Pinnacle trims size of planned debt raise

The leaders of Pinnacle Financial Partners expect to issue $50 million in debt to help finance the acquisitions of CapitalMark Bank & Trust in Chattanooga and Magna Bank in Memphis as well as pay off its loan with U.S. Bank. That number is down from two weeks ago, when bank execs said they had started talks about issuing up to $60 million in subordinated debt.

Also of note from Pinnacle's latest filing: President and CEO Terry Turner first talked about a deal with CapitalMark boss Craig Holley way back in February of last year. But it took until early this year — starting with word that CapitalMark's 2014's profits would fall short of previous estimates — for the conversation to get down to terms and price. (Search for "February 10" to follow the timeline.)

Jun 3, 2015 10:22 AM

Pinnacle recruits residential construction SVP

Exec had led Regions' Tennessee home builder finance group
Jun 2, 2015 1:51 PM

Pinnacle in talks for debt to help fund acquisitions

Execs also eye holding company loan payoff
May 20, 2015 7:24 AM

Wunderlich hikes Pinnacle target

In the wake of Pinnacle Financial Partners' big Memphis news, Kevin Reynolds at Wunderlich Securities has upgraded shares of the largest bank headquartered in Nashville to 'buy' from 'hold.' Reynolds, who earlier this month hiked his Pinnacle price targe to $48 from $40, now has the stock climbing to $54 in the coming year. Pinnacle (Ticker: PNFP) finished Wednesday trading at $48.60.

Apr 30, 2015 6:47 AM

Turner charts path to top 5 spot in Memphis

Pinnacle CEO sees First Tennessee transplants bringing in $250M in loans before end of '17
Apr 29, 2015 12:04 PM

Walking into Memphis: Pinnacle buying bank, recruits First Tennessee team

Acquisition will lift assets past $8B
Apr 29, 2015 7:19 AM

Pinnacle's board will be declassified

Shareholders of Pinnacle Financial Partners last week voted to declassify the bank holding company's board of directors, a process that will completed two years from now. Investors also approved by very wide margins the other items of business put before them.

Apr 28, 2015 9:22 AM

KBW hikes Pinnacle target for second time in month

Keefe Bruyette & Woods analyst Jefferson Harralson still really likes the prospects for shares of Pinnacle Financial Partners. On the heels of the bank holding company's strong first-quarter earnings report, he has reiterated his 'outperform' rating but lifted his price target to $54 from $48. Less than a month ago, Harralson took his target from $40 to $48, just above where the stock (Ticker: PNFP) now trades. That $48 level is where Stephens analyst Matt Olney now sees Pinnacle heading. His previous target was $45.

Apr 24, 2015 11:29 AM

Pinnacle recruits SunTrust first VP

Goodwill Industries board member comes on board as SVP
Apr 22, 2015 11:01 AM

Earnings wrap: Pinnacle, HealthStream

Bank, workforce development company both beat estimates
Apr 21, 2015 7:26 AM