Investor Call FOURTH QUARTER 2024 JANUARY 22, 2025 Time: 8:30 AM CT Webcast: www.pnfp.com (investor relations) M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO 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 21E of the Securities Exchange Ac ...

Core Insights - Pinnacle Financial reported a revenue of $475.34 million for the quarter ended December 2024, marking a 19.9% increase year-over-year and a surprise of +2.56% over the Zacks Consensus Estimate of $463.47 million [1] - The earnings per share (EPS) for the quarter was $1.90, compared to $1.68 in the same quarter last year, resulting in an EPS surprise of +5.56% against the consensus estimate of $1.80 [1] Financial Performance Metrics - Net Interest Margin stood at 3.2%, matching the four-analyst average estimate [4] - Efficiency Ratio was reported at 55.1%, slightly higher than the estimated 54.3% [4] - Nonaccrual loans totaled $147.83 million, exceeding the average estimate of $125.68 million [4] - Annualized net loan charge-offs to average loans were at 0.2%, consistent with the three-analyst average estimate [4] - Average balances of total interest-earning assets reached $46.40 billion, surpassing the $45.90 billion average estimate [4] - Total nonperforming assets were reported at $149.11 million, higher than the estimated $126.91 million [4] - Net Interest Income was $363.79 million, slightly above the average estimate of $360.31 million [4] - Total noninterest income amounted to $111.55 million, compared to the average estimate of $107.61 million [4] - Gains on mortgage loans sold, net, were $2.34 million, slightly below the average estimate of $2.45 million [4] - Service charges on deposit accounts were $15.18 million, lower than the average estimate of $16.50 million [4] - Insurance sales commissions totaled $2.90 million, below the estimated $3.27 million [4] - Trust fees were reported at $9.10 million, exceeding the average estimate of $8.44 million [4] Stock Performance - Pinnacle Financial's shares have returned +5.5% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Group 1: Earnings Performance - Pinnacle Financial reported quarterly earnings of $1.90 per share, exceeding the Zacks Consensus Estimate of $1.80 per share, and up from $1.68 per share a year ago, representing an earnings surprise of 5.56% [1] - The company posted revenues of $475.34 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.56%, compared to year-ago revenues of $396.34 million [2] - Over the last four quarters, Pinnacle Financial has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Pinnacle Financial shares have increased approximately 4.8% since the beginning of the year, outperforming the S&P 500's gain of 2% [3] - The current consensus EPS estimate for the upcoming quarter is $1.75 on revenues of $466.97 million, and for the current fiscal year, it is $7.56 on revenues of $1.96 billion [7] - The estimate revisions trend for Pinnacle Financial is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Group 3: Industry Context - The Zacks Industry Rank for Banks - Southeast is currently in the top 28% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

WEBSITE: www.pnfp.com MEDIA CONTACT: Joe Bass, 615-743-8219 FINANCIAL CONTACT: Harold Carpenter, 615-744-3742 FOR IMMEDIATE RELEASE PNFP REPORTS 4Q24 DILUTED EPS OF $1.91; NET INTEREST MARGIN HELD AT 3.22 PERCENT Net interest income up 14.0 percent linked-quarter annualized; Quarterly common dividend increased to $0.24 per share NASHVILLE, TN, Jan. 21, 2025 - Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $1.91 for the quarter ended Dec. 31, 2024, compar ...

Core Viewpoint - Analysts expect Pinnacle Financial (PNFP) to report quarterly earnings of $1.80 per share, reflecting a year-over-year increase of 7.1%, with revenues projected at $463.47 million, up 16.9% from the previous year [1]. Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions to stock performance [2]. - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst projections [1]. Key Financial Metrics - Analysts project the 'Net Interest Margin' to reach 3.2%, up from 3.1% year-over-year [4]. - The 'Efficiency Ratio' is expected to improve to 54.3%, compared to 63.4% in the same quarter last year [4]. - 'Nonaccrual loans' are estimated at $125.68 million, up from $82.29 million a year ago [4]. Asset and Income Projections - 'Average balances - Total interest-earning assets' are forecasted to be $45.90 billion, compared to $42.95 billion last year [5]. - 'Total nonperforming assets' are projected at $126.91 million, up from $86.64 million year-over-year [5]. - 'Net Interest Income' is expected to reach $360.31 million, an increase from $317.25 million last year [5]. Noninterest Income Estimates - 'Total noninterest income' is projected at $107.61 million, compared to $79.09 million a year ago [6]. - 'Service charges on deposit accounts' are expected to be $16.50 million, up from $12.66 million [6]. - 'Insurance sales commissions' are estimated at $3.27 million, slightly up from $3.07 million last year [6]. Additional Income Metrics - 'Trust fees' are expected to reach $8.44 million, compared to $6.99 million last year [7]. - 'Income from equity method investment' is projected at $16.03 million, up from $14.43 million [7]. - 'Other noninterest income' is estimated at $43.83 million, compared to $27.53 million in the same quarter last year [8]. Market Performance - Pinnacle Financial shares have increased by 0.8% over the past month, contrasting with a -3.3% change in the Zacks S&P 500 composite [8]. - With a Zacks Rank 2 (Buy), PNFP is expected to outperform the overall market in the near term [8].

