MergerMay 6, 2026, 06:08 AM
Pinnacle Financial Q1 Net Income $150M; Synovus Merger Closed
AI Summary
Pinnacle Financial Partners reported its Q1 2026 results, significantly impacted by the merger with Synovus Financial Corp. which closed on January 1, 2026. The company's net income increased to $150 million from $140 million year-over-year, but diluted earnings per share decreased to $0.89 from $1.77 due to the increased share count from the acquisition. Total assets and deposits more than doubled, reflecting the combined entity, while the quarter also included $275 million in merger-related expenses.
Key Highlights
- Merger with Synovus Financial Corp. closed on January 1, 2026.
- Q1 2026 net income was $150 million, up from $140 million year-over-year.
- Diluted EPS decreased to $0.89 in Q1 2026 from $1.77 in Q1 2025.
- Total assets grew to $122.77 billion from $57.71 billion (Dec 31, 2025).
- Total deposits increased to $100.10 billion from $47.40 billion (Dec 31, 2025).
- Net interest income rose to $933 million from $365 million year-over-year.
- Q1 2026 included $275 million in merger-related expenses.
- Preliminary goodwill of $1.63 billion recorded from the merger.