- Loans at June 30, 2012, were $3.44 billion, an increase of $106.8 million from March 31, 2012. Commercial and industrial loans plus owner-occupied commercial real estate loans were $1.83 billion at June 30, 2012, an increase of $57.8 million from March 31, 2012, and the eighth consecutive quarter of net growth. Loans have increased $153.3 million since Dec. 31, 2011, an annualized growth rate of 9.3 percent.
- Since expanding to Knoxville in the summer of 2007, Pinnacle has continued its strong growth in that market. The Knoxville footprint reached $577.9 million in loans at the end of the second quarter of 2012, up from $544.4 million at March 31, 2012, or 6.2 percent.
- Average balances of noninterest bearing deposit accounts were $755.6 million in the second quarter of 2012, up 7.7 percent over first quarter 2012 and 20.1 percent over the same quarter last year.
- Revenue for the quarter ended June 30, 2012, amounted to $50.1 million, compared to $47.6 million for the same quarter of last year, an increase of 5.2 percent.
- Net interest margin increased to 3.76 percent for the quarter ended June 30, 2012, up from 3.74 percent last quarter and from 3.55 percent for the quarter ended June 30, 2011.
- Pre-tax pre-provision income was $16.2 million for the quarter ended June 30, 2012, up $2.5 million from last quarter and $2.9 million from the same quarter last year. Pre-tax pre-provision income was up 18.7 percent over last quarter and 22.1 percent over the same quarter last year.
Pinnacle Financial Reports Diluted EPS Of $0.23 For The Second Quarter Of 2012, Up 64 Percent Over Same Quarter Last Year
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.