Pinnacle Financial Partners and Synovus Financial Corp. Have rear to Landmark All-Stock Merger Agreement Valued at $ 8.6 Billion, Setting the Stage for a Regional Powerhouse in the Southeast Banking sector.
The Deal, Unanimously Approved by Boards, is expectted to close in the first quarter of 2026 pending regulatory and shareholder approvals.
The Combined Organization, Which Will Operate Under the Pinnacle Financial Partners and Pinnacle Bank Names, Will Become The Largest Bank Holding Company in Georgia and the Largest Bank in Tennessee. The New Entity’s Holding Company Will Be Headquartered in Atlanta, While Pinnacle Bank Will Retain ITS Nashville Headquarters, Extending ITS Branch Network To More than 400 Offices Across Nine states.
Leadership Rolles Are Carefully Planned for Continuity and Growth: Kevin Blair, Chairman, CEO, and President of Synovus, Will Lead As President and CEO, While Terry Turner, Pinnacle’s Current President and Ceo, Will Become Chairman of the Board. The Merger’s Ownership Split Grants Pinnacle Shareholders Approximately 51.5% of the combined company, with synovus Shareholders Holding Around 48.5%.
The Branch Expansion More than Double Pinnacle’s Geographic Footprint, Top-5 Market Share In 10 Booming Southeastern Metropolitan Areas. The Merger Brigs The Combined Asset Base Close To $ 116 Billion, Positioning The Bank to AggressIly Competition With Larger National Rivals.
Financial Analysts Project Substantial Synergy Benefits From The Merger, Estimating $ 250 Million in Cost Savings. The Deal Is Forecast To Be About 21% Accretive to Pinnacle’s Estimated Operating Earnings Per Share In 2027, With A Tangible Book Value Per Share Earnback PERIOD OF Just 2.6 Years. The Transaction is Structured As A Tax-Free Exchange for Shareholders, Using A Fixed Exchange Ratio of 0.5237 Synovus Shares Per Pinnacle Share.
Management from Banks Emphasizes their Shared Values, Strong Workplace Cultures, and Commitment to Customer Service and Community Investment. The Merger Aims to Deliver Broader Services, Greater Market Reach, and Operational Efficiencies – Reflecting The Growing Trend of Regional Bank Consolidation in the Evolving Financial Landscape.
With This Strategic Alignment, The New Pinnacle-Synovus entity is positive to Drive Innovation, Enhance Client Experience, and Accelerate Growth Across The Southeast.
