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Restructuring Charges
 9 Months Ended
Sep. 30, 2015
Restructuring Charges [Abstract]  
Restructuring Charges
Note 5 - Restructuring Charges
For the nine and three months ended September 30, 2015 and 2014, total restructuring charges consist of the following components:
 
Nine Months Ended September 30,
 
Three Months Ended September 30,
(in thousands)
2015
 
2014
 
2015
 
2014
Severance charges
$
—

 
8,046

 
$
—

 
—

Lease termination charges
(4
)
 
—

 
—

 
—

Asset impairment charges
229

 
7,374

 
229

 
36

Gain on sale of assets held for sale, net
(374
)
 
—

 
(217
)
 
—

Professional fees and other charges
116

 
1,681

 
57

 
773

Total restructuring charges, net
$
(33
)
 
17,101

 
$
69

 
809

 
 
 
 
 
 
 
 

For the nine months ended September 30, 2015, Synovus recorded net gains of $374 thousand on the sale of certain branch locations and recorded additional expense, net of $341 thousand associated primarily with the 2014 branch closings. Restructuring charges for the nine and three months ended September 30, 2014 related primarily to expense savings initiatives that were approved during 2014. The initiatives included the consolidation or closing of certain branch locations as well as workforce reductions. Severance charges for the nine months ended September 30, 2014 consisted of estimated involuntary termination benefits for targeted staff reductions identified during 2014. These termination benefits were provided under an ongoing benefit arrangement as defined in ASC 712, Compensation-Nonretirement Postemployment Benefits; accordingly, the charges were recorded pursuant to the liability recognition criteria of ASC 712.   Asset impairment charges for the nine and three months ended September 30, 2014 were recorded following the decision to close 13 branches during 2014. Additionally, substantially all of the professional fees and other charges for the nine and three months ended September 30, 2014 consisted of professional fees incurred in connection with an organizational restructuring implemented during 2014.
The following table presents aggregate activity associated with accruals that resulted from restructuring charges during the nine and three months ended September 30, 2015 and 2014:
 
Severance Charges
 
Lease Termination Charges
 
Total
(in thousands)
 
 
 
 
 
Balance at December 31, 2014
$
3,291

 
5,539

 
8,830

Accruals for efficiency initiatives
—

 
(4
)
 
(4
)
Payments
(1,259
)
 
(608
)
 
(1,867
)
Balance at September 30, 2015
2,032

 
4,927

 
6,959

 
 
 
 
 
 
Balance at July 1, 2015
2,253

 
5,124

 
7,377

Accruals for efficiency initiatives
—

 
—

 
—

Payments
(221
)
 
(197
)
 
(418
)
Balance at September 30, 2015
$
2,032

 
4,927

 
6,959

 
 
 
 
 
 

 
Severance Charges
 
Lease Termination Charges
 
Total
(in thousands)
 
 
 
 
 
Balance at December 31, 2013
$
1,572

 
1,383

 
2,955

Accruals for efficiency initiatives
8,046

 
—

 
8,046

Payments
(4,965
)
 
(1,312
)
 
(6,277
)
Balance at September 30, 2014
4,653

 
71

 
4,724

 
 
 
 
 
 
Balance at July 1, 2014
6,224

 
78

 
6,302

Accruals for efficiency initiatives
—

 
—

 
—

Payments
(1,571
)
 
(7
)
 
(1,578
)
Balance at September 30, 2014
$
4,653

 
71

 
4,724

 
 
 
 
 
 

All professional fees and other charges were paid in the years that they were incurred. No other restructuring charges resulted in payment accruals.