PNFP In The News
Less than two years after entering the Chattanooga market by buying the former CapitalMark Bank, Pinnacle has set its sight on being one of the local market leaders by more than doubling its size in the region.
Pinnacle Financial Partners has been steadily ramping up its presence in Memphis since entering the market last year via its acquisition of Memphis-based Magna Bank.
Nashville has become a great place for less entertaining pursuits — banking, for one — thanks to a booming economy fueled by an influx of corporations, health care jobs, investment money and new residents. And one of Nashville's busiest banking concerns, Pinnacle Financial Partners (NASDAQ:PNFP), the second-largest bank holding company based in Tennessee, has been reaping the rewards.
Nashville’s largest locally based bank is fresh off its second acquisition of the year. As far as Terry Turner is concerned, Pinnacle Bank isn’t planning to take its model across state lines – at least, not for the foreseeable future.
Pinnacle associates Brick Sturgeon and Brock Kidd give some advice about investing in a rising interest rate environment--and appear on the cover--of Bank Investment Consultant magazine's October issue.
Pinnacle announced that it has invested $1 million in a lending program from The Knoxville Area Urban League.
Pinnacle keeps on producing solid returns for shareholders with no seeming end in sight. In fact, Pinnacle Financial Partners could be singled out as a poster child of banking institutions.
Pinnacle announced Monday that Missy Wallen has been named as the lender’s Knoxville chairman. Wallen is the former Tennessee president for BB&T.
Nashville banks are chipping into the lending market, and perhaps taking away business from regional players in a meaningful way. Much of the increase locally can be attributed to the growth at Pinnacle Bank and two new players.
One simple reason for Pinnacle’s foray into SBA lending, particularly the program’s 7(a) loans made to existing small businesses and startups, is to expand on its line of credit offerings.