v3.25.2
Loans and Allowance for Loan Losses
 6 Months Ended
Jun. 30, 2025
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 June 30, 2025 and December 31, 2024.
June 30, 2025
(in thousands)CurrentAccruing 30-89 Days Past Due
Accruing 90 Days or Greater Past Due
Total Accruing Past Due
Non-accrual with an ALLNon-accrual without an ALLTotal
Commercial, financial and agricultural$15,113,723 $12,810 $2,098 $14,908 $100,571 $9,610 $15,238,812 
Owner-occupied7,797,157 7,168 36,079 43,247 11,077 8,051 7,859,532 
Total commercial and industrial22,910,880 19,978 38,177 58,155 111,648 17,661 23,098,344 
Investment properties11,250,988 1,009 — 1,009 35,401 22,122 11,309,520 
1-4 family properties533,156 1,336 — 1,336 2,386 — 536,878 
Land and development291,330 608 — 608 1,354 — 293,292 
Total commercial real estate12,075,474 2,953 — 2,953 39,141 22,122 12,139,690 
Consumer mortgages5,192,882 10,582 — 10,582 41,849 1,627 5,246,940 
Home equity1,815,612 19,559 — 19,559 17,098 615 1,852,884 
Credit cards191,172 1,656 1,802 3,458 — — 194,630 
Other consumer loans989,014 9,474 86 9,560 5,620 34 1,004,228 
Total consumer8,188,680 41,271 1,888 43,159 64,567 2,276 8,298,682 
Loans, net of deferred fees and costs(1)(2)
$43,175,034 $64,202 $40,065 $104,267 $215,356 $42,059 $43,536,716 
                                                                                                                                                                                                                                                                                                                                                                        
December 31, 2024
(in thousands)CurrentAccruing 30-89 Days Past DueAccruing 90 Days or Greater Past DueTotal Accruing Past DueNon-accrual with an ALLNon-accrual without an ALLTotal
Commercial, financial and agricultural$14,352,839 $12,947 $10,332 $23,279 $98,145 $24,729 $14,498,992 
Owner-occupied7,754,052 7,700 36,005 43,705 21,119 13,261 7,832,137 
Total commercial and industrial22,106,891 20,647 46,337 66,984 119,264 37,990 22,331,129 
Investment properties11,105,168 2,006 — 2,006 74,030 — 11,181,204 
1-4 family properties541,897 1,636 — 1,636 2,385 — 545,918 
Land and development284,793 1,113 202 1,315 1,389 — 287,497 
Total commercial real estate11,931,858 4,755 202 4,957 77,804 — 12,014,619 
Consumer mortgages5,228,580 9,362 — 9,362 50,834 — 5,288,776 
Home equity1,800,614 13,131 177 13,308 17,365 — 1,831,287 
Credit cards182,435 1,573 1,863 3,436 — — 185,871 
Other consumer loans940,608 10,818 13 10,831 5,907 — 957,346 
Total consumer8,152,237 34,884 2,053 36,937 74,106 — 8,263,280 
Loans, net of deferred fees and costs(1)(2)
$42,190,986 $60,286 $48,592 $108,878 $271,174 $37,990 $42,609,028 
(1) The amortized cost basis of loans, net of deferred fees and costs excludes accrued interest receivable of $220.4 million and $217.1 million at June 30, 2025 and December 31, 2024, respectively, which is presented as a component of other assets on the consolidated balance sheets.
(2) Loans are presented net of deferred loan fees and costs totaling $36.6 million and $34.1 million at June 30, 2025 and December 31, 2024, respectively.
Pledged Loans
Loans with carrying values of $23.59 billion and $24.66 billion, respectively, were pledged as collateral for borrowings and capacity at June 30, 2025 and December 31, 2024 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, as well as certain specialized lending verticals including specialty finance, senior housing, and CIB. 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 generally 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.
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 our preference is to obtain some level of recourse from project sponsors. 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, and personal 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 table summarizes each loan portfolio class by risk grade and origination year as of June 30, 2025 and December 31, 2024 as required under CECL.
