Pinnacle Financial Achieves Quarterly Record for Pre-Tax Net Income

  Pinnacle Financial Achieves Quarterly Record for Pre-Tax Net Income

             Fully diluted EPS up 86% over same quarter last year

Business Wire

NASHVILLE, Tenn. -- April 15, 2013

Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today reported net income
available to common stockholders of $13.4 million in the quarter ended March
31, 2013, up from net income available to common stockholders of $7.2 million
for the same quarter in 2012. Net income per diluted common share was $0.39
for the quarter ended March 31, 2013, compared to net income per diluted
common share of $0.21 for the quarter ended March 31, 2012, an increase of
85.7 percent.

“With our balance sheet rehabilitation largely behind us, growing the core
earnings capacity of this firm is our No. 1 priority,” said M. Terry Turner,
Pinnacle’s president and chief executive officer. “For many financial metrics,
including pre-tax net income and return on average assets (ROAA), we are now
operating at higher levels than ever before in the history of the firm. These
results demonstrate significant core earnings growth and further validate our
potential to reach our long-term profitability targets.”

Growing the Core Earnings Capacity of the Firm

  *Loans at March 31, 2013 were a record $3.772 billion, an increase of $60.2
    million from Dec. 31, 2012, and $434.5 million from March 31, 2012, a
    year-over-year growth rate of 13.0 percent.
  *Average balances of noninterest bearing deposit accounts were $952.9
    million in the first quarter of 2013, down 2.6 percent from the fourth
    quarter of 2012 and up 35.8 percent over the same quarter last year.
  *Revenues excluding securities gains for the quarter ended March 31, 2013
    were a record $54.7 million, compared to $53.4 million last quarter and
    $49.5 million for the same quarter last year. Revenues excluding
    securities gains for the quarter ended March 31, 2013 were up 2.4 percent
    on a linked-quarter basis and 10.8 percent over the same quarter last
    year.
  *Net interest margin increased for the 10^th consecutive quarter to 3.90
    percent for the quarter ended March 31, 2013, up from 3.80 percent last
    quarter and from 3.74 percent for the quarter ended March 31, 2012.
  *The firm’s efficiency ratio for the quarter ended March 31, 2013, was 59.4
    percent compared to 63.0 percent last quarter and 72.4 percent for the
    same quarter last year. The firm’s efficiency ratio, excluding the $721.0
    thousand in ORE expense and $876.5 thousand of charges related to the
    restructuring of $35.0 million of FHLB advances, was 56.4 percent for the
    first quarter of 2013.
  *Pre-tax pre-provision net income was $22.2 million for the quarter ended
    March 31, 2013, up 8.4 percent over the last quarter of 2012 and 63.0
    percent over the same quarter last year.

“Our strategy to achieve our long-term profitability targets centers on our
ability to produce continued meaningful loan and revenue growth with our
existing infrastructure,” Turner said. “Despite another quarter of significant
loan pay-downs, we were able to increase our net loans by $60.2 million during
the first quarter. That’s a 13 percent year-over-year increase, slightly
better than the cumulative annual growth rate required to achieve the
three-year target we originally published in the fourth quarter of 2011.

“Excluding securities gains our first quarter 2013 top-line revenues represent
a record for our firm. We expect to continue increasing our revenues while
attempting to reduce the increases in our expenses. Therefore, we continue to
believe a 1.10 to 1.30 percent ROAA target remains an appropriate
profitability target for this firm.”

OTHER FIRST QUARTER 2013 HIGHLIGHTS:

  *Revenue growth

       *Net interest income for the quarter ended March 31, 2013, was $42.8
         million, compared to $42.2 million in the fourth quarter of 2012 and
         $39.5 million for the first quarter of 2012. Net interest income for
         the first quarter of 2013 was up 8.4 percent year over year and at
         its highest quarterly level since the firm’s founding in 2000.
       *Noninterest income for the quarter ended March 31, 2013, was $11.9
         million, compared to $13.1 million for the fourth quarter of 2012 and
         $9.9 million for the same quarter last year. Excluding securities
         gains, noninterest income was up 7.03 percent on a linked-quarter
         basis, 21.0 percent over the same quarter last year and at its
         highest quarterly level since the firm’s founding.

            *Gains on mortgage loans sold, net of commissions, were $1.81
              million during the first quarter of 2013, compared to $1.77
              million during the fourth quarter of 2012 and $1.49 million
              during the first quarter of 2012.
            *Other noninterest income for the first quarter of 2013 increased
              by $709,000 over the fourth quarter of 2012 and by $1.19 million
              over the first quarter of last year. These increases were
              primarily attributable to increased interchange revenues and
              swap fees on commercial lending opportunities.

“We are extremely pleased with a 21 percent annual growth rate for noninterest
income exclusive of securities gains,” said Harold R. Carpenter, Pinnacle’s
chief financial officer. “Much like the industry as a whole, we have enjoyed
the benefit of higher than normal revenues from mortgage origination due to
elevated mortgage refinance levels. Nevertheless, the principal drivers of our
growth in noninterest income have been deposit and wealth management fees,
which we believe to be more sustainable over the long term than noninterest
income attributable to the mortgage refinance market.

