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17h ago

Pinnacle and Synovus Boards Approve $8.6 Billion Merger with Leadership Lineup Set

The merger is expected to generate $250 million in annual cost savings as it extends a unified Pinnacle brand into fast-growing Southeastern markets.

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Overview

  • Boards of Pinnacle and Synovus unanimously approved the all-stock $8.6 billion deal to form a $116 billion-asset regional bank.
  • Kevin Blair will serve as president and CEO of the merged bank while Terry Turner takes the role of chairman of a 15-member board.
  • The combined company will operate under the Pinnacle Financial Partners name, consolidating branches across Georgia, Tennessee and other Southeastern states.
  • Executives project the transaction will deliver $250 million in cost savings and boost operating earnings per share by about 21 percent in 2027.
  • Subject to regulatory and shareholder approvals, the deal is slated to close in Q1 2026 with headquarters relocating to Atlanta.