Pinnacle Financial Partners (PNFP) Q4 2025 earnings summary

Executive summary

• Merger with Synovus completed January 1, 2026, creating a leading regional bank with a focus on above-peer revenue, EPS, and tangible book value growth, supported by a robust operating and recruiting model.

• Both legacy firms delivered strong 2025 results: Pinnacle grew adjusted diluted EPS by 22%, Synovus by 28%.

• Maintained high client satisfaction and employee engagement, with top Net Promoter Scores and high workplace rankings.

• Integration is on schedule, with unified culture and operating model driving momentum and talent attraction.

Financial highlights

• Q4 2025 adjusted diluted EPS was $2.24 (down 1% QoQ, up 18% YoY); GAAP diluted EPS was $2.13 (down 3% QoQ, up 12% YoY); net interest income up 3% QoQ and 12% YoY; net income available to common shareholders was $166.0M.

• Full-year 2025 adjusted diluted EPS was $8.37 (up 22% YoY); GAAP diluted EPS was $8.07 (up 35% YoY); net income was $626.7M.

• Pinnacle period-end loans up 3% QoQ, 10% YoY; core deposits up 3% QoQ, 10% YoY; NIM at 3.27%.

• Non-interest revenue for Q4 2025 was $134.8M, up 21% YoY; adjusted non-interest revenue was $138.87M, up 25% YoY.

• Both firms reported healthy credit metrics and capital levels; Pinnacle CET1 at 10.88%, Synovus at 11.28%.

Outlook and guidance

• 2026 period-end loan growth targeted at 9%-11% ($91-$93B); deposit growth at 8%-10% ($106.5-$108.5B); stable deposit mix.

• Adjusted revenue outlook: $5-$5.2B; adjusted non-interest expense: $2.675-$2.8B; non-interest revenue: ~$1.1B.

• Net interest margin expected in 3.45%-3.55% range, factoring in purchase accounting and rate cuts.

• Net charge-offs estimated at 20-25 bps for 2026; CET1 ratio targeted at 10.25%-10.75%.

• 40% of merger-related expense savings ($100M–$250M) to be realized in 2026.

• Quarterly dividend set at $0.50/share; $400M share repurchase program authorized, with buybacks likely deferred until late 2026.