ピナクルファイナンシャルの適時開示・決算・その他

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

January 21, 2026

Date of Report

(Date of Earliest Event Reported)

Pinnacle Financial Partners, Inc.

(Exact Name of Registrant as Specified in its Charter)


Georgia	333-289866	39-3738880
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3400 Overton Park Drive, Atlanta, Georgia 30339

(Address of principal executive offices) (Zip Code)

(706) 641-6500

(Registrant’s telephone number, including area code)

__________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $1.00 Par Value	PNFP	New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A	PNFP - PrA	New York Stock Exchange
Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B	PNFP - PrB	New York Stock Exchange
Depositary Shares, each representing 1/40 interest in a Share of 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock Series C	PNFP - PrC	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02			Results of Operations and Financial Condition

			On January 21, 2026, Pinnacle Financial Partners, Inc. (the "Company") issued press releases announcing financial results for the three and twelve month periods ended December 31, 2025 for each of Synovus Financial Corp. ("Synovus") and Pinnacle Financial Partners, Inc, a Tennessee corporation ("Legacy Pinnacle"). Both Synovus and Legacy Pinnacle merged with and into the Company effective January 1, 2026 pursuant to the Agreement and Plan of Merger dated July 24, 2025 by and among Synovus, Legacy Pinnacle, and the Company.

			Pursuant to General Instruction F to Current Report on Form 8-K, the press releases are attached to this Current Report as Exhibit 99.1 and Exhibit 99.2 and only those portions of the press release related to the historical results of operations of Synovus and Legacy Pinnacle for the three and twelve month periods ended December 31, 2025 are incorporated into this Item 2.02 by reference. The information contained in this Item 2.02, including the information set forth in the press releases filed as Exhibit 99.1 and Exhibit 99.2 to, and incorporated in, this Current Report is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information in Exhibit 99.1 and Exhibit 99.2 furnished pursuant to this Item 2.02 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended (the "Securities Act"), or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.


Item 7.01			Regulation FD Disclosure

			On January 21, 2026, the Company made available the supplemental information (the "Supplemental Information") and slide presentation ("Slide Presentation") prepared for use with the press releases. The investor call and webcast will be held at 8:30 a.m., ET, on January 22, 2026.

			The information contained in this Item 7.01 of this Current Report, including the information set forth in the Supplemental Information and the Slide Presentation filed as Exhibit 99.3 to, and incorporated in, this Current Report, is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in Exhibit 99.3 furnished pursuant to this Item 7.01 shall not be incorporated by reference into any registration statement or other documents pursuant to the Securities Act or into any filing or other document pursuant to the Exchange Act except as otherwise expressly stated in any such filing.


Item 9.01	Financial Statements and Exhibits

	(d)	Exhibits

	Exhibit No.	Description

	99.1	Synovus press release dated January 21, 2026

	99.2	Legacy Pinnacle press release dated January 21, 2026

	99.3	Slide presentation prepared for use with the press releases

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Pinnacle Financial Partners, Inc. has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			PINNACLE FINANCIAL PARTNERS, INC.

Date: January 21, 2026			By: /s/ Allan E. Kamensky
			Name: Allan E. Kamensky
			Title: Executive Vice President and Chief Legal Officer

EX-99.1 2 snv_ex991x12312025newsrele.htm EX-99.1 Document

Exhibit 99.1


Media Contact						Investor Contact
Audria Belton						Jennifer H. Demba, CFA
Media Relations						Investor Relations
media@synovus.com						investorrelations@synovus.com

Synovus announces earnings for the fourth quarter 2025

Diluted earnings per share of $1.22 vs. $1.25 in 4Q24

Adjusted diluted earnings per share of $1.45 vs. $1.25 in 4Q24

Surrender of $220 million of lower-yielding BOLI policies reduced 4Q25 diluted EPS by $0.10

COLUMBUS, Ga., Jan. 21, 2026 - Pinnacle Financial Partners, Inc. (NYSE: PNFP) today reported financial results for Synovus Financial Corp. ("Synovus" or "legacy Synovus") for the quarter and year ended Dec. 31, 2025.

“Pinnacle and Synovus both delivered strong results in 2025, demonstrating our commitment to growth amid the pending merger”, said Pinnacle President and CEO Kevin Blair. “Legacy Pinnacle grew diluted EPS by 35% and adjusted diluted EPS by 22%, while legacy Synovus achieved increases of 76% and 28%, respectively. These outcomes reflect our team’s engagement, client focus and dedication to delivering value for shareholders. This momentum positions us for continued success in 2026 and strengthens our capacity to unify both organizations, building on similar legacies and shared values. Both firms prioritize client service, with legacy Pinnacle earning the No. 1 Net Promoter Score in our footprint and legacy Synovus earning No. 3. Pinnacle’s proven operating model remains the foundation of our growth, while Synovus brings extensive expertise, broad reach and operational excellence. Together, we’ll build a bank that combines scale with a clear purpose.”

Pinnacle and Synovus Merger

The merger of Pinnacle Financial Partners, Inc. (which we may refer to as “legacy Pinnacle”) and Synovus closed on Jan. 1, 2026. The combination creates one of the leading regional banks in the industry, positioned for accelerated growth by marrying the cultures of both banks with Pinnacle’s proven recruiting model and incentive structures and Synovus’ deep talent and capabilities. Integration teams have been working closely together to build the blueprint for Pinnacle’s future. While bankers continue to serve clients and recruit top talent with little to no disruption, others will work behind the scenes to execute as seamless an integration effort as possible. Systems and brand conversions are expected in March 2027. Throughout, the primary goal will be to enhance our client’s experience.

Synovus Financial Performance - Fourth Quarter 2025 Highlights

•EPS was $1.22 per diluted share, down 8% sequentially, and down 2% from the fourth quarter 2024. Adjusted diluted earnings per share in the fourth quarter 2025 was $1.45, essentially stable from the third quarter 2025, and up 16% year over year.

•Synovus surrendered $220 million of lower-yielding bank-owned life insurance policies, with the proceeds expected to be redeployed into high quality liquid assets at higher yields. This action reduced fourth quarter 2025 diluted EPS by $14.2 million, or $0.10 per share.

•Pre-provision net revenue of $280.1 million increased $13.4 million, or 5%, sequentially and was up $8.8 million, or 3%, compared to the fourth quarter 2024.

•Net interest income rose $9.9 million, or 2%, compared to the prior quarter and was up $29.6 million, or 7%, compared to the fourth quarter 2024. The net interest margin expanded 4 basis points from the third quarter 2025, supported by various factors including continued fixed asset rate repricing and the funding benefits of core deposit growth.

•Period-end loans rose $872.4 million, or 2%, from the third quarter 2025, driven by growth in middle market, corporate and investment banking and specialty lending. Core deposits, which excludes brokered deposits, increased $894.8 million, or 2%, sequentially. Total deposits ended the quarter at $51.32 billion, an increase of $1.32 billion or 3% sequentially, as a result of a focus on deposit production and public funds and middle market account seasonality.

•Non-interest revenue of $145.1 million rose 3% from the third quarter 2025 and increased $19.5 million, or 16%, compared to the fourth quarter 2024. Adjusted non-interest revenue of $144.3 million grew $7.9 million, or 6%, sequentially and rose $19.6 million, or 16%, compared to the fourth quarter 2024. Core banking fees, capital markets revenue and wealth income drove sequential and year-over-year growth.

•Non-interest expense of $349.6 million remained relatively stable, only increasing by $865 thousand sequentially. Adjusted non-interest expense rose 2% from the third quarter to $326.0 million. Compared to fourth quarter 2024, non-interest expense increased 13%, and adjusted non-interest expense rose 5%. Sequential non-interest expense growth was impacted by an increase in incentives and charitable donations which more than offset a FDIC special assessment reversal.

•Credit quality remains healthy. The non-performing loan ratio was 0.57%, the annualized net charge-off ratio for the fourth quarter 2025 was 0.22%, and total past dues were 0.14% of total loans outstanding. Provision for credit losses was $33.0 million, up $11.3 million sequentially and relatively stable compared to $32.9 million in the fourth quarter 2024. The allowance for credit losses ratio (to loans) of 1.19% was stable compared to the third quarter 2025.

•The Common Equity Tier 1 ratio1 increased 6 basis points from the third quarter to 11.28%, as Synovus prepared the balance sheet for the merger with Pinnacle, which closed on January 1, 2026.

Synovus Financial Performance - 2025 Highlights

•Net income available to common shareholders for 2025 was $746.7 million, or $5.33 per diluted share, compared to $439.6 million, or $3.03 per diluted share in 2024. Adjusted EPS was $5.69 per diluted share compared to $4.43 per diluted share in 2024. Growth was primary attributable to higher revenue and lower provision for credit losses.

•Pre-provision net revenue was $1.09 billion in 2025 compared to $741.6 million in 2024, largely due to growth in net interest income and non-interest revenue.

•Net interest income was $1.87 billion in 2025, up from $1.75 billion in the prior year as a result of earning asset growth and net interest margin expansion.

•Period-end loans increased $2.02 billion, or 5%, in 2025, primarily from growth in specialty and corporate and investment banking lending. Period-end deposits were relatively stable, increasing by $228.6 million, driven by growth in brokered, money market, and interest-bearing demand deposits, partially offset by lower time deposits. Net interest margin expansion was primarily a result of deposit cost improvement.

•Non-interest revenue was $536.4 million, up 124% from 2024, primarily due to a $256.7 million securities loss in the second quarter 2024. Adjusted non-interest revenue of $528.8 million grew 8% in 2025, largely driven by treasury management fees, capital markets income and wealth revenue.

•Non-interest expense was $1.32 billion in 2025, up 6% from 2024, impacted primarily by merger expense, headcount additions, merit increases, and higher incentives, partially offset by reversals related to the FDIC special assessment, while adjusted non-interest expense increased 3% year over year to $1.27 billion.

•Credit quality remains healthy. Net charge-offs were 0.18% of average loans compared to 0.31% in 2024. The provision for credit losses declined to $68.9 million in 2025 compared to $136.7 million in the prior year. The allowance for credit losses ratio (to loans) ended the year at 1.19% compared to 1.27% at the end of 2024.

•The year-end Common Equity Tier 1 ratio1 increased 44 basis points year over year to 11.28%.

1 Preliminary

Fourth Quarter 2025 Summary


	Reported									Adjusted
(dollars in thousands)	4Q25			3Q25			4Q24			4Q25			3Q25			4Q24
Net income available to common shareholders	$	171,054		$	185,590		$	178,848		$	202,551		$	203,930		$	178,331
Diluted earnings per share	1.22			1.33			1.25			1.45			1.46			1.25
Total revenue	629,671			615,392			580,580			630,459			612,794			581,054
Total loans	44,625,627			43,753,234			42,609,028			NA			NA			NA
Total deposits	51,323,922			50,003,729			51,095,359			NA			NA			NA
Return on avg assets (1)	1.18		%	1.30		%	1.25		%	1.39		%	1.42		%	1.25		%
Return on avg common equity(1)	12.62			14.36			14.75			14.94			15.78			14.71
Return on avg tangible common equity(1)	14.09			16.11			16.72			16.66			17.69			16.67
Net interest margin(2)	3.45		%	3.41		%	3.28		%	NA			NA			NA
Efficiency ratio-TE(2)(3)	55.38			56.51			53.15			51.29			51.83			52.69
NCO ratio-QTD	0.22			0.14			0.26			NA			NA			NA
NPA ratio	0.62			0.53			0.73			NA			NA			NA
CET1 ratio(4)	11.28			11.22			10.84			NA			NA			NA

(1) Annualized

(2) Taxable equivalent

(3) Adjusted tangible efficiency ratio

(4) Current period ratio preliminary

NA- not applicable

Balance Sheet


Loans*

(dollars in millions)	4Q25		3Q25		Linked Quarter Change		Linked Quarter % Change		4Q24		Year/Year Change		Year/Year % Change
Commercial & industrial	$	24,288.7	$	23,229.0	$	1,059.7	5	%	$	22,331.1	$	1,957.5	9	%
Commercial real estate	12,097.4		12,269.7		(172.3)		(1)		12,014.6		82.8		1
Consumer	8,239.6		8,254.5		(15.0)		—		8,263.3		(23.7)		—

Total loans	$	44,625.6	$	43,753.2	$	872.4	2	%	$	42,609.0	$	2,016.6	5	%

* Amounts may not total due to rounding


Deposits*

(dollars in millions)	4Q25		3Q25		Linked Quarter Change		Linked Quarter % Change		4Q24		Year/Year Change		Year/Year % Change
Non-interest-bearing DDA	$	10,706.0	$	10,707.8	$	(1.8)	—	%	$	10,974.6	$	(268.6)	(2)	%
Interest-bearing DDA	7,617.3		7,428.7		188.6		3		7,199.7		417.6		6
Money market	11,976.0		11,761.7		214.4		2		11,407.4		568.6		5
Savings	946.2		955.7		(9.5)		(1)		971.1		(24.9)		(3)
Public funds	7,885.5		7,350.3		535.2		7		7,987.5		(102.0)		(1)
Time deposits	6,741.3		6,773.4		(32.0)		—		7,679.9		(938.6)		(12)
Brokered deposits	5,451.6		5,026.2		425.4		8		4,875.2		576.4		12
Total deposits	$	51,323.9	$	50,003.7	$	1,320.2	3	%	$	51,095.4	$	228.6	—	%

* Amounts may not total due to rounding


Income Statement Summary*

(in thousands, except per share data)	4Q25			3Q25			Linked Quarter Change		Linked Quarter % Change		4Q24			Year/Year Change		Year/Year % Change
Net interest income	$	484,577		$	474,695		$	9,882	2	%	$	454,993		$	29,584	7	%
Non-interest revenue	145,094			140,697			4,397		3		125,587			19,507		16
Non-interest expense	349,594			348,729			865		—		309,311			40,283		13
Provision for (reversal of) credit losses	33,015			21,690			11,325		52		32,867			148		—
Income before taxes	$	247,062		$	244,973		$	2,089	1	%	$	238,402		$	8,660	4	%
Income tax expense	65,366			48,468			16,898		35		49,025			16,341		33
Net income	181,696			196,505			(14,809)		(8)		189,377			(7,681)		(4)
Less: Net income (loss) attributable to noncontrolling interest	(561)			(489)			(72)		(15)		(1,049)			488		47
Net income attributable to Synovus Financial Corp.	182,257			196,994			(14,737)		(7)		190,426			(8,169)		(4)
Less: Preferred stock dividends	11,203			11,404			(201)		(2)		11,578			(375)		(3)
Net income available to common shareholders	$	171,054		$	185,590		$	(14,536)	(8)	%	$	178,848		$	(7,794)	(4)	%
Weighted average common shares outstanding, diluted	139,733			139,612			121		—		142,694			(2,961)		(2)
Diluted earnings per share	$	1.22		$	1.33		$	(0.11)	(8)	%	$	1.25		$	(0.03)	(2)	%
Adjusted diluted earnings per share	$	1.45		$	1.46		$	(0.01)	(1)	%	$	1.25		$	0.20	16	%
Effective tax rate	26.46		%	19.79		%					20.56		%

* Amounts may not total due to rounding

NM - not meaningful

Conference Call To Discuss Pinnacle and Synovus' Fourth Quarter Results

Pinnacle Financial Partners, Inc. will host a webcast and conference call at 8:30 a.m. ET on Jan. 22, 2026, to discuss legacy Pinnacle and legacy Synovus' standalone fourth quarter 2025 results and other matters. To access the call for audio only, please call 1-888-506-0062. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at investors.pnfp.com. The replay will be archived for at least 12 months and will be available approximately one hour after the call.

Prior to consummation of the business combination transaction with legacy Pinnacle on Jan. 1, 2026, Synovus was a financial services company based in Columbus, Georgia, with $61 billion in assets. Synovus provided commercial and consumer banking and a full suite of specialized products and services, including wealth services, treasury management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. As of Dec. 31, 2025, Synovus had 244 branches in Georgia, Alabama, Florida, South Carolina and Tennessee.

Forward-Looking Statements

This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Pinnacle's use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,”

“predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Pinnacle's future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding the anticipated benefits and risks related to the recently-completed business combination with legacy Pinnacle, our future operating and financial performance; expectations on our intended strategies, initiatives, and other operational and execution goals; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Pinnacle to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Pinnacle's management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Pinnacle's ability to control or predict.

These forward-looking statements are based upon information presently known to management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024, under the captions “Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors” and in Synovus’ quarterly reports on Form 10-Q, current reports on Form 8-K and other filings and reports filed with the Securities and Exchange Commission. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.


Synovus

	INCOME STATEMENT DATA
	(Unaudited)	Years Ended
	(Dollars in thousands, except per share data)	December 31,


		2025			2024			% Change


	Interest income	$	3,116,167		$	3,193,589		(2)	%
	Interest expense	1,242,950			1,444,012			(14)


	Net interest income	1,873,217			1,749,577			7
	Provision for (reversal of) credit losses	68,871			136,685			(50)

	Net interest income after provision for credit losses	1,804,346			1,612,892			12


	Non-interest revenue:
	Service charges on deposit accounts	100,655			91,647			10
	Fiduciary and asset management fees	84,590			79,828			6
	Card fees	82,529			76,920			7
	Brokerage revenue	85,045			84,881			—
	Mortgage banking income	15,311			14,060			9
	Capital markets income	49,547			44,058			12
	Income from bank-owned life insurance	38,399			34,429			12
	Investment securities gains (losses), net	704			(256,660)			nm

	Other non-interest revenue	79,612			70,441			13

	Total non-interest revenue	536,392			239,604			124



	Non-interest expense:
	Salaries and other personnel expense	776,344			737,467			5
	Net occupancy, equipment, and software expense	195,785			187,451			4
	Third-party processing and other services	90,856			85,751			6
	Professional fees	47,066			46,089			2
	FDIC insurance and other regulatory fees	25,314			45,921			(45)
	Restructuring charges (reversals)	(2,305)			2,121			nm

	Merger-related expense	42,261			—			nm
	Other operating expenses	146,737			142,743			3

	Total non-interest expense	1,322,058			1,247,543			6



	Income before income taxes	1,018,680			604,953			68
	Income tax expense	228,488			125,502			82

	Net income	790,192			479,451			65

	Less: Net income (loss) attributable to noncontrolling interest	(1,788)			(3,009)			41

	Net income attributable to Synovus Financial Corp.	791,980			482,460			64

	Less: Preferred stock dividends	45,325			42,903			6

	Net income available to common shareholders	$	746,655		$	439,557		70	%

	Net income per common share, basic	$	5.36		$	3.05		76	%

	Net income per common share, diluted	5.33			3.03			76

	Cash dividends declared per common share	1.56			1.52			3

	Return on average assets	1.31		%	0.81		%	50	bps
	Return on average common equity	14.73			9.50			523

	Weighted average common shares outstanding, basic	139,296			144,164			(3)	%
	Weighted average common shares outstanding, diluted	140,149			144,998			(3)

	nm - not meaningful
	bps - basis points
	Amounts may not total due to rounding


Synovus

	INCOME STATEMENT DATA
	(Unaudited)

	(Dollars in thousands, except per share data)	2025												2024			Fourth Quarter

		Fourth Quarter			Third Quarter			Second Quarter			First Quarter			Fourth Quarter			'25 vs '24
																	% Change

	Interest income	$	782,641		$	795,119		$	771,642		$	766,765		$	799,130		(2)	%
	Interest expense	298,064			320,424			312,081			312,381			344,137			(13)


	Net interest income	484,577			474,695			459,561			454,384			454,993			7
	Provision for (reversal of) credit losses	33,015			21,690			3,245			10,921			32,867			—

	Net interest income after provision for credit losses	451,562			453,005			456,316			443,463			422,126			7


	Non-interest revenue:
	Service charges on deposit accounts	25,980			26,303			25,258			23,114			23,244			12
	Fiduciary and asset management fees	23,302			21,039			20,332			19,917			21,373			9
	Card fees	21,276			19,894			20,132			21,227			19,577			9
	Brokerage revenue	22,265			21,673			20,748			20,359			20,907			6
	Mortgage banking income	3,164			4,374			4,435			3,338			2,665			19
	Capital markets income	15,702			13,944			12,960			6,941			12,070			30
	Income from bank-owned life insurance	10,408			9,628			10,279			8,084			10,543			(1)
	Investment securities gains (losses), net	(1,038)			1,742			—			—			—			nm

	Other non-interest revenue	24,035			22,100			19,991			13,486			15,208			58

	Total non-interest revenue	145,094			140,697			134,135			116,466			125,587			16



	Non-interest expense:
	Salaries and other personnel expense	201,339			197,313			192,182			185,510			184,725			9
	Net occupancy, equipment, and software expense	49,455			49,089			48,589			48,652			47,251			5
	Third-party processing and other services	23,141			22,306			23,535			21,874			22,158			4
	Professional fees	13,783			13,307			10,197			9,779			11,949			15
	FDIC insurance and other regulatory fees	2,194			7,042			7,534			8,544			8,227			(73)
	Restructuring charges (reversals)	(338)			(747)			72			(1,292)			37			nm

	Merger-related expense	18,504			23,757			—			—			—			nm
	Other operating expenses	41,516			36,662			33,592			34,967			34,964			19

	Total non-interest expense	349,594			348,729			315,701			308,034			309,311			13



	Income before income taxes	247,062			244,973			274,750			251,895			238,402			4
	Income tax expense	65,366			48,468			57,631			57,023			49,025			33

	Net income	181,696			196,505			217,119			194,872			189,377			(4)

	Less: Net income (loss) attributable to noncontrolling interest	(561)			(489)			(596)			(142)			(1,049)			47

	Net income attributable to Synovus Financial Corp.	182,257			196,994			217,715			195,014			190,426			(4)

	Less: Preferred stock dividends	11,203			11,404			11,395			11,323			11,578			(3)

	Net income available to common shareholders	$	171,054		$	185,590		$	206,320		$	183,691		$	178,848		(4)

	Net income per common share, basic	$	1.23		$	1.34		$	1.49		$	1.31		$	1.26		(2)	%

	Net income per common share, diluted	1.22			1.33			1.48			1.30			1.25			(2)

	Cash dividends declared per common share	0.39			0.39			0.39			0.39			0.38			3

	Return on average assets *	1.18		%	1.30		%	1.46		%	1.32		%	1.25		%	(7)	bps
	Return on average common equity *	12.62			14.36			16.71			15.48			14.75			(213)

	Weighted average common shares outstanding, basic	138,832			138,803			138,891			140,684			141,555			(2)	%
	Weighted average common shares outstanding, diluted	139,733			139,612			139,502			141,775			142,694			(2)

	nm - not meaningful
	bps - basis points
	* - ratios are annualized
	Amounts may not total due to rounding


Synovus


	BALANCE SHEET DATA	December 31, 2025		September 30, 2025		December 31, 2024

	(Unaudited)

	(In thousands, except share data)

	ASSETS
	Interest-earning deposits with banks and other cash and cash equivalents	$	2,513,159	$	2,239,915	$	2,977,667


	Federal funds sold and securities purchased under resale agreements	24,546		34,292		16,320
	Cash, cash equivalents, and restricted cash	2,537,705		2,274,207		2,993,987

	Investment securities held to maturity	2,409,184		2,450,885		2,581,469

	Investment securities available for sale	7,411,072		7,575,468		7,551,018
	Loans held for sale ($36,593, $41,083 and $33,448 measured at fair value, respectively)	106,221		147,811		90,111

	Loans, net of deferred fees and costs	44,625,627		43,753,234		42,609,028
	Allowance for loan losses	(477,934)		(469,521)		(486,845)
	Loans, net	44,147,693		43,283,713		42,122,183

	Cash surrender value of bank-owned life insurance	941,448		1,156,297		1,139,988
	Premises, equipment, and software, net	377,940		376,013		383,724
	Goodwill	480,440		480,440		480,440
	Other intangible assets, net	23,809		26,436		34,318
	Other assets	2,923,325		2,713,905		2,856,406
	Total assets	$	61,358,837	$	60,485,175	$	60,233,644

	LIABILITIES AND SHAREHOLDERS' EQUITY
	Liabilities:
	Deposits:
	Non-interest-bearing deposits	$	11,201,939	$	11,053,423	$	11,596,119
	Interest-bearing deposits	40,121,983		38,950,306		39,499,240

	Total deposits	51,323,922		50,003,729		51,095,359

	Federal funds purchased and securities sold under repurchase agreements	48,848		62,467		131,728

	Long-term debt	2,456,442		3,008,195		1,733,109
	Other liabilities	1,516,218		1,571,580		2,007,197
	Total liabilities	55,345,430		54,645,971		54,967,393

	Shareholders' equity:
	Preferred stock – no par value. Authorized 100,000,000 shares; issued 22,000,000	537,145		537,145		537,145
	Common stock – $1.00 par value. Authorized 342,857,142 shares; issued 172,814,570, 172,734,160, and 172,185,507 respectively; outstanding 138,893,470, 138,813,060, and 141,165,908 respectively	172,815		172,734		172,186
	Additional paid-in capital	4,008,677		3,999,363		3,986,729
	Treasury stock, at cost – 33,921,100, 33,921,100, and 31,019,599 shares, respectively	(1,359,054)		(1,359,096)		(1,216,827)
	Accumulated other comprehensive income (loss), net	(628,261)		(676,797)		(970,765)
	Retained earnings	3,261,845		3,145,388		2,736,089
	Total Synovus Financial Corp. shareholders' equity	5,993,167		5,818,737		5,244,557
	Noncontrolling interest in subsidiary	20,240		20,467		21,694
	Total equity	6,013,407		5,839,204		5,266,251
	Total liabilities and shareholders' equity	$	61,358,837	$	60,485,175	$	60,233,644


Synovus
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	2025						2024
(dollars in thousands)	Average Balance		Interest		Yield/ Rate		Average Balance		Interest		Yield/ Rate
Assets
Interest earning assets:
Commercial loans (1) (2)	$	34,807,591	$	2,227,483	6.40	%	$	34,708,207	$	2,339,075	6.74	%
Consumer loans (1)	8,256,440		432,796		5.23		8,336,996		436,188		5.23
Less: Allowance for loan losses	(470,524)		—		—		(484,142)		—		—
Loans, net	42,593,507		2,660,279		6.25		42,561,061		2,775,263		6.52
Total investment securities (3)	10,548,772		367,544		3.48		10,641,008		329,478		3.10
Interest-earning deposits with other banks	1,905,873		80,518		4.17		1,564,556		79,713		5.02
Federal funds sold and securities purchased under resale agreements	25,157		727		2.85		28,544		998		3.44
Mortgage loans held for sale	32,466		2,051		6.32		33,125		2,293		6.92
Other loans held for sale	86,690		2,027		2.31		68,098		1,386		2.00
Other earning assets (4)	205,721		9,628		4.68		190,442		9,943		5.23
Total interest earning assets	55,398,186		$	3,122,774	5.64	%	55,086,834		$	3,199,074	5.81	%
Cash and due from banks	541,407						511,152
Premises and equipment	380,529						377,386
Cash surrender value of bank-owned life insurance	1,149,478						1,125,363
Other assets (5)	2,627,690						2,307,582
Total assets	$	60,097,290					$	59,408,317
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	11,581,753	$	249,674	2.16	%	$	10,879,231	$	273,480	2.51	%
Money market accounts	14,209,490		380,369		2.68		13,069,507		408,087		3.12
Savings deposits	980,254		1,421		0.14		1,021,838		1,262		0.12
Time deposits	7,423,127		258,491		3.48		8,244,344		358,401		4.35
Brokered deposits	4,949,882		219,068		4.43		5,426,407		288,702		5.32
Federal funds purchased and securities sold under repurchase agreements	67,736		774		1.13		109,088		1,909		1.72
Other short-term borrowings	—		—		—		45,489		2,514		5.44
Long-term debt	2,173,586		133,153		6.11		1,607,048		109,657		6.80
Total interest-bearing liabilities	41,385,828		$	1,242,950	3.00	%	40,402,952		$	1,444,012	3.57	%
Non-interest-bearing demand deposits	11,388,003						11,904,120
Other liabilities	1,696,451						1,911,827
Total equity	5,627,008						5,189,418
Total liabilities and shareholders' equity	$	60,097,290					$	59,408,317
Net interest income, taxable equivalent net interest margin (6)			$	1,879,824	3.39	%			$	1,755,062	3.19	%
Less: taxable-equivalent adjustment			6,607						5,485
Net interest income			$	1,873,217					$	1,749,577

(1)Average loans are shown net of unearned income. NPLs are included. Interest income includes fees as follows: 2025 — $50.7 million and 2024 — $49.4 million.

