Pinnacle Financial Gains Balance Sheet, Earnings Momentum In 4Q12

WEBCAST AND CONFERENCE CALL INFORMATION

Pinnacle will host a webcast and conference call at 8:30 a.m. (CST) on Jan. 16, 2013, to discuss fourth quarter 2012 results and other matters. To access the call for audio only, please call 1-877-602-7944. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle’s website at www.pnfp.com.

For those unable to participate in the webcast, it will be archived on the investor relations page of Pinnacle’s website at www.pnfp.com for 90 days following the presentation.

Pinnacle Financial Partners provides a full range of banking, investment, mortgage and insurance products and services designed for small- to mid-sized businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. Comprehensive wealth management services, such as financial planning and trust, help clients increase, protect and distribute their assets.

The firm began operations in a single downtown Nashville location in Oct. 2000 and has since grown to over $5.0 billion in assets at Dec. 31, 2012. At Dec. 31, 2012, Pinnacle is the second-largest bank holding company headquartered in Tennessee, with 29 offices in eight Middle Tennessee counties and three offices in Knoxville.

Additional information concerning Pinnacle can be accessed at www.pnfp.com.

Certain of the statements in this release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “expect,” “anticipate,” “goal,” “objective,” “intend,” “plan,” “believe,” “should,” “seek,” “estimate” and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking. All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of Pinnacle Financial to differ materially from any results expressed or implied by such forward-looking statements. Such risks include, without limitation, (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short-term interest rate environment; (iii) the inability of Pinnacle Financial to grow its loan portfolio in the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial’s asset management activities in improving, resolving or liquidating lower-quality assets; (vi) increased competition with other financial institutions; (vii) greater than anticipated adverse conditions in the national or local economies including the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA, particularly in commercial and residential real estate markets; (viii) rapid fluctuations or unanticipated changes in interest rates; (ix) the results of regulatory examinations; (x) the ability to retain large, uninsured deposits with the expiration of the FDIC’s transaction account guarantee program (xi) the development of any new market other than Nashville or Knoxville; (xii) a merger or acquisition; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiv) the ability to attract additional financial advisors or to attract customers from other financial institutions; (xv) further deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xvi) inability to comply with regulatory capital requirements, including those resulting from currently proposed changes to capital calculation methodologies and required capital maintenance levels; and, (xvii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including regulatory or legislative developments arising out of current unsettled conditions in the economy, including implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. A more detailed description of these and other risks is contained in Pinnacle Financial’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2012. Many of such factors are beyond Pinnacle Financial’s ability to control or predict, and readers are cautioned not to put undue reliance on such forward-looking statements. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS – UNAUDITED
			December 31, 2012					December 31, 2011
ASSETS
Cash and noninterest-bearing due from banks			$	51,946,542				$	63,015,997
Interest-bearing due from banks				111,535,083					108,422,470
Federal funds sold and other				1,807,044					724,573
Cash and cash equivalents				165,288,669					172,163,040
Securities available-for-sale, at fair value				706,577,806					894,962,246
