Loans And Allowance For Loan Losses

12 Months Ended

Dec. 31, 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 December 31, 2022 and December 31, 2021.

	December 31, 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	$	13,798,639	$	15,033	$	1,437	$	16,470	$	48,008	$	11,299	$	13,874,416
Owner-occupied	8,181,649		487		—		487		9,499		605		8,192,240
Total commercial and industrial	21,980,288		15,520		1,437		16,957		57,507		11,904		22,066,656
Investment properties	11,639,614		960		—		960		1,785		1,688		11,644,047
1-4 family properties	613,049		762		—		762		2,172		950		616,933
Land and development	388,098		77		—		77		1,158		—		389,333
Total commercial real estate	12,640,761		1,799		—		1,799		5,115		2,638		12,650,313
Consumer mortgages	5,163,417		13,969		210		14,179		36,847		—		5,214,443
Home equity	1,742,412		7,795		1		7,796		6,830		—		1,757,038
Credit cards	200,047		1,843		1,722		3,565		—		—		203,612
Other consumer loans	1,795,799		21,269		3		21,272		7,220		—		1,824,291
Total consumer	8,901,675		44,876		1,936		46,812		50,897		—		8,999,384
Loans, net of deferred fees and costs	$	43,522,724	$	62,195	$	3,373	$	65,568	$	113,519	$	14,542	$	43,716,353

	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 $9.0 million and $12.0 million during the years ended December 31, 2022 and 2021, respectively. Of the interest income recognized during the years ended December 31, 2022 and 2021, cash-basis interest income was $3.0 million and $2.4 million, respectively.

Pledged Loans

Loans with carrying values of $16.09 billion and $14.19 billion, respectively, were pledged as collateral for borrowings and capacity at December 31, 2022 and 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 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 and guaranteed by the SBA, were $14.7 million and $399.6 million, net of unearned fees, at December 31, 2022 and 2021, respectively.

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 classified 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 the associated senior liens with other financial institutions.

The following table summarizes each loan portfolio class by regulatory risk grade and origination year as of December 31, 2022 as required by CECL.

	December 31, 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	$	1,276,814	$	1,911,353	$	1,009,230	$	782,100	$	536,001	$	1,037,488	$	6,862,070	$	43,748	$	13,458,804
Special Mention	4,131		14,289		12,691		6,637		5,716		2,777		81,889		1,710		129,840
Substandard(1)	13,751		17,780		38,943		42,773		18,405		21,418		131,422		1,003		285,495
Loss(3)	—		—		—		—		—		—		277		—		277
Total commercial, financial and agricultural	1,294,696		1,943,422		1,060,864		831,510		560,122		1,061,683		7,075,658		46,461		13,874,416
Owner-occupied
Pass	1,537,016		1,675,524		1,137,889		909,525		664,734		1,103,500		866,920		—		7,895,108
Special Mention	4,238		6,760		24,175		13,913		5,024		69,500		—		—		123,610
Substandard(1)	19,437		13,381		63,925		7,415		51,364		17,755		—		—		173,277
Loss(2)	—		245		—		—		—		—		—		—		245
Total owner-occupied	1,560,691		1,695,910		1,225,989		930,853		721,122		1,190,755		866,920		—		8,192,240
Total commercial and industrial	2,855,387		3,639,332		2,286,853		1,762,363		1,281,244		2,252,438		7,942,578		46,461		22,066,656
Investment properties
Pass	2,671,660		3,245,669		1,532,230		1,220,974		775,747		1,543,724		541,118		—		11,531,122
Special Mention	2,379		1,550		—		14,570		5,908		2,388		146		—		26,941
Substandard(1)	5,973		1,455		176		1,688		51,767		3,931		20,994		—		85,984
Total investment properties	2,680,012		3,248,674		1,532,406		1,237,232		833,422		1,550,043		562,258		—		11,644,047
1-4 family properties
Pass	248,418		154,181		44,032		33,246		27,053		55,543		47,732		—		610,205
Special Mention	1		—		752		—		—		297		—		—		1,050
Substandard(1)	1,309		1,429		75		741		836		1,243		45		—		5,678
Total 1-4 family properties	249,728		155,610		44,859		33,987		27,889		57,083		47,777		—		616,933
Land and development
Pass	119,801		84,055		21,984		39,484		18,600		64,854		5,078		—		353,856
Special Mention	—		—		744		—		29,618		1,118		—		—		31,480
Substandard(1)	699		325		220		627		472		1,654		—		—		3,997
Total land and development	120,500		84,380		22,948		40,111		48,690		67,626		5,078		—		389,333
Total commercial real estate	3,050,240		3,488,664		1,600,213		1,311,330		910,001		1,674,752		615,113		—		12,650,313

