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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net income $ 103,166 $ 71,857
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 12,776 8,674
Depreciation, amortization, and accretion, net 14,823 14,479
Deferred income tax expense 2,599 36,014
Originations of mortgage loans held for sale (128,618) (156,043)
Proceeds from sales of mortgage loans held for sale 130,805 155,245
Gain on sales of mortgage loans held for sale, net (3,445) (3,560)
(Increase) decrease in other assets (52,159) 7,375
(Decrease) increase in other liabilities (8,466) 4,963
Investment securities gains, net 0 (7,668)
Share-based compensation expense 3,955 3,360
Net cash provided by operating activities 75,436 134,696
Investing Activities    
Proceeds from maturities and principal collections of investment securities available for sale 139,929 163,386
Proceeds from sales of investment securities available for sale 0 282,629
Purchases of investment securities available for sale (211,085) (410,814)
Proceeds from sales of loans 10,885 0
Proceeds from sales of other real estate 2,090 2,773
Net increase in loans (109,180) (419,552)
Purchases of bank-owned life insurance policies, net of settlements 1,523 (73,110)
Net increase in premises and equipment (9,212) (5,497)
Proceeds from sales of other assets held for sale 0 1,328
Net cash used in investing activities (175,050) (458,857)
Financing Activities    
Net (decrease) increase in demand and savings deposits (216,836) 364,517
Net increase in certificates of deposit 322,338 92,955
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements 24,341 (13,219)
Repayments and redemption of long-term debt (2,130,030) (275,000)
Proceeds from issuance of long-term debt 2,280,000 275,000
Dividends paid to common shareholders (17,835) (18,347)
Dividends paid to preferred shareholders (2,559) (2,559)
Stock options exercised 1,240 1,919
Repurchase of common stock (26,733) (15,151)
Taxes paid related to net share settlement of equity awards 8,228 7,784
Net cash provided by financing activities 225,698 402,331
Increase in cash and cash equivalents including restricted cash 126,084 78,170
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period [2] 932,933 [1] 999,045
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period [2] 1,059,017 [1] 1,077,215
Supplemental Cash Flow Information    
Income tax payments, net 183 210
Interest paid 33,431 31,714
Non-cash Activities    
Loans foreclosed and transferred to other real estate 3,407 2,679
Loans transferred to other loans held for sale at fair value 5,233 8,442
Equity investment securities available for sale transferred to other assets at fair value 3,162 0
Securities purchased during the period but settled after period-end 0 94,560
Dividends declared on common stock during the period but paid after period-end $ 29,675 $ 0
[1] See "Note 1 - Significant Accounting Policies" of this Report for information on Synovus' change in presentation of cash and cash equivalents.
[2] See "Note 1 - Significant Accounting Policies" of this Report for information on Synovus' change in presentation of cash and cash equivalents.