<\/p>\n
PNFP Reports Diluted EPS of $1.76, ROAA of 1.26% and ROATCE of 15.43% For 1Q23<\/b><\/p>\n
1Q23 annualized linked-quarter, end-of-period loans grew 17.3%, while deposits grew 13.9%<\/i><\/b><\/p>\n
| \n \n\u00a0<\/p>\n<\/td>\n | \n Balances at<\/b><\/p>\n<\/td>\n | \n Linked-Quarter<\/b><\/p>\n Annualized<\/b><\/p>\n % Change<\/b><\/p>\n<\/td>\n | \n Balances at<\/b><\/p>\n<\/td>\n | \n Year-over-Year<\/b><\/p>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n (dollars in thousands)<\/i><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2023<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \nLoans<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n30,297,871<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n29,041,605<\/p>\n<\/td>\n \n17.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n24,499,022<\/p>\n<\/td>\n \n23.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nLess: PPP loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,382<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,967<\/p>\n<\/td>\n \n(79.6<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157,180<\/p>\n<\/td>\n \n(95.9<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nLoans excluding PPP loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,291,489<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,033,638<\/p>\n<\/td>\n \n17.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,341,842<\/p>\n<\/td>\n \n24.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nSecurities and other interest-earning assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,080,769<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,123,259<\/p>\n<\/td>\n \n96.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,704,157<\/p>\n<\/td>\n \n(5.8<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nTotal interest-earning assets excluding PPP loans<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n40,372,258<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n37,156,897<\/p>\n<\/td>\n \n34.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n35,045,999<\/p>\n<\/td>\n \n15.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCore deposits:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNoninterest-bearing deposits<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,018,439<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,812,744<\/p>\n<\/td>\n \n(32.4<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,986,194<\/p>\n<\/td>\n \n(17.9<\/p>\n<\/td>\n \n)%<\/p>\n<\/td>\n<\/tr>\n \nInterest-bearing core deposits(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,035,672<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,488,333<\/p>\n<\/td>\n \n28.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,412,489<\/p>\n<\/td>\n \n18.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNoncore deposits and other funding(2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,865,003<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,743,562<\/p>\n<\/td>\n \n178.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,428,850<\/p>\n<\/td>\n \n100.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nTotal funding<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n38,919,114<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n36,044,639<\/p>\n<\/td>\n \n31.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n33,827,533<\/p>\n<\/td>\n \n15.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n (1):<\/sup><\/p>\n<\/td>\n \nInterest-bearing core deposits are interest-bearing deposits, money market accounts, time deposits less than $250,000 and reciprocating time and money market deposits issued through the IntraFi Network.<\/p>\n<\/td>\n<\/tr>\n (2):<\/sup><\/p>\n<\/td>\n \nNoncore deposits and other funding consists of time deposits greater than $250,000, securities sold under agreements to repurchase, public funds, brokered deposits, FHLB advances and subordinated debt.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n“We are pleased to report that end-of-period loans grew by $1.3 billion over last quarter and even more pleased that end-of-period deposits grew by $1.2 billion over the same period,” Turner said. “We continue to experience a shift in the mix of our deposit book and our funding costs continued to increase, which is unsurprising given the interest rate environment and the events of the last few weeks of the quarter. We believe our linked-quarter loan growth for the remainder of the year is likely to moderate to some extent based on slower loan demand as a result of macroeconomic factors and the fact that we have continued to tighten the credit box, particularly as it pertains to construction and commercial real estate lending.”<\/p>\n PRE-TAX, PRE-PROVISION NET REVENUE (PPNR) GROWTH:<\/b><\/p>\n \nPre-tax, pre-provision net revenues (PPNR) for the quarter ended March 31, 2023 were $190.0 million, an increase of 18.5 percent from the $160.3 million recognized in the quarter ended March 31, 2022.<\/p>\n \n\u00a0<\/p>\n<\/td>\n Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n (dollars in thousands)<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n % change<\/b><\/p>\n<\/td>\n<\/tr>\n \nRevenues:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet interest income<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n312,231<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n239,475<\/p>\n<\/td>\n \n30.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNoninterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n89,529<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,496<\/p>\n<\/td>\n \n(13.5<\/p>\n<\/td>\n \n) %<\/p>\n<\/td>\n<\/tr>\n \nTotal revenues<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n401,760<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n342,971<\/p>\n<\/td>\n \n17.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNoninterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n211,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n182,661<\/p>\n<\/td>\n \n15.9<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nPre-tax, pre-provision net revenue (PPNR)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n190,033<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n160,310<\/p>\n<\/td>\n \n18.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdjustments:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInvestment (gains) losses on sales of securities, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n61<\/p>\n<\/td>\n \nNM<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nORE expense (benefit)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105<\/p>\n<\/td>\n \nNM<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdjusted PPNR<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n190,132<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n160,476<\/p>\n<\/td>\n \n18.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n“Our net interest income was positively impacted by increased yields on earning assets offset by increased funding costs, resulting in a decline of $7.2 million between the first quarter of 2023 and fourth quarter of 2022,” said Harold R. Carpenter, Pinnacle’s chief financial officer. “Increases in fee income in the first quarter of 2023 compared to the fourth quarter of 2022 essentially offset the decrease in net interest income over that same time period. Most fee categories increased in the first quarter of 2023 as compared to the fourth quarter of 2022. The fee increase was primarily attributable to mortgage pipelines improving significantly during the quarter, the receipt of annual insurance contingency payments from carriers due to favorable claims experience and increased fees from our back-to-back interest rate swap program, which we use to facilitate derivative transactions for our clients. BHG revenues decreased $1.9 million between fourth quarter 2022 and first quarter 2023. Most of this decrease was attributable to increased reserves for probable incurred credit losses.<\/p>\n \n“Expenses increased by approximately $9.7 million linked-quarter. Salaries and employee benefits expense increased by $3.9 million linked-quarter though incentive costs were lower in the first quarter of 2023 than the last quarter of 2022 as during the quarter we accrued expense assuming a lower payout percentage would likely be achieved in 2023 than was the case in 2022 for the firm\u2019s annual cash bonus plan and we estimated that our performance would likely lead to a reduced number of shares being earned under our various performance-based equity awards. Compensation costs increased due to increased headcount and higher benefit costs which are traditionally higher in the first quarter due to the seasonality of payroll taxes and the firm\u2019s 401k match program. We will continue to monitor our expense burden in light of our anticipated revenue growth and adjust incentives and\/or reduce other expenses through either reduced hiring, deferral of anticipated projects or implementation of other cost saving measures as required.”