Pinnacle Financial Partners announces earnings for third quarter 2026

Pinnacle Financial Partners announces earnings for third quarter 2026

Diluted earnings per share of $2.40 versus $2.19 in 3Q25

Adjusted diluted earnings per share of $2.69 versus $2.27 in3Q25

ATLANTA–(BUSINESS WIRE)–
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.

“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.

Third Quarter 2026 Performance

• 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.
• Our hiring efforts remain very successful and consistent. Pinnacle 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.

• Period-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.

• Net interest income grew 3% to $986 million in third quarter 2026. On 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. Linked-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. Excluding 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. The 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.

• The 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
	Reported												Adjusted
(dollars in millions)		3Q26				2Q26				3Q25				3Q26				2Q26				3Q25
Net income available to common shareholders	$	364			$	313			$	169			$	409			$	379			$	175
Diluted earnings per share		2.40				2.07				2.19				2.69				2.50				2.27
Total revenue		1,312				1,203				544				1,318				1,238				559
Total loans		89,808				88,076				37,933			NA				NA				NA
Total deposits		103,036				100,898				45,732			NA				NA				NA
Return on avg assets(1)		1.18	%			1.06	%			1.24	%			1.32	%			1.27	%			1.29	%
Return on avg common equity(1)		10.28				9.01				10.33				11.50				10.90				10.68
Return on avg tangible common equity(1)		16.54				14.89				14.58				18.34				17.70				15.07
Net interest margin(2)		3.40				3.44				3.26			NA				NA				NA
Efficiency ratio-TE(2)(3)		56.6				59.4				54.1				48.9				49.8				52.5
NCO ratio-QTD		0.23				0.22				0.18			NA				NA				NA
NPA ratio		0.50				0.50				0.41			NA				NA				NA
CET1 ratio(4)		10.01				9.93				10.83			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)							Linked Quarter			Linked Quarter
	3Q26			2Q26			Change			% Change
Commercial & industrial	$	52,063		$	51,115		$	948		2	%
Commercial real estate		24,037			23,595			442		2
Consumer		13,708			13,366			342		3
Total loans	$	89,808		$	88,076		$	1,732		2	%
*Amounts may not total due to rounding.

Deposits*
(dollars in millions)		3Q26			2Q26		Linked Quarter Change				Linked Quarter % Change				3Q25		Year/Year Change			Year/Year % Change
Non-interest-bearing DDA	$	20,912		$	20,657		$	255			1	%		$	8,958		$	11,954		133	%
Interest-bearing DDA		29,728			28,708			1,020			4				15,032			14,696		98
Money market		36,961			36,343			618			2				16,301			20,660		127
Savings		1,781			1,784			(3	)		—				797			984		123
Time deposits		13,654			13,406			248			2				4,644			9,010		194
Total deposits	$	103,036		$	100,898		$	2,138			2	%		$	45,732		$	57,304		125	%
*Amounts may not total due to rounding and prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.

Income Statement Summary**
(in millions, except per share data, share count in thousands)		3Q26				2Q26			Linked Quarter Change			Linked Quarter % Change				3Q25			Year/Year Change			Year/Year % Change
Net interest income	$	986			$	956			$	30		3	%		$	397			$	589		148	%
Non-interest revenue		326				247				79		32				147				179		122
Non-interest expense		749				721				28		4				303				446		147
Provision for (reversal of) credit losses		86				63				23		36				32				54		168
Income before taxes	$	477			$	419			$	58		14			$	209			$	269		129
Income tax expense (benefit)		98				91				7		7				36				62		168
Net income		379				328				51		16				173				206		119
Less: Preferred stock dividends		15				15				—		—				4				11		292
Net income available to common shareholders	$	364			$	313			$	51		16	%		$	169			$	195		116	%
Weighted average common shares outstanding, diluted		151,718				151,468				250		—	%			77,310				74,408		96	%
Diluted earnings per share	$	2.40			$	2.07			$	0.33		16			$	2.19			$	0.21		10
Adjusted diluted earnings per share		2.69				2.50				0.19		8				2.27				0.42		19
Effective tax rate		20.5	%			21.7	%									17.2	%
** Amounts may not total due to rounding and changes are calculated using unrounded amounts and may differ from calculations based on rounded figures. Additionally, prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.

