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FOR IMMEDIATE RELEASE

MEDIA CONTACT:Joe Bass, 615-743-8219
FINANCIAL CONTACT:Harold Carpenter, 615-744-3742
WEBSITE:www.pnfp.com

PNFP REPORTS DILUTED EPS OF $1.22, ROAA OF 1.52% AND ROTCE OF 17.60% FOR 1Q 2019
Excluding gains and losses on investment securities transactions, diluted EPS of $1.24, ROAA of 1.54% and ROTCE of 17.87% for 1Q 2019 


NASHVILLE, TN, April 15, 2019 - Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $
1.22 for the quarter ended March 31, 2019, compared to net income per diluted common share of $1.08 for the quarter ended March 31, 2018, an increase of 13.0 percent.
Excluding gains and losses on the sale of investment securities in both 2019 and 2018 and merger-related charges in 2018, net income per diluted common share was $1.24 for the three months ended March 31, 2019, compared to net income per diluted common share of $1.13 for the three months ended March 31, 2018, a growth rate of 9.7 percent. 
"Our model is simple. First, we hire long-tenured bankers from our larger, bureaucratic competitors. Then, we support and enable them to move their clients and capture the balance sheet and fee opportunities those clients represent. And, ultimately, we capitalize on the operating leverage associated with hiring successful revenue producers to produce outsized earnings growth," said M. Terry Turner, Pinnacle's president and chief executive officer. "First quarter 2019 was another validation that our model works, as we continued to hire a meaningful number of revenue producers, continued to produce low double-digit loan growth and translated that into roughly 13 percent growth in fully diluted EPS on a GAAP basis, or 10 percent growth, after considering the impact of merger-related charges and gains and losses from investment securities transactions.
"My great friend, Ron Samuels, who is well known to many of our shareholders as the former Chairman and CEO of Avenue Bank here in Nashville, has recently decided that he is ready to retire from his day-to-day responsibilities as part of the leadership team at Pinnacle on June 30. We are grateful that he will remain on our board but will miss his everyday leadership and always optimistic perspective. On behalf of the entire Pinnacle family, I wish Ron and his wife Lynn all the best."

GROWING THE CORE EARNINGS CAPACITY OF THE FIRM:
Loans at March 31, 2019 were a record $18.2 billion, an increase of $1.8 billion from March 31, 2018, reflecting year-over-year growth of 11.3 percent. Loans at March 31, 2019 increased $467.4 million from Dec. 31, 2018, reflecting a linked-quarter annualized growth rate of 10.6 percent. 
Average loans were $17.9 billion for the three months ended March 31, 2019, up $308.2 million from $17.6 billion for the three months ended Dec. 31, 2018, an annualized growth rate of 7.0 percent.
At March 31, 2019, the remaining discount associated with fair value accounting adjustments on acquired loans was $85.8 million, compared to $95.7 million at Dec. 31, 2018.



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The following information was filed by Pinnacle Financial Partners Inc (PNFP) on Tuesday, April 16, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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