<\/p>\n PROFITABILITY, LIQUIDITY AND SOUNDNESS:<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2023<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet interest margin<\/p>\n<\/td>\n \n3.40<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.60<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n2.89<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nEfficiency ratio<\/p>\n<\/td>\n \n52.70<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n50.29<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n53.26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nReturn on average assets<\/p>\n<\/td>\n \n1.26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.29<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.32<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nReturn on average tangible common equity (TCE)<\/p>\n<\/td>\n \n15.43<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.95<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.63<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n As of<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2023<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \nShareholders’ equity to total assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.4<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAverage loan to deposit ratio<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83.97<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83.10<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75.62<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nUninsured\/uncollateralized deposits to total deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33.23<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38.93<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41.98<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nTangible common equity to tangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nBook value per common share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n71.24<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n69.35<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n66.30<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTangible book value per common share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n46.75<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n44.74<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n41.65<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAnnualized net loan charge-offs to avg. loans (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.10<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.17<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.05<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNonperforming assets to total loans, ORE and other nonperforming assets (NPAs)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.15<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.14<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nClassified asset ratio (Pinnacle Bank) (2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.70<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.40<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.60<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAllowance for credit losses (ACL) to total loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.04<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.04<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.07<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n (1):<\/sup><\/p>\n<\/td>\n \nAnnualized net loan charge-offs to average loans ratios are computed by annualizing quarterly net loan charge-offs and dividing the result by average loans for the quarter.<\/p>\n<\/td>\n<\/tr>\n (2):<\/sup><\/p>\n<\/td>\n \nClassified assets as a percentage of Tier 1 capital plus allowance for credit losses.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n“Our net interest margin declined on a linked-quarter basis by approximately 20 basis points,” Carpenter said. “In addition to increased funding costs, contributing to the reduced net interest margin was the $1.7 billion increase in on-balance sheet liquidity, which we acquired during mid-March given the uncertainty in the broader banking industry. We intend to hold elevated levels of liquidity for the next few quarters.<\/p>\n \n“We believe our liquidity metrics are as strong as they have ever been. Our wholesale funding ratios are consistent quarter to quarter. We also experienced a meaningful reduction in our uninsured deposit base, as approximately $2.1 billion in deposits were added to a reciprocal deposit insurance funding network during March. Our investment securities portfolio, including both the held-to-maturity and available-for-sale portfolios, has performed very well for us in recent months. Our AOCI loss decreased, or improved, by $44.0 million this quarter, and we think our held-to-maturity loss when considered in relation to our tangible capital ratios compared favorably to most of our peers at March 31, 2023.<\/p>\n \n“Credit metrics remain consistent with prior quarter\u2019s results, and we continue to believe the loan portfolio remains healthy. Should a recession materialize as we believe is likely in 2023, we continue to believe we enter it from a position of strength with a great deal of confidence as to the financial health of many of our borrowers and their ability to weather what could be a more challenging economic environment.”<\/p>\n WEBCAST AND CONFERENCE CALL INFORMATION<\/b><\/p>\n \nPinnacle will host a webcast and conference call at 8:30 a.m. CT on April 18, 2023, to discuss first quarter 2023 results and other matters. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle’s website at www.pnfp.com<\/a>.<\/p>\n \nFor those unable to participate in the webcast, it will be archived on the investor relations page of Pinnacle’s website at www.pnfp.com<\/a> for 90 days following the presentation.<\/p>\n \nPinnacle 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. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA according to 2022 deposit data from the FDIC, is listed by Forbes among the top 25 banks in the nation and earned a spot on the 2022 list of 100 Best Companies to Work For\u00ae in the U.S., its sixth consecutive appearance. Pinnacle was also listed in Fortune magazine as the second best company to work for in the U.S. for women. American Banker recognized Pinnacle as one of America\u2019s Best Banks to Work For nine years in a row and No. 1 among banks with more than $11 billion in assets in 2021.<\/p>\n \nPinnacle owns a 49 percent interest in Bankers Healthcare Group (BHG), which provides innovative, hassle-free financial solutions to healthcare practitioners and other professionals. Great Place to Work and FORTUNE ranked BHG No. 4 on its 2021 list of Best Workplaces in New York State in the small\/medium business category.<\/p>\n \nThe firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $45.1 billion in assets as of March 31, 2023. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets and their surrounding communities.<\/p>\n \nAdditional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nAll statements, other than statements of historical fact, included in this press release, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “expect,” “anticipate,” “intend,” “may,” “should,” “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 statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of the negative impact of inflationary pressures on our and BHG’s customers and their businesses, resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank’s inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) the sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs; (iv) adverse conditions in the national or local economies including in Pinnacle Financial’s markets throughout Tennessee, North Carolina, South Carolina, Georgia, Alabama, Virginia and Kentucky, particularly in commercial and residential real estate markets; (v) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities’, loan portfolio; (vi) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits or uncertainty exists in the financial services sector; (vii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (viii) effectiveness of Pinnacle Financial’s asset management activities in improving, resolving or liquidating lower-quality assets; (ix) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial\u2019s results, including as a result of the negative impact to net interest margin from rising deposit and other funding costs; (x) the results of regulatory examinations; (xi) Pinnacle Financial’s ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiii) BHG’s ability to profitably grow its business and successfully execute on its business plans; (xiv) risks of expansion into new geographic or product markets; (xv) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xvi) the ineffectiveness of Pinnacle Bank’s hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xvii) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xviii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xix) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank’s level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xx) approval of the declaration of any dividend by Pinnacle Financial’s board of directors; (xxi) the vulnerability of Pinnacle Bank’s network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxii) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank’s corporate and consumer clients; (xxiii) the risks associated with Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Bank); (xxiv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxv) fluctuations in the valuations of Pinnacle Financial’s equity investments and the ultimate success of such investments; (xxvi) the availability of and access to capital; (xxvii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and\/or other negative effects) from current or future litigation, regulatory examinations or other legal and\/or regulatory actions; and (xxviii) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial’s Annual Report on Form 10-K for the year ended December 31, 2022, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC’s website at http:\/\/www.sec.gov<\/a>. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.<\/p>\n Non-GAAP Financial Matters<\/b><\/p>\n \nThis release contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities and other matters for the accounting periods presented. This release also includes non-GAAP financial measures which exclude the impact of loans originated and forgiven and repaid under the PPP. This release may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial’s acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial’s Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.