The Pinnacle Bank and Synovus Bank merger represents an $8.6 billion all-stock deal that companies announced right now to create the Southeast’s fastest-growing regional banking institution. This Pinnacle Financial Partners merger with Synovus actually delivers a substantial 21% earnings per share boost by 2027. The Southeastern bank merger combines two high-performing institutions with approximately $115.8 billion in combined assets, and both boards of directors have unanimously approved the deal.
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Driving Growth with Pinnacle Financial Partners Merger and Synovus Merger
Transaction Details and Financial Impact
The Pinnacle Bank and Synovus Bank merger establishes a fixed exchange ratio of 0.5237 Synovus shares per each Pinnacle share, which actually values Synovus at $61.18 per share. This represents approximately a 10% premium and creates what will be a tax-free transaction for shareholders of both companies. Analysts expect the Pinnacle Financial Partners merger to deliver around 21% accretion to operating EPS in 2027, along with a rapid 2.6-year earnback period.
Following completion of the deal, Synovus shareholders will own about 48.5% and Pinnacle shareholders will control approximately 51.5% of the combined entity. The Synovus merger actually creates the largest bank holding company in Georgia and also becomes Tennessee’s largest bank.
Leadership Structure
Kevin Blair will serve as President and Chief Executive Officer of the combined company, while Terry Turner becomes Chairman of the Board of Directors. The Southeastern bank merger brings together an experienced leadership team with more than 120 years of combined financial services experience.
Turner stated:
“Over the last 25 years, we have attracted extraordinary talent to a bank that closely partners with its clients, developing ‘raving fans’ and delivering industry-leading growth. We are pleased to join forces with Synovus in a combination that prioritizes client experience and inspires associates. By combining Pinnacle’s operating model, which is anchored in a disciplined entrepreneurial spirit, with Synovus’ talented team and strong presence in attractive and fast-growing Southeastern markets, we will extend our legacy of building share in the most attractive markets nationally.”
Blair had this to say:
“We are two high-performing institutions with one powerful future. Our belief in the success of this merger is grounded in a decade of strong results and proven execution from both companies, each delivering top-tier earnings and total shareholder returns.”
Market Positioning and Growth
The Pinnacle Bank and Synovus Bank merger positions the combined company in high-growth Southeastern markets with a deposit-weighted projected household growth of 4.6% from 2025 to 2030. This Pinnacle Financial Partners merger actually creates top-5 market positions in 10 of the top-15 southeastern metropolitan statistical areas, with significant room to grow and capture additional share.
Both institutions rank highly in customer satisfaction right now, with Synovus and Pinnacle holding the #1 and #2 positions respectively in Associate Satisfaction on Glassdoor among peers. The companies collectively received a total of 45 Coalition Greenwich Best Bank Awards in 2025, which demonstrates their commitment to excellence.
Timeline and Next Steps
The companies expect the Synovus merger to close in the first quarter of 2026, subject to required regulatory approvals and shareholder votes from both companies. The southeastern bank merger will trade on the New York Stock Exchange under the ticker symbol PNFP, while the combined entity maintains strong community commitments across Columbus, Nashville, Atlanta and throughout the Southeast.
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The combined entity will operate under the Pinnacle Financial Partners and Pinnacle Bank name and brand, leveraging both companies’ proven track records in delivering shareholder value and community banking excellence. At the time of writing, the companies have already begun integration planning to ensure a smooth transition once they satisfy all conditions.