Synovus Financial Acquired by Pinnacle Financial Partners | Financial Services M&A Deal

Pinnacle Financial Partners has completed the acquisition of Synovus Financial, a banking business in AL, for $134.7 million. Synovus Financial operates retail and commercial banking services across Alabama and the Southeast, and Pinnacle Financial Partners acquisitions aim to expand customer relationships and revenue-generating banker capacity. Following the merger acquisition, Pinnacle Financial Partners hired a net 50 new revenue-producing bankers in the first quarter and added additional recruits early in the second quarter to support growth in AL acquisitions. The strategic acquisition is part of financial services M&A and financial services deals, with Pinnacle Financial Partners formed through a merger of equals on Jan. 1 and the closed deal valued at $122.8 billion.