PNFP Names Charissa Sumerlin Chief Credit Officer

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Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has appointed Charissa Sumerlin as the new chief credit officer, effective immediately. Sumerlin, who joined Pinnacle in 2018, brings extensive experience in both CRE and C&I credit. She succeeds Harvey White, who served as interim chief credit officer following Tim Huestis' sudden death in late 2023.

Sumerlin's appointment was unanimously approved by the Board of Directors on July 16, 2024. She previously served as deputy chief credit officer and played a key role in the firm's major re-rating project in 2022. Pinnacle, with approximately $49.4 billion in assets as of June 30, 2024, is the second-largest bank holding company headquartered in Tennessee and operates primarily in urban markets across the Southeast.

Positive

• Appointment of experienced chief credit officer with strong understanding of the company's portfolio
• Unanimous board approval for the new chief credit officer
• Continued growth with assets reaching $49.4 billion as of June 30, 2024
• Ranked as the No. 1 and fastest-growing bank in the Nashville-Murfreesboro-Franklin MSA
• Recognized as one of America's Best Banks to Work For 11 years in a row

Negative

• None.

Tenured credit professional will serve on firm’s senior leadership team

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Pinnacle Financial Partners (Nasdaq/NGS: PNFP) has named Charissa Sumerlin the firm’s chief credit officer effective immediately. She succeeds Harvey White, who served as interim chief credit officer following the sudden death of Tim Huestis in late 2023. The Board of Directors unanimously voted to approve Sumerlin’s appointment at its meeting on July 16, 2024.

“Charissa was the clear choice for this role, and we welcome her to Pinnacle’s senior leadership team,” Pinnacle President and CEO M. Terry Turner said. “She has been a critical leader for our credit team as we’ve bolstered our processes to scale for growth. Charissa was also deeply involved in our major re-rating project in the spring of 2022, which gave her a granular understanding of our portfolio. She has the rare combination of experience with both CRE and C&I credit, which gives her a strong understanding of how all our lending and credit teams work. We offer her our sincere congratulations and gratitude for taking this new role.”

Sumerlin joined Pinnacle in 2018 as a commercial real estate credit advisor and then moved into a senior credit officer position for the firm’s Charlotte, NC, and South Carolina markets. From there, she led the design and adoption of dual risk rating for commercial credits in 2021. In June 2022, Sumerlin became Pinnacle’s deputy chief credit officer as part of Huestis’ succession plan. Her responsibilities included monitoring and assessment of portfolio risk and concentrations; continuous improvement for reporting, systems and processes; and more.

“Charissa is set up for success thanks to her strong predecessors, including Harvey White,” Pinnacle Chairman Rob McCabe said. “We’re grateful to Harvey for his service following the sudden and tragic loss of our colleague Tim Huestis. His willingness to step back into his old role ensured we had a steady hand on our credit policy and portfolio during a difficult time in the economy. We thank him for his leadership.”

White has worked in credit for 50 years and at Pinnacle for 15. He was the firm’s chief credit officer from 2009 to 2019, when he moved into the role of regional banking executive in the Knoxville, TN, market. White will continue to work on special projects in the credit arena.

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 and fastest growing bank in the Nashville-Murfreesboro-Franklin MSA, according to 2023 deposit data from the FDIC. Pinnacle is No. 11 on the 2024 list of 100 Best Companies to Work For® in the U.S., its eighth consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 11 years in a row and No. 1 among banks with more than $10 billion in assets in 2023.

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 $49.4 billion in assets as of June 30, 2024. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in several 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/20240717652638/en/

Joe Bass

(615) 743-8219

joe.bass@pnfp.com



Faith Seifuddin

(615) 743-8437

faith.seifuddin@pnfp.com

Source: Pinnacle Financial Partners

FAQ

Who is the new chief credit officer of Pinnacle Financial Partners (PNFP)?

Charissa Sumerlin has been appointed as the new chief credit officer of Pinnacle Financial Partners (PNFP), effective immediately, as announced on July 17, 2024.

When did Pinnacle Financial Partners (PNFP) appoint its new chief credit officer?

Pinnacle Financial Partners (PNFP) appointed Charissa Sumerlin as the new chief credit officer on July 16, 2024, when the Board of Directors unanimously voted to approve her appointment.

What was Charissa Sumerlin's previous role at Pinnacle Financial Partners (PNFP)?

Prior to her appointment as chief credit officer, Charissa Sumerlin served as Pinnacle Financial Partners' (PNFP) deputy chief credit officer since June 2022.

What is the total asset value of Pinnacle Financial Partners (PNFP) as of June 30, 2024?

As of June 30, 2024, Pinnacle Financial Partners (PNFP) reported approximately $49.4 billion in assets.