<\/p>\n \nPinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial’s results to the results of other companies. Pinnacle Financial’s management utilizes this non-GAAP financial information to compare Pinnacle Financial’s operating performance for 2023 versus certain periods in 2022 and to internally prepared projections.<\/p>\n PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED BALANCE SHEETS \u2013 UNAUDITED<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n (dollars in thousands, except for share and per share data)<\/i><\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2023<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n ASSETS<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and noninterest-bearing due from banks<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n209,255<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n268,649<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n187,093<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRestricted cash<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,049<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,447<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,680<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest-bearing due from banks<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,597,172<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n877,286<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,103,008<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,819,476<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,177,382<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,319,781<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities purchased with agreement to resell<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n509,872<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n513,276<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,332,753<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities available-for-sale, at fair value<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,825,203<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,558,870<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,569,723<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities held-to-maturity (fair value of $2.8 billion, $2.7 billion, and $2.4 billion, net of allowance for credit losses of $1.9 million, $1.6 million, and $1.1 million at March 31, 2023, Dec. 31, 2022, and March 31, 2022, respectively)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,053,628<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,079,050<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,566,386<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConsumer loans held-for-sale<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58,758<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42,237<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n67,224<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommercial loans held-for-sale<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,087<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,093<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,383<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,297,871<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,041,605<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,499,022<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess allowance for credit losses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(313,841<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(300,665<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(261,618<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLoans, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,984,030<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,740,940<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,237,404<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPremises and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n354,713<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n327,885<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n296,779<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEquity method investment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n438,303<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n443,185<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n382,256<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued interest receivable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n143,965<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n161,182<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,846,973<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,846,973<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,850,951<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCore deposits and other intangible assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,761<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,555<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,997<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther real estate owned<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,952<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,237<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,021,016<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,015,441<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,606,357<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n45,119,587<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n41,970,021<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n39,400,378<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n LIABILITIES AND SHAREHOLDERS’ EQUITY<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeposits:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNoninterest-bearing<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,018,439<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,812,744<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,986,194<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest-bearing<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,944,353<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,884,605<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,838,659<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSavings and money market accounts<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,136,850<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,774,534<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,416,101<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTime<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,078,911<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,489,355<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,054,860<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,178,553<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,961,238<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,295,814<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities sold under agreements to repurchase<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n149,777<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n194,910<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n219,530<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFederal Home Loan Bank advances<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,166,508<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n464,436<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n888,870<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSubordinated debt and other borrowings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n424,276<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n424,055<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n423,319<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued interest payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,728<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,478<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,575<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n484,617<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n386,512<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n283,320<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39,435,459<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,450,629<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,119,428<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock, no par value, 10.0 million shares authorized; 225,000 shares non-cumulative perpetual preferred stock, Series B, liquidation preference $225.0 million, issued and outstanding at March 31, 2023, Dec. 31, 2022, and March 31, 2022, respectively<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock, par value $1.00; 180.0 million shares authorized; 76.7 million, 76.5 million and 76.4 million shares issued and outstanding at March 31, 2023, Dec. 31, 2022, and March 31, 2022, respectively<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,739<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,454<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n76,377<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,079,020<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,074,867<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,045,914<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,458,006<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,341,706<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,972,686<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccumulated other comprehensive loss, net of taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(146,763<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(190,761<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(31,153<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTotal shareholders’ equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,684,128<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,519,392<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,280,950<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities and shareholders’ equity<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n45,119,587<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n41,970,021<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n39,400,378<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nThis information is preliminary and based on company data available at the time of the presentation.