Pinnacle Financial Partners (PNFB) investor relations material

Executive summary

• Achieved one of the best quarters in company history, with double-digit year-over-year growth in EPS, revenue, and core deposits, and continued a long streak of beat-and-raise results.

• Loans and deposits grew strongly, with annualized linked-quarter increases of 8.9% and 11.3% in Q3 2025, and year-over-year loan growth of 10.6%.

• Net interest income and margin expanded, with NIM at 3.26% in Q3 2025 and net interest income up 18.3% annualized from the previous quarter.

• Credit performance remained robust, with net charge-offs at 0.18% annualized and allowance for credit losses at 1.15% of loans.

• The Synovus merger is progressing well, with key leadership and system decisions finalized and closing expected in Q1 2026.

Financial highlights

• End-of-period loans reached $37.9B, up 10.6% year-over-year; total deposits were $45.7B, up 15.5% year-over-year.

• Q3 2025 net interest income was $396.9 million, up 12.9% year-over-year; net interest margin expanded to 3.26%.

• Noninterest income rose 28.4% year-over-year, driven by wealth management and BHG investment income.

• Adjusted noninterest expense increased 13.9% year-over-year, reflecting higher headcount and incentive accruals.

• Tangible book value per share grew 11.6% year-over-year to $61.53.

Outlook and guidance

• 2025 end-of-period loan growth guidance raised to 9%-10% over 2024; deposit growth outlook increased to 8%-10%.

• Net interest income growth forecast increased to 13%-14% year-over-year; fee income growth expected at 20%-22%.

• Expense guidance (excluding ORE and merger costs) set at $1.15-$1.155 billion for 2025; effective tax rate expected in low 18% range.

• Net charge-offs expected to remain in the 0.18%-0.20% range; provision for loan losses at 0.26%-0.27% of average loans.

• Merger with Synovus projected to deliver significant cost and revenue synergies, with $250 million in estimated cost savings.