Core Insights - Synovus Financial Corp. and Pinnacle Financial Partners are progressing towards their merger after receiving Federal Reserve approval for the $8.6 billion all-stock transaction announced on July 24, 2025 [1][9] - The merger is expected to close on January 1, 2026, pending standard closing conditions, with Synovus branches continuing to operate under their brand until full integration [2][6] Merger Details - The merger structure remains consistent with initial plans, aiming to enhance the firms' presence in high-growth Southeastern markets [3] - Shareholders will receive shares of a new Pinnacle parent company based on a fixed exchange ratio of 0.5237 Synovus shares per Pinnacle share [3] - The combined entity will operate under the Pinnacle brand, headquartered in Atlanta, GA, with Pinnacle Bank based in Nashville, TN [4] Strategic Rationale - The merger combines Pinnacle's relationship-driven model with Synovus' extensive branch network, creating a larger platform for organic growth [5] - The combined company is projected to hold approximately $116 billion in assets, positioning it among the largest regional banking franchises in the U.S. Southeast [8][9] - The merger is expected to drive significant financial benefits, including approximately 21% operating EPS accretion and a tangible book value earn-back period of 2.6 years [10] Integration Planning - Integration management teams are preparing for Day One operations, focusing on organizational structures, technology, and market continuity [6] - Full system and brand conversions are scheduled for the first half of 2027, with no material changes expected in daily banking activities until then [6] Market Context - Synovus aims to become part of the fastest-growing regional bank in the Southeast, with a deposit-weighted household growth forecast of 4.6% from 2025 to 2030, significantly above the national average [7] - Synovus shares have gained 1.3% over the past six months, contrasting with a 0.1% decline in the industry [11]

Core Viewpoint - The merger between Pinnacle Financial Partners and Synovus Financial Corp has received regulatory approval and is expected to close on January 1, 2026, following shareholder approval on November 6, 2025 [1][15]. Company Overview - Pinnacle Financial Partners has approximately $56 billion in assets as of September 30, 2025, and is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA according to 2025 FDIC deposit data [5][6]. - Synovus Financial Corp has around $60 billion in assets and operates 244 branches across five states, providing a full suite of banking services [7]. Merger Details - The combined entity will have total assets of $116 billion, with headquarters in Atlanta, GA, and Pinnacle Bank based in Nashville, TN [4]. - Integration teams are actively working on plans for operational continuity and brand integration, with full system conversions expected in the first half of 2027 [3]. Leadership and Strategic Goals - Kevin Blair, CEO of Synovus, will serve as the president and CEO of the combined company, while Terry Turner, CEO of Pinnacle, will be the chairman of the board post-merger [2]. - The merger aims to leverage the strengths of both organizations to accelerate growth and enhance service delivery to clients and communities [2][4].

The Federal Reserve Board on Tuesday announced its approval of the application by Steel Newco, Inc., of Peachtree Corners, Georgia, to become a bank holding company by merging with Synovus Financial Corporation, of Columbus, Georgia, and Pinnacle Financial Partners, of Nashville, Tennessee. As a result, Steel Newco will indirectly acquire Synovus Bank, of Columbus, Georgia, and Pinnacle Bank, of Nashville, Tennessee. In addition, the Board gave its approval for Pinnacle Bank to merge with Synovus Bank, with ...

Core Insights - Pinnacle Financial Partners has been recognized as the No. 4 Best Bank to Work For in the U.S. for 2025, improving from No. 5 in 2024 [1][2] - The bank is the largest in its category, with $56 billion in assets, and has consistently ranked No. 1 or No. 2 among banks with over $10 billion in assets since the rankings began [2][5] - Pinnacle has received multiple workplace awards in 2025, highlighting its commitment to employee satisfaction and corporate culture [3][11] Company Performance - Pinnacle Financial Partners operates with approximately $56 billion in assets as of September 30, 2025, making it the second-largest bank holding company headquartered in Tennessee [6] - The firm has maintained a strong presence in various urban markets across the Southeast and is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA based on 2025 deposit data from the FDIC [5][6] Awards and Recognition - Pinnacle has been featured in several prestigious lists in 2025, including: - No. 9 on FORTUNE's 2025 100 Best Companies to Work For [5] - No. 3 in FORTUNE's 2025 Best Workplaces in Financial Services and Insurance [3] - No. 4 in FORTUNE's 2025 Best Workplaces for Women, up from No. 8 in 2024 [11] - The firm has appeared on the Best Banks to Work For list for 13 consecutive years since its inception in 2013 [2][5] Employee Engagement - Pinnacle's approach to employee engagement includes a two-step evaluation process for workplace satisfaction, which involves assessing workplace practices and surveying employees [4] - The bank's leadership emphasizes the importance of creating a supportive environment where employees feel valued, which in turn enhances client service [2]

