FOR IMMEDIATE RELEASE

 
MEDIA CONTACT:
Nikki Klemmer, 615-743-6132
 
FINANCIAL CONTACT:
Harold Carpenter, 615-744-3742
 
WEBSITE:
www.pnfp.com

PNFP REPORTS RECORD EARNINGS PER SHARE OF $0.53 FOR 4Q 2014
 Loan Growth Exceeds Aggressive Three-Year Targets

NASHVILLE, Tenn., Jan. 20, 2015 – Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $0.53 for the quarter ended Dec. 31, 2014, compared to net income per diluted common share of $0.44 for the quarter ended Dec. 31, 2013, an increase of 20.5 percent. Net income per diluted common share was $2.01 for the year ended Dec. 31, 2014, compared to net income per diluted common share of $1.67 for the year ended Dec. 31, 2013, an increase of 20.4 percent.
"Three years ago, we set out a bold plan that included $1.27 billion in net loan growth, a compound annual growth rate of 11.5 percent for the three-year period," said M. Terry Turner, Pinnacle's president and chief executive officer. "Rapid loan growth was the cornerstone for increased operating leverage and profitability for our firm. I am pleased to report that our $168.8 million of net loan growth in the fourth quarter of 2014 provided the necessary volume to exceed our three-year growth target. Every associate in our firm has helped us achieve our profitability targets in conjunction with this loan growth. While we are excited about these achievements, we continue to see similar opportunities for increased operating leverage as a result of continued balance sheet growth over the next three  years."

GROWING THE CORE EARNINGS CAPACITY OF THE FIRM:
· Revenues (excluding securities gains and losses) for the quarter ended Dec. 31, 2014 were a record $64.7 million, an increase of $2.3 million from $62.4 million in the third quarter of 2014. Revenues (excluding securities gains and losses) increased 12.6 percent over the same quarter last year.
·
Loans at Dec. 31, 2014 were a record $4.59 billion, an increase of $168.8 million from Sept. 30, 2014. Loans increased $445.5 million from Dec. 31, 2013, for a year-over-year growth rate of 10.7 percent.
· Average balances of noninterest-bearing deposit accounts were $1.374 billion in the fourth quarter of 2014 and represented approximately 28.9 percent of total average deposit balances for the quarter, another record for the firm. Fourth quarter 2014 average noninterest-bearing deposits increased 16.5 percent over the same quarter last year.
· Return on average assets increased to 1.27 percent for the fourth quarter of 2014, compared to 1.25 percent for the third quarter of 2014 and 1.13 percent for the same quarter last year. Fourth quarter 2014 return on average tangible equity amounted to 13.52 percent, compared to 13.69 percent for the third quarter of 2014 and 12.79 percent for the same quarter last year.


The following information was filed by Pinnacle Financial Partners Inc (PNFP) on Wednesday, January 21, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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