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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans, including fees $ 657,811 $ 701,570 $ 1,306,063 $ 1,393,285
Investment securities 93,720 78,891 187,072 150,797
Loans held for sale 1,098 1,132 1,855 1,710
Federal Reserve Bank balances 15,911 15,630 37,177 30,661
Other earning assets 3,102 4,019 6,240 7,499
Total interest income 771,642 801,242 1,538,407 1,583,952
Interest expense:        
Deposits 278,309 335,754 560,634 668,420
Long-term debt 33,586 28,390 63,434 57,985
Federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings 186 2,100 394 3,703
Total interest expense 312,081 366,244 624,462 730,108
Net interest income 459,561 434,998 913,945 853,844
Provision for (reversal of) credit losses 3,245 26,404 14,166 80,384
Net interest income after provision for (reversal of) credit losses 456,316 408,594 899,779 773,460
Non-interest revenue:        
Service charges on deposit accounts 25,258 22,907 48,372 44,720
Fiduciary and asset management fees 20,332 19,728 40,249 38,741
Card fees 20,132 19,418 41,359 38,904
Brokerage revenue 20,748 20,457 41,107 43,164
Mortgage banking income 4,435 3,944 7,773 7,362
Capital markets income 12,960 15,077 19,901 21,704
Income from bank-owned life insurance 10,279 8,097 18,363 15,444
Investment securities gains (losses), net 0 (256,660) 0 (256,660)
Other non-interest revenue 19,991 18,181 33,477 36,658
Total non-interest revenue 134,135 (128,851) 250,601 (9,963)
Non-interest expense:        
Salaries and other personnel expense 192,182 179,407 377,692 367,928
Net occupancy, equipment, and software expense 48,589 46,415 97,241 93,223
Third-party processing and other services 23,535 21,783 45,409 42,041
Professional fees 10,197 15,655 19,976 23,286
FDIC insurance and other regulatory fees 7,534 6,493 16,078 30,312
Restructuring charges (reversals) 72 (658) (1,220) 866
Other operating expense 33,592 32,706 68,559 66,886
Total non-interest expense 315,701 301,801 623,735 624,542
Income (loss) before income taxes 274,750 (22,058) 526,645 138,955
Income tax expense (benefit) 57,631 (7,378) 114,654 29,565
Net income (loss) 217,119 (14,680) 411,991 109,390
Less: Net income (loss) attributable to noncontrolling interest (596) (652) (738) (1,089)
Net income (loss) attributable to Synovus Financial Corp. 217,715 (14,028) 412,729 110,479
Less: Preferred stock dividends 11,395 9,713 22,718 19,398
Net income (loss) available to common shareholders $ 206,320 $ (23,741) $ 390,011 $ 91,081
Net income (loss) per common share, basic (in dollars per share) $ 1.49 $ (0.16) $ 2.79 $ 0.62
Net income (loss) per common share, diluted (in dollars per share) $ 1.48 $ (0.16) $ 2.77 $ 0.62
Weighted average common shares outstanding, basic (in shares) 138,891 145,565 139,783 145,998
Weighted average common shares outstanding, diluted (in shares) 139,502 145,565 140,770 146,568