Third Quarter 2026 Earnings Webcast and Conference Call

Pinnacle will host a conference call and webcast to discuss third quarter 2026 earnings results with an accompanying slide presentation at 8 a.m. ET on Oct. 22, 2026. Shareholders and other interested parties may listen to this conference call via simultaneous internet broadcast at investors.pnfp.com/events-presentations. Participants may also access the conference call at 888-506-0062 using the code 461090. The replay will be archived for at least 12 months and will be available approximately one hour after the call.

Pinnacle Financial Partners, Inc. (“Pinnacle”) is a $130.7 billion asset 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 on Jan. 1, 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 (as of June 30, 2026, according to FDIC data).

Pinnacle is an employer of choice for financial services professionals. The firm is No. 12 in FORTUNE magazine’s 2026 list of 100 Best Companies to Work For® in the U.S., its tenth 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

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 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, 2025, 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.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
INCOME STATEMENT DATA
	Nine Months Ended September 30,
(In millions, except per share data, share count in thousands)		2026				2025			’26 vs ’25
									% Change
Interest income	$	4,721			$	2,086			126	%
Interest expense		1,846				943			96
Net interest income		2,875				1,143			152
Provision for (reversal of) credit losses		224				73			207
Net interest income after provision for credit losses		2,651				1,070			148
Non-interest revenue:
Core banking fees		280				98			186
Wealth management revenue		257				103			149
Income from equity method investment		103				87			19
Capital markets income		53				11			408
Income from bank-owned life insurance		60				35			69
Investment securities gains (losses), net		(27	)			(13	)		(114	)
Total loan sales and servicing		27				17			58
Other non-interest revenue		104				31			238
Total non-interest revenue		857				369			132
Non-interest expense:
Salaries and other personnel expense		1,172				537			118
Net occupancy, equipment, and software expense		300				131			128
Amortization of intangibles		140				4			nm
FDIC insurance and other regulatory fees		63				30			112
Merger-related expense		382				8			nm
Other operating expenses		366				154			138
Total non-interest expense		2,423				864			180
Income before income taxes		1,085				575			89
Income tax expense		228				102			123
Net income		857				473			81
Less: Preferred stock dividends		45				12			259
Net income available to common shareholders	$	812			$	461			76	%
Net income per common share, basic	$	5.38			$	6.00			(10	)%
Net income per common share, diluted		5.36				5.96			(10	)
Cash dividends declared per common share		1.50				0.72			108
Return on average assets *		0.92	%			1.17	%		(25) bps
Return on average common equity *		7.79				9.63			nm
Weighted average common shares outstanding, basic		151,072				76,841			97	%
Weighted average common shares outstanding, diluted		151,553				77,243			96
nm – not meaningful
bps – basis points
* – ratios are annualized
Amounts may not total due to rounding and percentage changes are calculated using unrounded amounts and may differ from calculations based on rounded figures.
Prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
INCOME STATEMENT DATA
	2026									2025			Third Quarter
(In millions, except per share data, share count in thousands)	Third Quarter				Second Quarter				Third Quarter				’26 vs ’25
													% Change
Interest income	$	1,639			$	1,568			$	722			127	%
Interest expense		653				612				325			101
Net interest income		986				956				397			148
Provision for (reversal of) credit losses		86				63				32			168
Net interest income after provision for credit losses		900				893				365			147
Non-interest revenue:
Core banking fees		96				93				34			185
Wealth management revenue		88				85				38			130
Income from equity method investment		48				24				41			19
Capital markets income		17				18				4			300
Total loan sales and servicing		8				9				5			39
Income from bank-owned life insurance		21				19				12			69
Investment securities gains (losses), net		(1	)			(29	)			—			nm
Other non-interest revenue		49				28				13			277
Total non-interest revenue		326				247				147			122
Non-interest expense:
Salaries and other personnel expense		398				378				185			115
Net occupancy, equipment, and software expense		101				102				45			124
Amortization of intangibles		46				46				2			nm
FDIC insurance and other regulatory fees		20				20				11			76
Merger-related expense		56				51				8			nm
Other operating expenses		128				124				52			146
Total non-interest expense		749				721				303			147
Income before income taxes		477				419				209			129
Income tax expense		98				91				36			168
Net income		379				328				173			119
Less: Preferred stock dividends		15				15				4			292
Net income available to common shareholders	$	364			$	313			$	169			116	%
Per share information:
Net income per common share, basic	$	2.41			$	2.07			$	2.20			10	%
