Pinnacle Financial Reports Strong Loan Growth and Earnings of $0.03 Per Fully Diluted Share for First Quarter of 2009

NASHVILLE, Tenn.--(Business Wire)--
Pinnacle Financial Partners Inc. (Nasdaq/NGS: PNFP) today reported continued
loan growth for the quarter ended March 31, 2009. Fully diluted earnings per
common share available to common stockholders were $0.03 for the quarter ended
March 31, 2009, compared to $0.26 per fully diluted common share available to
common stockholders for the quarter ended March 31, 2008, which included the
fully-diluted per common share impact of $0.08 of merger expenses related to the
Pinnacle`s acquisition of Mid-America Bancshares Inc.

Pinnacle also reported $119 million in organic loan growth during the first
quarter of 2009 which approximated the $117 million reported in the same quarter
of 2008. At March 31, 2009, Pinnacle`s allowance for loan losses was 1.30
percent of total loans, compared to 1.04 percent at March 31, 2008.

"Our first quarter 2009 results reflect increased provisioning and adherence to
new and stricter underwriting standards for residential construction and
development loans," said M. Terry Turner, Pinnacle president and chief executive
officer. "In recent investor conferences and other public disclosures during the
first quarter, we have emphasized we expect to experience increased charge-offs
and provisioning due to the continued economic weakness of our local economy,
particularly in residential construction and development.

"It is difficult to project a substantial strengthening of the residential real
estate market in Nashville in 2009. We are encouraged by recent valuations of
residential real estate and development projects as it appears appraisal values
are beginning to stabilize. In addition, we intend to continue our long-standing
core business strategies which we believe will enable us to continue to grow the
pre-tax, pre-provision capacity of this firm during 2009," Turner said.

Turner noted that the firm continues to monitor the progress of a $21.5 million
loan to a financial institution which originated at PrimeTrust Bank and was
acquired by Pinnacle in the Mid-America Bancshares Inc. merger in 2007. The
borrower has been under increased regulatory pressure with respect to its
capital position in recent months due to the borrower`s deteriorating real
estate portfolio. Turner noted that Pinnacle had downgraded the loan from
criticized to classified status during the first quarter of 2009.

"This loan is our only loan to a financial institution," said Turner. "During
the course of the last few weeks and even as late as today, we have been in
discussions with this borrower regarding this loan and suitable repayment
options. We are encouraged about the progress this borrower has made in its
recapitalization efforts and in resolving its regulatory issues. However, this
borrower`s future is uncertain which ultimately could require further downgrades
and a reevaluation of our collateral position. We remain hopeful that we will be
paid in full on this loan."

FIRST QUARTER 2009 HIGHLIGHTS:

* Earnings

* Net income available to common stockholders for the first quarter of 2009 was
$643,000, down 89.4 percent from the prior year's first quarter net income of
$6.1 million. Included in net income available to common stockholders was $1.43
million of charges related to securities issued under the U.S. Treasury`s
Capital Purchase Program.
* Revenue (the sum of net interest income and noninterest income) for the
quarter ended March 31, 2009, amounted to $41.84 million, compared to $35.73
million for the same quarter of last year, an increase of 17.1 percent.
Excluding the gains on sales of investment securities, revenues increased by 4.9
percent between the first quarter of 2009 and first quarter of 2008.

* Continued balance sheet growth

* Loans at March 31, 2009, were $3.47 billion, up $607 million from $2.87
billion at March 31, 2008, representing a growth rate of 21.2 percent.
* Total deposits at March 31, 2009, were $3.75 billion, up $784 million from
$2.97 billion at March 31, 2008, representing a growth rate of 26.4 percent.

* Credit quality

* Net charge-offs as a percentage of average loan balances were 0.56 percent
(annualized) for the three months ended March 31, 2009, compared to 0.03 percent
(annualized) for the three months ended March 31, 2008.
* Nonperforming assets were 1.54 percent of total loans and other real estate at
March 31, 2009, compared to 0.86 percent at Dec. 31, 2008, and 0.72 percent at
March 31, 2008.
* Past due loans over 30 days, excluding nonperforming loans, were 1.12 percent
of total loans and other real estate at March 31, 2009, 0.60 percent at Dec. 31,
2008, and 0.77 percent at March 31, 2008.

* Capital

* At March 31, 2009, Pinnacle`s ratio of tangible common stockholders` equity to
tangible assets was 6.0 percent, compared to 6.2 percent at Dec. 31, 2008.
Pinnacle`s tangible book value per common share was $11.75 at March 31, 2009,
compared to $11.70 at Dec. 31, 2008.
* At March 31, 2009, Pinnacle`s total risk based capital ratio was 13.3 percent,
compared to 13.5 percent at Dec. 31, 2008.