(2)Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans to a taxable-equivalent basis.

(3)Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.

(4)Includes trading account assets and FHLB and Federal Reserve Bank stock.

(5)Includes average net unrealized gains/(losses) on investment securities available for sale of $(369.8) million and $(724.8) million for the years ended December 31, 2025 and 2024, respectively.

(6)The net interest margin is calculated by dividing net interest income - TE by average total interest earning assets.


Synovus
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	Fourth Quarter 2025						Third Quarter 2025						Fourth Quarter 2024
(dollars in thousands)	Average Balance		Interest		Yield/ Rate		Average Balance		Interest		Yield/ Rate		Average Balance		Interest		Yield/ Rate
Assets
Interest earning assets:
Commercial loans (1) (2)	$	35,372,195	$	560,813	6.29	%	$	35,041,225	$	572,417	6.48	%	$	34,278,042	$	569,759	6.61	%
Consumer loans (1)	8,244,603		107,987		5.21		8,258,139		109,760		5.29		8,258,712		107,507		5.19
Less: Allowance for loan losses	(463,611)		—		—		(464,057)		—		—		(479,980)		—		—
Loans, net	43,153,187		668,800		6.15		42,835,307		682,177		6.32		42,056,774		677,266		6.41
Total investment securities (3)	10,213,678		89,032		3.49		10,494,221		91,440		3.49		10,623,943		91,038		3.43
Interest-earning deposits with other banks	2,241,149		22,152		3.86		1,796,065		19,668		4.29		2,437,414		28,726		4.61
Federal funds sold and securities purchased under resale agreements	25,946		169		2.55		24,695		208		3.30		21,177		210		3.88
Mortgage loans held for sale	33,107		536		6.47		33,468		561		6.70		30,483		520		6.83
Other loans held for sale	92,796		549		2.32		96,203		577		2.35		74,019		404		2.13
Other earning assets (4)	219,339		3,035		5.53		227,966		2,224		3.90		178,676		2,396		5.37
Total interest earning assets	55,979,202		$	784,273	5.56	%	55,507,925		$	796,855	5.70	%	55,422,486		$	800,560	5.75	%
Cash and due from banks	647,400						555,477						512,178
Premises and equipment	377,447						379,240						382,784
Other real estate	22,455						15,143						386
Cash surrender value of bank-owned life insurance	1,155,266						1,151,651						1,135,952
Other assets (5)	2,657,727						2,476,116						2,720,830
Total assets	$	60,839,497					$	60,085,552					$	60,174,616
Liabilities and Shareholders' Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	11,854,688	$	60,173	2.01	%	$	11,324,747	$	63,034	2.21	%	$	11,298,352	$	67,470	2.38	%
Money market accounts	14,302,985		89,499		2.48		14,306,362		99,698		2.76		13,768,434		101,063		2.92
Savings deposits	955,018		371		0.15		978,165		375		0.15		986,522		316		0.13
Time deposits	7,566,180		64,247		3.37		7,147,913		61,142		3.39		8,251,686		85,426		4.12
Brokered deposits	5,071,443		52,576		4.11		5,059,127		57,274		4.49		5,012,655		61,924		4.90
Federal funds purchased and securities sold under repurchase agreements	59,747		147		0.96		73,507		233		1.24		113,681		322		1.11

Long-term debt	2,134,141		31,051		5.79		2,665,975		38,668		5.75		1,613,246		27,616		6.84
Total interest-bearing liabilities	41,944,202		$	298,064	2.82	%	41,555,796		$	320,424	3.06	%	41,044,576		$	344,137	3.34	%
Non-interest-bearing demand deposits	11,419,711						11,340,508						11,783,834
Other liabilities	1,540,986						1,504,367						1,963,298
Total equity	5,934,598						5,684,881						5,382,908
Total liabilities and shareholders' equity	$	60,839,497					$	60,085,552					$	60,174,616
Net interest income, taxable equivalent net interest margin (6)			$	486,209	3.45	%			$	476,431	3.41	%			$	456,423	3.28	%
Less: taxable-equivalent adjustment			1,632						1,736						1,430
Net interest income			$	484,577					$	474,695					$	454,993

(1)Average loans are shown net of deferred fees and costs. NPLs are included. Interest income includes fees as follows: Fourth Quarter 2025 — $13.2 million, Third Quarter 2025 — $12.7 million, and Fourth Quarter 2024 —$13.7 million.

(2)Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans to a taxable-equivalent basis.

(3)Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.

(4)Includes trading account assets and FHLB and Federal Reserve Bank stock.

(5)Includes average net unrealized gains/(losses) on investment securities available for sale of $(263.1) million, $(350.4) million, and $(391.6) million for the Fourth Quarter 2025, Third Quarter 2025, and Fourth Quarter 2024, respectively.

(6)The net interest margin is calculated by dividing annualized net interest income - TE by average total interest earning assets.


Synovus
LOANS OUTSTANDING BY TYPE
(Unaudited)
(Dollars in thousands)
	Total Loans		Total Loans		Linked Quarter		Total Loans		Year/Year
Loan Type	December 31, 2025		September 30, 2025		% Change		December 31, 2024		% Change
Commercial, Financial, and Agricultural	$	16,174,745	$	15,360,223	5	%	$	14,498,992	12	%
Owner-Occupied	8,113,919		7,868,746		3		7,832,137		4
Total Commercial & Industrial	24,288,664		23,228,969		5		22,331,129		9

Multi-Family	3,827,474		4,184,821		(9)		4,185,545		(9)
Hotels	1,933,245		1,804,352		7		1,769,384		9
Office Buildings	1,627,336		1,617,937		1		1,743,329		(7)
Shopping Centers	1,482,535		1,392,004		7		1,273,439		16
Warehouses	961,228		960,604		—		846,025		14
Other Investment Property	1,448,104		1,502,389		(4)		1,363,482		6
Total Investment Properties	11,279,922		11,462,107		(2)		11,181,204		1

1-4 Family Construction	216,392		218,582		(1)		212,226		2
1-4 Family Investment Mortgage	325,786		329,745		(1)		333,692		(2)
Total 1-4 Family Properties	542,178		548,327		(1)		545,918		(1)

Commercial Development	64,718		58,447		11		55,467		17
Residential Development	98,803		79,943		24		77,581		27
Land Acquisition	111,774		120,916		(8)		154,449		(28)
Land and Development	275,295		259,306		6		287,497		(4)

Total Commercial Real Estate	12,097,395		12,269,740		(1)		12,014,619		1

Consumer Mortgages	5,212,860		5,237,683		—		5,288,776		(1)
Home Equity Lines	1,844,991		1,842,126		—		1,831,287		1
Credit Cards	185,828		176,367		5		185,871		—
Other Consumer Loans	995,889		998,349		—		957,346		4
Total Consumer	8,239,568		8,254,525		—		8,263,280		—

Total	$	44,625,627	$	43,753,234	2	%	$	42,609,028	5	%




NON-PERFORMING LOANS COMPOSITION
(Unaudited)
(Dollars in thousands)
	Total Non-performing Loans		Total Non-performing Loans		Linked Quarter		Total Non-performing Loans		Year/Year
Loan Type	December 31, 2025		September 30, 2025		% Change		December 31, 2024		% Change
Commercial, Financial, and Agricultural	$	125,295	$	89,095	41	%	$	122,874	2	%
Owner-Occupied	26,197		9,777		168		34,380		(24)
Total Commercial & Industrial	151,492		98,872		53		157,254		(4)

Multi-Family	113		114		(1)		112		1
Office Buildings	33,523		33,439		—		72,430		(54)
Shopping Centers	1,496		1,534		(2)		515		190
Warehouses	114		120		(5)		153		(25)
Other Investment Property	422		604		(30)		820		(49)
Total Investment Properties	35,668		35,811		—		74,030		(52)

1-4 Family Construction	750		—		nm		—		nm
1-4 Family Investment Mortgage	2,010		2,144		(6)		2,385		(16)
Total 1-4 Family Properties	2,760		2,144		29		2,385		16

Commercial Development	46		46		—		—		nm

Land Acquisition	136		666		(80)		1,389		(90)
Land and Development	182		712		(74)		1,389		(87)

Total Commercial Real Estate	38,610		38,667		—		77,804		(50)

Consumer Mortgages	46,972		44,993		4		50,834		(8)
Home Equity Lines	13,187		20,800		(37)		17,365		(24)
Other Consumer Loans	5,996		5,995		—		5,907		2
Total Consumer	66,155		71,788		(8)		74,106		(11)

Total	$	256,257	$	209,327	22	%	$	309,164	(17)	%


Synovus

	CREDIT QUALITY DATA
	(Unaudited)
	(Dollars in thousands)	2025												2024			Fourth Quarter

		Fourth			Third			Second			First			Fourth			'25 vs '24
		Quarter			Quarter			Quarter			Quarter			Quarter			% Change

	Non-performing Loans (NPL)	$	256,257		$	209,327		$	257,415		$	286,629		$	309,164		(17)	%

	Other Real Estate and Other Assets	22,306			22,395			1,198			563			385			nm

	Non-performing Assets (NPAs)	$	278,563		$	231,722		$	258,613		$	287,192		$	309,549		(10)

	Allowance for Loan Losses (ALL)	$	477,934		$	469,521		$	464,831		$	478,207		$	486,845		(2)
	Reserve for Unfunded Commitments	51,536			50,748			48,975			50,655			52,462			(2)

	Allowance for Credit Losses (ACL)	$	529,470		$	520,269		$	513,806		$	528,862		$	539,307		(2)

	Net Charge-Offs - Quarter	23,815			15,227			18,301			21,366			28,101
	Net Charge-Offs - YTD	78,708			54,893			39,667			21,366			133,994
	Net Charge-Offs / Average Loans - Quarter (1)	0.22		%	0.14		%	0.17		%	0.20		%	0.26		%
	Net Charge-Offs / Average Loans - YTD (1)	0.18			0.17			0.19			0.20			0.31
	NPLs / Loans	0.57			0.48			0.59			0.67			0.73
	NPAs / Loans, ORE and specific other assets	0.62			0.53			0.59			0.67			0.73
	ACL/Loans	1.19			1.19			1.18			1.24			1.27
	ALL/Loans	1.07			1.07			1.07			1.12			1.14

	ACL/NPLs	206.62			248.54			199.60			184.51			174.44
	ALL/NPLs	186.51			224.30			180.58			166.84			157.47

	Past Due Loans over 90 days and Still Accruing	$	4,281		$	3,801		$	40,065		$	40,886		$	48,592		(91)
	As a Percentage of Loans Outstanding	0.01		%	0.01		%	0.09		%	0.10		%	0.11		%

	Total Past Due Loans and Still Accruing	$	62,704		$	44,183		$	104,267		$	93,493		$	108,878		(42)
	As a Percentage of Loans Outstanding	0.14		%	0.10		%	0.24		%	0.22		%	0.26		%




	(1) Ratio is annualized.
	Amounts may not total due to rounding


	SELECTED CAPITAL INFORMATION (1)
	(Unaudited)
	(Dollars in thousands)
		December 31, 2025			September 30, 2025			December 31, 2024




	Common Equity Tier 1 Capital Ratio	11.28		%	11.22		%	10.84		%
	Tier 1 Capital Ratio	12.36			12.33			11.96
	Total Risk-Based Capital Ratio	14.68			14.05			13.81
	Tier 1 Leverage Ratio	10.12			10.02			9.55
	Total Synovus Financial Corp. shareholders’ equity as a Percentage of Total Assets	9.77			9.62			8.71
	Tangible Common Equity Ratio(2)	8.14			7.96			7.02
	Book Value Per Common Share(3)	$	39.28		38.05			33.35
	Tangible Book Value Per Common Share(2)(4)	35.65			34.40			29.70


	(1) Current quarter regulatory capital information is preliminary.
	(2) See "Non-GAAP Financial Measures" for applicable reconciliation.
	(3) Book Value Per Common Share consists of Total Synovus Financial Corp. shareholders' equity less Preferred Stock divided by total common shares outstanding.
	(4) Tangible Book Value Per Common Share consists of Total Synovus Financial Corp. shareholders' equity less Preferred Stock and less the carrying value of goodwill and other intangible assets divided by total common shares outstanding.

Non-GAAP Financial Measures

The measures entitled adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted non-interest revenue, adjusted non-interest expense; adjusted revenue taxable equivalent (TE); adjusted tangible efficiency ratio; adjusted pre-provision net revenue (PPNR); adjusted return on average assets; adjusted return on average common equity; return on average tangible common equity; adjusted return on average tangible common equity; tangible common equity ratio; and tangible book value per common share are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; total non-interest revenue; total non-interest expense; total revenue; efficiency ratio-TE; PPNR; return on average assets; return on average common equity; the ratio of total Synovus Financial Corp. shareholders' equity to total assets; and book value per common share, respectively.

Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus’ operating results, financial strength, the performance of its business, and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share, adjusted return on average assets, and adjusted return on average common equity are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Adjusted non-interest revenue and adjusted revenue (TE) are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on non-qualified deferred compensation and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus’ performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted PPNR is used by management to evaluate PPNR exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons. The tangible common equity ratio is used by stakeholders to assess our capital position. Tangible book value per common share is used by stakeholders to assess our financial stability and value. The computations of these measures are set forth in the tables below.


Reconciliation of Non-GAAP Financial Measures

(in thousands, except per share data)	4Q25		3Q25		4Q24		2025		2024
Adjusted net income available to common shareholders and adjusted net income per common share, diluted
Net income available to common shareholders	$	171,054	$	185,590	$	178,848	$	746,655	$	439,557


Valuation adjustment on GLOBALT earnout	(719)		—		(719)		(719)		(719)

Restructuring charges (reversals)	(338)		(747)		37		(2,305)		2,121
Valuation adjustment to Visa derivative	2,940		2,911		—		8,051		8,700
Loss (gain) on early extinguishment of debt	1,344		—		—		1,344		—


Investment securities (gains) losses, net	1,038		(1,742)		—		(704)		256,660

Merger-related expense(1)	18,504		23,757		—		42,261		—
Tax on surrender of bank-owned life insurance policies	14,227		—		—		14,227		—
Tax effect of adjustments(2)	(5,499)		(5,839)		165		(11,575)		(64,423)
Adjusted net income available to common shareholders	$	202,551	$	203,930	$	178,331	$	797,235	$	641,896
Weighted average common shares outstanding, diluted	139,733		139,612		142,694		140,149		144,998
Net income per common share, diluted	$	1.22	$	1.33	$	1.25	$	5.33	$	3.03
Adjusted net income per common share, diluted	1.45		1.46		1.25		5.69		4.43
(1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected.
(2) An assumed marginal tax rate of 24.2% was applied.




(dollars in thousands)	4Q25		3Q25		4Q24		2025		2024
Adjusted non-interest revenue
Total non-interest revenue	$	145,094	$	140,697	$	125,587	$	536,392	$	239,604
Valuation adjustment on GLOBALT earnout	(719)		—		(719)		(719)		(719)


Investment securities (gains) losses, net	1,038		(1,742)		—		(704)		256,660

Fair value adjustment on non-qualified deferred compensation	(1,163)		(2,592)		(237)		(6,214)		(5,159)
Adjusted non-interest revenue	$	144,250	$	136,363	$	124,631	$	528,755	$	490,386

Adjusted non-interest expense
Total non-interest expense	$	349,594	$	348,729	$	309,311	$	1,322,058	$	1,247,543
Merger-related expense	(18,504)		(23,757)		—		(42,261)		—



Restructuring (charges) reversals	338		747		(37)		2,305		(2,121)
Valuation adjustment to Visa derivative	(2,940)		(2,911)		—		(8,051)		(8,700)
(Loss) gain on early extinguishment of debt	(1,344)		—		—		(1,344)		—
Fair value adjustment on non-qualified deferred compensation	(1,163)		(2,592)		(237)		(6,214)		(5,159)
Adjusted non-interest expense	$	325,981	$	320,216	$	309,037	$	1,266,493	$	1,231,563


Reconciliation of Non-GAAP Financial Measures, continued

(dollars in thousands)	4Q25			3Q25			4Q24






















Adjusted revenue (TE) and adjusted tangible efficiency ratio
Adjusted non-interest expense	$	325,981		$	320,216		$	309,037
Amortization of intangibles	(2,627)			(2,627)			(2,888)
Adjusted tangible non-interest expense	$	323,354		$	317,589		$	306,149

Net interest income	$	484,577		$	474,695		$	454,993
Tax equivalent adjustment	1,632			1,736			1,430
Net interest income (TE)	$	486,209		$	476,431		$	456,423

Net interest income	$	484,577		$	474,695		$	454,993
Total non-interest revenue	145,094			140,697			125,587
Total revenue	629,671			615,392			580,580
Tax equivalent adjustment	1,632			1,736			1,430
Total TE revenue	$	631,303		$	617,128		$	582,010
Valuation adjustment on GLOBALT earnout	(719)			—			(719)


Investment securities (gains) losses, net	1,038			(1,742)			—

Fair value adjustment on non-qualified deferred compensation	(1,163)			(2,592)			(237)
Adjusted revenue (TE)	$	630,459		$	612,794		$	581,054
Efficiency ratio-(TE)	55.38		%	56.51		%	53.15		%
Adjusted tangible efficiency ratio	51.29			51.83			52.69

Adjusted pre-provision net revenue
Net interest income	$	484,577		$	474,695		$	454,993
Total non-interest revenue	145,094			140,697			125,587
Total non-interest expense	(349,594)			(348,729)			(309,311)
Pre-provision net revenue (PPNR)	$	280,077		$	266,663		$	271,269

Adjusted revenue (TE)	$	630,459		$	612,794		$	581,054
Adjusted non-interest expense	(325,981)			(320,216)			(309,037)
Adjusted PPNR	$	304,478		$	292,578		$	272,017


Reconciliation of Non-GAAP Financial Measures, continued
(dollars in thousands)	4Q25			3Q25			4Q24
Adjusted return on average assets (annualized)
Net income	$	181,696		$	196,505		$	189,377



Restructuring charges (reversals)	(338)			(747)			37
Valuation adjustment on GLOBALT earnout	(719)			—			(719)

Valuation adjustment to Visa derivative	2,940			2,911			—
Loss (gain) on early extinguishment of debt	1,344			—			—
Investment securities (gains) losses, net	1,038			(1,742)			—

Merger-related expense(1)	18,504			23,757			—
Tax on surrender of bank-owned life insurance policies	14,227			—			—
Tax effect of adjustments(2)	(5,499)			(5,839)			165
Adjusted net income	$	213,193		$	214,845		$	188,860
Net income annualized	$	720,859		$	779,612		$	753,391
Adjusted net income annualized	$	845,820		$	852,374		$	751,334
Total average assets	$	60,839,497		$	60,085,552		$	60,174,616
Return on average assets (annualized)	1.18		%	1.30		%	1.25		%
Adjusted return on average assets (annualized)	1.39			1.42			1.25






















(1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected.
(2) An assumed marginal tax rate of 24.2% was applied.


Reconciliation of Non-GAAP Financial Measures, continued
(dollars in thousands)	4Q25			3Q25			4Q24

Adjusted return on average common equity, return on average tangible common equity, and adjusted return on average tangible common equity (annualized)
Net income available to common shareholders	$	171,054		$	185,590		$	178,848



Restructuring charges (reversals)	(338)			(747)			37
Valuation adjustment on GLOBALT earnout	(719)			—			(719)

Valuation adjustment to Visa derivative	2,940			2,911			—
Loss (gain) on early extinguishment of debt	1,344			—			—
Investment securities (gains) losses, net	1,038			(1,742)			—

Merger-related expense(1)	18,504			23,757			—
Tax on surrender of bank-owned life insurance policies	14,227			—			—
Tax effect of adjustments(2)	(5,499)			(5,839)			165
Adjusted net income available to common shareholders	$	202,551		$	203,930		$	178,331

Adjusted net income available to common shareholders annualized	$	803,599		$	809,070		$	709,447
Amortization of intangibles, tax effected, annualized	7,905			7,907			8,715
Adjusted net income available to common shareholders excluding amortization of intangibles annualized	$	811,504		$	816,977		$	718,162

Net income available to common shareholders annualized	$	678,638		$	736,308		$	711,504
Amortization of intangibles, tax effected, annualized	7,905			7,907			8,715
Net income available to common shareholders excluding amortization of intangibles annualized	$	686,543		$	744,215		$	720,219

Total average Synovus Financial Corp. shareholders' equity less preferred stock	$	5,377,147		$	5,127,084		$	4,824,003
Average goodwill	(480,440)			(480,440)			(480,440)
Average other intangible assets, net	(25,211)			(27,665)			(35,869)
Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock	$	4,871,496		$	4,618,979		$	4,307,694
Return on average common equity (annualized)	12.62		%	14.36		%	14.75		%
Adjusted return on average common equity (annualized)	14.94			15.78			14.71
Return on average tangible common equity (annualized)	14.09			16.11			16.72
Adjusted return on average tangible common equity (annualized)	16.66			17.69			16.67
(1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected.
(2) An assumed marginal tax rate of 24.2% was applied.