“We experienced a significant increase in our net interest margin this quarter
due primarily to increases in average loan balances and continued reductions
in funding costs. These positives were offset in part by a decrease in loan
yields, which we expect will continue to be a challenge for all banks in
coming quarters. Our current margin forecast for 2013 of 3.70 to 3.80 percent
is consistent with the margin expectations that we outlined at the end of last
quarter.”

  *Noninterest and income tax expense

       *Noninterest expense for the quarter ended March 31, 2013, was $32.4
         million, compared to $34.9 million in the fourth quarter of 2012 and
         $35.8 million in the first quarter of 2012.

            *Salaries and employee benefits costs were relatively flat from
              the fourth quarter of 2012 and decreased 1.11 percent from the
              same period last year.
            *Other real estate expenses were $721 thousand in the first
              quarter of 2013, compared to $1.36 million in the fourth quarter
              of 2012 and $4.68 million in the first quarter of 2012.

       *Income tax expense was $6.60 million for the first quarter of 2013,
         compared to $4.2 million in the first quarter of 2012 and $6.28
         million in the fourth quarter of 2012, resulting in an effective tax
         rate for the first quarter of 2013 of 32.9 percent.

Carpenter also noted that the firm was diligently managing its expense
infrastructure and that, exclusive of ORE expenses and FHLB restructuring
charges, he anticipated expense increases for 2013 of 2 to 3 percent over
2012.

  *Asset Quality

       *Nonperforming assets declined by $2.76 million from Dec. 31, 2012, a
         linked-quarter reduction of 6.7 percent and the 11th consecutive
         quarterly reduction. Nonperforming assets were 1.02 percent of total
         loans and ORE at March 31, 2013, compared to 2.28 percent for the
         same quarter last year and 1.11 percent last quarter.
       *Classified assets as a percentage of Tier 1 capital plus allowance
         were 26.4 percent at March 31, 2013, compared to 29.4 percent last
         quarter and 39.3 percent for the same quarter last year.
       *Allowance for loan losses represented 1.84 percent of total loans at
         March 31, 2013, compared to 1.87 percent at Dec. 31, 2012, and 2.14
         percent at March 31, 2012. The ratio of the allowance for loan losses
         to nonperforming loans increased to 317.9 percent at March 31, 2013,
         from 304.2 percent at Dec. 31, 2012, and 166.6 percent at March 31,
         2012.

            *Net charge-offs were $2.18 million for the quarter ended March
              31, 2013, compared to $3.63 million for the quarter ended March
              31, 2012, and $2.16 million for the fourth quarter of 2012.
              Annualized net charge-offs for the quarter ended March 31, 2013,
              were 0.24 percent compared to 0.45 percent for the quarter ended
              March 31, 2012.
            *Provision for loan losses increased from $1.03 million for the
              first quarter of 2012 to $2.17 million for the first quarter of
              2013.

Pinnacle reported nonaccrual loan inflows of $8.4 million for the first
quarter of 2013, compared to $5.9 million in the fourth quarter of 2012 and
$14.3 million for the first quarter of 2012. Nonaccrual loan resolutions were
$8.9 million in the first quarter of 2013, compared to $19.1 million in the
fourth quarter of 2012 and $15.1 million in the first quarter of 2012.

“With respect to credit quality, we continued to see improvement in the first
quarter on virtually all key measures,” Carpenter said. “Having largely
completed the rehabilitation of our loan portfolio, our current belief is that
we will continue to experience modest improvement in our credit metrics over
the remainder of this year.”

WEBCAST AND CONFERENCE CALL INFORMATION

Pinnacle will host a webcast and conference call at 8:30 a.m. (CDT) on April
16, 2013, to discuss first quarter 2013 results and other matters. To access
the call for audio only, please call 1-877-602-7944. For the presentation and
streaming audio, please access the webcast on the investor relations page of
Pinnacle's website at www.pnfp.com.

For those unable to participate in the webcast, it will be archived on the
investor relations page of Pinnacle's website at www.pnfp.com for 90 days
following the presentation.

Pinnacle Financial Partners provides a full range of banking, investment,
mortgage and insurance products and services designed for small- to mid-sized
businesses and their owners and individuals interested in a comprehensive
relationship with their financial institution. Comprehensive wealth management
services, such as financial planning and trust, help clients increase, protect
and distribute their assets.

The firm began operations in a single downtown Nashville location in Oct. 2000
and has since grown to almost $5.1 billion in assets at March 31, 2013. At
March 31, 2013, Pinnacle is the second-largest bank holding company
headquartered in Tennessee, with 29 offices in eight Middle Tennessee counties
and three offices in Knoxville.

Additional information concerning Pinnacle can be accessed at www.pnfp.com.

