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MEDIA CONTACT:Sue Atkinson, 615-320-7532

Pinnacle Moves Up to No. 6 Spot in Knoxville, Retains No. 4 Market Share in Nashville

October 04, 2011

Pinnacle Financial Partners Inc. (Nasdaq/NGS: PNFP) is the sixth-largest out of 44 financial institutions in the Knoxville metropolitan statistical area (MSA), according to the Federal Deposit Insurance Corporation (FDIC).

The FDIC’s summary of deposits for June 30, 2010, through June 30, 2011, shows that Pinnacle remains the fourth-largest out of 60 financial institutions in Nashville-Davidson-Murfreesboro MSA with a market share of 9.0 percent.

“Being in the top six in both of our markets shows that clients are eager for the personalized service and expertise that Pinnacle’s associates offer,” said M. Terry Turner, Pinnacle president and CEO. “We expect that dissatisfaction with regional banks’ new debit card fees will help us take additional market share from competitors in the coming year.”

In the Knoxville MSA, Pinnacle grew its deposits by approximately $64.3 million over the prior year, giving the firm 2.75 percent market share, up from 2.47 percent in 2010. Pinnacle moved up one spot from No. 7 in 2010.

"This is the fourth consecutive time we have risen in the ranks since our de novo expansion in 2007, and we will continue to employ the strategies that have helped us gain market share year over year,” said Nathan Hunter, Pinnacle Knoxville president.

In Middle Tennessee, Pinnacle maintained the top spot in Rutherford County with 24.07 percent market share and remains the second-largest financial institution in Wilson County with 15.56 percent market share.

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 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 began operations in a single downtown Nashville location in Oct. 2000 and has since grown to over $4.83 billion in assets at June 30, 2011. Pinnacle launched an expansion into Knoxville, Tennessee. Pinnacle is the second-largest bank holding company headquartered in Tennessee, with 31 offices in eight Middle Tennessee counties and three offices in Knoxville. The firm was also added to Standard & Poor’s SmallCap 600 index in 2009.

Additional information concerning Pinnacle can be accessed at www.pnfp.com.

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," “goal,” “objective,” "intend," "plan," "believe," ”should,” "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 factors that may cause the actual results, performance or achievements of Pinnacle Financial to differ materially from any results expressed or implied by such forward-looking statements. Such risks include, without limitation, (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short-term interest rate environment; (iii) the reduction of Pinnacle Financial’s loan balances, and conversely, the inability of Pinnacle Financial to ultimately grow its loan portfolio in the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial’s asset management activities in improving, resolving or liquidating lower-quality assets; (vi) increased competition with other financial institutions; (vii) greater than anticipated deterioration or lack of sustained growth in the national or local economies including the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA, particularly in commercial and residential real estate markets; (viii) rapid fluctuations or unanticipated changes in interest rates; (ix) the results of regulatory examinations; (x) the development of any new market other than Nashville or Knoxville; (xi) a merger or acquisition; (xii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiii) the impact of governmental restrictions on entities participating in the Capital Purchase Program, of the U.S. Department of the Treasury (the “Treasury”); (xiv) further deterioration in the valuation of other real estate owned; (xv) inability to comply with regulatory capital requirements and to secure any required regulatory approvals for capital actions; (xvi) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including regulatory or legislative developments arising out of current unsettled conditions in the economy, including implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; and (xvii) Pinnacle Financial recording a further valuation allowance related to its deferred tax asset. A more detailed description of these and other risks is contained in Pinnacle Financial's annual report on Form 10-K filed with the Securities and Exchange Commission on February 23, 2011 and quarterly report on Form 10-Q filed with the Securities and Exchange commission on May 5, 2011. Many of such factors are beyond Pinnacle Financial's ability to control or predict, and readers are cautioned not to put undue reliance on such forward-looking statements. Pinnacle Financial 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. 

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