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].

Group 1 - The Federal Reserve Board approved Steel Newco, Inc.'s application to become a bank holding company by merging with Synovus Financial Corporation and Pinnacle Financial Partners [1] - As a result of the merger, Steel Newco will indirectly acquire Synovus Bank and Pinnacle Bank [1] - The Board also approved the merger of Pinnacle Bank with Synovus Bank, allowing Pinnacle Bank to remain a state member bank under Federal Reserve supervision [2] Group 2 - Pinnacle Bank received approval to establish and operate branches at the locations of Synovus Bank [2]

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].

Core Points - Shareholders of Pinnacle Financial Partners and Synovus Financial Corp. have approved the merger, with 92.2% and 91.5% of votes in favor respectively [1][2] - The merger is expected to create a leading regional bank focused on sustainable revenue and EPS growth, enhancing shareholder returns [2] - The merger is anticipated to close in the first quarter of 2026, pending regulatory approvals and other customary closing conditions [3][4] Pinnacle Financial Partners - Pinnacle Financial Partners has approximately $56.0 billion in assets as of September 30, 2025, and is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA according to 2025 FDIC deposit data [5][6] - 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 [5] - Pinnacle began operations in October 2000 and has grown significantly, operating in several urban markets across the Southeast [6] Synovus Financial Corp. - Synovus Financial Corp. has approximately $60 billion in assets and operates 244 branches across five states [8] - The company offers a full suite of financial services, including commercial and consumer banking, wealth services, and capital markets [8] - Synovus is recognized as a Great Place to Work-Certified Company [8]

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]

Core Insights - Pinnacle Financial Partners has been recognized as one of the top five Best Workplaces for Women by FORTUNE magazine, ranking No. 4 in 2025, an improvement from No. 8 in 2024 [1] Company Recognition - This marks the eighth time Pinnacle Financial Partners has been included in this prestigious list, having previously earned this distinction in 2023, 2022, 2021, 2020, 2018, and 2017 [1] - The firm was founded 25 years ago with a vision to be the best financial services firm and the best place to work [1]