Pinnacle Financial Partners (PNFP) Q1 2026 earnings summary

Executive summary

• Completed merger with Synovus on January 1, 2026, creating a larger, more diversified regional bank with expanded scale, presence in the Southeast, and new regulatory requirements as a Category IV institution.

• First quarter 2026 marked the first full quarter as a combined entity, delivering strong adjusted EPS of $2.39, robust organic loan and deposit growth, and sound credit quality and capital ratios.

• Added 50 experienced revenue producers in Q1, up 22% sequentially, with continued hiring momentum into April and the second quarter.

• Recognized for culture and client service, ranking #12 on Fortune 100 Best Companies to Work For and joining the KBW Nasdaq Bank Index.

• Significant impacts from purchase accounting and $275 million in merger-related expenses in Q1.

Financial highlights

• Net income available to common shareholders was $135 million ($0.89 per diluted share); adjusted net income was $363 million ($2.39 per share).

• Net interest income reached $933 million, a 156% year-over-year increase, with net interest margin expanding to 3.53%.

• Non-interest revenue was $284 million; adjusted non-interest revenue grew over 20% year-over-year, driven by core banking, wealth management, and capital markets.

• Non-interest expense totaled $952 million, including $275 million in merger-related charges; adjusted non-interest expense was $677 million.

• Loans, net of deferred fees and costs, grew to $85.2 billion, up $46.0 billion from December 31, 2025, primarily due to the merger; deposits increased to $100.1 billion, up $52.7 billion sequentially.

Outlook and guidance

• 2026 outlook unchanged: period-end loan growth of 9–11% and deposit growth of 8–10% versus year-end 2025, with adjusted revenue guidance of $5.0–$5.2 billion and net interest margin expected at ~3.5%.

• Adjusted non-interest expense guidance of $2.675–$2.775 billion, with $100 million in merger-related savings expected in 2026.

• Net charge-offs expected at 20–25 bps for the full year; CET1 ratio target of 10.25–10.75% by year-end.

• Focus remains on organic growth, capital support, and realization of merger synergies.