Pinnacle to Build Office in Farragut
Pinnacle Financial Partners plans to start construction at the end of April for the firm’s third full-service banking location in the Knoxville area. The office is expected to open in fourth quarter 2009 at 241 Brooklawn St. in Farragut’s Brooklawn Development.
Farragut is the third of five full-service offices Pinnacle plans to open in Knoxville by the end of 2010. Pinnacle has a full-service office on Northshore in Knoxville and a loan production office in North Knoxville. Construction is underway on a second Knoxville office in Fountain City, also planned for a fourth quarter opening.
“Farragut is a great location for us as we expand our reach in the Knoxville market,” said Nathan Hunter, Pinnacle’s Knoxville president. “We look forward to serving current and new business and consumer clients who live or work in this area.”
The 3,900 sq. ft. office will have the same contemporary architectural style featured at other Pinnacle locations. The Hastings Architecture Associates design calls for two drive-through banking lanes and a drive-up automated teller machine (ATM).
In addition to client service and work areas, the Farragut office will have other Pinnacle signature features, including the Pinnacle Learning Center for meetings, workshops and use by community groups and a decorative water wall.
“While many financial services firms are cutting office locations and workforce in the economic downturn, Pinnacle continues to add new associates and build new facilities in Knoxville and its other markets,” Hunter said. “Pinnacle has been able to sustain its growth, strong capital base and credit quality as a result of hiring the most experienced financial services professionals in the market.”
Pinnacle has hired 42 associates in Knoxville since its start-up in 2007. Loans outstanding in Knoxville at Dec. 31, 2008, were $318 million, which is $93 million ahead of the original target disclosed at the time the Knoxville expansion was announced.
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. Pinnacle’s 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.
Based in Nashville, Tenn., Pinnacle is Tennessee’s second-largest bank holding company with $4.8 billion in assets and 31 offices in eight Middle Tennessee counties, in addition to its Knoxville presence. The firm is the fastest growing of the 186 national banks chartered in 2000 and in 2009 was added to Standard & Poor’s SmallCap 600 index. For more information, visit www.pnfp.com.