Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill allocated to each reporting unit at March 31, 2022 and December 31, 2021 is presented as follows:


(in thousands)	Wholesale Banking Reporting Unit		Community Banking Reporting Unit		Consumer Banking Reporting Unit		Mortgage Reporting Unit		Wealth Management Reporting Unit		Total Goodwill
Balance at December 31, 2021	$	171,636	$	256,323	$	—	$	—	$	24,431	$	452,390
Changes during the period from:
Reallocation	—		(114,701)		114,701		—		—		—
Balance at March 31, 2022	$	171,636	$	141,622	$	114,701	$	—	$	24,431	$	452,390

Goodwill is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). Synovus performs its annual evaluation of goodwill impairment during the fourth quarter of each year. Due to the Company’s reorganization of its reporting structure during the first quarter of 2022, as described above, the Company performed a qualitative impairment assessment of the impacted reporting units and determined that performing a quantitative impairment test was not necessary.

Schedule of Other Intangible Assets

The following table shows the gross carrying amount and accumulated amortization of other intangible assets as of March 31, 2022 and December 31, 2021, which primarily consist of core deposit intangible assets. The CDI is being amortized over its estimated useful life of approximately ten years utilizing an accelerated method. Aggregate other intangible assets amortization expense for the three months ended March 31, 2022 and 2021, was $2.1 million and $2.4 million, respectively.


(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
March 31, 2022
CDI	$	57,400	$	(30,005)	$	27,395
Other	12,500		(6,417)		6,083
Total other intangible assets	$	69,900	$	(36,422)	$	33,478

December 31, 2021
CDI	$	57,400	$	(28,178)	$	29,222
Other	12,500		(6,126)		6,374
Total other intangible assets	$	69,900	$	(34,304)	$	35,596