Welcome to our dedicated page for Pinnacle Finl Partners news (Ticker: PNFP), a resource for investors and traders seeking the latest updates and insights on Pinnacle Finl Partners stock.
Pinnacle Financial Partners, Inc. (NYSE: PNFP) generates frequent news as a regional bank holding company serving commercial and consumer clients across the Southeast and Atlantic Coast. This PNFP news page aggregates company announcements, investor communications and other coverage related to Pinnacle’s banking, investment, trust, mortgage and insurance activities.
Readers can expect updates tied to Pinnacle’s strategic direction and corporate actions, including its completed merger with Synovus Financial Corp., the integration of Synovus Bank into Pinnacle Bank, and the firm’s presence on the New York Stock Exchange. Company press releases have highlighted milestones such as ringing the opening bell at the NYSE, regulatory approvals for the merger, and shareholder votes in favor of the combination.
News items also include financial communications, such as earnings release dates, dividend declarations on common and preferred stock, and participation in financial services conferences hosted by major investment banks. In addition, Pinnacle regularly issues updates on governance and leadership, including the composition of its board of directors and the appointment of banking leaders for local markets and banking specialties.
Because Pinnacle operates more than 400 offices in nine states and emphasizes a geographic, relationship-based banking model, its news flow often reflects developments in its core metropolitan markets and its efforts to recruit financial services professionals. Investors, analysts and clients can use this PNFP news feed to follow the firm’s corporate events, market positioning in areas such as Nashville and Atlanta, and ongoing integration activities following the Synovus merger.
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.
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Pinnacle Financial Partners reported a 15% increase in overall deposits, reaching
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Pinnacle Financial Partners reported a net income per diluted common share of $1.86 for Q2 2022, up from $1.69 in Q2 2021, marking a 10.1% increase. Excluding PPP paydowns, annualized loan growth reached 31.9%. Total assets rose to $40.1 billion, reflecting a 13.3% year-over-year increase. Despite facing economic uncertainty, loan growth and client retention fueled performance, with net interest income increasing by 13.4% year-over-year. However, PPP-related income fell significantly, contributing $4.1 million in Q2 2022 versus $24.6 million in Q2 2021.
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Pinnacle Financial Partners announces changes to its overdraft services program effective
- Elimination of the Non-Sufficient Funds (NSF) fee for consumer accounts.
- Reduction of NSF fees from
$38 to$30 for business accounts. - Overdraft fees cut from
$38 to$30 for both consumer and business accounts. - Introduction of a $15 overdraft cushion for consumers.
- Limiting overdraft charges from five to three per day for consumers.
These changes may lead to an estimated revenue loss of
Pinnacle Financial Partners (PNFP) will release its second quarter 2022 financial results on July 19, 2022, after market close. A live webcast is scheduled for July 20 at 8:30 a.m. CT to discuss these results and the company's business outlook. The webcast and earnings release details will be available on the company's investor relations page. Pinnacle is recognized as the top bank in the Nashville area and is noted for its workplace culture, appearing on lists such as Forbes 100 Best Companies to Work For.
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