Core Viewpoint - Pinnacle Financial (PNFP) is anticipated to report a year-over-year increase in earnings driven by higher revenues for the quarter ended December 2024, with the consensus outlook suggesting a positive earnings picture [1][3]. Earnings Expectations - The upcoming earnings report is expected to reveal quarterly earnings of $1.80 per share, reflecting a year-over-year increase of +7.1%, while revenues are projected to reach $463.47 million, up 16.9% from the previous year [3]. - The stock price may increase if the reported figures exceed expectations, whereas a miss could lead to a decline in stock value [2]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating that analysts have not significantly altered their initial projections during this period [4]. - The Most Accurate Estimate for Pinnacle Financial is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +2.08%, suggesting a bullish outlook from analysts [10]. Earnings Surprise Prediction - A positive Earnings ESP is a strong indicator of a potential earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [8]. - Pinnacle Financial currently holds a Zacks Rank of 2, reinforcing the likelihood of surpassing the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, Pinnacle Financial exceeded the expected earnings of $1.79 per share by delivering $1.86, resulting in a surprise of +3.91% [12]. - The company has successfully beaten consensus EPS estimates in all of the last four quarters [13]. Conclusion - Pinnacle Financial is positioned as a compelling candidate for an earnings beat, although investors should consider additional factors beyond earnings results when making investment decisions [16].

Core Viewpoint - Pinnacle Financial (PNFP) is a regional bank that has consistently exceeded earnings estimates and is well-positioned for future earnings surprises [1][3]. Earnings Performance - For the last reported quarter, Pinnacle Financial achieved earnings of $1.86 per share, surpassing the Zacks Consensus Estimate of $1.79 per share, resulting in a surprise of 3.91% [2]. - In the previous quarter, the company was expected to report earnings of $1.60 per share but delivered $1.63 per share, yielding a surprise of 1.88% [2]. Earnings Estimates and Predictions - There has been a favorable shift in earnings estimates for Pinnacle Financial, with a positive Earnings ESP (Expected Surprise Prediction) indicating potential for an earnings beat [3][6]. - The current Earnings ESP for Pinnacle Financial is +2.08%, suggesting that analysts are optimistic about its near-term earnings potential [6]. Zacks Rank and Success Rate - Pinnacle Financial holds a Zacks Rank of 2 (Buy), which, when combined with a positive Earnings ESP, indicates a high likelihood of another earnings beat [6]. - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [4].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OF 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission File Number: 001-39309 Pinnacle Financial Partners Inc. | --- | --- | |------------------------------------- ...

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Q3 2024 Results Conference Call October 16, 2024 9:30 AM ET Company Participants Terry Turner - Chief Executive Officer Harold Carpenter - Chief Financial Officer Conference Call Participants Brett Rabatin - Hovde Group Russell Gunther - Stephens Stephen Scouten - Piper Sandler Ben Gerlinger - Citi Anthony Elian - JPMorgan Catherine Mealor - KBW Samuel Varga - UBS Brian Martin - Janney Tim Mitchell - Raymond James Operator Good morning, everyone, and welcome t ...

For the quarter ended September 2024, Pinnacle Financial (PNFP) reported revenue of $466.75 million, up 14.4% over the same period last year. EPS came in at $1.86, compared to $1.79 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $454.18 million, representing a surprise of +2.77%. The company delivered an EPS surprise of +3.91%, with the consensus EPS estimate being $1.79. While investors closely watch year-over-year changes in headline numbers -- revenue and earnin ...