In a major step toward reshaping the banking landscape in the Southeast, Pinnacle Financial Partners and Synovus Financial Corp. are joining forces in a landmark $8.6 billion all-stock merger. This strategic move, based on their July 21, 2025 closing share prices, marks the beginning of what will be the Southeast’s most dynamic and high-performing regional bank. With a shared focus on growth and deep roots in some of the region’s fastest-growing markets, the two institutions are coming together to create something stronger than the sum of their parts a customer-first bank built for the future.
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The newly combined company will move forward under the Pinnacle Financial Partners and Pinnacle Bank brands, blending two institutions that share a deep commitment to growth, innovation, and putting communities first. At the helm will be Kevin Blair, currently Chairman, President, and CEO of Synovus, who will step into the role of President and CEO. Terry Turner, Pinnacle’s current President and CEO, will serve as Chairman of the Board. Together, their leadership represents a powerful partnership rooted in experience and a shared vision for the future of regional banking.
Under the agreement approved unanimously by both companies’ boards, shareholders of Synovus and Pinnacle will receive shares in a new Pinnacle parent company, based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share. This equates to a Synovus share value of $61.18, offering roughly a 10% premium and establishing ownership at about 48.5% for Synovus shareholders and 51.5% for Pinnacle shareholders.
Financially, the deal is forecasted to be highly accretive, delivering an estimated 21% boost to Pinnacle’s operating earnings per share by 2027, and a tangible book value earnback in just 2.6 years. The structure of the transaction is also tax-free to shareholders of both firms.
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Terry Turner expressed confidence in the merger, noting that Pinnacle’s entrepreneurial spirit, paired with Synovus’ market strength, will result in a customer-first approach that builds on the legacy of growth and loyalty. “This combination is about extending our reach while maintaining the client-centric focus that defines us,” Turner said. “We’re combining not just our companies, but our cultures of excellence.”
Kevin Blair expressed excitement about uniting two strong banks with a shared vision. He called the merger a powerful step toward greater impact and long-term growth.
“This isn’t just about scale it’s about multiplying our impact,” he remarked. “Our shared performance history and commitment to service uniquely position us to outperform even further together.”
Strategically, the merger creates a banking powerhouse anchored in Atlanta and Nashville—the two financial capitals of the South. The new institution will have the largest banking presence in Georgia and Tennessee, with strong positioning across other Southeastern growth hubs. These markets are projected to see household growth nearly 70% above the national average in the next five years, offering significant opportunity for expansion and customer acquisition.
Both Pinnacle and Synovus have earned reputations as top-tier employers and trusted community banks. They rank #1 and #2 respectively on Glassdoor for associate satisfaction among peers, and have been recognized by publications like Forbes, Fortune, and Great Place to Work. These accolades reflect a commitment to workplace excellence that translates into top customer service recognized by independent ratings from J.D. Power and Coalition Greenwich, who awarded the banks a combined 45 “Best Bank” honors in 2025 alone.
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With complete alignment on executive leadership, board composition, branding, and operational models, the two banks are well-positioned to integrate quickly and effectively. They’ve also agreed on compensation, community engagement strategies, and a shared vision that maintains local leadership decision-making power ensuring that client relationships remain strong and responsive.
As the banks prepare to unite into a $100+ billion asset institution, they will draw on deep expertise in enterprise risk, technology, compliance, and operations, setting the stage for continued growth and outperformance in the rapidly evolving financial landscape.
This merger not only marks a milestone for regional banking in the Southeast—it signals a commitment to delivering even greater value to shareholders, clients, and communities alike.
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