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2024 Annual Report
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Shareholder Letter
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2024 ANNUAL REPORT

Engaged Clients

Engaged Clients Drive Sustainable Growth

Excited
Associates
Engaged
Clients
Enriched
Shareholders

Success in banking comes as a result of relationships. It's not enough just to acquire clients. Loyalty is what leads to long-term, sustainable wins, and that loyalty must be earned by delivering on promises and giving them more than they could ever expect from any other financial partner.

Pinnacle clients continued to honor us with their loyalty and business in 2024 because of our consistent overperformance in the measures that matter most to them.

Distinctive Service

Every interaction between a bank and its clients matters. Pinnacle once again achieved industry-leading Net Promoter Scores (NPS) and earned 30 Crisil Coalition Greenwich Best Bank Awards—more than any other bank in the nation (formerly called Greenwich Best Brand and Greenwich Excellence Awards).

83
Net Promoter Score
Highest in the region
24 points above our nearest competitor
30
2025 Crisil Coalition Greenwich Best Bank Awards
No. 1 in the Nation

Pinnacle leads the South in all key drivers of client satisfaction, including:

95%
Overall
Satisfaction
Closest Competitor — 89%
88%
Ease of Doing
Business
Closest Competitor — 76%
90%
Bank You
Can Trust
Closest Competitor — 79%
90%
Values Long-term
Relationships
Closest Competitor — 79%
83
Net Promoter
Score
Closest Competitor — 59

Source: Crisil Coalition Greenwich, 4Q24, total Pinnacle footprint among companies with $1-500MM annual revenue

Small Business Banking

  • Best Bank — Overall Satisfaction
  • Best Bank — Trust
  • Best Bank — Values Long-Term Relationships
  • Best Bank — Customer Service
  • Best Bank — Ease of Doing Business
  • Best Bank — Likelihood to Recommend
  • Best Bank — Satisfaction with RM
  • Best Bank — Advisory Capabilities of RM
  • Best Bank — Satisfaction in Cash Management
  • Best Bank — Ease of Making Payments
  • Best Bank — Product Capabilities in Cash Management
  • Best Bank — Satisfaction in Cash Management (South Region)
  • Best Bank — Likelihood to Recommend (South Region)
  • Best Bank — Overall Satisfaction (South Region)
  • Best Bank — Satisfaction with RM (South Region)

Middle Market Banking

  • Best Bank — Overall Satisfaction
  • Best Bank — Trust
  • Best Bank — Values Long-Term Relationships
  • Best Bank — Customer Service
  • Best Bank — Ease of Doing Business
  • Best Bank — Likelihood to Recommend
  • Best Bank — Satisfaction with RM
  • Best Bank — Advisory Capabilities of RM
  • Best Bank — Satisfaction in Cash Management
  • Best Bank — Ease of Making Payments
  • Best Bank — Product Capabilities in Cash Management
  • Best Bank — Satisfaction with RM (South Region)
  • Best Bank — Satisfaction in Cash Management (South Region)
  • Best Bank — Likelihood to Recommend (South Region)
  • Best Bank — Overall Satisfaction (South Region)

See more about Pinnacle's awards from Crisil Coalition Greenwich at PNFP.com

Effective Advice

Clients tell us and third-party researchers that our financial advisors proactively provide advice, give insights they wouldn't otherwise have and are responsive and prompt, giving them a bank they can trust.

Pinnacle leads the South in all Relationship Manager categories, including:

88%
Overall Satisfaction with Relationship Manager
87%
Timely Follow-up
on Requests
79%
Proactive Advice and Innovative Ideas
89%
Knowledge of Cash Management Services
85%
Coordination of the Bank's Product Specialists
75%
Understanding
Your Industry
76%
Data and Analytics-driven Insights

Source: Crisil Coalition Greenwich, 4Q24, total Pinnacle footprint among companies with $1-500MM annual revenue

Listen to these clients talk about how Pinnacle helped them reach their goals while making it easy to do business.

Watch the video

Meeting all the Client's Needs

Since Day One, we set out to meet all the client's needs. As we've grown, so have they, and we've been intentional about keeping pace. Our growing specialty loan and deposit programs continue to open new industry possibilities that bring aboard new business and give our long-standing clients more and better solutions to reach their goals.

Dive into Pinnacle's deposit specialties that have brought nearly $9 billion in funding to the firm.

Watch the video

Making It Easy to Do Business

At $23.5 million in technology-related capital expenditures in 2024, we continue to grow our ability to serve clients. By combining competitive technology with our unbeatable service, we were ranked No. 1 in our footprint for the overall digital experience, the capabilities of our cash management platform and the ability of our people to assist with it.

Pinnacle leads the South in all Cash Management categories but one, including:

82%
Overall Digital
Experience
82%
Quality of Customer
Service
80%
Domestic Product
Capability
72%
International
Capabilities

Pinnacle also leads the South in all Credit Process categories, including:

83%
Willingness to
Extend Credit
74%
Digitizing the
Credit Process
75%
Competitive
Pricing

Source: Crisil Coalition Greenwich, 4Q24, total Pinnacle footprint among companies with $1-500MM annual revenue

As we look ahead, our focus on the client experience won't change. It works, and we intend to continue building on the momentum that we have achieved from prioritizing people. It powered year-over-year deposit market share gains in 20 out of 27 MSAs measured by the FDIC* and cultivates loyalty that has historically allowed our performance to transcend rate changes and economic conditions--with shareholders reaping the rewards.

*As of June 30, 2024