Loans and Allowance for Loan Losses

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Loans and Allowance for Loan Losses

Note 3 - Loans and Allowance for Loan Losses

Aging and Non-Accrual Analysis

The following tables provide a summary of current, accruing past due, and non-accrual loans by portfolio class as of September 30, 2022 and December 31, 2021.

	September 30, 2022
(in thousands)	Current		Accruing 30-89 Days Past Due		Accruing 90 Days or Greater Past Due		Total Accruing Past Due		Non-accrual with an ALL		Non-accrual without an ALL		Total
Commercial, financial and agricultural	$	13,180,498	$	14,050	$	1,143	$	15,193	$	33,712	$	25,563	$	13,254,966
Owner-occupied	7,943,776		4,673		668		5,341		7,828		605		7,957,550
Total commercial and industrial	21,124,274		18,723		1,811		20,534		41,540		26,168		21,212,516
Investment properties	11,232,942		421		—		421		2,702		2,339		11,238,404
1-4 family properties	635,157		1,379		—		1,379		2,026		1,065		639,627
Land and development	408,151		115		—		115		1,668		—		409,934
Total commercial real estate	12,276,250		1,915		—		1,915		6,396		3,404		12,287,965
Consumer mortgages	5,123,759		10,642		—		10,642		32,527		—		5,166,928
Home equity	1,695,825		5,225		75		5,300		7,121		—		1,708,246
Credit cards	194,860		1,561		1,557		3,118		—		—		197,978
Other consumer loans	1,970,851		22,036		—		22,036		4,938		—		1,997,825
Total consumer	8,985,295		39,464		1,632		41,096		44,586		—		9,070,977
Loans, net of deferred fees and costs	$	42,385,819	$	60,102	$	3,443	$	63,545	$	92,522	$	29,572	$	42,571,458

	December 31, 2021
(in thousands)	Current		Accruing 30-89 Days Past Due		Accruing 90 Days or Greater Past Due		Total Accruing Past Due		Non-accrual with an ALL		Non-accrual without an ALL		Total
Commercial, financial and agricultural	$	12,068,740	$	13,378	$	3,953	$	17,331	$	37,918	$	23,869	$	12,147,858
Owner-occupied	7,460,184		3,627		59		3,686		7,146		4,050		7,475,066
Total commercial and industrial	19,528,924		17,005		4,012		21,017		45,064		27,919		19,622,924
Investment properties	9,894,924		1,285		717		2,002		3,273		2,577		9,902,776
1-4 family properties	639,631		1,182		93		1,275		4,535		28		645,469
Land and development	463,949		845		154		999		1,918		—		466,866
Total commercial real estate	10,998,504		3,312		964		4,276		9,726		2,605		11,015,111
Consumer mortgages	5,033,537		6,257		126		6,383		29,078		—		5,068,998
Home equity	1,349,027		2,619		—		2,619		9,773		—		1,361,419
Credit cards	201,929		1,233		1,010		2,243		—		—		204,172
Other consumer loans	2,011,430		20,369		658		21,027		6,877		—		2,039,334
Total consumer	8,595,923		30,478		1,794		32,272		45,728		—		8,673,923
Loans, net of deferred fees and costs	$	39,123,351	$	50,795	$	6,770	$	57,565	$	100,518	$	30,524	$	39,311,958

Interest income on non-accrual loans outstanding that would have been recorded if the loans had been current and performing in accordance with their original terms was $1.2 million and $4.4 million for the three months ended September 30, 2022 and 2021, respectively, and $6.6 million and $10.7 million for the nine months ended September 30, 2022 and 2021, respectively. Of the interest income recognized during the three months ended September 30, 2022 and 2021, cash-basis interest income was $1.3 million and $646 thousand, respectively. Cash-basis interest income was $2.2 million and $1.9 million for the nine months ended September 30, 2022 and 2021, respectively.

Pledged Loans

Loans with carrying values of $14.82 billion and $14.19 billion, respectively, were pledged as collateral for borrowings and capacity at September 30, 2022 and December 31, 2021, respectively, to the FHLB and Federal Reserve Bank.

