| Fair Value Accounting |
Note 6 - Fair Value Accounting See "Part II - Item 8. Financial Statements and Supplementary Data - Note 15 - Fair Value Accounting" to the consolidated financial statements of Synovus' 2017 Form 10-K for a description of the fair value hierarchy and valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present all financial instruments measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017. | | | | | | | | | | | | | | | | | | September 30, 2018 | (in thousands) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Total Assets and Liabilities at Fair Value | Assets | | | | | | | | Trading securities: | | | | | | | | U.S. Government agency securities | $ | — |
| | $ | 6,532 |
| | $ | — |
| | $ | 6,532 |
| Mortgage-backed securities issued by U.S. Government agencies | — |
| | 921 |
| | — |
| | 921 |
| Collateralized mortgage obligations issued by U.S. Government sponsored enterprises | — |
| | 183 |
| | — |
| | 183 |
| State and municipal securities | — |
| | 177 |
| | — |
| | 177 |
| Other investments | 998 |
| | 38 |
| | — |
| | 1,036 |
| Total trading securities | $ | 998 |
| | $ | 7,851 |
| | $ | — |
| | $ | 8,849 |
| Mortgage loans held for sale | — |
| | 37,276 |
| | — |
| | 37,276 |
| Investment securities available for sale: | | | | | | | | U.S. Treasury securities | $ | 120,639 |
| | $ | — |
| | $ | — |
| | $ | 120,639 |
| U.S. Government agency securities | — |
| | 37,864 |
| | — |
| | 37,864 |
| Mortgage-backed securities issued by U.S. Government agencies | — |
| | 100,883 |
| | — |
| | 100,883 |
| Mortgage-backed securities issued by U.S. Government sponsored enterprises | — |
| | 2,489,365 |
| | — |
| | 2,489,365 |
| Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | — |
| | 1,117,703 |
| | — |
| | 1,117,703 |
| Corporate debt and other debt securities | — |
| | 15,155 |
| | 1,965 |
| | 17,120 |
| Total investment securities available for sale | $ | 120,639 |
| | $ | 3,760,970 |
| | $ | 1,965 |
| | $ | 3,883,574 |
| Private equity investments | — |
| | — |
| | 13,112 |
| | 13,112 |
| Mutual funds | 3,118 |
| | — |
| | — |
| | 3,118 |
| Mutual funds held in rabbi trusts | 14,100 |
| | — |
| | — |
| | 14,100 |
| GGL/SBA loans servicing asset | — |
| | — |
| | 3,761 |
| | 3,761 |
| Derivative assets: | | | | | | | | Interest rate contracts | $ | — |
| | $ | 8,892 |
| | $ | — |
| | $ | 8,892 |
| Mortgage derivatives(1) | — |
| | 1,122 |
| | — |
| | 1,122 |
| Total derivative assets | $ | — |
| | $ | 10,014 |
| | $ | — |
| | $ | 10,014 |
| Liabilities | | | | | | | | Trading account liabilities | — |
| | 3,540 |
| | — |
| | 3,540 |
| Earnout liability(2) | — |
| | — |
| | 23,000 |
| | 23,000 |
| Derivative liabilities: | | | | | | | | Interest rate contracts | $ | — |
| | $ | 20,822 |
| | $ | — |
| | 20,822 |
| Visa derivative | — |
| | — |
| | 1,990 |
| | 1,990 |
| Total derivative liabilities | $ | — |
| | $ | 20,822 |
| | $ | 1,990 |
| | $ | 22,812 |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | December 31, 2017 | (in thousands) | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) | | Significant Other Observable Inputs (Level 2) | | Significant Unobservable Inputs (Level 3) | | Total Assets and Liabilities at Fair Value | Assets | | | | | | | | Trading securities: | | | | | | | | Mortgage-backed securities issued by U.S. Government agencies | $ | — |
| | $ | 3,002 |
| | $ | — |
| | $ | 3,002 |
| Collateralized mortgage obligations issued by U.S. Government sponsored enterprises | — |
| | 296 |
| | — |
| | 296 |
| Other investments | 522 |
| | — |
| | — |
| | 522 |
| Total trading securities | $ | 522 |
| | $ | 3,298 |
| | $ | — |
| | $ | 3,820 |
| Mortgage loans held for sale | — |
| | 48,024 |
| | — |
| | 48,024 |
| Investment securities available for sale: | | | | | | | | U.S. Treasury securities | $ | 82,674 |
| | $ | — |
| | $ | — |
| | $ | 82,674 |
| U.S. Government agency securities | — |
| | 10,862 |
| | — |
| | 10,862 |
