Welcome to our dedicated page for Pinnacle Finl Partners news (Ticker: PNFP), a resource for investors and traders seeking the latest updates and insights on Pinnacle Finl Partners stock.
Pinnacle Financial Partners reports developments for a regional bank holding company that provides banking, investment, trust, mortgage and insurance products and services to commercial and consumer clients. Its updates center on operating results, loan and deposit trends, net interest income, market expansion, recruiting of revenue-producing bankers and client-service teams, and the integration of its completed 2026 combination with Synovus.
Recurring company news also includes common and preferred stock dividends, investor conference participation, branch and market-entry announcements, and business outlook commentary for its banking footprint across Tennessee, Georgia, Florida, the Carolinas, Alabama, Kentucky, Virginia and Maryland.
Pinnacle Financial Partners (PNFP) announced it will release its second quarter 2021 financial results on July 20, 2021, after market close. A live webcast is scheduled for July 21, 2021, at 8:30 a.m. CDT, to discuss these results and the business outlook. Pinnacle, recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, has approximately $35.3 billion in assets as of March 31, 2021, and has been featured on the 2021 list of 100 Best Companies to Work For® in the U.S.
Pinnacle Financial Partners (PNFP) has expanded its presence in Birmingham, Alabama, by hiring four seasoned financial professionals. Mark Imig, former regional manager at First Horizon, will lead as regional president. He is joined by advisors Pat Sullivan and Chris Bledsoe, and credit advisor Rayna Hawthorne. The team aims to leverage Pinnacle's local decision-making culture while utilizing the capabilities of a $35 billion firm to serve Birmingham’s growing business community. The firm is focused on enhancing its commercial banking services in the region.
Kroll Bond Rating Agency has upgraded Pinnacle Financial Partners' (PNFP) credit ratings, reflecting its robust business strategy and performance during the pandemic. The senior unsecured credit rating rose to A- from BBB+, and the subordinated debt rating improved to BBB+ from BBB. Preferred shares ratings were upgraded to BBB from BBB-. KBRA analysts praised Pinnacle's risk management and asset quality, while CEO Terry Turner emphasized the importance of company culture in achieving these results. Pinnacle is recognized as a top bank in its region, with significant assets and a strong workforce environment.
Pinnacle Financial Partners (Nasdaq: PNFP) has hired a team of nine financial experts to enhance client service and market presence in Huntsville, AL. Led by Jason Baldwin, a former market CEO at BBVA, the team comprises four financial advisors, a credit advisor, an office leader, and three support associates. Huntsville, one of the Southeast's fastest-growing MSAs, presents a lucrative opportunity for Pinnacle to compete with larger banks. Baldwin's extensive experience and the team's collective expertise aim to provide personalized banking solutions in a market driven by rapid growth.
Pinnacle Financial Partners' advisor Michael Corbett has been honored with a place in the Captive Review Hall of Fame, recognizing his significant contributions to the captive insurance industry. With over 40 years of experience, Corbett previously oversaw the licensing of 669 Risk Bearing Entities in Tennessee, managing $1.4 billion in annual premiums. His work at Pinnacle bolsters the firm's captive insurance practice. Pinnacle, ranked No. 1 bank in Nashville-Murfreesboro-Franklin MSA, boasts approximately $35.3 billion in assets and is included in the Nasdaq Financial-100 Index.
Pinnacle Financial Partners (PNFP) has successfully issued over 9,000 Paycheck Protection Program loans, totaling $930 million in its second round of lending. Combined with the first round, the firm has provided 23,778 loans worth more than $3.2 billion. The average size of the second round loans was $102,441, primarily small-dollar loans. Pinnacle has seen an uptick in loan payoffs and has opened a forgiveness application portal for borrowers. As of March 31, 2021, Pinnacle has approximately $35.3 billion in assets, serving various markets across Tennessee and beyond.
Pinnacle Financial Partners (PNFP) declared a cash dividend of $0.18 per common share, payable on May 28, 2021, to shareholders of record by May 7, 2021. Additionally, a quarterly dividend of approximately $3.8 million, or $16.88 per share, on its 6.75% Series B Preferred Stock will be paid on June 1, 2021, to shareholders of record as of May 17, 2021. As of March 31, 2021, Pinnacle reported $35.3 billion in assets and continues to rank No. 1 in the Nashville-Murfreesboro-Franklin MSA. The firm's Board of Directors will determine future dividend payments.
Pinnacle Financial Partners (PNFP) reported a record net income per diluted share of $1.61 for Q1 2021, a significant increase of 335% year-over-year. The company achieved record book value of $62.33 per share and tangible book value of $37.88, representing annual growth of 8% and 14%, respectively. Total loans rose to $23.1 billion, with a 13.2% increase since Q1 2020, including $2.2 billion in PPP loans. Deposits reached a record $28.3 billion, up 32.6% from the previous year. The firm continues to see strong growth in core deposits and profitability metrics.
Pinnacle Financial Partners (PNFP) will release its first quarter 2021 financial results on April 19, 2021, after market close. A live webcast to discuss these results and the firm's business outlook will follow on April 20, 2021, at 8:30 a.m. CDT. The earnings release will be accessible on Pinnacle’s investor relations website. Pinnacle is recognized as the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA and has appeared on the 100 Best Companies to Work For list for four consecutive years. As of December 31, 2020, Pinnacle's assets totaled approximately $34.9 billion.
Pinnacle Financial Partners has been named one of the 100 Best Companies to Work For by FORTUNE for the fifth consecutive year, achieving No. 26 on the list. The award highlighted the company's dedication to employee welfare during the pandemic, with over 96% of employees praising the firm's culture and support. Pinnacle processed 14,000 Paycheck Protection Program loans worth $2.4 billion to assist clients during the crisis. The company continues to gain recognition for its workplace culture and community impact.