Securities held-to-maturity (fair value of $583,212 and $2,369,118 at
December 31, 2012 and December 31, 2011, respectively)				574,863					2,329,917
Mortgage loans held-for-sale				41,194,639					35,363,038
Loans				3,712,162,430					3,291,350,857
Less allowance for loan losses				(69,417,437	)				(73,974,675	)
Loans, net				3,642,744,993					3,217,376,182
Premises and equipment, net				75,804,895					77,127,361
Other investments				26,962,890					44,653,840
Accrued interest receivable				14,856,615					15,243,366
Goodwill				244,040,421					244,076,492
Core deposit and other intangible assets				5,103,273					7,842,267
Other real estate owned				18,580,097					39,714,415
Other assets				98,819,455					113,098,540
Total assets			$	5,040,548,616				$	4,863,950,704
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Noninterest-bearing			$	985,689,460				$	717,378,933
Interest-bearing				760,786,247					637,203,420
Savings and money market accounts				1,662,256,403					1,585,260,139
Time				606,455,873					714,496,974
Total deposits				4,015,187,983					3,654,339,466
Securities sold under agreements to repurchase				114,667,475					131,591,412
Federal Home Loan Bank advances				75,850,390					226,068,796
Subordinated debt and other borrowings				106,158,292					97,476,000
Accrued interest payable				1,360,598					2,233,330
Other liabilities				48,252,519					42,097,132
Total liabilities				4,361,477,257					4,153,806,136
Stockholders’ equity:
Preferred stock, no par value; 10,000,000 shares authorized; 71,250 shares issued and outstanding at December 31, 2011				-					69,096,828
Common stock, par value $1.00; 90,000,000 shares authorized; 34,696,597 shares and 34,354,960 shares issued and outstanding at December 31, 2012 and 2011, respectively				34,696,597					34,354,960
Common stock warrants				-					3,348,402
Additional paid-in capital				543,760,439					536,227,537
Retained earnings				87,386,689					49,783,584
Accumulated other comprehensive income, net of taxes				13,227,634					17,333,257
Stockholders’ equity				679,071,359					710,144,568
Total liabilities and stockholders’ equity			$	5,040,548,616				$	4,863,950,704
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
			Three Months Ended								Twelve Months Ended
			December 31								December 31
			2012				2011				2012				2011
Interest income:
Loans, including fees			$	41,705,546			$	38,917,962			$	160,036,709			$	154,748,491
Securities
Taxable				3,574,460				5,179,009				16,931,417				23,971,787
Tax-exempt				1,604,162				1,800,793				6,576,701				7,394,134
Federal funds sold and other				318,900				548,047				1,876,731				2,232,423
Total interest income				47,203,068				46,445,811				185,421,558				188,346,835
Interest expense:
Deposits				3,730,199				5,718,988				16,842,852				30,588,033
Securities sold under agreements to repurchase				85,094				178,958				455,499				1,110,078
Federal Home Loan Bank advances and other borrowings				1,144,741				1,255,194				5,258,749				5,184,313
Total interest expense				4,960,034				7,153,140				22,557,100				36,882,424
Net interest income				42,243,034				39,292,671				162,864,458				151,464,411
Provision for loan losses				2,487,938				5,438,846				5,568,830				21,797,613
Net interest income after provision for loan losses				39,755,096				33,853,825				157,295,628				129,666,798
Noninterest income:
Service charges on deposit accounts				2,622,709				2,290,699				9,917,754				9,244,165
Investment services				2,050,708				1,402,016				6,984,970				6,246,414
Insurance sales commissions				1,045,459				943,959				4,461,404				3,999,153
Gain on mortgage loans sold, net				1,768,428				1,461,224				6,698,618				4,155,137
Gain on sale of investment securities, net				1,987,872				133,055				2,150,605				960,763
Trust fees				863,234				746,257				3,195,950				2,999,731
Other noninterest income				2,769,456				2,749,616				9,987,335				10,334,847
Total noninterest income				13,107,866				9,726,826				43,396,636				37,940,210
Noninterest expense:
Salaries and employee benefits				19,556,285				18,962,481				78,056,564				74,424,851
Equipment and occupancy				5,202,436				4,977,335				20,420,333				19,986,976
Other real estate expense				1,364,495				4,193,073				11,544,067				17,431,926
