Pinnacle Financial Partners is a Top 25 Bank in Birmingham by Deposits

The firm grew local deposits by 291.28%, holds $250.99 million according to FDIC data

Pinnacle Financial Partners, a bank headquartered in Nashville, TN, grew local deposits in the Birmingham MSA by 291.28 percent during the 12 months ended June 30, 2023, which represents $186.84 million annual growth for a total of $250.99 million local dollars. This places the firm in the top half of all banks in the Birmingham MSA by deposit market share, ranking at No. 23 out of 48 banks.

“Growth like this happens when we have engaged associates dedicated to our mission of providing clients with distinctive service and effective advice,” said, Mark Imig regional president in Birmingham. “This is evidence and validation that we are attracting top talent to our ranks and earning the trust of Central Alabama. We have so far accomplished this with just one location, and as we add more in the near future, we expect that success to multiply. This is the beginning of our story, and we have a lot more to come.”

Statewide in Alabama, Pinnacle grew deposits by $227.52 million to a total of $552.22 million and 0.41 percent of market share as of June 30, 2023. That puts Pinnacle at No. 38 statewide, up from No. 52 at June 30, 2022. In Huntsville, deposits grew by 38.72 percent during the 12 months ended June 30, 2023, adding $85.64 million for a $301.23 million total. The firm ranks No.12 in Huntsville, rising from No. 30.

Across its footprint, Pinnacle grew deposits by $5.21 billion in the 12 months ended June 30, 2023, for an annual growth rate of 15.90% and a total of $37.97 billion. Of Pinnacle’s 25 MSAs measured by the FDIC, it saw growth in 19, including 10 with double-digit growth rates, two hitting triple-digits and seven where it is the fastest growing bank by deposit dollars. 

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 and fastest growing bank in the Nashville-Murfreesboro-Franklin MSA, according to 2023 deposit data from the FDIC, and is listed by Forbes as No. 27 among America’s Best Banks, higher than any other bank headquartered in Tennessee, North Carolina, South Carolina or Georgia. Pinnacle also earned a spot on the 2023 list of 100 Best Companies to Work For® in the U.S., its seventh consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 10 years in a row and No. 1 among banks with more than $11 billion in assets in 2022.

Pinnacle entered Alabama in the summer of 2021 by hiring a team of local financial services professionals to open offices in Huntsville and Birmingham.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $46.9 billion in assets as of June 30, 2023. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets across the Southeast.

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