Portfolio Segment Risk Factors

The risk characteristics and collateral information of each portfolio segment are as follows:

Commercial and Industrial Loans - The C&I loan portfolio is primarily comprised of general middle market and commercial banking clients across a diverse set of industries. In accordance with Synovus' lending policy, each loan undergoes a detailed underwriting process, which incorporates uniform underwriting standards and oversight in proportion to the size and complexity of the lending relationship. These loans are secured by collateral such as business equipment, inventory, and real estate. Credit decisions on loans in the C&I portfolio are based on cash flow from the operations of the business as the primary source of repayment of the debt, with underlying real estate or other collateral being the secondary source of repayment. PPP loans, which are categorized as C&I loans, were $42.8 million at September 30, 2022 and are guaranteed by the SBA.

Commercial Real Estate Loans - CRE loans primarily consist of income-producing investment properties loans. Additionally, CRE loans include 1-4 family properties loans as well as land and development loans. Investment properties loans consist of construction and mortgage loans for income-producing properties and are primarily made to finance multi-family properties, hotels, office buildings, shopping centers, warehouses and other commercial development properties. 1-4 family properties loans include construction loans to homebuilders and commercial mortgage loans related to 1-4 family rental properties and are almost always secured by the underlying property being financed by such loans. These properties are primarily located in the markets served by Synovus. Land and development loans include commercial and residential development as well as land acquisition loans and are secured by land held for future development, typically in excess of one year. Properties securing these loans are substantially within markets served by Synovus, and loan terms generally include personal guarantees from the principals. Loans in this portfolio are underwritten based on the LTV of the collateral and the capacity of the guarantor(s).

Consumer Loans - The consumer loan portfolio consists of a wide variety of loan products offered through Synovus' banking network, including first and second residential mortgages, home equity, and consumer credit card loans, as well as home improvement loans, student, personal, and auto loans from third-party lending ("other consumer loans"). Together, consumer mortgages and home equity comprise the majority of Synovus' consumer loans and are secured by first and second liens on residential real estate primarily located in the markets served by Synovus. The primary source of repayment for all consumer loans is generally the personal income of the borrower(s).

Credit Quality Indicators

The credit quality of the loan portfolio is reviewed and updated no less frequently than annually using the standard asset classification system utilized by the federal banking agencies. These classifications are divided into three groups: Not Criticized (Pass), Special Mention, and Classified or Adverse rating (Substandard, Doubtful, and Loss) and are defined as follows:

Pass - loans which are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell in a timely manner, of any underlying collateral.

Special Mention - loans which have potential weaknesses that deserve management's close attention. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant an adverse classification.

Substandard - loans which are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Loans with this classification are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful - loans which have all the weaknesses inherent in loans categorized as Substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently known facts, conditions, and values.

Loss - loans which are considered by management to be uncollectible and of such little value that their continuance on the institution's books as an asset, without establishment of a specific valuation allowance or charge-off, is not warranted. Synovus fully reserves for any loans rated as Loss.

In the following tables, consumer loans are generally assigned a risk grade similar to the classifications described above; however, upon reaching 90 days and 120 days past due, they are generally downgraded to Substandard and Loss, respectively, in accordance with the FFIEC Retail Credit Classification Policy. Additionally, in accordance with Interagency Supervisory Guidance, the risk grade classifications of consumer loans (consumer mortgages and home equity) secured by junior liens on 1-4 family residential properties also consider available information on the payment status of any associated senior liens with other financial institutions.

The following tables summarize each loan portfolio class by risk grade and origination year as of September 30, 2022 and December 31, 2021 as required under CECL.

	September 30, 2022
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2022		2021		2020		2019		2018		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Commercial, financial and agricultural
Pass	$	860,597	$	1,983,388	$	1,042,337	$	750,084	$	547,483	$	1,084,995	$	6,516,708	$	49,886	$	12,835,478
Special Mention	2,120		21,325		8,114		10,613		14,342		3,229		72,584		—		132,327
Substandard(1)	11,506		9,902		47,837		45,717		18,900		23,161		129,797		341		287,161
Total commercial, financial and agricultural	874,223		2,014,615		1,098,288		806,414		580,725		1,111,385		6,719,089		50,227		13,254,966
Owner-occupied
Pass	1,113,875		1,724,981		1,181,262		989,383		680,033		1,273,518		747,718		—		7,710,770
Special Mention	314		2,685		81,888		5,239		45,718		26,066		—		—		161,910
Substandard(1)	18,642		14,220		3,950		8,254		20,423		19,127		—		—		84,616
Loss(2)	—		254		—		—		—		—		—		—		254
Total owner-occupied	1,132,831		1,742,140		1,267,100		1,002,876		746,174		1,318,711		747,718		—		7,957,550
Total commercial and industrial	2,007,054		3,756,755		2,365,388		1,809,290		1,326,899		2,430,096		7,466,807		50,227		21,212,516
Investment properties
Pass	2,061,147		3,081,003		1,580,596		1,382,386		845,599		1,645,301		498,586		—		11,094,618
Special Mention	389		1,119		—		14,691		14,331		30,219		147		—		60,896
Substandard(1)	5,997		160		—		2,931		46,086		6,657		21,059		—		82,890
Total investment properties	2,067,533		3,082,282		1,580,596		1,400,008		906,016		1,682,177		519,792		—		11,238,404
1-4 family properties
Pass	225,361		169,586		50,225		34,713		28,576		64,688		58,651		—		631,800
Special Mention	234		—		729		382		—		200		—		—		1,545
Substandard(1)	1,327		1,549		44		364		1,072		1,881		45		—		6,282
Total 1-4 family properties	226,922		171,135		50,998		35,459		29,648		66,769		58,696		—		639,627

