Pinnacle Financial Partners Again Ranked Among America’s Best Banks

Rhea-AI Summary

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.

Positive

• Ranked 27th among the 100 largest banks in the U.S.
• Total assets of $41 billion as of December 31, 2022.
• Return on equity at 17.6%, indicating strong profitability.

Negative

• None.

New list from Forbes magazine puts Pinnacle on top in Tennessee and ahead of major competitors

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Pinnacle ranks among the best of the country’s 100 largest banks, according to a Forbes analysis. The firm landed at No. 27 on the list, higher than any other bank headquartered in Tennessee, North Carolina, South Carolina or Georgia.

“We measure and reward ourselves according to the metrics we believe are most highly correlated with long-term shareholder value, so it’s gratifying to see a third party independently verify that this approach works,” said M. Terry Turner, Pinnacle’s president and CEO. “Our financial strength is a result of how highly we excited and engage our associates, all of us pulling in the same direction and making the right decisions for the overall value of this firm. When you do what’s right and give people a workplace they love, they will elevate your company to success.”

The magazine’s analysts examined raw numbers from financial data provider S&P Global Market Intelligence to shed light on growth, credit quality and profitability for the country’s 100 largest banks and thrifts. They used 10 metrics in the ranking, including net interest margin, return on average assets and revenue growth. According to these measures, Pinnacle bested many of its top competitors throughout its footprint.

Rank		Company	Total assets (bil)	Return on equity %	Non- performing Assets %	Common Equity Tier %	Efficiency ratio %	Operating revenue growth %
27		Pinnacle Financial Partners	$41	17.6	0.1	10.1	49.1	14.9
30		United Community Banks	$24	14.3	0.32	12.1	54.8	15.8
35		South State	$45	16.0	0.18	11.0	58.2	9.3
66		Synovus	$59	18.9	0.39	9.5	53.8	8.0
70		JPMorgan Chase	$3,774	17.4	0.3	12.5	59.6	2.0
78		Renasant	$16	13.6	0.51	10.6	63.2	-9.9
80		Regions	$158	20.3	0.57	9.3	57.6	6.8
86		Bank of America	$3,073	15.2	0.29	11.0	65.0	4.0
87		First Citizens	$109	13.1	0.63	10.4	62.4	126
88		US Bancorp	$601	18.9	0.55	9.7	60.5	3.2
92		First Horizon	$80	15.5	0.51	9.9	62.7	-1.8
93		Truist Financial	$548	21.5	0.5	9.1	61.7	1.5
95		Fifth Third Bank	$205	17.2	0.68	9.1	57.4	2.8
98		PNC Financial Services	$560	16.5	0.61	9.3	65.1	12.6
100		Wells Fargo	$1,878	11.2	0.57	10.3	72.6	0.0

This is the 14th year Forbes has released this list. For the full list and methodology, visit Forbes.com.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2022 deposit data from the FDIC, is listed by Forbes among the top 25 banks in the nation and earned a spot on the 2022 list of 100 Best Companies to Work For® in the U.S., its sixth consecutive appearance. American Banker recognized Pinnacle as one of America’s Best Banks to Work For 10 years in a row and No. 1 among banks with more than $11 billion in assets in 2022.

Pinnacle owns a 49 percent interest in BHG Financial, which provides innovative, hassle-free financial solutions to healthcare practitioners and other professionals. Great Place to Work and FORTUNE have listed BHG as a best workplace in multiple categories since 2016.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $42.0 billion in assets as of December 31, 2022. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets across the Southeast.

Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005734/en/

Joe Bass

(615) 743-8219

joe.bass@pnfp.com



Faith Seifuddin

(615) 743-8437

faith.seifuddin@pnfp.com

Source: Pinnacle Financial Partners

FAQ

What is Pinnacle Financial Partners' ranking in the Forbes list?

Pinnacle Financial Partners is ranked 27th among the 100 largest banks in the U.S. by Forbes.

What was Pinnacle Financial Partners' total asset value?

As of December 31, 2022, Pinnacle Financial Partners had total assets of $41 billion.

What is the return on equity for Pinnacle Financial Partners?

Pinnacle Financial Partners reported a return on equity of 17.6%.

In how many states is Pinnacle Financial Partners operating?

Pinnacle Financial Partners operates in 17 primarily urban markets across the Southeastern U.S.

Who is the president and CEO of Pinnacle Financial Partners?

M. Terry Turner is the president and CEO of Pinnacle Financial Partners.