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Pinnacle Financial Partners, Inc. (PNFP) is a financial holding company headquartered in Nashville, Tennessee. Through its wholly-owned subsidiary, Pinnacle Bank, the company offers a comprehensive array of banking, investment, trust, mortgage, and insurance products and services. These services are tailored to meet the needs of businesses, business owners, and individuals seeking a full-service relationship with their financial institution.
Pinnacle focuses on recruiting top-tier financial professionals to deliver personalized and professional service. The company's commitment to its employees and clients has earned it high rankings, including No. 34 on Fortune’s 2017 list of the 100 Best Companies to Work For, and American Banker's recognition as the sixth best bank to work for in 2016.
Founded in October 2000, Pinnacle began operations in a single location in downtown Nashville. Today, it operates in the four largest markets in Tennessee—Nashville, Memphis, Knoxville, and Chattanooga—along with several surrounding counties. The company's growth strategy includes strategic mergers and acquisitions, which have significantly expanded its footprint and service offerings.
Pinnacle Bank provides a diverse range of lending products, including commercial, real estate, and consumer loans. It primarily serves small to medium-sized businesses and individuals, with a substantial portion of its loan portfolio dedicated to commercial and industrial real estate loans. The bank generates most of its revenue through net interest income, underscoring its focus on traditional banking activities.
Furthermore, Pinnacle offers securities through Raymond James Financial Services, Inc., ensuring a robust selection of investment options for its clients. Pinnacle Asset Management and Pinnacle Bank operate independently of Raymond James Financial Services, Inc., offering a broad spectrum of financial solutions.
For more information about Pinnacle Financial Partners, visit their official website at www.pnfp.com.
Pinnacle Financial Partners has released its 2021 Annual Report, showcasing its growth and readiness for evolving employee-employer dynamics. The report highlights record-high financial metrics driven by significant investments in associates and culture. President and CEO Terry Turner emphasizes the importance of a satisfied workforce in attracting clients amidst increasing competition. Pinnacle stands out as the No. 1 bank in the Nashville metropolitan area, with approximately $38.5 billion in assets as of December 31, 2021.
Pinnacle Financial Partners (PNFP) reported a robust financial performance for Q4 and the full year ending Dec. 31, 2021. Net income per diluted share rose to $1.71 for Q4 2021, a 20.4% increase year-over-year, and $6.75 for the year, marking a 67.5% rise. Excluding PPP impacts, loan growth reached 11.7%. Total assets increased by 10.1% to $38.5 billion. The company announced a quarterly dividend of $0.22 per share and a new $125 million share repurchase program. Despite challenges, management remains optimistic about continued growth and profitability in 2022.
Pinnacle Financial Partners (PNFP) will release its Q4 2021 financial results on January 18, 2022, post market close. A live webcast to discuss these results and future outlook will be held on January 19, 2022, at 8:30 a.m. CST. The earnings report will be available on the company's investor relations page. As of September 30, 2021, Pinnacle has approximately $36.5 billion in assets and operates across 14 urban markets in the Southeast, holding a leading position in the Nashville area.
Pinnacle Financial Partners has expanded into the Washington, D.C. metro area by hiring six seasoned financial professionals, led by Carolyne Pelton as regional president. The team includes experts from the Aerospace, Defense, and Government Contracting sectors, enhancing Pinnacle's capabilities in a robust market. The company anticipates an investment impact of $0.02 to $0.03 per diluted share in 2022 and forecasts incremental loan growth of $250-350 million. Pinnacle aims to establish deep roots in this vibrant market, supported by its award-winning culture.
Pinnacle Financial Partners reported a net income per diluted common share of $1.75 for Q3 2021, a 23.2% increase from $1.42 in Q3 2020. For the first nine months, net income rose nearly 93% to $5.05. Excluding PPP effects, loan growth was 15.3% annualized, with total loans reaching $23.1 billion. Deposits grew 10.6% annually to $29.4 billion. Revenues were $341.6 million, up 14.8% year-over-year. The board declared a quarterly dividend of $0.18 per common share to be paid on Nov. 26, 2021.
Pinnacle Financial Partners (PNFP) is set to release its Q3 2021 financial results on October 12, 2021, after market close. A live webcast detailing these results and the company's business outlook will take place on October 13, 2021, at 8:30 a.m. CDT. Pinnacle, recognized as the top bank in the Nashville-Murfreesboro-Franklin MSA based on 2021 FDIC deposit data, has approximately $35.4 billion in assets as of June 30, 2021. The company continues to earn accolades, being listed among the 100 Best Companies to Work For in 2021.
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