Synovus Financial Corp., a Columbus-based bank, has confirmed its merger with Pinnacle Financial Partners of Nashville, Tennessee. The deal is worth $8.6 billion and will create the largest bank in Tennessee and the largest bank holding company in Georgia.
Under the new structure, Synovus will operate under the name of Pinnacle Financial Partners and Pinnacle Bank. Kevin Blair, the current chairman, CEO, and president of Synovus, will serve as president and CEO of the combined company, while Terry Turner will become chairman.
The merger is expected to close in the first quarter of 2026. At that time, Synovus shareholders will own approximately 48.5% of the combined company, with Pinnacle shareholders owning around 51.5%.
The impact of the merger on employees and local communities remains unclear. However, a statement from Synovus’s external communications director suggests that the combined company will prioritize philanthropic giving and community initiatives in Columbus, Georgia.
One aspect affecting the city’s baseball stadium is uncertain: Synovus Park. A $50 million renovation completed this year upgraded the facility for the Atlanta Braves Class AA minor league team, which relocated from Mississippi. The stadium’s name change to the Columbus Clingstones has not been addressed.
Source: https://www.ledger-enquirer.com/news/business/article311352170.html