Pinnacle (PNFP) Q1 2026 Earnings Transcript

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Thu, April 23, 2026 astatine 9:44 AM CDT 57 min read

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Thursday, April 23, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Kevin Blair

• Chief Financial Officer — Andrew Gregory

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Kevin Blair: Thank you, Jennifer. Good morning, everyone, and acknowledgment for joining us. January 1st marked the authoritative adjacent of our merger with Synovus. And alternatively than dilatory down, we deed the crushed running. We're choosing to lead. In our archetypal 90 days together, we focused connected what has ever mattered astatine Pinnacle, gathering the champion team, delivering exceptional lawsuit experiences and translating that into sustainable, profitable growth. The aboriginal results talk for themselves. For the archetypal quarter, Pinnacle delivered diluted net per stock of $0.89 and adjusted diluted EPS of $2.39. On an integrated basis, we generated implicit $2 cardinal successful indebtedness maturation and astir $2 cardinal successful halfway deposit growth, close successful enactment with our 2026 expectations.

The nett involvement borderline expanded into the apical fractional of our people scope and adjusted noninterest gross grew implicit 20% versus combined results successful the archetypal 4th of 2025. Moreover, recognition remained stable, and we proceed to spot spot successful cardinal metrics and ratios specified arsenic adjusted instrumentality connected tangible communal equity and adjusted tangible efficiency. As expected, our results this 4th included $275 cardinal of merger-related costs. At the aforesaid time, our recruiting motor continues to bash what it does best, when. We added 50 experienced gross producers during the quarter, up 22% connected a combined ground from the 4th fourth of 2025 and up 11% connected a combined ground from the anterior year.

This momentum has carried into April with different 37 caller hires oregon accepted offers. That's not a coincidence. Great bankers are drawn to environments that are empowering, engaging and frictionless making it easier to present distinctive seamless lawsuit service. Integration is progressing up of plan, and importantly, without losing the psyche of what makes Pinnacle work. Our operating exemplary is successful afloat motion. Leadership accountability is clear. Technology and strategy decisions are mostly complete, and we stay firmly connected way for operational and marque conversion by March 2027. Most importantly, our clients noticed positively. In the latest Coalition Greenwich survey, bequest Pinnacle ranked #1 nationally successful Best Bank awards earned portion Synovus ranked 6.

According to Coalition Greenwich, outcomes similar this are exceptionally uncommon successful slope mergers and they don't hap by accident. We person ne'er viewed this arsenic a merger of 2 companies. It's a merger of relationships, and that has met 1 wide mandate from time 1, support what clients worth and marque it better. These results archer america we're doing both. Our squad members felt it too. This month, Pinnacle was named #12 connected the Fortune 100 Best Companies to Work For List, our tenth consecutive twelvemonth earning that recognition. Through a play of existent change, our civilization didn't fade, it showed up. Finally, past month, Pinnacle joined the KBW NASDAQ Bank Index oregon BKX.