Pinnacle Financial Partners (PNFP) investor relations material

Executive summary

• Q2 2026 marked the first full quarter post-merger with Synovus, delivering strong financial and operational results, with adjusted net income of $379 million ($2.50 per share) and net income available to common shareholders of $313 million ($2.07 per share).

• The merger, effective January 1, 2026, significantly expanded scale and market presence, with integration ahead of schedule and high employee engagement and client satisfaction.

• Added 74 experienced revenue producers in Q2, up 48% from Q1, with high retention and continued hiring momentum.

Financial highlights

• Adjusted diluted EPS was $2.50 (up 5% QoQ, 26% YTD), and net income available to common shareholders was $313 million; net interest income was $956 million, up 2% sequentially.

• Total revenue reached $1.20 billion, with adjusted revenue (TE) at $1.24 billion; non-interest revenue was $247 million, and adjusted non-interest revenue was $270 million.

• Non-interest expense was $721 million, with adjusted non-interest expense at $662 million, down 2% sequentially; efficiency ratio (TE) was 59.4%, and adjusted tangible efficiency ratio was 49.8%.

• Loans grew $2.9 billion sequentially (14% annualized), reaching $88.1 billion at June 30, 2026; deposits increased $795 million to $100.9 billion.

• Credit quality remained strong: net charge-off ratio was 0.22%, non-performing asset ratio was 0.5%, and allowance for credit losses ratio was 1.17%.

Outlook and guidance

• 2026 guidance unchanged: loan growth tracking at top end of 9%-11% range, deposits in middle of 8%-10% range, adjusted revenue (TE) $5.00-$5.20 billion, and adjusted non-interest expense $2.675-$2.775 billion.

• Full-year NIM expected in 3.44%-3.47% range; net charge-offs/average loans expected at 0.20%-0.25%; adjusted tax rate 20%-21%.

• Net interest income growth projected at 2-4% QoQ in Q3 2026 and 1-3% QoQ in Q4 2026.

• No share repurchases planned for 2026; capital deployment focused on organic growth.