June 30, 2025
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20252024202320222021PriorAmortized Cost BasisConverted to Term LoansTotal
Commercial, financial and agricultural
Pass$834,972 $1,227,041 $964,959 $681,276 $1,057,852 $2,165,013 $7,657,600 $57,245 $14,645,958 
Special Mention2,298 421 10,473 17,003 14,044 7,138 116,485 — 167,862 
Substandard20,217 11,994 13,439 56,947 10,835 53,130 244,769 — 411,331 
Doubtful— 1,597 — — 5,911 934 4,697 — 13,139 
Loss— — — — — — 522 — 522 
Total commercial, financial and agricultural857,487 1,241,053 988,871 755,226 1,088,642 2,226,215 8,024,073 57,245 15,238,812 
Current YTD Period:
Gross charge-offs— 6,940 3,114 712 660 1,395 10,237 — 23,058 
Owner-occupied
Pass473,079 734,624 911,813 1,450,992 1,115,536 2,127,563 713,999 — 7,527,606 
Special Mention1,535 — 11,856 51,752 26,384 19,234 — — 110,761 
Substandard277 2,747 9,543 50,878 19,962 95,076 42,682 — 221,165 
Total owner-occupied474,891 737,371 933,212 1,553,622 1,161,882 2,241,873 756,681 — 7,859,532 
Current YTD Period:
Gross charge-offs— — 89 12 — 3,422 — — 3,523 
Total commercial and industrial1,332,378 1,978,424 1,922,083 2,308,848 2,250,524 4,468,088 8,780,754 57,245 23,098,344 
Current YTD Period:
Gross charge-offs$— $6,940 $3,203 $724 $660 $4,817 $10,237 $— $26,581 
Investment properties
Pass799,456 907,013 751,062 3,060,601 2,171,816 2,947,023 134,935 — 10,771,906 
Special Mention15,676 4,858 3,207 211,581 124,149 85,244 1,493 — 446,208 
Substandard2,644 1,334 1,671 7,332 41,797 15,698 — — 70,476 
Doubtful— — — — 20,925 — — — 20,925 
Loss— — — — — 5 — — 5 
Total investment properties817,776 913,205 755,940 3,279,514 2,358,687 3,047,970 136,428 — 11,309,520 
Current YTD Period:
Gross charge-offs— — — 168 18,545 — — — 18,713 
1-4 family properties
Pass97,514 117,365 62,246 85,023 77,029 66,492 20,868 — 526,537 
Special Mention572 — 750 796 — 240 — — 2,358 
Substandard— 966 365 3,306 251 3,050 45 — 7,983 
Total 1-4 family properties98,086 118,331 63,361 89,125 77,280 69,782 20,913 — 536,878 
Current YTD Period:
Gross charge-offs— — 109 — — 5 — — 114 
June 30, 2025
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20252024202320222021PriorAmortized Cost BasisConverted to Term LoansTotal
Land and development
Pass22,107 51,098 74,852 36,594 25,148 60,483 20,257 — 290,539 
Special Mention— — — — — 321 — — 321 
Substandard— — 1,649 — 47 736 — — 2,432 
Total land and development22,107 51,098 76,501 36,594 25,195 61,540 20,257 — 293,292 
Current YTD Period:
Gross charge-offs— — — — — — — — — 
Total commercial real estate937,969 1,082,634 895,802 3,405,233 2,461,162 3,179,292 177,598 — 12,139,690 
Current YTD Period:
Gross charge-offs$— $— $109 $168 $18,545 $5 $— $— $18,827 
Consumer mortgages
Pass227,904 449,791 637,413 634,620 903,501 2,332,870 12 — 5,186,111 
Substandard— 265 2,482 6,221 6,429 45,393 — — 60,790 
Loss— — — — — 39 — — 39 
Total consumer mortgages227,904 450,056 639,895 640,841 909,930 2,378,302 12 — 5,246,940 
Current YTD Period:
Gross charge-offs— — — 145 254 1,130 — — 1,529 
