Pinnacle Financial Partners Grows Deposits By More Than 24% In Chattanooga

Tuesday, September 17, 2019

Pinnacle Financial Partners is still the fourth-largest bank in the Chattanooga MSA in terms of deposits, according to new data from the Federal Deposit Insurance Corporation (FDIC). During the 12 months ended June 30, 2019, Pinnacle grew local deposits by more than 24 percent to $852 million, adding $166 million in deposits in that period for 8.37 percent of total market share. Two years prior, Pinnacle held $648 million, or 6.68 percent of market share.

 

“It’s all about the team for us,” said Craig Holley, Pinnacle’s Chattanooga chairman.

“The people we’ve brought together to serve our clients in Chattanooga are the very best in the city. We recruited them to deliver on Pinnacle’s promise of distinctive service and effective advice, and they have done so. We’re grateful to our city for trusting us with their finances.”

 

All three banks that ranked higher than Pinnacle on the list lost both deposits and market share, some by a significant amount.

 

In Tennessee as a whole, Pinnacle displaced SunTrust for the No. 3 position in statewide market share. Pinnacle’s deposits in the four combined markets of Middle Tennessee, Memphis, Knoxville and Chattanooga grew more than 10 percent year-over-year to $13.5 billion at June 30, 2019. In the Nashville MSA, Pinnacle remains the No. 1 ranked bank in terms of deposits, with a year-over-year growth rate of 15 percent to $9.9 billion at June 30, 2019. And in the Knoxville MSA, Pinnacle grew deposits by 22 percent to $1.67 billion for the No. 4 spot at June 30, 2019.

 

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. Pinnacle earned a spot on FORTUNE’s 2019 list of the 100 Best Companies to Work For in the U.S., its third consecutive appearance. American Banker recognized Pinnacle as one of America’s Best Banks to Work For seven years in a row.

 

Pinnacle began serving Chattanooga in 2015 when it acquired CapitalMark Bank & Trust, a community institution with an excellent record of service and growth. Pinnacle continues that tradition: the firm is the fourth-largest bank in Chattanooga in terms of deposits and is also one of the fastest growing.

 

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $26.5 billion in assets as of June 30, 2019. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia.


National Black Lawyers Top 40 Under 40 Names Ariel Anthony In Tennessee

TDOE Announces Leadership And Work Alignments To Support District Needs From COVID-19

Robert C. Divine Recognized By EB-5 Investors Magazine


Husch Blackwell associate Ariel M. Anthony has been selected by The National Black Lawyers for inclusion into its Top 40 Under 40 Black Lawyers in Tennessee. Based in Husch Blackwell’s Chattanooga ... (click for more)

The Tennessee Department of Education on Tuesday announced a realignment of specific department leaders and divisions to further elevate support for districts and students across Tennessee to ... (click for more)

Robert C. Divine of Baker Donelson has been recognized in EB-5 Investors Magazine's list of "Top Attorneys in Specialized Fields." This list features attorneys who are recognized in specialized ... (click for more)



Business

National Black Lawyers Top 40 Under 40 Names Ariel Anthony In Tennessee

Husch Blackwell associate Ariel M. Anthony has been selected by The National Black Lawyers for inclusion into its Top 40 Under 40 Black Lawyers in Tennessee. Based in Husch Blackwell’s Chattanooga office, Ms. Anthony practices in the firm’s Litigation & Alternative Dispute Resolution and Private Wealth groups. The NBL was created to celebrate legal excellence by promoting ... (click for more)

TDOE Announces Leadership And Work Alignments To Support District Needs From COVID-19

The Tennessee Department of Education on Tuesday announced a realignment of specific department leaders and divisions to further elevate support for districts and students across Tennessee to be responsive to the challenges presented by COVID-19. Effective June 1, Sam Pearcy, currently chief operating officer, will be promoted to deputy commissioner of operations; Chief Eve Carney ... (click for more)

Breaking News

Chattanooga Police Crack Down On Paintball Battles

Chattanooga Police are cracking on a new fad of paintball battles. There were a total of 120 warrants issued against 62 persons identified as taking part. The criminal charges stem from 21 identified paintball incidents. In one incident, a man said he was shot multiple times in the eyes and lost the vision in one of his eyes. Charges include reckless endangerment ... (click for more)

CBL & Associates Has $133.9 Million Loss In 1st Quarter

Chattanooga-based CBL & Associates reported a $133.9 million net loss , or $0.75 per diluted share, for the first quarter. That compares with a net loss of $50.2 million, or a loss of $0.29 per diluted share, for the first quarter 2019. Net loss for the first quarter 2020 was impacted by a $133.6 million loss on impairment of real estate to write down the carrying values ... (click for more)

Opinion

Remembering Mendon John Price

It was sad to see that Mendon John Price had passed away. He was the wheelchair bound street musician that many of you saw outside of the Lookouts games and the Tivoli events. He would be playing his harmonica. He once was cited in front of me for panhandling and blocking traffic on the street or sidewalk down where the Lookouts play. Fortunately for him, he came in front ... (click for more)

Roy Exum: A Child Of World War II

I am a child of World War II. Actually, I was born four years after the Japanese surrender – the 75 th anniversary of which will be celebrated this summer – but in my formative years I can very distinctly remember sitting on the floor of DeSales Harrison’s family room at the foot of Lookout Mountain’s East Brow Road and holding the Gendaito (a type of Samurai sword) that ‘Dee’ accepted ... (click for more)