Certain of the statements in this release may constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
The words "expect," "anticipate," “goal,” “objective,” "intend," "plan,"
"believe," ”should,” "seek," ”estimate" and similar expressions are intended
to identify such forward-looking statements, but other statements not based on
historical information may also be considered forward-looking. All
forward-looking statements are subject to risks, uncertainties and other
factors that may cause the actual results, performance or achievements of
Pinnacle Financial to differ materially from any results expressed or implied
by such forward-looking statements. Such risks include, without limitation,
(i) deterioration in the financial condition of borrowers resulting in
significant increases in loan losses and provisions for those losses; (ii)
continuation of the historically low short-term interest rate environment;
(iii) the inability of Pinnacle Financial to grow its loan portfolio in the
Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA; (iv)
changes in loan underwriting, credit review or loss reserve policies
associated with economic conditions, examination conclusions, or regulatory
developments; (v) effectiveness of Pinnacle Financial’s asset management
activities in improving, resolving or liquidating lower-quality assets; (vi)
increased competition with other financial institutions; (vii) greater than
anticipated adverse conditions in the national or local economies including
the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville MSA,
particularly in commercial and residential real estate markets; (viii) rapid
fluctuations or unanticipated changes in interest rates; (ix) the results of
regulatory examinations; (x) the ability to retain large, uninsured deposits
with the expiration of the FDIC’s transaction account guarantee program (xi)
the development of any new market other than Nashville or Knoxville; (xii) a
merger or acquisition; (xiii) any matter that would cause Pinnacle Financial
to conclude that there was impairment of any asset, including intangible
assets; (xiv) the ability to attract additional financial advisors or to
attract customers from other financial institutions; (xv) further
deterioration in the valuation of other real estate owned and increased
expenses associated therewith; (xvi) inability to comply with regulatory
capital requirements, including those resulting from currently proposed
changes to capital calculation methodologies and required capital maintenance
levels; and, (xvii) changes in state and federal legislation, regulations or
policies applicable to banks and other financial service providers, including
regulatory or legislative developments arising out of current unsettled
conditions in the economy, including implementation of the Dodd-Frank Wall
Street Reform and Consumer Protection Act. A more detailed description of
these and other risks is contained in Pinnacle Financial's most recent annual
report on Form 10-K filed with the Securities and Exchange Commission on
February 22, 2013. Many of such factors are beyond Pinnacle Financial's
ability to control or predict, and readers are cautioned not to put undue
reliance on such forward-looking statements. Pinnacle Financial disclaims any
obligation to update or revise any forward-looking statements contained in
this release, whether as a result of new information, future events or
otherwise.

                                                          
PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS – UNAUDITED
                                                             
                                       March 31, 2013     December 31, 2012
ASSETS
Cash and noninterest-bearing due from    $ 57,906,350        $ 51,946,542
banks
Interest-bearing due from banks            38,860,678          111,535,083
Federal funds sold and other              2,792,238        1,807,044     
Cash and cash equivalents                  99,559,266          165,288,669
                                                             
Securities available-for-sale, at fair     683,545,006         706,577,806
value
Securities held-to-maturity (fair
value of $40,376,745 and $583,212 at       40,458,642          574,863
March 31, 2013 and December 31, 2012,
respectively)
Mortgage loans held-for-sale               30,326,709          41,194,639
                                                             
Loans                                      3,772,363,758       3,712,162,430
Less allowance for loan losses            (69,411,493   )   (69,417,437   )
Loans, net                                 3,702,952,265       3,642,744,993
                                                             
Premises and equipment, net                75,760,671          75,804,895
Other investments                          27,311,943          26,962,890
Accrued interest receivable                16,940,917          14,856,615
Goodwill                                   244,011,793         244,040,421
Core deposit and other intangible          4,582,286           5,103,273
assets
Other real estate owned                    16,802,183          18,580,097
Other assets                              128,683,433      98,819,455    
Total assets                             $ 5,070,935,114   $ 5,040,548,616 
                                                             
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest-bearing                      $ 977,495,990       $ 985,689,460
Interest-bearing                           788,631,493         760,786,247
Savings and money market accounts          1,564,517,135       1,662,256,403
Time                                      572,250,233      606,455,873   
Total deposits                             3,902,894,851       4,015,187,983
Securities sold under agreements to        129,099,508         114,667,475
repurchase
Federal Home Loan Bank advances            200,796,066         75,850,390
Subordinated debt and other borrowings     105,533,292         106,158,292
Accrued interest payable                   1,235,441           1,360,598
Other liabilities                         39,942,214       48,252,519    
Total liabilities                          4,379,501,372       4,361,477,257
                                                             
Stockholders’ equity:
Preferred stock, no par value;
10,000,000 shares authorized; no           -                   -
shares issued and outstanding
Common stock, par value $1.00;
90,000,000 shares authorized;
35,022,487 shares and 34,696,597           35,022,487          34,696,597
shares issued and outstanding at March
31, 2013 and December 31, 2012,
respectively
Additional paid-in capital                 544,619,717         543,760,439
Retained earnings                          100,834,814         87,386,689
Accumulated other comprehensive           10,956,724       13,227,634    
income, net of taxes
Stockholders’ equity                      691,433,742      679,071,359   
Total liabilities and stockholders’      $ 5,070,935,114   $ 5,040,548,616 
equity
                                                             
This information is preliminary and based on company data available at the
time of the presentation.



PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
                                                               
                                                   Three Months Ended
                                                   March 31,
                                                 2013          2012
Interest income:
Loans, including fees                              $ 41,514,213   $ 38,637,719
Securities
Taxable                                              3,670,934      4,929,284
Tax-exempt                                           1,656,408      1,703,146
Federal funds sold and other                        314,772      553,939
Total interest income                               47,156,327   45,824,088
                                                                  
Interest expense:
Deposits                                             3,412,396      4,827,476
Securities sold under agreements to repurchase       77,816         155,576
Federal Home Loan Bank advances and other           907,641      1,337,031
borrowings
Total interest expense                              4,397,853    6,320,083
Net interest income                                  42,758,474     39,504,005
Provision for loan losses                           2,172,404    1,034,245
Net interest income after provision for loan         40,586,070     38,469,760
losses
                                                                  
Noninterest income:
Service charges on deposit accounts                  2,480,244      2,323,962
Investment services                                  1,792,640      1,646,778
Insurance sales commissions                          1,393,304      1,287,560
Gain on mortgage loans sold, net                     1,813,488      1,494,472
Gain on sale of investment securities, net           -              113,600
Trust fees                                           944,332        795,435
Other noninterest income                            3,478,348    2,287,531
Total noninterest income                            11,902,356   9,949,338
                                                                  
Noninterest expense:
Salaries and employee benefits                       19,572,356     19,792,566
Equipment and occupancy                              5,113,050      5,008,655
Other real estate expense                            720,962        4,676,064
Marketing and other business development             790,671        785,325
Postage and supplies                                 591,488        563,294
Amortization of intangibles                          520,987        686,067
Other noninterest expense                           5,130,495    4,307,735
Total noninterest expense                           32,440,009   35,819,706
Income before income taxes                           20,048,417     12,599,392
Income tax expense                                  6,600,292    4,234,438
Net income                                           13,448,125     8,364,954
Preferred dividends                                  -              900,519
Accretion on preferred stock discount               -            258,647
Net income available to common stockholders        $ 13,448,125  $ 7,205,788
                                                                  
Per share information:
Basic net income per common share available to     $ 0.40        $ 0.21
common stockholders
Diluted net income per common share available      $ 0.39        $ 0.21
to common stockholders
                                                                  
Weighted average shares outstanding:
Basic                                                33,987,265     33,811,871
Diluted                                              34,206,202     34,423,898
                                                                  
This information is preliminary and based on company data available at the
time of the presentation.


                                                                                        
PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
                                    
                                                                                  
                     March           December      September     June          March         December
(dollars in          2013           2012         2012         2012         2012         2011
thousands)
                                                                                              
Balance sheet data,
at quarter end:
Commercial real
estate - mortgage     $ 1,278,639     1,178,196     1,167,136     1,167,068     1,123,690     1,110,962
loans
Consumer real
estate - mortgage       675,632       679,927       680,890       687,002       688,817       695,745
loans
Construction and
land development        306,433       313,552       312,788       289,061       281,624       274,248
loans
Commercial and          1,403,428     1,446,577     1,279,050     1,227,275     1,180,578     1,145,735
industrial loans
Consumer and other      108,232       93,910        85,300        74,277        63,160        64,661
Total loans             3,772,364     3,712,162     3,525,164     3,444,683     3,337,869     3,291,351
Allowance for loan      (69,411   )   (69,417   )   (69,092   )   (69,614   )   (71,379   )   (73,975   )
losses
Securities              724,004       707,153       739,280       790,493       839,769       897,292
Total assets            5,070,935     5,040,549     4,871,386     4,931,878     4,789,583     4,863,951
Noninterest-bearing     977,496       985,689       844,480       806,402       756,909       717,379
deposits
Total deposits          3,902,895     4,015,188     3,719,287     3,709,820     3,605,291     3,654,339
Securities sold
under agreements to     129,100       114,667       134,787       127,623       118,089       131,591
repurchase
FHLB advances           200,796       75,850        190,887       270,995       226,032       226,069
Subordinated debt
and other               105,533       106,158       106,783       122,476       97,476        97,476
borrowings
Total stockholders’     691,434       679,071       672,824       659,287       718,665       710,145
equity
                                                                                              
Balance sheet data,
quarterly averages:
Total loans           $ 3,681,686     3,580,056     3,488,736     3,402,671     3,280,030     3,261,972
Securities              714,104       719,861       766,547       818,795       875,509       924,153
Total earning           4,513,273     4,493,216     4,379,742     4,365,715     4,316,973     4,347,352
assets
Total assets            4,992,018     4,964,521     4,860,394     4,847,583     4,820,951     4,852,311
Noninterest-bearing     952,853       978,366       799,508       755,594       701,760       705,580
deposits
Total deposits          3,949,742     3,883,423     3,705,672     3,636,240     3,597,271     3,641,845
Securities sold
under agreements to     130,740       142,333       136,918       130,711       129,892       141,818
repurchase
FHLB advances           98,989        124,781       214,271       232,606       238,578       209,619
Subordinated debt
and other               106,777       108,489       112,406       101,872       97,476        97,476
borrowings
Total stockholders’     688,241       680,383       669,673       718,841       719,788       729,622
equity
                                                                                              
Statement of
operations data,
for the three
months ended:
Interest income       $ 47,156        47,203        46,441        45,953        45,824        46,446
Interest expense       4,398       4,960       5,509       5,768       6,320       7,153     
Net interest income     42,758        42,243        40,932        40,185        39,504        39,293
Provision for loan     2,172       2,488       1,413       634         1,034       5,439     
losses
Net interest income
after provision for     40,586        39,755        39,519        39,551        38,470        33,854
loan losses
Noninterest income      11,902        13,108        10,430        9,910         9,949         9,727
Noninterest expense    32,440      34,851      33,578      33,916      35,820      34,374    
Income before taxes     20,048        18,012        16,371        15,545        12,599        9,207
Income tax expense      6,600         6,282         5,022         5,106         4,234         1,447
Preferred dividends    -           -           -           2,655       1,159       2,079     
and accretion
Net income
available to common   $ 13,448      11,730      11,349      7,785       7,206       5,681     
stockholders
                                                                                              