Marketing and other business development				1,276,050				1,031,884				3,635,810				3,303,151
Postage and supplies				562,805				576,469				2,379,730				2,120,722
Amortization of intangibles				683,430				715,514				2,738,994				2,862,837
Other noninterest expense				6,205,765				3,917,180				19,389,368				18,976,865
Total noninterest expense				34,851,266				34,373,936				138,164,866				139,107,328
Income before income taxes				18,011,696				9,206,715				62,527,398				28,499,680
Income tax expense (benefit)				6,281,538				1,446,918				20,643,517				(15,237,687	)
Net income				11,730,158				7,759,797				41,883,881				43,737,367
Preferred dividends				-				1,004,410				1,660,868				4,606,493
Accretion on preferred stock discount				-				1,074,698				2,153,172				2,058,146
Net income available to common stockholders			$	11,730,158			$	5,680,689			$	38,069,841			$	37,072,728
Per share information:
Basic net income per common share available to common stockholders			$	0.35			$	0.17			$	1.12			$	1.11
Diluted net income per common share available to common stockholders			$	0.34			$	0.17			$	1.10			$	1.09
Weighted average shares outstanding:
Basic				33,960,664				33,485,253				33,899,667				33,420,015
Diluted				34,527,479				34,127,209				34,487,808				34,060,228
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
			December					September				June				March				December				September
(dollars in thousands)			2012					2012				2012				2012				2011				2011
Balance sheet data, at quarter end:
Commercial real estate - mortgage loans			$	1,178,196				1,167,136				1,167,068				1,123,690				1,110,962				1,087,333
Consumer real estate - mortgage loans				679,927				680,890				687,002				688,817				695,745				711,994
Construction and land development loans				313,552				312,788				289,061				281,624				274,248				278,660
Commercial and industrial loans				1,446,577				1,279,050				1,227,275				1,180,578				1,145,735				1,095,037
Consumer and other				93,910				85,300				74,277				63,160				64,661				68,125
Total loans				3,712,162				3,525,164				3,444,683				3,337,869				3,291,351				3,241,149
Allowance for loan losses				(69,417	)			(69,092	)			(69,614	)			(71,379	)			(73,975	)			(74,871	)
Securities				707,153				739,280				790,493				839,769				897,292				942,752
Total assets				5,040,549				4,871,386				4,931,878				4,789,583				4,863,951				4,868,905
Noninterest-bearing deposits				985,689				844,480				806,402				756,909				717,379				722,694
Total deposits				4,015,188				3,719,287				3,709,820				3,605,291				3,654,339				3,712,650
Securities sold under agreements to repurchase				114,667				134,787				127,623				118,089				131,591				128,954
FHLB advances				75,850				190,887				270,995				226,032				226,069				161,106
Subordinated debt and other borrowings				106,158				106,783				122,476				97,476				97,476				97,476
Total stockholders’ equity				679,071				672,824				659,287				718,665				710,145				724,374
Balance sheet data, quarterly averages:
Total loans			$	3,580,056				3,488,736				3,402,671				3,280,030				3,261,972				3,207,213
Securities				719,861				766,547				818,795				875,509				924,153				939,778
Total earning assets				4,493,216				4,379,742				4,365,715				4,316,973				4,347,352				4,308,710
Total assets				4,964,521				4,860,394				4,847,583				4,820,951				4,852,311				4,786,485
Noninterest-bearing deposits				978,366				799,508				755,594				701,760				705,580				671,796
Total deposits				3,883,423				3,705,672				3,636,240				3,597,271				3,641,845				3,699,553
Securities sold under agreements to repurchase				142,333				136,918				130,711				129,892				141,818				145,050
FHLB advances				124,781				214,271				232,606				238,578				209,619				111,699
Subordinated debt and other borrowings				108,489				112,406				101,872				97,476				97,476				97,476
Total stockholders’ equity				680,383				669,673				718,841				719,788				729,622				708,973
Statement of operations data, for the three months ended:
Interest income			$	47,203				46,441				45,953				45,824				46,446				46,888
Interest expense				4,960				5,509				5,768				6,320				7,153				8,532
