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News Release: Pinnacle Grows Nashville Market Share and Total Deposits Faster than its Large Regional Bank Competitors NASHVILLE, Tenn., Oct. 13, 2006 - Pinnacle Financial Partners Inc. (Nasdaq/NGS: PNFP) grew market share and total deposits faster than its four larger regional bank competitors, according to the Federal Deposit Insurance Corporation (FDIC) report for June 30, 2006, through June 30, 2007, issued yesterday. Pinnacle continues to be the fastest-growing financial institution in the Nashville-Davidson-Murfreesboro-Franklin MSA for the 7-year period since the firm's inception. Pinnacle's market share grew to 5.77% between June 30, 2006 and June 30, 2007, an 8% increase of .43% over its 5.33% market share the previous year. With the recent merger of AmSouth and Regions, Pinnacle is now the fifth largest financial institution in the MSA. According to the FDIC report, the three largest banks collectively lost 5.3% in market share: Regions/AmSouth (19.90% - down 2.94%), Bank of America (14.77% - down .81%) and SunTrust (14.19% - down 1.55%). The fourth largest, First Tennessee, had 6.12% market share, up .37%. Pinnacle also outpaced its four larger regional bank competitors in deposit growth. Pinnacle grew total deposits by $244 million year-to-year, compared to its closest competitor, First Tennessee, which grew its deposits approximately $234 million. "Pinnacle was the only financial institution named to Fortune magazine's 2007 list of America's 100 fastest-growing companies," said M. Terry Turner, Pinnacle president and CEO. "Two factors have created an environment for us to achieve this distinction. First, the Nashville market is one of the most attractive in the country by almost any measure. In addition to taking advantage of this growth, Pinnacle has been able to attract many clients of the three large regional banks in the past seven years." Of the 59 financial institutions in the Nashville-Davidson-Murfreesboro-Franklin MSA, almost all of the community banks on the report gained market share. These results continue a longstanding trend of community banks here gaining share from the larger regional and national institutions. In August 2007 Pinnacle announced an agreement to acquire Mid-America Bancshares Inc., a $1.1 billion holding company for Bank of the South and PrimeTrust Bank, two other community banks in the Nashville MSA. The deal will expand Pinnacle's offices to 30 locations in the market. PrimeTrust increased its market share to 1.60%, up .16%, while Bank of the South increased to 1.35%, up .13%. Pinnacle, Bank of the South and PrimeTrust Bank have a combined market share of 8.72%, a combined increase of .62% over the previous year. Pinnacle maintained the top spot in the Rutherford County data and increased its share there from 25.07% last year to 25.58% this year. "Rutherford County, one of the highest growth counties in the MSA, demonstrates Pinnacle's strength in the marketplace," Turner said. "There, Pinnacle has not only maintained the leading market share, but also widened the gap with its closest competitors this year." Pinnacle Financial Partners offers 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 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 also has a well-established expertise in commercial real estate. The firm began operations in October 2000 and has since grown to $2.3 billion in assets. Earlier this year, Pinnacle launched an expansion into Knoxville, another high growth Tennessee MSA.
FDIC Deposit Market Share Report for Top Five Institutions
### 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 in the Nashville-Davidson-Murfreesboro-Franklin MSA or projected rates in the Knoxville MSA, (iii) increased competition with other financial institutions, (iv) lack of sustained growth in the economy in the Nashville-Davidson-Murfreesboro-Franklin MSA and the Knoxville 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 and (viii) changes in the legislative and regulatory environment. Additionally, risk factors exist in connection with Pinnacle's proposed merger with Mid-America including , among others, (1) the risk that the cost savings and any revenue synergies from the merger may not be realized or take longer than anticipated, (2) disruption from the merger with customers, suppliers or employee relationships, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (4) the risk of successful integration of the two companies' businesses, (5) the failure of Mid-America's or Pinnacle's shareholders to approve the merger, (6) the amount of the costs, fees, expenses and charges related to the merger, and (7) the ability to obtain required governmental approvals of the proposed terms of the merger and anticipated schedule. A more detailed description of these and other risks is contained in Pinnacle's most recent annual and quarterly reports filed with the Securities and Exchange Commission. 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. Additional Information About Pinnacle's Proposed Merger with Mid-America and Where to Find It In connection with the proposed merger, Pinnacle Financial Partners, Inc. and Mid-America Bancshares, Inc. have filed a joint proxy statement/prospectus with the Securities and Exchange Commission. This joint proxy statement/prospectus is part of a Registration Statement on Form S-4 of Pinnacle that was declared effective on October 12, 2007. INVESTORS AND SECURITY HOLDERS ARE ENCOURAGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT PINNACLE, MID-AMERICA AND THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of these documents through the website maintained by the Securities and Exchange Commission at http://www.sec.gov. Free copies of the joint proxy statement/prospectus also may be obtained by directing a request by telephone or mail to Pinnacle Financial Partners Inc., 211 Commerce Street, Suite 300, Nashville, TN 37201, Attention: Investor Relations (615) 744-3710 or Mid-America Bancshares, Inc., 7651 Highway 70, South, Nashville, TN 37221 Attention: Investor Relations (615) 646-4556. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Participants in the Solicitation The directors and executive officers of Pinnacle and Mid-America may be deemed to be participants in the solicitation of proxies with respect to the proposed transaction. Information about Pinnacle's directors and executive officers is contained in the proxy statement filed by Pinnacle with the Securities and Exchange Commission on March 15, 2007, which is available on Pinnacle's web site (www.pnfp.com) and at the address provided above. Information about Mid-America's directors and executive officers is contained in the proxy statement filed by Mid-America with the Securities and Exchange Commission on April 2, 2007 which is available on Mid-America's website (www.mid-americabancsharesinc.com) and at the address provided above. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests by security holding or otherwise, is or will be contained in the joint proxy statement/prospectus and other relevant material filed or to be filed with the Securities and Exchange Commission. These documents will be available to investors free of charge on the Securities and Exchange Commission's website at the above address.
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