Employment Expenses and Benefit Plans

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Employment Expenses and Benefit Plans

Note 22 - Employment Expenses and Benefit Plans

For the years ended December 31, 2016, 2015, and 2014, Synovus provided a 100% matching contribution on the first 4% of eligible employee 401(k) contributions for a total annual contribution of $10.8 million, $9.9 million, and $9.4 million, respectively.

For the years ended December 31, 2016, 2015, and 2014, Synovus sponsored a stock purchase plan for directors and employees whereby Synovus made contributions equal to 15% of employee and director voluntary contributions, subject to certain maximum contribution limitations. The funds are used to purchase outstanding shares of Synovus common stock. Synovus recorded as expense $826 thousand, $835 thousand, and $880 thousand for contributions to these plans in 2016, 2015, and 2014, respectively.

Synovus also has a non-contributory profit sharing plan that covers all eligible employees. The company may contribute a discretionary contribution to this plan on an annual basis. For the years ended December 31, 2016, 2015, and 2014, Synovus did not make contributions to the profit sharing plan.