Pinnacle Financial earns $2.40 a share in third quarter as Synovus merger adds scale

Pinnacle Financial Partners grew earnings per share by double digits in the third quarter, its third full quarter since combining with Synovus Financial.

Net income available to common shareholders was $364 million, or $2.40 a diluted share, compared with $2.19 a year earlier, according to the earnings release the Atlanta-based bank filed with an 8-K on Wednesday. Excluding merger-related expenses, securities losses and other items, adjusted EPS was $2.69, up from $2.27. From the second quarter, diluted EPS rose 16% from $2.07.

The merger with Synovus closed Jan. 1, so year-over-year comparisons reflect a much larger combined company, Pinnacle said.

"The merger changed our size, not how we perform," President and CEO Kevin Blair said in the release, adding that retention and recruiting are both ahead of plan.

Balance sheet

Period-end loans rose $1.7 billion, or 2%, from the prior quarter to $89.8 billion, led by commercial and industrial lending. Deposits increased $2.1 billion, or 2%, to $103 billion.

Net interest income grew 3% to $986 million, while the net interest margin slipped 4 basis points to 3.40%, which the bank attributed mainly to rising deposit costs and a wholesale-funded liquidity build.

Pinnacle added 96 experienced revenue producers in the quarter, bringing its year-to-date total to 222.

By the numbers

• Net income to common: $364 million
• Diluted EPS: $2.40, vs. $2.19
• Adjusted EPS: $2.69, vs. $2.27
• Loans: $89.8 billion, up 2% from Q2
• Net interest margin: 3.40%

Sources

1. Pinnacle Financial Partners, Inc., Form 8-K (Items 2.02, 7.01) with Exhibit 99.1 earnings release dated Oct. 21, 2026, accession 0002082866-26-000087

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