Note 8 - Other Assets

Significant balances included in other assets at December 31, 2015 and 2014 are presented below.



(in thousands)	2015		2014
Cash surrender value of bank-owned life insurance	$	338,002	286,109
Accrued interest receivable	65,218		64,058
Accounts receivable	19,692		23,461
FHLB and FRB stock	68,288		78,065
Private equity investments	28,018		28,363
Prepaid expenses	33,348		33,198
Derivative asset positions	27,139		32,117
Other properties held for sale	10,671		12,227
Servicing asset	4,287		3,323
Miscellaneous other assets	55,982		54,963
Total other assets	$	650,645	615,884

Synovus’ investment in company-owned life insurance programs was approximately $338.0 million and $286.1 million at December 31, 2015 and December 31, 2014, respectively, which included approximately $31.8 million and $31.5 million of separate account life insurance policies covered by stable value agreements. At December 31, 2015, the fair value of the investments underlying the separate account policies was approximately $30.6 million, which was within the coverage provided by the stable value agreements.

Synovus held stock in the FHLB of Atlanta totaling $67.1 million at December 31, 2015 and $76.9 million at December 31, 2014. Synovus also held stock in the Federal Reserve Bank totaling $1.2 million at December 31, 2015 and December 31, 2014. The FHLB and Federal Reserve Bank stocks are recorded at amortized cost, which approximates fair value. In order to become a member of the Federal Reserve System, regulations require that Synovus hold a certain amount of Federal Reserve Bank capital stock. Additionally, investment in FHLB stock is required for membership in the FHLB system and in relation to the level of FHLB outstanding borrowings.