Home equity
Pass— — — — — — 1,422,617 409,065 1,831,682 
Substandard— — — — — — 12,256 8,242 20,498 
Loss— — — — — — 556 148 704 
Total home equity— — — — — — 1,435,429 417,455 1,852,884 
Current YTD Period:
Gross charge-offs— — — — — — 8 70 78 
Credit cards
Pass— — — — — — 192,877 — 192,877 
Substandard— — — — — — 618 — 618 
Loss— — — — — — 1,135 — 1,135 
Total credit cards— — — — — — 194,630 — 194,630 
Current YTD Period:
Gross charge-offs— — — — — — 3,520 — 3,520 
Other consumer loans
Pass158,173 106,179 68,968 98,904 119,085 146,086 300,045 — 997,440 
Substandard227 445 1,124 1,127 2,436 1,372 57 — 6,788 
Total other consumer loans158,400 106,624 70,092 100,031 121,521 147,458 300,102 — 1,004,228 
Current YTD Period:
Gross charge-offs284 1,375 2,185 1,455 2,192 2,723 811 — 11,025 
Total consumer386,304 556,680 709,987 740,872 1,031,451 2,525,760 1,930,173 417,455 8,298,682 
Current YTD Period:
Gross charge-offs$284 $1,375 $2,185 $1,600 $2,446 $3,853 $4,339 $70 $16,152 
Loans, net of deferred fees and costs$2,656,651 $3,617,738 $3,527,872 $6,454,953 $5,743,137 $10,173,140 $10,888,525 $474,700 $43,536,716 
Current YTD Period:
Gross charge-offs$284 $8,315 $5,497 $2,492 $21,651 $8,675 $14,576 $70 $61,560 
December 31, 2024
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20242023202220212020PriorAmortized Cost BasisConverted to Term LoansTotal
Commercial, financial and agricultural
Pass$1,200,861 $1,001,989 $739,134 $1,195,316 $629,109 $1,586,291 $7,372,228 $81,796 $13,806,724 
Special Mention1,555 20,255 17,775 18,403 2,464 36,817 158,968 — 256,237 
Substandard20,920 12,397 59,487 14,694 39,482 17,028 258,070 493 422,571 
Doubtful— — — 5,911 — 1,869 5,145 — 12,925 
Loss— — — — — — 535 — 535 
Total commercial, financial and agricultural1,223,336 1,034,641 816,396 1,234,324 671,055 1,642,005 7,794,946 82,289 14,498,992 
Current YTD Period:
Gross charge-offs7,696 16,499 3,786 8,787 997 4,413 53,736 — 95,914 
Owner-occupied
Pass691,899 981,593 1,468,946 1,220,421 872,744 1,621,387 619,519 — 7,476,509 
Special Mention1,099 2,466 65,733 5,397 34,244 12,621 — — 121,560 
Substandard2,568 5,838 34,147 20,698 49,766 65,147 55,904 — 234,068 
Total owner-occupied695,566 989,897 1,568,826 1,246,516 956,754 1,699,155 675,423 — 7,832,137 
Current YTD Period:
Gross charge-offs— 76 543 304 1,567 17,558 3,426 — 23,474 
Total commercial and industrial1,918,902 2,024,538 2,385,222 2,480,840 1,627,809 3,341,160 8,470,369 82,289 22,331,129 
Current YTD Period:
Gross charge-offs$7,696 $16,575 $4,329 $9,091 $2,564 $21,971 $57,162 $— $119,388 
Investment properties
Pass769,775 642,808 3,306,914 2,406,325 898,363 2,405,650 227,460 — 10,657,295 
Special Mention4,583 2,211 97,443 200,780 — 68,559 — — 373,576 
Substandard— 1,689 10,093 83,795 1,466 13,884 — — 110,927 
Doubtful— — — 39,401 — — — — 39,401 
Loss— — — — — 5 — — 5 
Total investment properties774,358 646,708 3,414,450 2,730,301 899,829 2,488,098 227,460 — 11,181,204 
Current YTD Period:
Gross charge-offs— — 527 4,752 — 4,602 — — 9,881 
1-4 family properties