| Mortgage-backed securities issued by U.S. Government agencies | — |
| | 120,440 |
| | — |
| | 120,440 |
| Mortgage-backed securities issued by U.S. Government sponsored enterprises | — |
| | 2,640,523 |
| | — |
| | 2,640,523 |
| Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises | — |
| | 1,111,999 |
| | — |
| | 1,111,999 |
| State and municipal securities | — |
| | 180 |
| | — |
| | 180 |
| Corporate debt and other securities | 3,162 |
| | 15,294 |
| | 1,935 |
| | 20,391 |
| Total investment securities available for sale | $ | 85,836 |
| | $ | 3,899,298 |
| | $ | 1,935 |
| | $ | 3,987,069 |
| Private equity investments | — |
| | — |
| | 15,771 |
| | 15,771 |
| Mutual funds held in rabbi trusts | 14,140 |
| | — |
| | — |
| | 14,140 |
| GGL/SBA loan servicing asset | — |
| | — |
| | 4,101 |
| | 4,101 |
| Derivative assets: | | | | | | | | Interest rate contracts | $ | — |
| | $ | 10,786 |
| | $ | — |
| | $ | 10,786 |
| Mortgage derivatives(1) | — |
| | 936 |
| | — |
| | 936 |
| Total derivative assets | $ | — |
| | $ | 11,722 |
| | $ | — |
| | $ | 11,722 |
| Liabilities | | | | | | | | Trading account liabilities | — |
| | 1,000 |
| | — |
| | 1,000 |
| Earnout liability(2) | — |
| | — |
| | 11,348 |
| | 11,348 |
| Derivative liabilities: | | | | | | | | Interest rate contracts | $ | — |
| | $ | 12,638 |
| | $ | — |
| | $ | 12,638 |
| Mortgage derivatives(1) | — |
| | 129 |
| | — |
| | 129 |
| Visa derivative | — |
| | — |
| | 4,330 |
| | 4,330 |
| Total derivative liabilities | $ | — |
| | $ | 12,767 |
| | $ | 4,330 |
| | $ | 17,097 |
| | | | | | | | |
(1) Mortgage derivatives consist of customer interest rate lock commitments that relate to the potential origination of mortgage loans, which would be classified as held for sale and forward loan sales commitments with third-party investors. (2) Earnout liability consists of contingent consideration obligation related to the Global One acquisition. Fair Value Option The following table summarizes the difference between the fair value and the unpaid principal balance of mortgage loans held for sale measured at fair value and the changes in fair value of these loans. Mortgage loans held for sale are initially measured at fair value with subsequent changes in fair value recognized in earnings. Changes in fair value are recorded as a component of mortgage banking income in the consolidated statements of income. An immaterial portion of these changes in fair value was attributable to changes in instrument-specific credit risk. | | | | | | | | | | | | | | | | | Changes in Fair Value Included in Net Income | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | (in thousands) | 2018 | | 2017 | | 2018 | | 2017 | Mortgage loans held for sale | $ | (569 | ) | | $ | (104 | ) | | $ | (414 | ) | | $ | 850 |
| | | | | | | | |
| | | | | | | | | Mortgage Loans Held for Sale | | (in thousands) | As of September 30, 2018 | | As of December 31, 2017 | Fair value | $ | 37,276 |
| | $ | 48,024 |
| Unpaid principal balance | 36,505 |
| | 46,839 |
| Fair value less aggregate unpaid principal balance | $ | 771 |
| | $ | 1,185 |
| | | | |
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) During the three and nine months ended September 30, 2018 and 2017, Synovus did not have any transfers in or out of Level 3 in the fair value hierarchy. For the three and nine months ended September 30, 2018, total net losses included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at September 30, 2018 was $11.8 million and $17.9 million, respectively. For the three and nine months ended September 30, 2017, total net losses included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at September 30, 2017 was $2.1 million and $7.7 million, respectively. | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2018 | (in thousands) | Investment Securities Available for Sale | | Private Equity Investments | | GGL / SBA Loans Servicing Asset | | Earnout
Liability | | Visa Derivative | Beginning balance, July 1, 2018 | $ | 1,857 |
