All Pinnacle offices will be closed Monday, May 26, in observance of Memorial Day. You can see all bank holidays at PNFP.com/Holidays. Enjoy the weekend!
All Pinnacle offices will be closed Monday, May 26, in observance of Memorial Day. You can see all bank holidays at PNFP.com/Holidays. Enjoy the weekend!
Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its third quarter 2024 financial results on Tuesday, Oct. 15, 2024, after market close. It will also host a live webcast on Wednesday, Oct. 16, at 8:30 a.m. CDT to review its financial results, business outlook for the firm and other matters. The third quarter 2024 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com.
Pinnacle Financial Partners has added three financial services veterans to its Roanoke team. Financial Advisor Nathan Walker and Financial Advisor Assistants Christy Bennett and Jenna Nelson will expand Pinnacle’s ability to deliver distinctive service and effective advice to even more in this community.
Pinnacle Financial Partners grew local deposits in the Knoxville MSA by $319.9 million in the 12 months ended June 30, 2024, for a total of $2.9 billion. That’s an annual growth rate of 12.62 percent to reach 11.39 percent of local market share. The firm is the No. 4 largest bank in the MSA, according to FDIC data.
Pinnacle is now the second largest bank in the Chattanooga MSA by deposits, having grown deposits by $258.9 million in the 12 months ended June 30, 2024, for a total of $2.2 billion—the firm’s first time over the $2 billion mark locally. That’s an annual growth rate of 13.36 percent to reach 14.58 percent of local market share, according to FDIC data. No other bank in the market added more deposit dollars than Pinnacle in the period.
Pinnacle more than doubled its local deposits in the Bowling Green MSA in the 12 months ended June 30, 2024, for a total of $146.2 million and 3.2 percent of market share. That’s an annual growth rate of 101.9 percent, propelling the firm to be the fastest growing bank in both Bowling Green and all of Kentucky by year over year percentage growth in deposits, as well as the 12th largest bank in the MSA, according to FDIC data. That’s up from No. 15 in 2023, illustrating Pinnacle’s rapid rise as a go-to banking institution in South Central Kentucky.
Pinnacle Financial Partners grew local deposits in the Atlanta MSA by $212.3 million in the 12 months ended June 30, 2024, for a total of $746.6 million. That’s an annual growth rate of 39.7 percent to reach 0.2 percent of local market share. The firm is tied for the No. 25 largest bank in the Atlanta MSA, according to FDIC deposit data. That’s up from No. 30 in 2023.
In the combined MSAs that make up Pinnacle’s Upstate South Carolina region, the firm grew local deposits by $75.7 million in the 12 months ended June 30, 2024, for a total of $519.5 million. That’s an annual growth rate of 17.1 percent, according to FDIC data. In the Greenville-Anderson-Greer MSA, Pinnacle grew to be the No. 11 largest bank in the market by deposits, up from No. 14 on June 30, 2023, thanks to $36.4 million in local deposit growth to $402.4 million. In Spartanburg, the firm is No. 13 with $117.1 million, which represents $9.4 million in growth year-over-year.
Pinnacle Financial Partners, a Tennessee bank, is now a top 25 bank in the Washington D.C. MSA, rising to be the No. 24 largest bank by deposits as of June 30, 2024. That comes less than three years after the firm entered the market in late 2021. Pinnacle added $357.4 million in deposits in the 12 months ended June 30, 2024 for a total of $995.1 million and a growth rate of 56.1 percent—the second highest in the MSA. That’s more deposit dollar growth than any other Pinnacle market for this period.
Pinnacle Financial Partners, a bank based in Nashville, TN, continues its rapid growth in northern Alabama. The firm grew local deposits in the Huntsville MSA by $46.6 million in the 12 months ended June 30, 2024, for a total of $347.8 million. That’s an annual growth rate of 15.5 percent to reach 3.1 percent of local market share. That places the firm at No. 11 on the list of biggest banks by deposit market share, up from No. 12 in 2023, according to FDIC data.
In the combined MSAs that make up Pinnacle’s NC Central region, the firm grew local deposits by $57.8 million in the 12 months ended June 30, 2024, for a total of $3.1 billion. In Winston-Salem, Pinnacle is the No. 6 largest bank by deposits, up from No. 7 in 2023, according to FDIC data. That comes from $122.7 million in growth for a total of $1 billion, a 13.7 annual percent growth rate for 7.0 percent of market share. In Greensboro-High Point, the firm also rose in the rankings to become the third largest bank in the MSA by deposits, by growing to 12.1 percent market share and a total of $2 billion.
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