Net interest income				42,243				40,932				40,185				39,504				39,293				38,356
Provision for loan losses				2,488				1,413				634				1,034				5,439				3,632
Net interest income after provision for loan losses				39,755				39,519				39,551				38,470				33,854				34,724
Noninterest income				13,108				10,430				9,910				9,949				9,727				10,080
Noninterest expense				34,851				33,578				33,916				35,820				34,374				35,676
Income before taxes				18,012				16,371				15,545				12,599				9,207				9,128
Income tax expense (benefit)				6,282				5,022				5,106				4,234				1,447				(16,973	)
Preferred dividends and accretion				-				-				2,655				1,159				2,079				1,564
Net income available to common stockholders			$	11,730				11,349				7,785				7,206				5,681				24,537
Profitability and other ratios:
Return on avg. assets (1)				0.94	%			0.93	%			0.65	%			0.60	%			0.46	%			2.06	%
Return on avg. equity (1)				6.86	%			6.74	%			4.36	%			4.03	%			3.09	%			13.88	%
Return on avg. tangible equity (1)				10.85	%			10.76	%			7.58	%			6.13	%			4.93	%			20.69	%
Net interest margin (1) (2)				3.80	%			3.78	%			3.76	%			3.74	%			3.65	%			3.60	%
Noninterest income to total revenue (3)				23.68	%			20.31	%			19.78	%			20.12	%			19.84	%			20.81	%
Noninterest income to avg. assets (1)				1.05	%			0.85	%			0.82	%			0.83	%			0.80	%			0.84	%
Noninterest exp. to avg. assets (1)				2.79	%			2.75	%			2.81	%			2.99	%			2.81	%			2.99	%
Noninterest expense (excluding ORE and FHLB prepayment charges) to avg. assets (1)				2.52	%			2.55	%			2.56	%			2.60	%			2.50	%			2.57	%
Efficiency ratio (4)				62.96	%			65.38	%			67.70	%			72.43	%			70.12	%			73.66	%
Avg. loans to average deposits				92.19	%			94.15	%			93.58	%			91.18	%			89.57	%			86.69	%
Securities to total assets				14.03	%			15.18	%			16.03	%			17.53	%			18.45	%			19.36	%
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED
			Three months ended												Three months ended
(dollars in thousands)			December 31, 2012												December 31, 2011
			Average Balances				Interest				Rates/ Yields				Average Balances				Interest				Rates/ Yields
Interest-earning assets
Loans (1)			$	3,580,056			$	41,706			4.64	%			$	3,261,972			$	38,918			4.74	%
Securities
Taxable				541,678				3,574			2.63	%				733,871				5,179			2.80	%
Tax-exempt (2)				178,183				1,604			4.78	%				190,282				1,801			5.01	%
Federal funds sold and other				193,299				319			0.77	%				161,227				548			1.45	%
Total interest-earning assets				4,493,216			$	47,203			4.24	%				4,347,352			$	46,446			4.30	%
Nonearning assets
Intangible assets				249,574												252,368
Other nonearning assets				221,731												252,591
Total assets			$	4,964,521											$	4,852,311
Interest-bearing liabilities
Interest-bearing deposits:
Interest checking			$	688,196			$	558			0.32	%			$	584,342			$	757			0.51	%
Savings and money market				1,611,639				1,816			0.45	%				1,592,704				2,624			0.65	%
Time				605,222				1,356			0.89	%				759,219				2,338			1.22	%
Total interest-bearing deposits				2,905,057				3,730			0.51	%				2,936,265				5,719			0.77	%
Securities sold under agreements to repurchase				142,333				85			0.24	%				141,818				179			0.50	%
Federal Home Loan Bank advances				124,781				390			1.24	%				209,619				566			1.07	%
Subordinated debt and other borrowings				108,489				755			2.77	%				97,476				689			2.80	%
Total interest-bearing liabilities				3,280,660				4,960			0.60	%				3,385,178				7,153			0.84	%
Noninterest-bearing deposits				978,366				-			-					705,580				-			-
Total deposits and interest-bearing liabilities				4,259,026			$	4,960			0.46	%				4,090,758			$	7,153			0.69	%
Other liabilities				25,112												31,931
Stockholders’ equity				680,383												729,622
Total liabilities and stockholders’ equity			$	4,964,521											$	4,852,311
Net interest income							$	42,243											$	39,293
Net interest spread (3)											3.64	%											3.46	%
Net interest margin (4)											3.80	%											3.65	%
(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis.
(3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the quarter ended December 31, 2012 would have been 3.78% compared to a net interest spread of 3.61% for the quarter ended December 31, 2011.
