MOBILE, Ala. — Pinnacle Financial Partners says its first year as a combined company with Synovus is producing strong results on the Gulf Coast, with the bank reporting its biggest Alabama market share gains in Mobile and Baldwin counties.
According to newly released deposit data from the Federal Deposit Insurance Corp., Pinnacle held $8.2 billion in Alabama deposits as of June 30. The bank says that places it No. 5 in the state, with a 5.7% share of the deposit market, and makes it the fastest-growing financial institution in the Mobile market.
Pinnacle said deposits grew by nearly $200 million across the Mobile market and the Daphne-Fairhope-Foley market, which covers Baldwin County, the two areas where it recorded its largest market share gains in Alabama.
Pinnacle’s Alabama numbers at a glance
- Alabama deposits: $8.2 billion as of June 30, 2026
- Statewide rank: No. 5, according to the bank
- Statewide deposit market share: 5.7%
- Local growth: Nearly $200 million in deposit growth in the Mobile and Daphne-Fairhope-Foley markets
- Mobile market: Pinnacle says it is the fastest-growing financial institution in the market
- New hires: 12 new revenue-producing employees in Alabama and the Florida Panhandle through July 15
- Data source: FDIC deposit data as of June 30
The Synovus merger behind the numbers
The figures cover Pinnacle’s first year as a combined company. Pinnacle, founded in Nashville, Tennessee, in 2000, and Synovus, a Columbus, Georgia, bank whose roots date to 1888, announced their all-stock merger in July 2025. The deal, valued at about $8.6 billion, closed at the start of January 2026, ahead of the original schedule.
The combined company is one of the largest regional banks based in the Southeast, with roughly $117 billion in assets at closing. Its holding company is headquartered in Atlanta, while the bank itself, Pinnacle Bank, is based in Nashville. Former Synovus CEO Kevin Blair leads the combined company as chief executive, and former Pinnacle CEO Terry Turner serves as chairman.
Synovus brought a long-established Alabama presence to the deal. The combined company has operated under both the Pinnacle and Synovus names during the transition. The company has said it plans to complete its systems conversion and move to the single Pinnacle name in early 2027.
Keeping clients during integration
Bank mergers are often a vulnerable time for customer relationships. Account changes, new systems and new faces can prompt customers to shop around, and competitors frequently try to recruit bankers and clients from merging institutions.
Pinnacle said that throughout the integration, its local financial advisors have continued serving existing clients and pursuing new relationships, while separate teams have handled the operational side of the merger behind the scenes. That approach is central to Pinnacle’s long-standing business model, which emphasizes hiring experienced local bankers and letting them build relationships in their home markets.
The bank also said it added 12 new revenue-producing employees in Alabama and the Florida Panhandle through July 15. Revenue-producing roles typically include commercial and private bankers, relationship managers and other client-facing positions responsible for bringing in loans and deposits.
What the FDIC deposit data measures
The figures come from the FDIC’s annual Summary of Deposits, a survey of every FDIC-insured bank branch in the country. Banks report the deposits held at each office as of June 30, and the FDIC typically releases the results later in the year.
Because the data is reported branch by branch, it is the most widely used public measure of how banks stack up in specific states, metropolitan areas and counties. Banks, regulators and analysts use it to track market share and competition, and regulators rely on it when reviewing proposed mergers to see whether a deal would concentrate too much of a local market in one institution.
A few things to keep in mind when reading the numbers:
- It is a snapshot. The survey reflects balances on a single date, June 30, and deposits can move significantly during the rest of the year.
- Location is assigned by branch. Deposits are credited to the branch where an account is booked, which is not always where the customer lives or does business.
- Rankings are bank claims. The market share and ranking figures in this story are Pinnacle’s own reading of the FDIC data.
Why Mobile and Baldwin counties matter to banks
Coastal Alabama has become one of the most competitive banking markets in the state, and it is not hard to see why. Baldwin County has been among Alabama’s fastest-growing counties for years, adding residents, retirees and businesses across the Eastern Shore and south Baldwin communities such as Foley, Gulf Shores and Orange Beach. The Daphne-Fairhope-Foley metro area used in federal statistics covers all of Baldwin County.
Across the bay, Mobile’s economy is anchored by the Port of Mobile, the Airbus aircraft assembly line at the Brookley Aeroplex, shipbuilding, health care, chemicals and logistics. Large projects on the horizon, including the planned I-10 Mobile River Bridge and a new downtown arena, have added to the business activity in the region.
That growth means more businesses needing loans and treasury services, more new residents opening accounts and more wealth to manage, all of which draws national, regional and community banks to compete for customers.
What it means for customers
For most local customers of Pinnacle and Synovus, day-to-day banking has continued through the merger with familiar branches and bankers. The more noticeable changes will likely come with the planned systems conversion and move to the Pinnacle name in early 2027, when customers may see new account materials, online banking platforms and signage.
Customers with questions about how the conversion will affect their accounts should watch for notices from the bank and reach out to their local branch or banker. Deposits at FDIC-insured banks remain insured up to the standard limit of $250,000 per depositor, per insured bank, for each account ownership category. Customers who held accounts at both legacy banks may want to review their total balances with that limit in mind now that the banks have combined.
Looking ahead
Pinnacle’s results come as the combined company works through its first full year after the merger. With the integration still underway and the name change planned for 2027, the bank’s performance in fast-growing markets like Mobile and Baldwin County will be one of the measures of whether the combination is paying off locally.