Pinnacle Bank and Synovus Bank Merger to Drive 21% EPS Growth by 2027

The $8.6 billion all-stock merger between Pinnacle Bank and Synovus Bank is set to create the Southeast's fastest-growing regional banking institution. The deal, approved unanimously by both boards, combines $115.8 billion in assets and is projected to deliver a 21% boost to earnings per share by 2027.

Under the terms, Synovus shareholders will receive 0.5237 shares per Pinnacle share, valuing Synovus at $61.18 per share—a 10% premium. The transaction is tax-free for shareholders, with Synovus investors owning 48.5% of the merged entity and Pinnacle holders controlling 51.5%.

The merger establishes the largest bank holding company in Georgia and Tennessee's biggest bank. CEO Kevin Blair will lead the combined organization, which targets a rapid 2.6-year earnback period.