	September 30, 2022
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2022		2021		2020		2019		2018		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Land and development
Pass	103,712		102,393		24,291		45,011		20,242		71,152		5,626		—		372,427
Special Mention	—		—		760		—		31,100		—		—		—		31,860
Substandard(1)	796		347		222		635		475		3,172		—		—		5,647
Total land and development	104,508		102,740		25,273		45,646		51,817		74,324		5,626		—		409,934
Total commercial real estate	2,398,963		3,356,157		1,656,867		1,481,113		987,481		1,823,270		584,114		—		12,287,965
Consumer mortgages
Pass	692,601		1,217,441		1,391,388		470,984		184,922		1,156,026		160		—		5,113,522
Substandard(1)	993		5,259		6,931		10,564		6,692		22,211		—		—		52,650
Loss(2)	—		—		—		4		—		752		—		—		756
Total consumer mortgages	693,594		1,222,700		1,398,319		481,552		191,614		1,178,989		160		—		5,166,928
Home equity
Pass	—		—		—		—		—		—		1,228,035		469,382		1,697,417
Substandard(1)	—		—		—		—		—		—		5,764		4,508		10,272
Loss(2)	—		—		—		—		—		—		420		137		557
Total home equity	—		—		—		—		—		—		1,234,219		474,027		1,708,246
Credit cards
Pass	—		—		—		—		—		—		196,695		—		196,695
Substandard(1)	—		—		—		—		—		—		515		—		515
Loss(3)	—		—		—		—		—		—		768		—		768
Total credit cards	—		—		—		—		—		—		197,978		—		197,978
Other consumer loans
Pass	300,452		591,166		503,807		72,693		37,153		159,971		324,733		—		1,989,975
Substandard(1)	1,765		2,710		1,252		916		247		805		147		—		7,842
Loss(3)	—		—		—		—		—		8		—		—		8
Total other consumer loans	302,217		593,876		505,059		73,609		37,400		160,784		324,880		—		1,997,825
Total consumer	995,811		1,816,576		1,903,378		555,161		229,014		1,339,773		1,757,237		474,027		9,070,977
Loans, net of deferred fees and costs	$	5,401,828	$	8,929,488	$	5,925,633	$	3,845,564	$	2,543,394	$	5,593,139	$	9,808,158	$	524,254	$	42,571,458

(1)    The majority of loans within Substandard risk grade are accruing loans at September 30, 2022.

(2)    Loans within Loss risk grade are on non-accrual status and have an ALL equal to the full loan amount.

(3)    Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an ALL equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Retail Credit Classification Policy.

