I believe Pinnacle’s relationship with Avenue Bank in
Nashville was an example of Tacit collusion. When Pinnacle purchased Avenue
Bank, one of the founders of Avenue Bank was given a seat on Pinnacle’s board
of directors. After the sale, Pinnacle
continued to grow the Avenue Bank brand before changing the name to Pinnacle. See
links below.
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, real estate professionals and individuals interested in a comprehensive relationship with their financial institution. Pinnacle is the second-largest bank holding company headquartered in Tennessee.
Great points.
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