Two leading southeastern banks are merging in an $8.6 billion all-stock deal. Nashville-based Pinnacle Financial Partners and Synovus Financial Corp., headquartered in Columbus, Georgia, will join forces to form a major regional banking player.
According to both companies, the merger will create the highest-performing regional bank in the South’s fastest-growing markets. The transaction is expected to close in the first quarter of 2026, pending regulatory approval.
New Leadership and Structure
The combined bank will operate under the Pinnacle Financial Partners and Pinnacle Bank name and brand. Synovus CEO and President Kevin Blair will become the CEO and president of the merged company. Pinnacle CEO Terry Turner will serve as chairman of the board.
The new board of directors will include 15 members, with eight from Pinnacle and seven from Synovus.
In Alabama, Synovus Executive Director of Middle Market Banking Chris Abele will lead operations. Synovus currently has 40 locations across the state, while Pinnacle operates in Birmingham and Huntsville.
Strategic Impact and Market Reach
Turner said the merger would extend Pinnacle’s reach into the most competitive banking markets nationwide. Blair echoed the optimism, calling it a combination of “high-performing institutions with one powerful future.”
He added, “Our belief in this merger’s success is grounded in a decade of strong performance and consistent execution. Both companies have delivered top-tier earnings and shareholder returns.”
With their combined resources and regional strength, the merger positions the new bank as a top competitor in the South’s rapidly expanding financial landscape.
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