Reconciliation of Non-GAAP Financial Measures, continued
	December 31,			September 30,			December 31,
(dollars in thousands)	2025			2025			2024
Tangible common equity ratio and tangible book value per common share

Total assets	$	61,358,837		$	60,485,175		$	60,233,644
Goodwill	(480,440)			(480,440)			(480,440)
Other intangible assets, net	(23,809)			(26,436)			(34,318)
Tangible assets	$	60,854,588		$	59,978,299		$	59,718,886

Total Synovus Financial Corp. shareholders' equity	$	5,993,167		$	5,818,737		$	5,244,557
Goodwill	(480,440)			(480,440)			(480,440)
Other intangible assets, net	(23,809)			(26,436)			(34,318)
Preferred stock, no par value	(537,145)			(537,145)			(537,145)
Tangible common equity	$	4,951,773		$	4,774,716		$	4,192,654
Total Synovus Financial Corp. shareholders’ equity to total assets ratio	9.77		%	9.62		%	8.71		%
Tangible common equity ratio	8.14			7.96			7.02

Tangible common equity	$	4,951,773		$	4,774,716		$	4,192,654
Common shares outstanding	138,894			138,813			141,166
Book value per common share	$	39.28		$	38.05		$	33.35
Tangible book value per common share	35.65			34.40			29.70

EX-99.2 3 pnfp992_4q25pnfpearningsre.htm EX-99.2 Document

Exhibit 99.2

FOR IMMEDIATE RELEASE


			MEDIA:			Joe Bass, 615-743-8219
			INVESTOR RELATIONS:			Jennifer Demba, 404-364-2715
			WEBSITE:			www.pnfp.com

PNFP REPORTS 4Q25 DILUTED EPS OF $2.13 AND ADJUSTED DILUTED EPS OF $2.24

Loans, core deposits, revenues and diluted EPS all up double-digit percentages year-over-year

ATLANTA, GA, January 21, 2026 - Pinnacle Financial Partners, Inc. (NYSE: PNFP) reported net income per diluted common share of $2.13 for the quarter ended Dec. 31, 2025, for the business of legacy Pinnacle Financial Partners, Inc., compared to net income per diluted common share of $1.91 for the quarter ended Dec. 31, 2024, an increase of approximately 11.5 percent. Net income per diluted common share was $8.07 for the year ended Dec. 31, 2025, compared to net income per diluted common share of $5.96 for the year ended Dec. 31, 2024, an increase of approximately 35.4 percent.

After considering the adjustments noted in the table below, net income per diluted common share was $2.24 for the three months ended Dec. 31, 2025, compared to $1.90 for the three months ended Dec. 31, 2024, an increase of 17.9 percent. Net income per diluted common share, adjusted for the items noted in the table below, was $8.37 for the year ended Dec. 31, 2025, compared to net income per diluted common share of $6.89 for the year ended Dec. 31, 2024, an increase of approximately 21.5 percent.


	Three months ended			Year ended
	Dec. 31, 2025	Sept. 30, 2025	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Diluted earnings per common share	$ 2.13	$ 2.19	$ 1.91	$ 8.07	$ 5.96
Adjustments, net of tax (1):
Investment (gains) losses on sales of securities, net	0.04	—	(0.01)	0.16	0.70
Recognition of mortgage servicing asset	—	—	—	—	(0.12)
FDIC special assessment	(0.07)	—	—	(0.07)	0.07
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	—	—	—	0.28
Merger-related expenses	0.14	0.08	—	0.21	—
Diluted earnings per common share after adjustments	$ 2.24	$ 2.27	$ 1.90	$ 8.37	$ 6.89

Numbers may not foot due to rounding.

(1):Adjustments include tax effect calculated using a marginal tax rate of 25.00 percent for all periods presented.

"One of the most important measures of success for our recent merger with Synovus is our ability to sustain outsized growth momentum," said M. Terry Turner, Pinnacle's chairman and former chief executive officer. "Fourth quarter 2025 results are in and speak for themselves, with double-digit growth in loans, client deposits, revenue and adjusted earnings per share year-over-year. While much work was required to complete the merger so quickly, fourth quarter’s financial results actually represent accelerated growth rates when compared to quarterly growth rates in the first and second quarters of 2025, immediately prior to the deal announcement."

PINNACLE AND SYNOVUS MERGER

The merger of Pinnacle Financial Partners, Inc. (which we may refer to as "legacy Pinnacle" and Synovus Financial Corp. (which we may refer to as "Synovus" or "legacy Synovus") closed on January 1, 2026. The combination creates one of the leading regional banks in the industry, positioned for accelerated growth by marrying the cultures of both banks with Pinnacle’s proven recruiting model and incentive structures and Synovus’ deep talent and capabilities.

Integration teams have been working closely together to build the blueprint for Pinnacle’s future. While bankers continue to serve clients and recruit top talent with little to no disruption, others will work behind the scenes to execute as seamless an integration effort as possible. Systems and brand conversions are expected in March 2027. Throughout, the primary goal will be to enhance our client experience.

"Pinnacle and Synovus both delivered strong results in 2025, demonstrating our commitment to growth amid the pending merger," said Pinnacle President and CEO Kevin Blair. "Legacy Pinnacle grew diluted EPS by 35% and adjusted diluted EPS by 22%, while legacy Synovus achieved increases of 76% and 28%, respectively. These outcomes reflect our team’s engagement, client focus and dedication to delivering value for shareholders. This momentum positions us for continued success in 2026 and strengthens our capacity to unify both organizations, building on similar legacies and shared values. Both firms prioritize client service, with legacy Pinnacle earning the No. 1 Net Promoter Score in our footprint and legacy Synovus earning No. 3. Pinnacle’s proven operating model remains the foundation of our growth, while Synovus brings extensive expertise, broad reach and operational excellence. Together, we’ll build a bank that combines scale with a clear purpose."

PINNACLE'S BALANCE SHEET GROWTH AND LIQUIDITY:

Total assets at Dec. 31, 2025, were $57.7 billion, an increase of approximately $1.7 billion from Sept. 30, 2025, and $5.1 billion from Dec. 31, 2024, reflecting a linked-quarter annualized increase of 12.5 percent and a year-over-year increase of 9.7 percent. A further analysis of select balance sheet trends follows:


	Balances at		Linked-Quarter Annualized % Change	Balances at	Year-over-Year % Change
(dollars in thousands)	Dec. 31, 2025	Sept. 30, 2025		Dec. 31, 2024
Loans	$ 39,154,002	37,932,613	12.9%	35,485,776	10.3%
Securities	9,157,207	9,056,608	4.4%	8,381,268	9.3%
Other interest-earning assets	3,400,579	3,228,993	21.3%	3,377,381	0.7%
Total interest-earning assets	$ 51,711,788	$ 50,218,214	11.9%	$ 47,244,425	9.5%

Core deposits:
Noninterest-bearing deposits	$ 9,046,666	$ 8,952,978	4.2%	$ 8,170,448	10.7%
Interest-bearing core deposits(1)	32,880,864	31,860,709	12.8%	29,876,456	10.1%
Noncore deposits and other funding(2)	7,990,472	7,442,496	29.5%	7,326,287	9.1%
Total funding	$ 49,918,002	$ 48,256,183	13.8%	$ 45,373,191	10.0%

(1): Interest-bearing core deposits are interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits.

(2): Noncore deposits and other funding consists of time deposits greater than $250,000, securities sold under agreements to repurchase, public funds, brokered deposits, FHLB advances and subordinated debt.

"We are very pleased with loan growth for the fourth quarter and the momentum we have as a combined firm," said Turner. "Our fourth quarter loan growth of $1.2 billion came in stronger than we anticipated which contributed to the additional provision expense for the quarter. For 2026, we have a lot of opportunities to sustain our strong loan growth. Our growing interest in commercial real estate projects and, as a combined firm, our push to expand our lending verticals across our expanded footprint will both serve to support our loan growth goals.

"Year-end 2025 results for deposits also exceeded our expectations with year-over-year core deposits up by 10.2 percent, which was more than the growth range we previously anticipated. Importantly, highly-valued noninterest bearing deposits increased by 10.7 percent in 2025. Again, this has much to do with the success of our treasury management and specialty deposit professionals finishing the year with great momentum which we fully expect to carry well into 2026."

PINNACLE'S PRE-TAX, PRE-PROVISION NET REVENUE (PPNR) GROWTH AND PROFITABILITY:

Pre-tax, pre-provision net revenues (PPNR) for the quarter and year ended Dec. 31, 2025 were $239.5 million and $887.1 million, respectively, compared to $213.4 million and $701.8 million, respectively, recognized in the quarter and year ended Dec. 31, 2024. As noted in the table below, adjusted PPNR for the quarter and year ended Dec. 31, 2025, were $250.4 million and $918.6 million, respectively, compared to $213.2 million and $797.7 million, respectively, recognized in the quarter and year ended Dec. 31, 2024, an increase of 17.4 percent and 15.2 percent.


	Three months ended			Year ended
	December 31,			December 31,
(dollars in thousands)	2025	2024	% change	2025	2024	% change
Revenues:
Net interest income	$ 407,435	$ 363,790	12.0 %	$ 1,548,261	$ 1,365,590	13.4 %
Noninterest income	134,769	111,545	20.8 %	506,590	371,178	36.5 %
Total revenues	542,204	475,335	14.1 %	2,054,851	1,736,768	18.3 %
Noninterest expense	302,656	261,897	15.6 %	1,167,728	1,034,970	12.8 %
Pre-tax, pre-provision net revenue	239,548	213,438	12.2 %	887,123	701,798	26.4 %
Adjustments:
Investment (gains) losses on sales of securities, net	4,099	(249)	>100.0%	16,611	71,854	(76.9) %
Recognition of mortgage servicing asset	—	—	NA	—	(11,812)	(100.0) %
ORE expense	346	58	>100.0%	687	220	>100.0%
FDIC special assessment	(7,500)	—	(100.0) %	(7,500)	7,250	>(100.0%)
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	—	NA	—	28,400	(100.0) %
Merger-related expenses	13,939	—	100.0 %	21,666	—	100.0 %
Adjusted pre-tax, pre-provision net revenue	$ 250,432	$ 213,247	17.4 %	$ 918,587	$ 797,710	15.2 %


	Three months ended			Year ended
	Dec. 31, 2025	Sept. 30, 2025	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Net interest margin	3.27 %	3.26 %	3.22 %	3.24 %	3.16 %
Efficiency ratio	55.82 %	55.64 %	55.10 %	56.83 %	59.59 %
Return on average assets (1)	1.16 %	1.22 %	1.15 %	1.15 %	0.93 %
Return on average tangible common equity (TCE) (1)	13.50 %	14.49 %	13.58 %	13.58 %	11.12 %
Average loan to deposit ratio	82.85 %	82.88 %	83.92 %	83.26 %	84.64 %

Net interest income for the fourth quarter of 2025 was $407.4 million, compared to $363.8 million for the fourth quarter of 2024, a year-over-year growth rate of 12.0 percent. Net interest margin was 3.27 percent for the fourth quarter of 2025, compared to 3.22 percent for the fourth quarter of 2024.

Total revenues for the fourth quarter of 2025 were $542.2 million, compared to $475.3 million for the fourth quarter of 2024, a year-over-year increase of 14.1 percent.


	Three months ended		Linked-quarter Annualized % Change	Three months ended	Yr-over-Yr % Change
(dollars in thousands)	Dec. 31, 2025	Sept. 30, 2025		Dec. 31, 2024
Net interest income	$ 407,435	$ 396,865	10.7 %	$ 363,790	12.0 %
Noninterest income	134,769	147,938	(35.6) %	111,545	20.8 %
Total revenues	$ 542,204	$ 544,803	(1.9) %	$ 475,335	14.1 %

•Wealth management revenues, which include investment, trust and insurance services, were $36.9 million for the fourth quarter of 2025, compared to $31.2 million for the fourth quarter of 2024, a year-over-year increase of 18.1 percent. The increase in wealth management revenues is primarily attributable to an increase in capacity. Pinnacle continues to hire more wealth-management revenue producers across the firm, particularly in the areas of the firm's most recent market expansions, further showcasing the power of its differentiated model in markets where we have not previously operated.

•Income from the firm's investment in Banker's Healthcare Group ("BHG") was $31.3 million for the fourth quarter of 2025, compared to $12.1 million for the fourth quarter of 2024, a sharp year-over-year increase.

◦BHG's loan originations were $1.7 billion in the fourth quarter of 2025, compared to $1.7 billion in the third quarter of 2025 and $1.2 billion in the fourth quarter of 2024.

◦Loans sold to BHG's community bank partners were approximately $529 million in the fourth quarter of 2025, compared to $561 million in the third quarter of 2025 and $505 million in the fourth quarter of 2024.

◦BHG reserves for on-balance sheet loan losses were $376 million, or 11.4 percent of loans held for investment at Dec. 31, 2025, compared to 11.2 percent at Sept. 30, 2025, and 9.3 percent at Dec. 31, 2024.

◦At Dec. 31, 2025, BHG increased its accrual for estimated losses attributable to loan substitutions and prepayments to $709 million, or 8.6 percent of the unpaid balances on loans that were previously purchased by BHG's community bank network, compared to 7.9 percent at Sept. 30, 2025 and 7.1 percent at Dec. 31, 2024.

•Noninterest income categories, other than those specifically noted above, contributed $66.6 million for the quarter ended Dec. 31, 2025, a decrease of $1.7 million from the fourth quarter of 2024.

Noninterest expense for the fourth quarter of 2025 was $302.7 million, compared to $261.9 million for the fourth quarter of 2024. As noted in the table below, adjusted noninterest expense for the fourth quarter of 2025 was $295.9 million, compared to $261.8 million in the prior year.


	Three months ended		Linked-quarter Annualized % Change	Three months ended	Yr-over-yr % Change
(dollars in thousands)	Dec. 31, 2025	Sept. 30, 2025		Dec. 31, 2024
Noninterest expense	$ 302,656	$ 303,139	(0.6) %	$ 261,897	15.6 %
Less:
ORE expense	346	146	>100.0%	58	>100.0%
FDIC special assessment	(7,500)	—	(100.0) %	—	(100.0) %
Merger-related expenses	13,939	7,727	>100.0%	—	100.0 %
Adjusted noninterest expense	$ 295,871	$ 295,266	0.8 %	$ 261,839	13.0 %

•Salaries and employee benefits were $181.1 million in the fourth quarter of 2025, compared to $164.7 million in the fourth quarter of 2024, reflecting a year-over-year increase of 10.0 percent.

◦Cash incentive costs in the fourth quarter of 2025 totaling $26.2 million were approximately $8.3 million lower than the third quarter of 2025. The fourth quarter 2025 accrual assumed a 125 percent of target payout for 2025, reflecting excellent performance for the year.

•Equipment and occupancy costs were $52.2 million in the fourth quarter of 2025, compared to $42.8 million in the fourth quarter of 2024, resulting in a year-over-year increase of 22.0 percent. This increase was primarily attributable to the opening of new full-service locations during 2025 and the relocation of the corporate headquarters to a new office during the first quarter of 2025.

•Merger-related expenses for the year ended Dec. 31, 2025 were $21.7 million and represent costs associated with our merger with Synovus, which closed on January 1, 2026.

"Revenue growth in the fourth quarter was exceptional and provides further evidence that we are active in our markets, while our leadership was also diligently working to advance a successful merger with Synovus," Turner said. "Net interest income for 2025 was up a solid 13.4 percent over the prior year, well within the range we discussed at the end of last quarter. As anticipated, our net interest margin expanded in the fourth quarter to 3.27 percent, up from the 3.26 percent last quarter. Noninterest income in 2025 was up a phenomenal 36.5 percent over last year. Noninterest income, excluding the impact of investment securities net losses and the recognition of a mortgage servicing asset in 2024, was up 21.3 percent from last year, again, well within the range we discussed last quarter as significant contributions from wealth, treasury management, BHG and our other fee businesses contributed greatly to our 2025 success. Additionally, at the end of last quarter, we disclosed that BHG revenues would decrease by approximately $10 million in the fourth quarter from the third quarter. In the end, BHG's results for the fourth quarter were slightly better than we had anticipated.

"As to noninterest expense, excluding the reversal of the FDIC special assessment, merger-related costs and ORE expenses, our 2025 noninterest expense ended the year at $1.153 billion, which was within the range we discussed last quarter. Also, as expected, the final results for our 2025 associate cash incentives ended the year at 125 percent of target which warranted a maximum award to our team members."

PINNACLE'S CAPITAL AND SOUNDNESS:


	As of
	Dec. 31, 2025	Sept. 30, 2025	Dec. 31, 2024
Shareholders' equity to total assets	12.2 %	12.3 %	12.2 %
Tangible common equity to tangible assets	8.9 %	8.8 %	8.6 %
Book value per common share	$ 87.90	$ 85.60	$ 80.46
Tangible book value per common share	$ 63.71	$ 61.53	$ 56.24
Annualized net loan charge-offs to avg. loans (1)	0.28 %	0.18 %	0.24 %
Nonperforming assets to total loans, ORE and other nonperforming assets (NPAs)	0.36 %	0.41 %	0.42 %
Classified asset ratio (Pinnacle Bank) (2)	3.52 %	4.16 %	3.79 %
Construction and land development loans as a percentage of total capital (3)	57.70 %	59.60 %	70.50 %
Construction and land development, non-owner occupied commercial real estate and multi-family loans as a percentage of total capital (3)	221.10 %	218.10 %	242.20 %
Allowance for credit losses (ACL) to total loans	1.13 %	1.15 %	1.17 %

(1): Annualized net loan charge-offs to average loans ratios are computed by annualizing quarterly net loan charge-offs and dividing the result by average loans for the quarter.

(2): Classified assets as a percentage of Tier 1 capital plus allowance for credit losses.

(3): Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report.

"Fourth quarter soundness metrics all remain strong," Turner said. "During the quarter, we determined the need to charge off a nonperforming commercial real estate loan for approximately $16.9 million, of which approximately $10.0 million had been carried in our allowance for loan losses since the first quarter of 2024. This resulted in increased charge-offs in relation to average loans, as well as increased provision expense. However, we are also reporting decreases in nonperforming loans, as well as a slight reduction in our allowance for loan losses in relation to total loans.

"Our tangible equity ratio increased to 8.9 percent at Dec. 31, 2025 while our common equity tier one risk-based capital ratio stood at 10.9 percent, up slightly over the course of 2025. Another metric that we remain very proud of is our tangible book value per share which stood at $63.71 per share at Dec. 31, 2025, an increase of 13.3 percent over last year’s result."

WEBCAST AND CONFERENCE CALL INFORMATION

Pinnacle will host a webcast and conference call at 8:30 a.m. ET on January 22, 2026, to discuss legacy Pinnacle's and legacy Synovus' fourth quarter 2025 results and other matters. To access the call for audio only, please call 1-888-506-0062. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at investors.pnfp.com.

Pinnacle Financial Partners, Inc. (“Pinnacle”) is a regional bank which provides a full range of banking, investment, trust, mortgage and insurance products and services for commercial and consumer clients who want a comprehensive relationship with their financial institution. The firm joined forces with Synovus in 2026, bringing together more than 160 years of combined banking service. Pinnacle is the largest bank headquartered in Tennessee and the largest bank holding company headquartered in Georgia. The firm is No. 1 in deposit market share in the Nashville MSA and No. 4 in the Atlanta MSA with offices in Tennessee, Georgia, Florida, North Carolina, South Carolina, Alabama, Kentucky, Virginia and Maryland (based on June 30, 2025 FDIC market share data).

Pinnacle is an employer of choice for financial services professionals. The firm is No. 9 in FORTUNE magazine’s 2025 list of 100 Best Companies to Work For® in the U.S., its ninth consecutive appearance. Pinnacle was also recognized by American Banker as No. 4 among America’s Best Banks to Work For in 2025, its 13th consecutive year on the list, and No. 1 among banks with more than $10 billion in assets.

FORWARD LOOKING STATEMENTS

You can identify these forward-looking statements through Pinnacle's use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Pinnacle's future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding the anticipated benefits and risks related to the recently-completed business combination with Synovus Financial Corp., our future operating and financial performance; expectations on our intended strategies, initiatives, and other operational and execution goals; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Pinnacle to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Pinnacle's management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Pinnacle's ability to control or predict.

These forward-looking statements are based upon information presently known to management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Pinnacle's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024, under the captions “Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors” and in Pinnacle's quarterly reports on Form 10-Q, current reports on Form 8-K and other filings and reports filed with the Securities and Exchange Commission. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

NON-GAAP FINANCIAL MEASURES

This release contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, charges related to the FDIC special assessment, income associated with the recognition of a mortgage servicing asset in the first quarter of 2024, fees related to terminating an agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives in the second quarter of 2024, merger-related expenses incurred in connection with our combination with Synovus and other matters for the accounting periods presented. This release may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.

Pinnacle believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle believes that the presentation of this information allows investors to more easily compare Pinnacle's results to the results of other companies. Pinnacle's management utilizes this non-GAAP financial information to compare Pinnacle's operating performance for 2025 versus certain periods in 2024 and to internally prepared projections.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS – UNAUDITED

(dollars in thousands, except for share and per share data)	Dec. 31, 2025	Sept. 30, 2025	Dec. 31, 2024
ASSETS
Cash and noninterest-bearing due from banks	$ 358,258	$ 295,133	$ 320,320
Restricted cash	91,174	128,830	93,645
Interest-bearing due from banks	3,115,650	2,841,647	3,021,960
Cash and cash equivalents	3,565,082	3,265,610	3,435,925
Securities purchased with agreement to resell	96,395	83,120	66,449
Securities available-for-sale, at fair value	6,566,683	6,411,806	5,582,369
Securities held-to-maturity (fair value of $2.4 billion, $2.4 billion and $2.6 billion, net of allowance for credit losses of $1.7 million, $1.7 million, and $1.7 million at Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024, respectively)	2,590,524	2,644,802	2,798,899
Consumer loans held-for-sale	91,713	163,129	175,627
Commercial loans held-for-sale	5,647	12,267	19,700
Loans	39,154,002	37,932,613	35,485,776
Less allowance for credit losses	(441,540)	(434,450)	(414,494)
Loans, net	38,712,462	37,498,163	35,071,282
Premises and equipment, net	339,990	337,552	311,277
Equity method investment	391,946	389,109	436,707
Accrued interest receivable	219,761	218,647	214,080
Goodwill	1,848,904	1,848,904	1,849,260
Core deposits and other intangible assets	29,715	18,108	21,423
Other real estate owned	8,053	5,129	1,278
Other assets	3,239,178	3,067,203	2,605,173
Total assets	$ 57,706,053	$ 55,963,549	$ 52,589,449
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing	$ 9,046,666	$ 8,952,978	$ 8,170,448
Interest-bearing	15,649,061	15,031,854	14,125,194
Savings and money market accounts	17,627,689	17,097,698	16,197,397
Time	5,073,106	4,644,594	4,349,953
Total deposits	47,396,522	45,727,124	42,842,992
Securities sold under agreements to repurchase	316,447	325,573	230,244
Federal Home Loan Bank advances	1,778,329	1,777,003	1,874,134
Subordinated debt and other borrowings	426,704	426,483	425,821
Accrued interest payable	48,250	48,484	55,619
Other liabilities	696,086	802,690	728,758
Total liabilities	50,662,338	49,107,357	46,157,568
Preferred stock, no par value, 10.0 million shares authorized; 225,000 shares non-cumulative perpetual preferred stock, Series B, liquidation preference $225.0 million, issued and outstanding at Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024, respectively	217,126	217,126	217,126
Common stock, par value $1.00; 180.0 million shares authorized; 77.7 million, 77.6 million and 77.2 million shares issued and outstanding at Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024, respectively	77,662	77,558	77,242
Additional paid-in capital	3,144,104	3,141,416	3,129,680
Retained earnings	3,727,788	3,579,862	3,175,777
Accumulated other comprehensive loss, net of taxes	(122,965)	(159,770)	(167,944)
Total shareholders' equity	7,043,715	6,856,192	6,431,881
Total liabilities and shareholders' equity	$ 57,706,053	$ 55,963,549	$ 52,589,449
This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
(dollars in thousands, except for share and per share data)	Three months ended			Year ended
	Dec. 31, 2025	Sept. 30, 2025	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024
Interest income:
Loans, including fees	$ 583,740	$ 588,131	$ 557,716	$ 2,288,096	$ 2,221,063
Securities
Taxable	64,953	67,158	58,842	260,953	220,666
Tax-exempt	27,483	27,646	24,947	107,463	97,779
Federal funds sold and other	35,279	38,312	42,855	139,120	158,590
Total interest income	711,455	721,247	684,360	2,795,632	2,698,098
Interest expense:
Deposits	275,008	294,164	287,511	1,127,179	1,203,455
Securities sold under agreements to repurchase	1,501	1,423	1,182	5,172	5,392
FHLB advances and other borrowings	27,511	28,795	31,877	115,020	123,661
Total interest expense	304,020	324,382	320,570	1,247,371	1,332,508
Net interest income	407,435	396,865	363,790	1,548,261	1,365,590
Provision for credit losses	34,101	31,939	29,652	107,245	120,589
Net interest income after provision for credit losses	373,334	364,926	334,138	1,441,016	1,245,001
Noninterest income:
Service charges on deposit accounts	18,720	18,290	15,175	71,130	59,394
Investment services	22,340	23,910	19,233	84,391	67,572
Insurance sales commissions	3,142	4,016	2,900	15,525	13,753
Gains on mortgage loans sold, net	1,347	1,828	2,344	7,647	11,136
Investment gains (losses) on sales of securities, net	(4,099)	—	249	(16,611)	(71,854)
Trust fees	11,415	10,316	9,098	40,351	33,219
Income from equity method investment	31,297	40,614	12,070	118,343	63,172
Gain on sale of fixed assets	142	—	38	554	2,258
Other noninterest income	50,465	48,964	50,438	185,260	192,528
Total noninterest income	134,769	147,938	111,545	506,590	371,178
Noninterest expense:
Salaries and employee benefits	181,095	187,001	164,670	721,431	621,031
Equipment and occupancy	52,167	48,910	42,756	195,300	166,002
Other real estate, net	346	146	58	687	220
Marketing and other business development	12,011	7,902	8,168	37,351	26,668
Postage and supplies	3,269	3,401	3,178	13,232	12,049
Amortization of intangibles	1,393	1,398	1,544	5,608	6,254
Merger-related expenses	13,939	7,727	—	21,666	—
Other noninterest expense	38,436	46,654	41,523	172,453	202,746
Total noninterest expense	302,656	303,139	261,897	1,167,728	1,034,970
Income before income taxes	205,447	209,725	183,786	779,878	581,209
Income tax expense	35,666	36,589	32,527	138,013	106,153
Net income	169,781	173,136	151,259	641,865	475,056
Preferred stock dividends	(3,798)	(3,798)	(3,798)	(15,192)	(15,192)
Net income available to common shareholders	$ 165,983	$ 169,338	$ 147,461	$ 626,673	$ 459,864

