In a move poised to reshape the southeastern U.S. banking landscape, Pinnacle Financial Partners and Synovus have announced a strategic all-stock merger valued at $8.6 billion. This transformative partnership aims to establish the fastest-growing and highest-return regional bank in the Southeast, under the combined brand of Pinnacle Bank.
The historic deal, unanimously approved by both boards, merges two of the most prominent banking institutions in the region. Once finalized, Pinnacle Financial Partners and Synovus Bank will operate under the Pinnacle name, with Synovus shareholders owning 48.5% and Pinnacle shareholders holding 51.5% of the new parent company.
Leadership Realignment and Strategic Synergy
In a significant leadership reshuffle, Kevin Blair, current CEO of Synovus, will take over as President and CEO of the new entity. Terry Turner, Pinnacle’s CEO, will serve as Chairman of the Board. The integration is expected to be smooth, thanks to a shared strategic vision and aligned corporate cultures.
The new leadership team brings more than 120 years of combined financial services experience, positioning the merged institution to compete aggressively with national players. “By joining forces, we’re not just combining – we’re multiplying our impact,” said Blair. Turner echoed the sentiment, emphasizing the potential for accelerating growth and enhancing customer experience.
Financial Highlights and Growth Potential
The Pinnacle Financial Partners merger is projected to deliver over 20% earnings per share (EPS) accretion by 2027, with a tangible book value earnback in just 2.6 years. This makes it one of the most financially compelling deals in recent regional banking history.
The combined entity will boast over $115 billion in total assets and be headquartered in Atlanta, with key operational hubs in Nashville and Columbus, GA. As the largest bank in Tennessee and largest bank holding company in Georgia, the merger provides a dominant presence in 10 of the top 15 Southeastern markets.
Pinnacle and Synovus: Cultural and Operational Fit
Both Pinnacle Bank and Synovus have long been recognized as top-tier employers. Ranked #1 and #2, respectively, in Glassdoor’s associate satisfaction ratings among peers, they are known for fostering strong workplace cultures. This alignment promises minimal internal disruption and high operational efficiency post-merger.
Their shared focus on localized decision-making and entrepreneurial spirit makes them uniquely suited to thrive in fast-growing metropolitan areas like Charlotte, Atlanta, Nashville, and Tampa.
A Merger with Community Impact
With a strong emphasis on community development, the merger includes continued commitments to local investments, philanthropic initiatives, and small business lending. The merged bank will retain significant operations and employment footprints in key cities, ensuring that Pinnacle and Synovus’ local roots remain intact.
As part of the consolidation, the new entity will also maintain active community development programs supporting affordable housing and economic empowerment throughout the Southeast.
Timeline and Regulatory Approval
The deal is expected to close in Q1 2026, pending regulatory and shareholder approvals. The new entity will be listed on the NYSE under the ticker symbol PNFP, continuing Pinnacle’s legacy.
While mergers of this scale typically invite scrutiny, both institutions have assured stakeholders that their alignment in culture, leadership, and business strategy will allow for a swift and effective transition.
Why This Matters
This Synovus merger marks one of the most significant consolidations in the U.S. regional banking sector in 2025. For clients, it means enhanced services, broader geographic reach, and stronger financial backing. For shareholders, it signals long-term value creation.
Moreover, the Pinnacle Financial Partners merger is a clear indication of how regional banks are adapting to compete in a rapidly evolving financial ecosystem dominated by fintech and mega-banks.
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