"We continue to be well-capitalized pursuant to regulatory guidelines which
provides us a great deal of flexibility during this time of both significant
growth opportunities and a weaker overall economy. We are in the sixth quarter
of a national recessionary period that is beginning to weigh on some of our
borrowers. Our most important strategy since our inception in 2000 has been to
hire experienced professionals who are able to attract the market`s best
clients, grow loans, deposits and fee-based businesses and apply sound credit
practices. Their efforts helped our nonperforming asset ratio remain better than
peer averages this quarter," Turner said. "We continue to believe that Nashville
and Knoxville are two of the best banking markets in the country and the
competitive landscape continues to offer solid growth potential for our firm."

FINANCIAL PERFORMANCE AND BALANCE SHEET GROWTH

* Return on average assets for the first quarter 2009 was 0.05 percent, compared
to 0.65 percent for the first quarter of 2008.
* Return on average stockholders' equity for the quarter ended March 31, 2009,
was 0.41 percent, compared to 5.14 percent for the first quarter of 2008.
* Return on average tangible stockholders' equity (average stockholders' equity
less goodwill and core deposit intangibles) for the quarter ended March 31,
2009, was 0.70 percent, compared to 11.31 percent for the first quarter of
2008.

Total assets grew to $4.95 billion as of March 31, 2009, up $1.06 billion from
the $3.89 billion reported at the same time last year.

CREDIT QUALITY

* Allowance for loan losses represented 1.30 percent of total loans at March 31,
2009, compared to 1.04 percent a year ago.

* The ratio of the allowance for loan losses to nonperforming loans decreased to
134 percent at March 31, 2009, compared to 174 percent at March 31, 2008.

* Provision for loan losses was $13.61 million for the first quarter of 2009,
compared to $1.59 million for the first quarter of 2008.

* During the first quarter of 2009, the firm recorded net charge-offs of $4.8
million, compared to net charge-offs of $190,000 during the same period in 2008.
Net charge-offs to total average loans were 0.56 percent for the quarter ended
March 31, 2009.

As noted above, Pinnacle reported that nonperforming loans and other real estate
as a percentage of total loans and other real estate increased from 0.86 percent
at Dec. 31, 2008, to 1.54 percent at March 31, 2009. The following is a summary
of the activity in various nonperforming asset categories for the quarter ended
March 31, 2009:

Balances Payments, Sales Balances
(in thousands) Dec. 31, 2008 and Reductions Increases March 31, 2009
Nonperforming loans:
Residential construction & development $ 5,052 $ 4,526 $ 23,941 $ 24,467
Other 5,808 3,762 7,350 9,396
Totals 10,860 8,288 31,291 33,863
Other real estate:
Residential construction & development 17,222 2,070 4,018 19,170
Other 1,084 474 37 647
Totals 18,306 2,544 4,055 19,817
Total nonperforming assets $ 29,166 $ 10,832 $ 35,346 $ 53,680

REVENUE

* Net interest income for first quarter 2009 was $28.70 million, compared to
$27.36 million for the same quarter last year, an increase of 4.9 percent.

* Net interest margin for the first quarter of 2009 was 2.72 percent, compared
to a net interest margin of 3.37 percent for the same period last year.

* Noninterest income for the first quarter 2009 was $13.14 million, a 57.0
percent increase over the $8.37 million recorded during the same quarter in
2008.

"We have traditionally been an asset sensitive institution," said Harold R.
Carpenter, chief financial officer of Pinnacle Financial Partners. "However, we
are optimistic, absent any unforeseen competitive pressures or economic events,
that continued stabilization of LIBOR rates, increased balances of new loans
with interest rate floors and repricing of our time deposits over the next few
months will result in modest increases in our net interest margin for the
balance of 2009."

The 57.0 percent increase in noninterest income between the first quarter of
2009 and the first quarter of 2008 was due primarily to gains on the sale of
investment securities. During the first quarter of 2009, the firm recorded gains
on the sale of investment securities of approximately $4.3 million as a result
of restructuring of the bond portfolio. Excluding gains on the sale of
investment securities, Pinnacle`s noninterest income increased by 5.0 percent
between the first quarter of 2009 and the first quarter of 2008. During the
first quarter of 2009, Pinnacle's mortgage origination unit sold a record
$192.93 million of mortgage loans, compared to $59.76 million during the first
quarter of 2008, an increase of 223 percent. Gross fees on these loan sales were
$2.7 million in the first quarter of 2009, compared to $1.1 million in the first
quarter of 2008.

Noninterest income during the first quarter of 2009 represented approximately
31.40 percent of total revenues, compared to 23.42 percent for the same quarter
in 2008.

NONINTEREST EXPENSE

* Noninterest expense for the quarter ended March 31, 2009, was $25.24 million,
compared to $25.49 million in the first quarter of 2008 which includes $3.1
million of merger related expenses.
* Compensation expense was $14.75 million during the first quarter of 2009,
compared to $9.98 million during the fourth quarter of 2008 and $13.87 million
during the first quarter of 2008. The increase in compensation expense between
the first quarter of 2009 and fourth quarter of 2008 was due to the reversal of
previously accrued incentives during the fourth quarter of 2008 and increased
number of associates during the first quarter of 2009.
* The efficiency ratio (noninterest expense divided by net interest income and
noninterest income) was 60.3 percent during the first quarter of 2009, compared
to 59.5 percent for the fourth quarter of 2008 and 71.4 percent in the first
quarter of 2008. Excluding merger related expenses, the efficiency ratio was
62.7 percent in the first quarter of 2008.

Carpenter noted that the firm will continue to make investments in future growth
and, consequently, anticipates modest increases in noninterest expense for the
remainder of 2009 over the amount the firm has experienced during the first
quarter of 2009.

Carpenter did note that the firm anticipates an incremental additional FDIC
insurance assessment of approximately $3.5 million during the second quarter of
2009 and that the firm would evaluate impairment of goodwill, if required, prior
to filing its Form 10-Q with the Securities and Exchange Commission.

INVESTMENTS IN FUTURE GROWTH

* Pinnacle has hired 32 highly experienced associates for its denovo expansion
to Knoxville that was announced on April 9, 2007. Loans outstanding in Knoxville
at March 31, 2009, were $330 million. Pinnacle currently has a second
full-service office under construction in the Fountain City area of Knoxville
and has announced plans to build a third in the Farragut area. Both will open in
the fourth quarter of 2009.
* Pinnacle also has two new Nashville offices under construction - in the Belle
Meade area and in Brentwood, Tenn., in adjacent Williamson County. Both are
expected to open in the fourth quarter of 2009 with the new Brentwood location
being the consolidation of two existing Brentwood locations.
* Pinnacle's total associate base at March 31, 2009, was 736.0 full-time
equivalents (FTEs), compared to 686.0 at March 31, 2008. Pinnacle anticipates
increasing its associate base by approximately 45 associates during 2009.

Pinnacle Financial Partners provides a full range of banking, investment,
mortgage and insurance products and services designed for small- to mid-sized
businesses and their owners, real estate professionals and individuals
interested in a comprehensive relationship with their financial institution.
Comprehensive wealth management services, such as financial planning and trust,
help clients increase, protect and distribute their assets. The firm also has a
well-established expertise in commercial real estate.

The firm began operations in a single downtown Nashville location in October
2000 and has since grown to $4.9 billion in assets. In 2007, Pinnacle launched
an expansion into Knoxville, another high growth MSA. The addition of
Mid-America has made Pinnacle the second-largest bank holding company
headquartered in Tennessee, with 31 offices in eight Middle Tennessee counties
and two in Knoxville.

Additional information concerning Pinnacle can be accessed at www.pnfp.com.

Certain of the statements in this release may constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The
words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate"
and similar expressions are intended to identify such forward-looking
statements, but other statements not based on historical information may also be
considered forward-looking. All forward-looking statements are subject to risks,
uncertainties and other facts that may cause the actual results, performance or
achievements of Pinnacle to differ materially from any results expressed or
implied by such forward-looking statements. Such factors include, without
limitation, (i) unanticipated deterioration in the financial condition of
borrowers resulting in significant increases in loan losses and provisions for
those losses, (ii) continuation of the historically low short-term interest rate
environment, (iii) the inability of Pinnacle to continue to grow its loan
portfolio at historic rates in the Nashville-Davidson-Murfreesboro-Franklin MSA
and the Knoxville MSA, (iv) increased competition with other financial
institutions, (v) deterioration or lack of sustained growth in the national or
local economies including the Nashville-Davidson-Murfreesboro-Franklin MSA and
the Knoxville MSA, (vi) rapid fluctuations or unanticipated changes in interest
rates, (vii) the development any new market other than Nashville or Knoxville,
(viii) a merger or acquisition, (ix) any activity in the capital markets that
would cause Pinnacle to conclude that there was impairment of any asset
including intangible assets and (x) changes in state and Federal legislation or
regulations applicable to banks and other financial services providers,
including regulatory or legislative developments arising out of current
unsettled conditions in the economy. A more detailed description of these and
other risks is contained in Pinnacle`s most recent annual report on Form 10-K.
Many of such factors are beyond Pinnacle's ability to control or predict, and
readers are cautioned not to put undue reliance on such forward-looking
statements. Pinnacle disclaims any obligation to update or revise any
forward-looking statements contained in this release, whether as a result of new
information, future events or otherwise.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - UNAUDITED

