Pinnacle Financial Partners Invests $5 Million in City First Enterprises (CFE) to Strengthen Economic Development in DC Region

First EQ2 Investment Marks a Milestone for CFE

Pinnacle Financial Partners has made a $5 million investment in City First Enterprises (CFE), a nonprofit Community Development Financial Institution (CDFI), to expand CFE’s financing of mission-driven projects including affordable housing developments, charter schools, small businesses, community facilities, and clean energy initiatives—across the DC region.

The investment, structured as an equity equivalent (EQ2), represents CFE’s first ever use of this financing tool and will significantly enhance the organization’s ability to deliver long-term capital that drives inclusive growth and sustainable development throughout the area. With this $5 million investment, CFE can unlock and reinvest up to $30 million in high-impact initiatives, maximizing the reach of every dollar.

“Pinnacle’s EQ2 investment in CFE is more than a financial transaction, it’s a strong endorsement of our business model and its potential to drive economic growth. It also reflects Pinnacle’s clear commitment to delivering positive impact across Greater DC,” said Oswaldo Acosta, CEO of CFE. “Access to patient capital is vital for CDFIs to keep making catalytic investments in communities that need them most, and we deeply appreciate Pinnacle’s trust in our mission.”

At Pinnacle, we believe strong communities are built on strong partnerships,” said Darlene Brown, Community Engagement Advisor. “Our investment in CFE reflects our deep commitment to driving inclusive growth across the DC region. By supporting CFE’s proven model, we’re helping to expand access to affordable housing, empower local businesses, and foster economic resilience where it’s needed most.”

This partnership demonstrates how collaboration between CDFIs and banks expands economic opportunity, closes wealth gaps, and strengthens community resilience.

About City First Enterprises (CFE)

CFE is a certified CDFI specializing in flexible lending for affordable housing, commercial real estate, small businesses, non-profits, and clean energy projects. With a mission to create equitable financial solutions to support people and communities in achieving their economic aspirations, CFE envisions a future where all people and communities transform their futures through equitable access to capital. Learn more about CFE: https://www.cfenterprises.org/

About Pinnacle

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 firm is No.9 on FORTUNE magazine’s 2025 list of 100 Best Companies to Work For® in the U.S., its ninth consecutive appearance, and was recognized by American Banker as one of America’s Best Banks to Work For 12 years in a row and No. 1 among banks with more than $10 billion in assets in 2024.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $54.8 billion in assets as of June 30, 2025. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast.

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