Net income per common share, diluted		2.40				2.07				2.19			10
Cash dividends declared per common share		0.50				0.50				0.24			108
Return on average assets *		1.18	%			1.06	%			1.24	%		(6) bps
Return on average common equity *		10.28				9.01				10.33			(5) bps
Weighted average common shares outstanding, basic		151,113				151,104				76,904			96	%
Weighted average common shares outstanding, diluted		151,718				151,468				77,310			96
nm – not meaningful
bps – basis points
* – ratios are annualized
Amounts may not total due to rounding and percentage changes are calculated using unrounded amounts and may differ from calculations based on rounded figures.
Prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS – UNAUDITED
		September 30, 2026				December 31, 2025				September 30, 2025
(In millions)
ASSETS
Cash and due from banks		$	545			$	359			$	303
Federal funds sold, securities purchased under resale agreements, and interest earning deposits with banks			6,676				3,206				2,962
Cash, cash equivalents, and restricted cash			7,221				3,565				3,265
Investment securities held to maturity, net			2,380				2,591				2,645
Investment securities available for sale			18,190				6,567				6,412
Loans held for sale (includes $28 million at fair value as of Sep 30, 2026)			686				97				175
Loans, net of deferred fees and costs			89,808				39,154				37,933
Allowance for loan losses			(986	)			(442	)			(434	)
Loans, net			88,822				38,712				37,499
Premises, equipment, and software, net			895				352				350
Cash surrender value of bank-owned life insurance			2,218				1,223				1,211
Goodwill			3,484				1,849				1,849
Core deposits and other intangible assets, net			999				30				18
Other assets			5,790				2,720				2,540
Total assets		$	130,685			$	57,706			$	55,964
LIABILITIES AND EQUITY
Liabilities:
Deposits:
Non-interest-bearing deposits		$	20,912			$	9,051			$	8,958
Interest-bearing deposits			82,124				38,350				36,774
Total deposits			103,036				47,401				45,732
Federal funds purchased and securities sold under repurchase agreements			586				316				326
FHLB advances and other borrowings			9,985				2,205				2,203
Other liabilities			2,468				740				847
Total liabilities			116,075				50,662				49,108
Equity:
Shareholders’ equity:
Preferred stock — no par value per share, liquidation preference 225 million non-cumulative perpetual preferred stock
Authorized — 110 million shares at Sep 30, 2026 and 10 million shares at both Dec 31, 2025 and Sep 30, 2025
Issued and outstanding — 22 million shares at Sep 30, 2026, and 225,000 shares at both Dec 31, 2025 and Sep 30, 2025			781				217				217
Common stock — $1.00 par value
Authorized — 360 million shares at Sep 30, 2026 and 180 million shares authorized at both Dec 31, 2025 and Sep 30, 2025
Issued and outstanding — 151 million shares at Sep 30, 2026 and 78 million shares at both Dec 31, 2025 and Sep 30, 2025			151				78				78
Additional paid-in capital			10,138				3,144				3,141
Accumulated other comprehensive income (loss), net			(771	)			(123	)			(160	)
Retained earnings			4,311				3,728				3,580
Total equity			14,610				7,044				6,856
Total liabilities and equity		$	130,685			$	57,706			$	55,964
Amounts may not total due to rounding. Prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	Third Quarter 2026									Third Quarter 2025
(Dollars in millions)	Average Balance			Interest			Yield/ Rate			Average Balance			Interest			Yield/ Rate
Assets
Interest earning assets:
Loans, net of deferred fees and costs(1)(2)	$	88,652		$	1,366		6.12	%		$	37,693		$	599		6.29	%
Tax-exempt securities(2)(3)		2,108			19		3.79				3,348			33		3.92
Taxable securities(3)		19,310			209		4.33				5,678			67		4.69
Interest-earning deposits with banks		4,780			43		3.57				3,021			33		4.35
Federal funds sold and securities purchased under resale agreements		88			1		3.98				83			2		9.35
Other earning assets(4)		1,229			10		3.16				256			3		4.97
Total interest earning assets		116,167			1,648		5.63				50,079			737		5.83
Goodwill		3,487									1,849
Core deposits and other intangible assets, net		1,019									19
Other assets(5)		6,831									3,267
Total assets	$	127,504								$	55,214
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	29,252		$	184		2.50	%		$	14,612		$	119		3.23	%
Money market accounts		36,904			259		2.78				16,404			128		3.10
Savings deposits		1,791			1		0.33				798			1		0.56
Time deposits		13,434			117		3.45				4,792			46		3.78
Total interest-bearing deposits		81,381			561		2.74				36,606			294		3.19
Federal funds purchased and securities sold under repurchase agreements		351			2		1.71				287			2		1.96
FHLB advances and other borrowings		7,633			90		4.73				2,208			29		5.19
Total interest-bearing liabilities		89,365			653		2.90				39,101			325		3.29
Non-interest-bearing demand deposits		20,949									8,873
Other liabilities		2,319									518
Total equity		14,871									6,722
Total liabilities and equity	$	127,504								$	55,214
Net interest income and net interest margin, taxable equivalent (2)(6)				$	995		3.40	%					$	412		3.26	%
Less: taxable-equivalent adjustment					9									15
Net interest income				$	986								$	397

