Anthony Elian

Catherine Mealor

Gary Tenner

Bernard Von Gizycki

Christopher Marinac

Jon Arfstrom

Michael Rose

Nicholas Holowko

Casey Haire

Ebrahim Poonawala

Jared David Shaw

Jared Shaw

Manan Gosalia

Stephen Scouten

Timur Braziler

Brandon King

John McDonald

Jon Rau

Samuel Varga

- Synovus (SNV) reported **Q3 2025 GAAP earnings per share of $1.33** and **adjusted earnings per share of $1.46**, marking a **19% year-over-year increase**.  **[0000018349_2187975_1]**  The **net interest margin expanded by 4 basis points sequentially to 3.41%**.  **[0000018349_2187975_2]** 
- The company provided updated **2025 guidance**, projecting **period-end loan growth of approximately 4.5%**, **adjusted revenue growth of 6.5%**, and **adjusted non-interest expense growth of 2.5%**.  **[0000018349_2187975_3]** 
- Integration efforts for the **merger with Pinnacle Financial Partners are progressing**, with the merger still expected to close in **Q1 2026**.  **[0000018349_2187975_1]**  The **pro forma Common Equity Tier 1 (CET1) ratio at closing is anticipated to be approximately 10.1%**.  **[0000018349_2187975_1]** **[0000018349_2187975_4]** 
- Credit trends remained healthy in Q3 2025, with **net charge-offs at $15 million or 14 basis points**, and the **preliminary CET1 ratio reached a historical high of 11.24%**.  **[0000018349_2187975_2]**

Synovus (SNV) Reports Strong Q3 2025 Earnings and Updates 2025 Guidance

- Synovus Financial Corp. reported **diluted earnings per share of $1.33** and **adjusted diluted earnings per share of $1.46** for the third quarter of 2025.  **[18349_0000018349-25-000118_snv_09302025xex991xfilingx.htm:0]** 
- The company experienced **net interest margin expansion** of **4 basis points** sequentially to **3.41%**, **non-interest revenue growth** of **13%** year-over-year, and improved credit trends with the non-performing asset ratio falling to **0.53%**.  **[18349_0000018349-25-000118_snv_09302025xex991xfilingx.htm:1]** 
- The merger with Pinnacle Financial Partners is anticipated to close in **Q1 2026**, with the pro forma Common Equity Tier 1 (CET1) ratio now estimated at approximately **10.1%** at closing.  **[18349_0000018349-25-000118_snv_09302025xex991xfilingx.htm:0]** **[18349_0000018349-25-000118_snv_09302025xex991xfilingx.htm:2]**  Merger-related expenses for the quarter were **$23.8 million**.  **[18349_0000018349-25-000118_snv_09302025xex991xfilingx.htm:1]**

Synovus Financial Corp. Announces Q3 2025 Earnings and Merger Update

- Synovus Financial Corp. and Pinnacle Financial Partners, Inc. are proposing a merger, with an investor presentation dated **August 27, 2025**.  **[18349_0001140361-25-033024_ef20052605_8k.htm:2]** 
- The proposed merger is expected to result in **21% 2027E EPS Accretion** and a **2.6 Year TBV Dilution Earnback**.  **[18349_0001140361-25-033024_ef20054640_ex99-1.htm:7]** 
- The combined company anticipates **~$250 Million** in non-interest expense synergies, with **50% realized in Year 1**, **75% in Year 2**, and **100% in Year 3**.  **[18349_0001140361-25-033024_ef20054640_ex99-1.htm:8]** 
- Key decisions for the combined entity include the technology stack being built on **Synovus’ highly-scalable FIS core platform**, and a board of directors split of **15 directors (8 Pinnacle and 7 Synovus)**.  **[18349_0001140361-25-033024_ef20054640_ex99-1.htm:7]** 
- Steel Newco Inc. filed a registration statement on Form S-4 with the SEC on **August 26, 2025**, to register shares for the proposed transaction.  **[18349_0001140361-25-033024_ef20054640_ex99-1.htm:4]** **[18349_0001140361-25-033024_ef20052605_8k.htm:7]**

Synovus and Pinnacle Announce Proposed Merger and Financial Impact

SYNOVUS FINANCIAL (SNV)