Pass159,008 79,094 95,050 81,630 28,845 53,167 40,133 — 536,927 
Special Mention— — 1,060 663 169 1,300 — — 3,192 
Substandard919 840 1,618 233 287 1,857 45 — 5,799 
Total 1-4 family properties159,927 79,934 97,728 82,526 29,301 56,324 40,178 — 545,918 
Current YTD Period:
Gross charge-offs— 103 — — — 143 — — 246 
Land and development
Pass55,564 87,465 54,214 26,002 4,933 41,749 14,798 — 284,725 
Special Mention— 138 — 25 — 390 — — 553 
Substandard— 1,347 — — 153 719 — — 2,219 
Total land and development55,564 88,950 54,214 26,027 5,086 42,858 14,798 — 287,497 
Current YTD Period:
Gross charge-offs— — — — 35 22 — — 57 
Total commercial real estate989,849 815,592 3,566,392 2,838,854 934,216 2,587,280 282,436 — 12,014,619 
Current YTD Period:
Gross charge-offs$— $103 $527 $4,752 $35 $4,767 $— $— $10,184 
December 31, 2024
Term Loans Amortized Cost Basis by Origination YearRevolving Loans
(in thousands)20242023202220212020PriorAmortized Cost BasisConverted to Term LoansTotal
Consumer mortgages
Pass$457,176 $681,844 $670,652 $947,395 $1,119,610 $1,341,463 $25 $— $5,218,165 
Substandard190 1,872 5,590 7,117 17,918 37,895 — — 70,582 
Loss— — — — — 29 — — 29 
Total consumer mortgages457,366 683,716 676,242 954,512 1,137,528 1,379,387 25 — 5,288,776 
Current YTD Period:
Gross charge-offs— 11 — 3 30 122 — — 166 
Home equity
Pass— — — — — — 1,386,370 424,891 1,811,261 
Substandard— — — — — — 11,464 7,729 19,193 
Loss— — — — — — 554 279 833 
Total home equity— — — — — — 1,398,388 432,899 1,831,287 
Current YTD Period:
Gross charge-offs— — — — — — 230 106 336 
Credit cards
Pass— — — — — — 184,061 — 184,061 
Substandard— — — — — — 701 — 701 
Loss— — — — — — 1,109 — 1,109 
Total credit cards— — — — — — 185,871 — 185,871 
Current YTD Period:
Gross charge-offs— — — — — — 7,153 — 7,153 
Other consumer loans
Pass150,051 81,087 119,274 144,297 78,961 91,802 284,801 — 950,273 
Substandard310 1,046 1,298 2,692 1,132 524 59 — 7,061 
Loss— — — — — — 12 — 12 
Total other consumer loans150,361 82,133 120,572 146,989 80,093 92,326 284,872 — 957,346 
Current YTD Period:
Gross charge-offs576 3,740 4,840 7,601 2,140 2,509 2,315 — 23,721 
Total consumer607,727 765,849 796,814 1,101,501 1,217,621 1,471,713 1,869,156 432,899 8,263,280 
Current YTD Period:
Gross charge-offs$576 $3,751 $4,840 $7,604 $2,170 $2,631 $9,698 $106 $31,376 
Loans, net of deferred fees and costs$3,516,478 $3,605,979 $6,748,428 $6,421,195 $3,779,646 $7,400,153 $10,621,961 $515,188 $42,609,028 
Current YTD Period:
Gross charge-offs$8,272 $20,429 $9,696 $21,447 $4,769 $29,369 $66,860 $106 $160,948 
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 material changes in the extent to which collateral secures our collateral-dependent loans during the three and six months ended June 30, 2025.
Rollforward of Allowance for Loan Losses
The following tables detail the changes in the ALL by loan segment for the three and six months ended June 30, 2025 and 2024. During the three and six months ended June 30, 2025 and 2024, Synovus had no significant transfers to loans held for sale.
