Pinnacle Financial Partners, Inc. functions as a bank holding company, overseeing Pinnacle Bank, which delivers a comprehensive range of banking solutions and ...
Pinnacle Financial Partners, Inc. (PNFP) is a financial holding company headquartered in Nashville, Tennessee, operating primarily through its subsidiary, Pinnacle Bank. Founded on February 20, 2000, by a group of twelve Nashville businessmen including M. Terry Turner, Rob McCabe, and Hugh Queener, the company has grown into a significant regional ...Pinnacle Financial Partners, Inc. (PNFP) is a financial holding company headquartered in Nashville, Tennessee, operating primarily through its subsidiary, Pinnacle Bank. Founded on February 20, 2000, by a group of twelve Nashville businessmen including M. Terry Turner, Rob McCabe, and Hugh Queener, the company has grown into a significant regional financial services firm. It offers a wide array of banking services to individuals, small to medium-sized businesses, and professional organizations, including deposit accounts, commercial and consumer lending, treasury management, and digital banking solutions. The company also provides investment and wealth management services through its securities and brokerage divisions, fiduciary and investment management for trusts, endowments, and retirement accounts, and operates an insurance agency focused on property and casualty coverage. Additionally, it offers advisory services for mergers and acquisitions and specialized middle-market transactions. As of December 31, 2020, Pinnacle operated 114 offices across Tennessee, North Carolina, South Carolina, Virginia, and Georgia. The company has received recognition as a great workplace and has demonstrated strong financial performance, with a market capitalization of approximately $15.8 billion as of the latest data. It is listed on the NASDAQ under the ticker symbol PNFP and is a component of the S&P 400 index. The leadership team, currently led by President and CEO Kevin S. Blair, emphasizes a client-centric approach and a vision to be the best financial services firm in the Southeast. The company continues to expand its footprint and service offerings, aiming to build long-term relationships with its clients and communities.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$2.9B
+2.4%
-4.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$642.1M
+35.2%
+118.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+65.9%
+34.3%
-10.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+26.7%
+31.0%
+132.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+22.0%
+32.0%
+129.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$665.2M
-17.6%
-92.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+22.8%
-19.5%
-92.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
35.8%
-9.0%
+80.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.07x
+404.0%
-15.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator : Good morning, and welcome to the Pinnacle Financial Partners Second Quarter 2026 Earnings Call. [Operator Instructions] Please note this event is being recorded. I will now turn the call over to Sam Tyagi, Senior Director, Investor Relations. Please go ahead.
Sam Tyagi : Thank you, and good morning. During today's quarterly earnings call, we will reference the slides and press release that are available within the Investor Relations section of our website, pnfp.com. President and CEO, Kevin Blair will begin the call. He will be followed by our Chief Financial Officer, Jamie Gregory, and they will be available to answer your questions at the end of the call. . Our comments include forward-looking statements. These statements are subject to risks and uncertainties, and the actual results could vary materially. We will list these factors that might cause results to differ materially in our press release and in our SEC filings, which are available on our website. We do not assume any obligation to update any forward-looking statements because of new information, early developments or otherwise, except as may be required by law. During the call, we will reference non-GAAP financial measures related to the company's performance. You may see the reconciliation of these measures in the appendix to our presentation. And now Kevin Blair will provide an overview of the quarter.
Kevin Blair : Thank you, Sam, and good morning, everyone. We have remained focused on the leverage points that help us deliver on our commitments and continue a long and proud heritage of growth and success. This quarter is another proof point of that focus. For the second quarter of 2026, we reported diluted EPS of $2.07 and adjusted diluted EPS of $2.50, excluding $82 million of pretax adjusted items. Year-to-date, adjusted EPS is up 26% versus the same period last year. We are maintaining our 2026 guidance with our year-to-date formats giving us added conviction in the ranges we set. Starting with the balance sheet. Loans grew $2.9 billion linked quarter, ahead of our expectations. Deposits were up $795 million, stronger than the combined firm's historical second quarter performance which is typically our seasonally lightest given municipal outflows and tax-related payments. This strong growth in earning assets, up 4% quarter-over-quarter led to 2% growth in net interest income. This is the broad-based high-quality growth that has long been the hallmark of this firm and the combination is making it even more powerful. Fee income is another area where our differentiation shows up with double-digit year-to-date growth on a combined firm basis. Core banking, wealth management and capital markets all posted strong year-over-year growth. As we have seen, most firms lose a step during integration, yet we are gaining share and deepening client relationships in the middle of a merger. On the expenses, we stayed disciplined while continuing to invest in the areas where we …