Per share information:
Basic net income per common share	$ 2.16	$ 2.20	$ 1.93	$ 8.15	$ 6.01
Diluted net income per common share	$ 2.13	$ 2.19	$ 1.91	$ 8.07	$ 5.96
Weighted average common shares outstanding:
Basic	76,929,255	76,904,045	76,537,040	76,863,389	76,460,926
Diluted	77,746,329	77,310,293	77,384,742	77,688,626	77,131,330

This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY

(Unaudited)


(dollars and shares in thousands)	Preferred Stock Amount	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comp. Income (Loss), net	Total Shareholders' Equity
		Shares	Amounts
Balance at December 31, 2023	$ 217,126	76,767	$ 76,767	$ 3,109,493	$ 2,784,927	$ (152,525)	$ 6,035,788
Preferred dividends paid ($67.52 per share)	—	—	—	—	(15,192)	—	(15,192)
Common dividends paid ($0.88 per share)	—	—	—	—	(69,014)	—	(69,014)
Issuance of restricted common shares	—	262	262	(262)	—	—	—
Forfeiture of restricted common shares	—	(30)	(30)	30	—	—	—
Restricted shares withheld for taxes & related tax benefits	—	(68)	(68)	(5,774)	—	—	(5,842)
Issuance of common stock pursuant to restricted stock unit (RSU) and performance stock unit (PSU) agreements, net of shares withheld for taxes & related tax benefits	—	311	311	(14,741)	—	—	(14,430)
Compensation expense for restricted shares, RSUs and PSUs	—	—	—	40,934	—	—	40,934
Net income	—	—	—	—	475,056	—	475,056
Other comprehensive loss	—	—	—	—	—	(15,419)	(15,419)
Balance at December 31, 2024	$ 217,126	77,242	$ 77,242	$ 3,129,680	$ 3,175,777	$ (167,944)	$ 6,431,881

Balance at December 31, 2024	$ 217,126	77,242	$ 77,242	$ 3,129,680	$ 3,175,777	$ (167,944)	$ 6,431,881
Preferred dividends paid ($67.52 per share)	—	—	—	—	(15,192)	—	(15,192)
Common dividends paid ($0.96 per share)	—	—	—	—	(74,662)	—	(74,662)
Issuance of restricted common shares	—	214	214	(214)	—	—	—
Forfeiture of restricted common shares	—	(33)	(33)	33	—	—	—
Restricted shares withheld for taxes & related tax benefits	—	(69)	(69)	(7,612)	—	—	(7,681)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes & related tax benefits	—	308	308	(21,409)	—	—	(21,101)
Compensation expense for restricted shares, RSUs and PSUs	—	—	—	43,626	—	—	43,626
Net income	—	—	—	—	641,865	—	641,865
Other comprehensive gain	—	—	—	—	—	44,979	44,979
Balance at December 31, 2025	$ 217,126	77,662	$ 77,662	$ 3,144,104	$ 3,727,788	$ (122,965)	$ 7,043,715
This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED

(dollars in thousands)	December	September	June	March	December	September
	2025	2025	2025	2025	2024	2024
Balance sheet data, at quarter end:
Commercial and industrial loans	$ 16,365,200	15,570,921	14,905,306	14,131,312	13,815,817	12,986,865
Commercial real estate - owner occupied loans	5,215,810	4,904,462	4,744,806	4,594,376	4,388,531	4,264,743
Commercial real estate - investment loans	5,803,480	5,803,851	5,891,694	5,977,583	5,931,420	5,919,235
Commercial real estate - multifamily and other loans	2,337,836	2,284,438	2,393,696	2,360,515	2,198,698	2,213,153
Consumer real estate - mortgage loans	5,518,618	5,373,110	5,163,761	4,977,358	4,914,482	4,907,766
Construction and land development loans	3,241,266	3,389,451	3,412,060	3,525,860	3,699,321	3,486,504
Consumer and other loans	671,792	606,380	593,841	569,742	537,507	530,044
Total loans	39,154,002	37,932,613	37,105,164	36,136,746	35,485,776	34,308,310
Allowance for credit losses	(441,540)	(434,450)	(422,125)	(417,462)	(414,494)	(391,534)
Securities	9,157,207	9,056,608	9,066,651	8,718,794	8,381,268	8,293,241
Total assets	57,706,053	55,963,549	54,801,451	54,254,804	52,589,449	50,701,888
Noninterest-bearing deposits	9,046,666	8,952,978	8,640,759	8,507,351	8,170,448	8,229,394
Total deposits	47,396,522	45,727,124	44,999,244	44,479,463	42,842,992	40,954,888
Securities sold under agreements to repurchase	316,447	325,573	258,454	263,993	230,244	209,956
FHLB advances	1,778,329	1,777,003	1,775,470	1,886,011	1,874,134	2,146,395
Subordinated debt and other borrowings	426,704	426,483	426,263	426,042	425,821	425,600
Total shareholders' equity	7,043,715	6,856,192	6,637,237	6,543,142	6,431,881	6,344,258
Balance sheet data, quarterly averages:
Total loans	$ 38,656,655	37,693,158	36,967,754	36,041,530	34,980,900	34,081,759
Securities	9,215,021	9,025,752	8,986,542	8,679,934	8,268,583	8,176,250
Federal funds sold and other	3,606,379	3,360,273	2,854,113	2,958,593	3,153,751	2,601,267
Total earning assets	51,478,055	50,079,183	48,808,409	47,680,057	46,403,234	44,859,276
Total assets	56,705,549	55,213,879	53,824,500	52,525,831	51,166,643	49,535,543
Noninterest-bearing deposits	9,246,937	8,873,147	8,486,681	8,206,751	8,380,760	8,077,655
Total deposits	46,657,794	45,479,133	44,233,628	43,018,951	41,682,341	40,101,199
Securities sold under agreements to repurchase	326,116	287,465	255,662	230,745	223,162	230,340
FHLB advances	1,777,721	1,774,237	1,838,449	1,877,596	2,006,736	2,128,793
Subordinated debt and other borrowings	433,619	433,472	427,805	427,624	427,503	427,380
Total shareholders' equity	6,966,997	6,721,569	6,601,662	6,515,904	6,405,867	6,265,710
Statement of operations data, for the three months ended:
Interest income	$ 711,455	721,247	694,770	668,160	684,360	694,865
Interest expense	304,020	324,382	315,237	303,732	320,570	343,361
Net interest income	407,435	396,865	379,533	364,428	363,790	351,504
Provision for credit losses	34,101	31,939	24,245	16,960	29,652	26,281
Net interest income after provision for credit losses	373,334	364,926	355,288	347,468	334,138	325,223
Noninterest income	134,769	147,938	125,457	98,426	111,545	115,242
Noninterest expense	302,656	303,139	286,446	275,487	261,897	259,319
Income before income taxes	205,447	209,725	194,299	170,407	183,786	181,146
Income tax expense	35,666	36,589	35,759	29,999	32,527	34,455
Net income	169,781	173,136	158,540	140,408	151,259	146,691
Preferred stock dividends	(3,798)	(3,798)	(3,798)	(3,798)	(3,798)	(3,798)
Net income available to common shareholders	$ 165,983	169,338	154,742	136,610	147,461	142,893
Profitability and other ratios:
Return on avg. assets (1)	1.16 %	1.22 %	1.15 %	1.05 %	1.15 %	1.15 %
Return on avg. equity (1)	9.45 %	10.00 %	9.40 %	8.50 %	9.16 %	9.07 %
Return on avg. common equity (1)	9.76 %	10.33 %	9.72 %	8.80 %	9.48 %	9.40 %
Return on avg. tangible common equity (1)	13.50 %	14.49 %	13.75 %	12.51 %	13.58 %	13.61 %
Common stock dividend payout ratio (14)	11.87 %	12.20 %	12.73 %	15.53 %	14.72 %	16.73 %
Net interest margin (2)	3.27 %	3.26 %	3.23 %	3.21 %	3.22 %	3.22 %
Noninterest income to total revenue (3)	24.86 %	27.15 %	24.84 %	21.27 %	23.47 %	24.69 %
Noninterest income to avg. assets (1)	0.94 %	1.06 %	0.93 %	0.76 %	0.87 %	0.93 %
Noninterest exp. to avg. assets (1)	2.12 %	2.18 %	2.13 %	2.13 %	2.04 %	2.08 %
Efficiency ratio (4)	55.82 %	55.64 %	56.72 %	59.52 %	55.10 %	55.56 %
Avg. loans to avg. deposits	82.85 %	82.88 %	83.57 %	83.78 %	83.92 %	84.99 %
Securities to total assets	15.87 %	16.18 %	16.54 %	16.07 %	15.94 %	16.36 %
This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED

(dollars in thousands)	Three months ended			Three months ended
	December 31, 2025			December 31, 2024
	Average Balances	Interest	Rates/ Yields	Average Balances	Interest	Rates/ Yields
Interest-earning assets
Loans (1) (2)	$ 38,656,655	$ 583,740	6.11 %	$ 34,980,900	$ 557,716	6.42 %
Securities
Taxable	5,786,264	64,953	4.45 %	4,953,134	58,842	4.73 %
Tax-exempt (2)	3,428,757	27,483	3.80 %	3,315,449	24,947	3.58 %
Interest-bearing due from banks	3,213,013	29,967	3.70 %	2,819,891	36,135	5.10 %
Resell agreements	101,919	2,232	8.69 %	75,583	1,697	8.93 %
Federal funds sold	—	—	— %	—	—	— %
Other	291,447	3,080	4.19 %	258,277	5,023	7.74 %
Total interest-earning assets	51,478,055	$ 711,455	5.62 %	46,403,234	$ 684,360	5.97 %
Nonearning assets
Intangible assets	1,872,458			1,870,051
Other nonearning assets	3,355,036			2,893,358
Total assets	$ 56,705,549			$ 51,166,643

Interest-bearing liabilities
Interest-bearing deposits:
Interest checking	15,119,001	111,685	2.93 %	13,162,542	113,704	3.44 %
Savings and money market	17,462,107	118,415	2.69 %	15,654,866	125,760	3.20 %
Time	4,829,749	44,908	3.69 %	4,484,173	48,047	4.26 %
Total interest-bearing deposits	37,410,857	275,008	2.92 %	33,301,581	287,511	3.43 %
Securities sold under agreements to repurchase	326,116	1,501	1.83 %	223,162	1,182	2.11 %
Federal Home Loan Bank advances	1,777,721	19,645	4.38 %	2,006,736	23,159	4.59 %
Subordinated debt and other borrowings	433,619	7,866	7.20 %	427,503	8,718	8.11 %
Total interest-bearing liabilities	39,948,313	304,020	3.02 %	35,958,982	320,570	3.55 %
Noninterest-bearing deposits	9,246,937	—	—	8,380,760	—	—
Total deposits and interest-bearing liabilities	49,195,250	$ 304,020	2.45 %	44,339,742	$ 320,570	2.88 %
Other liabilities	543,302			421,034
Shareholders' equity	6,966,997			6,405,867
Total liabilities and shareholders' equity	$ 56,705,549			$ 51,166,643
Net interest income		$ 407,435			$ 363,790
Net interest spread (3)			2.60 %			2.42 %
Net interest margin (4)			3.27 %			3.22 %

(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $17.2 million of taxable equivalent income for the three months ended Dec. 31, 2025 compared to $12.1 million for the three months ended Dec. 31, 2024. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented.
(3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the three months ended Dec. 31, 2025 would have been 3.16% compared to a net interest spread of 3.09% for the three months ended Dec. 31, 2024.
(4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.

This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED

(dollars in thousands)	Year ended			Year ended
	December 31, 2025			December 31, 2024
	Average Balances	Interest	Rates/ Yields	Average Balances	Interest	Rates/ Yields
Interest-earning assets
Loans (1) (2)	$ 37,347,907	$ 2,288,096	6.23 %	$ 33,908,775	$ 2,221,063	6.64 %
Securities
Taxable	5,631,662	260,953	4.63 %	4,487,037	220,666	4.92 %
Tax-exempt (2)	3,346,750	107,463	3.84 %	3,284,099	97,779	3.55 %
Interest-bearing due from banks	2,852,913	118,459	4.15 %	2,533,184	132,199	5.22 %
Resell agreements	80,272	7,936	9.89 %	285,356	10,669	3.74 %
Federal funds sold	—	—	— %	—	—	— %
Other	263,872	12,725	4.82 %	254,731	15,722	6.17 %
Total interest-earning assets	49,523,376	$ 2,795,632	5.76 %	44,753,182	$ 2,698,098	6.14 %
Nonearning assets
Intangible assets	1,869,980			1,871,723
Other nonearning assets	3,187,306			2,821,948
Total assets	$ 54,580,662			$ 49,446,853

Interest-bearing liabilities
Interest-bearing deposits:
Interest checking	14,524,949	457,226	3.15 %	12,309,946	465,862	3.78 %
Savings and money market	16,959,977	491,058	2.90 %	14,928,631	530,100	3.55 %
Time	4,667,457	178,895	3.83 %	4,720,595	207,493	4.40 %
Total interest-bearing deposits	36,152,383	1,127,179	3.12 %	31,959,172	1,203,455	3.77 %
Securities sold under agreements to repurchase	275,292	5,172	1.88 %	219,451	5,392	2.46 %
Federal Home Loan Bank advances	1,816,610	82,855	4.56 %	2,113,947	96,602	4.57 %
Subordinated debt and other borrowings	430,654	32,165	7.47 %	427,604	27,059	6.33 %
Total interest-bearing liabilities	38,674,939	1,247,371	3.23 %	34,720,174	1,332,508	3.84 %
Noninterest-bearing deposits	8,706,694	—	—	8,103,652	—	—
Total deposits and interest-bearing liabilities	47,381,633	$ 1,247,371	2.63 %	42,823,826	$ 1,332,508	3.11 %
Other liabilities	496,205			399,183
Shareholders' equity	6,702,824			6,223,844
Total liabilities and shareholders' equity	$ 54,580,662			$ 49,446,853
Net interest income		$ 1,548,261			$ 1,365,590
Net interest spread (3)			2.54 %			2.30 %
Net interest margin (4)			3.24 %			3.16 %

(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $58.7 million of taxable equivalent income for the year ended Dec. 31, 2025 compared to $47.7 million for the year ended Dec. 31, 2024. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented.
(3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the year ended Dec. 31, 2025 would have been 3.13% compared to a net interest spread of 3.02% for the year ended Dec. 31, 2024.
(4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.
This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED

(dollars in thousands)	December	September	June	March	December	September
	2025	2025	2025	2025	2024	2024
Asset quality information and ratios:
Nonperforming assets:
Nonaccrual loans	$ 133,361	149,683	157,170	171,570	147,825	119,293
ORE and other nonperforming assets (NPAs)	8,089	5,210	4,835	3,656	1,280	823
Total nonperforming assets	$ 141,450	154,893	162,005	175,226	149,105	120,116
Past due loans over 90 days and still accruing interest	$ 2,870	2,632	4,652	4,337	3,515	3,611
Accruing purchase credit deteriorated loans	$ 8,732	9,564	10,344	12,215	13,877	5,715
Net loan charge-offs	$ 27,011	16,788	18,737	13,992	20,807	18,348
Allowance for credit losses to nonaccrual loans	331.1 %	290.2 %	268.6 %	243.3 %	280.4 %	328.2 %
As a percentage of total loans:
Past due accruing loans over 30 days	0.14 %	0.17 %	0.14 %	0.14 %	0.15 %	0.16 %
Potential problem loans	0.11 %	0.20 %	0.12 %	0.15 %	0.13 %	0.14 %
Allowance for credit losses	1.13 %	1.15 %	1.14 %	1.16 %	1.17 %	1.14 %
Nonperforming assets to total loans, ORE and other NPAs	0.36 %	0.41 %	0.44 %	0.48 %	0.42 %	0.35 %
Classified asset ratio (Pinnacle Bank) (6)	3.5 %	4.2 %	3.9 %	4.4 %	3.8 %	3.9 %
Annualized net loan charge-offs to avg. loans (5)	0.28 %	0.18 %	0.20 %	0.16 %	0.24 %	0.21 %

Interest rates and yields:
Loans	6.11 %	6.29 %	6.26 %	6.24 %	6.42 %	6.75 %
Securities	4.21 %	4.41 %	4.44 %	4.30 %	4.27 %	4.58 %
Total earning assets	5.62 %	5.83 %	5.82 %	5.79 %	5.97 %	6.27 %
Total deposits, including non-interest bearing	2.34 %	2.57 %	2.58 %	2.58 %	2.74 %	3.08 %
Securities sold under agreements to repurchase	1.83 %	1.96 %	1.92 %	1.80 %	2.11 %	2.58 %
FHLB advances	4.38 %	4.61 %	4.65 %	4.59 %	4.59 %	4.66 %
Subordinated debt and other borrowings	7.20 %	7.49 %	7.57 %	7.63 %	8.11 %	5.97 %
Total deposits and interest-bearing liabilities	2.45 %	2.68 %	2.70 %	2.70 %	2.88 %	3.19 %

Capital and other ratios (6):
Pinnacle Financial ratios:
Shareholders' equity to total assets	12.2 %	12.3 %	12.1 %	12.1 %	12.2 %	12.5 %
Common equity Tier one	10.9 %	10.8 %	10.7 %	10.7 %	10.8 %	10.8 %
Tier one risk-based	11.3 %	11.3 %	11.2 %	11.2 %	11.3 %	11.4 %
Total risk-based	13.0 %	12.9 %	13.0 %	13.0 %	13.1 %	13.2 %
Leverage	9.6 %	9.6 %	9.5 %	9.5 %	9.6 %	9.6 %
Tangible common equity to tangible assets	8.9 %	8.8 %	8.6 %	8.5 %	8.6 %	8.7 %
Pinnacle Bank ratios:
Common equity Tier one	11.1 %	11.5 %	11.5 %	11.5 %	11.6 %	11.7 %
Tier one risk-based	11.1 %	11.5 %	11.5 %	11.5 %	11.6 %	11.7 %
Total risk-based	12.1 %	12.5 %	12.4 %	12.4 %	12.5 %	12.6 %
Leverage	9.4 %	9.8 %	9.7 %	9.7 %	9.8 %	9.8 %
Construction and land development loans as a percentage of total capital (17)	57.7 %	59.6 %	61.8 %	65.6 %	70.5 %	68.2 %
Non-owner occupied commercial real estate and multi-family as a percentage of total capital (17)	221.1 %	218.1 %	228.6 %	236.4 %	242.2 %	243.3 %

This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED

(dollars in thousands, except per share data)		December	September	June	March	December	September
		2025	2025	2025	2025	2024	2024

Per share data:
Earnings per common share – basic	$	2.16	2.20	2.01	1.78	1.93	1.87
Earnings per common share - basic, excluding non-GAAP adjustments	$	2.26	2.28	2.01	1.90	1.92	1.87
Earnings per common share – diluted	$	2.13	2.19	2.00	1.77	1.91	1.86
Earnings per common share - diluted, excluding non-GAAP adjustments	$	2.24	2.27	2.00	1.90	1.90	1.86
Common dividends per share	$	0.24	0.24	0.24	0.24	0.22	0.22
Book value per common share at quarter end (7)	$	87.90	85.60	82.79	81.57	80.46	79.33
Tangible book value per common share at quarter end (7)	$	63.71	61.53	58.70	57.47	56.24	55.12
Revenue per diluted common share	$	6.97	7.05	6.53	6.01	6.14	6.08
Revenue per diluted common share, excluding non-GAAP adjustments	$	7.03	7.05	6.53	6.18	6.14	6.08

Investor information:
Closing sales price of common stock on last trading day of quarter	$	95.41	93.79	110.41	106.04	114.39	97.97
High closing sales price of common stock during quarter	$	101.53	119.63	111.51	126.15	129.87	100.56
Low closing sales price of common stock during quarter	$	84.38	86.13	87.19	99.42	92.95	76.97

Closing sales price of depositary shares on last trading day of quarter	$	25.02	25.14	23.91	24.10	24.23	24.39
High closing sales price of depositary shares during quarter	$	25.28	25.48	24.56	25.25	25.02	24.50
Low closing sales price of depositary shares during quarter	$	24.65	24.08	23.76	24.10	24.23	23.25

Other information:
Residential mortgage loan sales:
Gross loans sold	$	128,057	168,935	192,859	145,645	185,707	209,144
Gross fees (8)	$	2,820	4,424	4,068	3,761	4,360	4,974
Gross fees as a percentage of loans originated		2.20 %	2.62 %	2.11 %	2.58 %	2.35 %	2.38 %
Net gain on residential mortgage loans sold	$	1,347	1,828	1,965	2,507	2,344	2,643
Investment gains (losses) on sales of securities, net (13)	$	(4,099)	—	—	(12,512)	249	—
Brokerage account assets, at quarter end (9)	$	16,028,270	15,653,343	14,665,349	13,324,592	13,086,359	12,791,337
Trust account managed assets, at quarter end	$	8,475,121	8,233,933	7,664,867	7,293,630	7,061,868	6,830,323
Core deposits (10)	$	41,927,530	40,813,687	39,761,037	40,012,999	38,046,904	35,764,640
Core deposits to total funding (10)		84.0 %	84.6 %	83.8 %	85.0 %	83.9 %	81.8 %
Risk-weighted assets	$	46,526,782	45,571,307	44,413,507	43,210,918	41,976,450	40,530,585
Number of offices		141	138	137	136	137	136
Total core deposits per office	$	297,358	295,751	290,227	294,213	277,715	262,975
Total assets per full-time equivalent employee	$	15,558	15,301	15,109	15,092	14,750	14,418
Annualized revenues per full-time equivalent employee	$	580.0	591.0	558.5	522.2	530.4	528.0
Annualized expenses per full-time equivalent employee	$	323.7	328.8	316.8	310.8	292.2	293.4
Number of employees (full-time equivalent)		3,709.0	3,657.5	3,627.0	3,595.0	3,565.5	3,516.5
Associate retention rate (11)		93.2 %	93.0 %	93.4 %	94.3 %	94.5 %	94.6 %

This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
	Three months ended			Year ended
(dollars in thousands, except per share data)	December	September	December	December	December
	2025	2025	2024	2025	2024

Net interest income	$ 407,435	396,865	363,790	1,548,261	1,365,590

Noninterest income	134,769	147,938	111,545	506,590	371,178
Total revenues	542,204	544,803	475,335	2,054,851	1,736,768
Less: Investment (gains) losses on sales of securities, net	4,099	—	(249)	16,611	71,854
Recognition of mortgage servicing asset	—	—	—	—	(11,812)
Total revenues excluding the impact of adjustments noted above	$ 546,303	544,803	475,086	2,071,462	1,796,810

Noninterest expense	$ 302,656	303,139	261,897	1,167,728	1,034,970
Less: ORE expense	346	146	58	687	220
FDIC special assessment	(7,500)	—	—	(7,500)	7,250
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	—	—	—	28,400
Merger-related expenses	13,939	7,727	—	21,666	—
Noninterest expense excluding the impact of adjustments noted above	$ 295,871	295,266	261,839	1,152,875	999,100

Pre-tax income	$ 205,447	209,725	183,786	779,878	581,209
Provision for credit losses	34,101	31,939	29,652	107,245	120,589
Pre-tax pre-provision net revenue	239,548	241,664	213,438	887,123	701,798
Less: Adjustments noted above	10,884	7,873	(191)	31,464	95,912
Adjusted pre-tax pre-provision net revenue (12)	$ 250,432	249,537	213,247	918,587	797,710