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF INCOME \u2013 UNAUDITED<\/b><\/p>\n<\/td>\n<\/tr>\n (dollars in thousands, except for share and per share data)<\/i><\/b><\/p>\n<\/td>\n Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n March 31, December 31, March 31, Interest income:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoans, including fees<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n431,902<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n387,328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n227,047<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTaxable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,358<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,086<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,048<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTax-exempt<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,770<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,446<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFederal funds sold and other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20,977<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,994<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,076<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal interest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n506,039<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n451,178<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n258,617<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Interest expense:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n176,589<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n120,499<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,250<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities sold under agreements to repurchase<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n595<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n474<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFHLB advances and other borrowings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,624<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,745<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,836<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal interest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n193,808<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n131,718<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,142<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet interest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n312,231<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n319,460<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n239,475<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Provision for credit losses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,767<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,805<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net interest income after provision for credit losses<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n293,464<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n294,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n236,755<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Noninterest income:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nService charges on deposit accounts<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,718<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,123<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,030<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInvestment services<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,595<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,765<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,691<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInsurance sales commissions<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,464<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,668<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,036<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGains (losses) on mortgage loans sold, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,053<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(65<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,066<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInvestment losses on sales, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(61<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTrust fees<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,429<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,767<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,973<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome from equity method investment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,079<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,005<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther noninterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,191<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,058<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,106<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal noninterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n89,529<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n82,321<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,496<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Noninterest expense:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSalaries and employee benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n135,708<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n131,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n121,852<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEquipment and occupancy<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,353<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,329<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther real estate, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n99<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n179<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nMarketing and other business development<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,942<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,579<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,777<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPostage and supplies<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,819<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,682<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,371<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAmortization of intangibles<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,794<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,937<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,871<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther noninterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,012<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,539<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,149<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal noninterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n211,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n202,047<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n182,661<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Income before income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n171,266<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n174,929<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157,590<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,995<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,082<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,480<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net income<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,847<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n129,110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock dividends<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Net income available to common shareholders<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n133,473<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n134,049<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n125,312<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Per share information:<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic net income per common share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.76<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.77<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.66<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted net income per common share<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.76<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.76<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.65<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average common shares outstanding:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 75,921,282<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 75,771,828<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 75,654,986<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 76,042,328<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 76,198,411<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 75,930,372<\/i><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nThis information is preliminary and based on company data available at the time of the presentation.