Profitability and
other ratios:
Return on avg.          1.09      %   0.94      %   0.93      %   0.65      %   0.60      %   0.46      %
assets (1)
Return on avg.          7.92      %   6.86      %   6.74      %   4.36      %   4.03      %   3.09      %
equity (1)
Return on avg.          12.32     %   10.85     %   10.76     %   7.58      %   6.13      %   4.93      %
tangible equity (1)
Net interest margin     3.90      %   3.80      %   3.78      %   3.76      %   3.74      %   3.65      %
(1) (2)
Noninterest income
to total revenue        21.77     %   23.68     %   20.31     %   19.78     %   20.12     %   19.84     %
(3)
Noninterest income      0.97      %   1.05      %   0.85      %   0.82      %   0.83      %   0.80      %
to avg. assets (1)
Noninterest exp. to     2.64      %   2.79      %   2.75      %   2.81      %   2.99      %   2.81      %
avg. assets (1)
Noninterest expense
(excluding ORE and
FHLB prepayment         2.46      %   2.52      %   2.55      %   2.56      %   2.60      %   2.50      %
charges) to avg.
assets (1)
Efficiency ratio        59.35     %   62.96     %   65.38     %   67.70     %   72.43     %   70.12     %
(4)
Avg. loans to           93.21     %   92.19     %   94.15     %   93.58     %   91.18     %   89.57     %
average deposits
Securities to total     14.28     %   14.03     %   15.18     %   16.03     %   17.53     %   18.45     %
assets
                                                                                              
                                                                                              
This information is preliminary and based on company data available at the time of the presentation.



PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED
                                                                          
                     Three months ended                Three months ended
(dollars in          March 31, 2013                   March 31, 2012
thousands)
                      Average      Interest  Rates/  Average      Interest  Rates/
                      Balances                 Yields   Balances                 Yields
Interest-earning
assets
Loans ^ (1)           $ 3,681,686   $ 41,514   4.58 %   $ 3,280,030   $ 38,638   4.74 %
Securities
Taxable                 537,951       3,671    2.77 %     688,645       4,929    2.88 %
Tax-exempt ^ (2)        176,153       1,656    5.09 %     186,864       1,703    4.90 %
Federal funds sold     117,483     315     1.25 %   161,434     554     1.50 %
and other
Total
interest-earning        4,513,273   $ 47,156  4.30 %     4,316,973   $ 45,824  4.33 %
assets
Nonearning assets
Intangible assets       248,940                           251,668
Other nonearning       229,805                          252,310
assets
Total assets          $ 4,992,018                       $ 4,820,951
                                                                                 
Interest-bearing
liabilities
Interest-bearing
deposits:
Interest checking     $ 775,136     $ 606      0.32 %   $ 664,869     $ 824      0.50 %
Savings and money       1,632,715     1,624    0.40 %     1,541,559     2,142    0.56 %
market
Time                   589,038     1,182   0.81 %   689,083     1,861   1.09 %
Total
interest-bearing        2,996,889     3,412    0.46 %     2,895,511     4,827    0.67 %
deposits
Securities sold
under agreements to     130,740       78       0.24 %     129,892       156      0.48 %
repurchase
Federal Home Loan       98,989        191      0.78 %     238,578       610      1.03 %
Bank advances
Subordinated debt
and other              106,777     717     2.72 %   97,476      727     3.00 %
borrowings
Total
interest-bearing        3,333,395     4,398    0.54 %     3,361,457     6,320    1.29 %
liabilities
Noninterest-bearing    952,853     -       -       701,760     -       -    
deposits
Total deposits and
interest-bearing        4,286,248   $ 4,398   0.42 %     4,063,217   $ 6,320   0.63 %
liabilities
Other liabilities       17,529                            37,946
Stockholders'          688,241                          719,788
equity
Total liabilities
and stockholders'     $ 4,992,018                       $ 4,820,951
equity
Net interest income                 $ 42,758                          $ 39,504
Net interest spread                            3.76 %                            3.58 %
^(3)
Net interest margin                            3.90 %                            3.74 %
^ (4)
                                                                                 

(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis.
(3) Yields realized on interest-bearing assets less the rates paid on interest-bearing
liabilities. The net interest spread calculation excludes the impact of demand
deposits. Had the impact of demand deposits been included, the net interest spread for
the quarter ended March 31, 2013 would have been 3.88% compared to a net interest
spread of 3.71% for the quarter ended March 31, 2012.
(4) Net interest margin is the result of annualized net interest income calculated on a
tax equivalent basis divided by average interest-earning assets for the period.
                                                                                 
                                                                                 
This information is preliminary and based on company data available at the
time of the presentation.