(4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED
			Twelve months ended												Twelve months ended
(dollars in thousands)			December 31, 2012												December 31, 2011
			Average Balances				Interest				Rates/ Yields				Average Balances				Interest				Rates/ Yields
Interest-earning assets
Loans (1)			$	3,438,401			$	160,037			4.66	%			$	3,218,123			$	154,749			4.82	%
Securities
Taxable				612,677				16,931			2.76	%				768,063				23,972			3.12	%
Tax-exempt (2)				182,217				6,577			4.82	%				193,397				7,394			5.10	%
Federal funds sold and other				155,876				1,877			1.33	%				167,932				2,232			1.43	%
Total interest-earning assets				4,389,171			$	185,422			4.29	%				4,347,515			$	188,347			4.40	%
Nonearning assets
Intangible assets				250,619												253,443
Other nonearning assets				233,764												232,477
Total assets			$	4,873,554											$	4,833,435
Interest-bearing liabilities
Interest-bearing deposits:
Interest checking			$	677,632			$	2,800			0.41	%			$	583,212			$	3,522			0.60	%
Savings and money market				1,575,174				7,884			0.50	%				1,597,965				13,773			0.86	%
Time				644,039				6,158			0.96	%				876,864				13,293			1.52	%
Total interest-bearing deposits				2,896,845				16,842			0.58	%				3,058,041				30,588			1.00	%
Securities sold under agreements to repurchase				134,989				455			0.34	%				161,845				1,110			0.69	%
Federal Home Loan Bank advances				202,338				2,237			1.11	%				136,741				2,512			1.84	%
Subordinated debt and other borrowings				105,131				3,024			2.87	%				98,201				2,672			2.73	%
Total interest-bearing liabilities				3,339,303				22,558			0.68	%				3,454,828				36,882			1.07	%
Noninterest-bearing deposits				809,268				-			-					650,602				-			-
Total deposits and interest-bearing liabilities				4,148,571			$	22,558			0.54	%				4,105,430			$	36,882			0.90	%
Other liabilities				27,933												24,752
Stockholders’ equity				697,050												703,253
Total liabilities and stockholders’ equity			$	4,873,554											$	4,833,435
Net interest income							$	162,864											$	151,465
Net interest spread (3)											3.61	%											3.33	%
Net interest margin (4)											3.77	%											3.55	%
(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis.
(3) Yields realized on interest-earning assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the twelve months ended December 31, 2012 would have been 3.74% compared to a net interest spread of 3.50% for the twelve months ended December 31, 2011.
(4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
			December					September				June				March				December				September
(dollars in thousands)			2012					2012				2012				2012				2011				2011
Asset quality information and ratios:
Nonperforming assets:
Nonaccrual loans			$	22,823				36,571				40,821				42,852				47,855				54,640
Other real estate (ORE)				18,580				21,817				25,450				34,019				39,714				45,500
Total nonperforming assets			$	41,403				58,388				66,271				76,871				87,569				100,140
Past due loans over 90 days and still accruing interest			$	-				162				-				821				858				1,911
Troubled debt restructurings (5)			$	27,450				24,090				26,626				22,832				23,416				18,187
Net loan charge-offs			$	2,163				1,935				2,399				3,630				6,335				5,732
Allowance for loan losses to nonperforming loans				304.2	%			188.9	%			170.5	%			166.6	%			154.6	%			137.0	%
As a percentage of total loans:
Past due accruing loans over 30 days				0.29	%			0.35	%			0.21	%			0.34	%			0.36	%			0.28	%
Potential problem loans (6)				2.84	%			3.13	%			3.49	%			3.78	%			4.12	%			4.09	%
Allowance for loan losses				1.87	%			1.96	%			2.02	%			2.14	%			2.25	%			2.31	%
Nonperforming assets to total loans and ORE				1.11	%			1.65	%			1.91	%			2.28	%			2.66	%			3.05	%
Nonperforming assets to total assets				0.82	%			1.20	%			1.34	%			1.60	%			1.80	%			2.06	%
Annualized net loan charge-offs to year-to-date to avg. loans (7)				0.29	%			0.31	%			0.36	%			0.45	%			0.94	%			1.00	%
Avg. commercial loan internal risk ratings (6)				4.5				4.6				4.6				4.7				4.6				4.7
Interest rates and yields:
Loans				4.64	%			4.62	%			4.65	%			4.74	%			4.74	%			4.78	%