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n (dollars and shares in thousands)<\/i><\/p>\n<\/td>\n Preferred<\/b><\/p>\n Stock<\/b><\/p>\n Amount<\/b><\/p>\n<\/td>\n Common Stock<\/b><\/p>\n<\/td>\n Additional Paid-in Capital<\/b><\/p>\n<\/td>\n Retained Earnings<\/b><\/p>\n<\/td>\n Accumulated Other Comp. Income (Loss), net<\/b><\/p>\n<\/td>\n Total Shareholders’ Equity<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Shares<\/b><\/p>\n<\/td>\n Amounts<\/b><\/p>\n<\/td>\n<\/tr>\n Balance at December 31, 2021<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n76,143<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n76,143<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,045,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,864,350<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n107,186<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,310,607<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nExercise of employee common stock options & related tax benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n124<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n130<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred dividends paid ($16.88 per share)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCommon dividends paid ($0.22 per share)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(16,976<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(16,976<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIssuance of restricted common shares, net of forfeitures<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n158<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n158<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(158<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRestricted shares withheld for taxes & related tax benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n(35<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(35<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,736<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,771<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIssuance of common stock pursuant to restricted stock unit (RSU) and performance stock unit (PSU) agreements, net of shares withheld for taxes & related tax benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,566<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,461<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCompensation expense for restricted shares & performance stock units<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,448<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,448<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n129,110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n129,110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther comprehensive loss<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(138,339<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(138,339<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Balance at March 31, 2022<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n76,377<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n76,377<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,045,914<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,972,686<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(31,153<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,280,950<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Balance at December 31, 2022<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n76,454<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n76,454<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,074,867<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,341,706<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(190,761<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,519,392<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nExercise of employee common stock options & related tax benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n40<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n920<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n960<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred dividends paid ($16.88 per share)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCommon dividends paid ($0.22 per share)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,173<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17,173<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIssuance of restricted common shares, net of forfeitures<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n193<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n193<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(193<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRestricted shares withheld for taxes & related tax benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n(41<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(41<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,035<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,076<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nIssuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes & related tax benefits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n93<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n93<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,738<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,645<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nCompensation expense for restricted shares & performance stock units<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,199<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,199<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther comprehensive gain<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,998<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n43,998<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Balance at March 31, 2023<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n217,126<\/p>\n<\/td>\n \n76,739<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n76,739<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n3,079,020<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,458,006<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(146,763<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,684,128<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n SELECTED QUARTERLY FINANCIAL DATA \u2013 UNAUDITED<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n (dollars in thousands)<\/i><\/b><\/p>\n<\/td>\n March<\/b><\/p>\n<\/td>\n December<\/b><\/p>\n<\/td>\n September<\/b><\/p>\n<\/td>\n June<\/b><\/p>\n<\/td>\n March<\/b><\/p>\n<\/td>\n December<\/b><\/p>\n<\/td>\n<\/tr>\n 2023<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n<\/tr>\n Balance sheet data, at quarter end:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommercial and industrial loans<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,716,945<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,233,395<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,738,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,244,708<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,213,204<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,703,428<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommercial real estate – owner occupied loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,686,796<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,587,257<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,426,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,243,018<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,124,275<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,048,822<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommercial real estate – investment loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,556,484<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,277,454<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,122,127<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,909,598<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,707,761<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,607,048<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommercial real estate – multifamily and other loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,331,249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,265,165<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,042,854<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n951,998<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n718,822<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n614,656<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConsumer real estate – mortgage loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,531,285<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,435,046<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,271,913<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,047,051<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,813,252<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,680,684<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConstruction and land development loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,909,024<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,679,498<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,548,970<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,386,866<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,277,029<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,903,017<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConsumer and other loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n559,706<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n555,823<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n550,565<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n498,757<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n487,499<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n485,489<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPaycheck protection program loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,382<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,723<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n51,100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157,180<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n371,118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal loans<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,297,871<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n29,041,605<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,711,694<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,333,096<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,499,022<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,414,262<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAllowance for credit losses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(313,841<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(300,665<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(288,088<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(272,483<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(261,618<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(263,233<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nSecurities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,878,831<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,637,920<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,481,018<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,553,893<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,136,109<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,070,152<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n45,119,587<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,970,021<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,000,118<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40,121,292<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39,400,378<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,469,399<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNoninterest-bearing deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,018,439<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,812,744<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,567,873<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,058,198<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,986,194<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,461,071<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,178,553<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,961,238<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,690,049<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,595,303<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,295,814<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,304,533<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities sold under agreements to repurchase<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n149,777<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n194,910<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n190,554<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n199,585<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n219,530<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n152,559<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFHLB advances<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,166,508<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n464,436<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n889,248<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,289,059<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n888,870<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n888,681<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSubordinated debt and other borrowings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n424,276<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n424,055<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n423,834<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n423,614<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n423,319<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n423,172<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal shareholders’ equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,684,128<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,519,392<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,342,112<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,315,239<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,280,950<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,310,607<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Balance sheet data, quarterly averages:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal loans<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n29,633,640<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,402,197<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,021,031<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,397,389<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,848,533<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,225,735<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,765,126<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,537,262<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,542,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,446,774<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,143,664<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,813,636<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFederal funds sold and other<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,100,757<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,828,588<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,600,978<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,837,679<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,799,946<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,356,113<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal earning assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,499,523<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,768,047<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,164,035<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,681,842<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,792,143<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,395,484<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n42,983,854<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,324,251<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40,464,649<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,780,786<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,637,221<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,132,078<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNoninterest-bearing deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,332,317<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,486,233<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,926,069<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,803,439<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,478,403<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,240,393<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,291,775<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,177,281<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,108,415<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,484,100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,538,985<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,034,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSecurities sold under agreements to repurchase<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n219,082<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n199,610<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n215,646<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n216,846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n179,869<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n141,781<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nFHLB advances<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,130,356<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n701,813<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,010,865<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,095,531<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n888,746<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n888,559<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSubordinated debt and other borrowings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n426,564<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n427,503<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n426,267<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n427,191<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n441,755<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n484,389<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal shareholders’ equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,605,604<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,433,274<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,403,244<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,316,219<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,331,405<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,262,586<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Statement of operations data, for the three months ended:<\/b><\/p>\n<\/td>\n<\/tr>\n \nInterest