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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 214,348 $ 147,861
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 24,566 18,934
Depreciation, amortization, and accretion, net 28,661 29,334
Deferred income tax expense 5,222 70,484
Originations of mortgage loans held for sale (286,070) (325,094)
Proceeds from sales of mortgage loans held for sale 287,175 323,861
Gain on sales of mortgage loans held for sale, net (6,198) (7,049)
Increase in other assets (52,294) (4,124)
Increase (decrease) in other liabilities 8,292 (9,667)
Investment securities losses (gains), net 1,296 (7,667)
Share-based compensation expense 8,320 6,838
Net cash provided by operating activities 233,318 243,711
Investing Activities    
Proceeds from maturities and principal collections of investment securities available for sale 294,152 313,902
Proceeds from sales of investment securities available for sale 35,066 338,381
Purchases of investment securities available for sale 367,458 748,754
Proceeds from sales of loans 13,954 10,747
Proceeds from sales of other real estate 4,631 5,492
Net increase in loans (382,086) (612,309)
Purchases of bank-owned life insurance policies, net of settlements 1,783 (73,110)
Net increase in premises and equipment (26,780) (15,386)
Proceeds from sales of other assets held for sale 2,106 3,158
Net cash used in investing activities (424,632) (777,879)
Financing Activities    
Net (decrease) increase in demand and savings deposits (39,614) 367,450
Net increase in certificates of deposit 334,130 202,927
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements 46,390 (9,320)
Repayments and redemption of long-term debt (2,330,052) (1,128,591)
Proceeds from issuance of long-term debt 2,280,000 1,075,000
Dividends paid to common shareholders (47,510) (18,349)
Dividends paid to preferred shareholders (5,119) (5,119)
Proceeds from issuance of Series D Preferred Stock 195,138 0
Stock options exercised 1,896 2,504
Repurchase of common stock (76,810) (45,349)
Taxes paid related to net share settlement of equity awards (8,280) (7,810)
Net cash provided by financing activities 350,169 433,343
Increase/(decrease) in cash and cash equivalents including restricted cash 158,855 (100,825)
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] 1,091,788 [1] 898,220
Supplemental Cash Flow Information    
Income tax payments, net 38,619 8,768
Interest paid 80,884 67,007
Non-cash Activities    
Premises and equipment transferred to other assets held for sale 785 0
Other assets held for sale transferred to premises and equipment 0 4,450
Loans foreclosed and transferred to other real estate 7,561 5,516
Loans transferred to other loans held for sale at fair value 5,233 10,584
Equity investment securities available for sale transferred to other assets at fair value 3,162 0
Dividends declared on common stock during the period but paid after period-end $ 29,510 $ 18,349
[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.