Condensed Financial Information Of Synovus Financial Corp. (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Balance Sheets

Condensed Balance Sheets
	December 31,
(in thousands)	2016			2015
Assets
Cash due from bank subsidiary	$	234,339		369,564
Funds due from other depository institutions(1)	19,911			19,911
Investment in consolidated bank subsidiary, at equity	3,319,980			3,339,233
Investment in consolidated nonbank subsidiaries, at equity	71,335			71,350
Notes receivable from nonbank subsidiaries	35,200			67,000
Other assets	101,346			105,513
Total assets	$	3,782,111		3,972,571
Liabilities and Shareholders' Equity
Liabilities:
Long-term debt	$	834,252		960,185
Other liabilities	19,935			12,190
Total liabilities	854,187			972,375
Shareholders’ equity:
Series C Preferred Stock	125,980			125,980
Common stock	142,026			140,592
Additional paid-in capital	3,028,405			2,989,981
Treasury stock	(664,595		)	(401,511	)
Accumulated other comprehensive loss, net	(55,659		)	(29,819	)
Retained earnings	351,767			174,973
Total shareholders’ equity	2,927,924			3,000,196
Total liabilities and shareholders’ equity	$	3,782,111		3,972,571

⁽¹⁾ Restricted as to withdrawal.

Condensed Statements of Income
	Years Ended December 31,
(in thousands)	2016			2015		2014
Income
Cash dividends received from Synovus Bank	$	325,000		199,904		90,626
Cash distributions received from Synovus Bank	—			25,096		91,374
Interest income	2,565			8,865		14,262
Other income	4,595			(337	)	(932	)
Total income	332,160			233,528		195,330
Expenses
Interest expense	52,831			46,585		45,726
Other expenses	20,652			10,516		10,337
Total expenses	73,483			57,101		56,063
Income before income taxes and equity in undistributed income (loss) of subsidiaries	258,677			176,427		139,267
Allocated income tax benefit	(25,628		)	(18,808	)	(16,491	)
Income before equity in undistributed income (loss) of subsidiaries	284,305			195,235		155,758
Equity in undistributed income (loss) of subsidiaries	(37,521		)	30,847		39,491
Net income	246,784			226,082		195,249
Dividends on preferred stock	10,238			10,238		10,238
Net income available to common shareholders	$	236,546		215,844		185,011

Schedule of Condensed Statements of Operations

Condensed Statements of Income
	Years Ended December 31,
(in thousands)	2016			2015		2014
Income
Cash dividends received from Synovus Bank	$	325,000		199,904		90,626
Cash distributions received from Synovus Bank	—			25,096		91,374
Interest income	2,565			8,865		14,262
Other income	4,595			(337	)	(932	)
Total income	332,160			233,528		195,330
Expenses
Interest expense	52,831			46,585		45,726
Other expenses	20,652			10,516		10,337
Total expenses	73,483			57,101		56,063
Income before income taxes and equity in undistributed income (loss) of subsidiaries	258,677			176,427		139,267
Allocated income tax benefit	(25,628		)	(18,808	)	(16,491	)
Income before equity in undistributed income (loss) of subsidiaries	284,305			195,235		155,758
Equity in undistributed income (loss) of subsidiaries	(37,521		)	30,847		39,491
Net income	246,784			226,082		195,249
Dividends on preferred stock	10,238			10,238		10,238
Net income available to common shareholders	$	236,546		215,844		185,011

Schedule of Condensed Statements of Comprehensive Income (Loss)

