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VOL. 133 | NO. 61 | Monday, March 26, 2018

Pinnacle Continues to Ramp up Memphis Presence

By Andy Meek

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Pinnacle Bank is continuing to accelerate its growth in the Memphis banking market, with the opening in recent days of two new loan production offices, a new mortgage office, plus another mortgage office on the way soon in Southaven.

The Nashville-based bank also has hired a new team of professionals for its commercial banking group in Memphis, plus new mortgage professionals, all while continuing to work toward the opening of a new Pinnacle branch on Union Avenue.

It’s reflective of what Pinnacle’s Memphis chairman, Kirk Bailey, was telling The Daily News back in the fall about the bank’s ambitions – to “serve more of our city and do it better than ever before.”

That included opening a new Memphis headquarters for Pinnacle Bank in the Ridgeway Center at 949 S. Shady Grove Road, which houses a full banking office and drive through.

Among the rest of what just opened and is still in the works:

Pinnacle in recent days opened two new loan production offices, one in Whitehaven at 4403 Elvis Presley Blvd. and another at 2235 Whitten Road.

The Whitehaven office sits a little more than a mile from Graceland. The team there includes office leader Tracy Mitchell-Ellis and a group of small business and mortgage advisers, and that office also includes a learning center, a signature feature in many Pinnacle offices which will be used for workshops and seminars on financial topics and is open for community use.

The Whitten Road office occupies space in a shopping center just north of Interstate 40 in Memphis near the Bartlett city limits.

“These offices bring us closer to communities that previously didn’t have easy access to Pinnacle services,” said Herman Strickland, head of Pinnacle’s client advisory group in Memphis. “Our goal is to support small businesses and home ownership from these offices and also to build on the incredible momentum we have in the market.”

Pinnacle also has a mortgage office slated for Southaven the bank says is opening soon. And it just hired a new team and installed them in a new mortgage office near the Wolfchase area, at 2645 Appling Road.

At the bank’s main office on Shady Grove, Pinnacle just added three new executives to its commercial estate group. They include Lauren Owens, who joins Pinnacle as senior vice president and credit adviser; Ashley Garner, who joins as a financial adviser assistant; and Bill Cooley, a commercial real estate assistant. He was previously an investor accountant for Financial Federal Savings Bank in Memphis.

Owens came from First Tennessee Bank, where she was manager of the company’s commercial syndications loan closing administration. Garner had been at SunTrust Bank, where she was a client support specialist and gave trust support for the bank’s private wealth management group.

Pinnacle has been investing heavily in its Memphis presence in part to raise its profile in the area since entering the market via Pinnacle’s acquisition of Magna Bank in 2015. In addition to growing the bank’s footprint here, Pinnacle also has become the official bank of the Memphis Grizzlies and FedExForum and was named a “Top 10 Company to Watch in 2017” by the Greater Memphis Chamber.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047
FORECLOSURE NOTICES 20 39 190
BUILDING PERMITS 0 305 3,056
BANKRUPTCIES 17 135 753
BUSINESS LICENSES 0 53 329
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0