March 31, 2009 December 31, 2008
ASSETS
Cash and $ 47,708,780 $ 68,388,961
noninterest
-bearing due
from banks
Interest 82,793,738 8,869,680
-bearing due
from banks
Federal funds 22,789,662 12,994,114
sold and
other
Cash and cash 153,292,180 90,252,755
equivalents

Securities 857,932,392 839,229,428
available-for
-sale, at
fair value
Securities 10,539,910 10,551,256
held-to
-maturity
(fair value
of
$10,466,838
and
$10,469,307
at March 31,
2009 and
December 31,
2008,
respectively)
Mortgage 24,651,088 25,476,788
loans held
-for-sale

Loans 3,473,959,457 3,354,907,269
Less (45,334,073 ) (36,484,073 )
allowance for
loan losses
Loans, net 3,428,625,384 3,318,423,196

Premises and 68,855,561 68,865,221
equipment,
net
Other 35,139,980 33,616,450
investments
Accrued 17,752,634 17,565,141
interest
receivable
Goodwill 244,120,021 244,160,624
Core deposit 16,112,670 16,871,202
and other
intangible
assets
Other real 19,816,743 18,305,880
estate
Other assets 75,312,868 70,756,823
Total assets $ 4,952,151,431 $ 4,754,074,764

LIABILITIES
AND
STOCKHOLDERS'
EQUITY
Deposits:
Noninterest $ 451,418,417 $ 424,756,813
-bearing
Interest 380,384,416 375,992,912
-bearing
Savings and 717,265,116 694,582,319
money market
accounts
Time 2,201,890,175 2,037,914,307
Total 3,750,958,124 3,533,246,351
deposits
Securities 209,590,988 184,297,793
sold under
agreements to
repurchase
Federal Home 221,642,376 201,966,181
Loan Bank
advances and
other
borrowings
Federal Funds 397,000 71,643,000
purchased
Subordinated 97,476,000 97,476,000
debt
Accrued 9,327,196 8,326,264
interest
payable
Other 31,113,517 29,820,779
liabilities
Total 4,320,505,201 4,126,776,368
liabilities

Stockholders`
equity:
Preferred 88,607,989 88,348,647
stock, no par
value;
10,000,000
shares
authorized;
95,000 shares
issued and
outstanding
at March 31,
2009 and
December 31,
2008
Common stock, 24,060,703 23,762,124
par value
$1.00;
90,000,000
shares
authorized;
24,060,703
issued and
outstanding
at March 31,
2009 and
23,762,124
issued and
outstanding
at December
31, 2008
Common stock 6,696,804 6,696,804
warrants
Additional 418,216,850 417,040,974
paid-in
capital
Retained 85,380,063 84,380,447
earnings
Accumulated 8,683,821 7,069,400
other
comprehensive
income, net
of taxes
Stockholders` 631,646,230 627,298,396
equity
Total $ 4,952,151,431 $ 4,754,074,764
liabilities
and
stockholders`
equity

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

Three Months Ended
March 31,
2009 2008
Interest income:
Loans, including fees $ 38,525,745 $ 45,392,162
Securities:
Taxable 9,087,687 4,637,277
Tax-exempt 1,474,654 1,351,037
Federal funds sold and other 430,240 780,917
Total interest income 49,518,326 52,161,393

Interest expense:
Deposits 17,733,785 21,085,633
Securities sold under agreements to repurchase 360,787 832,053
Federal Home Loan Bank advances and other 2,723,502 2,884,586
borrowings
Total interest expense 20,818,074 24,802,272
Net interest income 28,700,252 27,359,121
Provision for loan losses 13,609,535 1,591,123
Net interest income after provision for loan losses 15,090,717 25,767,998

Noninterest income:
Service charges on deposit accounts 2,476,951 2,573,737
Investment services 854,103 1,268,248
Insurance sales commissions 1,305,209 1,063,663
Gain on loans and loan participations sold, net 1,287,772 656,088
Net gain on sale of investments 4,346,146 -
Trust fees 657,708 505,000
Other noninterest income 2,207,634 2,300,667
Total noninterest income 13,135,523 8,367,403

Noninterest expense:
Salaries and employee benefits 14,751,049 13,866,737
Equipment and occupancy 4,235,328 4,276,273
Other real estate owned 700,595 53,664
Marketing and other business development 439,516 375,871
Postage and supplies 830,138 648,340
Amortization of intangibles 758,533 766,033
Other noninterest expense 3,527,865 2,398,977
Merger related expense - 3,105,763
Total noninterest expense 25,243,024 25,491,658
Income before income taxes 2,983,216 8,643,743
Income tax expense 893,008 2,578,953
Net income 2,090,208 6,064,790
Preferred dividends 1,187,500 -
Accretion on preferred stock discount 259,342 -
Net income available to common stockholders $ 643,366 $ 6,064,790