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
                                                                      
                                                                 
                  March        December   September   June       March      December
(dollars in       2013        2012      2012       2012      2012      2011
thousands)
                                                                             
Asset quality
information and
ratios:
Nonperforming
assets:
Nonaccrual loans   $ 21,837     22,823     36,571      40,821     42,852     47,855
Other real          16,802   18,580   21,817    25,450   34,019   39,714 
estate (ORE)
Total
nonperforming      $ 38,639   41,403   58,388    66,271   76,871   87,569 
assets
Past due loans
over 90 days and   $ 152        -          162         -          821        858
still accruing
interest
Troubled debt
restructurings     $ 20,667     27,450     24,090      26,626     22,832     23,416
(5)
                                                                             
Net loan           $ 2,178      2,163      1,935       2,399      3,630      6,335
charge-offs
Allowance for
loan losses to       317.9  %   304.2  %   188.9   %   170.5  %   166.6  %   154.6  %
nonperforming
loans
As a percentage
of total loans:
Past due
accruing loans       0.23   %   0.29   %   0.35    %   0.21   %   0.34   %   0.36   %
over 30 days
Potential
problem loans        2.57   %   2.84   %   3.13    %   3.49   %   3.78   %   4.12   %
(6)
Allowance for        1.84   %   1.87   %   1.96    %   2.02   %   2.14   %   2.25   %
loan losses
Nonperforming
assets to total      1.02   %   1.11   %   1.65    %   1.91   %   2.28   %   2.66   %
loans and ORE
Nonperforming
assets to total      0.76   %   0.82   %   1.20    %   1.34   %   1.60   %   1.80   %
assets
Annualized net
loan charge-offs
to year-to-date      0.24   %   0.29   %   0.31    %   0.36   %   0.44   %   0.94   %
to avg. loans
(7)
Avg. commercial
loan internal        4.5        4.5        4.6         4.6        4.7        4.6
risk ratings (6)
                                                                             
Interest rates
and yields:
Loans                4.58   %   4.64   %   4.62    %   4.65   %   4.74   %   4.74   %
Securities           3.34   %   3.16   %   3.19    %   3.27   %   3.31   %   3.26   %
Total earning        4.30   %   4.24   %   4.28    %   4.29   %   4.33   %   4.30   %
assets
Total deposits,
including            0.35   %   0.38   %   0.43    %   0.47   %   0.63   %   0.62   %
non-interest
bearing
Securities sold
under agreements     0.24   %   0.24   %   0.29    %   0.36   %   0.48   %   0.50   %
to repurchase
FHLB advances        0.78   %   1.24   %   1.15    %   1.07   %   1.03   %   1.07   %
Subordinated
debt and other       2.72   %   2.77   %   2.84    %   2.91   %   3.00   %   2.80   %
borrowings
Total deposits
and                  0.42   %   0.46   %   0.53    %   0.57   %   0.63   %   0.69   %
interest-bearing
liabilities
                                                                             
Pinnacle
Financial
Partners capital
ratios (8):
Stockholders’
equity to total      13.6   %   13.5   %   13.8    %   13.4   %   15.0   %   14.6   %
assets
Leverage             10.8   %   10.6   %   10.5    %   10.3   %   11.7   %   11.4   %
Tier one             11.7   %   11.8   %   12.1    %   12.0   %   14.0   %   13.8   %
risk-based
Total risk-based     13.0   %   13.0   %   13.4    %   13.5   %   15.4   %   15.3   %
Tier one common
equity to            9.9    %   9.9    %   10.1    %   10.0   %   10.1   %   9.9    %
risk-weighted
assets
Tangible common
equity to            9.2    %   9.0    %   9.2     %   8.7    %   8.8    %   8.4    %
tangible assets
Pinnacle Bank
ratios
Classified asset     26.4   %   29.4   %   33.4    %   37.8   %   39.3   %   44.4   %
ratio
Leverage             10.7   %   10.5   %   10.5    %   10.4   %   10.6   %   10.3   %
Tier one             11.6   %   11.6   %   12.0    %   12.0   %   12.6   %   12.5   %
risk-based
Total risk-based     12.8   %   12.9   %   13.3    %   13.3   %   14.1   %   14.0   %
                                                                             
This information is preliminary and based on company data available at the time of
the presentation.
                                                                             


PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
                                                                                       
                                                                                  
                March            December       September      June           March          December
(dollars in
thousands,      2013            2012          2012          2012          2012          2011
except per
share data)
                                                                                              
Per share
data:
Earnings –       $ 0.40           0.35           0.33           0.23           0.21           0.17
basic
Earnings –       $ 0.39           0.34           0.33           0.23           0.21           0.17
diluted
Book value per
common share     $ 19.74          19.57          19.39          18.92          18.66          18.56
at quarter end
(9)
Tangible
common equity    $ 12.64          12.39          12.19          11.79          11.50          11.33
per common
share
                                                                                              
Weighted avg.
common shares      33,987,265     33,960,664     33,939,248     33,885,779     33,811,871     33,485,253
– basic
Weighted avg.
common shares      34,206,202     34,527,479     34,523,076     34,470,794     34,423,898     34,127,209
– diluted
Common shares      35,022,487     34,696,597     34,691,659     34,675,913     34,616,013     34,354,960
outstanding
                                                                                              
Investor
information:
Closing sales    $ 23.36          18.84          19.32          19.51          18.35          16.15
price
High closing
sales price      $ 23.73          20.60          20.38          19.51          18.44          16.65
during quarter
Low closing
sales price      $ 19.29          18.05          18.88          16.64          15.25          10.28
during quarter
                                                                                              
