Pinnacle maintained its hometown advantage with the No. 1 market share position and 17 percent share of deposits, according to FDIC deposit data as of June 30, 2020. The firm’s growth rate was the highest among the top 10 banks, and six of those banks lost market share despite gaining in dollar amounts.
Market share grew 9.57 percent in 2020, in part due to the addition of 13 revenue producers recruited from peer institutions with an average of 16 years of experience. The firm opened a new office in Murfreesboro on Medical Center Parkway and began construction on another in Gallatin, both of which expand Pinnacle’s footprint in counties adjacent to Nashville.
Ninety-seven percent of Nashville respondents to surveys from Greenwich Associates in 2020 stated Pinnacle was a "Bank You Can Trust," a leading score among all banks covered. Pinnacle is leading in most Greenwich "Key Driver of Satisfaction" metrics in Nashville.
Pinnacle Growth
13
Revenue Producers Hired
-1.0%
Loan Growth to $6.457 billion
34.56%
Deposit Growth to $10.556 billion
#1
Market Share
$831M
PPP Lending