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Pinnacle FINANCIAL PARTNERS FOR IMMEDIATE RELEASE MEDIA CONTACT : FINANCIAL CONTACT : WEBSITE : SM Joe Bass , 615-743-8219 Harold Carpenter , 615-744-3742 www.pnfp.com PNFP REPORTS DILUTED EPS OF $ 1.69 , ROAA OF 1.46 % AND ROTCE OF 17.32 % FOR 2Q2021 Net interest income grew 18.6 % annualized and fee income grew 23.7 % annualized NASHVILLE , TN , July 20 , 2021 - Pinnacle Financial Partners , Inc. ( Nasdaq / NGS : PNFP ) reported net income per diluted common share of $ 1.69 for the quarter ended June 30 , 2021 , compared to net income per diluted common share of $ 0.83 for the quarter ended June 30 , 2020 , an increase of approximately 104 percent . Excluding gains and losses on the sale of investment securities and ORE expense for the three months ended June 30 , 2021 and 2020 and FHLB restructuring charges for the three months ended June 30 , 2020 , net income per diluted common share was $ 1.68 for the three months ended June 30 , 2021 , compared to $ 0.89 for the three months ended June 30 , 2020 , a year - over - year increase of nearly 89 percent . Net income per diluted common share was $ 3.30 for the six months ended June 30 , 2021 , compared to net income per diluted common share of $ 1.20 for the six months ended June 30 , 2020 , an increase of 175 percent . Excluding gains and losses on the sale of investment securities and other real estate ( ORE ) expense for the six months ended June 30 , 2021 and 2020 and FHLB restructuring charges for the six months ended June 30 , 2020 , net income per diluted common share was $ 3.29 in 2021 , compared to $ 1.28 in 2020 , a year - over - year increase of 157 percent . " Second quarter was another outstanding quarter for our firm , " said M. Terry Turner , Pinnacle's president and chief executive officer . " We continued to exploit opportunities to hire leading revenue producers from many of the larger institutions in our markets as we added 36 revenue producers during the quarter . This brings our total revenue producers onboarded in the last two and a half years to 216 associates . Within that , we now have 15 revenue producers located in Atlanta , and our recent announcements in Huntsville and Birmingham include seven revenue producers . Across our entire franchise , approximately 25 percent of our revenue producers have been with our firm for less than two and a half years , all while maintaining an overall associate retention rate of 93 percent , which we expect to result in significant incremental revenue growth as these new associates introduce their clients to our award - winning service . " The impact of our previous hiring successes appear evident in our second quarter's performance for key metrics . While total loans declined 0.8 percent on a linked quarter basis , after excluding the $ 848.5 million reduction of PPP loans , our remaining loans grew 12.6 percent on a linked - quarter annualized basis . Linked - quarter annualized core deposit growth was 14.2 percent . Year - over - year growth in wealth management fees was 35.4 percent . And linked - quarter annualized growth in revenue per share was 19.2 percent . Not only are we optimistic about the impact our hiring to date will have on key growth metrics going forward , we also expect to continue attracting many of the best bankers in our markets in order to further propel our growth going forward . " 1