Core Viewpoint - Pinnacle Financial Partners Inc. is recognized as one of the top bank stocks to buy in 2026, with a recent price target increase by Evercore ISI to $116, reflecting positive sentiment towards the stock [1][8]. Financial Performance - The company reported a 12.5% year-over-year growth in net income available to common shareholders, reaching $166.0 million, up from $147.5 million [2]. - Diluted earnings per share increased by 11.5% year-over-year to $2.13, compared to $1.91 [2]. Revenue Drivers - Earnings growth was primarily driven by a 12.0% year-over-year increase in net interest income (NII), totaling $407.4 million, up from $363.8 million [3]. - Earning assets grew by 9.5% year-over-year to $51.7 billion, with loans accounting for 82% of this increase, rising 10.3% year-over-year to $39.2 billion [3]. Funding and Asset Growth - The asset base expansion of $4.5 billion was largely funded by a 10.0% year-over-year growth in deposits, which reached $41.9 billion, up from $38.1 billion [4]. - Longer-term debt and other funding sources increased by 9.1% year-over-year to $8.0 billion [4]. Margin and Guidance - Net interest margins (NIM) showed a modest expansion of 5 basis points year-over-year to 3.27% [4]. - Management anticipates $250 million in cost synergies from the merger with Synovus, with a projected consolidated loan book of $91-$93 billion by the end of 2026 [5]. Company Overview - Pinnacle Financial Partners Inc. operates Pinnacle Bank, providing a range of financial services including banking, investment, trust, mortgage, and insurance for both consumer and commercial clients [6].

Pinnacle Financial Partners Conference Call Summary Company Overview - **Company**: Pinnacle Financial Partners (NasdaqGS:PNFP) - **Event**: 2026 Conference Call - **Date**: February 11, 2026 Key Points Merger and Cultural Integration - The merger with Legacy Synovus has been a focal point over the past 6-9 months, with emphasis on maintaining the Pinnacle model and integrating cultures [3][4] - Pinnacle received 50 Greenwich Awards for client satisfaction, ranking number 1 and number 6 in the country, indicating strong client loyalty despite merger uncertainties [4][5] - Team member engagement is high, with Pinnacle at 93% and Legacy Synovus at 89%, reflecting a positive work environment [4] Incentive Structure - The merger will maintain a geographically based model with a company performance-based incentive plan, which is different from individual incentive plans [6][7] - All team members, approximately 8,500, will receive equity annually and be on the same incentive plan, which was rolled out in Q4 2025 [11][12] - The acceleration of incentive plan costs will result in an additional $30 million expense in 2026, impacting cost synergies [12] Loan Growth Outlook - Loan growth is projected at 9%-11% for 2026, primarily driven by bankers already hired, with a strong performance in Q4 2025 showing 10% loan and deposit growth [24][26] - Legacy Pinnacle achieved 12% loan growth, while Legacy Synovus achieved 8%, indicating a solid foundation for future growth [26][27] - The company is confident in maintaining momentum, with expectations for good loan growth in Q1 2026 [28] Deposit Strategy - Deposit growth will be driven by new bankers bringing over relationships, with a focus on balanced growth [36][38] - The company has capabilities to increase deposits but aims to do so at a manageable cost to maintain net interest margin (NIM) [40] Expense Management and Synergies - The company is targeting $250 million in net synergies from the merger, with a focus on team and client treatment before achieving cost efficiencies [43][44] - There are opportunities for further efficiency improvements beyond the immediate merger synergies, particularly in back-office operations [44][46] Banker Retention and Hiring - Banker retention is a key metric, with a voluntary turnover goal of 7%, which is competitive compared to industry standards [48][49] - The merger has not resulted in significant unexpected attrition, and the company continues to attract new talent due to its positive work environment [50][53] Technology and AI Integration - The company is leveraging AI to improve productivity and reduce manual tasks, with a focus on enhancing banker capabilities [62][63] - AI tools have been deployed for fraud detection and client insights, contributing to a reduction in fraud incidents [64][65] Credit Quality and Market Conditions - Credit quality remains stable, with no systemic issues identified, and expectations for a benign credit environment in 2026 [68] - The company is monitoring commercial real estate (CRE) conditions, anticipating potential growth as the market stabilizes [69] Capital Management - The company has a $400 million capital authorization in place, with plans to accrete capital gradually while assessing economic conditions [70][71] - Current CET1 is estimated at about 10%, with a goal to reach a range of 10.25%-10.75% [71] Conclusion Pinnacle Financial Partners is navigating its merger with Legacy Synovus while maintaining a strong focus on cultural integration, client satisfaction, and growth strategies. The company is optimistic about loan growth, efficient expense management, and leveraging technology to enhance operations. The outlook for credit quality remains stable, and capital management strategies are in place to support future growth.

