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Other Loans Held for Sale
6 Months Ended
Jun. 30, 2013
Loans Receivable Held-for-sale, Net [Abstract]  
Other Loans Held For Sale

Loans are transferred to other loans held for sale at fair value when Synovus makes the determination to sell specifically identified loans. The fair value of the loans is primarily determined by analyzing the underlying collateral of the loan and the anticipated market prices of similar assets less estimated costs to sell. At the time of transfer, if the fair value is less than the carrying amount, the difference is recorded as a charge-off against the ALL. Decreases in the fair value subsequent to the transfer, as well as gains/losses realized from sale of these loans, are recognized as (gains) losses on other loans held for sale, net as a component of non-interest expense on the consolidated statements of income.
During the six months ended June 30, 2013 and 2012, Synovus transferred loans with a carrying value immediately preceding the transfer totaling $112.2 million and $264.0 million, respectively, to other loans held for sale. Charge-offs recorded upon transfer of these loans to held for sale totaled $25.0 million and $74.9 million for the six months ended June 30, 2013 and 2012, respectively. These charge-offs which resulted in a new cost basis (fair value less costs to sell) of $87.2 million and $189.1 million for the loans transferred during the six months ended June 30, 2013 and 2012, respectively, were based on the estimated fair value, less estimated costs to sell, of the loans at the time of transfer.