Other
information:
Gains on
mortgage loans
sold:
Mortgage loan
sales:
Gross loans      $ 120,569        132,485        130,277        105,486        119,426        134,842
sold
Gross fees       $ 3,158          3,269          3,193          2,511          2,608          2,766
(10)
Gross fees as
a percentage
of mortgage        2.62       %   2.47       %   2.45       %   2.38       %   2.18       %   2.05       %
loans
originated
Gains (losses)
on sales of
investment       $ -              1,988          (50        )   99             114            133
securities,
net of OTTI
Brokerage
account
assets, at       $ 1,333,676      1,242,379      1,244,100      1,191,259      1,176,180      1,061,249
quarter-end
(11)
Trust account
managed          $ 515,970        496,264        465,983        462,487        461,719        447,193
assets, at
quarter-end
Balance of
commercial
loan
participations
sold to other    $ 42,721         39,668         40,662         54,598         52,155         62,209
banks and
serviced by
Pinnacle, at
quarter end
Core deposits    $ 3,767,433      3,875,745      3,576,425      3,523,542      3,414,501      3,441,547
(12)
Core deposits
to total           86.8       %   89.9       %   86.1       %   83.3       %   84.4       %   83.7       %
funding (12)
Risk-weighted    $ 4,396,359      4,247,744      4,033,407      3,992,473      3,826,678      3,780,412
assets
Total assets
per full-time    $ 7,038          6,900          6,715          6,724          6,442          6,511
equivalent
employee
Annualized
revenues per
full-time        $ 307.7          301.4          281.6          273.9          266.8          263.2
equivalent
employee
Number of
employees          720.5          730.5          725.5          733.5          743.5          747.0
(full-time
equivalent)
Associate
retention rate     91.2       %   93.2       %   93.4       %   94.0       %   93.7       %   92.0       %
(13)
                                                                                              
Selected
economic
information
(in thousands)
(14):
Nashville MSA
nonfarm            797.5          810.7          793.8          782.3          777.9          779.9
employment -
February 2013
Knoxville MSA
nonfarm            333.1          335.9          332.6          328.4          329.5          332.8
employment -
February 2013
Nashville MSA
unemployment -     6.3        %   6.3        %   6.6        %   6.9        %   6.6        %   7.1        %
January 2013
Knoxville MSA
unemployment -     6.6        %   6.2        %   6.4        %   6.7        %   6.2        %   6.5        %
January 2013
Nashville
residential
median home      $ 169.0          181.0          177.1          175.5          168.5          168.5
price - March
2013
Nashville
inventory of
residential        9.9            9.1            11.0           11.8           11.8           10.6
homes for sale
- March 2013
(16)
                                                                                              
This information is preliminary and based on company data available at the time of the presentation.



PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
                                                                                 
                March           December      September     June          March         December
(dollars in
thousands,     2013           2012         2012         2012         2012         2011
except per
share data)
                                                                                        
Tangible
assets:
Total assets    $ 5,070,935     5,040,549     4,871,386     4,931,878     4,789,583     4,863,951
Less:             (244,012  )   (244,040  )   (244,045  )   (244,065  )   (244,072  )   (244,076  )
Goodwill
Core deposit
and other        (4,582    )  (5,103    )  (5,787    )  (6,470    )  (7,156    )  (7,842    )
intangible
assets
Net tangible    $ 4,822,342   4,791,406   4,621,554   4,681,343   4,538,355   4,612,033 
assets
                                                                                        
Tangible
equity:
Total
stockholders'   $ 691,434       679,071       672,824       659,287       718,665       710,145
equity
Less:             (244,012  )   (244,040  )   (244,045  )   (244,065  )   (244,072  )   (244,076  )
Goodwill
Core deposit
and other        (4,582    )  (5,103    )  (5,787    )  (6,470    )  (7,156    )  (7,842    )
intangible
assets
Net tangible      442,840       429,928       422,992       408,752       467,437       458,226
equity
Less:
Preferred        -           -           -           -           (69,355   )  (69,097   )
stock
Net tangible    $ 442,840     429,928     422,992     408,752     398,082     389,130   
common equity
                                                                                        
Ratio of
tangible
common equity    9.18      %  8.97      %  9.15      %  8.73      %  8.77      %  8.44      %
to tangible
assets
                                                                                        
                                                                                        
                For the three months ended
                March           December      September     June          March         December
                2013           2012         2012         2012         2012         2011
                                                                                        
Net interest    $ 42,758        42,243        40,932        40,185        39,504        39,293
income
                                                                                        
Noninterest       11,902        13,108        10,430        9,910         9,949         9,727
income
Less: Net
gains
(losses) on      -           1,988       (50       )  99          114         133       
sale of
investment
securities
Noninterest
income
excluding the
impact of net
gains            11,902      11,120      10,480      9,811       9,835       9,594     
(losses) on
sale of
investment
securities
Total
revenues
excluding the
impact of net
gains            54,660      53,363      51,413      49,996      49,339      48,886    
(losses) on
sale of
investment
securities
                                                                                        
Noninterest       32,440        34,851        33,578        33,915        35,820        34,374
expense
Other real
estate owned      721           1,365         2,399         3,104         4,676         4,193
expense
FHLB
restructuring    877         2,092       -           -           -           -         
charges
Noninterest
expense
excluding the
impact of
other real       30,842      31,394      31,179      30,811      31,144      30,181    
estate owned
expense and
FHLB
restructuring
charges
                                                                                        
Adjusted
pre-tax         $ 23,818      21,969      20,233      19,185      18,195      18,706    
pre-provision
income ^(15)
                                                                                        
