Pinnacle Financial Partners and Synovus Financial Corp. have received approval from the Federal Reserve Board to move forward with their proposed merger, the companies announced this week.
Shareholders of both firms approved the agreement on Nov. 6. The merger is expected to close on Jan. 1, 2026, pending the satisfaction of the remaining customary conditions.
“Federal bank regulatory approval brings us another step closer to combining two strong organizations with a shared commitment to people,” Synovus CEO Kevin Blair said. Blair will serve as president and CEO of the combined company.
Pinnacle President and CEO Terry Turner, who will chair the new board, said teams from both firms are coordinating to complete the transition.
“This is such a complex process, but both teams are pulling in the same direction toward the end goal, which is to create a bank that’s bigger, stronger and better able to serve the needs of our clients and communities than ever before,” Turner said.
The combined company will have approximately $116 billion in assets. The holding company will be based in Atlanta, while Pinnacle Bank will operate from Nashville as a Tennessee state-chartered bank and member of the Federal Reserve System.
Integration planning is underway, with “Day One” operations mapped out, according to the announcement. Throughout 2026, staff will work to align systems, processes and personnel under the Pinnacle brand. Full system and brand conversions are expected in the first half of 2027. Synovus locations will continue to operate under their existing name until that transition occurs.
Blair said lessons from previous bank mergers have shaped the firms’ approach.
“By focusing on the client and team member experiences and keeping local leadership and continuity across our markets, we’re building on Pinnacle’s legacy as one of America’s top-performing banks,” he said.
Pinnacle, headquartered in Nashville, reported roughly $56 billion in assets as of Sept. 30 and is the largest bank by deposits in the Nashville–Murfreesboro–Franklin metro area, according to FDIC data. Synovus, based in Columbus, Georgia, reported about $60 billion in assets and operates 244 branches across five Southeastern states.