"I am incredibly excited about the completion of the merger with Morris to position Vallant as a leading Georgia-based community bank holding company," said L. Jackson McConnell, Jr., Chairman and CEO of Vallant. "Each company went into the merger with strong performance, and Vallant has strong prospects for the future."
Vallant Financial, Inc. Quarterly Report: (Highlights)
Vallant, formerly known as Pinnacle Financial Corporation, completed its merger with Morris effective April 1, 2026.
Vallant and Morris operated as independent companies through March 31, 2026.
Effective April 1, 2026, the combined company operates as Vallant Financial, Inc.
Effective April 1, 2026, the name of Pinnacle Bank was changed to Vallant Bank. The trade names "Pinnacle Bank, a division of Vallant Bank" and "Morris Bank, a division of Vallant Bank" will be used pending information systems conversion, expected to occur during the second quarter.
Consolidating financial statements showing both Vallant and Morris are not yet available.
Total assets for the combined company on a pro forma basis as of March 31, 2026, were $3.98 billion.
Pinnacle Bank experienced loan growth of 3.34% as compared to year end 2025.
Morris Bank experienced a decrease in total loans of 1.96% as compared to year end 2025.
Total deposits for both banks increased during the first quarter.
Vallant posted quarterly net income of $6.4 million, or $4.63 per diluted share, compared to $6.3 million, or $4.51 per diluted share, in the same quarter last year.
Due to merger-related charges of $14.5 million, Morris posted a loss of $6.75 million in the first quarter compared to net income of $6.37 million or $0.60 per share in the prior quarter.
Full consolidation will occur in the second quarter and be reflected in the financial release for June 30, 2026.
First Quarter Results for Vallant and Pinnacle Bank (excluding Morris and Morris Bank)
Vallant grew total assets 3.43% quarter over quarter to $2.34 billion. The growth was driven by quarterly growth in deposits of 3.80% from $1.99 billion at year end to $2.06 billion as of March 31, 2026. Total deposits were $2.02 billion at the end of ...
