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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Operating Activities      
Net income $ 428,476 $ 275,474 $ 246,784
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 51,697 67,185 28,000
Depreciation, amortization, and accretion, net 55,172 59,121 58,228
Deferred income tax expense 36,215 231,056 128,837
Originations of mortgage loans held for sale (543,073) (622,564) (705,394)
Proceeds from sales of mortgage loans held for sale 565,672 642,193 724,712
Gain on sales of mortgage loans held for sale, net (12,291) (13,450) (13,780)
Increase in other assets (83,957) (74,090) (9,600)
Increase (decrease) in other liabilities 22,202 28,651 (4,239)
Investment securities losses (gains), net 1,296 289 (6,011)
Loss on early extinguishment of debt, net 0 23,160 4,735
Share-based compensation expense 16,643 14,179 13,615
Net cash provided by operating activities 538,052 631,204 465,887
Investing Activities      
Net cash received in acquisition 0 0 6,146
Proceeds from maturities and principal collections of investment securities available for sale 603,099 632,875 894,123
Proceeds from sales of investment securities available for sale 35,066 812,293 968,606
Purchases of investment securities available for sale (700,194) (1,729,902) (2,051,283)
Proceeds from sales of loans 22,915 42,726 15,046
Proceeds from sales of other real estate and other assets 12,854 17,480 43,834
Net increase in loans including purchases of loans (1,235,260) (1,060,582) (1,129,422)
Net (purchases) redemptions of Federal Home Loan Bank stock (25,500) 7,438 (4,250)
Net (purchases) redemptions of Federal Reserve Bank stock (282) 2,984 (97,293)
Purchases of bank-owned life insurance policies, net of settlements 2,412 (148,110) (28,126)
Net increase in premises and equipment (53,159) (51,106) (34,317)
Net cash used in investing activities (1,338,049) (1,473,904) (1,416,936)
Financing Activities      
Net increase in deposits 571,897 1,499,085 1,404,558
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements 76,502 1,491 (17,326)
Net increase (decrease) in other short-term borrowings 550,000 100,000 (50,000)
Repayments and redemption of long-term debt (2,230,052) (2,350,422) (2,213,688)
Proceeds from issuance of long-term debt 2,280,000 1,771,866 1,875,000
Dividends paid to common shareholders (106,224) (54,670) (59,425)
Dividends paid to preferred shareholders (13,978) (10,238) (10,238)
Net proceeds from issuance of Series D Preferred Stock 195,140 0 0
Redemption of Series C Preferred Stock (130,000) 0 0
Stock options exercised 2,139 3,440 5,155
Earnout payment (1,220) (892) 0
Repurchase of common stock (175,072) (175,079) (263,084)
Taxes paid related to net share settlement of equity awards (8,504) (7,993) (5,041)
Net cash provided by financing activities 1,010,628 776,588 665,911
Increase (decrease) in cash and cash equivalents including restricted cash 210,631 (66,112) (285,138)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of year 932,933 [1],[2] 999,045 [2] 1,284,183 [2]
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of year 1,143,564 [1],[2] 932,933 [1],[2] 999,045 [2]
Supplemental Cash Flow Information      
Income taxes, net 41,008 18,040 9,340
Interest 180,241 143,237 123,560
Non-cash Activities:      
Loans foreclosed and transferred to other real estate 13,168 7,154 16,214
Premises and equipment transferred to/(from) other assets, net 896 7,733 25,231
Topic 606 cumulative-effect adjustment to opening balance of retained earnings (685) 0 0
Subtopic 825-10 equity investment securities available for sale transferred to other assets at fair value 3,162 0 0
Loans transferred to (from) other loans held for sale at fair value, net 12,568 52,829 14,621
Dividends declared on common stock during the year but paid after year-end 28,966 17,835 0
Settlement of earnout payment with shares of common stock 7,427 5,460 0
Acquisition:      
Fair value of non-cash assets acquired 0 0 408,054
Fair value of liabilities assumed 0 0 387,608
Fair value of common stock issued $ 0 $ 0 $ 26,592
[1] See "Note 1 - Summary of Significant Accounting Policies" of this Report for information on Synovus' change in presentation of cash and cash equivalents.
[2] See "Note 1 - Summary of Significant Accounting Policies" of this Report for information on Synovus' change in presentation of cash and cash equivalents.See accompanying notes to the audited consolidated financial statements.