Noninterest income	$ 134,769	147,938	111,545	506,590	371,178
Less: Adjustments noted above	4,099	—	(249)	16,611	60,042
Noninterest income excluding the impact of adjustments noted above	$ 138,868	147,938	111,296	523,201	431,220

Efficiency ratio (4)	55.82 %	55.64 %	55.10 %	56.83 %	59.59 %
Less: Adjustments noted above	(1.66) %	(1.44) %	0.01 %	(1.17) %	(3.99) %
Efficiency ratio excluding adjustments noted above (4)	54.16 %	54.20 %	55.11 %	55.66 %	55.60 %

Total average assets	$ 56,705,549	55,213,879	51,166,643	54,580,662	49,446,853

Noninterest income to average assets (1)	0.94 %	1.06 %	0.87 %	0.93 %	0.75 %
Less: Adjustments noted above	0.03 %	— %	— %	0.03 %	0.12 %
Noninterest income (excluding adjustments noted above) to average assets (1)	0.97 %	1.06 %	0.87 %	0.96 %	0.87 %

Noninterest expense to average assets (1)	2.12 %	2.18 %	2.04 %	2.14 %	2.09 %
Less: Adjustments as noted above	(0.05) %	(0.06) %	— %	(0.03) %	(0.07) %
Noninterest expense (excluding adjustments noted above) to average assets (1)	2.07 %	2.12 %	2.04 %	2.11 %	2.02 %

This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
	Three months ended
(dollars in thousands, except per share data)	December	September	June	March	December	September
	2025	2025	2025	2025	2024	2024
Net income available to common shareholders	$ 165,983	169,338	154,742	136,610	147,461	142,893
Investment (gains) losses on sales of securities, net	4,099	—	—	12,512	(249)	—
ORE expense	346	146	137	58	58	56
FDIC special assessment	(7,500)	—	—	—	—	—
Recognition of mortgage servicing asset	—	—	—	—	—	—
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	—	—	—	—	—
Merger-related expenses	13,939	7,727	—	—	—	—
Tax effect on above noted adjustments (16)	(2,721)	(1,968)	(34)	(3,143)	48	(14)
Net income available to common shareholders excluding adjustments noted above	$ 174,146	175,243	154,844	146,037	147,318	142,935

Basic earnings per common share	$ 2.16	2.20	2.01	1.78	1.93	1.87
Less:
Investment (gains) losses on sales of securities, net	0.05	—	—	0.16	(0.01)	—
ORE expense	—	—	—	—	—	—
FDIC special assessment	(0.10)	—	—	—	—	—
Recognition of mortgage servicing asset	—	—	—	—	—	—
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	—	—	—	—	—
Merger-related expenses	0.18	0.10	—	—	—	—
Tax effect on above noted adjustments (16)	(0.03)	(0.02)	—	(0.04)	—	—
Basic earnings per common share excluding adjustments noted above	$ 2.26	2.28	2.01	1.90	1.92	1.87

Diluted earnings per common share	$ 2.13	2.19	2.00	1.77	1.91	1.86
Less:
Investment (gains) losses on sales of securities, net	0.05	—	—	0.16	(0.01)	—
ORE expense	—	—	—	—	—	—
FDIC special assessment	(0.10)	—	—	—	—	—
Recognition of mortgage servicing asset	—	—	—	—	—	—
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	—	—	—	—	—
Merger-related expenses	0.18	0.10	—	—	—	—
Tax effect on above noted adjustments (16)	(0.02)	(0.02)	—	(0.04)	—	—
Diluted earnings per common share excluding the adjustments noted above	$ 2.24	2.27	2.00	1.90	1.90	1.86

Revenue per diluted common share	$ 6.97	7.05	6.53	6.01	6.14	6.08
Adjustments due to revenue-impacting items as noted above	0.05	—	—	0.16	—	—
Revenue per diluted common share excluding adjustments due to revenue-impacting items as noted above	$ 7.03	7.05	6.53	6.18	6.14	6.08

Book value per common share at quarter end (7)	$ 87.90	85.60	82.79	81.57	80.46	79.33
Adjustment due to goodwill, core deposit and other intangible assets	(24.19)	(24.07)	(24.09)	(24.10)	(24.22)	(24.21)
Tangible book value per common share at quarter end (7)	$ 63.71	61.53	58.70	57.47	56.24	55.12

Equity method investment (15)
Fee income from BHG, net of amortization	$ 31,297	40,614	26,027	20,405	12,070	16,379
Funding cost to support investment	4,056	5,079	5,205	5,515	4,869	5,762
Pre-tax impact of BHG	27,241	35,535	20,822	14,890	7,201	10,617
Income tax expense at statutory rates (16)	6,810	8,884	5,206	3,723	1,800	2,654
Earnings attributable to BHG	$ 20,431	26,651	15,617	11,168	5,401	7,963
Basic earnings per common share attributable to BHG	$ 0.27	0.35	0.20	0.15	0.07	0.10
Diluted earnings per common share attributable to BHG	$ 0.26	0.34	0.20	0.15	0.07	0.10
This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
	Year ended
(dollars in thousands, except per share data)	December 31,
	2025	2024
Net income available to common shareholders	$ 626,673	459,864
Investment losses on sales of securities, net	16,611	71,854
ORE expense	687	220
FDIC special assessment	(7,500)	7,250
Recognition of mortgage servicing asset	—	(11,812)
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	28,400
Merger-related expenses	21,666	—
Tax effect on adjustments noted above (16)	(7,866)	(23,978)
Net income available to common shareholders excluding adjustments noted above	$ 650,271	531,798

Basic earnings per common share	$ 8.15	6.01
Less:
Investment losses on sales of securities, net	0.22	0.94
ORE expense	0.01	—
FDIC special assessment	(0.10)	0.10
Recognition of mortgage servicing asset	—	(0.15)
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	0.37
Merger-related expenses	0.28	—
Tax effect on above noted adjustments (16)	(0.10)	(0.31)
Basic earnings per common share excluding adjustments noted above	$ 8.46	6.96

Diluted earnings per common share	8.07	5.96
Less:
Investment losses on sales of securities, net	0.21	0.93
ORE expense	0.01	—
FDIC special assessment	(0.10)	0.09
Recognition of mortgage servicing asset	—	(0.15)
Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives	—	0.37
Merger-related expenses	0.28	—
Tax effect on above noted adjustments (16)	(0.10)	(0.31)
Diluted earnings per common share excluding the adjustments noted above	$ 8.37	6.89

Revenue per diluted common share	$ 26.45	22.52
Adjustments due to revenue-impacting items as noted above	0.21	0.78
Revenue per diluted common share excluding adjustments due to revenue-impacting items noted above	$ 26.66	23.30


Equity method investment (15)
Fee income from BHG, net of amortization	$ 118,343	63,172
Funding cost to support investment	16,126	19,777
Pre-tax impact of BHG	102,217	43,395
Income tax expense at statutory rates (16)	25,554	10,849
Earnings attributable to BHG	$ 76,663	32,546

Basic earnings per common share attributable to BHG	$ 1.00	0.43
Diluted earnings per common share attributable to BHG	$ 0.99	0.42

This information is preliminary and based on company data available at the time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
	Three months ended			Year ended
(dollars in thousands, except per share data)	December	September	December	December	December
	2025	2025	2024	2025	2024

Return on average assets (1)	1.16 %	1.22 %	1.15 %	1.15 %	0.93 %
Adjustments as noted above	0.06 %	0.04 %	— %	0.04 %	0.15 %
Return on average assets excluding adjustments noted above (1)	1.22 %	1.26 %	1.15 %	1.19 %	1.08 %

Tangible assets:
Total assets	$ 57,706,053	55,963,549	52,589,449	$ 57,706,053	52,589,449
Less: Goodwill	(1,848,904)	(1,848,904)	(1,849,260)	(1,848,904)	(1,849,260)
Core deposit and other intangible assets	(29,715)	(18,108)	(21,423)	(29,715)	(21,423)
Net tangible assets	$ 55,827,434	54,096,537	50,718,766	$ 55,827,434	50,718,766

Tangible common equity:
Total shareholders' equity	$ 7,043,715	6,856,192	6,431,881	$ 7,043,715	6,431,881
Less: Preferred shareholders' equity	(217,126)	(217,126)	(217,126)	(217,126)	(217,126)
Total common shareholders' equity	6,826,589	6,639,066	6,214,755	6,826,589	6,214,755
Less: Goodwill	(1,848,904)	(1,848,904)	(1,849,260)	(1,848,904)	(1,849,260)
Core deposit and other intangible assets	(29,715)	(18,108)	(21,423)	(29,715)	(21,423)
Net tangible common equity	$ 4,947,970	4,772,054	4,344,072	$ 4,947,970	4,344,072

Ratio of tangible common equity to tangible assets	8.86 %	8.82 %	8.57 %	8.86 %	8.57 %

Average tangible assets:
Average assets	$ 56,705,549	55,213,879	51,166,643	$ 54,580,662	49,446,853
Less: Average goodwill	(1,848,904)	(1,848,904)	(1,846,998)	(1,849,079)	(1,846,979)
Average core deposit and other intangible assets	(23,554)	(18,985)	(23,054)	(20,901)	(24,744)
Net average tangible assets	$ 54,833,091	53,345,990	49,296,591	$ 52,710,682	47,575,130

Return on average assets (1)	1.16 %	1.22 %	1.15 %	1.15 %	0.93 %
Adjustment due to goodwill, core deposit and other intangible assets	0.04 %	0.04 %	0.04 %	0.04 %	0.04 %
Return on average tangible assets (1)	1.20 %	1.26 %	1.19 %	1.19 %	0.97 %
Adjustments as noted above	0.06 %	0.04 %	— %	0.04 %	0.15 %
Return on average tangible assets excluding adjustments noted above (1)	1.26 %	1.30 %	1.19 %	1.23 %	1.12 %

Average tangible common equity:
Average shareholders' equity	$ 6,966,997	6,721,569	6,405,867	$ 6,702,824	6,223,844
Less: Average preferred equity	(217,126)	(217,126)	(217,126)	(217,126)	(217,126)
Average common equity	6,749,871	6,504,443	6,188,741	6,485,698	6,006,718
Less: Average goodwill	(1,848,904)	(1,848,904)	(1,846,998)	(1,849,079)	(1,846,979)
Average core deposit and other intangible assets	(23,554)	(18,985)	(23,054)	(20,901)	(24,744)
Net average tangible common equity	$ 4,877,413	4,636,554	4,318,689	$ 4,615,718	4,134,995

Return on average equity (1)	9.45 %	10.00 %	9.16 %	9.35 %	7.39 %
Adjustment due to average preferred shareholders' equity	0.30 %	0.33 %	0.32 %	0.31 %	0.27 %
Return on average common equity (1)	9.76 %	10.33 %	9.48 %	9.66 %	7.66 %
Adjustment due to goodwill, core deposit and other intangible assets	3.75 %	4.16 %	4.10 %	3.91 %	3.46 %
Return on average tangible common equity (1)	13.50 %	14.49 %	13.58 %	13.58 %	11.12 %
Adjustments as noted above	0.66 %	0.51 %	0.01 %	0.51 %	1.74 %
Return on average tangible common equity excluding adjustments noted above (1)	14.17 %	15.00 %	13.57 %	14.09 %	12.86 %


This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED

1. Ratios are presented on an annualized basis.
2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets.
3. Total revenue is equal to the sum of net interest income and noninterest income.
4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income.
5. Annualized net loan charge-offs to average loans ratios are computed by annualizing quarter-to-date net loan charge-offs and dividing the result by average loans for the quarter-to-date period.
6. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows:
Equity to total assets – End of period total shareholders' equity as a percentage of end of period assets.
Tangible common equity to tangible assets - End of period total shareholders' equity less end of period preferred stock, goodwill, core deposit and other intangibles as a percentage of end of period assets less end of period goodwill, core deposit and other intangibles.
Leverage – Tier I capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets.
Tier I risk-based – Tier I capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets.
Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets.
Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for credit losses.
Tier I common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered as a component of Tier 1 capital as a percentage of total risk-weighted assets.
7. Book value per common share computed by dividing total common shareholders' equity by common shares outstanding. Tangible book value per common share computed by dividing total common shareholders' equity, less goodwill, core deposit and other intangibles, by common shares outstanding.
8. Amounts are included in the statement of income in "Gains on mortgage loans sold, net", net of commissions paid on such amounts.
9. At fair value, based on information obtained from Pinnacle's third party broker/dealer for non-FDIC insured financial products and services.
10. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities.
11. Team member retention rate is computed by dividing the number of team members employed at quarter end less the number of team members that have resigned in the last 12 months by the number of team members employed at quarter end.
12. Adjusted pre-tax, pre-provision net revenue excludes the impact of ORE expenses and income, investment gains and losses on sales of securities, the impact of the FDIC special assessment, the recognition of the mortgage servicing asset, fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives and merger expenses.
13. Represents investment gains (losses) on sales and impairments, net occurring as a result of gains or losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis.
14. The dividend payout ratio is calculated as the sum of the annualized dividend rate for dividends paid on common shares divided by the trailing 12-months fully diluted earnings per common share as of the dividend declaration date.
15. Earnings from equity method investment includes the impact of the funding costs of the overall franchise calculated using the firm's subordinated and other borrowing rates. Income tax expense is calculated using statutory tax rates.
16. Tax effect calculated using the blended statutory rate of 25.00 percent for all periods.
17. Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report.

EX-99.3 4 pnfp_12312025xex993filin.htm EX-99.3 pnfp_12312025xex993filin

Earnings Results Fourth Quarter 2025 Exhibit 99.3

2 Forward-Looking Statements This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Pinnacle’s use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "predicts," "could," "should," "would," "intends," "targets," "estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Pinnacle's future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, statements on our expectations related to (1) the anticipated benefits and risks related to the recently completed business combination transaction between Synovus Financial Corp., a Georgia corporation (“Synovus”) and Pinnacle Financial Partners, Inc., a Tennessee corporation (“Legacy Pinnacle”), including the risk that the cost savings and revenue synergies from the transaction may not be fully realized or may take longer than anticipated to be realized, the risk that the integration of Legacy Pinnacle’s and Synovus’ respective businesses and operations will be materially delayed or will be more costly or difficult than expected, including as a result of unexpected factors or events, and risks related to management and oversight of the expanded business and operations of the combined company; (2) loan growth and loan mix; (3) deposit growth and mix; (4) net interest income and net interest margin; (5) revenue growth, including growth attributable to the company's investment in Bankers Healthcare Group ("BHG"); (6) non-interest expense; (7) credit trends and key credit performance metrics; (8) our future operating and financial performance; (9) our strategy and initiatives for future revenue growth, balance sheet optimization, capital management, and expense management; (10) our effective tax rate; (11) our capital position; and (12) our assumptions underlying these expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Pinnacle to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this presentation. Many of these factors are beyond Pinnacle's ability to control or predict. These forward-looking statements are based upon information presently known to Pinnacle's management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Pinnacle's periodic filings with the Securities and Exchange Commission, including its annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

3 Use of Legacy Pinnacle Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; return on average tangible common equity; adjusted return on average tangible common equity; adjusted non-interest revenue; adjusted total revenue taxable equivalent (TE); adjusted non-interest expense; adjusted tangible efficiency ratio; tangible common equity ratio; tangible book value per common share; and adjusted pre-provision net revenue (PPNR). The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; total non-interest revenue; total revenue; total non-interest expense; efficiency ratio-TE; total shareholders' equity to total assets ratio; book value per common share; and PPNR, respectively. Management believes that these non-GAAP financial measures provide meaningful additional information about Pinnacle to assist management and investors in evaluating Pinnacle's operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share and adjusted return on average assets are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Pinnacle's performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted non-interest revenue and adjusted total revenue TE are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on nonqualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The tangible common equity ratio is used by stakeholders to assess our capital position. Tangible book value per common share is used by stakeholders to assess our financial stability and value. Adjusted PPNR is used by management to evaluate PPNR exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Pinnacle's control, or cannot be reasonably predicted. For the same reasons, Pinnacle's management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

4 Use of Synovus Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; return on average tangible common equity; adjusted return on average tangible common equity; adjusted non-interest revenue; adjusted total revenue taxable equivalent (TE); adjusted non-interest expense; adjusted tangible efficiency ratio; tangible common equity ratio; tangible book value per common share; and adjusted pre-provision net revenue (PPNR). The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; total non-interest revenue; total revenue; total non-interest expense; efficiency ratio-TE; total shareholders' equity to total assets ratio; book value per common share; and PPNR, respectively. Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus' operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share and adjusted return on average assets are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus' performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted non-interest revenue and adjusted total revenue TE are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on nonqualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The tangible common equity ratio is used by stakeholders to assess our capital position. Tangible book value per common share is used by stakeholders to assess our financial stability and value. Adjusted PPNR is used by management to evaluate PPNR exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Synovus' control, or cannot be reasonably predicted. For the same reasons, Synovus' management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

5 Pinnacle Financial Partners • Highly Successful Operating and Recruiting Model That Generates Above-Peer Revenue, EPS and TBV Growth • One of the Most Economically Vibrant Footprints in the Banking Industry • Regional Bank Employer of Choice with Industry- Leading Client Service • Healthy Capital Generation Provides Strong Balance Sheet Growth and Capital Return Opportunities • Significant, Multi-Year Investments and Expertise Prepare PNFP Well for LFI Standards PNFP footprint population projected to grow ~2x faster than national average(1) (1) Source S&P Capital IQ Pro

6 Enriched ShareholdersEngaged Clients Legacy Pinnacle and Synovus Both Delivered in 2025 Sy no vu s Pi nn ac le 2025 2025 (1) Source: Coalition Greenwich Voice of Client – 2025 US Commercial Banking Study ($1-$500MM – Q3 2025 - Banking); Pinnacle NPS score (82) is #1 in its legacy footprint compared to the 8 largest banks by lead relationship share among businesses with $1-$500MM in revenue, while Synovus NPS score (60) is #3 in the legacy Synovus footprint compared to the 8 largest banks by lead relationship share among businesses with $1-$500MM in revenue; (2) Non-GAAP financial measure; see appendix for applicable reconciliation #4 Best Bank to Work For American Banker 4.2/5.0 #1 Employer of Choice in Our Markets Glassdoor #1 +35% / +22% 2025 YoY GAAP/ Adjusted EPS Growth(2) +76% / +28% Excited Team Members #3 2025 YoY GAAP/ Adjusted EPS Growth(2) Net Promoter Score(1) Net Promoter Score(1)

7 Adjusted Revenue, in Millions 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $— $250 $500 $750 Diluted Adjusted EPS 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $0.50 $1.00 $1.50 $2.00 $2.50 Tangible Book Value Per Share 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $25 $30 $35 $40 $45 $50 $55 $60 $65 Book Value Per Common Share 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $50 $55 $60 $65 $70 $75 $80 $85 $90 $95 Diluted Reported EPS 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 Reported Revenue, in Millions 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $— $250 $500 $750 Our Focus is Unchanged CAGR: 11% CAGR: 12% CAGR: 6% CAGR: 7% CAGR: 7% (1) Non-GAAP financial measures; see appendix for applicable reconciliations CAGR: 11% (Legacy Pinnacle Information) (1)(1) (1)

8 Period End Core Deposits, in Billions 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $— $10 $20 $30 $40 $50 NPAs/Loans + ORE 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 —% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% Past Due Loans/Total Loans 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 —% 0.05% 0.10% 0.15% 0.20% 0.25% NCOs/Average Loans 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 —% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% Classified Asset Ratio 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 —% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Period End Loans, in Billions 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $— $10 $20 $30 $40 $50 CAGR: 11% CAGR: 11% (1) Core deposits are non-interest-bearing deposits, interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits; the future core deposit definition will conform to legacy Synovus' definition which includes client time deposits >$250,000 Our Focus is Unchanged (Legacy Pinnacle Information) (1)

9 Question: How likely are you to recommend (Lead Provider) to a friend or colleague using a scale of 0-10 where "0" means Not At All Likely and "10" means Extremely Likely? Which bank or financial service provider do you consider your company's single most important or lead provider of banking services? Source: Coalition Greenwich Voice of Client – 2025 US Commercial Banking Study (Pinnacle/Synovus – Extended Combined Footprint (AL, DC, FL, GA, KY, NC, SC, TN, & VA - $1-500MM – Q3 2025 YTD - Banking). Net Promoter Score vs. Market Share Our Greatest Opportunity Large Market Share Banks –

10 Distributed accountability across teams Empowerment and collaboration at all levels People First Culture Geographic-Led Model Regional leadership driving growth Specialty businesses supporting and aiding expansion Corporate-Wide Incentive Plans Focused on achieving Revenue and EPS targets Alignment of rewards with performance outcomes Outsized Hiring of Revenue Producers Aggressive recruitment of top talent Strengthening front-line capabilities Risk Management Prudent client selection and credit risk management Compliance and adoption of risk framework to match size and complexity Reducing Bureaucracy Streamlined processes for ease of doing business Removing unnecessary layers for faster decisions Speed of Execution Rapid action supporting front-line and credit Prioritizing agility and responsiveness Performance Measurement and Analysis Technology and Solutions Modernization Data-driven insights for accountability Continuous improvement through metrics Upgrading platforms for efficiency Driving innovation and customer-centric solutions What Will Remain Intact

11 What Won't Happen Pinnacle Won't Become Another “Big Bank” Pinnacle Won't Lose Its “Secret Sauce” Our growth enables big-bank capabilities: advanced technology, a broader range of products, deeper capital strength, and the ability to serve clients wherever they are But what truly sets us apart is our small-bank heart: local decision-making, personal relationships, and a culture that puts people first Our Focus is not changing – it is on accelerated hiring, distinctive service and effective advice, it is about relationships over transactions, people over processes, and a war on bureaucracy Growth gives us resources, but culture gives us relevance...we will never trade one for the other SCALE WITH A SOUL A FINANCIAL SERVICES FIRM THAT JUST DOESN'T COMPETE - IT LEADS. NOT BECAUSE OF SIZE, BUT DUE TO FOCUS

Financial Highlights

13 Income Statement Summary (GAAP) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income $407,435 3% 12% Provision for Credit Losses $34,101 7% 15% Non-Interest Revenue $134,769 (9)% 21% Total Revenue $542,204 (1)% 14% Non-Interest Expense $302,656 0% 16% Pre-Provision Net Revenue $239,548 (1)% 12% Net Income Available to Common Shareholders $165,983 (2)% 13% Diluted EPS $2.13 (3)% 12% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights Income Statement Summary (Adjusted)(1) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income (TE)(2) $424,589 3% 13% Provision for Credit Losses $34,101 7% 15% Adjusted Non-Interest Revenue $138,868 (6)% 25% Adjusted Total Revenue (TE)(2) $563,457 1% 16% Adjusted Non-Interest Expense $295,871 0% 13% Adjusted Pre-Provision Net Revenue (TE)(2) $267,586 1% 19% Adjusted Net Income Available to Common Shareholders $174,146 (1)% 18% Adjusted Diluted EPS $2.24 (1)% 18%

14 Period-End Balance Sheet Growth ($ in millions) 4Q25 % Change QoQ % Change YoY Loans $39,154 3% 10% Deposits $47,397 4% 11% Core Deposits(1) $41,928 3% 10% Non-Interest Bearing Deposits $9,047 1% 11% (1) Core deposits are non-interest-bearing deposits, interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits; the future core deposit definition will conform to legacy Synovus' definition which includes client time deposits >$250,000; (2) Annualized; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) TE - Taxable equivalent; (5) 4Q25 capital ratios are preliminary Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights Profitability Metrics 4Q25 3Q25 4Q24 ROAA(2) 1.16% 1.22% 1.15% Adjusted ROAA(2)(3) 1.22% 1.26% 1.15% ROCE(2) 9.76% 10.33% 9.48% ROTCE(2)(3) 13.50% 14.49% 13.58% Adjusted ROTCE(2)(3) 14.17% 15.00% 13.57% Net Interest Margin(2) 3.27% 3.26% 3.22% Efficiency Ratio - TE(4) 54.11% 54.13% 53.73% Adjusted Efficiency Ratio(3) 52.51% 52.72% 53.75% Credit & Capital Metrics 4Q25 3Q25 4Q24 NCOs/Average Loans(2) 0.28% 0.18% 0.24% NPLs/Loans 0.34% 0.39% 0.42% Allowance for Credit Losses % 1.13% 1.15% 1.17% CET1 Ratio(5) 10.88% 10.83% 10.80%

