Synovus to merge with Pinnacle in $8.6 billion deal

COLUMBUS, Ga. (WTVM) - Columbus-based Synovus Financial Corp. is set to merge with Nashville-headquartered Pinnacle Financial Partners in an $8.6 billion all-stock deal that will create one of the strongest regional banks in the Southeast.

Though the new bank will operate under the Pinnacle name and brand, Synovus President and CEO Kevin Blair will lead the combined company, while Pinnacle’s CEO Terry Turner will serve as chairman of the board. The deal is expected to close in early 2026.

The merger will create the largest bank holding company in Georgia and Tennessee, with dual headquarters in Atlanta and Nashville. Together, they’ll hold a top-5 market share in 10 Southeastern metro areas and continue major operations in cities like Columbus, where Synovus has long been a local economic cornerstone.

“We are two high-performing institutions with one powerful future, our belief in the success of this merger is grounded in a decade of strong results and proven execution from both companies, each delivering top-tier earnings and total shareholder returns.”

Kevin Blair, President and CEO of combined company

The companies say they are committed to continuing their philanthropic work and community investment in Columbus and across the Southeast. The combined company’s stock will trade on the NYSE under Pinnacle’s current ticker symbol: PNFP.