Pinnacle execs forecast further growth
The leaders of Pinnacle Financial Partners on Wednesday said they are confident the 13-year-old bank can continue to add market share in Nashville and Knoxville after reporting better-than-expected second-quarter earnings.
Downtown-based Pinnacle reported second-quarter profits of $14.3 million, a jump of 84 percent from the number of a year ago. Per diluted share, earnings were 42 cents versus the analyst consensus of 39 cents. That performance was helped by a $3.4 million jump in net interest income and a drop of more than $3 million in noninterest expenses. On top of that, fee income rose $1.4 million from the spring of 2012.