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Fair Value Accounting (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Financial Instruments Measured at Fair Value on Recurring Basis
The following tables present all financial instruments measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019.
June 30, 2020
(in thousands)Level 1Level 2Level 3Total Assets and Liabilities at Fair Value
Assets
Trading securities:
Mortgage-backed securities issued by U.S. Government agencies $—  $18  $—  $18  
Commercial mortgage-backed securities issued by U.S. Government sponsored enterprises—  288  —  288  
Other mortgage-backed securities—  1,620  —  1,620  
State and municipal securities—  165  —  165  
Asset-backed securities—  2,535  —  2,535  
Total trading securities$—  $4,626  $—  $4,626  
Investment securities available for sale:
U.S. Treasury securities$19,921  $—  $—  $19,921  
U.S. Government agency securities—  171,366  —  171,366  
Mortgage-backed securities issued by U.S. Government agencies —  864,428  —  864,428  
Mortgage-backed securities issued by U.S. Government sponsored enterprises —  4,444,252  —  4,444,252  
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises —  1,213,081  —  1,213,081  
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises—  365,253  —  365,253  
State and municipal securities—  1,007  —  1,007  
Corporate debt securities and other debt securities—  116,523  1,662  118,185  
Total investment securities available for sale$19,921  $7,175,910  $1,662  $7,197,493  
Mortgage loans held for sale—  266,306  —  266,306  
Private equity investments—  —  698  698  
Mutual funds and mutual funds held in rabbi trusts34,219  —  —  34,219  
GGL/SBA loans servicing asset—  —  3,019  3,019  
Derivative assets—  496,978  —  496,978  
Liabilities
Earnout liability$—  $—  $15,924  $15,924  
Derivative liabilities—  194,376  1,755  196,131  
December 31, 2019
(in thousands)Level 1Level 2Level 3Total Assets and Liabilities at Fair Value
Assets
Trading securities:
Commercial mortgage-backed securities issued by U.S. Government sponsored enterprises$—  $2,486  $—  $2,486  
Other mortgage-backed securities—  1,284  —  1,284  
State and municipal securities—  65  —  65  
Asset-backed securities —  3,227  —  3,227  
Other investments—  150  —  150  
Total trading securities$—  $7,212  $—  $7,212  
Investment securities available for sale:
U.S. Treasury securities$19,855  $—  $—  $19,855  
U.S. Government agency securities—  36,541  —  36,541  
Mortgage-backed securities issued by U.S. Government agencies —  56,816  —  56,816  
Mortgage-backed securities issued by U.S. Government sponsored enterprises —  5,180,815  —  5,180,815  
Collateralized mortgage obligations issued by U.S. Government agencies or sponsored enterprises —  636,851  —  636,851  
Commercial mortgage-backed securities issued by U.S. Government agencies or sponsored enterprises—  371,592  —  371,592  
State and municipal securities—  2,075  —  2,075  
Asset-backed securities—  327,400  —  327,400  
Corporate debt securities and other debt securities—  144,620  2,105  146,725  
Total investment securities available for sale$19,855  $6,756,710  $2,105  $6,778,670  
Mortgage loans held for sale—  115,173  —  115,173  
Private equity investments15,502  —  3,887  19,389  
Mutual funds and mutual funds held in rabbi trusts32,348  —  —  32,348  
GGL/SBA loans servicing asset—  —  3,040  3,040  
Derivative assets—  140,016  —  140,016  
Liabilities
Trading liability for short positions$1,560  $—  $—  $1,560  
Earnout liability—  —  11,016  11,016  
Derivative liabilities—  34,732  2,339  37,071  
Schedule of Mortgage Loans Held for Sale and Changes in Fair Value Included in Consolidated Statements of Income
The following table summarizes the difference between the fair value and the UPB of mortgage loans held for sale and the changes in fair value of these loans. An immaterial portion of these changes in fair value was attributable to changes in instrument-specific credit risk.