As Of and For the Three Months Ended June 30, 2025
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at March 31, 2025$205,903 $126,220 $146,084 $478,207 
Charge-offs(16,227)(9,402)(8,784)(34,413)
Recoveries12,742 1,068 2,302 16,112 
Provision for (reversal of) loan losses2,822 (147)2,250 4,925 
Ending balance at June 30, 2025$205,240 $117,739 $141,852 $464,831 
As Of and For the Three Months Ended June 30, 2024
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at March 31, 2024$213,482 $152,627 $126,552 $492,661 
Charge-offs(34,379)(263)(7,649)(42,291)
Recoveries4,589 462 2,755 7,806 
Provision for (reversal of) loan losses37,038 (11,146)1,033 26,925 
Ending balance at June 30, 2024$220,730 $141,680 $122,691 $485,101 
As Of and For the Six Months Ended June 30, 2025
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at December 31, 2024$210,525 $134,021 $142,299 $486,845 
Charge-offs(26,581)(18,827)(16,152)(61,560)
Recoveries15,712 1,119 5,062 21,893 
Provision for (reversal of) loan losses5,584 1,426 10,643 17,653 
Ending balance at June 30, 2025$205,240 $117,739 $141,852 $464,831 
As Of and For the Six Months Ended June 30, 2024
(in thousands)Commercial & IndustrialCommercial Real EstateConsumerTotal
Allowance for loan losses:
Beginning balance at December 31, 2023$218,970 $133,758 $126,657 $479,385 
Charge-offs(72,322)(3,974)(16,563)(92,859)
Recoveries7,877 1,229 4,912 14,018 
Provision for (reversal of) loan losses66,205 10,667 7,685 84,557 
Ending balance at June 30, 2024$220,730 $141,680 $122,691 $485,101 
The ALL of $464.8 million and the reserve for unfunded commitments of $49.0 million, which is recorded in other liabilities, comprise the total ACL of $513.8 million at June 30, 2025. The ACL decreased $25.5 million compared to the December 31, 2024 ACL of $539.3 million, which consisted of an ALL of $486.8 million and a reserve for unfunded commitments of $52.5 million. The ACL to loans coverage ratio was 1.18% at June 30, 2025, compared to 1.27% at December 31, 2024. When compared to the year-end 2024 ACL, the June 30, 2025 ACL was characterized by improved credit performance, partially offset by increased economic uncertainty. The Company includes qualitative adjustments, as appropriate, intended to capture the impact of uncertainties in the quantitative estimate. The June 30, 2025 and December 31, 2024 allowance included qualitative adjustments for higher risk portfolios such as C&I (which includes Leveraged Lending), CRE Office, and CRE Multi-family.
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 stronger growth than the baseline, 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 June 30, 2025, 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 4.9% over the forecasted period at June 30, 2025, compared to 4.6% at December 31, 2024.
Financial Difficulty Modifications
When borrowers are experiencing financial difficulty, Synovus may make certain loan modifications as part of its loss mitigation strategies to maximize expected payment. See "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 - Summary of Significant Accounting Policies" of Synovus' 2024 Form 10-K for additional information regarding accounting policies for FDMs.
The following tables present the amortized cost of FDM loans by loan portfolio class that were modified during the three and six months ended June 30, 2025 and 2024. Tables within this section exclude loans that were paid-off or are otherwise no longer in the loan portfolio as of the period end.
Three Months Ended June 30, 2025
(in thousands)Interest Rate ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial, financial and agricultural$676 $18,395 $21,469 $— $40,540 0.3 %
Owner-occupied574 — — — 574 — 
Total commercial and industrial1,250 18,395 21,469 — 41,114 0.2 
Investment properties— 141 — — 141 — 
1-4 family properties— 1,273 — — 1,273 0.2 
Total commercial real estate— 1,414 — — 1,414 — 
Consumer mortgages— — 3,910 — 3,910 0.1 
Other consumer loans172 988 19 18 1,197 0.1 
Total consumer172 988 3,929 18 5,107 0.1 
Total FDMs$1,422 $20,797 $25,398 $18 $47,635 0.1 %
Six Months Ended June 30, 2025
(in thousands)Interest Rate ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalPercentage of Total by Financing Class
Commercial, financial and agricultural$676 $19,306 $21,469 $— $41,451 0.3 %