Core Insights - Pinnacle Financial Partners and Synovus Financial Corp. will participate in a joint fireside chat at the Goldman Sachs 2025 U.S. Financial Services Conference to discuss their pending merger [1] - Pinnacle Financial Partners is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA and has grown market share in 22 out of 27 MSAs measured [2] - Pinnacle Financial Partners has approximately $56.0 billion in assets as of September 30, 2025, and is the second-largest bank holding company headquartered in Tennessee [3] Company Overview - Pinnacle Financial Partners provides a comprehensive range of banking, investment, trust, mortgage, and insurance products and services [2] - The firm has been recognized as one of America's Best Banks to Work For for 12 consecutive years and ranked No. 9 on FORTUNE magazine's 2025 list of 100 Best Companies to Work For [2] - Pinnacle Financial Partners has been named in the top five nationwide in FORTUNE magazine's 2025 list of the Best Workplaces for Women, ranking No. 4, up from No. 8 in 2024 [6] Financial Performance - Pinnacle Financial Partners announced a cash dividend of $0.24 per share to be paid on November 28, 2025, to common shareholders of record as of November 7, 2025 [7] - The board also approved a quarterly dividend of approximately $3.8 million, or $16.88 per share, on its 6.75 percent Series B Non-Cumulative Preferred Stock [7] Shareholder Approval - Shareholders of Pinnacle Financial Partners and Synovus Financial Corp. voted in favor of the proposed merger, with approximately 91.5 percent of votes cast in favor at the Synovus special meeting [5]

Core Viewpoint - The article discusses two volatile stocks that may offer significant gains and one stock that is recommended for sale, highlighting the importance of careful investment choices in a fluctuating market. Group 1: Stock to Sell - Winnebago (WGO) is identified as a stock to sell, trading at $36.02 per share with a forward P/E of 15.3x [2][4] - The company has a rolling one-year beta of 1.12, indicating moderate volatility [2] Group 2: Stocks to Watch UMB Financial (UMBF) - UMB Financial is a financial holding company with a rolling one-year beta of 1.19, providing various banking and asset management services [5] - The stock trades at $109.20 per share with a forward P/B of 1.1x [7] Pinnacle Financial Partners (PNFP) - Pinnacle Financial Partners has a rolling one-year beta of 1.47 and focuses on delivering big-bank capabilities with community bank personalization [8] - The company has shown impressive annual net interest income growth of 20.1% over the last five years, indicating market share gains [9] - Earnings per share grew by 16.3% annually over the last two years, significantly outperforming peers [9] - The balance sheet strength has improved, with a tangible book value per share growth of 11.6% annually over the last five years [11]

Group 1 - The meeting is an Extraordinary General Meeting of Atlantic Lithium Limited, confirming a quorum is present and the meeting is properly constituted [1] - The meeting is being held virtually, allowing shareholders to attend online via the Computershare platform, where they can listen to the webcast, watch presentations, ask questions, and submit votes [2] - Key directors in attendance include the CEO Keith Muller and Finance Director Amanda Harsas, while some directors have sent their apologies for not attending [3] Group 2 - Online attendees can submit questions at any time using the Q&A icon, with questions addressed at relevant times during the meeting [4] - If multiple similar questions are received, they will be grouped together for efficiency, with a moderator facilitating the process [5] - Voting will be conducted by a poll on all items of business, with a polling icon appearing on attendees' devices when voting opens [6]

Core Viewpoint - Pinnacle Financial Partners and Synovus Financial announced an all-stock transaction to combine, creating a regional bank with a focus on high-growth markets in the Southeast, with combined assets of $116 billion [1]. Group 1: Company Overview - Pinnacle Financial Partners was founded in 2000, with Terry Turner serving as President and CEO since its inception [2]. - Synovus Financial's leadership includes Kevin Blair, who became CEO and President in 2021 and Chairman in 2023, having held various roles since joining in 2016 [2]. Group 2: Financial Projections - The combined entity is expected to achieve top quartile revenue and net income growth, along with the best efficiency ratio among its peers by 2027 [1].

Nov 6, 2025 10:30 AM Eastern Standard Time Pinnacle and Synovus Shareholders Vote in Favor of Combining Firms Share NASHVILLE, Tenn. & COLUMBUS, Ga.--(BUSINESS WIRE)--At separate meetings held today, shareholders ofPinnacle Financial Partners (Nasdaq/NGS: PNFP) and Synovus Financial Corp. (NYSE: SNV) approved the proposed merger of the two firms. At the Synovus special meeting, preliminary results showed approximately 91.5 percent of the votes cast were in favor of the combination, representing approximatel ...