	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2021		2020		2019		2018		2017		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Commercial, financial and agricultural
Pass	$	2,396,717	$	1,332,549	$	922,396	$	607,918	$	433,045	$	903,995	$	5,151,981	$	42,809	$	11,791,410
Special Mention	2,731		15,166		17,571		10,433		2,242		2,489		71,996		—		122,628
Substandard(1)	16,105		50,979		40,125		10,383		16,473		37,565		51,442		33		223,105
Doubtful(2)	469		—		1,601		8,512		—		—		48		—		10,630
Loss(3)	—		—		—		—		—		—		85		—		85
Total commercial, financial and agricultural	2,416,022		1,398,694		981,693		637,246		451,760		944,049		5,275,552		42,842		12,147,858
Owner-occupied
Pass	1,776,086		1,276,797		1,117,825		858,721		708,942		1,116,766		437,724		—		7,292,861
Special Mention	702		19,950		4,724		10,202		18,109		36,481		—		—		90,168
Substandard(1)	7,312		1,294		8,386		43,276		6,169		25,329		—		—		91,766
Loss(3)	271		—		—		—		—		—		—		—		271
Total owner-occupied	1,784,371		1,298,041		1,130,935		912,199		733,220		1,178,576		437,724		—		7,475,066
Total commercial and industrial	4,200,393		2,696,735		2,112,628		1,549,445		1,184,980		2,122,625		5,713,276		42,842		19,622,924
Investment properties
Pass	2,823,978		1,463,503		1,905,534		1,019,765		738,036		1,317,634		278,697		—		9,547,147
Special Mention	6,163		—		32,290		63,900		59,194		44,532		33,659		—		239,738
Substandard(1)	1,465		326		8,550		57,127		3,564		23,505		21,354		—		115,891
Total investment properties	2,831,606		1,463,829		1,946,374		1,140,792		800,794		1,385,671		333,710		—		9,902,776
1-4 family properties
Pass	295,082		82,976		51,939		43,025		49,057		57,025		55,588		—		634,692
Special Mention	192		207		641		—		—		239		—		—		1,279
Substandard(1)	1,999		—		566		4,222		489		2,177		45		—		9,498
Total 1-4 family properties	297,273		83,183		53,146		47,247		49,546		59,441		55,633		—		645,469
Land and development
Pass	141,614		42,201		77,868		34,058		37,167		44,989		44,730		—		422,627
Special Mention	—		800		1,900		31,458		—		1,179		—		—		35,337
Substandard(1)	824		1,149		46		3,021		807		3,055		—		—		8,902
Total land and development	142,438		44,150		79,814		68,537		37,974		49,223		44,730		—		466,866
Total commercial real estate	3,271,317		1,591,162		2,079,334		1,256,576		888,314		1,494,335		434,073		—		11,015,111

	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(in thousands)	2021		2020		2019		2018		2017		Prior		Amortized Cost Basis		Converted to Term Loans		Total
Consumer mortgages
Pass	1,274,999		1,556,733		572,467		216,277		392,492		1,001,771		255		—		5,014,994
Substandard(1)	1,031		3,680		5,943		12,387		5,717		25,025		—		—		53,783
Loss(3)	—		—		5		—		—		216		—		—		221
Total consumer mortgages	1,276,030		1,560,413		578,415		228,664		398,209		1,027,012		255		—		5,068,998
Home equity
Pass	—		—		—		—		—		—		1,199,556		146,635		1,346,191
Substandard(1)	—		—		—		—		—		—		9,058		5,372		14,430
Loss(3)	—		—		—		—		—		—		658		140		798
Total home equity	—		—		—		—		—		—		1,209,272		152,147		1,361,419
Credit cards
Pass	—		—		—		—		—		—		203,161		—		203,161
Substandard(1)	—		—		—		—		—		—		348		—		348
Loss(4)	—		—		—		—		—		—		663		—		663
Total credit cards	—		—		—		—		—		—		204,172		—		204,172
Other consumer loans
Pass	654,419		708,937		127,131		49,993		86,175		97,765		306,500		—		2,030,920
Substandard(1)	668		1,550		2,064		1,308		1,892		750		162		—		8,394
Loss(4)	—		—		—		—		—		20		—		—		20
Total other consumer loans	655,087		710,487		129,195		51,301		88,067		98,535		306,662		—		2,039,334
Total consumer	1,931,117		2,270,900		707,610		279,965		486,276		1,125,547		1,720,361		152,147		8,673,923
Loans, net of deferred fees and costs	$	9,402,827	$	6,558,797	$	4,899,572	$	3,085,986	$	2,559,570	$	4,742,507	$	7,867,710	$	194,989	$	39,311,958

(1)    The majority of loans within Substandard risk grade are accruing loans at December 31, 2021.

(2)    Loans within Doubtful risk grade are on non-accrual status and generally have an ALL equal to 50% of the loan amount.

(3)    Loans within Loss risk grade are on non-accrual status and have an ALL equal to the full loan amount.

(4)    Represent amounts that were 120 days past due. These credits are downgraded to the Loss category with an ALL equal to the full loan amount and are generally charged off upon reaching 181 days past due in accordance with the FFIEC Retail Credit Classification Policy.

