Pinnacle Financial Partners, Inc. · NYSE:PNFP
Pinnacle Financial Partners — Q2 2021 Earnings Presentation
67 slides from Pinnacle Financial Partners's earnings presentation, Jul 21, 2021
Slide 1: Investor Call Second Quarter 2021
Investor Call SECOND QUARTER 2021 JULY 21, 2021 Time: 8:30 AM CDT Webcast: www.pnfp.com (investor relations) Audio only: 877-602-7944 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO
Slide 2: Safe Harbor Statements: Forward Looking Statements
Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section
Slide 3: Safe Harbor Statements: Non-GAAP Financial Matters
Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, efficiency ratio and the ratio of noninterest expense to average assets, excluding in certain instances the impact of ex
Slide 4: 2Q21 Financial Dashboard
2Q21 Financial Dashboard Once again this quarter, most key success measures including core loan growth, core deposit growth, net interest income growth, fee income growth, pre-provision net revenue growth, asset quality and tangible book value accretion were very strong. 4
Slide 5: 2Q21 Summary Results of Key GAAP Measures
2Q21 Summary Results of Key GAAP Measures Total Revenues FD EPS Net Income Available to Common Shareholders Total Loans Total Deposits Book Value per Common Share (millions) (millions) Classified Asset Ratio NCOs NPA/ Loans & OREO 5
Slide 6: 2Q21 Summary Results of Key Non-GAAP Measures
2Q21 Summary Results of Key Non-GAAP Measures Adjusted Pre-Tax Pre-Provision Total Revenues* FD EPS* CAGR 25.5% CAGR 17.0% Net Income* CAGR 25.9% Total Core Deposits Total Loans (millions) Tangible Book Value per Share** CAGR 24.2% (millions) CAGR 28.8% CAGR 12.7% Classified Asset Ratio NPA/ Loans &
Slide 7: Understanding the Growth
Understanding the Growth We believe our advantaged markets, our long-standing model for attracting talent and demonstrable ability to “wow” our clients should yield best-in-class growth and has positioned us for the continued share grab that should be available given the stressed client loyalty for
Slide 8: PNFP's Differentiated Model Propels Outsized Growth
PNFP’s Differentiated Model Propels Outsized Growth Net promoting associates generate extraordinary opportunities ✓ Presence in 48% of the top 35 MSAs (12 of 25) ✓ Presence in 32% of the top 35 MSAs (8 of 25) ✓ 88% of deposits are in these markets ✓ 8% of deposits are in these markets Top 25 MSAs in
Slide 9: PNFP's Differentiated Model Propels Outsized Growth
PNFP’s Differentiated Model Propels Outsized Growth PNFP’s competitive landscape provides an extraordinary opportunity to take share and grow revenues Net Promoter Score – Total Footprint* Top 5 Average**: Top 10 Average**: Year-over-Year 40.2 51 Net change in Promoter Net Promoter Regional A FY 202
Slide 10: PNFP's Differentiated Model Propels Outsized Growth
PNFP’s Differentiated Model Propels Outsized Growth Promoters really do advocate 10
Slide 11: PNFP's Differentiated Model Propels Outsized Growth
PNFP’s Differentiated Model Propels Outsized Growth Obsession with the client experience permeates everything… 14 12 10 8 6 4 2 0 National A National B Regional A Regional B PNFP Percentage of National Assets Percentage of National PPP Loans *As of July 13, 2021 11 Sources: Federal Reserve bank asse
Slide 12: PNFP's Differentiated Model Propels Outsized Growth
PNFP’s Differentiated Model Propels Outsized Growth PPP is just another example of client-focused processes that yield even more PNFP promoters What Big Banks & Processors Said What Pinnacle Clients Said “I fully believe Trey’s 'diligence and vigilance' made the difference in our “[One SBA lender] s
Slide 13: PNFP's Differentiated Model Propels the Growth
PNFP’s Differentiated Model Propels the Growth PNFP’s client engagement was built on associate engagement Associate Engagement Scores “Win Together/ Lose Together” 2020 Associate Retention Yields an environment of equity • 99% of PNFP employees of color feel that management shows a sincere interest
Slide 14: 2Q21 Financial Information
2Q21 Financial Information Excluding the impact of PPP loans, loan growth rebounded in second quarter. Along with continued growth in core deposits and fees, 2Q21 was a strong core growth quarter for the franchise. 14
Slide 15: Linked-Quarter Annualized Average Loan Growth of 5.8% in 2Q21
PNFP had Linked-Quarter Annualized Average Loan Growth of 5.8% in 2Q21 Linked-quarter annualized average loan growth ex-PPP was 9.0% and we remain optimistic regarding 2H21 loan growth $24,000 Average Loan Growth 5.40% Annual Organic EOP Loan Growth^ $22,000 5.20% 20.0% $23,180 $22,848 $22,525 $22,4
Slide 16: Balance Sheet Growth Driven by Outsized Core Deposit Inflows
Balance Sheet Growth was Driven by Outsized Core Deposit Inflows Core deposit growth continues to outperform expectations Average Deposit Growth 2.70% Annual Core Deposit Growth $28,000 (excludes Day 1 merger impact) $28,014 $26,000 Core Deposit Growth Rates $27,621 2.40% 40.0% $27,193 $26,352 $24,0
Slide 17: Excess Liquidity Continues to Impact NIM
Excess Liquidity Continues to Impact NIM, Although Less in 2Q21 Rebound in loan demand should reduce elevated liquidity in coming quarters Reported NIM vs. Adjusted NIM 2Q21 Liquidity Highlights 3.40% 3.35% 3.28% 3.29% • Strong deposit growth and PPP forgiveness/payoff 3.30% 3.27% 3.25% 3.19% 3.22%
Slide 18: PNFP's Asset Quality Has Continued to Hold Up
PNFP’s Asset Quality Has Continued to Hold Up Asset quality metrics continue to remain stable going into the second half of 2021 Net Charge-offs Classified Asset Ratio NPA/ Loans & OREO Past Dues as a % of Total Loans 14.2% 13.9% 12.6% 0.55% 0.53% 11.2% 0.17% 0.17% 0.44% 0.38% 0.23% 6.8% 0.21% 0.20%
Slide 19: PNFP's Asset Quality: Credit Risk Management
PNFP’s Asset Quality Has Continued to Hold Up PNFP invested significant resources to manage credit risk Comprehensive Credit defense work completed during the 2nd quarter included a comprehensive review of: • Hotel loans $1MM and greater • All non-pass grade exposures > $500,000 Plan for the remaind
Slide 20: PNFP Grew Fees at a Double-Digit Rate YOY
PNFP Grew Fees at a Double-Digit Rate YOY BHG and other fee areas provided for substantial growth Linked-Quarter Annualized 2Q21 1Q21 2Q20 Growth % 2Q21 vs. 1Q21 • Investment services and trust fees are up due to an active Service charges $8,906 $8,307 $6,910 28.8% Investment services 8,997 8,191 5,
Slide 21: Expenses In-line with Expectations for 2Q21
Expenses In-line with Expectations for 2Q21 Incentives will be largest expense growth category in 2021, given below target payouts in 2020 Linked-Quarter Annualized 2Q21 vs. 1Q21 2Q21 1Q21 2Q20 Growth % • Incentive accruals for both the annual cash incentive and Salaries and employee benefits: Salar
Slide 22: Several Capital Initiatives in 2021
Several Capital Initiatives in 2021 Tangible book value per share growth remains our focus, but other capital initiatives will be considered Tangible Book Value per Share** • Dividends – • Increased dividends per common share to $0.18 from $0.16 in 1Q21 $39.77 $34.43 • Share Buy Back Program – $30.2
Slide 23: PNFP is Gaining Optimism about 2021
