Pinnacle Financial Partners Rises Five Spots in Atlanta MSA Deposit Market Share Ranking, Grows Deposits by $212.3 Million in One Year

Pinnacle Financial Partners grew local deposits in the Atlanta MSA by $212.3 million in the 12 months ended June 30, 2024, for a total of $746.6 million. That's an annual growth rate of 39.7 percent to reach 0.2 percent of local market share. The firm is tied for the No. 25 largest bank in the Atlanta MSA, according to FDIC deposit data. That's up from No. 30 in 2023.

"It's been an honor to serve a community that has shown us such confidence," said Rob Garcia, regional president. "Our deposit growth is a reflection of the dedication of our associates, who always go the extra mile to take care of our clients."

Despite a difficult operating environment for banks, Pinnacle has remained on a growth trajectory thanks to a favorable competitive landscape. The firm's award-winning culture and nationally recognized service levels attract some of the Atlanta area's most experienced and successful bankers along with their best clients. In the 12 months ended June 30, 2024, Pinnacle hired 12 new revenue producing bankers in the market.

Statewide, Pinnacle is the No. 35 largest bank in Georgia by deposits. The firm added $212.3 million during the 12 months ended June 30, 2024, bringing its total to $746.6 million and 0.32 percent market share.

Across its footprint, Pinnacle grew deposits in 18 out of 27 MSAs measured by the FDIC, including 12 with double-digit growth and one with triple-digit growth. The firm grew share in 15 of those markets, taking a greater percentage of overall local deposit pools, at a time when competition for bank deposits has been incredibly fierce.

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 2024 deposit data from the FDIC. Pinnacle is No. 11 on FORTUNE magazine's 2024 list of 100 Best Companies to Work For® in the U.S., its eighth consecutive appearance and was recognized by American Banker as one of America's Best Banks to Work For 11 years in a row and No. 1 among banks with more than $10 billion in assets in 2023.

Pinnacle expanded to Georgia in 2020 by hiring a team of local financial services professionals to start an office in the Atlanta area. The firm was named to the list of Best Places to Work in Atlanta, medium company category, three years in a row by the Atlanta Business Chronicle, including a No. 1 ranking in 2022 and No. 2 in 2023.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $49.4 billion in assets as of June 30, 2024. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in several 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.