Pinnacle Financial Partners Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 19, 2016 at 10:30 pm
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Pinnacle Financial Partners Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total interest income of $77,796,525 compared to $67,192,114 a year ago. Net interest income was $71,474,750 compared to $62,059,101 a year ago. Income before income taxes was $40,431,742 compared to $36,134,598 a year ago. Net income was $26,854,108 or $0.65 per diluted share compared to $24,148,752 or $0.62 per diluted share a year ago. Return on average assets was 1.24% compared to 1.27% a year ago. Return on average equity was 9.24% compared to 9.33% a year ago. Book value per common share was $22.85 compared to $22.45 a year ago.
For the year, the company reported total interest income of $255,169,880 compared to $206,169,962 a year ago. Net interest income was $236,632,915 compared to $192,984,549 a year ago. Income before income taxes was $143,097,930 compared to $105,652,684 a year ago. Net income was $95,509,402 or $2.52 per diluted share compared to $70,471,167 or $2.01 per diluted share a year ago.
Pinnacle Financial Partners, Inc. is a financial holding company. The Company operates through its wholly owned subsidiary, Pinnacle Bank (the Bank). The Bank is a Tennessee state-chartered bank. It offers a range of lending products, including commercial, real estate and consumer loans to individuals, businesses, and professional entities. The Bank is also focused on offering core deposits, including savings, noninterest-bearing checking, interest-bearing checking, money market and certificate of deposit accounts, including access to products offered through various IntraFi Network Deposit programs. The Bank also provides fiduciary and investment services through its Trust & Investment Services department. Its treasury management services include, online wire origination, automated bill pay services, positive pay, and others. It operates approximately 128 offices, including 51 in Tennessee, 39 in North Carolina, 21 in South Carolina, 10 in Virginia, three in Georgia.