v3.26.3
Business Combination (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price Allocation
(in millions)
Assets acquired:
Cash and cash equivalents$2,538 
Investment securities9,830 
Loans held for sale106 
Loans43,952 
Allowance for loan losses(478)
Loans, net43,474 
Premises, equipment, and software561 
Cash surrender value of bank-owned life insurance941 
Identifiable intangible assets1,110 
Other assets2,762 
Total assets acquired$61,322 
Liabilities assumed:
Deposits$51,316 
Federal funds purchased, and securities sold under repurchase agreements49
FHLB advances and other borrowings2,506 
Other liabilities1,516 
Total liabilities assumed$55,387 
Net assets acquired$5,935 
Consideration:
Fair value of common stock issued$6,940 
Fair value of preferred stock issued564 
Fair value of equity awards71 
Total preliminary consideration$7,575 
Preliminary goodwill$1,640 
Schedule of Pro Forma Financial Information
The following table presents certain unaudited pro forma condensed combined financial information for the results of operations for the three and nine months ended September 30, 2025, as if Synovus had been acquired on January 1, 2025 by Pinnacle. The unaudited pro forma results include the estimated impact of amortizing and accreting certain purchase accounting adjustments such as intangible assets as well as fair value adjustments to loans, borrowings, and owned and leased premises and equipment. Pro forma combined results also include the adjustments for the elimination of Synovus’ net deferred origination fees accretion and intangible amortization. The unaudited pro forma adjustments are based upon available information and certain assumptions that Pinnacle (as the accounting acquirer) believes are reasonable. The following unaudited pro forma condensed combined financial information does not reflect the costs of any integration activities or benefits that may result from the realization of future cost savings from operating efficiencies. Certain reclassifications have also been made to align Pinnacle’s and Synovus’ historical financial statement presentation. The unaudited pro forma information is provided for illustrative purposes only and is not necessarily indicative of the results that would have occurred had the acquisition been consummated on January 1, 2025 nor is it indicative of future results.
Unaudited Pro Forma
(in millions)Three Months Ended September 30,Nine Months Ended September 30,
20252025
Net interest income
$899 $2,621 
Total non-interest revenue$288 $763 
Net income available to common shareholders$343 $1,004