Quarterly ResultAug 4, 2026, 02:56 PM
Pinnacle Financial Q2 Net Income $328M; Merger Drives Asset Growth
AI Summary
Pinnacle Financial Partners reported its second-quarter and six-month financial results, significantly impacted by its merger with Synovus Financial Corp. completed on January 1, 2026. Net income for Q2 rose to $328 million from $159 million year-over-year, while six-month diluted EPS decreased to $2.96 from $3.77, reflecting increased share count post-merger. The merger dramatically expanded the company's balance sheet, with total assets more than doubling to $129.06 billion and total deposits reaching $100.90 billion.
Key Highlights
- Pinnacle Financial completed merger with Synovus on January 1, 2026.
- Q2 Net Income was $328M, up from $159M year-over-year.
- Six-month Diluted EPS was $2.96, down from $3.77 year-over-year.
- Total Assets grew to $129.06B from $57.71B as of December 31, 2025.
- Total Deposits reached $100.90B from $47.40B as of December 31, 2025.
- Merger-related expenses totaled $326M for the six months ended June 30, 2026.
- Initial Allowance for Credit Losses of $478M recognized for acquired Synovus loans.
- Goodwill increased to $3.48B from $1.85B due to the merger.
Price Impact
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