Pinnacle Financial Partners has released its 2020 Annual Report, summing up the firm’s efforts to help clients, associates, shareholders and the communities it serves navigate through the challenges of 2020, as well as the results achieved for all stakeholders. The report illustrates the close relationship between Pinnacle’s well-known and nationally recognized internal culture, its business model and its philosophy of doing the right thing by showing how they worked in concert to respond to the various crises of the year.
In their message to shareholders, Pinnacle President and CEO Terry Turner and Chairman Rob McCabe said:
We’ve always believed that good decisions for people are also good decisions for business. 2020 was the ultimate test of that philosophy. How did we perform? In my opinion, we aced it. How did we do it in the face of an economic crisis spurred by the COVID-19 pandemic? How did our associates pull so many wins out of one of the most challenging years our country has faced? The same way we’ve built the firm since 2000. Focus on people. Make personal connections. Do the right thing.
Take all of that together, measure it against our people-first philosophy and examine the results: We survived, we thrived, and we helped our clients do the same. This isn’t the finish line, but we feel we’re ahead in the final stretch. And when COVID is in the rearview mirror, we feel Pinnacle will be in the pole position for what comes next. We’re already back on offense, aggressively going after more market share and more of the best bankers in our markets.
The 2020 Annual Report includes a complete timeline of Pinnacle’s 2020 response, accounting for activities related to the pandemic, the related economic downturn, nationwide calls for racial justice and the tornado and bombing in Nashville, TN, Pinnacle’s home city.
Also included is the 2020 Corporate Social Responsibility Report, which catalogues Pinnacle’s work and many accomplishments in its fair treatment of associates, community giving, responsible governance, diversity and inclusion and many other areas. Highlights include:
- $914.3 million in investments, lending and grants for low- to moderate-income housing, small business assistance and minority-owned institutions
- 27,000 viewers for virtual events on pandemic-related topics like the Paycheck Protection Program, FDIC insurance, mortgage help and more
- 21,008 associate volunteer hours
The full 2020 Annual Report, message to shareholders, financial results, CSR Report and video interviews with Turner are available at annualreport.PNFP.com.
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 2020 deposit data from the FDIC. Pinnacle earned a spot on the 2020 list of 100 Best Companies to Work For® in the U.S., its fourth consecutive appearance. American Banker recognized Pinnacle as one of America’s Best Banks to Work For eight years in a row and No. 1 among banks with more than $10 billion in assets in 2020.
Pinnacle owns a 49 percent interest in Bankers Healthcare Group (BHG), which provides innovative, hassle-free financial solutions to healthcare practitioners and other licensed professionals. Great Place to Work and FORTUNE ranked BHG No. 1 on its 2020 list of Best Workplaces in New York State in the small/medium business category.
The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $34.9 billion in assets as of Dec. 31, 2020. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 12 primarily urban markets in Tennessee, the Carolinas, Virginia and Atlanta.
Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com.