Profile: Pinnacle Financial Partners Inc (PNFP.OQ)
27 Feb 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.
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.
Pinnacle Bank has investments primarily in United States agency securities, mortgage-backed securities, and state and municipal securities. At December 31, 2013, the Company’s investment portfolio, consisting primarily of Federal agency bonds, state and municipal securities and mortgage-backed securities, amounted to $733.3 million and $707.2 million.
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.
Investment, Trust and Insurance Services
Pinnacle Bank offers, through RJFS, non-FDIC insured investment products in order to assist Pinnacle Bank's clients in achieving their financial objectives consistent with their risk tolerances. 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