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Pinnacle FINANCIAL PARTNERS SM FOR IMMEDIATE RELEASE MEDIA CONTACT : FINANCIAL CONTACT : WEBSITE : Joe Bass . 615-743-8219 Harold Carpenter , 615-744-3742 www.pnfp.com PNFPREPORTS DILUTED EPS OF $ 1.61 , ROAA OF 1.42 % AND ROTCE OF 17.16 % FOR 1Q2021 Compared to diluted EPS of $ 0.37 , ROAA of 0.40 % and ROTCE of 4.48 % for 1020 NASHVILLE , TN , April 19 , 2021 - Pinnacle Financial Partners , Inc. ( Nasdaq / NGS : PNFP ) reported net income per diluted common share of $ 1.61 for the quarter ended March 31 , 2021 , compared to net income per di luted common share of $ 0.37 for the quarter ended March 31 , 2020 , an increase of approximately 335 percent . Excluding other real estate ( ORE ) expense for the three months ended March 31 , 2021 and ORE expense and gains and losses on the sale of investment securities for the three months ended March 31 , 2020 , net income per diluted common share was $ 1.61 for the three months ended March 31 , 2021 , compared to $ 0.39 for the three months ended March 31 , 2020 , a year - over - year increase of nearly 313 percent . " We are very pleased with our operating results for the first quarter of this year , " said M. Terry Turner , Pinnacle's president and chief executive officer . " To report these results right out of the gate provides us even more optimism regarding our franchise and the difference that the high - performance culture we have built makes . Just recently , Fortune magazine , in concert with Great Place to Work® , notified us that we ranked as the 26th best place to work in 2020 in all of the United States in all industri es . " I believe our reputation as a great place to work has fueled our recruiting success against the large regional and national franchises we target . Following two incredibly successful years of recruiting experienced revenue producers , during the first quarter of 2021 we were off to another fast start , attracting 25 new revenue producers to our firm . We are excited to report diluted earnings per share of $ 1.61 , which is the most we have ever reported for a calendar quarter in our 20 year history . We also increased our book value per common share to $ 62.33 , which is also the highest it has ever been and up nearly 8 percent since March 31 , 2020. Over that same period our tangible book value per common share grew by more than 14 percent to $ 37.88 per common share , also a record . Our hiring pipelines remain strong , and we remain optimistic as we seek to produce both outsized earnings and tangible book value per share growth in 2021. " BALANCE SHEET GROWTH : • Loans at March 31 , 2021 were $ 23.1 billion , an increase of $ 2.7 billion from March 31 , 2020 , reflecting year - over- year growth of 13.2 percent . Loans at March 31 , 2021 increased approximately $ 662.2 million from Dec. 31,2020 . ° Loans at March 31 , 2021 include approximately $ 2.2 billion of loans issued pursuant to the Small Business Administration's ( SBA's ) Paycheck Protection Program ( PPP ) . The average yield on these loans was 4.51 percent for the first quarter of 2021 , inclusive of $ 17.8 million of loan fee accretion recognized in the quarter .