Fri Jul 25 01:10:00 UTC 2025: **Summary:**
Pinnacle Financial Partners and Synovus Financial Corp. have announced a definitive agreement to merge in an all-stock transaction valued at $8.6 billion. The combined company will operate under the Pinnacle Financial Partners name and be led by executives from both companies. The merger is expected to be 21% accretive to Pinnacle’s EPS in 2027 and have a tangible book value per share earnback period of 2.6 years. Both companies emphasized strategic alignment and a commitment to continued growth and community involvement.
**News Article:**
**Pinnacle Financial Partners and Synovus Financial Corp. Announce $8.6 Billion Merger**
**Nashville, TN and Columbus, GA – July 24, 2025** – In a move set to reshape the Southeast’s financial landscape, Pinnacle Financial Partners (Nasdaq/NGS: PNFP) and Synovus Financial Corp. (NYSE: SNV) have announced a definitive agreement to merge in an all-stock transaction valued at $8.6 billion. The deal, based on the companies’ unaffected closing prices as of July 21, 2025, will create a regional banking powerhouse focused on high-growth markets.
The combined entity will operate under the Pinnacle Financial Partners brand. Synovus CEO Kevin Blair will become President and CEO of the merged company, while Pinnacle CEO Terry Turner will serve as Chairman of the Board.
Under the agreement, Synovus shareholders will receive 0.5237 shares of a new Pinnacle parent company for each Synovus share, representing a value of $61.18 per share and a 10% premium. Post-merger, Synovus shareholders will hold approximately 48.5% and Pinnacle shareholders 51.5% of the combined company.
Executives from both companies highlighted the strategic alignment and shared growth mindset behind the deal. “We are two high-performing institutions with one powerful future,” said Blair. Turner echoed this sentiment, stating, “We are pleased to join forces with Synovus in a combination that prioritizes client experience and inspires associates.”
The merger is projected to be 21% accretive to Pinnacle’s estimated operating EPS in 2027, with a rapid 2.6-year tangible book value per share earnback period. Both companies also emphasized their commitment to maintaining strong ties to their local communities, including Columbus, Georgia, and Nashville, Tennessee.
The transaction, unanimously approved by both Boards of Directors, is expected to close in the first quarter of 2026, pending regulatory and shareholder approvals. Pinnacle and Synovus hosted a joint conference call today at 5:30 p.m. ET to discuss the merger.
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