Mortgage Loans Held for Sale
(in thousands)As of June 30, 2020As of December 31, 2019
Fair value$266,306  $115,173  
Unpaid principal balance257,365  112,218  
Fair value less aggregate unpaid principal balance$8,941  $2,955  
Changes in Fair Value Included in Net Income
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2020201920202019
Mortgage loans held for sale$5,365  $345  $5,984  $701  
Changes in Level 3 Fair Value Measurements
Three Months Ended June 30, 2020
(in thousands)Investment Securities Available for SalePrivate Equity InvestmentsGGL / SBA
Loans Servicing Asset		Earnout
Liability 		Visa Derivative
Beginning balance, April 1, 2020$1,562  $3,255  $3,149  $(11,016) $(2,050) 
Total gains (losses) realized/unrealized:
Included in earnings—  (2,557) (291) (4,908) —  
Unrealized gains (losses) included in OCI100  —  —  —  —  
Additions—  —  161  —  —  
Settlements—  —  —  —  295  
Ending balance, June 30, 2020$1,662  $698  $3,019  $(15,924) $(1,755) 
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains/(losses) relating to assets/liabilities still held at June 30, 2020 $—  $(2,557) $—  $(4,908) $—  
Three Months Ended June 30, 2019
(in thousands)Investment Securities Available for SalePrivate Equity InvestmentsGGL / SBA
Loans Servicing Asset		Earnout
Liability 		Visa Derivative
Beginning balance, April 1, 2019$1,981  $9,481  $3,447  $(14,353) $(1,366) 
Total gains (losses) realized/unrealized:
Included in earnings—  82  (305) —  —  
Unrealized gains (losses) included in OCI36  —  —  —  —  
Additions—  —  184  —  —  
Settlements—  —  —  —  317  
Ending balance, June 30, 2019$2,017  $9,563  $3,326  $(14,353) $(1,049) 
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains/(losses) relating to assets/liabilities still held at June 30, 2019$—  $82  $—  $—  $—  
Six Months Ended June 30, 2020
(in thousands)Investment Securities Available for SalePrivate Equity InvestmentsGGL / SBA
Loans Servicing Asset		Earnout
Liability 		Visa Derivative
Beginning balance, December 31, 2019$2,105  $3,887  $3,040  $(11,016) $(2,339) 
Total gains (losses) realized/unrealized:
Included in earnings—  (3,189) (555) (4,908) —  
Unrealized gains (losses) included in OCI(443) —  —  —  —  
Additions—  —  534  —  —  
Settlements—  —  —  —  584  
Ending balance, June 30, 2020$1,662  $698  $3,019  $(15,924) $(1,755) 
Total net gains (losses) for the period included in earnings attributable to the change in unrealized gains/(losses) relating to assets/liabilities still held at June 30, 2020 $—  $(3,189) $—  $(4,908) $—  
Six Months Ended June 30, 2019
(in thousands)Investment Securities Available for SalePrivate Equity InvestmentsGGL / SBA
Loans Servicing Asset		Earnout
Liability 		Visa Derivative
Beginning balance, December 31, 2018$1,785  $11,028  $3,729  $(14,353) $(1,673) 
Total (losses) gains realized/unrealized:
Included in earnings—  110  (793) —  —  
Unrealized gains (losses) included in OCI232  —  —  —  —  
Additions—  —  390  —  —  
Settlements—  —  —  —  624  
Transfers out of Level 3—  (1,575) —  —  —  
Ending balance, June 30, 2019$2,017  $9,563  $3,326  $(14,353) $(1,049) 
Total net gains (losses) for the period included in earnings attributable to the change in unrealized losses relating to assets/liabilities still held at June 30, 2019$—  $110  $—  $—  $—  
Fair Value Inputs, Assets, Quantitative Information
The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a recurring basis. The range of sensitivities that management utilized in its fair value calculations is deemed acceptable in the industry with respect to the identified financial instruments.

June 30, 2020
(dollars in thousands)Valuation TechniqueSignificant Unobservable InputLevel 3 Fair ValueRate/Range
Assets measured at fair value on a recurring basis
Investment Securities Available for Sale -
Corporate debt and other debt securities - trust preferred security		Discounted cash flow analysisDiscount rate
Forecasted average Prime reset rate		$1,662
   6.51% 3.68%
Private equity investmentsIndividual analysis of each investee companyMultiple 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$698N/A
GGL/SBA loans servicing assetDiscounted cash flow analysisDiscount rate
Prepayment speeds		$3,019
 12.16% 16.10%
Earnout liabilityOption pricing methods and Monte Carlo simulationFinancial projections of Global One$15,924N/A
Visa derivative liabilityDiscounted cash flow analysisEstimated timing of resolution of Covered Litigation and future cumulative deposits to the litigation escrow for settlement of the Covered Litigation$1,755
0-1.5 years
(4Q 2021)
The table below provides an overview of the valuation techniques and significant unobservable inputs used in those techniques to measure financial instruments that are classified within Level 3 of the valuation hierarchy and are measured at fair value on a non-recurring basis.

June 30, 2020
Valuation TechniqueSignificant Unobservable Input
Range
(Weighted Average)(1)
Assets measured at fair value on a non-recurring basis
LoansThird-party appraised value of collateral less estimated selling costsDiscount to appraised value
Estimated selling costs
0%-43% (24%) 0%-10% (7%)
Other real estateThird-party appraised value of real estate less estimated selling costsDiscount to appraised value
Estimated selling costs
0%-33% (23%) 0%-10% (7%)
MPS receivable(2)
Third-party appraised value of business less estimated selling costsDiscount to appraised value
Estimated selling costs		N/A
Other assets held for saleThird-party appraised value less estimated selling costs or BOVDiscount to appraised value
Estimated selling costs
0%-66% (63%) 0%-10% (7%)
(1) The weighted average is the measure of central tendencies; it is not the value that management is using for the asset or liability.