                                                                                        
Efficiency        59.3      %   63.0      %   65.4      %   67.7      %   72.4      %   70.1      %
Ratio ^ (4)
                                                                                        
Efficiency
Ratio
excluding the
gain or loss
on sale of
investment
securities,       56.4      %   58.8      %   60.6      %   61.6      %   63.1      %   61.7      %
the impact of
other real
estate owned
expense and
FHLB
restructuring
charges^(4)
                                                                                        
                                                                                        
Noninterest     $ 32,440        34,851        33,578        33,915        35,820        34,374
expense
Other real
estate owned      721           1,365         2,399         3,104         4,676         4,193
expense
FHLB
restructuring    877         2,092       -           -           -           -         
charges
Noninterest
expense
excluding the
impact of
other real      $ 30,842      31,394      31,179      30,811      31,144      30,181    
estate owned
expense and
FHLB
restructuring
charges
                                                                                        
Total average   $ 4,992,018   4,964,521   4,860,394   4,847,583   4,820,951   4,852,311 
assets
                                                                                        
Noninterest
expense
(excluding
ORE expense
and FHLB          2.46      %   2.52      %   2.55      %   2.56      %   2.60      %   2.50      %
restructuring
charges) to
avg. assets
^(1)
                                                                                        
                                                                                        
This information is preliminary and based on company data available at the time of the
presentation.



PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED


1.  Ratios are presented on an annualized basis.
2.  Net interest margin is the result of net interest income on a tax
    equivalent basis divided by average interest earning assets.
3.  Total revenue is equal to the sum of net interest income and noninterest
    income.
4.  Efficiency ratios are calculated by dividing noninterest expense by the
    sum of net interest income and noninterest income.
    Troubled debt restructurings include loans where the company, as a result
    of the borrower’s financial difficulties, has granted a credit concession
5.  to the borrower (i.e., interest only payments for a significant period of
    time, extending the maturity of the loan, etc.). All of these loans
    continue to accrue interest at the contractual rate.
    Average risk ratings are based on an internal loan review system which
    assigns a numeric value of 1 to 10 to all loans to commercial entities
    based on their underlying risk characteristics as of the end of each
    quarter. A “1” risk rating is assigned to credits that exhibit Excellent
    risk characteristics, “2” exhibit Very Good risk characteristics, “3”
6.  Good, “4” Satisfactory, “5” Acceptable or Average, “6” Watch List, “7”
    Criticized, “8” Classified or Substandard, “9” Doubtful and “10” Loss
    (which are charged-off immediately). Additionally, loans rated “8” or
    worse that are not nonperforming or restructured loans are considered
    potential problem loans. Generally, consumer loans are not subjected to
    internal risk ratings.
    Annualized net loan charge-offs to average loans ratios are computed by
7.  annualizing year-to-date net loan charge-offs and dividing the result by
    average loans for the year-to-date period.
8.  Capital ratios are defined as follows:
    Equity to total assets – End of period total stockholders’ equity as a
    percentage of end of period assets.
    Tangible common equity to total assets - End of period total stockholders'
    equity less end of period goodwill, core deposit and other intangibles as
    a percentage of end of period assets.
    Leverage – Tier one capital (pursuant to risk-based capital guidelines) as
    a percentage of adjusted average assets.
    Tier one risk-based – Tier one capital (pursuant to risk-based capital
    guidelines) as a percentage of total risk-weighted assets.
    Total risk-based – Total capital (pursuant to risk-based capital
    guidelines) as a percentage of total risk-weighted assets.
    Classified asset - Classified assets as a percentage of Tier 1 Capital
    plus allowance for loan losses.
9.  Book value per share computed by dividing total stockholders’ equity less
    preferred stock and common stock warrants by common shares outstanding.
10. Amounts are included in the statement of operations in “Gains on loans
    sold, net”, net of commissions paid on such amounts.
11. At fair value, based on information obtained from Pinnacle’s third party
    broker/dealer for non-FDIC insured financial products and services.
    Core deposits include all transaction deposit accounts, money market and
    savings accounts and all certificates of deposit issued in a denomination
12. of less than $250,000. The ratio noted above represents total core
    deposits divided by total funding, which includes total deposits, FHLB
    advances, securities sold under agreements to repurchase, subordinated
    indebtedness and all other interest-bearing liabilities.
    Associate retention rate is computed by dividing the number of associates
13. employed at quarter-end less the number of associates that have resigned
    in the last 12 months by the number of associates employed at quarter-end.
    Employment and unemployment data is from BERC- MTSU & Bureau of Labor
    Statistics. Labor force data is not seasonally adjusted. The most recent
    quarter data presented is as of the most recent month that data is
14. available as of the release date. Historical data is subject to update by
    the BERC- MTSU & Bureau of Labor Statistics. Historical data is presented
    based on the most recently reported data available by the BERC- MTSU &
    Bureau of Labor Statistics. The Nashville home data is from the Greater
    Nashville Association of Realtors.
    Adjusted pre-tax, pre-provision income excludes the impact of net gains
15. (losses) on investment security sales as well as other real estate owned
    expenses and FHLB prepayment charges.
16. Represents homes currently listed with MLS in the Nashville MSA.

Contact:

Pinnacle Financial Partners, Inc.
Media Contact:
Nikki Klemmer, 615-743-6132
or
Financial Contact:
Harold Carpenter, 615-744-3742
www.pnfp.com
 
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