| | $ | 12,678 |
| | $ | 4,186 |
| | $ | (11,348 | ) | | $ | (5,943 | ) | Total (losses) gains realized/unrealized: | | | | | | | | | | Included in earnings | — |
| | 434 |
| | (561 | ) | | (11,652 | ) | | — |
| Unrealized gains (losses) included in OCI | 108 |
| | — |
| | — |
| | — |
| | — |
| Additions | — |
| | — |
| | 136 |
| | — |
| | — |
| Settlements | — |
| | — |
| | — |
| | — |
| | 3,953 |
| Ending balance, September 30, 2018 | $ | 1,965 |
| | $ | 13,112 |
| | $ | 3,761 |
| | $ | (23,000 | ) | | $ | (1,990 | ) | Total net losses for the period included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at September 30, 2018 | $ | — |
| | $ | 434 |
| | $ | (561 | ) | | $ | (11,652 | ) | | $ | — |
| | | | Three Months Ended September 30, 2017 | (in thousands) | Investment Securities Available for Sale | | Private Equity Investments | | GGL / SBA
Loans Servicing Asset | | Earnout
Liability | | Visa Derivative | Beginning balance, July 1, 2017 | $ | 1,927 |
| | $ | 15,698 |
| | $ | 4,297 |
| | $ | (13,941 | ) | | $ | (5,053 | ) | Total (losses) gains realized/unrealized: | | | | | | | | | | Included in earnings | — |
| | (27 | ) | | (27 | ) | | (2,059 | ) | | — |
| Unrealized gains (losses) included in OCI | (9 | ) | | — |
| | — |
| | — |
| | — |
| Settlements | — |
| | — |
| | — |
| | — |
| | 360 |
| Ending balance, September 30, 2017 | $ | 1,918 |
| | $ | 15,671 |
| | $ | 4,270 |
| | $ | (16,000 | ) | | $ | (4,693 | ) | Total net losses for the period included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at September 30, 2017 | $ | — |
| | $ | (27 | ) | | $ | (27 | ) | | $ | (2,059 | ) | | $ | — |
| | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2018 | (in thousands) | Investment Securities Available for Sale | | Private Equity Investments | | GGL / SBA
Loans Servicing Asset | | Earnout
Liability | | Visa Derivative | Beginning balance, January 1, 2018 | $ | 1,935 |
| | $ | 15,771 |
| | $ | 4,101 |
| | $ | (11,348 | ) | | $ | (4,330 | ) | Total (losses) gains realized/unrealized: | | | | | | | | | | Included in earnings | — |
| | (2,659 | ) | | (1,295 | ) | | (11,652 | ) | | (2,328 | ) | Unrealized gains (losses) included in OCI | 30 |
| | — |
| | — |
| | — |
| | — |
| Additions | — |
| | — |
| | 955 |
| | — |
| | — |
| Settlements | — |
| | — |
| | — |
| | — |
| | 4,668 |
| Ending balance, September 30, 2018 | $ | 1,965 |
| | $ | 13,112 |
| | $ | 3,761 |
| | $ | (23,000 | ) | | $ | (1,990 | ) | Total net losses for the period included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at September 30, 2018 | $ | — |
| | $ | (2,659 | ) | | $ | (1,295 | ) | | $ | (11,652 | ) | | $ | (2,328 | ) | | | | | | | | | | | | Nine Months Ended September 30, 2017 | (in thousands) | Investment Securities Available for Sale | | Private Equity Investments | | GGL / SBA Loans Servicing Asset | | Earnout Liability | | Visa Derivative | Beginning balance, January 1, 2017 | $ | 1,796 |
| | $ | 25,493 |
| | $ | — |
| | $ | (14,000 | ) | | $ | (5,768 | ) | Total (losses) gains realized/unrealized: | | | | | | | | | | Included in earnings | — |
| | (3,193 | ) | | (721 | ) | | (3,766 | ) | | — |
| Unrealized gains (losses) included in OCI | 122 |
| | — |
| | — |
| | — |
| | — |
| Additions | — |
| | — |
| | 539 |
| | — |
| | — |
| Sales and settlements | — |
| | (6,629 | ) | | — |
| | — |
| | 1,075 |
| Transfer from amortization method to fair value | — |
| | — |
| | 4,452 |
| | — |
| | — |
| Measurement period adjustments related to Global One | — |
| | — |
| | — |
| | 1,766 |
| | — |
| Ending balance, September 30, 2017 | $ | 1,918 |
| | $ | 15,671 |
| | $ | 4,270 |
| | $ | (16,000 | ) | | $ | (4,693 | ) | Total net losses for the period included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at September 30, 2017 | $ | — |
| | $ | (3,193 | ) | | $ | (721 | ) | | $ | (3,766 | ) | | $ | — |
| | | | | | | | | | |
Quantitative Information about Level 3 Fair Value Measurements | | | | | | | | | | | |
