Columbus-based Synovus completes $8.6B merger with Pinnacle

ATLANTA (WTVM) - Columbus‑based Synovus Financial Corp. has officially completed its $8.6 billion merger with Pinnacle Financial Partners, creating a single bank holding company now operating under the Pinnacle name. The final steps were finalized by Friday.

With the merger of the bank holding companies complete, Synovus Bank has now been fully integrated into Pinnacle Bank, which also became a member of the Federal Reserve System as part of the transition.

The combined bank will continue using the Pinnacle and Synovus banners through 2026 before consolidating under the Pinnacle name in early 2027. The firm says customer service will remain uninterrupted throughout the transition.

Officials said the newly combined firm is now one of the nation’s largest regional banks, with an estimated $117.2 billion in assets, $95.7 billion in deposits, and $80.4 billion in loans, based on Sept. 30, 2025 financials. The company will operate more than 400 locations across nine Southeastern and Atlantic-coast states. The holding company will be headquartered in Atlanta, while the combined bank will be based in Nashville.

Last summer, leaders noted that the combined company will operate with “a sustained commitment to associates and local communities” in Columbus.

Pinnacle did not previously have a presence in the greater Columbus area.

“We are marrying the best of both our companies together so we can continue to win for our team members, clients and shareholders,” said board chair Terry Turner. Turner, a Pinnacle co‑founder, will continue supporting the leadership team as the combined company moves into its next phase. The post‑merger board includes seven directors from Pinnacle and seven from Synovus, with fellow Pinnacle co‑founder Rob McCabe serving as chief banking officer.

Under the merger agreement, Synovus shareholders received 0.5237 shares of new Pinnacle stock for each Synovus share, while Pinnacle shareholders received an equal number of shares in the new combined company. The stock began trading under the ticker PNFP on Friday, while legacy Pinnacle shares were delisted from Nasdaq and Synovus shares from the NYSE.

The merger was first announced July 24, 2025, and gained shareholder approval in November, followed by regulatory approval from federal banking agencies on Nov. 25 and 26.