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Pinnacle Financial Completes Merger with Synovus, Assets Reach $117.2B
Pinnacle Financial Partners announced the completion of the merger of Pinnacle Financial Partners and Synovus Financial Corp. with the combined firm now operating as one bank holding company under the name Pinnacle Financial Partners. Following the bank holding company merger, Pinnacle Bank became a member bank of the Federal Reserve System and Synovus Bank merged into Pinnacle Bank, with Pinnacle Bank as the surviving bank in the bank merger. The combined Pinnacle Bank will operate under both the Pinnacle and Synovus brands, consolidating under the Pinnacle brand in early 2027. The newly combined bank holding company had an estimated pro forma combined $117.2B in assets, deposits of $95.7B and loans of $80.4B, all as of Sept. 30. The firm now operates more than 400 locations in nine states throughout the Southeast and Atlantic coast, along with multiple banking specialties with nationwide scope. The headquarters of the combined holding company will be in Atlanta, Georgia, and the headquarters of the combined bank will be in Nashville, Tennessee. Integration teams have been working closely together to build the blueprint for Pinnacle's future as a combined company. While bankers continue to serve clients and recruit top talent with little to no disruption, others will work behind the scenes to execute as seamless an integration effort as possible. Systems and brand conversions are expected in early 2027. Throughout, the primary goal will be to enhance the client experience.
Pinnacle Financial Partners Acquires Synovus, Deal Expected to Close Soon
Pinnacle Financial Partners (PNFP) is acquiring Synovus (SNV) in a deal expected to be completed soon, pending final closing conditions.
Pinnacle and Synovus Obtain Federal Regulatory Approval for Merger
The proposed combination of Pinnacle Financial Partners (PNFP) and Synovus Financial Corp. (SNV) has received regulatory approval from the Board of Governors of the Federal Reserve System. With shareholders of each company approving the merger on Nov. 6, 2025, Pinnacle and Synovus anticipate completing the merger Jan. 1, 2026, subject to satisfaction of the remaining customary closing conditions.
Pinnacle Financial and Synovus Shareholders Approve Proposed Merger
At separate meetings held on Thursday, shareholders of Pinnacle Financial Partners (PNFP) and Synovus Financial Corp. (SNV) approved the proposed merger of the two firms. At the Synovus special meeting, preliminary results showed approximately 91.5% of the votes cast were in favor of the combination, representing approximately 69.4% of the total number of outstanding shares entitled to vote as of Sept. 26, 2025, the record date for the Synovus special meeting. In preliminary results from the Pinnacle special meeting, approximately 92.2% of the votes cast were in favor of the combination, representing approximately 73.2% of the total number of outstanding shares entitled to vote as of Sept. 26, 2025, the record date for the Pinnacle special meeting. The next steps to merger close are regulatory approvals and satisfaction of other customary closing conditions set forth in the merger agreement. While that is pending, the firms' integration management teams will continue their work building the blueprint for bringing the companies together, including further decisions on organizational charts, benefit plans, technology systems and more. The merger is expected to close in the first quarter of 2026.
Synovus Announces Q3 Earnings Per Share of $1.46, Exceeding Consensus Estimate of $1.35
Reports Q3 revenue $615.4M, consensus $603.2M. Reports Q3 net interest margin 3.41% vs. 3.22% y/y. "Synovus delivered solid third-quarter results, driven by continued net interest margin expansion, strong non-interest revenue growth and favorable credit trends," said Synovus Chairman, CEO and President Kevin Blair. "While some may have anticipated that the merger announcement might distract from our near-term performance, our results this quarter tell a different story. We delivered continued strength in loan production, sustained momentum in fee generation and grew our team member base this quarter - all clear indicators of our focus, discipline and resilience. We feel highly confident that this momentum should continue in the final quarter of the year as we make great progress toward closing on our merger with Pinnacle Financial Partners in first quarter 2026."
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