Securities				3.16	%			3.19	%			3.27	%			3.31	%			3.26	%			3.54	%
Total earning assets				4.24	%			4.28	%			4.29	%			4.33	%			4.30	%			4.38	%
Total deposits, including non-interest bearing				0.38	%			0.43	%			0.47	%			0.63	%			0.62	%			0.77	%
Securities sold under agreements to repurchase				0.24	%			0.29	%			0.36	%			0.48	%			0.50	%			0.56	%
FHLB advances				1.24	%			1.15	%			1.07	%			1.03	%			1.07	%			1.89	%
Subordinated debt and other borrowings				2.77	%			2.84	%			2.91	%			3.00	%			2.80	%			2.68	%
Total deposits and interest-bearing liabilities				0.46	%			0.53	%			0.57	%			0.63	%			0.69	%			0.84	%
Pinnacle Financial Partners capital ratios (8):
Stockholders’ equity to total assets				13.5	%			13.8	%			13.4	%			15.0	%			14.6	%			14.9	%
Leverage				10.6	%			10.5	%			10.3	%			11.7	%			11.4	%			11.9	%
Tier one risk-based				11.8	%			12.1	%			12.0	%			14.0	%			13.8	%			14.4	%
Total risk-based				13.0	%			13.4	%			13.5	%			15.4	%			15.3	%			15.9	%
Tier one common equity to risk weighted assets				9.9	%			10.1	%			10.0	%			10.1	%			9.9	%			9.8	%
Tangible common equity to tangible assets				9.0	%			9.2	%			8.7	%			8.8	%			8.4	%			8.2	%
Pinnacle Bank ratios:
Classified Asset Ratio				29.4	%			33.4	%			37.8	%			39.3	%			44.4	%			46.8	%
Leverage				10.5	%			10.5	%			10.4	%			10.6	%			10.3	%			10.2	%
Tier one risk-based				11.6	%			12.0	%			12.0	%			12.6	%			12.5	%			12.3	%
Total risk-based				12.9	%			13.3	%			13.3	%			14.1	%			14.0	%			13.8	%
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
			December					September				June				March				December				September
(dollars in thousands, except per share data)			2012					2012				2012				2012				2011				2011
Per share data:
Earnings – basic			$	0.35				0.33				0.23				0.21				0.17				0.74
Earnings – diluted			$	0.34				0.33				0.23				0.21				0.17				0.72
Book value per common share at quarter end (9)			$	19.57				19.39				18.92				18.66				18.56				18.34
Tangible common equity per common share			$	12.39				12.19				11.79				11.50				11.33				11.08
Weighted avg. common shares – basic				33,960,664				33,939,248				33,885,779				33,811,871				33,485,253				33,372,980
Weighted avg. common shares – diluted				34,527,479				34,523,076				34,470,794				34,423,898				34,127,209				33,993,914
Common shares outstanding				34,696,597				34,691,659				34,675,913				34,616,013				34,354,960				34,306,927
Investor information:
Closing sales price			$	18.84				19.32				19.51				18.35				16.15				10.94
High closing sales price during quarter			$	20.60				20.38				19.51				18.44				16.65				16.21
Low closing sales price during quarter			$	18.05				18.88				16.64				15.25				10.28				10.52
Other information:
Gains on mortgage loans sold:
Mortgage loan sales:
Gross loans sold			$	132,485				130,277				105,486				119,426				134,842				104,663
Gross fees (10)			$	3,269				3,193				2,511				2,608				2,766				2,166
Gross fees as a percentage of mortgage loans originated				2.47	%			2.45	%			2.38	%			2.18	%			2.05	%			2.07	%
Gains (losses) on sales of investment securities, net of OTTI			$	1,988				(50	)			99				114				133				377
Brokerage account assets, at quarter-end (11)			$	1,242,379				1,244,100				1,191,259				1,176,180				1,061,249				987,908
Trust account assets, at quarter-end			$	819,270				761,641				803,904				789,614				632,608				607,668
Balance of commercial loan participations sold to other banks and serviced by Pinnacle, at quarter end			$	39,668				40,662				54,598				52,155				62,209				57,045
Core deposits (12)			$	3,875,745				3,576,425				3,523,542				3,405,915				3,441,547				3,388,692
Core deposits to total funding (12)				89.9	%			86.1	%			83.3	%			84.3	%			83.7	%			82.6	%
Risk-weighted assets			$	4,247,744				4,033,407				3,992,473				3,826,678				3,780,412				3,751,479
Total assets per full-time equivalent employee			$	6,900				6,715				6,724				6,442				6,511				6,580
Annualized revenues per full-time equivalent employee			$	301.4				281.6				273.9				266.8				263.2				262.5
Number of employees (full-time equivalent)				730.5				725.5				733.5				743.5				747.0				740.0
Associate retention rate (13)				93.2	%			93.4	%			94.0	%			93.7	%			92.0	%			92.6	%
