Shareholders of Synovus Financial Corp. and Pinnacle Financial Partners voted in favor of a merger at separate meetings held on November 6, 2025. At Synovus, 91.5 percent of votes cast were in favor, representing 69.4 percent of the 1.18 billion shares entitled to vote as of the September 26 record date. Pinnacle’s preliminary results were similar, with 92.2 percent of votes cast supporting the deal, representing 73.2 percent of the 1.04 billion shares entitled to vote. The approvals give the two banks a clear path to combine their operations and create a larger regional banking platform.
The transaction will bring together Synovus’s roughly $60 billion in assets and Pinnacle’s $56 billion, creating a combined balance sheet of about $116 billion. The new entity will cross the $100 billion asset threshold, placing it under stricter regulatory oversight and requiring robust governance and risk management. The merger is designed to build the “highest‑performing regional bank focused on the fastest‑growth markets in the Southeast,” according to the companies’ leadership.
Management highlighted the strategic benefits of the deal. Kevin Blair, Synovus’s CEO, said the combination would “create the fastest‑growing, most profitable and dynamic regional bank in the country.” Terry Turner, Pinnacle’s CEO, added that the merger would “prioritize client experience and inspire associates.” The deal is expected to be approximately 21 percent accretive to Pinnacle’s operating earnings per share in 2027, with a tangible book‑value‑per‑share earnback period of 2.6 years, underscoring the financial upside for shareholders.
Investors reacted cautiously to the approval, citing valuation concerns and the integration risks that accompany a $100 billion‑plus balance sheet. While the merger offers significant scale and technology synergies, analysts noted that the combined entity will face heightened regulatory scrutiny and must execute a complex integration plan to realize projected cost savings.
The transaction reflects a broader trend of consolidation in the regional banking sector, driven by competition from national banks and fintech firms and the need for scale to invest in technology. Both banks are known for strong workplace cultures and high associate satisfaction, which should help preserve employee morale during the integration. The merger also provides access to advanced platforms and AI tools, positioning the new bank to meet evolving customer expectations.
The combined entity will operate under the Pinnacle Financial Partners and Pinnacle Bank name and brand. Kevin Blair will serve as President and CEO of the new company, while Terry Turner will become Chairman of the Board. The merger is expected to close in the first quarter of 2026, pending regulatory approvals and customary closing conditions.
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