PNFP is Gaining Optimism about 2021 The results of the pandemic are not completely known, but we remain confident in our model 2021 Outlook – as of July 19, 2021 (Note) • The addition of the Huntsville and Birmingham, AL markets as well as the momentum in the Atlanta, GA market provide a reasonable
Slide 24: Bankers' Healthcare Group
Bankers’ Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful earnings to BHG and to Pinnacle. Capital and reserve levels support a very sound balance shee
Slide 25: BHG Loan Originations and Placements
The Pandemic Served to Validate the PNFP/BHG Model BHG continues to originate loans at record levels while maintaining yields $800 BHG Business Model Drives Outperformance Loan Originations and Placements $700 • 2Q21 was the 4th consecutive record highest origination $714 $600 $628 $500 quarter in t
Slide 26: BHG Credit Quality Continues to Impress
BHGPandemic The Credit Quality Continues Served to to PNFP/BHG Validate the Impress Model Sophisticated Recourse creditbuild obligation reserve scoring models was partially produce released in 2Q21 impressive results Recourse Obligation Reserves (Note) • Recourse obligation reserves decreased to 6.6
Slide 27: BHG Credit Quality Continues to Impress
BHG Credit Quality The Pandemic ServedContinues to Impress to Validate the PNFP/BHG Model Vintage analysis demonstrates Sophisticated continuous credit scoring improvement models in assetimpressive produce quality results • Historical credit results indicate that 70% of losses occur Historical FICO
Slide 28: BHG Future Growth Opportunities
The Pandemic Served to Validate the PNFP/BHG Model BHG believes its unique model is outperforming other online lenders by a wide margin Big plans at BHG and Future Growth opportunities • Deeper penetration for Core Product < 1% of market BHG Pre-Tax Profitability share currently • Expansion of credi
Slide 29: Q&A Second Quarter 2021
Q&A SECOND QUARTER 2021 einnacle FINANCIAL PARTNERS
Slide 30: Supplemental Information
Supplemental Information Slide # • Balance Sheet 31 • Income Statement 59 • Peer Group 66 30
Slide 31: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in millions) Amts. % Amts. % Amts. % Amts. %s 2Q21 2Q21 1Q21 1Q21 2Q20 2Q20 2Q19 2Q19 C&I $6,771.3 29.6% $6,355.1 27.5% $6,293.7 27.9% $5,795.1 30.8% C&I – Paycheck Protection Program 1,372.9 6.0% 2,221.4 9.6% 2,222.6 9.9% - - CRE – Owner Occ. 2,817.7 12.3% 2,869.8
Slide 32: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in millions) TOTAL PINNACLE TENNESSEE LOANS CAROLINAS/ VA LOANS ATLANTA OTHER UNIT LOANS* Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 C&I $6,711.3 $6,293.7 $4,698.9 $4,594.5 $897.8 $895.5 $51.2 $19.1
Slide 33: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in millions) TOTAL PINNACLE C&I & O/O CRE CRE & CONSTRUCTION OTHER LOANS* Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 Nashville $6,635.0 $6,681.3 $2,913.5 $2,991.1 $2,487.9 $2,603.2 $1,233.6 $1,087.0 Knoxville 1,776.4 1,77
Slide 34: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in millions) Amts. % Amts. % Amts. % Amts. % 2Q21 2Q21 1Q21 1Q21 2Q20 2Q20 2Q19 2Q19 Residential – Spec $232.7 1.0% $230.1 1.0% $321.7 1.4% $350.4 1.9% Residential – Custom 219.0 1.0% 210.6 0.9% 165.9 0.8% 129.5 0.7% Residential – Condo - 0.0% - 0.0% 1.2 0.0% 0.7 0.
Slide 35: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in millions) TOTAL PINNACLE TENNESSEE LOANS CAROLINAS/VA ATLANTA LOANS OTHER UNIT LOANS LOANS Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 Residential – Spec $232.7 $321.7 $155.2 $229.8 $76.4 $91.5 $0.