Per share information:
Basic net income per common share available to $ 0.03 $ 0.27
common stockholders
Diluted net income per common share available to $ 0.03 $ 0.26
common stockholders

Weighted average shares outstanding:
Basic 23,510,994 22,331,398
Diluted 24,814,408 23,484,754

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED

Three months ended Three months ended
(dollars in thousands) March 31, 2009 March 31, 2008
Average Average
Balances Interest Rates/ Yields Balances Interest Rates/ Yields
Interest-earning assets:
Loans $ 3,416,462 $ 38,526 4.57 % $ 2,761,745 $ 45,392 6.61 %
Securities:
Taxable 716,317 9,088 5.15 % 367,125 4,637 5.12 %
Tax-exempt (1) 147,963 1,475 5.33 % 136,690 1,351 5.24 %
Federal funds sold and other 73,435 430 2.57 % 58,892 781 5.56 %
Total interest-earning assets 4,354,177 $ 49,519 4.66 % 3,324,452 $ 52,161 6.37 %
Nonearning assets
Intangible assets 260,729 258,807
Other nonearning assets 254,484 190,783
Total assets $ 4,869,390 $ 3,774,042

Interest-bearing liabilities:
Interest-bearing deposits
Interest checking $ 359,524 $ 428 0.48 % $ 404,307 $ 2,129 2.12 %
Savings and money market 715,704 1,940 1.10 % 735,899 4,098 2.24 %
Certificates of deposit 2,155,478 15,366 2.89 % 1,372,899 14,859 4.35 %
Total interest-bearing deposits 3,230,706 17,734 2.23 % 2,513,105 21,086 3.37 %
Securities sold under agreements to repurchase 229,918 361 0.64 % 169,146 832 1.98 %
Federal Home Loan Bank advances and other borrowings 234,887 1,571 2.71 % 143,802 1,426 3.99 %
Subordinated debt 97,476 1,153 4.80 % 82,476 1,458 7.11 %
Total interest-bearing liabilities 3,792,987 20,819 2.23 % 2,908,529 24,802 3.43 %
Noninterest-bearing deposits 417,861 - - 368,413 - -
Total deposits and interest-bearing liabilities 4,210,848 $ 20,819 2.01 % 3,276,942 $ 24,802 3.04 %
Other liabilities 24,061 22,661
Stockholders' equity 634,481 474,439
Total liabilities and stockholders' equity $ 4,869,390 $ 3,774,042
Netinterestincome $ 28,700 $ 27,359
Net interest spread (2) 2.43 % 2.94 %
Net interest margin (3) 2.72 % 3.37 %

(1) Yields computed on tax-exempt instruments on a tax equivalent basis.
(2) Yields realized on interest-earning assets less the rates paid on interest-bearing liabilities.
(3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA - UNAUDITED

March Dec Sept June March Dec
(dollars in thousands) 2009 2008 2008 2008 2008 2007
Balance sheet data, at quarter end:
Total assets $ 4,952,151 4,755,781 4,337,552 4,106,055 3,889,286 3,794,170
Total loans 3,473,959 3,354,907 3,202,909 3,032,272 2,866,536 2,749,641
Allowance for loan losses (45,334 ) (36,484 ) (34,841 ) (31,789 ) (29,871 ) (28,470 )
Securities 868,472 849,781 628,807 521,214 505,377 522,685
Noninterest-bearing deposits 451,418 424,757 457,543 438,458 429,289 400,120
Total deposits 3,750,958 3,533,246 3,295,163 3,152,514 2,967,025 2,925,319
Securities sold under agreements to repurchase 209,591 184,298 198,807 183,188 171,186 156,071
FHLB advances and other borrowings 221,642 273,609 207,239 187,315 168,606 141,666
Subordinated debt 97,476 97,476 97,476 82,476 82,476 82,476
Total stockholders` equity 631,646 627,035 512,569 481,709 476,772 466,610

Balance sheet data, quarterly averages:
Total assets $ 4,869,390 4,525,406 4,202,592 3,913,519 3,774,042 2,791,669
Total loans 3,416,462 3,282,461 3,129,549 2,941,973 2,761,745 2,063,442
Securities 864,280 722,051 590,143 516,949 503,815 410,142
Total earning assets 4,354,177 4,077,310 3,765,582 3,500,853 3,324,452 2,541,799
Noninterest-bearing deposits 417,861 442,267 409,850 398,337 368,413 327,866
Total deposits 3,648,567 3,393,234 3,178,863 2,947,669 2,881,518 2,135,973
Securities sold under agreements to repurchase 229,918 238,310 204,101 174,847 169,146 201,605
Advances from FHLB and other borrowings 234,887 234,482 215,739 208,773 143,802 57,970
Subordinated debt 97,476 97,476 90,465 82,476 82,476 72,391
Total stockholders` equity 634,481 540,260 502,575 477,502 474,439 309,431