(1)	Average loans are shown net of unearned income. NPLs are included. Interest income includes fees as follows: Third Quarter 2026 — $19 million, and Third Quarter 2025 — $11 million.
(2)	Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans and securities to a taxable-equivalent basis.
(3)	Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(4)	Includes loans held for sale, trading account assets, and FHLB and Federal Reserve Bank Stock.
(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.
(6)	The net interest margin is calculated by dividing annualized net interest income-taxable equivalent (TE) by average total interest earning assets.
	Amounts may not total due to rounding and yield/rates are calculated using unrounded amounts and may differ from calculations based on rounded figures.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
AVERAGE BALANCES, INTEREST, AND YIELDS/RATES
(Unaudited)
	Nine Months Ended September 30,
	2026									2025
(Dollars in millions)	Average Balance			Interest			Yield/ Rate			Average Balance			Interest			Yield/ Rate
Assets
Interest earning assets:
Loans, net of deferred fees and costs(1)(2)	$	86,268		$	3,950		6.12	%		$	36,907		$	1,733		6.27	%
Tax-exempt securities(2)(3)		2,658			78		3.96				3,319			95		3.85
Taxable securities(3)		17,636			567		4.28				5,580			196		4.70
Interest-earning deposits with banks		4,991			131		3.52				2,732			88		4.33
Federal funds sold and securities purchased under resale agreements		121			5		5.24				73			6		10.45
Other earning assets(4)		948			25		3.54				254			9		5.07
Total interest earning assets		112,622		$	4,756		5.65	%			48,865		$	2,127		5.82	%
Goodwill		3,522									1,849
Core deposits and other intangible assets, net		1,055									20
Other assets(5)		7,142									3,131
Total assets	$	124,341								$	53,865
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing demand deposits	$	29,756		$	558		2.51	%		$	14,324		$	345		3.23	%
Money market accounts		34,905			702		2.69				15,993			370		3.09
Savings deposits		1,810			5		0.36				798			3		0.48
Time deposits		13,488			351		3.48				4,613			134		3.88
Total interest-bearing deposits		79,959			1,616		2.70				35,728			852		3.19
Federal funds purchased and securities sold under repurchase agreements		346			4		1.57				258			4		1.90
FHLB advances and other borrowings		6,298			226		4.81				2,260			87		5.18
Total interest-bearing liabilities		86,603			1,846		2.85				38,246			943		3.30
Non-interest-bearing demand deposits		20,638									8,525
Other liabilities		2,372									480
Total equity		14,728									6,614
Total liabilities and equity	$	124,341								$	53,865
Net interest income and net interest margin, taxable equivalent (2)(6)				$	2,910		3.45	%					$	1,184		3.24	%
Less: taxable-equivalent adjustment					35									41
Net interest income				$	2,875								$	1,143

(1)	Average loans are shown net of unearned income. NPLs are included. Interest income includes fees as follows: 2026 — $56 million and 2025 — $31 million.
(2)	Reflects taxable-equivalent adjustments, using the statutory federal tax rate of 21%, in adjusting interest on tax-exempt loans and securities to a taxable-equivalent basis.
(3)	Securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(4)	Includes loans held for sale, trading account assets, and FHLB and Federal Reserve Bank Stock.
(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.
(6)	The net interest margin is calculated by dividing annualized net interest income-taxable equivalent (TE) by average total interest earning assets.
	Amounts may not total due to rounding and yield/rates are calculated using unrounded amounts and may differ from calculations based on rounded figures.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
LOANS OUTSTANDING BY TYPE
(Unaudited)		Total Loans			Total Loans			Linked Quarter
(Dollars in millions)
Loan Type		September 30, 2026			June 30, 2026			% Change
Commercial, Financial, and Agricultural		$	37,456		$	36,676		2	%
Owner-Occupied			14,607			14,439		1
Total Commercial & Industrial			52,063			51,115		2
Multi-Family			6,433			6,592		(2	)
Hotels			2,487			2,528		(2	)
Office Buildings			2,565			2,684		(4	)
Retail			3,861			3,658		6
Warehouse/Industrial			3,402			3,294		3
Other Investment Property			2,316			1,991		16
Total Investment Properties			21,064			20,747		2
1-4 Family Construction			817			772		6
1-4 Family Investment Mortgage			1,178			1,145		3
Total 1-4 Family Properties			1,995			1,917		4
Commercial Development			292			271		8
Residential Development			258			255		1
Land Acquisition			428			405		6
Land and Development			978			931		5
Total Commercial Real Estate			24,037			23,595		2
Consumer Mortgages			8,701			8,459		3
Home Equity			3,001			3,002		—
Credit Cards			252			236		7
Other Consumer Loans			1,754			1,669		5
Total Consumer			13,708			13,366		3
Total		$	89,808		$	88,076		2	%
NON-PERFORMING LOANS COMPOSITION
(Unaudited)		Total Non-performing Loans			Total Non-performing Loans			Linked Quarter
(Dollars in millions)
Loan Type		September 30, 2026			June 30, 2026			% Change
Commercial, Financial, and Agricultural		$	162		$	138		17	%
Owner-Occupied			48			69		(30	)
Total Commercial & Industrial			210			207		1
Multi-Family			27			35		(23	)
Office Buildings			38			35		9
Shopping Centers			—			2		(100	)
Warehouses			2			—		nm
Other Investment Property			55			50		10
Total Investment Properties			122			122		—
1-4 Family Construction			—			1		(100	)
1-4 Family Investment Mortgage			4			1		300
Total 1-4 Family Properties			4			2		100
Land and Development			—			—		nm
Total Commercial Real Estate			126			124		2
Consumer Mortgages			72			64		13
Home Equity			19			16		19
Other Consumer Loans			6			4		50
Total Consumer			97			84		15
Total		$	433		$	415		4	%
nm – not meaningful
Amounts may not total due to rounding.
Prior periods’ consolidated financial statements are reclassified whenever necessary to conform to the current periods’ presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CREDIT QUALITY DATA
(Unaudited)
(Dollars in millions)		2026								2025				Third Quarter
		Third				Second				Third				’26 vs ’25
		Quarter				Quarter				Quarter				% Change
Non-performing Loans (NPLs)		$	433			$	415			$	150			189	%
Other Real Estate and Other Assets			17				29				5			240
Non-performing Assets (NPAs)			450				444				155			190
Allowance for Loan Losses (ALL)			986				956				434			127
Reserve for Unfunded Commitments			79				73				16			394
Allowance for Credit Losses (ACL)			1,065				1,029				450			137
Net Charge-Offs – Quarter			50				48				17
Net Charge-Offs – YTD			147				97				50
Net Charge-Offs / Average Loans – Quarter (1)			0.23	%			0.22				0.18
Net Charge-Offs / Average Loans – YTD (1)			0.23				0.23				0.18
NPLs / Loans			0.48				0.47				0.39
NPAs / Loans, ORE and specific other assets			0.50				0.50				0.41
ACL/Loans			1.19				1.17				1.19
ALL/Loans			1.10				1.09				1.15
ACL/NPLs			245.78				248.18				301.03
ALL/NPLs			227.43				230.52				290.25
Past Due Loans over 90 days and Still Accruing		$	8			$	9			$	3			167
As a Percentage of Loans Outstanding			0.01	%			0.01	%			0.01	%
Total Past Due Loans and Still Accruing		$	130			$	127			$	65			100
As a Percentage of Loans Outstanding			0.14	%			0.14	%			0.17	%
(1) Ratio is annualized.
Amounts may not total due to rounding.
SELECTED CAPITAL INFORMATION (1)
(Unaudited)
(Dollars in millions)
		September 30, 2026				December 31, 2025
Common Equity Tier 1 Capital Ratio			10.01	%			10.88	%
Tier 1 Capital Ratio			10.77				11.34
Total Risk-Based Capital Ratio			12.22				12.97
Tier 1 Leverage Ratio			8.98				9.57
Total Equity as a Percentage of Total Assets			11.18				12.21
Tangible Common Equity Ratio (2)			7.41				8.86
Book Value Per Common Share (3)			91.52				87.90
Tangible Book Value Per Common Share (4)			61.86				63.71
(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 Equity less Preferred Stock divided by total common shares outstanding.
(4) Tangible Book Value Per Common Share consists of Total 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 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 net income available to common shareholders; adjusted diluted earnings per share; 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 total non-interest revenue; total non-interest expense; total revenue; efficiency ratio-TE; PPNR; return on average assets; net income available to common shareholders; diluted earnings per share; return on average common equity; the ratio of total 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 Pinnacle to assist management and investors in evaluating its 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 non-interest revenue and adjusted revenue (TE) are measures used by management to evaluate non-interest 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. Adjusted net income available to common shareholders, adjusted net income per common share, diluted, 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 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. 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. 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
(dollars in millions)		3Q26				2Q26				3Q25
Adjusted non-interest revenue
Total non-interest revenue	$	326			$	247			$	147
Investment securities (gains) losses, net		1				29				—
Gain on disposition of investment		(4	)			—				—
Fair value adjustment on non-qualified deferred compensation		—				(6	)			—
Adjusted non-interest revenue	$	323			$	270			$	147
Adjusted non-interest expense
Total non-interest expense	$	749			$	721			$	303
Merger-related expense		(56	)			(51	)			(8	)
Valuation adjustment to Visa derivative		(3	)			(2	)			—
Fair value adjustment on non-qualified deferred compensation		—				(6	)			—
Adjusted non-interest expense	$	690			$	662			$	295
Reconciliation of Non-GAAP Financial Measures, continued
(dollars in millions)		3Q26				2Q26				3Q25
Adjusted revenue (TE) and tangible efficiency ratio
Adjusted non-interest expense	$	690			$	662			$	295
Amortization of intangibles		(46	)			(46	)			(2	)
Adjusted tangible non-interest expense	$	644			$	616			$	293
Net interest income	$	986			$	956			$	397
Tax equivalent adjustment		9				12				15
Net interest income (TE)		995				968				412
Net interest income	$	986			$	956			$	397
Total non-interest revenue		326				247				147
Total revenue	$	1,312			$	1,203			$	544
Tax equivalent adjustment		9				12				15
Total TE revenue		1,321				1,215				559
Gain on disposition of investment		(4	)			—				—
Investment securities losses (gains), net		1				29				—
Fair value adjustment on non-qualified deferred compensation		—				(6	)			—
Adjusted revenue (TE)	$	1,318			$	1,238			$	559
Efficiency ratio-TE (1)		56.6	%			59.4	%			54.1	%
Adjusted tangible efficiency ratio (1)		48.9				49.8				52.5
Adjusted pre-provision net revenue
Net interest income	$	986			$	956			$	397
Total non-interest revenue		326				247				147
Total non-interest expense		(749	)			(721	)			(303	)
Pre-provision net revenue (PPNR)	$	563			$	482			$	241
Adjusted revenue (TE)	$	1,318			$	1,238			$	559
Adjusted non-interest expense		(690	)			(662	)			(295	)
Adjusted PPNR	$	628			$	576			$	264
(1) Amounts have been calculated using whole dollar values and amounts may not total due to rounding.

