Profile: Pinnacle Financial Partners Inc (PNFP.OQ)
23 Jan 2015
Pinnacle Financial Partners, Inc. (Pinnacle), incorporated on February 28, 2000, is a bank holding company. Pinnacle operates through its wholly owned subsidiary, Pinnacle National Bank (Pinnacle National). Pinnacle National is a commercial bank. Pinnacle National provides a range of banking services, including investment, mortgage, and insurance services, and wealth management services, in its primary market areas of the Nashville-Davidson-Murfreesboro-Franklin, Tennessee and Knoxville, Tennessee Metropolitan Statistical Areas. The Bank operates as a community bank primarily in the urban markets. As an urban community bank, Pinnacle Financial provides the personalized service associated with small community banks, while seeking to offer products and services, such as investments and treasury management. Lending Services
The Company offers a range of lending products, including commercial, real estate and consumer loans to individuals and small-to medium-sized businesses and professional entities. Pinnacle National’s commercial loans are made to small- to medium-sized businesses. Pinnacle National also makes a range of commercial real estate loans, including both investment properties and business loans secured by real estate. Pinnacle National also makes a range of loans to individuals for personal, family, investment and household purposes, including secured and unsecured installment and term loans, residential first mortgage loans, home equity loans and home equity lines of credit. During 2012, Pinnacle National also began offering auto dealer finance services to expand its product offering to automobile dealers and their customers. It also began offering Pinnacle-branded consumer credit cards to select clients of its bank.
Pinnacle National has investments primarily in obligations of the United States Government, obligations guaranteed as to principal and interest by the United States Government and other securities. As of December 31, 201, included in securities were the investments with unrealized losses, which includes United States Government agency securities, Mortgage-backed securities and State and municipal securities.
Pinnacle National focuses to establish a base of core deposits, including savings, checking, interest-bearing checking, money market and certificate of deposit accounts. The primary sources of deposits are residents and businesses located in the Nashville and Knoxville MSAs. Pinnacle National also offers its targeted commercial clients an array of treasury management services, as well as remote deposit services, which allow electronic deposits to be made from the client’s place of business. As of December 31, 2011, it had no brokered deposits.
Investment, Trust and Insurance Services
Pinnacle National contracts with Raymond James Financial Services, Inc. (RJFS), a registered broker-dealer and investment adviser, to offer and sell various securities and other financial products to the public from Pinnacle National’s locations. Pinnacle National’s range of investment products includes mutual funds, fixed annuities, variable annuities, stocks, money market instruments, financial planning, United States treasury securities, asset management accounts, bonds and listed options. Pinnacle National also maintains a trust department, which provides fiduciary and investment management services for individual and commercial clients. Account types include personal trust, endowments, foundations, individual retirement accounts, pensions and custody. Pinnacle Advisory Services, Inc., a registered investment advisor, provides investment advisory services to its clients. In addition, Miller Loughry Beach Insurance Services, Inc., an insurance agency subsidiary of Pinnacle National, provides insurance products, particularly in the property and casualty area, to its clients.
Other Banking Services
Pinnacle National offers an array of convenience-centered products and services, including around-the-clock telephone and Internet banking, debit cards, direct deposit and cash management services for small- to medium-sized businesses. In addition, Pinnacle National is associated with a nationwide network of automated teller machines of other financial institutions that its clients are able to use throughout Tennessee and other regions.
Pinnacle Financial Partners Inc
Suite 900, 150 Third Avenue Sout
NASHVILLE TN 37201