Restructuring Charges

6 Months Ended

Jun. 30, 2018

Note 5 - Restructuring Charges

For the six and three months ended June 30, 2018 and 2017, total restructuring charges consist of the following components:



	Six Months Ended June 30,					Three Months Ended June 30,
(in thousands)	2018			2017		2018		2017
Severance charges	$	—		$	6,453	$	—	$	—
Other charges, net	(212		)	71		103		13
Total restructuring charges, net	$	(212	)	$	6,524	$	103	$	13

For the six months ended June 30, 2018, Synovus recorded net lease termination accrual reversals of $377 thousand related to branches closed in prior years offset somewhat by other property related charges of $165 thousand. During the six months ended June 30, 2017, Synovus recorded severance charges of $6.5 million including $6.2 million for termination benefits incurred in conjunction with a voluntary early retirement program offered to Synovus employees during the first quarter of 2017.

The following tables present aggregate activity within the accrual for restructuring charges for the six and three months ended June 30, 2018 and 2017:



(in thousands)	Severance Charges			Lease Termination Charges			Total
Balance at December 31, 2017	$	336		$	3,276		$	3,612
Accruals for lease terminations	—			(377		)	(377		)
Payments	(336		)	(1,031		)	(1,367		)
Balance at June 30, 2018	$	—		$	1,868		$	1,868

Balance at April 1, 2018	—			2,506			2,506
Payments	—			(638		)	(638		)
Balance at June 30, 2018	$	—		$	1,868		$	1,868



(in thousands)	Severance Charges			Lease Termination Charges			Total
Balance at December 31, 2016	$	81		$	3,968		$	4,049
Accrual for voluntary and involuntary termination benefits	6,453			—			6,453
Payments	(2,803		)	(438		)	(3,241		)
Balance at June 30, 2017	$	3,731		$	3,530		$	7,261

Balance at April 1, 2017	6,315			3,689			10,004
Payments	(2,584		)	(159		)	(2,743		)
Balance at June 30, 2017	$	3,731		$	3,530		$	7,261

All other charges were paid in the quarters in which they were incurred. No other restructuring charges resulted in payment accruals.