Pinnacle Financial Partners In - PNFP STOCK NEWS

Pinnacle Financial Partners (PNFP) will release its first quarter 2021 financial results on April 19, 2021, after market close. A live webcast to discuss these results and the firm's business outlook will follow on April 20, 2021, at 8:30 a.m. CDT. The earnings release will be accessible on Pinnacle’s investor relations website. Pinnacle is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA and has appeared on the 100 Best Companies to Work For list for four consecutive years. As of December 31, 2020, Pinnacle's assets totaled approximately $34.9 billion.

Pinnacle Financial Partners has been named one of the 100 Best Companies to Work For by FORTUNE for the fifth consecutive year, achieving No. 26 on the list. The award highlighted the company's dedication to employee welfare during the pandemic, with over 96% of employees praising the firm's culture and support. Pinnacle processed 14,000 Paycheck Protection Program loans worth $2.4 billion to assist clients during the crisis. The company continues to gain recognition for its workplace culture and community impact.

Pinnacle Financial Partners released its 2020 Annual Report, highlighting the firm's efforts to navigate the challenges of the pandemic while prioritizing client and community support. The report reflects on their people-first philosophy and details their successful initiatives during economic turmoil, including $914.3 million in investments for low- to moderate-income housing and small businesses. Pinnacle maintained its status as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, while also receiving recognition as one of the 100 Best Companies to Work For in the U.S.

Pinnacle Financial Partners (PNFP) announced the election of Decosta E. Jenkins to its board of directors, effective March 1, 2021. Jenkins, a prominent figure in Nashville's business community, is currently the president and CEO of Nashville Electric Service, which reported $1.4 billion in revenues in 2019. He has extensive experience in finance, having previously served as CFO at NES and worked at Deloitte. Jenkins holds a degree in accounting from the University of Tennessee and participates actively in various civic and energy-related organizations.

Pinnacle Financial Partners has made significant strides in its first year in Atlanta, achieving $275 million in local loan commitments and $112 million in deposits as of December 31, 2020. Despite pandemic challenges, the bank expanded to a main office at 3333 Riverwood Parkway and plans to open a second location. The firm has hired 22 new associates, enhancing its service capabilities. In 2020, Pinnacle also delivered $2.4 billion through the SBA's Paycheck Protection Program, reflecting its commitment to supporting local businesses.

Pinnacle Financial Partners (PNFP) reported a net income per diluted share of $1.42 for Q4 2020, up 12.7% year-over-year, and $4.03 for the full year, down 22.8% from 2019. Adjusted figures for Q4 showed $1.58, a 24.4% increase. Total loans reached $22.4 billion, a 13.3% annual growth. Record deposits stood at $27.7 billion, a 37.3% increase. The board declared a quarterly dividend of $0.18 and authorized a $125 million share repurchase program. The effective tax rate was 17.2%. Despite challenges, the firm is optimistic for continued growth in 2021.

Pinnacle Financial Partners (Nasdaq: PNFP) will announce its fourth quarter 2020 financial results on January 19, 2021, after the market closes. A live webcast will follow on January 20, 2021, at 8:30 a.m. CST, discussing these results and the business outlook. Pinnacle ranks as the top bank in the Nashville-Murfreesboro-Franklin MSA, with approximately $33.8 billion in assets as of September 30, 2020. The firm is noted for its workplace culture, making the 2020 list of Best Companies to Work For and recognized by American Banker for its employee satisfaction.