| September 30, 2018 | | December 31, 2017 | Assets and liabilities measured at fair value on a recurring basis | | Valuation Technique | Significant Unobservable Input | Level 3 Fair Value | | Range or Weighted Average | | Level 3 Fair Value | | Range or Weighted Average | | | | | | | | | | | | Investment Securities Available for Sale - Other Investments: Trust preferred securities | | Discounted cash flow analysis | Credit spread embedded in discount rate | $1,965 | | 389 bps | | $1,935 | | 398 bps | | | | | | | | | | | | Private equity investments | | Individual analysis of each investee company | Multiple factors, including but not limited to, current operations, financial condition, cash flows, evaluation of business management and financial plans, and recently executed financing transactions related to the investee companies | 13,112 | | N/A | | 15,771 | | N/A | | | | | | | | | | | | GGL/SBA loans servicing asset | | Discounted cash flow analysis | Discount rate Prepayment speeds | 3,761 | | 13.40% 8.64% | | 4,101 | | 13.16% 7.50% | | | | | | | | | | | | Earnout liability | | Option pricing methods and Monte Carlo simulation | Earning projections of Global One | 23,000 | | N/A | | 11,348 | | N/A | | | | | | | | | | | | Visa derivative liability | | Discounted cash flow analysis | Estimated timing of resolution of covered litigation, future cumulative deposits to the litigation escrow for settlement of the covered litigation, and estimated future monthly fees payable to the derivative counterparty | 1,990 | | 1-2 years | | 4,330 | | 1-4 years | | | | | | | | | | | |
Assets Measured at Fair Value on a Non-recurring Basis Certain assets are recorded at fair value on a non-recurring basis. Non-recurring fair value adjustments typically are a result of the application of lower of cost or fair value accounting or a write-down occurring during the period. For example, if the fair value of an asset in these categories falls below its cost basis, it is considered to be at fair value at the end of the period of the adjustment. The following table presents assets measured at fair value on a non-recurring basis as of the dates indicated for which there was a fair value adjustment during the nine months ended September 30, 2018 and year ended December 31, 2017. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| September 30, 2018 | | December 31, 2017 | (in thousands) | Level 1 | | Level 2 | | Level 3 | | Total | | Level 1 | | Level 2 | | Level 3 | | Total | Impaired loans(1) | $ | — |
| | $ | — |
| | $ | 17,270 |
| | $ | 17,270 |
| | $ | — |
| | $ | — |
| | $ | 3,603 |
| | $ | 3,603 |
| Other loans held for sale | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 10,197 |
| | 10,197 |
| Other real estate | — |
| | — |
| | 507 |
| | 507 |
| | — |
| | — |
| | 3,363 |
| | 3,363 |
| Other assets held for sale | — |
| | — |
| | 302 |
| | 302 |
| | — |
| | — |
| | 5,334 |
| | 5,334 |
| | | | | | | | | | | | | | | | |
(1) Collateral-dependent impaired loans that were written down to fair value during the period. Other real estate (ORE) properties are included in other assets on the consolidated balance sheets. The carrying value of ORE at September 30, 2018 and December 31, 2017 was $8.5 million and $3.8 million, respectively. The following table presents fair value adjustments recognized in earnings for the three and nine months ended September 30, 2018 and 2017 for assets measured at fair value on a non-recurring basis still held at period-end. | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (in thousands) | 2018 | | 2017 | | 2018 | | 2017 | Impaired loans(1) | $ | 1,223 |
| | $ | 83 |
| | $ | 4,594 |
| | $ | 1,075 |
| Other loans held for sale | — |
| | 25,051 |
| | — |
| | 25,051 |
| Other real estate | 61 |
| | 5,165 |
| | 61 |
| | 5,165 |
| Other assets held for sale | — |
| | 1,683 |
| | 499 |
| | 1,683 |
| | | | | | | | |
(1) Collateral-dependent impaired loans that were written down to fair value during the period.