Selected economic information (in thousands) (14):
Nashville MSA nonfarm employment - November 2012				759.2				757.6				764.7				747.8				757.3				735.5
Knoxville MSA nonfarm employment - November 2012				337.2				337.3				338.9				330.9				331.7				327.7
Nashville MSA unemployment - November 2012				5.9	%			7.1	%			6.8	%			7.2	%			7.2	%			8.5	%
Knoxville MSA unemployment - November 2012				5.7	%			6.8	%			6.4	%			6.7	%			6.6	%			7.9	%
Nashville residential median home price- December 2012			$	181.0				177.1				175.5				168.5				168.5				171.6
Nashville inventory of residential homes for sale- December 2012 (16)				9.1				11.0				11.8				11.8				10.6				13.4
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
			December					September					June					March					December					September
(dollars in thousands , except per share data)			2012					2012					2012					2012					2011					2011
Tangible assets:
Total assets			$	5,040,549				$	4,871,386				$	4,931,878				$	4,789,583				$	4,863,951				$	4,868,905
Less: Goodwill				(244,040	)				(244,045	)				(244,065	)				(244,072	)				(244,076	)				(244,082	)
Core deposit and other intangible assets				(5,103	)				(5,787	)				(6,470	)				(7,156	)				(7,842	)				(8,558	)
Net tangible assets			$	4,791,406				$	4,621,554				$	4,681,343				$	4,538,355				$	4,612,033				$	4,616,265
Tangible equity:
Total stockholders’ equity			$	679,071				$	672,824				$	659,287				$	718,665				$	710,145				$	724,374
Less: Goodwill				(244,040	)				(244,045	)				(244,065	)				(244,072	)				(244,076	)				(244,082	)
Core deposit and other intangible assets				(5,103	)				(5,787	)				(6,470	)				(7,156	)				(7,842	)				(8,558	)
Net tangible equity				429,928					422,992					408,752					467,437					458,226					471,734
Less: Preferred stock				-					-					-					(69,355	)				(69,097	)				(91,772	)
Net tangible common equity			$	429,928				$	422,992				$	408,752				$	398,082				$	389,130				$	379,962
Ratio of tangible common equity to tangible assets				8.97	%				9.15	%				8.73	%				8.77	%				8.44	%				8.23	%
			For the three months ended
			December					September					June					March					December					September
			2012					2012					2012					2012					2011					2011
Net interest income			$	42,243				$	40,932				$	40,185				$	39,504				$	39,293				$	38,356
Noninterest income				13,108					10,430					9,910					9,949					9,727					10,080
Less: Net gains (losses) on sale of investment securities				1,988					(50	)				99					114					133					377
Noninterest income excluding the impact of other net gains (losses) on sale of investment securities				11,120					10,480					9,811					9,835					9,594					9,703
Noninterest expense				34,851					33,578					33,915					35,820					34,374					35,676
Other real estate owned expense				1,365					2,399					3,104					4,676					4,193					5,079
FHLB restructuring charges				2,092					-					-					-					-					-
Noninterest expense excluding the impact of other real estate owned expense and FHLB restructuring charges				31,394					31,179					30,811					31,144					30,181					30,597
Adjusted pre-tax pre-provision income (15)			$	21,969				$	20,233				$	19,185				$	18,195				$	18,706				$	17,462
Efficiency Ratio (4)				63.0	%				65.4	%				67.7	%				72.4	%				70.1	%				73.7	%
Efficiency Ratio excluding the gain or loss on sale of investment securities, the impact of other real estate owned expense and FHLB restructuring charges (4)				58.8	%				60.6	%				61.6	%				63.1	%				61.7	%				63.7	%
Noninterest expense			$	34,851				$	33,578				$	33,915				$	35,820				$	34,374				$	35,676
Other real estate owned expense				1,365					2,399					3,104					4,676					4,193					5,079
FHLB restructuring charges				2,092					-					-					-					-					-
Noninterest expense excluding the impact of other real estate owned expense and FHLB restructuring charges				31,394					31,179					30,811					31,144					30,181					30,597
Total average assets			$	4,964,521				$	4,860,394				$	4,847,583				$	4,820,951				$	4,852,311				$	4,786,485
Noninterest expense (excluding ORE and FHLB restructuring charges) to avg. assets (1)				2.52	%				2.55	%				2.56	%				2.60	%				2.50	%				2.57	%