Slide 36: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in millions) Total NOO and Multifamily Total Construction Total NOO and Construction Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. Amts. 2Q21 1Q21 2Q20 2Q21 1Q21 2Q20 2Q21 1Q21 2Q20 Multifamily $713.5 $785.9 $590.4 $696.8 $602.1 $548.4 $1,410.3 $1,388.0 $1,138.8 H
Slide 37: PPP Program is a Differentiator for Pinnacle
PPP Program is a Differentiator for Pinnacle Pinnacle provided needed stimulus to smaller businesses in 2021 • Approximately $934 mm in fundings in 2021. Over 24,000 applications ($000’s) 2020 PPP 2021 PPP Totals and $3.4B in funding as of June 30, 2021 Total PPP fundings through June 30, 2021 $ 2,4
Slide 38: Asset Quality Has Continued to Hold Up
Asset Quality Has Continued to Hold Up COVID-impacted categories continue to outperform initial expectations Outstanding Balances % Nonperforming Loans % Classified Loans % Past Due > 30 days 2Q21 1Q21 2Q21 1Q21 2Q21 1Q21 2Q21 1Q21 Hotels NOO CRE & Construction $985,616 $987,773 0.00% 0.00% 0.45% 0.
Slide 39: Hotel Portfolio
Hotel Portfolio Amounts as of 6.30.21 Hotel Property Types Hotel Flags Other; 5.2% Economy; 4.4% PPP; 5.8% Other; 23.5% Extended Stay; 8.3% Marriott; 31.1% PPP; 5.8% Full Service; Limited Service; 21.7% 54.6% Independent; 3.2% Hilton; 22.4% Intercontinental; 7.8% Hyatt; 6.2% ADR, RevPAR & Occupancy
Slide 40: Top 10 Hotel Borrowers
Hotel Portfolio Amounts as of 6.30.21 Hotel Construction Type, Delivery Dates, Volumes Hotel Type (Construction) Hotel Flag (Construction) Other; 3.3% Other; 12.6% Hyatt; 8.0% Full Service; 35.0% Limited Service; Marriott; 52.4% 61.7% Hilton; 27.0% Exposure at CARES Act PNFP Hotel Property Type Desc
Slide 41: Restaurant Portfolio
Restaurant Portfolio Amounts as of 6.30.21 C&I and Owner-Occupied CRE Restaurant Borrowers with Exposure Greater than $10mm Restaurants by Type Exposure Bars/Drinking at 6.30.21 CARES Act Section Fine Dining; 3.0% Establishments; Location ('000s) LTV at 6.30.21 Food Service Type 4013 Modification 1.
Slide 42: Retail Portfolio
Retail Portfolio Amounts as of 6.30.21 CRE- NOO by Tenant Type 10 Largest Exposure at CARES Act Tenant Type Descriptions are as follows: Loan Regional Mall; 0% Retail 6.30.21 Tenant Type Section 4013 • Grocery Anchored Shopping Center is otherwise known as the “Neighborhood Center”, Retail Power Cen
Slide 43: Entertainment Portfolio
Entertainment Portfolio Entertainment by Type SBA PPP; 5.2% Motion Picture 10 Largest Industry; 0.7% Entertainment Exposure at CARES Act Relationships 6.30.21 Entertainment Section 4013 ('000) ('000s) Loan Type Type Modification Performers, United Kingdom $50,000 C&I Recording Industry No Agents & H
Slide 44: Balance Sheet – Loan Portfolio Lines of Credit
Balance Sheet – Loan Portfolio Lines of Credit ($'s in millions) Linked Qtr. 12/31/2019 3/31/2020 6/30/2020 9/30/2020 12/31/2020 3/31/2021 6/30/2021 Change CRE – Investment & Construction Net Active Balance $3,870.10 $3,929.10 $4,090.80 $4,067.10 $4,106.82 $4,051.74 $3,921.54 -$130.20 Net Available
Slide 45: Current Expected Credit Losses
Current Expected Credit Losses Total Allowance for Credit Losses for loans = $273.7 mm or 1.20% of loans at June 30, 2021, or 1.27% excluding PPP loans Allowance for Off-Balance Forecasted economic metrics(1) % of Loans Total Credit Losses Sheet Base Case Outlook at: 3Q21 4Q21 1Q22 2Q22 At December