Owner-occupied574 — — — 574 — 
Total commercial and industrial1,250 19,306 21,469 — 42,025 0.2 
Investment properties141 — — 141 — 
1-4 family properties— 1,273 — — 1,273 0.2 
Total commercial real estate— 1,414 — — 1,414 — 
Consumer mortgages— 8,541 — 8,541 0.2 
Other consumer loans211 1,479 19 30 1,739 0.2 
Total consumer211 1,479 8,560 30 10,280 0.1 
Total FDMs$1,461 $22,199 $30,029 $30 $53,719 0.1 %
Three Months Ended June 30, 2024
(in thousands)Interest Rate ReductionTerm ExtensionPayment DelayTotalPercentage of Total by Financing Class
Commercial, financial and agricultural$— $9,109 $— $9,109 0.1 %
Total commercial and industrial— 9,109 — 9,109 — 
Total commercial real estate— — — — — 
Other consumer loans58 211 — 269 — 
Total consumer58 211 — 269 — 
Total FDMs$58 $9,320 $— $9,378 — %
Six Months Ended June 30, 2024
(in thousands)Interest Rate ReductionTerm ExtensionPayment DelayTotalPercentage of Total by Financing Class
Commercial, financial and agricultural$11,638 $— $11,638 0.1 %
Owner-occupied— 193 — 193 — 
Total commercial and industrial— 11,831 — 11,831 0.1 
Investment properties— 2,236 — 2,236 — 
Total commercial real estate— 2,236 — 2,236 — 
Consumer mortgages123 — 210 333 — 
Other consumer loans179 463 — 642 0.1 
Total consumer302 463 210 975 — 
Total FDMs$302 $14,530 $210 $15,042 — %

The following tables present the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2025 and 2024.
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
(dollars in thousands)Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Payment Delay
(in months)		Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Payment Delay
(in months)
Commercial, financial and agricultural1.0 %8141.0 %814
Owner-occupied1.0 — — 1.0 — — 
Investment properties— 3— — 3— 
1-4 family properties— 3— — 3— 
Consumer mortgages— — 6— — 6
Other consumer loans2.6 108122.5 10712
Three Months Ended June 30, 2024Six Months Ended June 30, 2024
(dollars in thousands)Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Interest Rate ReductionWeighted Average Term Extension
(in months)		Weighted Average Payment Deferral
(in months)
Commercial, financial and agricultural— %20— %19— 
Owner-occupied— — — 60— 
Investment properties— — — 12— 
Consumer mortgages— — 2.3 — 7
Other consumer loans7.5 664.0 71— 
During the three months and six months ended June 30, 2025, there were no material FDMs that subsequently defaulted. During the three and six months ended June 30, 2024, commercial, financial and agricultural loans of $3.1 million and $74.7 million, respectively, defaulted that were previously modified in the prior 12 months by receiving a term extension. Defaults are defined as the earlier of the FDM being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments. As of June 30, 2025 and December 31, 2024, there were no commitments to lend a material amount of additional funds to any borrower whose loan was classified as a FDM.
Synovus monitors the performance of FDMs to understand the effectiveness of its modification efforts. The following tables provide a summary of current, accruing past due, and non-accrual loans on an amortized cost basis by loan portfolio class that have been modified during the 12 months prior to June 30, 2025 and June 30, 2024, respectively.
As of June 30, 2025
(in thousands)CurrentAccruing 30-89 Days Past DueNon-accrual Total
Commercial, financial and agricultural$41,253 $649 $2,080 $43,982 
Owner-occupied574 — — 574 
Total commercial and industrial41,827 649 2,080 44,556 
Investment properties30,110 — 32,782 62,892 
1-4 family properties1,273 — — 1,273 
Total commercial real estate31,383 — 32,782 64,165 
Consumer mortgages260 — 9,943 10,203 
Other consumer loans1,957 21 — 1,978 
Total consumer2,217 21 9,943 12,181 
Total FDMs$75,427 $670 $44,805 $120,902 
As of June 30, 2024
(in thousands)CurrentAccruing 30-89 Days Past DueNon-accrual Total
Commercial, financial and agricultural$40,022 $1,287 $4,487 $45,796 
Owner-occupied31,892 317 260 32,469 
Total commercial and industrial71,914 1,604 4,747 78,265 
Investment properties2,544 — — 2,544 
1-4 family properties33 — — 33 
Land and development1,100 — — 1,100 
Total commercial real estate3,677 — — 3,677 
Consumer mortgages542 1,553 2,095 
Other consumer loans854 174 332 1,360 
Total consumer1,396 174 1,885 3,455 
Total FDMs$76,987 $1,778 $6,632 $85,397