Pinnacle Financial Partners and Synovus Financial agreed to merge in an $8.6 billion all-stock deal, creating a large regional bank in the southeastern United States with over $115 billion in combined assets. The exchange ratio values Synovus shares at $61.18 each, representing a 10% premium. Interest in bank mergers has grown under the Trump administration’s favorable regulatory stance.

Shares of Synovus fell 8.3% to $52 in extended trading, while Pinnacle dropped 6%. The deal terms include shareholders of both companies receiving stock in a newly formed parent entity, with Pinnacle shareholders owning 51.5% and Synovus shareholders holding 48.5% of the combined company. The deal is expected to close in the first quarter of 2026, pending regulatory and shareholder approvals.

Read more at Yahoo Finance: Pinnacle Financial Partners, Synovus Financial to merge in $8.6 billion deal