15 Income Statement Summary (GAAP) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income $1,548,261 13% Provision for Credit Losses $107,245 (11)% Non-Interest Revenue $506,590 37% Total Revenue $2,054,851 18% Non-Interest Expense $1,167,728 13% Pre-Provision Net Revenue $887,123 26% Net Income Available to Common Shareholders $626,673 36% Diluted EPS $8.07 35% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Legacy Pinnacle's 2025 Financial Highlights Income Statement Summary (Adjusted)(1) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income (TE)(2) $1,606,967 14% Provision for Credit Losses $107,245 (11)% Adjusted Non-Interest Revenue $523,201 21% Adjusted Total Revenue (TE)(2) $2,130,168 16% Adjusted Non-Interest Expense $1,152,875 15% Adjusted Pre-Provision Net Revenue (TE)(2) $977,293 16% Adjusted Net Income Available to Common Shareholders $650,271 22% Adjusted Diluted EPS $8.37 22%

16 Period-End Balance Sheet Growth ($ in millions) 2025 % Change YoY Loans $39,154 10% Deposits $47,397 11% Core Deposits(1) $41,928 10% Non-Interest Bearing Deposits $9,047 11% Legacy Pinnacle's 2025 Financial Highlights Profitability Metrics 2025 2024 ROAA 1.15% 0.93% Adjusted ROAA(2) 1.19% 1.08% ROCE 9.66% 7.66% ROTCE(2) 13.58% 11.12% Adjusted ROTCE(2) 14.09% 12.86% Net Interest Margin 3.24% 3.16% Efficiency Ratio - TE(3) 55.25% 58.00% Adjusted Efficiency Ratio(2) 54.12% 54.17% Credit & Capital Metrics 2025 2024 NCOs/Average Loans 0.21% 0.23% NPLs/Loans 0.34% 0.42% Allowance for Credit Losses % 1.13% 1.17% CET1 Ratio(4) 10.88% 10.80% (1) Core deposits are non-interest-bearing deposits, interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits; the future core deposit definition will conform to legacy Synovus' definition which includes client time deposits >$250,000; (2) Non-GAAP financial measure; see appendix for applicable reconciliation; (3) TE - Taxable equivalent; (4) 4Q25 capital ratios are preliminary

17 Income Statement Summary (GAAP) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income $484,577 2% 7% Provision for Credit Losses $33,015 52% 0% Non-Interest Revenue $145,094 3% 16% Total Revenue $629,671 2% 8% Non-Interest Expense $349,594 0% 13% Pre-Provision Net Revenue $280,077 5% 3% Net Income Available to Common Shareholders $171,054 (8)% (4)% Diluted EPS $1.22 (8)% (2)% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Synovus' Fourth Quarter 2025 Financial Highlights Income Statement Summary (Adjusted)(1) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income (TE)(2) $486,209 2% 7% Provision for Credit Losses $33,015 52% 0% Adjusted Non-Interest Revenue $144,250 6% 16% Adjusted Total Revenue (TE)(2) $630,459 3% 9% Adjusted Non-Interest Expense $325,981 2% 5% Adjusted Pre-Provision Net Revenue $304,478 4% 12% Adjusted Net Income Available to Common Shareholders $202,551 (1)% 14% Adjusted Diluted EPS $1.45 (1)% 16%

18 Period-End Balance Sheet Growth ($ in millions) 4Q25 % Change QoQ % Change YoY Loans $44,626 2% 5% Deposits $51,324 3% 0% Core Deposits(1) $45,872 2% (1)% Non-Interest Bearing Deposits $11,202 1% (3)% (1) Excludes brokered; (2) Annualized; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) TE - Taxable equivalent;; (5) 4Q25 capital ratios are preliminary Synovus' Fourth Quarter 2025 Financial Highlights Profitability Metrics 4Q25 3Q25 4Q24 ROAA(2) 1.18% 1.30% 1.25% Adjusted ROAA(2)(3) 1.39% 1.42% 1.25% ROCE(2) 12.62% 14.36% 14.75% ROTCE(2)(3) 14.09% 16.11% 16.72% Adjusted ROTCE(2)(3) 16.66% 17.69% 16.67% Net Interest Margin(2) 3.45% 3.41% 3.28% Efficiency Ratio - TE(4) 55.38% 56.51% 53.15% Adjusted Efficiency Ratio(3) 51.29% 51.83% 52.69% Credit & Capital Metrics 4Q25 3Q25 4Q24 NCOs/Average Loans(2) 0.22% 0.14% 0.26% NPLs/Loans 0.57% 0.48% 0.73% Allowance for Credit Losses % 1.19% 1.19% 1.27% CET1 Ratio(5) 11.28% 11.22% 10.84%

19 Income Statement Summary (GAAP) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income $1,873,217 7% Provision for Credit Losses $68,871 (50)% Non-Interest Revenue $536,392 124% Total Revenue $2,409,609 21% Non-Interest Expense $1,322,058 6% Pre-Provision Net Revenue $1,087,551 47% Net Income Available to Common Shareholders $746,655 70% Diluted EPS $5.33 76% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Synovus' 2025 Financial Highlights Income Statement Summary (Adjusted)(1) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income (TE)(2) $1,879,824 7% Provision for Credit Losses $68,871 (50)% Adjusted Non-Interest Revenue $528,755 8% Adjusted Total Revenue (TE)(2) $2,408,579 7% Adjusted Non-Interest Expense $1,266,493 3% Adjusted Pre-Provision Net Revenue $1,142,086 13% Adjusted Net Income Available to Common Shareholders $797,235 24% Adjusted Diluted EPS $5.69 28%

20 Period-End Balance Sheet Growth ($ in millions) 2025 % Change YoY Loans $44,626 5% Deposits $51,324 0% Core Deposits(1) $45,872 (1)% Non-Interest Bearing Deposits $11,202 (3)% Synovus' 2025 Financial Highlights Profitability Metrics 2025 2024 ROAA 1.31% 0.81% Adjusted ROAA(2) 1.40% 1.15% ROCE 14.73% 9.50% ROTCE(2) 16.55% 10.91% Adjusted ROTCE(2) 17.66% 15.84% Net Interest Margin 3.39% 3.19% Efficiency Ratio - TE(3) 54.72% 62.54% Adjusted Efficiency Ratio(2) 52.15% 54.33% Credit & Capital Metrics 2025 2024 NCOs/Average Loans 0.18% 0.31% NPLs/Loans 0.57% 0.73% Allowance for Credit Losses % 1.19% 1.27% CET1 Ratio(4) 11.28% 10.84% (1) Excludes brokered; (2) Non-GAAP financial measure; see appendix for applicable reconciliation; (3) TE - Taxable equivalent; (4) 4Q25 capital ratios are preliminary

2026 Outlook

22 Our Incentives Are Aligned Determinants of Short-Term Incentives Determinants of Long-Term Incentives Adjusted Revenue(1) Growth Adjusted EPS(1) Growth Adjusted Return on Tangible Common Equity(1) Tangible Book Value(1) Growth Internal Goal Setting 2026 Guidance Aligned with Internal Goal Setting and External Benchmarking (1) Non-GAAP financial measure; see cautionary language on slides 3 and 4 and appendix for applicable reconciliation Total Shareholder Return

23 Estimated Closing Vs. Announcement Merger Details Estimates at Announcement Current Estimate Non-Interest Expense Synergies(1) $250MM No change Non-Interest Expense Synergies Timing(1) 50% in 2026, 75% in 2027, 100% in 2028 40% in 2026, 75% in 2027, 100% in 2028 Merger-Related Expense(2) $720MM inclusive of LFI expense No material change(2) Operational Conversion Date First Quarter 2027 March 2027 CET1 Ratio at March 31, 2026 ~9.8% ~10.0% Loan Mark / Year 1 PAA(3)(4)(5) $874MM / $159MM ~$800MM / $90MM- $110MM(4)(5) Securities Mark / Year 1 PAA(3) $946MM / $115MM $813MM/1Q26 repositioning captures market yields while eliminating 98% of securities-related PAA Wealth Intangible / Year 1 Amortization $197MM / $20MM No material change Fixed Assets Write Up / Year 1 Incremental Depreciation $237MM / $16MM No material change Core Deposit Intangible / Year 1 Amortization $1.023B / $186MM ~$825MM / ~$150MM Time Deposit Mark / Year 1 PAA(3) $4MM / Full Accretion Year 1 No material change Gross Credit Mark on Synovus Loans(5) $483MM or 1.1% of SNV gross loans at 6/30/25 No material change (1) $250 MM of expense synergies are net of dyssynergies (e.g., LFI costs); synergy timing represents in-year savings for 2026, 2027 and 2028; (2) In addition to the $720MM of merger-related expense which should be recognized through 2027, ~$68MM of expense will be recognized in 1Q26 associated with outstanding legacy PNFP single trigger equity awards; (3) PAA - Purchase Accounting Accretion; (4) Lower Year 1 accretion relative to the estimate at announcement is a result of a lower loan mark as well as a shift in the estimate of the mark to longer duration loans; (5) Loan mark and Year 1 accretion estimate includes the impact of the elimination of deferred loan fees/costs in purchase accounting. There will be no credit PAA, as PNFP is electing the new accounting provision that does not require the historical double count

24 Notes Period-End Loans Period-End Deposits Adjusted Revenue(1) Adjusted Non- Interest Expense(1) • Assumes NIM range of 3.45% - 3.55% in 2026, inclusive of PAA • Assumes two 25-basis point Fed Funds cuts in 2026 • Assumes adjusted non-interest revenue(1) of $1.10B - $1.15B • Assumes BHG investment revenue of $125MM - $135MM • Includes ~$175MM of estimated total intangible amortization in 2026 (net of amortization eliminated in purchase accounting) • Assumes 40% of $250MM net cost savings realized in 2026 • Inclusive of merger synergies, adjusted NIE(1) is expected to be relatively stable QoQ in 2Q26, 3Q26 and 4Q26 versus 1Q26 • Includes ~$10MM of annual expense that historically was recorded as contra-revenue by Synovus • Upper end of expense range aligned with top end of revenue range 2026 Outlook • Supported by revenue producer hiring, specialty lines and legacy market growth • Represents 9%-11% loan growth (excluding the Day 1 purchase accounting loan mark) $106.5B - $108.5B $5.00B - $5.20B $2.675B - $2.775B 20% - 21% 2026 Outlook $91.0B - $93.0B • Supported by revenue producer hiring, specialty lines and legacy market growth • Represents relatively stable deposit mix • Growth should accelerate throughout the year as seasonal benefits and integration momentum support 2H26 growth NCOs/ Average Loans CET1 Ratio 0.20% - 0.25% 10.25% - 10.75% • Assumes relatively stable economic environment • 1Q26E NCOs are likely to be similar to combined company 4Q25 NCOs (1) Non-GAAP financial measure; see cautionary language on slides 3 and 4 and appendix for applicable reconciliation • ETR is based on earnings adjusted for merger-related costs • Assumes similar mix of historical tax credits and tax-exempt income Adjusted Effective Tax Rate • Near-term focus on capital accretion and prioritizing capital deployment via organic growth • Incorporates increase in Common Dividend to $0.50/share per quarter (starting in 1Q26)

25 25% 75% 35% 30% 35% 2026E Balance Sheet Growth Attribution Loan Growth Drivers Deposit Growth Drivers Recent Revenue- Producing Hires Legacy Markets/ Revenue Producers Legacy Markets/ Revenue Producers Revenue-Producing Hires Broad-based contribution from legacy SNV and Pinnacle specialty businesses(1) Growth from longer tenured revenue producers / established markets Growth from hires made within the last 3 years Growth from longer-tenured revenue producers, supported by market-based specialty lines Growth from hires made within the last 3 years Specialty Businesses (1) Meaningful contributors include Structured Lending, Franchise Finance, Corporate & Investment Banking, Music Sports & Entertainment, Equipment Finance, Dealer Finance, Specialty Commercial Real Estate, and Solar Finance

26 Consistent with 2026 guidance Expected to be finalized in March 2026; includes valuation marks, goodwill impacts, DTA/DTL, etc. 0.3%-0.4% Estimated Common Equity Tier 1 Ratio at March 31, 2026 ~11.1% Combined PNFP & SNV CET1 Ratio(1) 12/31/25 ~ -1.1% Day 1 Marks & Valuation ~ -0.2%1Q26 Merger Expense ~ -0.2% Loan Growth 1Q26 Core EPS +/- 0.1% ~10.0% Pro Forma PNFP CET1 Ratio 3/31/26 (1) 12/31/25 CET1 Ratio based on preliminary estimates for each of legacy Pinnacle and Synovus; does not represent an official reported regulatory ratio; Note: CET1 change attribution is illustrative and is based on preliminary estimates and projections, as of January 15, 2026 Dividend & Other

27 230 217 250 275 161 134 69 83 Legacy PNFP Legacy SNV New PNFP 2024A 2025A 2026E 2027E Revenue Producer Hiring Should Remain Outsized *Record Year for PNFP hiring model 225-250 250-275

28 Estimated Revenue Synergies of $100MM - $130MM Note: Relationship Expansion, Capital Markets, Specialty Expertise and Treasury Capabilities information reflects 2025 PNFP and SNV Expected To Be Realized Over the Next 2-3 Years

29 Merger-Related Expense Synergies 2026 Priorities Strong Period-End Loan and Core Deposit Growth Balanced Loan and Deposit Growth New Deposit and Loan Processes and Systems Cross-organizational initiative to define new state processes New Client Onboarding Onboarding high-impact clients on end-state platform Revenue Synergies and Optimization Efforts Cross-pollination and delivery of best of both bank strengths Realize 40% of Expense Synergies Tech and Product Conversion Preparation Plan and prepare for CD1, with product and tech mapping

Appendix

Legacy Pinnacle Standalone Fourth Quarter 2025 Supplemental Information

32 Market Share Gains Continue to Drive Loan Growth (1) Excludes leases, credit cards and loans HFS; loan yields exclude tax equivalent income adjustments; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products Fixed Rate Loan Maturities/Cash Flow ($ in millions) 5.12% 4.99% 4.94% 4.89% 4.82% 4.76% FX Loan CFLW Mat Rate 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 $0 $400 $800 $1,200 4.50% 4.80% 5.10% 5.40% Loan Yields Average Loan Growth and Yields ($ in millions) $2 2, 52 5 $2 2, 84 8 $2 3, 18 0 $2 2, 98 6 $2 3, 22 6 $2 3, 84 9 $2 5, 39 7 $2 7, 02 1 $2 8, 40 2 $2 9, 63 4 $3 0, 88 2 $3 1, 53 0 $3 2, 37 2 $3 3, 04 2 $3 3, 51 7 $3 4, 08 2 $3 4, 98 1 $3 6, 04 2 $3 6, 96 8 $3 7, 69 3 $3 8, 65 7 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% • Period-end loans increased 3% QoQ in 4Q25 compared to 2% in 3Q25 • C&I growth remained strong at 5% QoQ compared to 4% in 3Q25; other loans, including commercial real estate loans, increased 2% QoQ • 4Q25 loan origination rates remained well above current portfolio yields Highlights Average Loans Yield

33 Highlights • Period-end deposits, excluding brokered, increased 3% QoQ • Period-end noninterest-bearing deposits increased 1% QoQ to 19% of total deposits • Declining rate deposit betas continue to match levels seen during rising rates while variable-rate loan beta improved due to rate cut/repricing timing; negative fixed-rate loan beta remains a positive NIM tailwind Deposit Growth Remains a Key Focus Sept. 30, 2025 EOP Rates Sept. 30, 2025 % of Totals Dec. 31, 2025 EOP Rates Dec. 31, 2025 % of Totals Noninterest bearing --- 20% --- 19% Interest-bearing: Rate sheet 0.77% 13% 0.64% 12% Negotiated 2.80% 3% 2.39% 4% Indexed 3.45% 54% 3.04% 54% CDs 3.70% 10% 3.63% 11% Total IBD 3.03% 80% 2.73% 81% Total Deposits 2.43% 100% 2.21% 100% Cumulative Betas (EOP rate comparisons) “Up Rate Cycle” Dec. 31, 2021 - Sept. 18, 2024 “Down Rate Cycle” Sept. 18, 2024 - Dec. 31, 2025 Fed funds effective rate, at EOP 0.08% to 5.33% 5.33% to 3.64% Variable Rate Loans 85% 75% Fixed Rate Loans 15% (19)% Total Loans 59% 42% Int Checking, Savings, Money Market 69% 71% Time Deposits 75% 44% Total Interest-Bearing Deposits 70% 67% Total Deposits 56% 53% Average Deposit Growth ($ in millions) $2 7, 19 3 $2 7, 62 1 $2 8, 01 4 $2 8, 74 0 $3 0, 03 4 $3 1, 53 9 $3 1, 48 4 $3 3, 10 8 $3 4, 17 7 $3 5, 29 2 $3 6, 35 6 $3 8, 07 8 $3 8, 51 6 $3 8, 99 6 $3 9, 45 4 $4 0, 10 1 $4 1, 68 2 $4 3, 01 9 $4 4, 23 4 $4 5, 47 9 $4 6, 65 8 Avg. Deposits Cost of Deposits 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $10,000 $20,000 $30,000 $40,000 $50,000 —% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00%

34 Loan Growth and Higher NIM Drive Strong NII Growth Net Interest Income & Net Interest Margin ($ in millions) NII NIM 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $175 $200 $225 $250 $275 $300 $325 $350 $375 $400 2.75% 3.00% 3.25% 3.50% 3.75% Quarterly Average Securities ($ in millions) Avg. Securities Yield 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 $9,500 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% • Net interest income grew 3% QoQ on solid earning asset growth and modest NIM expansion • Net interest margin expanded 1 bp to 3.27% Highlights

35(1) Adjusted non-interest revenue is a non-GAAP financial measure that excludes gains and losses on sales of investment securities. Non-GAAP financial measures; see appendix for applicable reconciliations Non-Interest Revenue Growth Remains Strong ($ in Thousands) 4Q25 3Q25 4Q24 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $ 18,720 $ 18,290 $ 15,175 9% 23% Investment services 22,340 23,910 19,233 (26)% 16% Insurance commissions 3,142 4,016 2,900 (87)% 8% Gains on mortgage loans sold, net 1,347 1,828 2,344 (>100%) (43)% Gains (losses) on sales of investment securities, net (4,099) — 249 NM (>100%) Trust fees 11,415 10,316 9,098 43% 25% Income from equity method investment (BHG) 31,297 40,614 12,070 (92)% >100% Gains on sale of fixed assets 142 — 38 NM >100% Other: Interchange and other consumer fees 22,706 20,031 19,731 53% 15% Bank-owned life insurance 12,208 12,011 9,830 7% 24% Loan swap fees 2,397 2,544 3,112 (23)% (23)% SBA loans sales 152 1,384 870 (>100%) (83)% Income from other equity investments 4,210 4,401 4,737 (17)% (11)% Other 8,792 8,593 12,158 9% (28)% Total noninterest income $ 134,769 $ 147,938 $ 111,545 (36)% 21% Non-interest income/Average Assets 0.94 % 1.06 % 0.87 % (45)% 8% Adjusted non-interest revenue(1) $ 138,868 $ 147,938 $ 111,296 (25)% 25% Adjusted non-interest revenue(1)/Total Avg. Assets 0.97 % 1.06 % 0.87 % (34)% 11% • Wealth management fee categories collectively increased 18% year over year • Service charges jumped 9% from 3Q25 and 23% year over year • BHG-related income of $31MM was in line with expectations communicated in October and grew sharply year over year Highlights

36 (1) Adjusted noninterest expense is a non-GAAP financial measure that excludes the impact of ORE expense (income), the FDIC special assessment and merger-related expenses; (2) Adjusted efficiency ratio is a non-GAAP financial measure that excludes the impact of ORE expense (income), the FDIC special assessment, gains and losses on sales of investment securities and merger-related expenses. Non-GAAP financial measures; see appendix for applicable reconciliations Non-Interest Expense Impacted by Hiring Model ($ in Thousands) 4Q25 3Q25 4Q24 Linked-Quarter Annualized Growth % Year-over-Year Growth % `````` Salaries and commissions $ 118,333 $ 115,864 $ 105,265 9% 12% Cash and equity incentives 37,332 45,483 36,609 (72)% 2% Employee benefits and other 25,430 25,654 22,796 (3)% 12% Total personnel costs $ 181,095 $ 187,001 $ 164,670 (13)% 10% Equipment and occupancy 52,167 48,910 42,756 27% 22% Other real estate, net 346 146 58 >100% >100% Marketing and other business development 12,011 7,902 8,168 >100% 47% Postage and supplies 3,269 3,401 3,178 (16)% 3% Amortization of intangibles 1,393 1,398 1,544 (1)% (10)% Merger-related expenses 13,939 7,727 — >100% NM Other noninterest expense: Deposit related expense 9,796 18,721 16,015 >(100)% (39)% Lending related expense 18,194 16,909 16,639 30% 9% Wealth management expense 1,060 1,039 880 8% 20% Other noninterest expense 9,386 9,985 7,989 (24)% 17% Total other noninterest expense $ 38,436 $ 46,654 $ 41,523 (70)% (7)% Total noninterest expense $ 302,656 $ 303,139 $ 261,897 (1)% 16% Efficiency ratio 55.82 % 55.64 % 55.10 % 1% 1% Noninterest expense/Total average assets 2.12 % 2.18 % 2.04 % (11)% 4% Adjusted non-interest expense(1) $ 295,871 $ 295,266 $ 261,839 1% 13% Adjusted efficiency ratio(2) 54.16 % 54.20 % 55.11 % 0% (2)% Adjusted non-interest expense(1)/Avg. assets 2.07 % 2.12 % 2.04 % (9)% 1% Headcount (FTE) 3,709.0 3,657.5 3,565.5 6% 4% Highlights • Personnel costs reflect the impact of increased headcount and merit raises since January 1, 2025 • Cash incentives in 4Q25 reflect the resetting of estimated incentive payouts for 2025. Cash incentive expense is adjusted each quarter to reflect the anticipated payout percentage for the annual cash incentive plan. In 4Q25, we accrued incentives at 125% of target. • Merger-related charges incurred in 2H25 were $21.7MM

37 • NCOs were 0.28% in 4Q25 • 63% of NCOs in 4Q25 were from a single non-owner occupied CRE credit charge- off totaling $16.9MM • NPAs declined QoQ to 0.36% in 4Q25 Credit Performance Remains Healthy NCOs/Average Loans 0.14% 0.17% 0.17% 0.24% 0.28% 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 NPA/Loans & ORE 0.17% 0.16% 0.27% 0.42% 0.36% 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Classified Asset Ratio 4.1% 2.4% 5.2% 3.8% 3.5% 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Potential Problem Loans 0.47% 0.19% 0.39% 0.13% 0.11% 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Past Dues as a % of Total Loans 0.09% 0.15% 0.23% 0.15% 0.14% 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 Highlights

38 PNFP CRE & Construction NCO ($ in millions) and NCO % $(0.3) $(0.3) $(1.2) $(0.1) $(0.4) $2.0 $1.1 $0.3 $12.6 $— $0.1 $0.5 —% (0.01)% (0.03)% (0.02)% (0.02)% 0.07% 0.05% 0.04% 0.11% —% —% 0.01% 0.15% NCO ($s) NCO % Dec 22 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 $(5.0) $— $5.0 $10.0 $15.0 CRE Loan Portfolio • Continued strong credit quality with minimal past due accruing loans and 98.6% of portfolio graded pass • Softness in investor demand for NOOCRE(1) loans due to evolving market conditions continues to keep new construction starts down • Strong equity positions in the CRE portfolio help protect against slower stabilization periods Note: Values weighted by commitment; LTV = current commitment as of 12/31/25 divided by appraised value from origination or renewal; Metrics represent risk graded loans that cover approximately 98% of CRE & Construction Loans in the property types shown; (1) NOOCRE = Non-owner-occupied commercial real estate Key Property Metrics Property All Properties Construction Types LTV % DSC Ratio LTC % Multifamily 49.6% 1.47 64.0% Warehouse 51.4% 1.69 63.4% Retail 53.5% 1.64 68.5% Prof. Office 52.9% 1.71 64.3% Hospitality 49.3% 2.04 64.2% PNFP CRE & Construction Accruing PD, Classified, and Non-Accruals 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% —% 0.01% 0.02% 0.01%0.02% 0.05% 0.23% 0.22% 0.22% 0.16% 0.15% 0.12% 0.19% 0.18% 0.18% 0.12% —% —% 0.13% 0.16% 0.12% 0.12% 0.13% 0.20% 0.19% 0.13% Past Dues (Accruing) Classified Loans Non-Accrual Dec 22 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Sep 24 Dec 24 Mar 25 Jun 25 Sep 25 Dec 25 Highlights

39 NOOCRE/Construction 100/300 Ratio Trends 86% 84% 71% 58% 164% 175% 172% 163% 100% Ratio - Target <70% 300% Ratio - Target <225% 2022 2023 2024 2025 —% 50% 100% 150% 200% 250% 300% CRE Loan Portfolio • Over 91% of NOOCRE Portfolio is in Pinnacle’s attractive Southeastern demographic markets • Reduced construction and land development loans as a percentage of total risk-based capital to 58% in 4Q25 • Remain cautious on 1-4 single family residential guidance lines while open to strategic opportunities in Pinnacle’s newer markets • An elevated cost environment continues to challenge projects’ return on cost and is suppressing overall new development pipelines from historical highs. An active senior debt market combined with limited number of new opportunities has resulted in a highly competitive landscape 4Q25 NOOCRE & Construction Balances/Total Loans 9% 5% 5% 2% 2% 2% 1% 1% Multi fam ily Wareh ous e Ret ail Pro fess iona l Of fice 1-4 Fam ily Hos pita lity Sr. H ous ing & Skil led Nur sing Medic al Offi ce —% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% Highlights

