The reason I selected Pinnacle Financial Partners as my
company to follow is because I was intrigued by the company’s aggressive acquisition
strategy. Pinnacle’s CEO has stated publicly that he plans to grow the company
by acquiring competitors. The company has used the horizontal merger strategy
to gobble up competitors and enter new markets. It’s most recent acquisition
was the acquisition of North-Carolina-based BNC Bankcorp. This deal allows
Tennessee-based Pinnacle to expand into Virginia and the Carolinas. Other acquisitions
include: Avenue Bank, Mid-America Bankshares, Magna Bank and CapitalMark Bank.
Each acquisition allows Pinnacle to grow larger and stronger, entering new
markets and gaining market share. This is a smart strategy because by acquiring
existing banks, the company has a built-in customer base when it enters new
markets.
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.
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