Enriched Shareholders
Sustained Growth Enriches Shareholders
Pinnacle's model doesn't just drive associate and client success—it delivers for shareholders again and again through consistent financial performance, strategic growth and disciplined capital management. Our ability to deliver returns to our investors is a result of our relentless focus on the metrics that we believe matter most to value creation: revenue growth, fully diluted EPS growth and tangible book value per share growth.
In 2024, the core of our strategy to return value to shareholders again showed that Pinnacle has been a winning and advantaged stock since it was listed in NASDAQ in 2002.
Balance Sheet Growth
Without sustainable loan and deposit growth, it's incredibly difficult to reliably grow revenue, earnings and tangible book value per share. Strategic expansion fueled $2.6 billion in loan growth in 2024—even while we were intentionally focused on reducing our commercial real estate exposure—and deposits grew by $4.3 billion, which we believe showcases our ongoing ability to take a significant amount of market share from our vulnerable competitors.
Growth of Expansion Markets & Specialties
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5.0years in the market
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$1.7Bin loans+26.1%
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$855.4Min deposits+33.1%
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$43.4Min revenue
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No. 25deposit market share
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1.0years in the market
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$138.9Min loans
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$37.0Min deposits
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$1.1Min revenue
- First year in operation
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3.2years in the market
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$760.0Min loans;+95.7%
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$1.6Bin deposits;+79.9%
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$24.6in revenue
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No. 24deposit market share
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3.5years in the market
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$990.7Min loans+42.0%
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$775.3Min deposits+25.4%
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$26.5Min revenue
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No. 22deposit market share in Birmingham
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No. 11deposit market share in Huntsville
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2.3years in the market
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$426.8Min loans+31.1%
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$323.3Min deposits+140.9%
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$7.4Min revenue
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No. 34deposit market share in Louisville
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No. 12deposit market share in Bowling Green
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$3.1Bin loans+23.0%
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$8.7Bin deposits+34.1%
Growth of Legacy Markets
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$8.6Bin loans+1.4%
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$15.5Bin deposits+10.9%
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$483.8Min revenue
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No. 1deposit market share
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$3.5Bin loans+4.8%
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$2.3Bin deposits+5.9%
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$113.6Min revenue
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No. 7deposit market share
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$2.4Bin loans+6.3%
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$2.4Bin deposits+5.2%
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$86.1Min revenue
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No. 3deposit market share
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$2.3Bin loans+8.0%
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$2.7Bin deposits+9.7%
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$81.9Min revenue
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No. 2deposit market share
All loan and deposit numbers as of Dec. 31, 2024. Market share ranking based on FDIC data as of June 30, 2024.
Revenue and Margin Growth
Between 70-80 percent of our earnings always will be derived from the margin on our balance sheet volumes. Our net interest margin was 3.16 percent for the year. Fees from wealth management and other services added to our growing net interest income to result in more than $1.7 billion in total revenue for 2024.
Margin
Income
+8.2%
Pinnacle Leads Peers in 10-year CAGR for Net Interest Income Growth
Deposit Volumes & Cost of Funds
+15.4%
Services
+28.9%
+24.5%
Key Metrics with Reliable Trajectories
Our key performance indicators for earnings growth show a reliable long-term track record with a steady trajectory. Looking just at the last five years, our CAGRs on revenue (12.5 percent), fully diluted EPS (37.3 percent) and tangible book value per share (11.1 percent) show Pinnacle as a consistent performer that we believe is positioned for continued growth.
- Q4
- Q3
- Q2
- Q1
For a reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures, see the Business Insights page.
Protecting Our Balance Sheet
Nothing would be more damaging to EPS and TBV growth than outsized loan losses. Loan quality statistics confirm the ongoing strength of our loan portfolio. Net charge-offs in 2024 were just 0.23 percent, and our classified asset ratio and non-performing asset ratio were 3.8 percent and 0.42 percent, respectively.
- Q4
- Q3
- Q2
- Q1
For a reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures, see the Business Insights page.
Looking ahead, our focus remains on accelerating our momentum—driving profitable growth, enhancing shareholder value and extending our track record of long-term outperformance versus our peers. Our ability to sustain and build upon the success of 2024 should position Pinnacle to capture even greater market share, expand our balance sheet size and strength and further amplify returns. With a relentless focus on strategic execution and financial discipline, we believe we are well positioned to turn today's momentum into tomorrow's sustained success.