Protecting Your Business From Employee Fraud
By Vickie Manning, Area Executive for Franklin and Cool Springs, Pinnacle Financial Partners
Until recently, I had never in my more than 20 years of financial services experience seen a client hit by employee theft. In the past year, I have seen two clients become victims of employee fraud.
Like many business owners, these companies dismissed employee fraud as something that plagues other organizations. They had an "it won't happen to me" mentality. The truth is employee fraud is surprisingly common and can devastate your business.
Click here for more.
You can reach Vickie at (615) 744-3793 or by e-mail at vickie.manning@pnfp.com.
Fed Chief Anticipates Slower Growth Ahead
Federal Reserve Chairman Ben S. Bernanke's semiannual testimony to the House Financial Services Committee painted a cautious portrait of the economy.
He expects the economy to expand at a moderate pace over the second half of 2007, with growth then strengthening slightly in 2008 to a rate close to the economy's underlying trend.
He warned that the slump in the housing market may last longer than anticipated, and that a resurgence in consumer spending could rekindle inflation.
Click here for Pinnacle Advisory Services’ outlook on the economy and its portfolio strategy.
What are latest e-mail scams to steer clear of?
New spamming attempts are emerging daily. Earlier this month, the FBI released a warning about three dangerous e-mail scams that are inundating inboxes.
The first scheme is linked to e-cards and online postcards being sent through spam software. Senders of these cards claim to be a family member or friend, so that you will trust the contents. Recipients are directed to click on a link to view the fake e-card. Clicking on the link within the e-mail takes recipients to a malicious website that could contain viruses.
A second hoax uses e-mails that appear to be from the FBI to push lottery endorsements and inheritance notices.
The third scam involves an e-mail that appears to be from U.S. military officials on behalf of soldiers stationed overseas. The perpetrators typically request personal information or money.
Each of these e-mail messages may endanger the security of your identity or your computer and should be deleted immediately.
If you think you've received one of these e-mails, the government would like to hear about it. You can file a complaint at the " Internet Crime Complaint Center."
Pinnacle reported strong performance and total assets of $2.314 billion, up $329 million or 16.6 percent from the $1.986 billion reported at the same time last year.
2Q07 Earnings Highlights:
- Net income for the second quarter of 2007 of $5.43 million, up 25.5 percent from the prior year's second quarter net income of $4.32 million
- Diluted earnings per share for the second quarter were $0.33, up 26.9 percent from the same quarter last year
- Revenue for the quarter amounted to $23.21 million, compared to $21.28 million for the same quarter of last year, an increase of 9.1 percent
The following chart demonstrates the continued growth in Pinnacle's assets.
The chart below shows Pinnacle's stock-price performance versus the largest regional and national institutions in the Middle Tennessee market.
Click here for more on Pinnacle's second quarter performance, and click here for the NASDAQ/NGS listing: PNFP.
Pinnacle Breaks Ground on New Office Complex
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Reps of Pinnacle, Bass Berry, developer Barry and Mayor Bill Purcell (center) turn the first dirt at the groundbreaking ceremony for The Pinnacle at Symphony Place. |
Pinnacle Financial Partners helped break ground this month for a 28-story building in downtown Nashville named "The Pinnacle at Symphony Place."
Pinnacle will occupy approximately 5,000 square feet on the ground level for a full service financial center and an additional 60,000 square feet on three floors. Bass, Berry & Sims, a prominent Nashville law firm, will join Pinnacle as a major tenant when the building opens in 2010.
The Pinnacle at Symphony Place will be on 3rd Avenue across from the Schermerhorn Symphony Center. The complex will reshape the Nashville skyline and will be the first new construction downtown that meets energy efficient design standards.
Pinnacle welcomes three new associates:
Teresa Clanton, 20 years experience, compliance analyst - Murfreesboro Financial Center
Tara Metcalf, 10 years experience, service specialist - Memorial Office, Murfreesboro
Terry Vaughn, 15 years experience, mortgage advisor assistant - Nashville
Ordinary and Extraordinary Estate Planning
Effective Strategies for Small, Medium and Large Estates
Teleconference featuring nationally renowned estate planner Roy M. Adams and his guest, estate planning attorney and CPA, Ann Burns. The program is approved for professional education credits* for attorneys, CPAs, CFPs and CTFAs.
Pinnacle Downtown Nashville
Tuesday, August 14, 12:00 - 1:30 p.m. (teleconference and box lunch)
Seating is limited. RSVP or questions: Summer Yeiser at 620-1207 or via e-mail at summer.yeiser@pnfp.com
*1.5 credits for attorneys, CPAs, CFPs, and 2 credits for CTFAs
Investment Policy Guidelines for the Non-Profit Board
with Scott McPherson*, CTFA, Investment Consultant for Pinnacle Asset Management and Raymond James Financial Services, Inc.
Pinnacle Cool Springs
Tuesday, August 28, 11:30 a.m. - 12:30 p.m. (workshop and box lunch)
RSVP or questions: Summer Yeiser at 620-1207 or via e-mail at summer.yeiser@pnfp.com
* Securities and investment advisory services offered through Raymond James Financial Services Inc. Member NASD/SIPC - Not FDIC Insured - Not guaranteed by Pinnacle National Bank - Subject to risk and may lose value
