Pinnacle Financial Partners Q4 Earnings Call Highlights

Core Insights - Pinnacle Financial Partners discussed the merger with Synovus during the fourth-quarter 2025 earnings call, highlighting integration progress and future expectations for the combined entity [2][3] Merger Close and Integration - The merger between Pinnacle and Synovus was completed 160 days after the announcement, with management emphasizing rapid integration milestones achieved [3] - The combined organization has started implementing Pinnacle's operating model, including integrating legacy Synovus team members into Pinnacle's sales and service meetings [3] - Legacy platforms will remain operational until a systems conversion is scheduled for the first quarter of 2027, with future capabilities expected to enhance business origination and revenue synergies [4] Legacy Performance - CFO Jamie Gregory reported strong fourth-quarter results for both legacy Pinnacle and Synovus, despite the ongoing merger integration [5] - Pinnacle's adjusted EPS for Q4 was $2.24, reflecting an 18% year-over-year increase, with net interest income up 12% and period-end loans rising 10% [5] - Synovus reported an adjusted EPS of $1.45, a 16% year-over-year increase, with a CET1 ratio of 11.28% [5] 2026 Targets - For 2026, the company targets period-end loans of $91–93 billion (up 9–11%), deposits of $106.5–108.5 billion (up 8–10%), and adjusted revenue of $5.0–5.2 billion [5] - The net interest margin (NIM) is expected to be around 3.45–3.55%, with adjusted non-interest expenses projected at $2.7–2.8 billion [5] - The company anticipates $450–500 million in merger-related costs for 2026, a CET1 target of 10.25–10.75%, and a quarterly dividend of $0.50 [5] - A $400 million buyback has been authorized, although early repurchases are unlikely as capital will be prioritized for loan growth [5]