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The $5.6 billion-asset companys fourth-quarter earnings rose 29% from a year earlier, to $15.3 million.
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Over the past year, Pinnacle has focused on shining a bigger spotlight on employees. Recently, for example, it produced and distributed videos showcasing the daily work of employees, such as the IT staff, whose contributions can be hard to measure.
October 26
Pinnacle Financial Partners posted strong fourth-quarter numbers thanks to loan growth centered around its Nashville and Knoxville markets in Tennessee.
Pinnacle, based in Nashville, reported a quarterly profit of $18.7 million, 22% higher than in the same period in 2013.
Loans increased 11% year over year, to $4.6 billion. "Rapid loan growth was the cornerstone for increased operating leverage and profitability for our firm," Chief Executive M. Terry Turner said in a press release this week.
Net interest income correlated with Pinnacle's loan growth, rising 11%, to $50.3 million. Pinnacle's net interest margin was 3.76%, up six basis points from the year before.
Noninterest income increased 11.6%, to $14.4 million. Increased wealth management volume and interchange revenues drove the increase, Pinnacle said.
Noninterest expenses rose 5%, to $34.3 million. That amount correlates closely to a $1.7 million increase in employee salaries and benefits.
Earnings per share were $0.53, on track with the average estimate of $0.531 among analysts polled by Bloomberg.
Pinnacle holds $6 billion in total assets.
