Pinnacle Financial Partners, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 18, 2023 at 01:31 am IST
Share
Pinnacle Financial Partners, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 317.24 million compared to USD 305.78 million a year ago. Net income was USD 132.6 million compared to USD 148.66 million a year ago. Basic earnings per share from continuing operations was USD 1.69 compared to USD 1.91 a year ago. Diluted earnings per share from continuing operations was USD 1.69 compared to USD 1.91 a year ago.
For the nine months, net interest income was USD 944.87 million compared to USD 809.83 million a year ago. Net income was USD 467.17 million compared to USD 422.9 million a year ago. Basic earnings per share from continuing operations was USD 6 compared to USD 5.43 a year ago. Diluted earnings per share from continuing operations was USD 5.99 compared to USD 5.42 a year ago.
Pinnacle Financial Partners, Inc. is a financial holding company. The Company operates through its wholly owned subsidiary, Pinnacle Bank (the Bank). The Bank is a Tennessee state-chartered bank. It offers a range of lending products, including commercial, real estate and consumer loans to individuals, businesses, and professional entities. The Bank is also focused on offering core deposits, including savings, noninterest-bearing checking, interest-bearing checking, money market and certificate of deposit accounts, including access to products offered through various IntraFi Network Deposit programs. The Bank also provides fiduciary and investment services through its Trust & Investment Services department. Its treasury management services include, online wire origination, automated bill pay services, positive pay, and others. It operates approximately 128 offices, including 51 in Tennessee, 39 in North Carolina, 21 in South Carolina, 10 in Virginia, three in Georgia.