Two southeastern banks have announced they are merging in a blockbuster $8.6 billion deal.

Nashville-based Pinnacle Financial Partners and Synovus Financial Corp. of Columbus, Ga. will combine in an all-stock transaction.

According to the companies, the deal will create the highest-performing regional bank in the South’s fastest-growth markets.

It is expected to close in the first quarter of 2026, subject regulatory approval.

The combined company, according to a news release, will operate under the Pinnacle Financial Partners and Pinnacle Bank name and brand.

Synovus CEO and President Kevin Blair will serve as president and CEO, while Pinnacle CEO Terry Turner will serve as chairman of the board.

In Alabama, Chris Abele, executive director of middle market banking at Synovus, will be the state leader. Synovus has 40 Alabama locations. Pinnacle has locations in the Birmingham and Huntsville areas.

The combined company’s board will have 15 directors, with eight from the Pinnacle board and seven from the Synovus board.

Turner said the deal will “extend our legacy of building share in the most attractive markets nationally.”

Blair said the two companies are “high-performing institutions with one powerful future.”

“Our belief in the success of this merger is grounded in a decade of strong results and proven execution from both companies, each delivering top-tier earnings and total shareholder returns,” he said.