Quantitative Information about Level 3 Fair Value Measurements | | | | | | | | | September 30, 2018 | | December 31, 2017 | Assets measured at fair value on a non-recurring basis | | Valuation Technique | Significant Unobservable Input | Range (Weighted Average)(1) | | Range (Weighted Average)(1) | | | | | | | | Collateral dependent impaired loans | | Third-party appraised value of collateral less estimated selling costs | Discount to appraised value Estimated selling costs | 0% - 68% (25%) 0% - 10% (7%) | | 0%-50% (15%) 0%-10% (7%) | | | | | | | | Other loans held for sale | | Third-party appraised value of collateral less estimated selling costs | Discount to appraised value Estimated selling costs | N/A N/A | | 5% - 99% (54%) 0% - 10% (2%) | | | | | | | | Other real estate | | Third-party appraised value of real estate less estimated selling costs | Discount to appraised value Estimated selling costs | 0% - 7% (4%) 0% - 10% (7%) | | 0%-85% (35%) 0%-10% (7%) | | | | | | | | Other assets held for sale | | Third-party appraised value less estimated selling costs or BOV | Discount to appraised value Estimated selling costs | 0%-42% (42%) 0%-10% (7%) | | 21%-52% (25%) 0%-10% (7%) | | | | | | | |
(1) The range represents management's estimate of the high and low of the value that would be assigned to a particular input. For assets measured at fair value on a non-recurring basis, the weighted average is the measure of central tendencies; it is not the value that management is using for the asset or liability. Fair Value of Financial Instruments The following tables present the carrying and fair values of financial instruments, as well as the level within the fair value value hierarchy, at September 30, 2018 and December 31, 2017. The fair values represent management’s estimates based on various methodologies and assumptions. For financial instruments that are not recorded at fair value on the balance sheet, such as loans held for investment, interest-bearing deposits, and long-term debt, the fair value amounts should not be taken as an estimate of the amount that would be realized if all such financial instruments were to be settled immediately. | | | | | | | | | | | | | | | | | | | | | | September 30, 2018 | (in thousands) | Carrying Value | | Fair Value | | Level 1 | | Level 2 | | Level 3 | Financial assets | | | | | | | | | | Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $ | 1,011,933 |
| | $ | 1,011,933 |
| | $ | 1,011,933 |
| | $ | — |
| | $ | — |
| Trading account assets | 8,849 |
| | 8,849 |
| | 998 |
| | 7,851 |
| | — |
| Mortgage loans held for sale | 37,276 |
| | 37,276 |
| | — |
| | 37,276 |
| | — |
| Other loans held for sale | 12 |
| | 12 |
| | — |
| | — |
| | 12 |
| Investment securities available for sale | 3,883,574 |
| | 3,883,574 |
| | 120,639 |
| | 3,760,970 |
| | 1,965 |
| Private equity investments | 13,112 |
| | 13,112 |
| | — |
| | — |
| | 13,112 |
| Mutual funds | 3,118 |
| | 3,118 |
| | 3,118 |
| | — |
| | — |
| Mutual funds held in rabbi trusts | 14,100 |
| | 14,100 |
| | 14,100 |
| | — |
| | — |
| Loans, net | 25,325,666 |
| | 25,138,896 |
| | — |
| | — |
| | 25,138,896 |
| GGL/SBA loans servicing asset | 3,761 |
| | 3,761 |
| | — |
