Pinnacle is the No. 1 Bank in the Nashville MSA by Deposits for the Seventh Consecutive Year, Holds No. 2 in Tennessee, Grows Deposits in 21 of 27 MSAs
Pinnacle Financial Partners (PNFP) maintains its position as the largest bank in the Nashville MSA by deposits for the seventh consecutive year, holding $19.7 billion in local deposits, representing 21.2% of the total market. The firm is now the second-largest bank in Tennessee, with $27.7 billion in deposits and 12.4% market share. Pinnacle grew deposits in 21 out of 27 MSAs, including 12 with double-digit growth and one with triple-digit growth. Notable achievements include:
- Ranking 24th in the Washington, D.C. area with 56.1% growth
- Becoming a top 25 bank in Atlanta
- Claiming the second spot in Chattanooga with $2.2 billion in deposits
- Reaching No. 1 in Cleveland, TN
- Growing to $2.9 billion in deposits in Knoxville
- Holding $6.5 billion in deposits across North Carolina
Pinnacle Financial Partners (PNFP) mantiene la sua posizione come la banca più grande nell'area metropolitana di Nashville per depositi per il settimo anno consecutivo, con 19,7 miliardi di dollari in depositi locali, rappresentando 21,2% del mercato totale. L'azienda è ora la seconda banca più grande nel Tennessee, con 27,7 miliardi di dollari in depositi e 12,4% di quota di mercato. Pinnacle ha visto crescere i depositi in 21 su 27 aree metropolitane, inclusi 12 con crescita a doppia cifra e uno con crescita a tripla cifra. Tra i risultati notevoli ci sono:
- Posizionamento al 24° posto nell'area di Washington, D.C. con 56,1% di crescita
- Diventare una delle prime 25 banche ad Atlanta
- Raggiungere il secondo posto a Chattanooga con 2,2 miliardi di dollari in depositi
- Raggiungere il numero 1 a Cleveland, TN
- Crescita a 2,9 miliardi di dollari in depositi a Knoxville
- Mantenere 6,5 miliardi di dollari in depositi nel North Carolina
Pinnacle Financial Partners (PNFP) mantiene su posición como el banco más grande en el área metropolitana de Nashville por depósitos durante siete años consecutivos, con 19.7 mil millones de dólares en depósitos locales, lo que representa 21.2% del mercado total. La firma es ahora el segundo banco más grande en Tennessee, con 27.7 mil millones de dólares en depósitos y 12.4% de participación en el mercado. Pinnacle creció los depósitos en 21 de 27 áreas metropolitanas, incluyendo 12 con crecimiento de dos dígitos y una con crecimiento de tres dígitos. Entre los logros notables se incluyen:
- Clasificarse 24º en el área de Washington, D.C. con 56.1% de crecimiento
- Convertirse en un banco de las 25 principales en Atlanta
- Reclamar el segundo lugar en Chattanooga con 2.2 mil millones de dólares en depósitos
- Alcanzar el número 1 en Cleveland, TN
- Crecer a 2.9 mil millones de dólares en depósitos en Knoxville
- Mantener 6.5 mil millones de dólares en depósitos en Carolina del Norte
Pinnacle Financial Partners (PNFP)는 내쉬빌 MSA에서 7년 연속으로 가장 큰 은행으로 자리매김하고 있으며, 197억 달러의 지역 예금을 보유하고 있으며, 이는 총 시장의 21.2%에 해당합니다. 이 회사는 이제 테네시 주에서 두 번째로 큰 은행이 되었으며, 277억 달러의 예금과 12.4%의 시장 점유율을 기록하고 있습니다. Pinnacle은 27개 MSA 중 21개에서 예금을 증가시켰으며, 그 중 12개는 두 자릿수 성장, 1개는 세 자릿수 성장률을 기록했습니다. 주목할만한 성과는 다음과 같습니다:
- 워싱턴 D.C. 지역에서 56.1% 성장으로 24위
- 애틀란타에서 상위 25개 은행 중 하나로 입성
- 채터누가에서 22억 달러의 예금으로 두 번째 자리 차지
- 클리블랜드, TN에서 1위 도달
- 녹스빌에서 29억 달러의 예금으로 성장
- 노스캐롤라이나 전역에서 65억 달러의 예금 보유
Pinnacle Financial Partners (PNFP) maintient sa position en tant que plus grande banque de la MSA de Nashville en termes de dépôts pour la septième année consécutive, avec 19,7 milliards de dollars de dépôts locaux, représentant 21,2% du marché total. L'entreprise est maintenant la deuxième plus grande banque du Tennessee, avec 27,7 milliards de dollars de dépôts et 12,4% de part de marché. Pinnacle a augmenté ses dépôts dans 21 des 27 MSA, dont 12 avec une croissance à deux chiffres et un avec une croissance à trois chiffres. Parmi les réalisations notables, on note :
- Classement 24ème dans la région de Washington, D.C. avec 56,1% de croissance
- Devenir une banque parmi les 25 meilleures à Atlanta
- Obtenir la deuxième place à Chattanooga avec 2,2 milliards de dollars de dépôts
- Atteindre la première place à Cleveland, TN
- Croître à 2,9 milliards de dollars de dépôts à Knoxville
- Détenir 6,5 milliards de dollars de dépôts en Caroline du Nord
Pinnacle Financial Partners (PNFP) behauptet sich zum siebten Jahr in Folge als größte Bank im Umland von Nashville hinsichtlich der Einlagen, mit 19,7 Milliarden Dollar an lokalen Einlagen, was 21,2% des Gesamtmarktes entspricht. Das Unternehmen ist nun die
- Platz 24 im Raum Washington, D.C. mit 56,1% Wachstum
- Eine der top 25 Banken in Atlanta geworden
- Den zweiten Platz in Chattanooga mit 2,2 Milliarden Dollar an Einlagen eingenommen
- Platz 1 in Cleveland, TN erreicht
- Auf 2,9 Milliarden Dollar an Einlagen in Knoxville gewachsen
- 6,5 Milliarden Dollar an Einlagen in North Carolina gehalten
- Maintained No. 1 position in Nashville MSA for 7 consecutive years with $19.7 billion in deposits
- Grew to No. 2 bank in Tennessee with $27.7 billion in deposits and 12.4% market share
- Increased deposits in 21 out of 27 MSAs, with 12 showing double-digit growth
- Achieved 56.1% deposit growth in Washington, D.C. area
- Reached top 25 bank status in Atlanta, the sixth-largest MSA in the country
- Became No. 2 bank in Chattanooga with $2.2 billion in deposits
- Attained No. 1 position in Cleveland, TN
- Grew to $2.9 billion in deposits in Knoxville, capturing largest share of market growth
- Expanded to $6.5 billion in deposits across North Carolina
- None.
