This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pinnacle Financial Grows Quarterly Net Income Per Fully Diluted Share 143 Percent Over Fourth Quarter Of 2010

Aggressively Dealing with Credit Issues

  • Nonperforming assets declined by $12.6 million, a linked-quarter reduction of 12.6 percent and the sixth consecutive quarterly reduction. Pinnacle resolved $32.3 million in nonperforming assets during the fourth quarter of 2011, compared to resolutions of $29.5 million during the third quarter of 2011.
    • Nonperforming loans declined by $6.8 million during the fourth quarter of 2011, a linked-quarter reduction of 12.4 percent and the seventh consecutive quarterly reduction. Nonperforming loans are down 40.8 percent from a year ago.
    • Other real estate also declined by $5.8 million during the fourth quarter of 2011, inclusive of $7.4 million in property foreclosures during the fourth quarter of 2011.
  • Potential problem loans, which are classified loans that continue to accrue interest, also decreased from $228.3 million at Dec. 31, 2010, to $130.4 million at Dec. 31, 2011, a decrease of 42.9 percent. Potential problem loans are down by 59.0 percent from their peak in June 2010.
  • Construction and land development loans were $274.2 million at Dec. 31, 2011, down 1.6 percent from $278.7 million at Sept. 30, 2011, and 17.2 percent from $331.3 million at Dec. 31, 2010. Residential land development loans declined from $111.6 million at Dec. 31, 2010, to $71.2 million at Dec. 31, 2011. Residential land development loans decreased 7.7 percent during the fourth quarter of 2011 from $77.1 million at Sept. 30, 2011.

“Our special assets group has been an important factor in our performance in 2011,” Turner said. “These professionals have worked tirelessly over the last year to minimize our problem loans and credit losses. As a result of their efforts, dispositions of nonperforming loans and other real estate during 2011 amounted to approximately $133.6 million. As we move into 2012, we anticipate dispositions will decrease as we continue to see improvement in our credit quality and the absolute size of our troubled asset portfolio declines.”

2 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FB $116.75 7.20%
GOOG $691.63 -2.00%
TSLA $248.72 -1.10%
YHOO $36.66 -0.77%
AAPL $94.73 -3.20%


Chart of I:DJI
DOW 17,820.48 -221.07 -1.23%
S&P 500 2,075.31 -19.84 -0.95%
NASDAQ 4,808.5970 -54.5440 -1.12%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs