2025-07-24 21:30Transaction Overview - Pinnacle and Synovus are combining to build the Southeast Growth Champion, with the transaction expected to close on March 31, 2026[3, 86] - The combined company aims to achieve top-quartile performance through high-growth markets, a winning culture, exceptional client service, a profitable growth strategy, and an efficient operating model[61] Financial Highlights - The combination is projected to result in $250 million in run-rate net expense savings, achieved through a detailed review of staffing, technology, and real estate needs[45] - The pro forma combined company is expected to generate $24 billion in capital in the first 7 quarters after closing, supporting future growth[49] - The transaction is expected to be EPS accretive, with pro forma 2027 EPS accretion estimated at 21%[17, 71] Market Position and Growth - The pro forma company will have a significant deposit market share in key Southeast MSAs, including a 1 rank in Carolinas with 148% deposit share[28, 36] - The combined company is positioned in America's best growth markets, with a pro forma branch footprint in areas projected to grow 2x faster than the national average in household growth at 46%[21, 26] - The combined entity boasts superior branch efficiency, with average deposits per branch of $202 million[22, 61] Synergies and Integration - The merger is expected to result in $285 million in gross synergies, partially offset by $35 million in additional investments for LFI readiness[45] - Limited workforce impact is anticipated, with only approximately 5% of the combined workforce expected to be affected[46] - The integration is designed to be low-risk due to limited geographic overlap, with over 75% of Pinnacle's deposits and over 75% of Synovus' deposits in non-shared MSAs[38]