Results
Diluted earnings per share of $2.40 versus $2.19 in 3Q25
Adjusted diluted earnings per share of $2.69 versus $2.27 in 3Q25
ATLANTA, Oct. 21, 2026 - Pinnacle Financial Partners, Inc. (NYSE: PNFP) today reported financial results for the quarter ended Sept. 30, 2026.
Net income available to common shareholders was $364 million, or $2.40 per diluted share in third quarter 2026.
Excluding merger-related expenses, investment securities losses and certain other items, adjusted net income available to common shareholders was $409 million, or $2.69 per diluted share.
Management commentary
“Three quarters into our first year as a combined company, the pattern that built Pinnacle is intact: consistent, repeatable performance, quarter after quarter.
The merger changed our size, not how we perform.
Strong loan and deposit growth and outsized growth in fee income have driven double-digit diluted EPS growth year over year.
And we did it while building capital and keeping credit sound.
Retention and recruiting are both ahead of plan, and clients remain loyal and committed to doing more business with us.
We plan to close 2026 building on that pattern of performance,” said Pinnacle President and CEO Kevin Blair.
Results
Third Quarter 2026 Performance
Corporate events
The merger of Pinnacle Financial Partners, Inc. (“Pinnacle” or “legacy Pinnacle”) and Synovus Financial Corp. (“Synovus”) closed on Jan. 1, 2026.
Reported results for Pinnacle reflect the combined organization in third quarter 2026 and second quarter 2026 and legacy Pinnacle in prior periods, unless stated otherwise.
Year-over-year comparisons are significantly impacted by the merger given the magnitude of the acquired balance sheet and the effect of purchase accounting.
Prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.
Results
Our hiring efforts remain very successful and consistent.
8Pinnacle added 96 experienced revenue producers during the third quarter, compared to 74 in second quarter 2026.
This brings our year-to-date total to 222.
7Period-end loans were $89.8 billion at Sept. 30, 2026, up $1.7 billion or 2% from the prior quarter.
The majority of the loan growth was in commercial and industrial credits and was diverse by geography and supported by specialty lending.
Period-end deposits were $103 billion, up $2.1 billion or 2% from the prior quarter.
Third quarter deposit growth reflects Pinnacle’s historical seasonal growth pattern.
5Net interest income grew 3% to $986 million in third quarter 2026.
3On a linked-quarter basis, the net margin declined 4 basis points to 3.40%, driven primarily by increasing deposit costs and the ongoing, wholesale-funded liquidity build, partially offset by rising securities and loan yields.
Non-interest revenue was $326 million and adjusted non-interest revenue was $323 million in third quarter 2026.
2Linked-quarter adjusted non-interest revenue increased $53 million from the second quarter, driven by an increase in income from our equity-method investment in BHG, which was the result of higher production, and by a $23 million gain associated with the payoff of an equipment lease during the quarter.
Non-interest expense was $749 million in third quarter 2026.
1Excluding merger-related expense and certain other items, adjusted non-interest expense was $690 million, up 4% on a linked-quarter basis, with increased employment expense primarily driven by a true-up to the annual incentive accrual for revenue and EPS growth, and accelerated revenue producer hiring.
The efficiency ratio-TE was 56.6% in third quarter 2026, while the adjusted tangible efficiency ratio was 48.9%.
Credit performance remained strong.
4The non-performing asset ratio was flat at 0.50% for the quarter compared to the prior quarter.
The third quarter 2026 net charge-off ratio was 0.23%, which was in line with expectations and compares to 0.22% in the second quarter.
Provision for credit losses was $86 million in third quarter 2026.
The allowance for credit losses ratio (to loans) was 1.19%, while the allowance for credit losses coverage of non-performing loans was 245.78%.
The change in the allowance quarter-over-quarter was driven largely by a more adverse macroeconomic outlook and continued loan growth.
6The preliminary Common Equity Tier 1 (CET1) ratio ended third quarter 2026 at 10.01%, up from 9.93% in the second quarter.
Third Quarter 2026 Summary
(4) Current period ratio preliminary
Corporate events
(5) As a result of the merger, during the first quarter 2026, certain immaterial changes were made to integrate the presentation of the legacy banks' yield on investment securities, which included presenting average unrealized losses on investment securities available for sale of $(408) million as a component of other assets for the Third Quarter 2026.
(5) As a result of the merger, during the first quarter 2026, certain immaterial changes were made to integrate the presentation of the legacy banks' yield on investment securities, which included presenting average unrealized losses on investment securities available for sale of $(258) million as a component of other assets during 2026.
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