Pinnacle Financial Partners In - PNFP STOCK NEWS

Pinnacle Financial Partners has released its 2022 Annual Report, showcasing its resilience and stability in challenging economic environments. The report emphasizes a unique growth model centered on winning market share rather than relying on traditional loan demand. This strategy allows Pinnacle to mitigate the impact of interest rate fluctuations and economic downturns. The firm operates in 17 markets across the Southeast, managing approximately $42.0 billion in assets as of December 31, 2022. Recognized as one of America’s Best Banks, Pinnacle continues to adapt by assisting clients from troubled banks and reinforcing its commitment to long-term shareholder value.

Pinnacle Financial Partners has been ranked 27th among the largest banks in the U.S. by Forbes, surpassing competitors in Tennessee, North Carolina, South Carolina, and Georgia. The ranking reflects Pinnacle's strong performance metrics, including a 17.6% return on equity and a total asset valuation of $41 billion. Pinnacle's president and CEO, M. Terry Turner, cites employee engagement and responsible decision-making as key factors driving the company's success. This year marks the 14th release of Forbes' list, reinforcing Pinnacle's reputation as a top financial institution in the Southeastern U.S.

Pinnacle Financial Partners reported a net income per diluted share of $1.76 for Q4 2022, up 2.9% from Q4 2021. For the year, net income reached $7.17, marking a 6.2% increase year-over-year. Loan growth was strong at 19.2% linked quarter, while deposits grew 15.1%. The firm experienced a 33.8% rise in net interest income year-over-year. However, noninterest income fell 18.3% in Q4 2022 compared to Q4 2021. Pinnacle also reported a new share repurchase program of up to $125 million. The board declared a quarterly cash dividend of $0.22 per common share.

Pinnacle Financial Partners (PNFP) will release its Q4 2022 financial results on January 17, 2023, after market close. A live webcast to discuss these results will be held on January 18, 2023, at 8:30 a.m. CST. PNFP is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA and is listed among the top 25 banks in the U.S. by Forbes. As of September 30, 2022, Pinnacle's assets reached approximately $41.0 billion.

The earnings release will be available on their investor relations page.

Pinnacle Financial Partners reported a strong third quarter for 2022, with net income per diluted share rising to $1.91, up 9.1% from last year. Total assets reached $41.0 billion, marking a 12.3% year-over-year increase. Loans grew by 20.9%, while core deposits increased by 9.8%. Net interest income surged 28.7% year-over-year to $305.8 million. However, the company noted a decline in Paycheck Protection Program (PPP) income, contributing to an overall challenging economic landscape. The Board declared a quarterly dividend of $0.22 per share, reinforcing its commitment to shareholder returns.

Pinnacle Financial Partners, Inc. (PNFP) will release its third quarter 2022 financial results on October 18, 2022, after market close. A live webcast to discuss these results is scheduled for October 19 at 8:30 a.m. CT. The earnings release and webcast details will be available on Pinnacle's investor relations page at PNFP.com. Pinnacle has grown to approximately $40.1 billion in assets as of June 30, 2022, operating in 15 markets mainly in the Southeast.

Pinnacle Financial Partners reported a 15% increase in overall deposits, reaching $32.8 billion as of June 30, 2022. This marks their fifth consecutive year as the top bank in Nashville for deposits, with a significant annual growth of $2 billion or 13.97% in the Nashville-Murfreesboro-Franklin MSA, capturing an 18.03% market share. The firm also achieved notable deposit growth across multiple MSAs, including a remarkable 154.55% in Atlanta. Pinnacle continues to strengthen its position in Tennessee and beyond.