Synovus Financial and Pinnacle Financial Partners have agreed to merge in an all-stock deal worth $8.6 billion, forming one of the largest regional banks in the southeastern United States. The combined entity will have over $115 billion in assets.
Under the terms of the agreement, Synovus shareholders will receive stock valued at $61.18 apiece, representing a 10% premium to Monday’s closing price. In extended trading, Synovus shares fell 8.3%, while Pinnacle shares dropped 6%. The merger is expected to close in the first quarter of 2026, subject to regulatory and shareholder approvals.
The deal comes as interest in bank mergers has grown under a more favorable regulatory environment. Regulators, including those under the Trump administration, have taken a more lenient stance on dealmaking, which may lead to an increase in mergers and acquisitions in the banking sector.
As part of the deal, Synovus CEO Kevin Blair will lead the new company as CEO and president, while Pinnacle CEO Terry Turner will serve as chairman. The combined entity will operate under the Pinnacle Financial Partners and Pinnacle Bank name and brand.
Source: https://www.reuters.com/legal/transactional/pinnacle-financial-partners-synovus-financial-merge-86-billion-deal-2025-07-24