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Shareholders' Equity and Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Shareholders' Equity and Other Comprehensive Income (Loss)
Note 6 - Shareholders' Equity and Other Comprehensive Income (Loss)
Repurchases of Common Stock
During the three months ended March 31, 2020, Synovus repurchased $16.2 million, or 450 thousand shares of its common stock, at an average price of $36.08 per share, under the share repurchase program announced on January 24, 2020.
Dividends
The following table presents dividends declared related to common stock. For information related to preferred stock dividends, see "Part II - Item 8. Financial Statements and Supplementary Data - Note 10 - Shareholders' Equity and Other Comprehensive Income" to the consolidated financial statements of Synovus' 2019 Form 10-K.
Three Months Ended March 31,
20202019
Cash dividends declared per share$0.33  $0.30  
Equity-Based Compensation Plans
The following tables summarize the status of Synovus' stock options, restricted share units, market restricted share units, and performance share units as of March 31, 2020 and activity for the three months ended March 31, 2020.
Stock Options
(in thousands, except per share amounts)QuantityWeighted-Average Exercise Price Per Share
Outstanding at January 1, 20203,037  $22.74  
Exercised(220) 29.05  
Expired/canceled(6) 20.99  
Outstanding at March 31, 20202,811  $22.25  

RSUs, MRSUs, and PSUs
(in thousands, except per share amounts)QuantityWeighted-Average Grant Date Fair Value Per Share
Non-vested at January 1, 20201,312  $39.28  
Granted689  36.63  
Quantity change based on TSR and performance factors23  36.63  
Dividend equivalents granted12  36.63  
Vested(556) 39.25  
Forfeited(5) 36.63  
Non-vested at March 31, 20201,475  $38.01  
Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
The following tables illustrate activity within the balances in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2020 and 2019.
Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
(in thousands)
Net unrealized gains (losses) on investment securities available for sale(1)
Net unrealized gains (losses) on cash flow hedges(1)
Post-retirement unfunded health benefit
Total
Balance, December 31, 2019$83,666  $(18,487) $462  $65,641  
Other comprehensive income (loss) before reclassifications117,330  80,501  —  197,831  
Amounts reclassified from AOCI(6,472) (89) —  (6,561) 
Net current period other comprehensive income (loss)110,858  80,412  —  191,270  
Balance at March 31, 2020$194,524  $61,925  $462  $256,911  
Balance, December 31, 2018$(83,179) $(12,137) $896  $(94,420) 
Other comprehensive income (loss) before reclassifications76,164  —  —  76,164  
Amounts reclassified from AOCI(56) —  (30) (86) 
Net current period other comprehensive income (loss)76,108  —  (30) 76,078  
Balance at March 31, 2019$(7,071) $(12,137) $866  $(18,342) 
(1) For all periods presented, the ending balance in net unrealized gains (losses) on cash flow hedges and investment securities available for sale includes unrealized losses of $12.1 million and $13.3 million, respectively, related to residual tax effects remaining in OCI due to previously established deferred tax asset valuation allowances in 2010 and 2011. In accordance with ASC 740-20-45-11(b), under the portfolio approach, these unrealized losses are realized at the time the entire portfolio is sold or disposed.