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VOL. 132 | NO. 216 | Tuesday, October 31, 2017

Pinnacle Expanding Memphis Footprint

By Andy Meek

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A week after Pinnacle Financial Partners’ Memphis chairman told The Daily News the bank would be growing its footprint around the city, the bank has announced it’s preparing to do just that.

Pinnacle has opened its new Memphis headquarters office in the Ridgeway Center at 949 S. Shady Grove Road, a location that houses a full banking office and drive-through. The new office, which replaces the bank’s previous main office on Quail Hollow Road, also includes almost 100 financial advisers, market leaders and support staff.

Meanwhile, the bank is also planning to open two new loan production offices, a new mortgage office and a new full-service banking office in different areas of the city.

Construction is underway now on two loan production offices – in Whitehaven on Elvis Presley Boulevard, and another on Whitten Road. Pinnacle’s mortgage team is part of a project that broke ground on Getwell Road earlier this month, and the bank is also planning a Midtown office on Union Avenue.

The new office on Shady Grove spans almost 35,000 square feet, with additional room to grow. It was designed by Hastings Architecture in Nashville and built by Linkous Construction Co. Boyle Investment Co. developed and owns the building, and Pinnacle’s standard design aesthetics are present, including light blond woods, modern metal and glass fixtures, and abundant natural light.

That new office also includes a “learning center” with video conferencing technology for clients, associates and community events as well as dozens of works sourced from Memphis artists.

“Between our new home at Shady Grove and the other offices we have in the pipeline,” said Pinnacle’s Memphis chairman Kirk Bailey, “we’re prepared to serve more of our city and do it better than ever before.”

The news caps a big year of growth for Pinnacle. The most recent deposit market share report from the Federal Deposit Insurance Corp. shows, for example, that during the 12 months ended June 30, 2017, Pinnacle added more than $315 million in deposits in the Memphis MSA, representing a growth rate of 67 percent.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
FORECLOSURE NOTICES 29 82 1,716
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700
BUSINESS LICENSES 28 151 3,584
UTILITY CONNECTIONS 33 172 4,155
MARRIAGE LICENSES 20 111 2,290

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