Reconciliation of Non-GAAP Financial Measures, continued
(In millions, except per share data, share count in thousands)		3Q26				2Q26				3Q25
Adjusted return on average assets (annualized)
Net income	$	379			$	328			$	173
Gain on disposition of investment		(4	)			—				—
Valuation adjustment to Visa derivative		3				2				—
Investment securities losses (gains), net		1				29				—
Merger-related expense (1)		56				51				8
Tax effect of adjustments (2)		(11	)			(16	)			(2	)
Adjusted net income	$	424			$	394			$	179
Net income annualized (3)	$	1,507			$	1,316			$	687
Adjusted net income annualized (3)	$	1,679			$	1,580			$	710
Total average assets	$	127,504			$	124,187			$	55,214
Return on average assets (annualized) (3)		1.18	%			1.06	%			1.24	%
Adjusted return on average assets (annualized) (3)		1.32				1.27				1.29
Adjusted net income available to common shareholders and adjusted diluted earnings per share
Net income available to common shareholders	$	364			$	313			$	169
Gain on disposition of investment		(4	)			—				—
Valuation adjustment to Visa derivative		3				2				—
Investment securities losses (gains), net		1				29				—
Merger-related expense (1)		56				51				8
Tax effect of adjustments (2)		(11	)			(16	)			(2	)
Adjusted net income available to common shareholders	$	409			$	379			$	175
Weighted average common shares outstanding, diluted		151,718				151,468				77,310
Diluted earnings per share (3)	$	2.40			$	2.07			$	2.19
Adjusted diluted earnings per share (3)		2.69				2.50				2.27
(1) A portion of this item was non-taxable.
(2) A blended tax rate of 17.1% for the full fiscal year 2026 was applied to merger-related expense which takes into consideration the deductibility and non-deductibility of certain merger-related expense items for tax purposes and an assumed 24% marginal rate was applied to all other adjusted items for 2026. For 2025 an assumed marginal tax rate of 25% was applied.
(3) Amounts have been calculated using whole dollar values.
Amounts may not total due to rounding

