Pinnacle Financial Partners

{{Infobox company

| name = Pinnacle Financial Partners, Inc.

| logo = Pinnacle Financial Partners logo.svg

| image = Pinnacle at Symphony Place.jpg

|image_caption = The Pinnacle at Symphony Place, the headquarters of Pinnacle Financial Partners in Nashville, Tennessee.

| type = Public

| traded_as = {{Unbulleted list|{{NASDAQ|PNFP}}|S&P 400 component}}

| predecessor =

| successor =

| founder = M. Terry Turner, Rob McCabe, Hugh Queener

| defunct =

| fate =

| areas_served = Tennessee, North Carolina, South Carolina, Virginia

| key_people = M. Terry Turner (CEO)

| industry = Finance

| genre =

| products =

| services = Financial services

| revenue = {{increase}} US$ {{0|0}}1,147.587 million (2018){{cite web|url=https://www.sec.gov/Archives/edgar/data/1115055/000111505519000011/pnfp1231201810k.htm |title=Pinnacle Financial Partners, Inc. 2018 Annual Report}}

| operating_income =

| net_income = {{increase}} US$ {{0|0}}359.440 million (2018)

| aum =

| assets = {{increase}} US$ {{0|0}}25,031.044 million (2018)

| equity = {{increase}} US$ {{0|0}}3,965.940 million (2018)

| owner =

| num_employees = 2,297 (2018)

| parent =

| divisions =

| subsid =

| footnotes =

| intl =

| foundation = {{Start date and age|2000|2|20}}

| location_city = The Pinnacle at Symphony Place
Nashville, Tennessee

| location_country = U.S.

| locations = 115 (2017)

| market cap =

| homepage = {{URL|pnfp.com}}

}}

Pinnacle Financial Partners, Inc. is an American bank headquartered in Nashville, Tennessee operating in Tennessee, as well as North Carolina, South Carolina, Virginia, Georgia, and Alabama.[https://www.pnfp.com/about-pinnacle/media-room/corporate-fact-sheets/ Pinnacle Financial Partners | Corporate Fact Sheets]

History

The company was founded on February 20, 2000, by twelve Nashville businessmen who wished to create a locally-owned financial firm. In May 2002 the company went public on the NASDAQ with the symbol PNFP. Pinnacle gained naming rights for a new skyscraper in Downtown Nashville, The Pinnacle at Symphony Place, and the company leased {{convert|65000|sqft|m2}} in the building, moving in during 2010.[https://www.pnfp.com/docs/PNFP_Milestones.pdf Pinnacle Financial Partners | Milestones]

On January 22, 2017, Pinnacle announced it was acquiring BNC Bank of High Point, North Carolina, which had branches in North Carolina, South Carolina and Virginia. The deal, worth $1.9 billion and completed June 16, 2017, gave Pinnacle operations in four states.{{cite news|url=http://www.newsobserver.com/news/local/counties/orange-county/article128163464.html#navlink=SecList|title=Bank of North Carolina acquired by Tenn.-based Pinnacle Bank|last=Gallagher|first=Ron|date=January 23, 2017|work=News & Observer|access-date=January 23, 2017}}{{cite news|url=http://www.journalnow.com/business/business_news/local/nashville-bank-completes-billion-purchase-of-bnc-bancorp/article_48a95af3-edf3-5a69-bd6e-923726184935.html|title=Nashville bank completes $1.9 billion purchase of BNC Bancorp|last=Craver|first=Richard|date=June 16, 2017|work=Winston-Salem Journal|access-date=June 29, 2017}}

Pinnacle Financial Partners currently (as of December 31, 2017) has approximately US$22.2 billion{{Cite web|url=http://www.snl.com/IRweblinkx/reports.aspx?keyreport=-58&iid=4055925|title=Pinnacle Financial Highlights|access-date=February 8, 2018}} in assets and has 115 offices. In 2020, Fortune magazine ranked Pinnacle Financial Partners at number 14 on their Fortune List of the Top 100 Companies to Work For in 2020, based on an employee survey of satisfaction.{{cite web|url=https://www.businessinsider.com/best-companies-to-work-for-based-on-employee-satisfaction-fortune-2020-2|title=The 25 best companies to work for, based on employee satisfaction|publisher=Business Insider|author=Jessica Snouwaert|access-date=April 1, 2020}}

As of December 31, 2022, Pinnacle Financial Partners operated 114 offices, including 48 in Tennessee, 37 in North Carolina, 23 in South Carolina, 10 in Virginia, 3 in Georgia and 2 in Alabama.{{cite web|url=https://www.mg21.com/pnfp.html |title=Pinnacle Financial Partners(PNFP) |publisher=美股之家|date=2021-04-15}}

On June 17, 2021, Pinnacle announced its headquarters would move to four floors of a 34-story tower in Nashville Yards, and that the bank's name would appear on top of the building.{{cite news|url=https://www.tennessean.com/story/news/2021/06/17/pinnacle-bank-building-moving-nashville-yards/7728528002/|title=Pinnacle Bank claims prime spot next to Amazon in Nashville Yards|last=Mazza|first=Sandy|work=The Tennessean|date=2021-06-17|accessdate=2021-06-22}}

Programs

= Shared Equity Program =

In 1996 the Housing Fund was created; they are a group which assists first time homebuyers in putting a down payment on their homes.{{Cite web|title=The Housing Fund Receives $10 Million Investment from Pinnacle Financial Towards Shared Equity Program|url=https://thehousingfund.org/the-housing-fund-receives-10-million-investment-from-pinnacle-financial-towards-shared-equity-program/|access-date=October 25, 2021|website=The Housing Fund}} On July 21, 2021, Pinnacle Financial Partners gave a $10 million investment towards their Shared Equity Program. This program provides low income individuals and families with the opportunities and means to buy their first home; by increasing homeownership to previously underserved and marginalized communities, there is a positive push towards increasing the accessibility and affordability of houses. The program is split into three parts: the homebuyers must be able to pay 1% of the price of the home, the program pays for 35%, and the loan from Pinnacle supplies the last 74%.{{Cite web|last=Francis|first=Erica|date=August 6, 2021|title=$10 million committed to affordable housing crisis in Nashville|url=https://www.wkrn.com/news/10-million-committed-to-affordable-housing-crisis-in-nashville/|access-date=October 23, 2021|website=WKRN.COM}} As time goes on, the homeowners can steadily pay off the loan. This was somewhat modeled off of the concept of limited equity in order to build up the wealth for lower income people, allowing them to obtain access to opportunities that would result in an increase in wealth and prosperity.{{Cite web|last=Stephenson|first=Cassandra|date=July 28, 2021|title=Pinnacle invests $10M in program supporting affordable homeownership through shared equity|url=https://www.tennessean.com/story/money/real-estate/2021/07/28/pinnacle-invests-10-million-in-program-supporting-nashville-affordable-homeownership/8091034002/|access-date=October 24, 2021|website=The Tennessean}}

This program has many similarities to a typical community land trust.{{Cite web|last=Collaboration|title=Informing the Development of Nashville's Shared Equity Housing Program: A Review of Case Studies|url=https://peabody.vanderbilt.edu/docs/pdf/ccs/Case%20studies%20of%20shared%20equity.pdf|access-date=October 25, 2021}}