Pinnacle and Synovus announce board composition for merger

Pinnacle Financial Partners (NASDAQ: PNFP) and Synovus Financial Corp. (NYSE: SNV) announced the board composition for their combined company, which will retain the Pinnacle Financial Partners name. The board will include eight directors from Pinnacle and seven from Synovus, with six independent directors from each institution.

Terry Turner, Pinnacle's current president and CEO, will serve as non-executive chair of the combined company. Kevin Blair, Synovus's current CEO, will become president and CEO of the merged entity. Tim Bentsen from Synovus will serve as lead director.

The merger received shareholder approval from both companies on November 6. Federal and state bank regulatory approvals were obtained on November 25 and 26, respectively. The transaction is expected to close on January 1, 2026, subject to remaining customary closing conditions.

The combined company board will include Robert McCabe Jr. as vice chair from Pinnacle, along with directors from both institutions representing expertise in finance, operations, risk management, and commercial real estate. The composition maintains equal representation of independent directors from each company.

Pinnacle, based in Nashville, operates as the largest bank in the Nashville metropolitan area with approximately $56 billion in assets as of September 30. Synovus, headquartered in Columbus, Georgia, manages approximately $60 billion in assets and operates 244 branches across five southeastern states.

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