| | — |
| | 3,761 |
| Derivative assets | 10,014 |
| | 10,014 |
| | — |
| | 10,014 |
| | — |
| | | | | | | | | | | Financial liabilities |
| |
| |
| |
| | | Trading account liabilities | 3,540 |
| | 3,540 |
| | — |
| | 3,540 |
| | — |
| Non-interest bearing deposits | $ | 7,628,736 |
| | $ | 7,628,736 |
| | $ | — |
| | $ | 7,628,736 |
| | $ | — |
| Non-time interest-bearing deposits | 13,847,104 |
| | 13,847,104 |
| | — |
| | 13,847,104 |
| | — |
| Time deposits | 4,957,818 |
| | 4,937,216 |
| | — |
| | 4,937,216 |
| | — |
| Total deposits | $ | 26,433,658 |
| | $ | 26,413,056 |
| | $ | — |
| | $ | 26,413,056 |
| | $ | — |
| Federal funds purchased and securities sold under repurchase agreements | 191,145 |
| | 191,145 |
| | 191,145 |
| | — |
| | — |
| Other short-term borrowings | 475,000 |
| | 475,000 |
| | — |
| | 475,000 |
| | — |
| Long-term debt | 1,656,909 |
| | 1,654,002 |
| | — |
| | 1,654,002 |
| | — |
| Earnout liabilities | 23,000 |
| | 23,000 |
| | — |
| | — |
| | 23,000 |
| Derivative liabilities | $ | 22,812 |
| | $ | 22,812 |
| | $ | — |
| | $ | 20,822 |
| | $ | 1,990 |
| | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | (in thousands) | Carrying Value | | Fair Value | | Level 1 | | Level 2 | | Level 3 | Financial assets | | | | | | | | | | Total cash, cash equivalents, restricted cash, and restricted cash equivalents | $ | 932,933 |
| | $ | 932,933 |
| | $ | 932,933 |
| | $ | — |
| | $ | — |
| Trading account assets | 3,820 |
| | 3,820 |
| | 522 |
| | 3,298 |
| | — |
| Mortgage loans held for sale | 48,024 |
| | 48,024 |
| | — |
| | 48,024 |
| | — |
| Other loans for sale | 11,356 |
| | 11,356 |
| |
| |
| | 11,356 |
| Investment securities available for sale | 3,987,069 |
| | 3,987,069 |
| | 85,836 |
| | 3,899,298 |
| | 1,935 |
| Private equity investments | 15,771 |
| | 15,771 |
| | — |
| | — |
| | 15,771 |
| Mutual funds held in rabbi trusts | 14,140 |
| | 14,140 |
| | 14,140 |
| | — |
| | — |
| Loans, net | 24,538,196 |
| | 24,507,141 |
| | — |
| | — |
| | 24,507,141 |
| GGL/SBA loans servicing asset | 4,101 |
| | 4,101 |
| | — |
| | — |
| | 4,101 |
| Derivative assets | 11,722 |
| | 11,722 |
| | — |
| | 11,722 |
| | — |
| | | | | | | | | | | Financial liabilities | | | | | | | | | | Trading account liabilities | 1,000 |
| | 1,000 |
| | — |
| | 1,000 |
| | — |
| Non-interest-bearing deposits | $ | 7,686,339 |
| | $ | 7,686,339 |
| | $ | — |
| | $ | 7,686,339 |
| | $ | — |
| Non-time interest-bearing deposits | 13,941,814 |
| | 13,941,814 |
| | — |
| | 13,941,814 |
| | — |
| Time deposits | 4,519,747 |
| | 4,523,661 |
| | — |
| | 4,523,661 |
| | — |
| Total deposits | $ | 26,147,900 |
| | $ | 26,151,814 |
| | $ | — |
| | $ | 26,151,814 |
| | $ | — |
| Federal funds purchased and securities sold under repurchase agreements | 161,190 |
| | 161,190 |
| | 161,190 |
| | — |
| | — |
| Other short-term borrowings | 100,000 |
| | 100,000 |
| | — |
| | 100,000 |
| | — |
| Long-term debt | 1,606,138 |
| | 1,621,814 |
| | — |
| | 1,621,814 |
| | — |
| Earnout liabilities | 11,348 |
| | 11,348 |
| | — |
| | — |
| | 11,348 |
| Derivative liabilities | $ | 17,097 |
| | $ | 17,097 |
| | $ | — |
| | $ | 12,767 |
| | $ | 4,330 |
| | | | | | | | | | |
|