Collateral-Dependent Loans

We classify a loan as collateral-dependent when our borrower is experiencing financial difficulty, and we expect repayment to be provided substantially through the operation or sale of collateral. Our commercial loans have collateral that is comprised of real estate and business assets. Our consumer loans have collateral that is substantially comprised of residential real estate.

There were no significant changes in the extent to which collateral secures our collateral-dependent loans during the three and nine months ended September 30, 2022.

Rollforward of Allowance for Loan Losses

The following tables detail the changes in the ALL by loan segment for the three and nine months ended September 30, 2022 and 2021.

	As Of and For the Three Months Ended September 30, 2022
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at June 30, 2022	$	160,008	$	104,218	$	143,611	$	407,837
Charge-offs	(6,676)		(143)		(8,903)		(15,722)
Recoveries	6,904		425		3,711		11,040
Provision for (reversal of) loan losses	(1,209)		17,101		2,312		18,204
Ending balance at September 30, 2022	$	159,027	$	121,601	$	140,731	$	421,359
	As Of and For the Three Months Ended September 30, 2021
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at June 30, 2021	$	254,938	$	92,113	$	169,657	$	516,708
Charge-offs	(20,230)		(718)		(8,933)		(29,881)
Recoveries	1,760		4,535		3,070		9,365
Provision for (reversal of) loan losses	(5,961)		(4,278)		6,290		(3,949)
Ending balance at September 30, 2021	$	230,507	$	91,652	$	170,084	$	492,243
	As Of and For the Nine Months Ended September 30, 2022
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at December 31, 2021	$	188,364	$	97,760	$	141,473	$	427,597
Charge-offs	(35,951)		(2,851)		(25,765)		(64,567)
Recoveries	12,476		1,358		10,877		24,711
Provision for (reversal of) loan losses	(5,862)		25,334		14,146		33,618
Ending balance at September 30, 2022	$	159,027	$	121,601	$	140,731	$	421,359
	As Of and For the Nine Months Ended September 30, 2021
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance at December 31, 2020	$	229,555	$	130,742	$	245,439	$	605,736
Charge-offs	(48,374)		(14,877)		(22,808)		(86,059)
Recoveries	6,027		5,938		6,828		18,793
Provision for (reversal of) loan losses	43,299		(30,151)		(59,375)		(46,227)
Ending balance at September 30, 2021	$	230,507	$	91,652	$	170,084	$	492,243

The ALL of $421.4 million and the reserve for unfunded commitments of $57.9 million, which is recorded in other liabilities, comprise the total ACL of $479.3 million at September 30, 2022. The ACL increased $9.8 million compared to the December 31, 2021 ACL of $469.5 million, which consisted of the ALL of $427.6 million and the reserve for unfunded commitments of $41.9 million. The ACL to loans coverage ratio of 1.13% at September 30, 2022 was 6 bps lower compared to December 31, 2021 due to overall improvement in economic factors, primarily the unemployment rate.

The increase in the ACL from December 31, 2021 resulted primarily from loan growth and an increase in unfunded commitments mostly offset by decreased specific reserves and continued positive trends in our credit performance.

The ACL is estimated using a two-year reasonable and supportable forecast period. To the extent the lives of the loans in the portfolio extend beyond the period for which a reasonable and supportable forecast can be made, the Company reverts on a

straight-line basis back to the historical rates over a one-year period. Synovus utilizes multiple economic forecast scenarios sourced from a reputable third-party provider that are probability-weighted internally. The current scenarios include a consensus baseline forecast, an upside scenario reflecting an accelerated recovery, a downside scenario that reflects adverse economic conditions, and an additional adverse scenario that assumes consistent slow growth that is less optimistic than the baseline. At September 30, 2022, economic scenario weights incorporated a 70% downside bias to the baseline scenario compared to 43% at December 31, 2021. The downside scenario that assumes consistent slow growth is the highest internally-weighted economic scenario and includes an average unemployment rate of 4.5% and average GDP of 1.4% over the forecast period at September 30, 2022, compared to 5.1% and 2.2%, respectively, at December 31, 2021.

The provision for credit losses of $25.6 million and $49.7 million for the three and nine months ended September 30, 2022 included net charge-offs of $4.7 million and $39.9 million, respectively, and represented loan growth as well as uncertain economic conditions. $3.0 million and $10.5 million in reserves, respectively, were also added as a result of purchases of $152.9 million and $514.5 million of third-party lending loans for the three and nine months ended September 30, 2022, respectively.

