MergerMay 12, 2026, 08:42 AM
Pinnacle Financial Partners Completes Merger with Synovus for $7.58B
AI Summary
Pinnacle Financial Partners, Inc. announced the completion of its merger with Synovus Financial Corp. and Legacy Pinnacle on January 1, 2026, forming a new combined entity under the Pinnacle Financial Partners name. The company filed unaudited pro forma condensed combined financial information, reflecting the merger as if it occurred on December 31, 2025, for the balance sheet and January 1, 2025, for the income statement. The pro forma financials show combined total assets of $120.33 billion and net income attributable to shareholders of $1.08 billion for the year ended December 31, 2025.
Key Highlights
- Merger of Synovus Financial Corp. and Legacy Pinnacle into Pinnacle Financial Partners, Inc. completed on January 1, 2026.
- Synovus common shareholders received 0.5237 shares of Newco common stock for each Synovus share.
- Total pro forma purchase price consideration for the merger was estimated at $7.58 billion.
- Pro forma combined total assets as of December 31, 2025, were $120.33 billion.
- Pro forma combined net income attributable to shareholders for the year ended December 31, 2025, was $1.08 billion.
- Pro forma basic net income per common share for the year ended December 31, 2025, was $6.80.
- Preliminary goodwill recognized in the merger was $1.63 billion.
- An estimated core deposit intangible asset of $848.0 million was recorded.
Price Impact
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