	December 31, 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
Consumer mortgages
Pass	$	857,489	$	1,188,652	$	1,356,065	$	458,441	$	182,834	$	1,118,686	$	143	$	—	$	5,162,310
Substandard(1)	1,153		6,452		8,519		9,442		6,167		19,662		—		—		51,395
Loss(2)	—		—		—		4		—		734		—		—		738
Total consumer mortgages	858,642		1,195,104		1,364,584		467,887		189,001		1,139,082		143		—		5,214,443
Home equity
Pass	—		—		—		—		—		—		1,241,201		504,272		1,745,473
Substandard(1)	—		—		—		—		—		—		6,534		4,512		11,046
Loss(2)	—		—		—		—		—		—		402		117		519
Total home equity	—		—		—		—		—		—		1,248,137		508,901		1,757,038
Credit cards
Pass	—		—		—		—		—		—		201,898		—		201,898
Substandard(1)	—		—		—		—		—		—		617		—		617
Loss(3)	—		—		—		—		—		—		1,097		—		1,097
Total credit cards	—		—		—		—		—		—		203,612		—		203,612
Other consumer loans
Pass	284,045		524,601		457,684		61,760		31,662		142,189		313,565		—		1,815,506
Substandard(1)	1,417		3,810		1,648		712		163		888		139		—		8,777
Loss(3)	—		—		—		—		—		8		—		—		8
Total other consumer loans	285,462		528,411		459,332		62,472		31,825		143,085		313,704		—		1,824,291
Total consumer	1,144,104		1,723,515		1,823,916		530,359		220,826		1,282,167		1,765,596		508,901		8,999,384
Loans, net of deferred fees and costs	$	7,049,731	$	8,851,511	$	5,710,982	$	3,604,052	$	2,412,071	$	5,209,357	$	10,323,287	$	555,362	$	43,716,353

(1)    The majority of loans within Substandard risk grade are accruing loans at December 31, 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(4)	—		—		—		—		—		—		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
Loan, 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 years ended December 31, 2022 and 2021.    

Rollforward of Allowance for Loan Losses

The following tables detail the changes in the ALL by loan segment for the years ended December 31, 2022, 2021, and 2020. For the years ended December 31, 2022 and 2021, Synovus had no significant transfers to loans held for sale. For the year ended December 31, 2020, Synovus reversed a net amount of $18.3 million in previously established reserves for credit losses associated with net transfers to held for sale of $1.43 billion in performing loans, primarily related to third-party single-service consumer loans and non-relationship consumer mortgages.

	As of and For The Year Ended December 31, 2022
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance	$	188,364	$	97,760	$	141,473	$	427,597
Charge-offs	(42,588)		(3,102)		(38,020)		(83,710)
Recoveries	14,625		1,633		14,296		30,554
Provision for (reversal of) loan losses	1,149		47,284		20,550		68,983
Ending balance	$	161,550	$	143,575	$	138,299	$	443,424

	As of and For The Year Ended December 31, 2021
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance	$	229,555	$	130,742	$	245,439	$	605,736
Charge-offs	(59,457)		(15,392)		(30,383)		(105,232)
Recoveries	9,734		7,444		10,266		27,444
Provision for (reversal of) loan losses	8,532		(25,034)		(83,849)		(100,351)
Ending balance	$	188,364	$	97,760	$	141,473	$	427,597
	As of and For The Year Ended December 31, 2020
(in thousands)	Commercial & Industrial		Commercial Real Estate		Consumer		Total
Allowance for loan losses:
Beginning balance, prior to adoption of ASC 326	$	145,782	$	67,430	$	68,190	$	281,402
Impact from adoption of ASC 326	(2,310)		(651)		85,955		82,994
Beginning balance, after adoption of ASC 326	143,472		66,779		154,145		364,396
Charge-offs	(76,260)		(13,213)		(29,789)		(119,262)
Recoveries	13,544		2,857		8,149		24,550
Provision for (reversal of) loan losses	148,799		74,319		112,934		336,052
Ending balance	$	229,555	$	130,742	$	245,439	$	605,736