Statement of operations data, for the three months ended:
Interest income $ 49,518 53,273 51,873 48,774 52,161 43,338
Interest expense 20,818 23,381 22,591 21,092 24,802 21,329
Net interest income 28,700 29,892 29,281 27,682 27,359 22,009
Provision for loan losses 13,610 3,710 3,125 2,787 1,591 2,260
Net interest income after provision for loan losses 15,090 26,182 26,157 24,895 25,768 19,749
Noninterest income 13,136 8,040 9,253 9,058 8,367 6,612
Noninterest expense 25,243 22,586 23,326 23,075 25,492 17,762
Income before taxes 2,982 11,636 12,083 10,878 8,644 8,599
Income tax expense 893 3,583 3,288 2,917 2,579 2,357
Preferred dividends and accretion 1,447 309 - - - -
Net income available to common stockholders $ 642 7,744 8,795 7,961 6,065 6,242

Profitability and other ratios:
Return on avg. assets (1) 0.05 % 0.68 % 0.83 % 0.82 % 0.65 % 0.89 %
Return on avg. equity (1) 0.41 % 5.70 % 6.96 % 6.71 % 5.14 % 8.00 %
Net interest margin (2) 2.72 % 2.96 % 3.14 % 3.24 % 3.37 % 3.49 %
Noninterest income to total revenue (3) 31.40 % 21.19 % 24.01 % 24.66 % 23.42 % 23.10 %
Noninterest income to avg. assets (1) 1.09 % 0.71 % 0.88 % 0.93 % 0.89 % 0.94 %
Noninterest exp. to avg. assets (1) 2.10 % 1.99 % 2.21 % 2.36 % 2.71 % 2.52 %
Efficiency ratio (4) 60.34 % 59.54 % 60.53 % 62.81 % 71.35 % 62.06 %
Avg. loans to average deposits 93.64 % 96.74 % 98.45 % 99.81 % 95.84 % 96.60 %
Securities to total assets 17.54 % 17.87 % 14.50 % 12.69 % 13.00 % 13.75 %
Average interest-earning assets to average interest-bearing liabilities 114.80 % 115.79 % 114.83 % 116.10 % 114.30 % 118.77 %
Brokered time deposits to total deposits (16) 17.39 % 16.55 % 13.95 % 12.53 % 7.78 % 9.48 %

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA - UNAUDITED

March Dec Sept June March Dec
(dollars in thousands) 2009 2008 2008 2008 2008 2007

Asset quality information and ratios:
Nonperforming assets:
Nonaccrual loans $ 33,863 10,860 17,743 13,067 17,124 19,677
Other real estate $ 19,817 18,306 12,142 9,181 3,567 1,673
Past due loans over 90 days and still accruing interest $ 3,871 1,508 3,241 2,272 2,002 1,613
Net loan charge-offs $ 4,760 2,068 73 870 190 462
Allowance for loan losses to total loans 1.30 % 1.09 % 1.09 % 1.05 % 1.04 % 1.04 %
Allowance for loan losses to nonaccrual loans 133.9 % 335.9 % 196.4 % 243.3 % 174.4 % 144.7 %
As a percentage of total loans and ORE:
Past due accruing loans over 30 days 1.12 % 0.60 % 0.61 % 0.34 % 0.77 % 0.45 %
Nonperforming assets 1.54 % 0.86 % 0.93 % 0.73 % 0.72 % 0.78 %
Potential problem loans (5) 2.59 % 0.83 % 0.83 % 0.40 % 0.64 % 0.56 %
Annualized net loan charge-offs year-to-date to avg. loans (6) 0.56 % 0.10 % 0.05 % 0.07 % 0.03 % 0.07 %
Avg. commercial loan internal risk ratings (5) 4.3 4.2 4.2 4.0 4.1 4.1
Avg. loan account balances (7) $ 185 177 170 163 170 160

Interest rates and yields:
Loans 4.57 % 5.27 % 5.60 % 5.77 % 6.61 % 7.23 %
Securities 5.18 % 5.40 % 5.24 % 5.10 % 5.11 % 4.92 %
Total earning assets 4.66 % 5.25 % 5.53 % 5.66 % 6.37 % 6.82 %
Total deposits, including non-interest bearing 1.97 % 2.28 % 2.35 % 2.42 % 2.94 % 3.28 %
Securities sold under agreements to repurchase 0.64 % 0.98 % 1.33 % 1.30 % 1.98 % 3.36 %
FHLB advances and other borrowings 2.71 % 3.24 % 3.40 % 3.20 % 3.99 % 4.61 %
Subordinated debt 4.80 % 5.99 % 5.65 % 5.46 % 7.11 % 7.20 %
Total deposits and interest-bearing liabilities 2.01 % 2.35 % 2.44 % 2.48 % 3.04 % 3.43 %

