Financial Data and Key Metrics Changes - Pinnacle reported fourth quarter adjusted EPS of $2.24, stable quarter over quarter and up 18% year over year [10] - Net interest income increased 3% from the third quarter and 12% year over year [10] - Period-end loans grew at a strong 3% from the prior quarter and 10% year over year [10] - Core deposit growth was healthy at 3% quarter over quarter and 10% year over year [10] - Adjusted non-interest revenue declined 6% from the third quarter but jumped 25% year over year [10] - Synovus reported strong fourth quarter adjusted diluted EPS of $1.45, stable quarter over quarter and increased 16% year over year [11] Business Line Data and Key Metrics Changes - Legacy Pinnacle grew adjusted diluted EPS by 22% in 2025, while Legacy Synovus grew adjusted diluted EPS by 28% [7] - BHG contributed $31 million in fee revenue to Pinnacle [11] - Synovus generated healthy growth in adjusted non-interest revenue, which grew 6% from the prior quarter and 16% year over year to $144 million [12] Market Data and Key Metrics Changes - The merger between Pinnacle and Synovus was completed on January 1st, demonstrating effective integration [8] - The combined company expects period-end loans to grow to $91-$93 billion, or up 9%-11% versus combined loans at year-end 2025 [17] - Total deposits are expected to grow to $106.5-$108.5 billion, or up 8%-10% this year [18] Company Strategy and Development Direction - The company aims to deliver exceptional client service and industry-leading loyalty, focusing on attracting and retaining revenue producers [5][6] - The goal is to hire 250 total revenue producers in 2026, with loan growth supported by financial advisors hired in the past three years [17] - The company plans to realize $100 million in annualized merger-related expense savings in 2026 [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving loan growth targets despite competitive pressures and economic uncertainties [44] - The company anticipates a constructive credit environment with net charge-offs estimated to be in the range of 20-25 basis points for the year [20] - Management is optimistic about the potential for revenue synergies and expects strong earnings performance in 2026 [21] Other Important Information - The company has undertaken a meaningful repositioning within the legacy Synovus securities portfolio, selling approximately $4.4 billion and purchasing new securities with an average yield of 4.7% [15] - The CET1 ratio ended the quarter at 10.88% for Pinnacle and at an all-time high of 11.28% for Synovus [11][14] Q&A Session Summary Question: What can the combined bank not do today that it will be able to do a year from now post-conversion? - Management indicated that both companies will operate on existing legacy platforms until conversion, but new capabilities and products will arise post-conversion [33] Question: When do you think you would actually initiate buybacks? - Management stated that they would reassess buybacks later in the year, with no purchases expected in the first or second quarter due to capital ratios [38] Question: Can you walk us through your confidence in achieving loan growth targets? - Management highlighted that fourth quarter pro forma company generated 10% loan growth already, with confidence stemming from existing team members and recent hires [44] Question: What is the outlook for fee income guidance for the capital markets business? - Management expressed optimism about capital markets as a growth area, expecting strong growth in capital markets fees in 2026 [54] Question: How do you plan to handle higher hold limits? - Management clarified that higher hold limits would allow for slightly larger loan sizes while still utilizing a strong syndicated platform to manage risk [80]