40 4Q25 Multifamily Balances by Property Location 12% 11% 8% 8% 7% 5% 4% 4% 4% 3% Charlotte NC Nashville TN Raleigh NC Atlanta GA Orlando FL Charleston SC Austin TX Knoxville TN Chattanooga TN Huntsville AL —% 2% 4% 6% 8% 10% 12% 14% Multifamily Highlights (DRAFT) (1) Balances include NOOCRE & Construction; (2) Balances include CRE & Construction Multifamily Loan Portfolio Highlights • 95% is located within the PNFP footprint • 47% are MF Construction loans (by commitment): o Average number of units - 300 ($20MM+ Construction) o Typically, 4 & 5-star, garden style apartments o Located in core urban and suburban Southeastern markets with limited amount of central business district projects • Maturities will create a downward draft on CRE balances. The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures. • $34.5MM past due balances; 98% of risk rated loans are pass • 18 loans at Dec. 31, 2025 with commitments greater than $40MM; Largest loan balance at Dec. 31, 2025 was $52.6MM Loan Size (by Comm.) Loan Count % of Balances % of Commitments Loan Age (Yrs) Unit Count (Avg) Co ns tr uc ti on Below $1MM 3 0% 0% 0.7 36 $1MM - $5MM 7 0% 0% 1.4 52 $5MM - $10MM 3 1% 1% 2.1 117 $10MM - $20MM 13 3% 5% 1.7 203 $20MM - $40MM 52 24% 36% 1.7 284 Above $40MM 5 4% 5% 2.4 316 Construction Subtotal 83 32% 47% 1.7 253 Te rm Below $1MM 152 2% 1% 6.6 20 $1MM - $5MM 66 4% 3% 5.0 64 $5MM - $10MM 20 4% 3% 4.6 183 $10MM - $20MM 16 6% 5% 4.0 161 $20MM - $40MM 39 35% 28% 4.0 325 Above $40MM 13 17% 13% 3.6 289 Term Subtotal 306 68% 53% 5.5 151 Grand Total 389 100% 100% 4.7 183 4Q25 Multifamily Balances by Maturity Year 7% 4% 14% 26% 50% —% 10% 20% 30% 40% 50% 60% After 2029 2029 2028 2027 2026 (2) (1)

41 4Q25 Warehouse Balances by Property Location 10% 7% 6% 4% 4% 3% 3% 3% 3% 3% Charlotte NC Nashville TN Atlanta GA Asheville NC Spartanburg SC Baltimore MD Greensboro NC Winchester VA Indianapolis IN Cincinnati OH —% 2% 4% 6% 8% 10% 12% Multifamily Highlights (DRAFT)Warehouse Loan Portfolio Highlights • Industrial production primarily focuses on construction opportunities with top-tier development platforms • Conservative loan basis exhibiting an average LTV of 51% and an average LTC of 63% for construction • Maturities will create a downward draft on CRE Balances. The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures. • Disciplined underwriting using un-trended rents has offset the increased costs of today’s higher rate environment • $0 past due balances; 99.9% of risk rated loans are pass • 5 loans with commitments greater than $35MM at Dec. 31, 2025. Largest loan balance was $52.3MM at Dec. 31, 2025 Loan Size (by Comm.) Loan Count % of Balances % of Commitments Loan Age (Yrs) Square Feet (Avg) Co ns tr uc ti on Below $1MM 1 0% 0% 3.0 0 $1MM - $5MM 11 1% 1% 1.4 92,251 $5MM - $10MM 5 1% 1% 1.5 138,477 $20MM 22 7% 12% 0.9 183,213 $35MM 27 8% 25% 1.1 417,112 Above $35MM 1 0% 1% 0.5 332,520 Construction Subtotal 67 18% 40% 1.1 273,463 Te rm Below $1MM 171 4% 3% 4.7 30,535 $1MM - $5MM 121 14% 9% 4.7 85,586 $5MM - $10MM 28 11% 7% 3.8 141,642 $20MM 19 12% 9% 3.3 221,370 $35MM 26 33% 26% 3.2 516,764 Above $35MM 4 9% 6% 4.1 799,560 Term Subtotal 369 83% 60% 4.9 131,943 Grand Total 436 100% 100% 4.3 158,814 4Q25 Warehouse Balances by Maturity Year 11% 5% 15% 28% 40% —% 5% 10% 15% 20% 25% 30% 35% 40% 45% After 2029 2029 2028 2027 2026

42 Multifamily Highlights (DRAFT) • 95% of Professional Office CRE properties are in the legacy PNFP footprint. • The concentration in Nashville is primarily due to the participation in the Nashville Yards project (approximately 13% of the 37%). The loan consists of 3 office towers; 2 are 100% leased to investment grade tenants with favorable leases and the third is PNFP’s office and is 70% leased. • Granular office portfolio that represents 2.4% of total loans • Only 9 loans > $20MM ◦ Average commitment of $32.4MM and average balance of $28.9MM ◦ No spec construction, pre-leasing > 50% • Remaining 464 loans have an average outstanding balance of $1.44MM • LTV of 53%, LTC of 64%, Stabilized Occupancy of 90% • $68.7MM past due balances; 97% of risk rated loans are pass • 4 loans with commitments greater than $35MM at Dec. 31, 2025. Largest office loan balance was $44.MM at Dec. 31, 2025. Professional Office Loan Portfolio Highlights Loan Size (by Comm.) Loan Count % of Balances % of Commitments Loan Age (Yrs) Square Feet (Avg) Co ns tr uc ti on Below $1MM 2 0% 0% 7.3 97,014 $1MM - $5MM 3 1% 1% 1.9 89,810 $5MM - $10MM 1 1% 1% 2.3 0 $10MM - $20MM 1 2% 2% 4.3 551,103 $20MM - $35MM 0 0% 0% 0.0 0 Above $35MM 2 7% 8% 5.6 573,114 Construction Subtotal 9 10% 11% 4.2 270,099 Te rm Below $1MM 310 12% 11% 6.4 11,924 $1MM - $5MM 119 29% 28% 5.4 31,664 $5MM - $10MM 15 11% 11% 5.4 64,816 $10MM - $20MM 13 18% 18% 5.1 132,046 $20MM - $35MM 5 13% 13% 5.5 469,101 Above $35MM 2 8% 9% 5.8 511,299 Term Subtotal 464 90% 89% 6.0 44,789 Grand Total 473 100% 100% 6.0 52,459 4Q25 Professional Office Balances by Property Location 37% 12% 6% 6% 6% 5% 3% 3% 3% 2% Nashville TN Raleigh NC Charlotte NC Durham NC Charleston SC Greenville SC Winston- Salem NC Knoxville TN Seattle WA Greensboro NC —% 10% 20% 30% 40% 4Q25 Professional Office Balances by Maturity Year 16% 6% 25% 22% 31% —% 5% 10% 15% 20% 25% 30% 35% After 2029 2029 2028 2027 2026

43 4Q25 Single-Tenant Office LTVs LTV < 60% LTV 60% to 70% LTV 70% to 80% LTV ≥ 80% —% 10.0% 20.0% 30.0% 40.0% 50.0% 4Q25 Multi-Tenant Office LTVs LTV < 60% LTV 60% to 70% LTV 70% to 80% LTV ≥ 80% —% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% Multifamily Highlights (DRAFT)Professional Office Loan Portfolio Highlights Avg Bal: $2.5MM Avg Bal: $5.5MM Avg Bal: $4.0MM Avg Bal: $2.3MM Avg Bal: $2.1MM Avg Bal: $1.6MM Avg Bal: $3.6MM Avg Bal: $14.0MM 4Q25 Professional Office Portfolio by Type 5% 10% 30% 56% Office Condo Mixed Use Office Single Tenant Multi-Tenant

44 Net Charge-Offs by Loan Type Annualized Net Loan Charge Offs by Loan Type 0.10% 0.15% 0.23%0.21% 2022 2023 2024 2025 CRE Construction C&I Consumer RE Consumer and other Total Net Charge Off Rates (0.20)% —% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60%

45 • BHG facilitates loans in as little as 3 days from application to funding • A truly diversified funding strategy creates ample liquidity to fund loan originations through: • BHG’s proprietary online auction platform encompassing over 1,700 unique banks historically • Programmatic sponsorship in the ABS market and institutional whole loan sale relationships; Wall Street continues to demand BHG product with recurring ABS issuances dating back to 2020. • BHG distinguishes itself by: • Targeting borrowers through direct mail and other sophisticated marketing techniques using a wide range of proprietary marketing tools • Underwriting applications through proprietary risk models, combining both credit & behavioral data points BHG Financial Overview 2025 Earnings of $240MM ($51MM in 4Q25) Supported by Significant Origination Growth and Solid Credit Performance Earnings Before Taxes ($ in Millions) Origination Volume ($ in Billions) Source: BHG Internal Data $2.8 $4.2 $3.9 $3.7 $6.1 2021 2022 2023 2024 2025 $— $2.0 $4.0 $6.0 $8.0 $241 $295 $181 $130 $240 2021 2022 2023 2024 2025 $— $100 $200 $300 $400

46 Bank Auction Platform Rates • Bank buy rates continued to decrease, demonstrating confidence in BHG credit • Auction platform spreads remain above long-term averages, finishing at 10.8% for 4Q25, highest since 2022 • BHG continues to work with bank partners to optimize risk/return dynamics and facilitate attractive loan economics BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Produces Wide Spreads on Bank Auction and Balance Sheet Deals Spreads Above 10% for Off Balance Sheet Bank Network Sales and On Balance Sheet Loans Off Balance Sheet - Borrower Coupon and Bank Buy Rates Blended Portfolio Yield On Balance Sheet & Related on Balance Sheet Funding CostsOn-Balance Sheet Rates • Chart details blended rates for the entire on-balance sheet portfolio at quarter end • Approximately 90% of balance sheet loans are fixed rate placements with locked in spreads approximating 11.1% for 4Q25 Source: BHG Internal Data 17.0% 16.7% 16.7% 16.4% 17.0% 17.3% 17.3% 17.6% 17.2% 17.4% 17.9% 17.9% 7.6% 8.0% 8.6% 8.8% 8.9% 8.6% 8.1% 7.9% 7.7% 7.6% 7.6% 7.1% Borrower Coupon on Loans Sold to Bank Bank Buy Rate 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 —% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 15.4% 15.3% 15.5% 16.3% 16.3% 15.9% 16.6% 16.8% 17.1% 17.2% 18.0% 17.6% 5.6% 5.9% 6.3% 6.6% 6.7% 6.4% 6.8% 6.6% 6.4% 6.5% 6.7% 6.5% Loan Interest Income Yield Borrowing Rates 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 —% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0%

47 • Committed corporate line of credit with multiple banks • Multiple warehouse facilities with large banks to support short term financing, minimal utilization in recent history • Private secured financing with asset managers and national banks • Since 2020, BHG has regularly sponsored ABS transactions with competitive spread and successful execution • BHG’s proprietary online auction platform encompassing over 1,700 unique Banks historically • Multiple institutional investors acquire loans via the platform on a monthly basis • Purchases are executed at premium pricing, reflecting strong demand and perceived credit quality BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Has Diverse, Growing Funding Channels Proactive Management of Placement Channels Continues to Provide Flexibility to BHG’s Platform Source: BHG Internal Data Loan Sales Community Bank Network Securitization Term Loan Financing Bank Warehouses Working Capital Line Loan Placement Channels Credit Facilities

48 BHG Financials $ in thousands 4Q 2025 3Q 2025 2Q 2025 Interest Income $151,378 $145,836 $136,144 Interest Expense 44,348 43,021 41,600 Provision for Loan Losses 74,988 93,226 50,850 Net Interest Income After Provision for Loan Losses 32,042 9,589 43,694 Gains on Loan Sales and Origination Fees 147,698 187,739 113,601 Other Income 6,407 37,736 20,392 Total Net Revenues 186,147 235,064 177,687 Gross Revenues 305,483 371,311 270,137 Salary and Benefits 63,991 68,181 57,882 Marketing Expenses 24,663 19,159 17,518 Portfolio Expenses 11,585 12,033 12,075 Other Expenses 34,758 42,330 38,788 Total Operating Expenses 134,997 141,703 126,263 Net Earnings 51,150 93,361 51,424 Profitability Statistics: Earnings to Gross Revenue 16.74 % 25.14 % 19.04 % Portfolio Mgmt Exp to Gross Revenues 42.86 % 39.93 % 38.69 % Operating Expenses to Gross Revenue 40.40 % 34.92 % 42.27 % $ in thousands At Dec 31, 2025 At Sep 30, 2025 At Jun 30, 2025 Cash and Cash Equivalents 742,324 714,889 592,500 Loans and Held for Investments 3,288,213 3,000,875 2,664,514 Allowance for Loan Losses (376,051) (336,132) (279,136) Loans Held for Sale 258,777 313,917 484,730 Premises and Equipment 65,715 66,361 67,679 Other Assets 284,936 300,087 294,386 Total Assets $4,263,914 $4,059,997 $3,824,673 Estimated Loan Substitutions & Prepayments 708,780 643,954 624,392 Secured Borrowings 2,501,914 2,385,375 2,083,777 Notes Payable 275,000 275,000 375,000 Borrower Reimbursable Fee 130,152 137,248 144,472 Other Liabilities 208,000 170,350 176,690 Total Liabilities $3,823,846 $3,611,928 $3,404,331 Equity 440,068 448,069 420,342 Total Liabilities and Stockholders Equity $4,263,914 $4,059,997 $3,824,673 Outstanding Loans purchased by Community Banks 8,253,506 8,134,909 7,968,139 Soundness Statistics: Cash to Assets 17.41 % 17.61 % 15.49 % Equity to Assets 10.32 % 11.04 % 10.99 % Est. loan subs & prepay as % of Loans at Other Banks 8.59 % 7.92 % 7.84 % Allowance to Loans Held for Investment 11.44 % 11.20 % 10.48 % Total Reserves against Total Outstanding 9.40 % 8.80 % 8.50 % Source: BHG Internal Data, unaudited.

49 ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net income available to common shareholders $165,983 $169,338 $147,461 $626,673 $459,864 Subtract/add: Investment securities (gains) losses, net 4,099 — (249) 16,611 71,854 ORE expense 346 146 58 687 220 FDIC special assessment (7,500) — — (7,500) 7,250 Recognition of mortgage servicing asset — — — — (11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 28,400 Merger-related expense(1) 13,939 7,727 — 21,666 — Tax effect of adjustments(2) (2,721) (1,968) 48 (7,866) (23,978) Adjusted net income available to common shareholders $174,146 $175,243 $147,318 $650,271 $531,798 Weighted average common shares outstanding, diluted 77,746 77,310 77,385 77,689 77,131 Net income per common share, diluted $2.13 $2.19 $1.91 $8.07 $5.96 Adjusted net income per common share, diluted $2.24 $2.27 $1.90 $8.37 $6.89 Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25, 4Q24, 2025 and 2024 Non-GAAP Financial Measures

50 ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net interest income $407,435 $396,865 $363,790 $1,548,261 $1,365,590 Total non-interest revenue 134,769 147,938 111,545 506,590 371,178 Total non-interest expense 302,656 303,139 261,897 1,167,728 1,034,970 Pre-provision net revenue (PPNR) $239,548 $241,664 $213,438 $887,123 $701,798 Net interest income $407,435 $396,865 $363,790 $1,548,261 $1,365,590 Taxable equivalent adjustment 17,154 15,221 12,055 58,706 47,680 TE net interest income 424,589 412,086 375,845 1,606,967 1,413,270 Total non-interest revenue 134,769 147,938 111,545 506,590 371,178 Total TE revenue 559,358 560,024 487,390 2,113,557 1,784,448 Subtract: Investment securities (gains) losses, net 4,099 — (249) 16,611 71,854 Recognition of mortgage servicing asset — — — — (11,812) Adjusted total revenue (TE) $563,457 $560,024 $487,141 $2,130,168 $1,844,490 Total non-interest expense $302,656 $303,139 $261,897 $1,167,728 $1,034,970 Subtract: ORE expense 346 146 58 687 220 FDIC special assessment (7,500) — — (7,500) 7,250 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 28,400 Merger-related expense 13,939 7,727 — 21,666 — Adjusted non-interest expense $295,871 $295,266 $261,839 $1,152,875 $999,100 Adjusted revenue (TE) $563,457 $560,024 $487,141 $2,130,168 $1,844,490 Adjusted non-interest expense 295,871 295,266 261,839 1,152,875 999,100 Adjusted PPNR $267,586 $264,758 $225,302 $977,293 $845,390 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued

51 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income $165,983 $169,338 $154,742 $136,610 $147,461 Investment securities (gains) losses, net 4,099 — — 12,512 (249) ORE expense 346 146 137 58 58 FDIC special assessment (7,500) — — — — Merger-related expense (1) 13,939 7,727 — — — Tax effect of adjustments(2) (2,721) (1,968) (34) (3,143) 48 Adjusted net income $174,146 $175,243 $154,844 $146,037 $147,318 Net income annualized $658,520 $671,830 $620,668 $554,029 $586,638 Adjusted net income annualized $690,905 $695,258 $621,078 $592,261 $586,069 Total average assets $56,705,549 $55,213,879 $53,824,500 $52,525,831 $51,166,643 Return on average assets (annualized) 1.16% 1.22% 1.15% 1.05% 1.15% Adjusted return on average assets (annualized) 1.22% 1.26% 1.15% 1.13% 1.15% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024

52 Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Net income $626,673 $459,864 Subtract/add: Investment securities (gains) losses, net 16,611 71,854 ORE expense 687 220 FDIC special assessment (7,500) 7,250 Recognition of mortgage servicing asset — (11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 28,400 Merger-related expense(1) 21,666 — Tax effect of adjustments(2) (7,866) (23,978) Adjusted net income $650,271 $531,798 Total average assets $54,580,662 $49,446,853 Return on average assets 1.15% 0.93% Adjusted return on average assets 1.19% 1.08% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024

53 Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income available to common shareholders $165,983 $169,338 $154,742 $136,610 $147,461 Investment securities (gains) losses, net 4,099 — — 12,512 (249) ORE expense 346 146 137 58 58 FDIC special assessment (7,500) — — — — Merger-related expense(1) 13,939 7,727 — — — Tax effect of adjustments(2) (2,721) (1,968) (34) (3,143) 48 Adjusted net income available to common shareholders $174,146 $175,243 $154,844 $146,037 $147,318 Adjusted net income available to common shareholders annualized $690,905 $695,258 $621,078 $592,261 $586,069 Total average shareholders' equity less preferred stock $6,749,871 $6,504,443 $6,384,536 $6,298,778 $6,188,741 Average goodwill 1,848,904 1,848,904 1,849,255 1,849,260 1,846,998 Average other intangible assets, net 23,554 18,985 20,150 20,905 23,054 Total average tangible shareholders' equity less preferred stock $4,877,413 $4,636,554 $4,515,131 $4,428,613 $4,318,689 Return on average common equity (annualized) 9.76% 10.33% 9.72% 8.80% 9.48% Adjusted return on average common equity (annualized) 10.24% 10.69% 9.73% 9.40% 9.47% Return on average tangible common equity (annualized) 13.50% 14.49% 13.75% 12.51% 13.58% Adjusted return on average tangible common equity (annualized) 14.17% 15.00% 13.76% 13.37% 13.57% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024

54 Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Net income available to common shareholders $626,673 $459,864 Investment securities (gains) losses, net 16,611 71,854 ORE expense 687 220 FDIC special assessment (7,500) 7,250 Recognition of mortgage servicing asset — (11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 28,400 Merger-related expense(1) 21,666 — Tax effect of adjustments(2) (7,866) (23,978) Adjusted net income available to common shareholders $650,271 $531,798 Total average shareholders' equity less preferred stock $6,485,698 $6,006,718 Average goodwill 1,849,079 1,846,979 Average other intangible assets, net 20,901 24,744 Total average tangible shareholders' equity less preferred stock $4,615,718 $4,134,995 Return on average common equity 9.66% 7.66% Adjusted return on average common equity 10.03% 8.85% Return on average tangible common equity 13.58% 11.12% Adjusted return on average tangible common equity 14.09% 12.86% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024

55Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 2025 2024 Total non-interest revenue $134,769 $147,938 $125,457 $98,426 $111,545 $506,590 $371,178 Investment securities (gains) losses, net 4,099 — — 12,512 (249) 16,611 71,854 Mortgage servicing asset — — — — — — (11,812) Adjusted non-interest revenue $138,868 $147,938 $125,457 $110,938 $111,296 $523,201 $431,220

56Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total non-interest expense $302,656 $303,139 $286,446 $275,487 $261,897 ORE expense 346 146 137 58 58 FDIC special assessment (7,500) — — — — Merger-related expense 13,939 7,727 — — — Adjusted non-interest expense $295,871 $295,266 $286,309 $275,429 $261,839 Adjusted non-interest expense $295,871 $295,266 $286,309 $275,429 $261,839 Net interest income $407,435 $396,865 $379,533 $364,428 $363,790 Taxable equivalent (TE) adjustment 17,154 15,221 13,815 12,516 12,055 Total non-interest revenue 134,769 147,938 125,457 98,426 111,545 Total TE revenue $559,358 $560,024 $518,805 $475,370 $487,390 Investment securities (gains) losses, net 4,099 — — 12,512 (249) Adjusted total revenue (TE) $563,457 $560,024 $518,805 $487,882 $487,141 Efficiency ratio-(TE) 54.11% 54.13% 55.21% 57.95% 53.73% Adjusted tangible efficiency ratio 52.51% 52.72% 55.19% 56.45% 53.75%

57Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands) 2025 2024 Total non-interest revenue $506,590 $371,178 Investment securities (gains) losses, net 16,611 71,854 Recognition of mortgage servicing asset — (11,812) Adjusted non-interest revenue $523,201 $431,220 Total non-interest expense $1,167,728 $1,034,970 ORE expense 687 220 FDIC special assessment (7,500) 7,250 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 28,400 Merger-related expense 21,666 — Adjusted non-interest expense $1,152,875 $999,100 Adjusted non-interest expense $1,152,875 $999,100 Net interest income 1,548,261 1,365,590 Taxable equivalent (TE) adjustment 58,706 47,680 Total non-interest revenue 506,590 371,178 Total TE revenue $2,113,557 $1,784,448 Investment securities (gains) losses, net 16,611 71,854 Recognition of mortgage servicing asset — (11,812) Adjusted total revenue (TE) $2,130,168 $1,844,490 Efficiency ratio-(TE) 55.25% 58.00% Adjusted tangible efficiency ratio 54.12% 54.17%

58Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total assets $57,706,053 $55,963,549 $54,801,451 $54,254,804 $52,589,449 Goodwill 1,848,904 1,848,904 1,848,904 1,849,260 1,849,260 Other intangible assets, net 29,715 18,108 19,506 20,007 21,423 Tangible assets $55,827,434 $54,096,537 $52,933,041 $52,385,537 $50,718,766 Total shareholders’ equity $7,043,715 $6,856,192 $6,637,237 $6,543,142 $6,431,881 Goodwill 1,848,904 1,848,904 1,848,904 1,849,260 1,849,260 Other intangible assets, net 29,715 18,108 19,506 20,007 21,423 Preferred Stock 217,126 217,126 217,126 217,126 217,126 Tangible common equity $4,947,970 $4,772,054 $4,551,701 $4,456,749 $4,344,072 Total shareholders’ equity to total assets ratio 12.21% 12.25% 12.11% 12.06% 12.23% Tangible common equity ratio 8.86% 8.82% 8.60% 8.51% 8.57% Tangible common equity $4,947,970 $4,772,054 $4,551,701 $4,456,749 $4,344,072 Common shares outstanding 77,662 77,558 77,548 77,554 77,242 Book value per common share $87.90 $85.60 $82.79 $81.57 $80.46 Tangible book value per common share $63.71 $61.53 $58.70 $57.47 $56.24

59 Reconciliation of Non-GAAP Financial Measures

Synovus Standalone Fourth Quarter 2025 Supplemental Information

61 Credit Quality & Capital Non-Interest Revenue Non-Interest Expense Synovus' Fourth Quarter 2025 Highlights Net Interest Income • Strong 4Q25 loan growth was primarily attributable to corporate and investment banking, specialty lending verticals and middle market credits • Core deposit(1) growth was supported by public funds and middle market account seasonality • NIM expansion was supported by various factors including continued fixed-rate asset repricing and the funding benefits of core deposit growth • QoQ broad-based growth in wealth, core banking and capital markets supported non-interest revenue growth • $14 million incremental taxes and penalty assessed on $220 million BOLI surrender; +$4 million revenue equals ~3.5 year payback period • QoQ non-interest expense growth was impacted by an increase in incentives and charitable donations which more than offset a FDIC special assessment reversal • NCOs were in line with expectations • ~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge- off • The majority of the NPL increase was due to a $38.6 million C&I credit • Capital levels continued to build in anticipation of the closing of the merger; CET1 Ratio(2) finished at all- time high of 11.28% (1) Excludes brokered; (2) 4Q25 capital ratios are preliminary

