SNV Research | Milton Maxwell

SNV

Synovus Financial Corp.

52.54

-0.34-0.64%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

7.29B

P/E (TTM)

9.84

Basic EPS (TTM)

5.34

Dividend Yield

0.03%

Recent Filings

8-K

Synovus Bank issues $500M notes

12/9/25Dec 9, 2025

Synovus Bank issued $500 million of 5.957% Fixed-to-Fixed Rate Subordinated Notes due 2036 on December 9, 2025, netting ~$496 million after expenses for general corporate purposes. Rates fix at 5.957% until January 15, 2031, then reset to five-year Treasury plus 2.300%. Bolsters capital base. Redeemable before maturity.

8-K

Pinnacle merger details unveiled

12/8/25Dec 8, 2025

Synovus previewed its Goldman Sachs conference talk, spotlighting the pending Pinnacle merger set to close January 1, 2026. Pro forma targets dazzle: 10.5% revenue CAGR through 2027, ~47% efficiency ratio, ~3.50% NIM run-rate. Merger promises $100MM-$130MM revenue synergies. Risks loom from integration snags.

8-K

Merger board named

12/1/25Dec 1, 2025

Synovus and Pinnacle unveiled the 15-member board for their merger into Newco, renamed Pinnacle Financial Partners, with eight from Pinnacle and seven from Synovus. M. Terry Turner takes non-executive chair; Tim E. Bentsen leads as independent director. Shareholders approved November 6; regulators greenlit last week. Closing eyed for January 1, 2026, yet integration risks loom.

8-K

Merger pro forma update

12/1/25Dec 1, 2025

Synovus updated pro forma financials for its pending merger with Pinnacle, announced July 24, 2025, showing combined $117B assets and $96B deposits as of September 30, 2025. Synovus shareholders get 0.5237 Newco shares per share. Pro formas preliminary; integration risks loom large.

8-K

Regulatory approvals secured

11/26/25Nov 26, 2025

Synovus and Pinnacle secured all required regulatory approvals, including Federal Reserve, Tennessee, and Georgia nods on November 25-26, 2025, clearing the path for their merger to close January 1, 2026. The deal merges both into Newco (renamed Pinnacle Financial Partners) with a subsequent bank merger, creating a $116 billion asset powerhouse headquartered in Atlanta and Nashville. Integration runs through 2026. Customary closing conditions remain.

About

Synovus Financial Corp. operates as the bank holding company for Synovus Bank that provides commercial and consumer banking products and services in the United States. It operates in four segments: Wholesale Banking, Community Banking, Consumer Banking, and Financial Management Services. The company provides commercial banking services, including commercial, financial, real estate lending, treasury management, asset management, capital markets services, and institutional trust services; consumer banking services, such as accepting customary types of demand and savings deposit accounts, mortgage, installment, and other consumer loans, investment and brokerage services, safe deposit services, automated banking services; automated fund transfers, internet-based banking services, and bank credit and debit card services. It also engages in portfolio management for fixed-income securities investment banking; the execution of securities transactions as a broker/dealer; and the provision of individual investment advice on equity and other securities, and financial planning services. The company was founded in 1888 and is headquartered in Columbus, Georgia.

CEO

Mr. Kevin S. Blair

IPO

9/12/1989

Website

https://www.synovus.com

Employees

4,847

Sector

Financial Services

Industry

Banks - Regional