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Builds Fastest-Growing, Highest-Return Regional Bank
Positioned to Remain Employer of Choice, with Industry-Leading Customer Service and Deep Roots in Local Communities
Complete Alignment on Strategy, Leadership, Brand and Operating Model to Continue Long Track Record of Profitable Growth
Compelling Financial Profile with 20+% EPS Accretion and Earnback Period of 2.6 Years
Companies to Host Joint Conference Call Today at 5:30 p.m. ET
Pinnacle Financial Partners (Nasdaq/NGS: PNFP) and Synovus Financial Corp. (NYSE:SNV) today announced that they have entered into a definitive agreement to combine in an all-stock transaction valued at $8.6 billion based on the unaffected closing prices of the two companies as of July 21, 2025. This transaction creates the highest-performing regional bank focused on the fastest-growth markets in the Southeast.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250724469186/en/
The combined company, which will operate under the Pinnacle Financial Partners and Pinnacle Bank name and brand, will be led by a highly experienced team with a shared growth mindset. Kevin Blair, Chairman, Chief Executive Officer and President of Synovus, will serve as President and Chief Executive Officer of the combined company, and Terry Turner, President and Chief Executive Officer of Pinnacle, will serve as Chairman of the Board of Directors of the combined company.
Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, the shares of Synovus and Pinnacle shareholders will be converted into shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share. This exchange ratio represents a Synovus per share value of $61.18, a transaction value of $8.6 billion and an approximate 10% premium to Synovus on an unaffected basis.1 Following the close of the transaction, Synovus shareholders will own approximately 48.5% and Pinnacle shareholders will own approximately 51.5% of the combined company.
The transaction is expected to be approximately 21% accretive to Pinnacle's estimated operating EPS in 2027,2 with a rapid tangible book value per share earnback period of 2.6 years. The transaction is expected to be tax-free to shareholders of both companies.