																							For the twelve months ended December 31,
																							2012					2011
Net income available to common stockholders																							$	38,070				$	37,073
Reversal of valuation allowance based on net deferred tax assets																								-					(22,480	)
Accelerated accretion on preferred stock discount																								1,664					141
																							$	39,734				$	14,734
Diluted net income per common share available to common stockholders, as adjusted																							$	1.15				$	0.43
This information is preliminary and based on company data available at the time of the presentation.

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
1.		Ratios are presented on an annualized basis.
2.		Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets.
3.		Total revenue is equal to the sum of net interest income and noninterest income.
4.		Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income.
5.		Troubled debt restructurings include loans where the company, as a result of the borrower’s financial difficulties, has granted a credit concession to the borrower (i.e., interest only payments for a significant period of time, extending the maturity of the loan, etc.). All of these loans continue to accrue interest at the contractual rate.
6.		Average risk ratings are based on an internal loan review system which assigns a numeric value of 1 to 10 to all loans to commercial entities based on their underlying risk characteristics as of the end of each quarter. A “1” risk rating is assigned to credits that exhibit Excellent risk characteristics, “2” exhibit Very Good risk characteristics, “3” Good, “4” Satisfactory, “5” Acceptable or Average, “6” Watch List, “7” Criticized, “8” Classified or Substandard, “9” Doubtful and “10” Loss (which are charged-off immediately). Additionally, loans rated “8” or worse that are not nonperforming or restructured loans are considered potential problem loans. Generally, consumer loans are not subjected to internal risk ratings.
7.		Annualized net loan charge-offs to average loans ratios are computed by annualizing year-to-date net loan charge-offs and dividing the result by average loans for the year-to-date period.
8.		Capital ratios are defined as follows:
		Equity to total assets – End of period total stockholders’ equity as a percentage of end of period assets.
		Tangible common equity to total assets - End of period total stockholders’ equity less end of period goodwill, core deposit and other intangibles as a percentage of end of period assets.
		Leverage – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets.
		Tier one risk-based – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets.
		Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets.
		Classified asset – Classified assets as a percentage of Tier 1 Capital plus allowance for loan losses.
9.		Book value per share computed by dividing total stockholders’ equity less preferred stock and common stock warrants by common shares outstanding.
10.		Amounts are included in the statement of operations in “Gains on loans sold, net”, net of commissions paid on such amounts.
11.		At fair value, based on information obtained from Pinnacle’s third party broker/dealer for non-FDIC insured financial products and services.
12.		Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities.
13.		Associate retention rate is computed by dividing the number of associates employed at quarter-end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter-end.
14.		Employment and unemployment data is from the US Dept. of Labor Bureau of Labor Statistics. Labor force data is not seasonally adjusted. The most recent quarter data presented is as of the most recent month that data is available as of the release date. The Nashville home data is from the Greater Nashville Association of Realtors.
15.		Adjusted pre-tax, pre-provision income excludes the impact of net gains (losses) on investment security sales as well as other real estate owned expenses and FHLB prepayment charges.
16.		Represents homes currently listed with MLS in the Nashville MSA.

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