Pinnacle Financial Partners In - PNFP STOCK NEWS

PNFP Capital Markets, the investment bank subsidiary of Pinnacle Bank, has expanded its team by adding six members from Fidus Partners in Charlotte, NC. The new additions include Ed Imbrogno (Co-founder and Managing Director), John Cheek (Managing Director), Stephen Dockery (Managing Director), Adam Dings (Vice President), and two analysts. This expansion brings PNFP Capital Markets' team to 16 members, with offices now in Nashville, Knoxville, and Charlotte. The firm specializes in middle-market investment banking, focusing on mergers and acquisitions and capital advisory services.

Pinnacle Financial Partners (PNFP) has secured the No. 5 position on American Banker magazine's Best Banks to Work For list, maintaining its top-five status nationally. The bank ranks No. 1 among institutions with assets over $10 billion, with $49.2 billion in assets at the time of ranking. This marks Pinnacle's 12th consecutive year on the list since its inception in 2013. The ranking process involves evaluating workplace practices and policies, followed by employee surveys assessing workplace experiences. Notably, Pinnacle is also ranked No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For® and holds the top position in the Nashville-Murfreesboro-Franklin MSA.

Pinnacle Financial Partners has been named one of the 2024 Fortune Best Workplaces for Women, ranking No. 8 on the prestigious list. This marks the firm's seventh recognition, following previous honors in 2023, 2022, 2021, 2020, 2018, and 2017. The selection process analyzed survey responses from nearly 600,000 women at Great Place To Work Certified™ companies, with strict eligibility criteria including minimum women representation requirements.

The company, which manages approximately $50.7 billion in assets as of September 2024, is currently the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA. Pinnacle also ranks No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For® in the U.S.

Pinnacle Financial Partners (PNFP) reported net income per diluted common share of $1.86 for Q3 2024, up 10.1% from $1.69 in Q3 2023. The company saw strong growth in earning assets and core deposits, with total assets reaching $50.7 billion, a 6.7% year-over-year increase. Net interest margin expanded to 3.22%, up from 3.06% in Q3 2023. Noninterest income grew 26.9% year-over-year to $115.2 million, driven by a 29.7% increase in wealth management revenues. However, income from BHG decreased 34.4% year-over-year. Noninterest expenses increased 21.6% year-over-year to $259.3 million, primarily due to higher salaries and employee benefits. The company's credit quality remained strong, with net charge-offs at 0.21% of average loans. PNFP's board declared a quarterly cash dividend of $0.22 per common share.

Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has announced the dates for its third quarter 2024 earnings release and conference call. The financial results will be released on Tuesday, October 15, 2024, after market close. A live webcast will be hosted on Wednesday, October 16, at 8:30 a.m. CDT to review the results, business outlook, and other matters.

Investors can access the earnings release on Pinnacle's website at www.pnfp.com. For audio-only access to the call, dial 1-877-209-7255. The webcast will be archived for 90 days following the presentation. Pinnacle, ranked No. 11 on FORTUNE's 2024 list of 100 Best Companies to Work For®, is the top bank in the Nashville-Murfreesboro-Franklin MSA and the second-largest bank holding company in Tennessee, with approximately $49.4 billion in assets as of June 30, 2024.

Pinnacle Financial Partners (PNFP) maintains its position as the largest bank in the Nashville MSA by deposits for the seventh consecutive year, holding $19.7 billion in local deposits, representing 21.2% of the total market. The firm is now the second-largest bank in Tennessee, with $27.7 billion in deposits and 12.4% market share. Pinnacle grew deposits in 21 out of 27 MSAs, including 12 with double-digit growth and one with triple-digit growth. Notable achievements include:

- Ranking 24th in the Washington, D.C. area with 56.1% growth
- Becoming a top 25 bank in Atlanta
- Claiming the second spot in Chattanooga with $2.2 billion in deposits
- Reaching No. 1 in Cleveland, TN
- Growing to $2.9 billion in deposits in Knoxville
- Holding $6.5 billion in deposits across North Carolina

Pinnacle Financial Partners has been ranked the No. 3 Best Financial Services Firm to Work For in the nation by FORTUNE magazine and Great Place to Work®. This marks the eighth consecutive year Pinnacle has earned this recognition, climbing from No. 7 in 2023. The ranking is based on anonymous feedback from over 194,000 employees in the financial services and insurance industries.

Key highlights of Pinnacle's workplace culture include:

• 98% of employees say it's a great place to work
• 94% feel they are paid fairly
• 98% report fair treatment regardless of race or gender

Pinnacle's commitment to creating an exceptional workplace is central to its business model, fostering high employee engagement, exceptional client service, and long-term shareholder value. The firm, with approximately $49.4 billion in assets as of June 30, 2024, is the fastest-growing bank in the Nashville-Murfreesboro-Franklin MSA and operates across several urban markets in the Southeast.

Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has been ranked No. 9 on FORTUNE magazine's list of Best Workplaces for Millennials. This marks the firm's seventh consecutive appearance on this prestigious list. Earlier this year, Pinnacle was also named No. 11 on the overall list of Best Companies to Work For in the United States.

Key highlights from the Great Place To Work survey include:

• 98% of Pinnacle associates say it's a great place to work
• 99% feel good about their community contributions
• 99% believe clients would rate their service as excellent
• 98% feel welcome when joining the company

Pinnacle, with approximately $49.4 billion in assets as of June 30, 2024, is the second-largest bank holding company in Tennessee and operates in several urban markets across the Southeast.

Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has appointed Charissa Sumerlin as the new chief credit officer, effective immediately. Sumerlin, who joined Pinnacle in 2018, brings extensive experience in both CRE and C&I credit. She succeeds Harvey White, who served as interim chief credit officer following Tim Huestis' sudden death in late 2023.

Sumerlin's appointment was unanimously approved by the Board of Directors on July 16, 2024. She previously served as deputy chief credit officer and played a key role in the firm's major re-rating project in 2022. Pinnacle, with approximately $49.4 billion in assets as of June 30, 2024, is the second-largest bank holding company headquartered in Tennessee and operates primarily in urban markets across the Southeast.