Pinnacle Secures $650K in Affordable Housing Grants for Two Middle Tennessee Agencies

The Federal Home Loan Bank (FHLB) of Cincinnati, in partnership with Pinnacle Financial Partners, recently awarded two grants totaling $650,000 to build affordable homes in Rutherford County and assist first-time homebuyers with special needs in Davidson County.

“Helping create more affordable housing is the cornerstone of Pinnacle’s community involvement,” said Terry Turner, Pinnacle’s president and CEO. “Many people in Middle Tennessee need the assistance these grants provide to realize their dream of homeownership.”

Since its inception in 2000, Pinnacle, together with the Federal Home Loan Bank of Cincinnati, has partnered with affordable housing organizations to build 232 homes in Middle Tennessee. They also have provided more than $3.7 million in down payment assistance and other funding.

Rutherford County Habitat for Humanity (RCHFH) will receive an Affordable Housing Program grant of $450,000 to build nine three- or four-bedroom homes throughout the county.

“The partnership with Pinnacle and Federal Home Loan Bank of Cincinnati will change the lives of nine families by helping break the cycle of poverty and providing a better future for their children,” said Beth Smith, executive director of Rutherford County Habitat for Humanity.

The other grant provides $200,000 to Woodbine Community Organization in Nashville to help six individuals with mental disabilities living on Supplemental Security Income. These American Dream Homeownership Challenge funds will be used over the next two years for homebuyer counseling and down payment assistance.

“Because of this grant, six of our clients will gain the independence and fulfillment that comes from owning their own homes,” said Rod Williams, Woodbine’s director of housing services.

About Pinnacle

Pinnacle Financial Partners provides a full range of banking, investment, mortgage and insurance products and services designed for small- to mid-sized businesses and their owners, real estate professionals and individuals interested in a comprehensive relationship with their financial institution. Comprehensive wealth management services, such as financial planning and trust, help clients increase, protect and distribute their assets. The firm also has a well-established expertise in commercial real estate.

The firm began operations in a single downtown Nashville location in October 2000 and has since grown to $4.8 billion in assets. In 2007, Pinnacle launched an expansion into Knoxville, another high growth MSA. The addition of Mid-America has made Pinnacle the second-largest bank holding company headquartered in Tennessee, with 31 offices in eight Middle Tennessee counties and two in Knoxville. Additional information concerning Pinnacle can be accessed at www.pnfp.com.

About Rutherford County Habitat for Humanity

Rutherford County Habitat for Humanity, an affiliate of Habitat for Humanity International, is a nondenominational Christian housing ministry founded in 1989 to help eliminate substandard housing in Rutherford County. RCHFH works in partnership with people in need to build simple decent homes sold at no profit and no interest. In addition to supporting the program through mortgage payments, Habitat families are required to invest an average of 400 "sweat equity" hours by helping with construction to serve as a portion of their down payment. They are also required to complete a 26-week financial education program to prepare them for homeownership responsibilities. Rutherford County Habitat for Humanity has built more than 85 homes throughout the county. To request an application or to receive more information about RCHFH, call 615-890-5877.

About Woodbine Community Organization

The Woodbine Community Organization (WCO) is a nonprofit organization that was chartered in 1985. WCO is a HUD-certified counseling agency for pre- and post-homebuying and also for foreclosure and loss mitigation. Not only does WCO help many people purchase new homes, but it also provides information concerning affordable housing for families and seniors, rehab grants and how to better manage finances. For more information, call 615-833-9580 or visit www.woodbinecommunity.org.

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Certain of the statements in this release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking. All forward-looking statements are subject to risks, uncertainties and other facts that may cause the actual results, performance or achievements of Pinnacle to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, without limitation, (i) unanticipated deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses, (ii) the inability of Pinnacle to continue to grow its loan portfolio at historic rates, (iii) increased competition with other financial institutions, (iv) lack of sustained growth in the economy in the Nashville-Davidson-Murfreesboro MSA, (v) rapid fluctuations or unanticipated changes in interest rates, (vi) the inability of Pinnacle to satisfy regulatory requirements for its expansion plans, (vii) the inability of Pinnacle to execute its expansion plans and (viii) changes in the legislative and regulatory environment. A more detailed description of these and other risks is contained in Pinnacle's most recent annual report on Form 10-K. Many of such factors are beyond Pinnacle's ability to control or predict, and readers are cautioned not to put undue reliance on such forward-looking statements. Pinnacle disclaims any obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.