News Releases
Decosta Jenkins to Join Pinnacle Financial Partners Board
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) announced today that Decosta E. Jenkins has been elected to its board of directors effective March 1, 2021. He joins 16 other business and community leaders from across the Southeast who serve as the firm’s directors.
During First Year in Atlanta, Pinnacle Financial Partners Builds Strong Asset Base, Veteran Team of 26
Pinnacle Financial Partners accomplished four significant milestones in its first year in Atlanta: Established and built out its main office at 3333 Riverwood Parkway, with a second location on the horizon; reached $275 million in local loan commitments as of Dec. 31, 2020, including $111 million outstanding, $125 million in unfunded commitments and $39 million of PPP lending in Georgia; gathered $112 million in local deposits; hired 22 new associates, including 14 revenue producers, for a total team of 26.
Pinnacle is Still a Best Place to Work in Virginia
Pinnacle Financial Partners continues to be one of the best places to work in all of Virginia. For the second year in a row, the firm is the top-ranked among banks and credit unions on a list of Best Places to Work from Virginia Business magazine. Pinnacle earned the No. 11 spot in the large companies category.
Two Wealth Advisors and a Former Assistant AG Join Pinnacle
Two experienced wealth advisors and a former assistant state attorney general have joined Pinnacle Financial Partners in the Raleigh-Durham area. Wealth managers Kent Anders and Travis Sissler bring experience and expertise to their roles as financial advisors for Pinnacle’s client advisory group, which serves business and commercial clients. Anders comes from BB&T and is based at Pinnacle’s Durham office, while Sissler comes from Wells Fargo and is based at the Raleigh Glenwood office. In addition, Elizabeth Stone has joined Pinnacle as legal counsel. She was formerly a North Carolina assistant attorney general for the Department of Justice’s transportation division and has also worked in private practice at Williams Mullen, P.C.
PNFP Reports Diluted EPS of $1.42, ROAA of 1.24% and ROTCE of 15.37% for 4Q 2020
Pinnacle Financial Partners, Inc. reported net income per diluted common share of $1.42 for the quarter ended Dec. 31, 2020, compared to net income per diluted common share of $1.26 for the quarter ended Dec. 31, 2019, an increase of 12.7 percent. Excluding gains and losses on the sale of investment securities and ORE expense for the three months ended Dec. 31, 2020 and 2019 and $15.0 million of FHLB restructuring and hedge termination charges for the three months ended Dec. 31, 2020, net income per diluted common share was $1.58 for the three months ended Dec. 31, 2020, compared to $1.27 for the three months ended Dec. 31, 2019, a year-over-year increase of 24.4 percent.
PNFP Announces Dates for Fourth Quarter 2020 Earnings Release and Conference Call
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its fourth quarter 2020 financial results on Tuesday, Jan. 19, 2021, after the stock market closes. It will also host a live webcast on Wednesday, Jan. 20, 2021, at 8:30 a.m. CST to review its financial results, business outlook for the firm and other matters. The fourth quarter 2020 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com.
Pinnacle Continues to Attract Talent in the Triangle
Over the course of the fourth quarter, Pinnacle attracted five experienced financial professionals from Wells Fargo Bank in Raleigh with an average of 24 years’ experience. Jim Foster joined in early October as area manager for the client advisory group, which serves business and commercial clients, followed by three financial advisors, Gary Blum, Maggie Melton and Shane Smith.
Pinnacle Financial Partners is the No. 1 SBA Lender in Tennessee
Pinnacle Financial Partners is the No. 1 SBA lender in Tennessee for 2020, having issued $29.67 million in SBA loans during the 12 months ended Sept. 30, 2020. According to data released by the Small Business Administration, Pinnacle made 30 SBA loans in the state with an average amount of $989,007 during that period, exclusive of Paycheck Protection Program loans.
Pinnacle Financial Partners is the No. 2 SBA Lender in North Carolina
Pinnacle Financial Partners is the No. 2 SBA lender in North Carolina for 2020, having issued $38.35 million in SBA loans during the 12 months ended Sept. 30, 2020. According to data released by the Small Business Administration, Pinnacle made 42 SBA loans in the state with an average amount of $913,060 during that period, exclusive of Paycheck Protection Program loans.
Experienced Team of Wealth Advisors Joins Pinnacle in the Triad
A team of experienced wealth advisors formerly with Wells Fargo has joined Pinnacle Asset Management in the Triad, serving businesses and individuals with significant investment needs. Tracy Cottingham, Jeff Chesson and Steve Brackman all started today as senior vice presidents with Pinnacle and private wealth managers with Raymond James Financial Services, as did registered sales assistant Angela Dodson.
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