Slide 46: Current Expected Credit Losses
Current Expected Credit Losses June 30, 2020 September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 CECL CECL CECL CECL CECL Allowance for Credit Losses Amount % of Loans Amount % of Loans Amount % of Loans Amount % of Loans Amount % of Loans Commercial and Industrial $ 100,610 1.60% * $
Slide 47: Asset Quality
Asset Quality AS A % OF AS A % OF AS A % OF ($ in millions) June 30, 2021 March 31, 2021 June 30, 2020 TOTAL LOANS TOTAL LOANS TOTAL LOANS NPLs and > 90 days Const. and land development $1,082 0.00% $1,558 0.01% $3,230 0.01% Consumer RE 17,472 0.08% 19,778 0.09% 23,255 0.10% CRE – Owner Occupied 2,5
Slide 48: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio Net Commercial Loan Charge Offs by Loan Type Net Consumer Loan Charge Offs by Loan Type 0.60% 3.00% 0.50% 2.50% 0.40% 2.00% 0.30% 1.50% 0.20% 1.00% 0.10% 0.50% 0.00% -0.10% 0.00% -0.20% -0.50% CRE Construction C&I Net commercial charge Consumer RE Consumer and other Ne
Slide 49: Balance Sheet – Loan Portfolio
Balance Sheet – Loan Portfolio ($ in thousands) Description 2Q21 1Q21 4Q20 3Q20 2Q20 1Q20 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residential construction loans $556,052 $548,614 $514,819 $527,743 $580,193 $582,106 Other construction loans and all la
Slide 50: Balance Sheet – Deposit Portfolio
Balance Sheet – Deposit Portfolio ($ in millions) TOTAL DEPOSITS CORE DEPOSITS NONCORE DEPOSITS TOTAL PINNACLE TRANSACTION AND MMDA CDs PUBLIC FUNDS and OTHER DEPOSITS 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 2Q20 Nashville $11,648.9 $9,319.6 $11,028.6 $8,515.1 $425.1 $529.2 $195.2 $275.3 Knoxville 2,415.
Slide 51: Balance Sheet – Bond Portfolio
Balance Sheet – Bond Portfolio Conservative bond portfolio Portfolio: June 30, 2021 Total Investments $5.3 billion Net Unrealized Gain $110.0 million 2.2% Quarter Duration Avg. Yield- TE 10.1% 2Q21 4.3% 2.3% 1Q21 4.8% 2.3% 4Q20 4.4% 2.3% 47.9% 3Q20 4.7% 2.4% 33.0% 2Q20 4.6% 2.6% 1Q20 4.3% 2.8% 4Q19
Slide 52: Balance Sheet – Bond Portfolio
Balance Sheet – Bond Portfolio 4.00 40.0 Effective Bond Portfolio Composition End of Period 3.50 35.0 80% 3.00 30.0 78% 76% 76% 75% % of Total Assets 2.50 2.25 25.0 Bond Yields 2.00 20.0 1.50 15.0 15.0 1.00 10.0 24% 24% 25% 0.50 5.0 22% 20% - - 2016Q4 2018Q3 2016Q2 2016Q3 2017Q1 2017Q2 2017Q3 2017Q4
Slide 53: Interest Rate Sensitivity
Interest Rate Sensitivity ▪ Change since 3/31 largely due to unwinding of $1.5 billion loan floor; locked in $46.5 million gain and freed up floating rate assets ▪ Numerous options available (or already undertaken) to Bank to increase asset sensitivity when the timing is right: ▪ PPP forgiveness pro
Slide 54: NIM Adjusted for PPP and Liquidity Impact
NIM Adjusted for PPP and Liquidity Impact Estimate PPP and Liquidity Build negatively impacted 2Q21 NIM by 0.17% Adjusted Avg Adjusted ProForma Adj. Yield/ Actual Avg Balances ProForma Balances after PF ProForma Interest after Yield/ Rate Rates after 2Q21 Adjustments Entries Interest Adjustments PF
Slide 55: NIM Adjusted for PPP and Liquidity Impact
NIM Adjusted for PPP and Liquidity Impact Estimate PPP and Liquidity Build negatively impacted 1Q21 NIM by 0.27% Adjusted Avg Adjusted ProForma Adj. Yield/ Actual Avg Balances ProForma Balances after PF ProForma Interest after Yield/ Rate Rates after 1Q21 Adjustments Entries Interest Adjustments PF