Insights
Pinnacle Financial Partners' dominant position in the Nashville market and strong growth across multiple regions signal robust financial health. The bank's 21.2% market share in Nashville, with
The bank's ability to grow deposits in 21 out of 27 MSAs, including 12 with double-digit growth, indicates effective expansion strategies and customer acquisition. This is especially noteworthy given the current competitive landscape for deposits. The
Pinnacle's success in high-growth markets like Washington D.C., Atlanta and Charlotte suggests a well-executed geographic expansion strategy. The bank's ability to climb rankings rapidly in new markets, such as reaching No. 24 in Washington D.C. in less than three years, is a positive indicator for future growth potential.
Pinnacle's market positioning strategy appears highly effective, particularly in competitive, high-value markets. The bank's success in growing deposits and market share, even as larger competitors lose ground, indicates a strong value proposition resonating with customers. This is evident in markets like Atlanta, where Pinnacle grew by
The bank's focus on customer experience, as evidenced by its top net promoter score among the largest 50 banks, is likely a key driver of its deposit growth. This customer-centric approach, combined with specialized deposit services like escrow funds and captive insurance, appears to be a winning formula in attracting and retaining clients.
Pinnacle's consistent growth across diverse markets suggests a scalable business model that can be effectively replicated in new regions. This bodes well for the bank's long-term growth prospects and its ability to continue gaining market share in the competitive banking landscape.
Competitive landscape, high-value markets lead to significant growth in FDIC deposit data
Pinnacle is the No. 1 bank in
“We founded Pinnacle to be Nashville’s hometown bank,” Pinnacle’s President and CEO Terry Turner said. “We’ve grown parallel to and in partnership with our headquarters city for 24 years and are replicating that success in other high-growth Southeastern markets. The support from our communities, along with a competitive landscape that’s ripe for attracting clients from other regional banks, continues to allow us to grow rapidly and consistently over time.”
Pinnacle moved within striking distance of taking over the No. 1 spot in
Firmwide, Pinnacle grew deposits in 21 out of 27 MSAs measured by the FDIC, including 12 with double-digit growth and one with triple-digit growth. The firm grew share in 20 of those markets, taking a greater percentage of overall local deposit pools, at a time when competition for bank deposits has been incredibly fierce.
“Our associates have accomplished this with their tireless work to serve clients with a distinctive experience,” Turner said. “Every day our people demonstrate that Pinnacle provides a lot more than just an interest rate. JD Power has indicated that our net promoter score is literally the best of the largest 50 banks in the nation, with one of the highest rated digital banking experiences. Our people are experienced and empowered to meet their clients’ needs. And we’ve grown our capabilities into several specialized areas of deposits like escrow funds, public utilities and captive insurance. All of that together helped us significantly grow deposits in a difficult operating environment.”
Highlights from other markets in the most recent FDIC report include*:
Pinnacle’s largest year-over-year deposit growth came in the
Pinnacle is now a top 25 bank by deposits in the sixth biggest MSA in the country. The firm is tied for the No. 25 spot in the Atlanta MSA, up from No. 30 in 2023, adding
Pinnacle is now the second-largest bank in the Chattanooga MSA by deposits at June 30, 2024, up from No. 3 at the same period in 2023, and has crossed the
Pinnacle’s growth in the Knoxville MSA has been consistently strong, including
Pinnacle grew deposits by
In the combined MSAs that make up Pinnacle’s
Statewide, Pinnacle holds
Upstate, SC
In the combined MSAs that make up Pinnacle’s Upstate South Carolina region, the firm holds
*All according to FDIC data as of and for the 12 months ended June 30, 2024
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
Pinnacle Bank owns a 49-percent interest in Bankers Healthcare Group (BHG), which provides innovative, hassle-free financial solutions to healthcare practitioners and other professionals. Great Place to Work and FORTUNE ranked BHG No. 4 on its 2021 list of Best Workplaces in
The firm began operations in a single location in downtown
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/20240924302245/en/
Joe Bass
(615) 743-8219
joe.bass@pnfp.com
Faith Seifuddin
(615) 743-8437
faith.seifuddin@pnfp.com
Source: Pinnacle Financial Partners
FAQ
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