Capital ratios (9):
Stockholders` equity to total assets 12.8 % 13.2 % 11.8 % 11.7 % 12.3 % 12.3 %
Leverage 9.7 % 10.5 % 8.7 % 8.5 % 8.5 % 8.7 %
Tier one risk-based 11.8 % 12.1 % 9.8 % 9.3 % 9.5 % 9.6 %
Total risk-based 13.3 % 13.5 % 11.2 % 10.3 % 10.4 % 10.5 %
Tangible common equity to tangible assets 6.0 % 6.1 % 6.2 % 5.8 % 6.0 % 5.8 %

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA - UNAUDITED

March Dec Sept June March Dec
(dollars in thousands, except per share data) 2009 2008 2008 2008 2008 2007

Per share data:
Earnings - basic $ 0.03 0.33 0.38 0.36 0.27 0.35
Earnings - diluted $ 0.03 0.31 0.36 0.34 0.26 0.33
Book value at quarter end (8) $ 26.25 26.39 21.63 21.33 21.22 20.95

Weighted avg. shares - basic 23,510,994 23,491,356 23,174,998 22,356,667 22,331,398 17,753,661
Weighted avg. shares - diluted 24,814,408 24,739,044 24,439,642 23,629,234 23,484,754 19,110,851
Common shares outstanding 24,060,703 23,762,124 23,699,790 22,587,564 22,467,263 22,264,817

Investor information:
Closing sales price $ 23.71 29.81 30.80 20.09 25.60 25.42
High sales price during quarter $ 29.90 32.00 36.57 29.29 26.75 30.93
Low sales price during quarter $ 13.32 22.01 19.30 20.05 20.82 24.85

Other information:
Gains on sale of loans and loan participations sold:
Mortgage loan sales:
Gross loans sold $ 192,932 72,097 71,903 79,693 59,757 40,273
Gross fees (10) $ 2,656 1,464 1,293 1,364 1,114 750
Gross fees as a percentage of mortgage loans originated 1.38 % 2.03 % 1.80 % 1.71 % 1.86 % 1.86 %
Commercial loans sold $ - - 695 8 4 8
Gains on sales of investment securities, net $ 4,346 - - - 1 16
Brokerage account assets, at quarter-end (11) $ 671,000 686,000 848,000 826,000 859,000 878,000
Trust account assets, at quarter-end $ 544,000 588,000 537,000 527,000 493,000 464,000
Floating rate loans as a percentage of loans (12) 40.0 % 41.4 % 41.4 % 44.0 % 41.4 % 41.8 %
Balance of commercial loan participations sold to other banks and serviced by Pinnacle, at quarter end $ 122,123 125,429 136,069 125,308 113,701 110,352
Core deposits to total funding (13) 46.7 % 50.5 % 50.9 % 52.3 % 57.6 % 58.2 %
Risk-weighted assets $ 3,825,590 3,705,606 3,493,361 3,353,142 3,181,612 3,083,215
Total assets per full-time equivalent employee $ 6,728 6,614 5,999 5,828 5,669 5,415
Annualized revenues per full-time equivalent employee $ 226.1 209.9 214.4 209.8 209.5 161.8
Number of employees (full-time equivalent) 736.0 719.0 723.0 704.5 686.0 702.0
Associate retention rate (14) 92.1 % 88.9 % 90.8 % 90.9 % 92.0 % 89.7 %

Selected economic information (in thousands) (15):
Nashville MSA nonfarm employment 733.0 755.4 760.4 758.1 762.0 778.6
Knoxville MSA nonfarm employment 324.5 332.0 335.7 335.7 335.2 338.7
Nashville MSA unemployment 8.4 % 6.5 % 6.0 % 5.8 % 4.9 % 4.2 %
Knoxville MSA unemployment 7.9 % 6.4 % 5.6 % 5.6 % 4.7 % 4.0 %
Nashville residential median home price $ 161.0 163.8 169.9 183.6 178.4 187.9
Nashville inventory of residential homes for sale 14.0 12.9 15.1 15.8 15.1 13.4

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY AND YEAR-TO-DATE FINANCIAL DATA - UNAUDITED

As of March 31, As of December 31,
(dollars in thousands, except per share data) 2009 2008
Reconciliation of certain financial measures:
Tangible assets:
Total assets $ 4,952,151 $ 4,754,075
Less: Goodwill (244,120 ) (244,161 )
Core deposit and other intangibles (16,113 ) (16,871 )
Net tangible assets $ 4,691,918 $ 4,493,043

