Avenue Bank Takes Pinnacle Name

Final integration of systems and identity change complete

Avenue Financial Holdings, Inc. (“Avenue”) was merged with Pinnacle Financial Partners, Inc. (“Pinnacle”) on July 1, 2016, giving the firm combined assets of more than $10.5 billion. In connection with the merger, Avenue Bank, Avenue’s wholly owned bank subsidiary, merged with and into Pinnacle Bank, Pinnacle’s wholly owned bank subsidiary. Avenue had continued to operate under its brand until the systems and operations of the companies were totally integrated with Pinnacle.

Clients from both firms will enjoy more benefits as a result of the integration, including the convenience of accessing an additional Nashville office at Cummins Station, as well as Pinnacle’s other locations in 14 counties across the state.

“Together, Pinnacle and Avenue are truly Nashville’s bank,” said M. Terry Turner, president and CEO of Pinnacle Financial Partners. “I’m excited about the growth opportunities we have moving forward as one team, such as building out a national franchise focused on the music industry.”

Community and business leaders, clients and friends joined Avenue and Pinnacle associates at a sign unveiling celebration at the combined firm’s Green Hills office on Cleghorn Avenue.

“Pinnacle and Avenue have both been recognized as great places to work, and joining forces will make us even better,” said Ronald L. Samuels, Avenue’s former chairman and chief executive officer who now serves as Pinnacle’s vice chairman. “We have found that high levels of associate engagement lead to excellent client service and high stock performance.”

Pinnacle and Avenue announced the intent to merge on Jan. 28, 2016. The transaction closed just five months later on July 1, 2016. Since then Pinnacle has communicated extensively with clients to explain the changes they will see in accounts, materials and the website,www.pnfp.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 American Banker recognized Pinnacle as the sixth best bank to work for in the country in 2016.

The firm began operations in a single downtown Nashville location in October 2000 and has since grown to approximately $9.7 billion in assets at June 30, 2016. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in the state’s four largest markets, Nashville, Memphis, Knoxville and Chattanooga, as well as several surrounding counties.

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

 

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