Pinnacle Grows Deposit Share in the Knoxville MSA

Pinnacle Financial Partners is the No. 3 largest bank in the Knoxville MSA by deposits-up from No. 4 in 2024-after growing local deposits by $509.22 million in the 12 months ended June 30, 2025, for a total of $3.36 billion. That's an annual growth rate of 17.84 percent to reach 12.65 percent of local market share.

"Our deposit growth shows what's possible when you put people first," said Mike DiStefano, Pinnacle's Knoxville president. "Clients know they can count on us for more than transactions. They trust us for advice, partnership and a genuine commitment to their success. That trust is what fuels results like these."

Despite industry headwinds, Pinnacle has continued to outperform peers by leaning on its relationship first culture and bringing in top talent. The firm's Knoxville team added three of the market's most experienced and successful bankers in the first half of 2025, and they're supported by a service model that consistently earns national recognition. Pinnacle continues to prioritize hiring associates who can build deep, lasting relationships with clients, strengthening its foundation for sustainable growth.

Statewide, Pinnacle is the second largest bank by deposits with 12.94 percent market share-less than half a percentage point behind the leader. The firm added $2.50 billion in deposits during the 12 months ended June 30, 2025, and was the only bank in Tennessee's top five to grow market share. That brings its total to $30.21 billion. In Nashville, Pinnacle is No. 1 with $21.34 billion in deposits, having grown by $1.63 billion in the period for an annual growth rate of 8.29 percent. In Chattanooga, the firm is the No.2 largest bank by deposits, achieving 6.98 percent growth to a total of $2.35 billion and 15.3 percent of market share. And in Memphis, Pinnacle notched 5.34 percent in deposits for a total of $2.4 billion and a No. 3 ranking.

Across its footprint, Pinnacle grew deposits in 23 out of 27 MSAs in which it operates, including eight with double-digit growth and three with triple-digit growth. The firm grew share in 22 of those markets and was a top five grower in 15 of those.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2025 deposit data from the FDIC. Pinnacle is No. 9 on FORTUNE magazine's 2025 list of 100 Best Companies to Work For® in the U.S., its ninth consecutive appearance and was recognized by American Banker as one of America's Best Banks to Work For 12 years in a row and No. 1 among banks with more than $10 billion in assets in 2024.

Pinnacle expanded to East Tennessee in 2007 by hiring a team of local financial services professionals to start an office in Knoxville. Pinnacle now operates five offices in Knox County, one in Oak Ridge and one in Maryville. The firm is the third-largest bank in the Knoxville MSA in terms of deposits. The firm was recognized as the No.1 Top Workplace, mid-size category by Knox News in 2024 for seven of the last eight years.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $54.8 billion in assets as of June 30, 2025. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast.

Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at https://www.pnfp.com.