Financial Data and Key Metrics Changes - Pinnacle reported fourth quarter adjusted EPS of $2.24, stable quarter over quarter and up 18% year over year [8] - Net interest income increased 3% from the third quarter and 12% year over year [8] - The net interest margin increased one basis point to 3.27% [8] - Synovus reported strong fourth quarter adjusted diluted EPS of $1.45, stable quarter over quarter and increased 16% year over year [9] Business Line Data and Key Metrics Changes - Pinnacle's period-end loans grew at a strong 3% from the prior quarter and 10% year over year [8] - Core deposit growth was healthy at 3% quarter over quarter and 10% year over year [8] - Synovus's period-end loan growth was $872 million, or 2% from the prior quarter and 5% from the previous year [10] - Synovus's core deposits grew $895 million, or up 2% quarter over quarter [10] Market Data and Key Metrics Changes - The merger between Pinnacle and Synovus was completed on January 1, 2026, demonstrating effective integration [6] - Both organizations have successfully completed key milestones over the past two quarters, reinforcing a solid foundation for continued growth [6] Company Strategy and Development Direction - Pinnacle aims to produce strong, above-peer revenue, earnings per share, and tangible book value growth [4] - The company plans to hire 250 total revenue producers in 2026, with expectations of loan growth to reach $91-$93 billion, up 9%-11% versus year-end 2025 [15] - The adjusted revenue outlook for 2026 is projected at $5-$5.2 billion [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving loan growth targets despite competitive pressures and economic uncertainties [40] - The company anticipates a constructive credit environment with net charge-offs estimated to be in the range of 20-25 basis points for the year [18] - Management highlighted the importance of maintaining high net promoter scores to ensure client satisfaction and service quality [30] Other Important Information - The company expects to realize 40% or $100 million of annualized merger-related expense savings in 2026 [18] - A $400 million common share repurchase program has been authorized to manage capital in multiple growth scenarios [19] - The quarterly common equity dividend will be $0.50 per share starting in the first quarter [19] Q&A Session Summary Question: What can the combined bank not do today that it will be able to do a year from now post-conversion? - The combined bank will move to an in-state platform that takes the best of both organizations, allowing for new capabilities and products [29] Question: When do you think you would actually initiate buybacks? - The company is likely to accrete capital for a time period and reassess buybacks later in the year, with no purchases expected in the first or second quarter [32] Question: Can you walk us through your degree of confidence in achieving loan growth targets? - The company generated 10% loan growth in the fourth quarter and expects growth from existing team members and recent hires [40] Question: What is embedded in the fee income guidance for the capital markets business? - The capital markets platforms are seen as a significant area of opportunity, with expectations of strong growth in capital markets fees in 2026 [46] Question: How do you plan to handle higher hold limits? - The company plans to increase hold limits slightly, allowing for larger loan sizes while continuing to manage risk through syndication [67]

This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Pinnacle's use of wo ...

Core Viewpoint - Pinnacle Financial Partners (PNFP) has underperformed over the past year, losing approximately 15% of its value, which has raised concerns among investors [1] Company Performance - The stock of Pinnacle Financial Partners has seen a significant decline, with a 15% loss in value over the last year [1] - The company agreed to acquire Synovus, which was unexpected as many anticipated Pinnacle would be the one to be acquired [1]

Core Insights - Pinnacle Financial reported revenue of $546.3 million for the quarter ended December 2025, reflecting a year-over-year increase of 14.9% [1] - The company's EPS was $2.24, up from $1.90 in the same quarter last year, but fell short of the consensus estimate of $2.32, resulting in an EPS surprise of -3.24% [1] - The revenue fell slightly below the Zacks Consensus Estimate of $557.02 million, leading to a revenue surprise of -1.92% [1] Financial Metrics - Net Interest Margin stood at 3.3%, matching the five-analyst average estimate [4] - Efficiency Ratio was reported at 55.8%, higher than the five-analyst average estimate of 52.9% [4] - Annualized net loan charge-offs to average loans were 0.3%, exceeding the four-analyst average estimate of 0.2% [4] - Nonaccrual loans totaled $133.36 million, lower than the three-analyst average estimate of $151.88 million [4] - Average balances of total interest-earning assets were $51.48 billion, below the $52.89 billion average estimate from three analysts [4] - Total nonperforming assets were reported at $141.45 million, also lower than the three-analyst average estimate of $158.12 million [4] - Total noninterest income was $134.77 million, compared to the $144.43 million average estimate based on five analysts [4] - Net Interest Income was $407.44 million, below the four-analyst average estimate of $414.62 million [4] - Trust fees were reported at $11.42 million, exceeding the two-analyst average estimate of $10.45 million [4] - Service charges on deposit accounts were $18.72 million, slightly above the $18.61 million estimated by two analysts [4] - Insurance sales commissions were $3.14 million, lower than the $4.01 million average estimate based on two analysts [4] - Gains on mortgage loans sold, net, were $1.35 million, compared to the $2.19 million average estimate based on two analysts [4] Stock Performance - Pinnacle Financial's shares have returned -3.9% over the past month, while the Zacks S&P 500 composite has changed by -0.4% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - Pinnacle Financial's quarterly earnings of $2.24 per share fell short of the Zacks Consensus Estimate of $2.32 per share, marking an earnings surprise of -3.24% compared to the previous year's earnings of $1.9 per share [1] Group 1: Earnings Performance - The company reported revenues of $546.3 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 1.92%, while year-ago revenues were $475.33 million [2] - Over the last four quarters, Pinnacle Financial has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Pinnacle Financial shares have increased by about 2% since the beginning of the year, contrasting with the S&P 500's decline of 0.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] Group 3: Estimate Revisions and Rankings - The estimate revisions trend for Pinnacle Financial was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $2.35 on revenues of $1.15 billion, and for the current fiscal year, it is $10.33 on revenues of $4.83 billion [7] Group 4: Industry Context - The Zacks Industry Rank for Banks - Southeast is currently in the top 31% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]

