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Segment Reporting
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Reporting
Note 10 - Segment Reporting
Synovus' business segments are based on the products and services provided or the customers served and reflect the manner in which financial information is evaluated by the chief operating decision makers. Synovus has three major reportable business segments: Community Banking, Wholesale Banking, and Financial Management Services, with functional activities such as treasury, technology, operations, marketing, finance, enterprise risk, legal, human resources, corporate communications, executive management, among others, included in Treasury and Corporate Other.
Business segment results are determined based upon Synovus' management reporting system, which assigns balance sheet and income statement items to each of the business segments. Certain assets, liabilities, revenues, and expenses not allocated or attributable to a particular business segment are included in Treasury and Corporate Other. Synovus's third-party lending consumer loans and loans held for sale as well as PPP loans are included in Treasury and Corporate Other. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike
financial accounting, are not based on authoritative guidance similar to GAAP. As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions.
The Community Banking business segment serves customers using a relationship-based approach through its branch, ATM, commercial, and private wealth network in addition to mobile, Internet, and telephone banking. This segment primarily provides individual, small business, and corporate customers with an array of comprehensive banking products and services including commercial, home equity, and other consumer loans, credit and debit cards, and deposit accounts.
The Wholesale Banking business segment serves primarily larger corporate customers by providing commercial lending and deposit services through specialty teams including middle market, CRE, senior housing, national accounts, premium finance, structured lending, healthcare, asset-based lending, and community investment capital.
The Financial Management Services business segment serves its customers by providing mortgage and trust services and also specializing in professional portfolio management for fixed-income securities, investment banking, the execution of securities transactions as a broker/dealer, asset management, financial planning, and family office services, as well as the provision of individual investment advice on equity and other securities.
Synovus uses a centralized FTP methodology to attribute appropriate net interest income to the business segments. The intent of the FTP methodology is to transfer interest rate risk from the business segments by providing matched duration funding of assets and liabilities. The result is to centralize the financial impact, management, and reporting of interest rate risk in the Treasury and Corporate Other function where it can be centrally monitored and managed. Treasury and Corporate Other includes certain assets and/or liabilities managed within that function. Additionally, Treasury and Corporate Other also charges (credits) an internal cost of funds for assets held in (or pays for funding provided by) each business segment. The process for determining FTP is based on a number of factors and assumptions, including prevailing market interest rates, the expected lives of various assets and liabilities, and the Company's broader funding profile.
The following tables present certain financial information for each reportable business segment for the three and six months ended June 30, 2021 and 2020. The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable business segment may be periodically revised.
Three Months Ended June 30, 2021
(in thousands)Community BankingWholesale BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$202,881 $136,126 $18,935 $23,918 $381,860 
Non-interest revenue32,212 7,000 52,345 15,530 107,087 
Non-interest expense69,120 21,290 46,773 133,348 270,531 
Pre-provision net revenue$165,973 $121,836 $24,507 $(93,900)$218,416 
Three Months Ended June 30, 2020
(in thousands)Community BankingWholesale BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$219,097 $145,016 $20,069 $(7,616)$376,566 
Non-interest revenue23,747 5,682 52,976 91,079 173,484 
Non-interest expense74,764 22,934 48,394 138,049 284,141 
Pre-provision net revenue$168,080 $127,764 $24,651 $(54,586)$265,909 
Six Months Ended June 30, 2021
(in thousands)Community BankingWholesale BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$409,123 $270,200 $39,930 $36,463 $755,716 
Non-interest revenue61,966 14,319 110,928 30,830 218,043 
Non-interest expense137,178 42,014 94,447 264,026 537,665 
Pre-provision net revenue$333,911 $242,505 $56,411 $(196,733)$436,094 
Six Months Ended June 30, 2020
(in thousands)Community BankingWholesale BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Net interest income$415,601 $268,186 $37,453 $28,586 $749,826 
Non-interest revenue54,071 15,009 100,360 107,901 277,341 
Non-interest expense148,737 43,647 91,785 276,252 560,421 
Pre-provision net revenue$320,935 $239,548 $46,028 $(139,765)$466,746 
June 30, 2021
(dollars in thousands)Community BankingWholesale BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Loans, net of deferred fees and costs$10,730,544 $19,369,933 $5,078,318 $3,057,223 $38,236,018 
Total deposits$31,317,490 $10,983,120 $737,202 $4,134,150 $47,171,962 
Total full-time equivalent employees2,114 288 809 1,772 4,983 
December 31, 2020
(dollars in thousands)Community BankingWholesale BankingFinancial Management ServicesTreasury and Corporate OtherSynovus Consolidated
Loans, net of deferred fees and costs$11,171,013 $18,810,729 $5,370,790 $2,900,452 $38,252,984 
Total deposits$29,141,242 $11,958,105 $739,200 $4,853,024 $46,691,571 
Total full-time equivalent employees2,199 285 832 1,818 5,134