Reconciliation of Non-GAAP Financial Measures, continued
(dollars in millions)		3Q26				2Q26				3Q25
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	$	364			$	313			$	169
Gain on disposition of investment		(4	)			—				—
Valuation adjustment to Visa derivative		3				2				—
Investment securities losses (gains), net		1				29				—
Merger-related expense (1)		56				51				8
Tax effect of adjustments (2)		(11	)			(16	)			(2	)
Adjusted net income available to common shareholders	$	409			$	379			$	175
Adjusted net income available to common shareholders annualized (3)	$	1,620			$	1,520			$	695
Amortization of intangibles, tax effected, annualized (2)(3)		137				142				4
Adjusted net income available to common shareholders excluding amortization of intangibles annualized (3)	$	1,757			$	1,662			$	699
Net income available to common shareholders annualized (3)	$	1,448			$	1,255			$	672
Amortization of intangibles, tax effected, annualized (2)		137				142				4
Net income available to common shareholders excluding amortization of intangibles annualized (3)	$	1,585			$	1,397			$	676
Total average shareholders’ equity less preferred stock	$	14,090			$	13,941			$	6,505
Average goodwill		(3,487	)			(3,479	)			(1,849	)
Average other intangible assets, net		(1,019	)			(1,069	)			(19	)
Total average tangible shareholders’ equity less preferred stock	$	9,584			$	9,393			$	4,637
Return on average common equity (annualized) (3)		10.28	%			9.01	%			10.33	%
Adjusted return on average common equity (annualized) (3)		11.50				10.90				10.68
Return on average tangible common equity (annualized) (3)		16.54				14.89				14.58
Adjusted return on average tangible common equity (annualized) (3)		18.34				17.70				15.07
(1) A portion of this item was non-taxable.
(2) A blended tax rate of 17.1% for the full fiscal year 2026 was applied to merger-related expense which takes into consideration the deductibility and non-deductibility of certain merger-related expense items for tax purposes and an assumed 24% marginal rate was applied to all other adjusted items for 2026. For 2025 an assumed marginal tax rate of 25% was applied.
(3) Amounts have been calculated using whole dollar values.
Amounts may not total due to rounding.

(In millions, except per share data, share count in thousands)	September 30, 2026				December 31, 2025				September 30, 2025
Tangible common equity ratio
Total assets	$	130,685			$	57,706			$	55,964
Goodwill		(3,484	)			(1,849	)			(1,849	)
Core deposits and other intangible assets, net		(999	)			(30	)			(18	)
Tangible assets	$	126,202			$	55,827			$	54,097
Total equity	$	14,610			$	7,044			$	6,856
Goodwill		(3,484	)			(1,849	)			(1,849	)
Core deposits and other intangible assets, net		(999	)			(30	)			(18	)
Preferred Stock, no par value		(781	)			(217	)			(217	)
Tangible common equity	$	9,346			$	4,948			$	4,772
Total equity to total assets ratio (1)		11.18	%			12.21	%			12.25	%
Tangible common equity ratio (1)		7.41				8.86				8.82
Tangible common equity	$	9,346			$	4,948			$	4,772
Common shares outstanding		151,115				77,662				77,558
Book value per common share (1)		91.52				87.90				85.60
Tangible book value per common share (1)	$	61.86			$	63.71			$	61.53
(1) Amounts have been calculated using whole dollar values and may not total due to rounding.

 

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