Synovus Financial (SNV) Goldman Sachs U.S. Financial Services Conference summary

Merger strategy and integration

• Announced a transformational merger, with regulatory approval received and closing targeted for early next year.

• Decided early to use the Pinnacle model and brand, streamlining integration and execution.

• Chose a single long-term CEO to avoid value destruction and ensure leadership clarity.

• Selected FIS as the core systems platform to minimize conversion risk.

• Addressed investor concerns by emphasizing pre-merger planning and clear go-to-market strategy.

Growth targets and business model

• Projecting 9%-11% loan and deposit growth for 2026, driven by both organic growth and recruiting.

• Pinnacle's historical CAGR is 12%, Synovus aims to step up from 4%-5% to 8% to meet combined targets.

• Revenue synergies of $100-$130 million expected over 2-3 years, embedded in 2026 guidance.

• Growth to be fueled by hiring 500 incremental revenue producers over two years, focusing on experienced bankers.

• Expansion opportunities identified in Atlanta, Orlando, Tampa, South Florida, Richmond, D.C., and Virginia.

Culture, talent, and retention

• Both banks emphasize a best-place-to-work culture, with high team member engagement and client loyalty scores.

• Pinnacle's hiring model focuses on continuous recruitment of experienced bankers with strong books of business.

• Low historical attrition rates; leadership confident in retaining talent post-merger.

• Succession planning underway for key roles, with a deep internal talent bench.

• Anti-big bank culture to be maintained, aiming for scale without bureaucracy.