Pinnacle Financial Partners is one of the nation’s Best Banks to Work For, having earned the No. 13 spot on the annual list compiled by American Banker magazine and Best Companies Group. That’s up three spots from 2018 and represents the firm’s seventh appearance on the list.
Pinnacle stands out as one of the top three largest banks on the list, able to compete with the culture and more intimate feel of much smaller firms, even with a four-state footprint, 115 offices, 2,400 associates and $26.5 billion in assets. The nearest comparable bank comes in 70 spots below at No. 83.
“We’re not a top-notch workplace despite our size. We’re bigger and more successful because we’re a top-notch workplace,” said Terry Turner, Pinnacle’s president and CEO. “Pinnacle exists right in the sweet spot of working like a much smaller bank while operating at a scale that others can only reach by turning into bureaucratic, impersonal behemoths. Our associates love working here and our clients love banking here because we haven’t changed our central philosophy since the day we opened our doors in 2000: People matter, and everyone deserves a great place to work and do business.”
That philosophy is the primary reason Pinnacle has been so successful at executing its business model, which is to attract clients and gain market share by hiring the best financial professionals away from large regional and national banks. During the two-year period ending July 31, 2019, Pinnacle hired 189 revenue producers in all of its markets with an average of more than 20 years’ experience.
While Pinnacle has won numerous national awards and local honors in its home state of Tennessee, the firm has recently also racked up awards in the Carolinas. In May, Pinnacle was named the No. 5 Top Workplace in all of South Carolina by Greenville Business Magazine, Charleston Business and Columbia Business Monthly. And then in June, the firm earned the No. 1 award for Best Place to Work in the extra-large category from the Triad Business Journal in North Carolina.
“I’m humbled by these awards, but the Triad award is particularly meaningful to me,” said Rick Callicutt, Pinnacle’s chairman in the Carolinas and Virginia. “These markets of High Point, Winston-Salem and Greensboro were most affected by the merger with Pinnacle two years ago. Associates here went through organizational change, systems conversions and more upheaval. And yet, just two years later, they love working here enough to propel us to the top spot across three cities.”
Read more of Callicutt’s thoughts on workplace culture and success at PNFP.com/CulturalDifference.
To be eligible for the Best Banks to Work For list, firms must have at least 50 employees working in the United States and be a commercial bank, thrift, savings or other chartered retail financial institution. Selection is a two-step process. First, participating banks are evaluated on their workplace practices, policies and demographics. Second, employees are surveyed to assess their experiences in and attitudes about the workplace. Combined scores determine the final ranking.
Best Companies Group manages the overall registration and survey process, as well as analyzing the data and determining final ranking. To learn more about the process and Best Banks to Work For program, click here.
Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2018 deposit data from the FDIC. Pinnacle earned a spot on FORTUNE’s 2019 list of the 100 Best Companies to Work For® in the U.S., its third consecutive appearance. American Banker recognized Pinnacle as one of America’s Best Banks to Work For seven years in a row.
The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $26.5 billion in assets as of June 30, 2019. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia.
Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com.