The ALL of $443.4 million and the reserve for unfunded commitments of $57.5 million, which is recorded in other liabilities, comprise the total ACL of $500.9 million at December 31, 2022. The ACL increased $31.4 million compared to the December 31, 2021 ACL of $469.5 million, which consisted of an ALL of $427.6 million and the reserve for unfunded commitments of $41.9 million. The ACL to loans coverage ratio of 1.15% at December 31, 2022 was 4 bps lower compared to December 31, 2021. The increase in the ACL from December 31, 2021 resulted primarily from loan growth and an increase in the reserve for unfunded commitments, largely due to an increase in both reserve rates and the level of 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 December 31, 2022, the unemployment rate is the input that most significantly impacts our estimate. The multi-scenario forecast used in our estimate includes a weighted average unemployment rate of 4.7% over the forecast period at December 31, 2022, compared to 4.4% at December 31, 2021.

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. The following tables present, by concession type, the post-modification balance for loans modified or renewed during the years ended December 31, 2022, 2021, and 2020 that were reported as accruing or non-accruing TDRs.

TDRs by Concession Type
	Year Ended December 31, 2022
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial, and agricultural	86	$	34,518	$	1,279	$	35,797
Owner-occupied	29	65,956		3,857		69,813
Total commercial and industrial	115	100,474		5,136		105,610
Investment properties	7	5,026		6,610		11,636
1-4 family properties	14	3,850		—		3,850
Land and development	4	3,168		—		3,168
Total commercial real estate	25	12,044		6,610		18,654
Consumer mortgages	10	1,176		266		1,442
Home equity	41	4,836		39		4,875
Other consumer loans	15	—		605		605
Total consumer	66	6,012		910		6,922
Loans, net of deferred fees and costs	206	$	118,530	$	12,656	$	131,186	(2)

	Year Ended December 31, 2021
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial, and agricultural	152	$	12,746	$	8,096	$	20,842
Owner-occupied	24	5,908		868		6,776
Total commercial and industrial	176	18,654		8,964		27,618
Investment properties	9	3,130		—		3,130
1-4 family properties	13	1,131		123		1,254
Land and development	8	1,948		60		2,008
Total commercial real estate	30	6,209		183		6,392
Consumer mortgages	18	2,512		1,006		3,518
Home equity	55	4,991		258		5,249
Other consumer loans	103	435		5,720		6,155
Total consumer	176	7,938		6,984		14,922
Loans, net of deferred fees and costs	382	$	32,801	$	16,131	$	48,932	(3)

TDRs by Concession Type (continued)
	Year Ended December 31, 2020
(in thousands, except contract data)	Number of Contracts	Below Market Interest Rate		Other Concessions(1)		Total
Commercial, financial, and agricultural	152	$	10,939	$	11,912	$	22,851
Owner-occupied	22	4,536		1,530		6,066
Total commercial and industrial	174	15,475		13,442		28,917
Investment properties	9	29,679		1,420		31,099
1-4 family properties	22	1,769		1,105		2,874
Land and development	4	606		—		606
Total commercial real estate	35	32,054		2,525		34,579
Consumer mortgages	23	1,866		2,789		4,655
Home equity	63	1,970		2,530		4,500
Other consumer loans	57	1,185		2,779		3,964
Total consumer	143	5,021		8,098		13,119
Loans, net of deferred fees and costs	352	$	52,550	$	24,065	$	76,615	(4)

(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 years ended December 31, 2022, 2021, and 2020.

(2)    No charge-offs were recorded during the year ended December 31, 2022 upon restructuring of these loans.

(3)    No charge-offs were recorded during the year ended December 31, 2021 upon restructuring of these loans.

(4)    No charge-offs were recorded during the year ended December 31, 2020 upon restructuring of these loans.

For the years ended December 31, 2022, 2021 and 2020, there were five defaults with a recorded investment of $1.0 million, eight defaults with a recorded investment of $978 thousand, and seven defaults with a recorded investment of $21.7 million, 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). As of December 31, 2022 and 2021, there were no commitments to lend a material amount of additional funds to any clients whose loans were classified as TDRs.