Pinnacle and Synovus shareholders approve merger deal

Shareholders of Pinnacle Financial Partners (NASDAQ: PNFP) and Synovus Financial Corp. (NYSE: SNV) approved the proposed merger of the two banking companies at separate meetings.

At the Synovus special meeting, approximately 91.5 percent of votes cast favored the combination, representing about 69.4 percent of total outstanding shares entitled to vote as of the September 26, 2025 record date. Pinnacle shareholders voted approximately 92.2 percent in favor, representing about 73.2 percent of total outstanding shares entitled to vote as of the same record date.

The transaction requires regulatory approvals and satisfaction of other customary closing conditions before completion. The companies expect the merger to close in the first quarter of 2026.

Terry Turner, Pinnacle's president and CEO, will serve as chairman of the combined company's board. Kevin Blair, Synovus CEO, will become CEO of the post-merger entity, which will operate under the Pinnacle Financial Partners name.

Pinnacle operates with approximately $56.0 billion in assets as of September 30, 2025, while Synovus has approximately $60 billion in assets. Nashville-based Pinnacle serves primarily urban markets across the Southeast, while Columbus, Georgia-based Synovus operates 244 branches in Georgia, Alabama, Florida, South Carolina and Tennessee.

Integration management teams from both companies continue developing plans for combining operations, including organizational structure, benefit plans and technology systems.

The information is based on a press release statement from the companies.

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