TDRs

Information about Synovus' TDRs is presented in the following tables. Synovus began entering into loan modifications with borrowers in response to the COVID-19 pandemic under the CARES Act, some of which had not been classified as TDRs. The CARES Act election period ended on January 1, 2022. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" in Synovus' 2021 Form 10-K for information on Synovus' loan modifications due to COVID-19. The following tables represent, by concession type, the post-modification balance for loans modified or renewed during the three and nine months ended September 30, 2022 and 2021 that were reported as accruing or non-accruing TDRs.

TDRs by Concession Type
	Three Months Ended September 30, 2022
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	22	$	6,559	$	150	$	6,709
Owner-occupied	4	3,623		—		3,623
Total commercial and industrial	26	10,182		150		10,332
Investment properties	2	3,748		—		3,748
1-4 family properties	3	654		—		654
Land and development	—	—		—		—
Total commercial real estate	5	4,402		—		4,402
Consumer mortgages	—	—		—		—
Home equity	5	173		—		173
Other consumer loans	2	—		25		25
Total consumer	7	173		25		198
Total TDRs	38	$	14,757	$	175	$	14,932	(2)
	Three Months Ended September 30, 2021
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	44	$	3,437	$	2,642	$	6,079
Owner-occupied	10	2,488		469		2,957
Total commercial and industrial	54	5,925		3,111		9,036
Investment properties	2	637		—		637
1-4 family properties	3	—		84		84
Land and development	2	636		17		653
Total commercial real estate	7	1,273		101		1,374
Consumer mortgages	8	1,167		477		1,644
Home equity	16	2,655		—		2,655
Other consumer loans	7	44		476		520
Total consumer	31	3,866		953		4,819
Total TDRs	92	$	11,064	$	4,165	$	15,229	(3)

(1)    Other concessions generally include term extensions, interest only payments for a period of time, or principal forgiveness, but there was no principal forgiveness for the three months ended September 30, 2022 and 2021.

(2)    No net charge-offs were recorded during the three months ended September 30, 2022.

(3)    No net charge-offs were recorded during the three months ended September 30, 2021.

	Nine Months Ended September 30, 2022
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	78	$	32,993	$	957	$	33,950
Owner-occupied	24	32,157		3,857		36,014
Total commercial and industrial	102	65,150		4,814		69,964
Investment properties	7	5,027		6,610		11,637
1-4 family properties	14	3,851		—		3,851
Land and development	4	3,168		—		3,168
Total commercial real estate	25	12,046		6,610		18,656
Consumer mortgages	10	1,176		266		1,442
Home equity	30	3,592		39		3,631
Other consumer loans	8	—		164		164
Total consumer	48	4,768		469		5,237
Total TDRs	175	$	81,964	$	11,893	$	93,857	(2)
	Nine Months Ended September 30, 2021
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial and agricultural	102	$	8,440	$	6,379	$	14,819
Owner-occupied	20	4,897		867		5,764
Total commercial and industrial	122	13,337		7,246		20,583
Investment properties	8	3,040		—		3,040
1-4 family properties	10	621		123		744
Land and development	4	1,003		59		1,062
Total commercial real estate	22	4,664		182		4,846
Consumer mortgages	10	1,498		477		1,975
Home equity	43	4,142		258		4,400
Other consumer loans	93	360		5,340		5,700
Total consumer	146	6,000		6,075		12,075
Total TDRs	290	$	24,001	$	13,503	$	37,504	(3)

(1)    Other concessions generally include term extensions, interest only payments for a period of time, or principal forgiveness, but there was no principal forgiveness for the nine months ended September 30, 2022 and 2021.

(2)    No net charge-offs were recorded during the nine months ended September 30, 2022.

(3)    No net charge-offs were recorded during the nine months ended September 30, 2021.

    For the three and nine months ended September 30, 2022, there was one default with a recorded investment of $109 thousand and four defaults with a recorded investment of $539 thousand, respectively, on accruing TDRs restructured during the previous twelve months (defaults are defined as the earlier of the TDR being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments) compared to two defaults with a recorded investment of $536 thousand and seven defaults with a recorded investment of $708 thousand, respectively, for the three and nine months ended September 30, 2021. As of September 30, 2022 and December 31, 2021, there were no commitments to lend a material amount of additional funds to any client whose loan was classified as a TDR.