Note 5 - Restructuring Charges

For the six and three months ended June 30, 2017 and 2016, total restructuring charges consist of the following components:



	Six Months Ended June 30,				Three Months Ended June 30,
(in thousands)	2017			2016	2017			2016
Severance charges	$	6,453		—	$	—		—
Lease termination charges	—			31	—			(13	)
Asset impairment charges	—			6,866	—			5,821
Loss (gain) on sale of assets held for sale, net	(4		)	13	(4		)	13
Other charges	75			71	17			20
Total restructuring charges, net	$	6,524		6,981	$	13		5,841

During the first quarter of 2017, Synovus recorded severance charges of $6.5 million including $6.2 million for termination benefits incurred in conjunction with a voluntary early retirement program offered during the first quarter of 2017. This program was part of Synovus' ongoing efficiency initiatives. The $6.2 million accrual was based on the benefits to be paid to employees who accepted the early retirement offer on or prior to the expiration of the program on March 30, 2017. For the three months ended June 30, 2016, Synovus recorded restructuring charges of $5.8 million with $4.8 million of those charges related to Synovus' corporate real estate optimization activities and $1.0 million associated with branch closures. Restructuring charges associated with branch closures during the first quarter of 2016 totaled $1.1 million.

The following tables present aggregate activity within the accrual for restructuring charges for the six and three months ended June 30, 2017 and 2016:



(in thousands)	Severance Charges			Lease Termination Charges		Total
Balance at December 31, 2016	$	81		3,968		4,049
Accruals for voluntary and involuntary termination benefits	6,453			—		6,453
Payments	(2,803		)	(438	)	(3,241	)
Balance at June 30, 2017	$	3,731		3,530		7,261

Balance at April 1, 2017	6,315			3,689		10,004
Payments	(2,584		)	(159	)	(2,743	)
Balance at June 30, 2017	$	3,731		3,530		7,261



(in thousands)	Severance Charges			Lease Termination Charges		Total
Balance at December 31, 2015	$	1,930		4,687		6,617
Accruals for lease terminations	—			31		31
Payments	(1,337		)	(343	)	(1,680	)
Balance at June 30, 2016	$	593		4,375		4,968

Balance at April 1, 2016	1,533			4,545		6,078
Accruals for lease terminations	—			(13	)	(13	)
Payments	(940		)	(157	)	(1,097	)
Balance at June 30, 2016	$	593		4,375		4,968

All other charges were paid in the quarters that they were incurred. No other restructuring charges resulted in payment accruals.