Pinnacle Financial Partners, Inc. is an American

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

headquartered in

Nashville, Tennessee Nashville, often known as Music City, is the capital and List of municipalities in Tennessee, most populous city in the U.S. state of Tennessee. It is the county seat, seat of Davidson County, Tennessee, Davidson County in Middle Tennessee, locat ...

operating in

Tennessee Tennessee (, ), officially the State of Tennessee, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Kentucky to the north, Virginia to the northeast, North Carolina t ...

, as well as

North Carolina North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. stat ...

South Carolina South Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders North Carolina to the north and northeast, the Atlantic Ocean to the southeast, and Georgia (U.S. state), Georg ...

Virginia Virginia, officially the Commonwealth of Virginia, is a U.S. state, state in the Southeastern United States, Southeastern and Mid-Atlantic (United States), Mid-Atlantic regions of the United States between the East Coast of the United States ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...

, and

Alabama Alabama ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South, Deep Southern regions of the United States. It borders Tennessee to the north, Georgia (U.S. state), Georgia to the east, Florida and the Gu ...

History

The company was founded on February 20, 2000, by twelve Nashville businessmen who wished to create a locally-owned financial firm. In May 2002 the company went

public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociology, sociological concept of the ''Öf ...

on the

NASDAQ The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

with the symbol PNFP. Pinnacle gained naming rights for a new

skyscraper A skyscraper is a tall continuously habitable building having multiple floors. Most modern sources define skyscrapers as being at least or in height, though there is no universally accepted definition, other than being very tall high-rise bui ...

in Downtown Nashville,

The Pinnacle at Symphony Place The Pinnacle at Symphony Place is a 29-story, office and retail skyscraper located in Nashville, Tennessee, in the city's SoBro (South of Broadway) district. Located adjacent to the Schermerhorn Symphony Center, the building officially opened on ...

, and the company leased in the building, moving in during 2010.Pinnacle Financial Partners , Milestones
/ref> On January 22, 2017, Pinnacle announced it was acquiring BNC Bank of

High Point, North Carolina High Point is a city in the Piedmont Triad region of the United States, U.S. state of North Carolina. Most of the city is in Guilford County, North Carolina, Guilford County, with parts extending into Randolph County, North Carolina, Randolph, ...

, which had branches in

and

. The deal, worth $1.9 billion and completed June 16, 2017, gave Pinnacle operations in four states. Pinnacle Financial Partners currently (as of December 31, 2017) has approximately US$22.2 billion in assets and has 115 offices. In 2020, ''

Fortune Fortune may refer to: General * Fortuna or Fortune, the Roman goddess of luck * Luck * Wealth * Fate * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (19 ...

'' magazine ranked Pinnacle Financial Partners at number 14 on their Fortune List of the Top 100 Companies to Work For in 2020, based on an employee survey of satisfaction. As of December 31, 2022, Pinnacle Financial Partners operated 114 offices, including 48 in Tennessee, 37 in North Carolina, 23 in South Carolina, 10 in Virginia, 3 in Georgia and 2 in Alabama. On June 17, 2021, Pinnacle announced its headquarters would move to four floors of a 34-story tower in Nashville Yards, and that the bank's name would appear on top of the building.

Programs

Shared Equity Program

In 1996 the Housing Fund was created; they are a group which assists first time homebuyers in putting a down payment on their homes. On July 21, 2021, Pinnacle Financial Partners gave a $10 million investment towards their Shared Equity Program. This program provides low income individuals and families with the opportunities and means to buy their first home; by increasing homeownership to previously underserved and marginalized communities, there is a positive push towards increasing the accessibility and affordability of houses. The program is split into three parts: the homebuyers must be able to pay 1% of the price of the home, the program pays for 35%, and the loan from Pinnacle supplies the last 74%. As time goes on, the homeowners can steadily pay off the loan. This was somewhat modeled off of the concept of limited equity in order to build up the wealth for lower income people, allowing them to obtain access to opportunities that would result in an increase in wealth and prosperity. This program has many similarities to a typical

community land trust A community land trust or (CLT) is a nonprofit corporation that holds land on behalf of a place-based community, while serving as the long-term steward for affordable housing, community gardens, civic buildings, commercial spaces and other communi ...

References

External links

* Economy of the Southeastern United States Companies based in Nashville, Tennessee Banks based in Tennessee American companies established in 2000 Banks established in 2000 Companies listed on the Nasdaq 2000 establishments in Tennessee 2002 initial public offerings Companies in the S&P 400 {{US-bank-stub