Financial Performance - Diluted net income per common share for Q3 2025 was $2.19, up from $1.86 in Q3 2024, representing a 17.7% increase[149] - Net income available to common shareholders for Q3 2025 was $169.3 million, an 18.5% increase from $142.9 million in Q3 2024[173] - Basic net income per common share rose to $2.20 in Q3 2025, a 17.6% increase from $1.87 in Q3 2024[173] - Net interest income for Q3 2025 was $396.9 million, a 12.9% increase from $351.5 million in Q3 2024[157] - Net interest income for the nine months ended September 30, 2025, reached $1.1 billion, up 13.9% from $1.0 billion in the same period of 2024[174] - Noninterest income for Q3 2025 was $147.9 million, a 28.4% increase from $115.2 million in Q3 2024[173] - Noninterest income increased by $32.7 million, or 28.4%, in Q3 2025 compared to Q3 2024, largely due to a significant rise in income from equity method investments[159] Loans and Deposits - Total loans increased to $37.9 billion as of September 30, 2025, compared to $35.5 billion at December 31, 2024, reflecting a growth of 6.8%[149] - Total deposits rose to $45.7 billion at September 30, 2025, up from $42.8 billion at December 31, 2024, indicating a 6.8% increase[149] - Loans increased by $2.4 billion, or 6.9%, during the nine months ended September 30, 2025 compared to December 31, 2024[165] - Total deposits grew by 6.7% to $45.7 billion as of September 30, 2025, up from $42.8 billion as of September 30, 2024[173] - Noninterest-bearing deposits increased by $782.5 million, or 9.6%, to $9.0 billion at September 30, 2025[165] - Total loans outstanding increased to $37.9 billion as of September 30, 2025, up from $35.5 billion at December 31, 2024[217] - Total deposits rose by $2.9 billion to $45.7 billion between December 31, 2024, and September 30, 2025[217] Credit Losses and Allowance - Provision for credit losses was $31.9 million for Q3 2025, compared to $26.3 million in Q3 2024, reflecting a 21.3% increase[158] - The allowance for credit losses was $434.5 million at September 30, 2025, with a ratio of 1.15% to total loans, down from 1.17% at December 31, 2024[166] - Provision for credit losses increased by 21.5% to $31.9 million in Q3 2025 compared to $26.3 million in Q3 2024[173] - Provision for credit losses was $73.1 million for the nine months ended September 30, 2025, down from $90.9 million in the same period of 2024, reflecting a decrease of 19.5%[187] - The allowance for credit losses (ACL) was approximately $434,500 thousand as of September 30, 2025, representing 1.15% of total loans[227] Merger and Corporate Actions - The company entered into a merger agreement with Synovus, with Pinnacle Financial and Synovus merging into a newly formed entity, Newco[150] - The merger agreement includes a termination fee of $425 million payable under certain circumstances[156] - On July 24, 2025, the company entered into a Merger Agreement with Synovus, with Newco surviving the merger[169] - Merger-related expenses amounted to $7.7 million for the three months ended September 30, 2025, associated with the proposed merger with Synovus[213] Expenses and Efficiency - Noninterest expense increased by $43.8 million, or 16.9%, for the three months ended September 30, 2025 compared to the same period in 2024[161] - The efficiency ratio was 55.6% for the three months ended September 30, 2025, unchanged from the same period in 2024[162] - The efficiency ratio improved to 55.6% for the three months and 57.2% for the nine months ended September 30, 2025, compared to 55.6% and 61.3% for the same periods in 2024[215] Shareholder and Capital Information - Shareholders' equity increased to $6.9 billion as of September 30, 2025, up from $6.4 billion at December 31, 2024[237] - The company has approximately $246.3 million in cash available to support capital needs as of September 30, 2025[239] - The board authorized a share repurchase program for up to $125.0 million, effective through March 31, 2026[240] - The company’s capital ratios exceeded regulatory minimum requirements, indicating a well-capitalized status[237] Asset Management and Investments - The investment securities portfolio increased to $9.1 billion at September 30, 2025, up from $8.4 billion at December 31, 2024, with a tax equivalent yield of 4.41%[229] - The effective duration of the investment portfolio was 2.30% as of September 30, 2025, compared to 2.11% at December 31, 2024[229] - Securities purchased with an agreement to resell amounted to $83.1 million at September 30, 2025, compared to $66.4 million at December 31, 2024[231] Risk Management and Compliance - The bank aims to maintain a non-owner occupied commercial real estate, multifamily, and construction and land development loans to total risk-based capital ratio of less than 225%[219] - The bank's CECL models utilize macroeconomic factors such as the national unemployment rate and GDP to estimate future credit losses, indicating a data-driven approach to risk assessment[225] - The liquidity coverage ratio was compliant as of September 30, 2025, ensuring sufficient cash flows to meet obligations[260] - The company had an estimated $3.4 billion in additional borrowing capacity with the Federal Home Loan Bank (FHLB) as of September 30, 2025[263] Operational Highlights - Service charges on deposit accounts increased by $2.1 million, or 12.8%, in Q3 2025 compared to Q3 2024[160] - Income from wealth management services increased by 29.5% for the three months ended September 30, 2025, compared to the same period in 2024, driven by hiring more revenue producers[191] - Interchange revenues increased by 3.6% during the nine months ended September 30, 2025, primarily due to the volume of commercial credit card usage[203]