Condensed Statements of Comprehensive Income
	December 31, 2016								December 31, 2015						December 31, 2014
(in thousands)	Before-tax Amount			Tax (Expense) Benefit		Net of Tax Amount			Before-tax Amount		Tax (Expense) Benefit		Net of Tax Amount		Before-tax Amount	Tax (Expense) Benefit		Net of Tax Amount
Net income	$	388,451		(141,667	)	246,784			358,573		(132,491	)	226,082		302,559	(107,310	)	195,249
Reclassification adjustment for losses realized in net income on cash flow hedges	467			(180	)	287			521		(201	)	320		448	(173	)	275
Reclassification adjustment for net gains realized in net income on investment securities available for sale	(5,763		)	2,219		(3,544		)	—		—		—		—	—		—
Net unrealized gains on investment securities available for sale	2,358			(908	)	1,450			2,908		(1,120	)	1,788		21	(8	)	13
Other comprehensive (loss) gain of bank subsidiary	(39,080		)	15,047		(24,033		)	(31,420	)	12,098		(19,322	)	46,122	(17,757	)	28,365
Other comprehensive (loss) income	$	(42,018	)	16,178		(25,840		)	(27,991	)	10,777		(17,214	)	46,591	(17,938	)	28,653
Comprehensive income						$	220,944						208,868					223,902

Condensed Statements of Cash Flows
	Years Ended December 31,
(in thousands)	2016			2015		2014
Operating Activities
Net income	$	246,784		226,082		195,249
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed loss (income) of subsidiaries	37,521			(30,847	)	(39,491	)
Deferred income tax expense (benefit)	17,989			(2,506	)	(5,041	)
Net increase (decrease) in other liabilities	7,746			(1,709	)	(22,323	)
Net (increase) decrease in other assets	(9,214		)	1,045		14,226
Other, net	(1,648		)	(178	)	(2,041	)
Net cash provided by operating activities	299,178			191,887		140,579
Investing Activities
Outlays for business combinations	(3,408		)	—		—
Net decrease in short-term notes receivable from non-bank subsidiaries	31,800			10,000		39,000
Net cash provided by investing activities	28,392			10,000		39,000
Financing Activities
Dividends paid to common and preferred shareholders	(69,663		)	(65,592	)	(53,043	)
Repurchases and agreements to repurchase shares of common stock	(263,084		)	(199,221	)	(88,113	)
Repayments on long-term debt	(130,048		)	(48,553	)	—
Proceeds from issuance of long-term debt	—			246,644		—
Net cash used in financing activities	(462,795		)	(66,722	)	(141,156	)
(Decrease) increase in cash and funds due from banks	(135,225		)	135,165		38,423
Cash and funds due from banks at beginning of year	389,475			254,310		215,887
Cash and funds due from banks at end of year	$	254,250		389,475		254,310

Schedule of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows
	Years Ended December 31,
(in thousands)	2016			2015		2014
Operating Activities
Net income	$	246,784		226,082		195,249
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed loss (income) of subsidiaries	37,521			(30,847	)	(39,491	)
Deferred income tax expense (benefit)	17,989			(2,506	)	(5,041	)
Net increase (decrease) in other liabilities	7,746			(1,709	)	(22,323	)
Net (increase) decrease in other assets	(9,214		)	1,045		14,226
Other, net	(1,648		)	(178	)	(2,041	)
Net cash provided by operating activities	299,178			191,887		140,579
Investing Activities
Outlays for business combinations	(3,408		)	—		—
Net decrease in short-term notes receivable from non-bank subsidiaries	31,800			10,000		39,000
Net cash provided by investing activities	28,392			10,000		39,000
Financing Activities
Dividends paid to common and preferred shareholders	(69,663		)	(65,592	)	(53,043	)
Repurchases and agreements to repurchase shares of common stock	(263,084		)	(199,221	)	(88,113	)
Repayments on long-term debt	(130,048		)	(48,553	)	—
Proceeds from issuance of long-term debt	—			246,644		—
Net cash used in financing activities	(462,795		)	(66,722	)	(141,156	)
(Decrease) increase in cash and funds due from banks	(135,225		)	135,165		38,423
Cash and funds due from banks at beginning of year	389,475			254,310		215,887
Cash and funds due from banks at end of year	$	254,250		389,475		254,310