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Announcements: MEDIA CONTACT: Vicki Kessler 615-320-7532
Pinnacle Financial Partners Issues $20 Million in Nashville, Tenn., Sept 7, 2006 - Pinnacle Financial Partners, Inc., (Nasdaq/NGS: PNFP), the holding company of Pinnacle National Bank, today announced that it had completed the private placement of $20 million in trust preferred securities. The trust preferred securities will be payable in 2036 and will bear interest at a floating rate equal to three-month LIBOR plus 1.65 percent. Pinnacle anticipates that substantially all of the proceeds will be contributed to the capital of Pinnacle National Bank. "Our phenomenal growth in our six years of operation and our expectation for continued growth has created the need for additional capital," said Terry Turner, Pinnacle president and chief executive officer. Pinnacle Financial Partners, the largest financial services firm headquartered in Nashville provides a full range of banking, investment and insurance products and services designed for small- to mid-sized businesses and their owners, real estate professionals and individuals interested in a deep relationship with their financial institution. Pinnacle provides financial planning services and comprehensive wealth management services to help clients increase, protect and distribute their assets. The firm also has a well-established expertise in commercial real estate.Pinnacle opened its first office in October 2000. Since then the firm has added seven other offices on a denovo basis and acquired Cavalry Bancorp with its nine offices bringing the total number of offices to 17 in some of the most attractive trade areas in the Nashville-Davidson-Murfreesboro MSA. 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," "intend," "plan," "believe," "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 facts that may cause the actual results, performance or achievements of Pinnacle to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, without limitation, (i) unanticipated deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses, (ii) the inability of Pinnacle to continue to grow its loan portfolio at historic rates, (iii) increased competition with other financial institutions, (iv) lack of sustained growth in the economy in the Nashville-Davidson-Murfreesboro MSA, (v) rapid fluctuations or unanticipated changes in interest rates, (vi) the inability of Pinnacle to satisfy regulatory requirements for its expansion plans, (vii) the inability of Pinnacle to execute its expansion plans, (viii) the inability of Pinnacle to successfully integrate the former Cavalry Bancorp's operations with Pinnacle's and (ix) changes in the legislative and regulatory environment. A more detailed description of these and other risks is contained in Pinnacle's most recent annual report on Form 10-K. Many of such factors are beyond Pinnacle's ability to control or predict, and readers are cautioned not to put undue reliance on such forward-looking statements. Pinnacle 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.
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Pinnacle National Bank, Member FDIC. Equal Housing Lender. Visit the FDIC website.
Pinnacle National Bank is regulated by the Office of the Comptroller of
the Currency (OCC). Visit the OCC website.
© 2008 Pinnacle Financial Partners. All Rights Reserved.
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