Slide 56: NIM Adjusted for PPP and Liquidity Impact
NIM Adjusted for PPP and Liquidity Impact Estimate PPP and Liquidity Build negatively impacted 4Q20 NIM by 0.29% Adjusted Avg Adjusted ProForma Adj. Yield/ Actual Avg Balances ProForma Balances after PF ProForma Interest after Yield/ Rate Rates after 4Q20 Adjustments Entries Interest Adjustments PF
Slide 57: NIM Adjusted for PPP and Liquidity Impact
NIM Adjusted for PPP and Liquidity Impact Estimate PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% Adjusted Avg Adjusted ProForma Adj. Yield/ Actual Avg Balances ProForma Balances after PF ProForma Interest after Yield/ Rate Rates after 3Q20 Adjustments Entries Interest Adjustments PF
Slide 58: NIM Adjusted for PPP and Liquidity Impact
NIM Adjusted for PPP and Liquidity Impact Estimate PPP and Liquidity Build negatively impacted 2Q20 NIM by 0.32% Adjusted Avg Adjusted ProForma Adj. Yield/ Actual Avg Balances ProForma Balances after PF ProForma Interest after Yield/ Rate Rates after 2Q20 Adjustments Entries Interest Adjustments PF
Slide 59: Income Statement – Revenue per Common Share
Income Statement – Revenue per Common Share LTM Revenue Per Share Growth* vs. Peers $17.00 $16.51 18.0% $16.50 17.5% 16.0% $16.00 $15.78 14.5% $15.50 13.8% $15.07 14.0% 13.0% 13.0% 13.0% $15.00 Y/Y Revenue per Share Growth 11.9% 11.9% $14.50 11.6% 11.6% $14.35 11.3% 11.3% 12.0% $14.05 Revenue per Sh
Slide 60: Income Statement – Mortgage Volumes
Income Statement – Mortgage Volumes $625,000 5.00% $550,000 4.50% $475,000 4.00% $400,000 3.50% $325,000 3.00% $250,000 2.50% $175,000 2.00% $100,000 1.50% $25,000 1.00% Purchase Money Refinance Gross fees as a % of loans originated 60
Slide 61: Income Statement – PPNR
Income Statement – PPNR ($'s in thousands) 2017 2018 2019 2020 YTD 2021 Adjusted PPNR PPNR Trends $700 Net interest income $543,306 $ 736,342 $ 766,142 $821,788 $456,095 Noninterest income 144,904 200,850 263,826 317,840 190,916 $600 Noninterest expense (366,560) (452,867) (505,148) (576,536) 320,83
Slide 62: BHG Financials
BHG Financials Strong equity to support business model • Strong performance in 2Q21 • Strong cash position to provide increased liquidity and, thus, better withstand any Pandemic losses At Jun 30, At Mar 31, At Jun 30, 2021 2021 2020 2Q 2021 1Q 2021 2Q 2020 Cash and Cash Equivalents $ 240,568,014 $
Slide 63: Income Statement: Reconciliation of Non-GAAP Financial Measures
Income Statement Reconciliation of Non-GAAP Financial Measures 63
Slide 64: Income Statement: Reconciliation of Non-GAAP Financial Measures
Income Statement Reconciliation of Non-GAAP Financial Measures 64
Slide 65: Income Statement: Reconciliation of Non-GAAP Financial Measures
Income Statement Reconciliation of Non-GAAP Financial Measures 65
Slide 66: Peer Group
Peer Group Institution Name Ticker City, State Pinnacle Financial Partners PNFP Nashville, TN Valley National Bancorp VLY Wayne, NJ BancorpSouth, Inc. BXS Tupelo, MS Bank of the Ozarks, Inc. OZK Little Rock, AR Simmons First National Corp. SFNC Pine Bluff, AR F.N.B. Corporation FNB Pittsburgh, PA Cu
Slide 67: Investor Call Second Quarter 2021
Investor Call SECOND QUARTER 2021 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO
Pinnacle Financial Partners — Q2 2021 Earnings Presentation on 6ix