ATLANTA & NASHVILLE, Tenn.--(BUSINESS WIRE)---- $PNFP--Pinnacle Financial Partners (NYSE: PNFP) earned a combined 50 Coalition Greenwich 2026 Best Bank Awards for service provided in 2025: 32 earned by legacy Pinnacle and 18 by legacy Synovus. Legacy Pinnacle earned more Coalition Greenwich 2026 Best Bank Awards than any other bank in the country, while legacy Synovus ranked No. 6 in the highest number of awards nationwide. These awards are given on a national and regional basis for service to small busi. ...

Group 1 - First Citizens Bank has appointed Robert Horne as Director of Middle Market Banking for Florida, aiming to enhance its presence in the state's middle market banking sector [1] - Horne brings over 10 years of experience in commercial banking and equipment finance, which will be crucial for the bank's growth strategy in Florida [1] - The middle market banking practice of First Citizens focuses on clients with revenues exceeding $75 million, providing a comprehensive suite of product solutions [2] Group 2 - First Citizens Bank is headquartered in Raleigh, N.C., and is recognized as a top 20 U.S. financial institution with over $200 billion in assets [3] - The bank offers a wide range of services including personal, business, commercial, and wealth management, emphasizing long-term financial strength [3]

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]

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] - 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 - Pinnacle's adjusted non-interest revenue declined 6% from the third quarter but jumped 25% year over year, driven by higher service charges and wealth management revenue [10][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 within 160 days [8] - Legacy Pinnacle achieved a number one Net Promoter Score ranking, while legacy Synovus ranked third among top market share banks [7] Company Strategy and Development Direction - The company aims to produce strong, above-peer revenue, earnings per share, and tangible book value growth, focusing on exceptional client service and industry-leading loyalty [5][6] - The goal for 2026 includes hiring 250 total revenue producers, with expectations for period-end loans to grow to $91-$93 billion, representing a 9%-11% increase [17][18] - The company anticipates adjusted revenue of $5-$5.2 billion in 2026, with a net interest margin estimated in the $345-$355 range [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving loan growth targets despite competitive pressures, citing a positive client sentiment and a strong hiring model [44][46] - The company expects to realize 40% of its annualized merger-related expense savings in 2026, with a target CET1 ratio of 10.25%-10.75% [20] Other Important Information - The company retired $200 million of subordinated Tier 2 notes in October before issuing $500 million in December [14] - A $400 million common share repurchase program was authorized to manage capital in multiple growth scenarios [21] 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 [33] 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 quarter [38] Question: Can you walk us through your 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 [44][46] Question: What is the outlook for fee income guidance for the capital markets business? - The capital markets business is expected to show strong growth, with over 15% growth in swap fees and opportunities for revenue synergies [54] 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 [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 [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]

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 Viewpoint - The company is undergoing a significant transformational merger of equals, which has received regulatory approval and is expected to close early next year [1][2]. Group 1 - The merger was announced in July and is considered one of the busiest years for the company [1]. - Kevin Blair will serve as the CEO of the combined entity post-merger, while Terry Turner, the CEO of Pinnacle, will become the Chairman [2]. - The presentation format will include a fireside chat, referencing slides shared by the company [2].