62 Credit Quality Amounts may not total due to rounding; (1) Annualized. 174% 185% 200% 249% 207% ACL to NPLs: Allowance for Credit Losses ($ in millions) $539 $529 $514 $520 $529 4Q24 1Q25 2Q25 3Q25 4Q25 Allowance for Credit Losses RatioAllowance for Credit Losses 1.27% 1.24% 1.18% 1.19% 1.19% $28 $21 $18 $15 $24 4Q24 1Q25 2Q25 3Q25 4Q25 Net Charge-Offs ($ in millions) 4.0% 3.8% 3.6% 3.4% 3.0% 4Q24 1Q25 2Q25 3Q25 4Q25 NPA and Criticized & Classified Loan Ratios Net Charge-Off Ratio(1)Net Charge-OffsNPAs/Loans+REO % Criticized & Classified Loans as a % of Total Loans 0.26% 0.20% 0.17% 0.14%0.73% 0.67% 0.59% 0.53% 0.22%0.62% • ~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge-off • Linked quarter NPL increase primarily due to one C&I credit totaling $38.6 million Highlights

63 Risk Distribution ($ in millions) Amounts may not total due to rounding. $1,086 $1,333 $1,484 $1,527 $1,634 $1,590 $1,693 $1,683 $1,610 $1,566 $1,481 $1,341 2.5% 3.0% 3.4% 3.5% 3.8% 3.7% 3.9% 4.0% 3.8% 3.6% 3.4% 3.0% Criticized and Classified Loans % of Total Loans 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Portfolio Risk DistributionCriticized & Classified Loans Composition Change Risk Category 4Q25 3Q25 4Q25 vs. 3Q25 Passing Grades $43,284 $42,272 $1,013 Special Mention 521 650 (129) Substandard Accruing 564 622 (58) Non-Performing Loans 256 209 47 Total Loans $44,626 $43,753 $872

64 Amounts may not total due to rounding. (1) Other factors include the addition to the ACL associated with the cessation of a third-party lending relationships and decline in that portfolio as well as the impact of dispositions, etc; (2) Upside refers to November 2025 "S1" Upside 10th Percentile scenario; (3) Downside refers to Moody's November 2025 "S3" Downside 10th Percentile scenario; (4) Slow Growth refers to Moody's November 2025 "S5" Slow Growth; (5) Corresponds to Moody's November 2025 Scenarios ACL/Loans: Economic Scenario Assumptions and Weightings 1.19% 1.19% $529 $520 $(15) $7 $5 $13 $(1) 3Q25 Economic Conditions Other Qualitatives Performance Net Growth Other 4Q25(1) 4Q25 Change from 2026(5) 2027(5) Scenario Model Weighting Previous Quarter GDP Unemployment GDP Unemployment Consensus Baseline 55% 5% 1.8% 4.4% 2.0% 4.3% Upside(2) 10% (5)% 3.3% 3.8% 2.6% 3.9% Downside(3) 5% —% (1.2)% 7.4% 0.2% 8.1% Slow Growth(4) 30% —% 1.4% 5.3% 1.1% 5.6% Weighted Average 1.7% 4.8% 1.7% 4.8% Allowance for Credit Losses ($ in millions)

65 • 93% are income-producing properties • Diversity among property types and geographies • Industry Focused C&I(1) is well-diversified among multiple lines of business • C&I industry mix aligned with economic and demographic drivers • SNCs total $5.8 billion, ~$595 million of which is agented by SNV • Weighted average credit score of 796 and 785 for Home Equity and Mortgage, respectively • Weighted average LTV of 71% and 68% for Home Equity and Mortgage, respectively(2) Consumer Portfolio $8.2 billion CRE Portfolio $12.1 billion C&I Portfolio $24.3 billion 4Q25 Portfolio Characteristics C&I CRE Consumer NPL Ratio 0.62% 0.32% 0.80% QTD Net Charge-off Ratio (annualized) 0.12% 0.18% 0.54% 30+ Days Past Due Ratio 0.10% 0.02% 0.42% 90+ Days Past Due Ratio 0.01% 0.00% 0.02% Amounts may not total due to rounding; (1) Industry Focused C&I is primarily comprised of our seniors housing portfolio, national accounts, structured lending (primarily lender finance) and insurance premium finance; (2) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2025 commitment amount and any existing senior lien Loan Portfolio by Category 25% 24% 5% 9% 6% 4% 4% 3% 1% 16% 3% Market Based C&I Industry-Focused C&I Other C&I Multi-Family Other CRE Hotel Office Retail Residential C&D & Land Consumer Real Estate Consumer Non-Real Estate Highly Diverse Loan Mix

66 Credit Indicator 4Q25 NPL Ratio 0.62% Net Charge-off Ratio (annualized) 0.12% 30+ Days Past Due Ratio 0.10% 90+ Days Past Due Ratio 0.01% Diverse Industry Exposure 4Q25 Total C&I Portfolio $24.3 billion Amounts may not total due to rounding; (1) These segments are not two-digit NAICS industry divisions; Seniors Housing is a subset of NAICS 62 Health Care and Social Assistance, and lessors of R/E and R/E leasing together comprise NAICS 53 Real Estate, Rental, and Leasing C&I Loan Portfolio 23.9% 12.9% 7.1% 6.4% 5.9% 5.4% 5.1% 4.3% 4.1% 3.8% 3.6% 3.3% 3.1% 3.1% 2.2% 2.0% 1.9% 1.0% .8% Finance/Insurance Senior Housing Accom. & Food Svcs. Lessors of R/E Health Care Manufacturing Wholesale Trade Retail Trade Construction Other Services Prof., Scientific, Tech. Svcs. Transport/Warehousing R/E Leasing All Other Arts, Entertainment, & Rec. Public Administration Educational Svcs. Ag, Forestry, Fishing Admin., Support, Waste Mgmt. (1) (1) (1) • Approximately 95% of the C&I Portfolio is Collateralized • Wholesale Bank (includes Market Based and Industry Focused Lines) represents 70% of C&I balances • Finance/Insurance predominantly represented by secured lender finance portfolio ◦ 0.00% NPL Ratio ◦ 0.00% Net Charge-Off Ratio (annualized) ◦ 0.09% 30+ Day Past Due Ratio 5% 15% 13% 7% 24% 37% Owner-Occupied CRE Inventory/Receivables Insurance Premium Finance Lender Finance Other Collateral Unsecured

67 Commercial Real Estate Loan Portfolio Composition of 4Q25 CRE Portfolio Total Portfolio $12.1 billion Investment Properties Land, Development and Residential Properties Portfolio Characteristics (as of December 31, 2025) Office Building Multi-family Shopping Centers Hotels Other Investment Properties Warehouse Residential Properties(1) Development & Land Balance (in millions) $1,627 $3,827 $1,483 $1,933 $1,448 $961 $542 $275 Weighted Average LTV(2)(3) 56% 53% 55% 52% 52% 52% NA NA NPL Ratio 2.06% 0.00% 0.10% 0.00% 0.03% 0.01% 0.51% 0.07% Net Charge-off Ratio (annualized) 1.06% 0.00% 0.00% 0.00% 0.11% 0.00% 0.12% 0.74% 30+ Days Past Due Ratio 0.03% 0.01% 0.00% 0.00% 0.02% 0.00% 0.21% 0.19% 90+ Days Past Due Ratio 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Investment Properties portfolio represent 93% of total CRE portfolio ◦ The portfolio is well diversified among property types CRE Credit Quality ◦ 0.32% NPL Ratio ◦ 0.18% Net Charge-Off Ratio (annualized) ◦ 0.02% 30+ Day Past Due Ratio ◦ 0.00% 90+ Day Past Due Ratio Amounts may not total due to rounding; (1) Includes 1-4 Family Construction and 1-4 Family Perm/Mini-Perm (primarily rental homes); (2) LTV calculated by dividing most recent appraisal (typically at origination) on non-construction component of portfolio by the 12/31/25 commitment amount and any senior lien; (3) Methodology for calculated LTV differs from LTV’s noted on other CRE slides 31.6% 16.0% 13.5% 12.0% 12.3% 7.9% 2.7% 2.3% 1.8% Multi-Family Hotels Office Building Other Investment Properties Shopping Center Warehouses 1-4 Family Perm/Mini-Perm Land Acquisition & Dev. 1-4 Family Construction

68 Credit Indicator 4Q25 NPL Ratio 0.80% Net Charge-off Ratio (annualized) 0.54% 30+ Days Past Due Ratio 0.42% 90+ Days Past Due Ratio 0.02% Total Consumer Portfolio $8.2 billion Credit Indicator Home Equity Mortgage Weighted Average Credit Score of 4Q25 Originations 797 768 Weighted Average Credit Score of Total Portfolio 796 785 Weighted Average LTV(1) 71% 68% Weighted Average DTI(2) 35% 32% Utilization Rate 40% N/A Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2025 commitment amount and any existing senior lien; (2) Weighted Average DTI of 4Q25 originations Consumer Credit Quality Consumer Loan Portfolio • 86% of Consumer portfolio is backed by residential real estate • Other Consumer includes secured and unsecured products • Average consumer card utilization rate is 23% • Third-party HFI portfolio $614 million 63.3% 22.4% 7.5% 4.6% 2.3% Consumer Mortgage Home Equity Third-Party HFI Other Consumer Credit Card

69 ($ in millions; rates annualized) December 2025 4Q25 3Q25 Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Non-interest-bearing N/A $11,420 N/A $11,341 N/A Interest-bearing non-maturity (NMD) 2.13% $27,113 2.20% $26,609 2.43% Time 3.37% $7,566 3.37% $7,148 3.39% Brokered 3.94% $5,071 4.11% $5,059 4.49% Total interest-bearing 2.59% $39,750 2.66% $38,816 2.88% Total deposits 2.02% $51,170 2.07% $50,157 2.23% Total Average Deposit Costs

70 4Q25 3Q25 2Q25 1Q25 4Q24 Financial Performance Diluted EPS $1.22 $1.33 $1.48 $1.30 $1.25 Net interest margin(1) 3.45% 3.41% 3.37% 3.35% 3.28% Efficiency ratio-TE 55.38 56.51 53.03 53.81 53.15 Adjusted tangible efficiency ratio(2) 51.29 51.83 52.31 53.26 52.69 ROAA(1) 1.18 1.30 1.46 1.32 1.25 Adjusted ROAA(1)(2) 1.39 1.42 1.46 1.32 1.25 ROCE(1) 12.62 14.36 16.71 15.48 14.75 ROTCE(1)(2) 14.09 16.11 18.81 17.52 16.72 Adjusted ROTCE(1)(2) 16.66 17.69 18.82 17.58 16.67 Balance Sheet QoQ Growth Total loans 2% 0% 2% 0% (1)% Total deposits 3% 0% (2)% 0% 2% Credit Quality NPA ratio 0.62% 0.53% 0.59% 0.67% 0.73% NCO ratio(1) 0.22 0.14 0.17 0.20 0.26 Capital Common shares outstanding(3) 138,894 138,813 138,782 139,214 141,166 Common Equity Tier 1 capital ratio 11.28% 11.22% 10.96% 10.77% 10.84% Tier 1 ratio 12.36% 12.33% 12.06% 11.89% 11.96% Leverage ratio 10.12% 10.02% 9.86% 9.56% 9.55% Tangible common equity ratio(2) 8.14 7.96 7.55 7.26 7.02 (1) Annualized; (2) Non-GAAP financial measure; see applicable reconciliation; (3) In thousands; (4) Preliminary (4) Quarterly Highlights Trend (4) (4)

71 ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net income available to common shareholders $171,054 $185,590 $178,848 $746,655 $439,557 Restructuring charges (reversals) (338) (747) 37 (2,305) 2,121 Valuation adjustment on GLOBALT earnout (719) — (719) (719) (719) Valuation adjustment to Visa derivative 2,940 2,911 — 8,051 8,700 (Gain) loss on early extinguishment of debt 1,344 — — 1,344 — Investment securities (gains) losses, net 1,038 (1,742) — (704) 256,660 Merger-related expense(1) 18,504 23,757 — 42,261 — Tax on surrender of bank-owned life insurance policies 14,227 — — 14,227 — Tax effect of adjustments(2) (5,499) (5,839) 165 (11,575) (64,423) Adjusted net income available to common shareholders $202,551 $203,930 $178,331 $797,235 $641,896 Weighted average common shares outstanding, diluted 139,733 139,612 142,694 140,149 144,998 Net income per common share, diluted $1.22 $1.33 $1.25 $5.33 $3.03 Adjusted net income per common share, diluted $1.45 $1.46 $1.25 $5.69 $4.43 Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q24, 3Q25,4Q24, 2025 and 2024 Non-GAAP Financial Measures

72 ($ in thousands) 4Q25 3Q25 4Q24 2025 2024 Net interest income $484,577 $474,695 $454,993 $1,873,217 $1,749,577 Total non-interest revenue 145,094 140,697 125,587 536,392 239,604 Total non-interest expense (349,594) (348,729) (309,311) (1,322,058) (1,247,543) Pre-provision net revenue (PPNR) $280,077 $266,663 $271,269 $1,087,551 $741,638 Net interest income $484,577 $474,695 $454,993 $1,873,217 $1,749,577 Taxable equivalent adjustment 1,632 1,736 1,430 6,607 5,485 TE net interest income 486,209 476,431 456,423 1,879,824 1,755,062 Total non-interest revenue 145,094 140,697 125,587 536,392 239,604 Total TE revenue 631,303 617,128 582,010 2,416,216 1,994,666 Valuation adjustment on Globalt earnout (719) — (719) (719) (719) Investment securities (gains) losses, net 1,038 (1,742) — (704) 256,660 Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (237) (6,214) (5,159) Adjusted total revenue (TE) $630,459 $612,794 $581,054 $2,408,579 $2,245,448 Total non-interest expense $349,594 $348,729 $309,311 $1,322,058 $1,247,543 Restructuring (charges) reversals 338 747 (37) 2,305 (2,121) Gain (loss) on early extinguishment of debt (1,344) — — (1,344) — Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (237) (6,214) (5,159) Merger-related expense (18,504) (23,757) — (42,261) — Valuation adjustment to Visa derivative (2,940) (2,911) — (8,051) (8,700) Adjusted non-interest expense $325,981 $320,216 $309,037 $1,266,493 $1,231,563 Adjusted revenue (TE) $630,459 $612,794 $581,054 $2,408,579 $2,245,448 Adjusted non-interest expense (325,981) (320,216) (309,037) (1,266,493) (1,231,563) Adjusted PPNR $304,478 $292,578 $272,017 $1,142,086 $1,013,885 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued

73 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income $181,696 $196,505 $217,119 $194,872 $189,377 Restructuring charges (reversals) (338) (747) 72 (1,292) 37 Valuation adjustment on GLOBALT earnout (719) — — — (719) Valuation adjustment to Visa derivative 2,940 2,911 — 2,200 — (Gain) loss on early extinguishment of debt 1,344 — — — — Investment securities (gains) losses, net 1,038 (1,742) — — — Merger-related expense(1) 18,504 23,757 — — — Tax on surrender of bank-owned life insurance policies 14,227 — — — — Tax effect of adjustments(2) (5,499) (5,839) (17) (219) 165 Adjusted net income $213,193 $214,845 $217,174 $195,561 $188,860 Net income annualized $720,859 $779,612 $870,862 $790,314 $753,391 Adjusted net income annualized $845,820 $852,374 $871,083 $793,109 $751,334 Total average assets $60,839,497 $60,085,552 $59,577,113 $59,876,546 $60,174,616 Return on average assets (annualized) 1.18% 1.30% 1.46% 1.32% 1.25% Adjusted return on average assets (annualized) 1.39% 1.42% 1.46% 1.32% 1.25% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q25, 3Q25, 2Q25,1Q25, and 4Q24 Non-GAAP Financial Measures, Continued

74 ($ in thousands) 2025 2024 Net income $790,192 $479,451 Restructuring charges (reversals) (2,305) 2,121 Valuation adjustment to Visa derivative 8,051 8,700 Valuation adjustment on GLOBALT earnout (719) (719) Loss (gain) on early extinguishment of debt 1,344 — Investment securities losses (gains), net (704) 256,660 Merger-related expense(1) 42,261 — Tax on surrender of bank-owned life insurance policies 14,227 — Tax effect of adjustments(2) (11,575) (64,423) Adjusted net income $840,772 $681,790 Total average assets $60,097,290 $59,408,317 Return on average assets 1.31% 0.81% Adjusted return on average assets 1.40% 1.15% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 2025 and 2024 Non-GAAP Financial Measures, Continued

75 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Net income available to common shareholders $171,054 $185,590 $206,320 $183,691 $178,848 Restructuring charges (reversals) (338) (747) 72 (1,292) 37 Valuation adjustment on GLOBALT earnout (719) — — — (719) Loss (gain) on early extinguishment of debt 1,344 — — — — Valuation adjustment to Visa derivative 2,940 2,911 — 2,200 — Investment securities losses (gains), net 1,038 (1,742) — — — Merger-related expense(1) 18,504 23,757 — — — Tax on surrender of bank-owned life insurance policies 14,227 — — — — Tax effect of adjustments(2) (5,499) (5,839) (17) (219) 165 Adjusted net income available to common shareholders $202,551 $203,930 $206,375 $184,380 $178,331 Adjusted net income available to common shareholders annualized $803,599 $809,070 $827,768 $747,763 $709,447 Amortization of intangibles, tax effected, annualized 7,905 7,907 7,993 8,082 8,715 Adjusted net income available to common shareholders excluding amortization of intangibles annualized $811,504 $816,977 $835,761 $755,845 $718,162 Net income available to common shareholders annualized $678,638 $736,308 $827,547 $744,969 $711,504 Amortization of intangibles, tax effected, annualized 7,905 7,907 7,993 8,082 8,715 Net income available to common shareholders excluding amortization of intangibles annualized $686,543 $744,215 $835,540 $753,051 $720,219 Total average Synovus Financial Corp. shareholders' equity less preferred stock $5,377,147 $5,127,084 $4,952,297 $4,812,279 $4,824,003 Average goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Average other intangible assets, net (25,211) (27,665) (30,398) (32,966) (35,869) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock $4,871,496 $4,618,979 $4,441,459 $4,298,873 $4,307,694 Return on average common equity (annualized) 12.62% 14.36% 16.71% 15.48% 14.75% Adjusted return on average common equity (annualized) 14.94% 15.78% 16.71% 15.54% 14.71% Return on average tangible common equity (annualized) 14.09% 16.11% 18.81% 17.52% 16.72% Adjusted return on average tangible common equity (annualized) 16.66% 17.69% 18.82% 17.58% 16.67% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q25, 3Q25, 2Q25, 1Q25, and 4Q24 Non-GAAP Financial Measures, Continued

76 ($ in thousands) 2025 2024 Net income available to common shareholders $746,655 $439,557 Restructuring charges (reversals) (2,305) 2,121 Valuation adjustment to Visa derivative 8,051 8,700 Valuation adjustment on GLOBALT earnout (719) (719) Loss (gain) on early extinguishment of debt 1,344 — Investment securities losses (gains), net (704) 256,660 Merger-related expense(1) 42,261 — Tax on surrender of bank-owned life insurance policies 14,227 — Tax effect of adjustments(2) (11,575) (64,423) Adjusted net income available to common shareholders $797,235 $641,896 Amortization of intangibles, tax effected $7,971 $8,806 Adjusted net income available to common shareholders excluding amortization of intangibles $805,206 $650,702 Net income available to common shareholders 746,655 439,557 Amortization of intangibles, tax effected 7,971 $8,806 Net income available to common shareholders excluding amortization of intangibles $754,626 $448,363 Total average Synovus Financial Corp. shareholders' equity less preferred stock $5,068,914 $4,629,343 Average goodwill (480,440) (480,555) Average other intangible assets, net (29,035) (40,161) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock $4,559,439 $4,108,627 Return on average common equity 14.73% 9.50% Adjusted return on average common equity 15.73% 13.87% Return on average tangible common equity 16.55% 10.91% Adjusted return on average tangible common equity 17.66% 15.84% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 2025 and 2024 Non-GAAP Financial Measures, Continued

77 Total non-interest expense $349,594 $348,729 $315,701 $308,034 $309,311 Restructuring (charges) reversals 338 747 (72) 1,292 (37) Valuation adjustment to Visa derivative (2,940) (2,911) — (2,200) — (Loss) gain on early extinguishment of debt (1,344) — — — — Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (3,275) 816 (237) Merger-related expense (18,504) (23,757) — — — Adjusted non-interest expense $325,981 $320,216 $312,354 $307,942 $309,037 Adjusted non-interest expense $325,981 $320,216 $312,354 $307,942 $309,037 Amortization of intangibles (2,627) (2,627) (2,627) (2,627) (2,888) Adjusted tangible non-interest expense $323,354 317,589 309,727 305,315 306,149 Net interest income $484,577 $474,695 $459,561 $454,384 $454,993 Taxable equivalent (TE) adjustment 1,632 1,736 1,662 1,577 1,430 Total non-interest revenue 145,094 140,697 134,135 116,466 125,587 Total TE revenue $631,303 $617,128 $595,358 $572,427 $582,010 Investment securities (gains) losses, net 1,038 (1,742) — — — Valuation adjustment on Globalt earnout (719) — — — (719) Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (3,275) 816 (237) Adjusted total revenue (TE) $630,459 $612,794 $592,083 $573,243 $581,054 Efficiency ratio-(TE) 55.38% 56.51% 53.03% 53.81% 53.15% Adjusted tangible efficiency ratio 51.29% 51.83% 52.31% 53.26% 52.69% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total non-interest revenue $145,094 $140,697 $134,135 $116,466 $125,587 Valuation adjustment on GLOBALT earnout (719) — — — (719) Investment securities (gains) losses, net 1,038 (1,742) — — — Fair value adjustment on non-qualified deferred compensation (1,163) (2,592) (3,275) 816 (237) Adjusted non-interest revenue $144,250 $136,363 $130,860 $117,282 $124,631

78 ($ in thousands) 2025 2024 Total non-interest revenue $536,392 $239,604 Valuation adjustment on GLOBALT earnout (719) (719) Investment securities losses (gains), net (704) 256,660 Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Adjusted non-interest revenue $528,755 $490,386 Total non-interest expense $1,322,058 $1,247,543 Restructuring (charges) reversals 2,305 (2,121) Valuation adjustment to Visa derivative (8,051) (8,700) (Loss) gain on early extinguishment of debt (1,344) — Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Merger-related expense (42,261) — Adjusted non-interest expense $1,266,493 $1,231,563 Adjusted non-interest expense $1,266,493 $1,231,563 Amortization of intangibles (10,510) (11,609) Adjusted tangible non-interest expense $1,255,983 $1,219,954 Net interest income 1,873,217 1,749,577 Tax equivalent adjustment 6,607 5,485 Total non-interest revenue 536,392 239,604 Total TE revenue $2,416,216 $1,994,666 Valuation adjustment on GLOBALT earnout (719) (719) Investment securities losses (gains), net (704) 256,660 Fair value adjustment on non-qualified deferred compensation (6,214) (5,159) Adjusted total revenue (TE) $2,408,579 $2,245,448 Efficiency ratio-(TE) 54.72% 62.54% Adjusted tangible efficiency ratio 52.15% 54.33% Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued

79 ($ in thousands) 4Q25 3Q25 2Q25 1Q25 4Q24 Total assets $61,358,837 $60,485,175 $61,056,785 $60,339,121 $60,233,644 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (23,809) (26,436) (29,063) (31,691) (34,318) Tangible assets $60,854,588 $59,978,299 $60,547,282 $59,826,990 $59,718,886 Total Synovus Financial Corp. shareholders’ equity $5,993,167 $5,818,737 $5,617,686 $5,390,751 $5,244,557 Goodwill (480,440) (480,440) (480,440) (480,440) (480,440) Other intangible assets, net (23,809) (26,436) (29,063) (31,691) (34,318) Preferred Stock, no par value (537,145) (537,145) (537,145) (537,145) (537,145) Tangible common equity $4,951,773 $4,774,716 $4,571,038 $4,341,475 $4,192,654 Total Synovus Financial Corp. shareholders’ equity to total assets ratio 9.77% 9.62% 9.20% 8.93% 8.71% Tangible common equity ratio 8.14% 7.96% 7.55% 7.26% 7.02% Tangible common equity $4,951,773 $4,774,716 $4,571,038 $4,341,475 $4,192,654 Common shares outstanding 138,894 138,813 138,782 139,214 141,166 Book value per common share $39.28 $38.05 $36.61 $34.86 $33.35 Tangible book value per common share $35.65 $34.40 $32.94 $31.19 $29.70 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued