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Pinnacle Retains No. 4 Market Share in Nashville; Jumps to No. 7 Spot in Knoxville

October 28, 2010

Pinnacle Financial Partners Inc. (Nasdaq/NGS: PNFP) remains the fourth-largest out of 60 financial institutions in Nashville-Davidson-Murfreesboro metropolitan statistical area (MSA), according to the Federal Deposit Insurance Corporation (FDIC).

The FDIC’s summary of deposits for June 30, 2009, through June 30, 2010, also shows Pinnacle was the fastest-growing bank in the Knoxville MSA for the third time since its de novo expansion to that market in 2007. It jumped from No. 9 market share in 2009 to No. 7 in 2010.

Pinnacle’s market share in Nashville-Davidson-Murfreesboro was 9.57 percent for the most recent period.

Regions Bank held its No. 1 position with 17.79 percent market share. Bank of America remained the second-largest, with its market share at 15.98 percent. SunTrust maintained its position as the third largest with 11.66 percent share.

“Maintaining our No. 4 spot in Middle Tennessee reflects the market’s confidence in a locally owned bank and the outstanding financial services professionals we hire,” said M. Terry Turner, Pinnacle president and CEO. “Our Knoxville team has taken the strategy that made us successful in Nashville and has used that to grow deposits and market share faster than any other bank in that market.”

In the Knoxville MSA, Pinnacle grew its deposits by approximately $74.8 million over the prior year, giving the firm 2.47 percent market share, up from 1.97 percent in 2009. This makes Pinnacle the fastest-growing bank in the MSA, climbing two positions to the seventh largest market share in Knoxville.

"We grew our deposits by about a third in 2010, and we continue to gain market share in the Knoxville MSA," said Nathan Hunter, Pinnacle Knoxville president. "This great momentum shows that increasing numbers of clients appreciate the high level of service and financial counsel that we deliver.”

Pinnacle maintained the top spot in Rutherford County with 25.43 percent market share and remains the second-largest financial institution in Wilson County with 16.87 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, 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 began operations in a single downtown Nashville location in Oct. 2000 and has since grown to over $4.9 billion in assets at June 30, 2010. In 2007, Pinnacle launched an expansion into Knoxville, another high growth MSA. At June 30, 2010, Pinnacle is the second-largest bank holding company headquartered in Tennessee, with 31 offices in eight Middle Tennessee counties and three in Knoxville. The firm was also added to Standard & Poor’s SmallCap 600 index in 2009.

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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," “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 to differ materially from any results expressed or implied by such forward-looking statements. Such factors 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  continued 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) increased competition with other financial institutions; (vi) 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; (vii) rapid fluctuations or unanticipated changes in interest rates; (viii) the results of regulatory examinations; (ix) the development of any new market other than Nashville or Knoxville; (x) a merger or acquisition; (xi) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xii) the impact of governmental restrictions on entities participating in the Capital Purchase Program, of the U.S. Department of the Treasury (the “Treasury”); (xiii) further deterioration in the valuation of other real estate owned; (xiv) inability to comply with regulatory capital requirements and to secure any required regulatory approvals for capital actions; and (xv) 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 passage and implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act; and (xvi) 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 most recent annual report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2010 and most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 7, 2010. 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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