Core Insights - Pinnacle Financial Partners, Inc. reported a net income per diluted common share of $2.13 for Q4 2025, reflecting an increase of approximately 11.5% from $1.91 in Q4 2024 [1] - For the full year ended December 31, 2025, the net income per diluted common share was $8.07, compared to $5.96 for the year ended December 31, 2024 [1]

Core Insights - Pinnacle Financial Partners and Synovus Financial Corp reported strong financial results for 2025, with legacy Pinnacle achieving a 35% increase in diluted EPS and legacy Synovus a 76% increase, reflecting a commitment to growth amid their merger [2][3] Financial Performance - For the fourth quarter of 2025, Synovus reported net income available to common shareholders of $171.1 million, a decrease of 8% sequentially and 4% year-over-year [11] - The diluted earnings per share for Synovus in Q4 2025 was $1.22, down 8% from Q3 2025 and down 2% from Q4 2024, while adjusted diluted EPS was stable at $1.45, up 16% year-over-year [7][12] - Total revenue for Synovus in Q4 2025 was $629.7 million, an increase of 2% from Q3 2025 and 7% from Q4 2024 [6][11] Balance Sheet Highlights - Total loans for Synovus at the end of Q4 2025 were $44.63 billion, a 2% increase from Q3 2025 and a 5% increase year-over-year [9] - Total deposits reached $51.32 billion, up 3% sequentially and relatively stable year-over-year [10] Non-Interest Revenue and Expenses - Non-interest revenue for Synovus in Q4 2025 was $145.1 million, a 3% increase from Q3 2025 and a 16% increase year-over-year [11] - Non-interest expense remained stable at $349.6 million, with a slight increase of 2% from Q3 2025 and a 13% increase year-over-year [11] Credit Quality - Synovus maintained healthy credit quality, with a non-performing loan ratio of 0.57% and an annualized net charge-off ratio of 0.22% for Q4 2025 [7][11] - The provision for credit losses was $33.0 million, up from $21.7 million in Q3 2025, but stable compared to $32.9 million in Q4 2024 [11] Merger Insights - The merger between Pinnacle and Synovus closed on January 1, 2026, creating a leading regional bank poised for accelerated growth [3] - Integration teams are working to ensure a seamless transition, with systems and brand conversions expected by March 2027 [3]

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of ...

Core Viewpoint - Analysts project that Pinnacle Financial (PNFP) will report quarterly earnings of $2.32 per share, reflecting a year-over-year increase of 22.1%, with revenues expected to reach $557.02 million, up 17.2% from the same quarter last year [1]. Earnings Estimates - The consensus EPS estimate has been revised 2.9% higher in the last 30 days, indicating a collective reevaluation by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Key Financial Metrics - Analysts expect the 'Net Interest Margin' to be 3.3%, up from 3.2% in the same quarter last year [5]. - The 'Efficiency Ratio' is projected to be 52.9%, improved from 55.1% a year ago [5]. - 'Nonaccrual loans' are estimated at $151.88 million, compared to $147.83 million last year [5]. Asset and Income Projections - 'Average balances - Total interest-earning assets' are forecasted to reach $52.89 billion, up from $46.40 billion a year ago [6]. - 'Total nonperforming assets' are expected to be $158.12 million, compared to $149.11 million last year [6]. - 'Total noninterest income' is projected at $144.43 million, up from $111.55 million in the same quarter last year [7]. - 'Net Interest Income' is estimated at $414.62 million, compared to $363.79 million last year [7]. Additional Income Metrics - 'Trust fees' are expected to reach $10.45 million, compared to $9.10 million last year [8]. - 'Service charges on deposit accounts' are projected at $18.61 million, up from $15.18 million in the same quarter last year [8]. - 'Income from equity method investment' is forecasted at $36.30 million, compared to $12.07 million last year [9]. - 'Other noninterest income' is expected to be $49.70 million, slightly down from $50.44 million last year [9]. - The consensus estimate for 'Investment services' stands at $24.63 million, compared to $19.23 million last year [10]. Stock Performance - Over the past month, shares of Pinnacle Financial have returned -4.1%, while the Zacks S&P 500 composite has changed by +1.6% [10].