income<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n506,039<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n451,178<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n371,764<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n292,376<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n258,617<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n259,193<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n193,808<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n131,718<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65,980<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19,142<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20,430<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet interest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n312,231<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n319,460<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n305,784<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n264,574<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n239,475<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n238,763<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvision for credit losses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,767<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,805<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27,493<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,907<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,720<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,675<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet interest income after provision for credit losses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n293,464<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n294,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n278,291<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n251,667<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n236,755<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n236,088<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNoninterest income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n89,529<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n82,321<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n104,805<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n125,502<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n103,496<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100,723<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNoninterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n211,727<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n202,047<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n199,253<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n196,038<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n182,661<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n170,417<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome before income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n171,266<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n174,929<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n183,843<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n181,131<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n157,590<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n166,394<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33,995<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,082<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,185<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,004<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,480<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32,866<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,271<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n137,847<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n148,658<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n145,127<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n129,110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n133,528<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock dividends<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(3,798<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet income available to common shareholders<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n133,473<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n134,049<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n144,860<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n141,329<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n125,312<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n129,730<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Profitability and other ratios:<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nReturn on avg. assets (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.29<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.42<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.46<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.32<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.39<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nReturn on avg. equity (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.66<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n9.79<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n10.64<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n10.66<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n9.53<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n9.78<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nReturn on avg. common equity (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10.05<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n10.20<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n11.08<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n11.12<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n9.94<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n10.20<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nReturn on avg. tangible common equity (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.43<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.95<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n17.40<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n17.62<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.63<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n16.13<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nCommon stock dividend payout ratio (14)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.07<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n12.26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n12.34<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n12.63<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n12.94<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n10.65<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNet interest margin (2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.40<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.60<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.47<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n3.17<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n2.89<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n2.96<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNoninterest income to total revenue (3)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22.28<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n20.49<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n25.53<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n32.17<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n30.18<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n29.67<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNoninterest income to avg. assets (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.84<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n0.79<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.03<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.30<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.09<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.08<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNoninterest exp. to avg. assets (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.00<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.94<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.95<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n2.03<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.92<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n1.82<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nEfficiency ratio (4)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n52.70<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n50.29<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n48.53<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n50.26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n53.26<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n50.20<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAvg. loans to avg. deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83.97<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n83.10<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n81.61<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n80.67<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n75.62<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n77.33<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nSecurities to total assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.25<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.82<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.81<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n16.34<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.57<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n15.78<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nThis information is preliminary and based on company data available at the time of the presentation.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n |