(2) See "Part I - Item 1. Notes to Unaudited Interim Financial Statements - Note 10 - Commitments and Contingencies" of this Report for more information on this receivable which was classified as a NPA at June 30, 2020 and December 31, 2019.
Assets Measured at Fair Value on Non-Recurring Basis

June 30, 2020December 31, 2019
(in thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Loans(1)
$—  $—  $21,138  $21,138  $—  $—  $1,461  $1,461  
Other real estate—  —  5,902  5,902  —  —  8,023  8,023  
MPS receivable—  —  18,202  18,202  —  —  21,437  21,437  
Other assets held for sale—  —  1,634  1,634  —  —  1,238  1,238  
Fair Value Adjustments Recognized in Earnings for Assets Measured at Fair Value on a Non-recurring Basis
The following table presents fair value adjustments recognized in earnings for the three and six months ended June 30, 2020 and 2019 for assets measured at fair value on a non-recurring basis still held at period-end.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2020201920202019
Loans(1)
$14,950  $—  $14,950  $2,625  
Other real estate1,228  612  1,228  624  
MPS receivable—  —  2,663  —  
Other assets held for sale729  —  2,120  91  
(1) Collateral-dependent loans that were written down to fair value of collateral.
Carrying and Estimated Fair Values of Financial Instruments Carried on Balance Sheet The following tables present the carrying and estimated fair values of financial instruments at June 30, 2020 and December 31, 2019. The fair values represent management’s best estimates based on a range of methodologies and assumptions. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" to the consolidated financial statements of Synovus' 2019 Form 10-K for a description of how fair value measurements are determined.
June 30, 2020
(in thousands)Carrying ValueFair ValueLevel 1Level 2Level 3
Financial assets
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$1,571,225  $1,571,225  $1,571,225  $—  $—  
Trading securities4,626  4,626  —  4,626  —  
Investment securities available for sale7,197,493  7,197,493  19,921  7,175,910  1,662  
Loans held for sale900,936  900,936  —  266,306  634,630  
Private equity investments698  698  —  —  698  
Mutual funds and mutual funds held in rabbi trusts34,219  34,219  34,219  —  —  
Loans, net39,325,649  39,386,584  —  —  39,386,584  
GGL/SBA loans servicing asset3,019  3,019  —  —  3,019  
Derivative assets496,978  496,978  —  496,978  —  
Financial liabilities
Non-interest-bearing deposits$12,555,714  $12,555,714  $—  $12,555,714  $—  
Non-time interest-bearing deposits23,236,436  23,236,436  —  23,236,436  —  
Time deposits8,402,430  8,458,264  —  8,458,264  —  
Total deposits$44,194,580  $44,250,414  $—  $44,250,414  $—  
Federal funds purchased and securities sold under repurchase agreements225,576  225,576  225,576  —  —  
Other short-term borrowings300,000  300,000  —  300,000  —  
Long-term debt2,327,921  2,351,494  —  2,351,494  —  
Earnout liability15,924  15,924  —  —  15,924  
Derivative liabilities196,131  196,131  —  194,376  1,755  
December 31, 2019
(in thousands)Carrying ValueFair ValueLevel 1Level 2Level 3
Financial assets
Total cash, cash equivalents, restricted cash, and restricted cash equivalents$1,186,918  $1,186,918  $1,186,918  $—  $—  
Trading securities7,212  7,212  —  7,212  —  
Investment securities available for sale6,778,670  6,778,670  19,855  6,756,710  2,105  
Mortgage loans held for sale115,173  115,173  —  115,173  —  
Private equity investments19,389  19,389  15,502  —  3,887  
Mutual funds and mutual funds held in rabbi trusts32,348  32,348  32,348  —  —  
Loans, net36,881,048  36,931,256  —  —  36,931,256  
GGL/SBA loans servicing asset3,040  3,040  —  —  3,040  
Derivative assets140,016  140,016  —  140,016  —  
Financial liabilities
Non-interest-bearing deposits$9,439,485  $9,439,485  $—  $9,439,485  $—  
Non-time interest-bearing deposits19,891,711  19,891,711  —  19,891,711  —  
Time deposits9,074,308  9,112,459  —  9,112,459  —  
Total deposits$38,405,504  $38,443,655  $—  $38,443,655  $—  
Federal funds purchased and securities sold under repurchase agreements165,690  165,690  165,690  —  —  
Trading liability for short positions1,560  1,560  1,560  —  —  
Other short-term borrowings1,752,000  1,752,000  —  1,752,000  —  
Long-term debt2,153,897  2,185,717  —  2,185,717  —  
Earnout liability11,016  11,016  —  —  11,016  
Derivative liabilities37,071  37,071  —  34,732  2,339