How Pinnacle Financial Partners Cracked the Nut on Rapid and Responsible Growth
The headquarters of Pinnacle Financial Partners in downtown Nashville, Tennessee. Image source: Pinnacle Financial Partners.
Pinnacle Financial Partners (NASDAQ: PNFP) offers a compelling story about how to grow a bank in a rapid and responsible way. The secret to its success has been its unique approach to organic growth, catalyzed by a series of acquisitions that it's made over the past dozen years.
Since Terry Turner and two fellow executives from a previous bank founded Pinnacle 17 years ago, its balance sheet has grown from a figment of their imaginations to just under $21 billion in assets today. An investment in Pinnacle's stock at its initial public offering in 2000 has increased in value by a factor of 13.3. Only one other bank can boast a better return over this span.
Source: Fool.com
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