Pinnacle emerges as $117B bank after completing Synovus deal

Core Insights - Pinnacle Financial Partners and Synovus Financial have completed their merger of equals, creating a bank with $117 billion in assets focused on the Southeast [1][9] - The merger was finalized on January 1, 2026, one month earlier than initially expected, following shareholder and regulatory approvals [2][9] - Kevin Blair, former CEO of Synovus, is now the CEO of the combined entity, which will operate under the Pinnacle name [3][9] Company Structure and Operations - The combined company, Pinnacle Financial Partners, is headquartered in Atlanta, while the surviving bank, Pinnacle Bank, is based in Nashville [7] - The bank will operate under both the Pinnacle and Synovus brands until early 2027, when it will fully consolidate under the Pinnacle name [7][9] - The merger has faced skepticism from investors, with shares of Pinnacle trading lower after the announcement [4][6] Market Position and Future Outlook - The merger positions the combined company as the 34th or 35th largest bank holding company in the U.S., up from Synovus at 53rd and Pinnacle at 54th [11] - Analysts have expressed a more favorable view of the merger over time, noting that the leadership structure is designed to avoid common pitfalls seen in other mergers of equals [5][9] - The transaction is seen as a test case for future mergers of equals, which have generally lost favor with investors due to past underperformance [9]