Tangible common equity:
Total stockholders` equity $ 631,646 $ 627,298
Less: Preferred stock (88,608 ) (88,349 )
Goodwill (244,120 ) (244,161 )
Core deposit and other intangibles (16,113 ) (16,871 )
Net tangible common equity $ 282,805 $ 277,918

Tangible common equity divided by tangible assets 6.03 % 6.19 %

Tangible common equity per common share $ 11.75 $ 11.70

For the three months ended March 31,
(dollars in thousands) 2009 2008

Average tangible assets:
Total average assets $ 4,869,390 $ 3,774,042
Less: Average intangible assets (260,729 ) (258,807 )
Net average tangible assets $ 4,608,661 $ 3,515,235

Average tangible equity:
Total average stockholders` equity $ 634,481 $ 474,439
Less: Average intangible assets (260,729 ) (258,807 )
Net average tangible stockholders` equity $ 373,752 $ 215,632

Net income available to common stockholders $ 643 $ 6,065

Return on average tangible assets (annualized) 0.06 % 0.69 %

Return on average tangible stockholders` equity (annualized) 0.70 % 11.31 %

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA - UNAUDITED

1. Ratios are presented on an annualized basis.
2. Net interest margin is the result of net interest income on a tax equivalent
basis divided by average interest earning assets.
3. Total revenue is equal to the sum of net interest income and noninterest
income.
4. Efficiency ratios are calculated by dividing noninterest expense by the sum of
net interest income and noninterest income.
5. Average risk ratings are based on an internal loan review system which assigns
a numeric value of 1 to 10 to all loans to commercial entities based on their
underlying risk characteristics as of the end of each quarter. A "1" risk rating
is assigned to credits that exhibit Excellent risk characteristics, "2" exhibit
Very Good risk characteristics, "3" Good, "4" Satisfactory, "5" Acceptable or
Average, "6" Watch List, "7" Criticized, "8" Classified or Substandard, "9"
Doubtful and "10" Loss (which are charged-off immediately). Additionally, loans
rated "8" or worse are considered potential problem loans. Potential problem loans
do not include nonperforming loans. Generally, consumer loans are not subjected to
internal risk ratings.
6. Annualized net loan charge-offs to average loans ratios are computed by
annualizing year-to-date net loan charge-offs and dividing the result by average
loans for the year-to-date period.
7. Computed by dividing the balance of all loans by the number of loan accounts as
of the end of each quarter.
8. Book value per share computed by dividing total stockholders` equity by common
shares outstanding
9. Capital ratios are for Pinnacle Financial Partners, Inc. and are defined as
follows:
Equity to total assets - End of period total stockholders` equity as a percentage
of end of period assets.
Leverage - Tier one capital (pursuant to risk-based capital guidelines) as a
percentage of adjusted average assets.
Tier one risk-based - Tier one capital (pursuant to risk-based capital guidelines)
as a percentage of total risk-weighted assets.
Total risk-based - Total capital (pursuant to risk-based capital guidelines) as a
percentage of total risk-weighted assets.
10. Amounts are included in the statement of income in "Gains on the sale of loans
and loan participations sold", net of commissions paid on such amounts.
11. At fair value, based on information obtained from Pinnacle`s third party
broker/dealer for non-FDIC insured financial products and services.
12. Floating rate loans are those loans that are eligible for repricing on a daily
basis subject to changes in Pinnacle`s prime lending rate or other factors.
13. Core deposits include all transaction deposit accounts, money market and
savings accounts and all certificates of deposit issued in a denomination of less
than $100,000. The ratio noted above represents total core deposits divided by
total funding, which includes total deposits, FHLB advances, securities sold under
agreements to repurchase, subordinated indebtedness and all other interest-bearing
liabilities.
14. Associate retention rate is computed by dividing the number of associates
employed at quarter-end less the number of associates that have resigned in the
last 12 months by the number of associates employed at quarter-end.
15. Employment and unemployment data is from the US Dept. of Labor Bureau of Labor
Statistics. Labor force data is not seasonally adjusted. The most recent quarter
data presented is as of the most recent month that data is available as of the
release date. The Nashville home data is from the Greater Nashville Association of
Realtors.
16. Brokered deposits do not include balances under the Certificate of Deposit
Account Registry Service (CDARS).

Pinnacle Financial Partners Inc.
Media Contact:
Sue Atkinson, 615-320-7532
or
Financial Contact:
Harold Carpenter, 615-744-3742
www.pnfp.com

Copyright Business Wire 2009