Pinnacle and Federal Home Loan Bank of Cincinnati Award $2.4 Million in Affordable Housing Grants

Affordable housing advocates from across the Nashville area gathered in Donelson this morning to celebrate $2.4 million in grants given to support 175 new housing units.

Pinnacle Financial Partners distributed the funding thanks to a grant partnership with the Federal Home Loan Bank of Cincinnati (FHLB). Recipients included:

• Woodbine Community Organization, $1,000,000
• Urban Housing Solutions, $960,000
• Rutherford County Habitat for Humanity, $300,000
• Habitat for Humanity of Greater Nashville, $137,500

The total of these grants is the highest ever awarded through this partnership between FHLB and Pinnacle. Since Pinnacle was founded in 2000, the firm has awarded nearly $20 million in affordable housing grants through this partnership alone.

Hugh Queener, PNFP; Tony Woodham, Woodbine Community Organization; Carla Jarrell, PNFP

“Affordable housing is one of the cornerstones of our community development effort,” said Hugh Queener, Pinnacle’s chief administrative officer. “In our 20 years, we’ve worked with the Federal Home Loan Bank of Cincinnati to help build, rehab or purchase 1,127 single-family homes and another 450 rental units. For the last year, we’ve also partnered with FHLB on disaster recovery efforts in response to the Nashville tornado and recent flooding. Our communities depend on this funding to house people and help them recover in times of need, and we couldn’t do it without FHLB.”

Hugh Queener, PNFP; Terri Schultz, Rutherford County Area Habitat for Humanity; Carla Jarrell, PNFP

“This is my favorite part of the job,” said Todd Berry of the Federal Home Loan Bank of Cincinnati. “At least half of these events I attend involve Pinnacle. They are by far the biggest user of our programs in the state of Tennessee. I am grateful for their stewardship of our funding and even more grateful to these four organizations for making such great use of it.”

Hugh Queener, PNFP; Kelsey Oesmann and Brent Elrod, Urban Housing Solutions; Carla Jarrell, PNFP

“This money will go to our new Legacy Point subdivision in Murfreesboro to support 15 homeowners there,” said Terri Shultz, executive director of Rutherford County Area Habitat for Humanity. “When we have a project, we’re able to turn to partners like Pinnacle and FHLB to seek advice and have conversations about where we want to take our communities. They tell us our dreams are possible, and we are proud and honored to be a part of this partnership.”

Hugh Queener, PNFP; Lucile Houseworth, Habitat for Humanity of Greater Nashville; Carla Jarrell, PNFP

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2020 deposit data from the FDIC. Pinnacle earned a spot on the 2021 list of 100 Best Companies to Work For^® in the U.S., its fifth consecutive appearance. American Banker recognized Pinnacle as one of America’s Best Banks to Work For eight years in a row and No. 1 among banks with more than $10 billion in assets in 2020.

Pinnacle owns a 49 percent interest in Bankers Healthcare Group (BHG), which provides innovative, hassle-free financial solutions to healthcare practitioners and other licensed professionals. Great Place to Work and FORTUNE ranked BHG No. 1 on its 2020 list of Best Workplaces in New York State in the small/medium business category.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $35.3 billion in assets as of March 31, 2021. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 12 primarily urban markets in Tennessee, the Carolinas, Virginia and Atlanta.

Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com.