Small Business Highlight-Pinnacle Financial Partners

Pinnacle Financial Partners

This month I have the honor of highlightingPinnacle Financial Partnersin our Small Business Highlight blog series. I had the privilege of working with Steven Thornton, Office Leader, from our local Mauldin branch while I learned more about this incredible business.

Pinnacle Financial Partners began in October 2000 with one office in downtown Nashville, Tennessee and has expanded to 115 offices across four states. They’ve been one of the most rapid growth organizations evaluated by Forbes both organically and by acquisition. http://fortune.com/100-fastest-growing-companies/pinnacle-financial-partners/

Not Your Typical Bank

Pinnacle Financial Partners has worked hard to remove many of the irritants commonly found in the banking world. Additionally, they have a very large focus on customer service AND employee culture. “How have they done this” you might ask. Steven provided several examples.
  • Betting the Farm on Culture
Many companies view shareholder reward as their most important goal. At Pinnacle, the company culture and the excitement level of their associates comes first. Every associate is a shareholder. They provide unsupervised budgets to “wow” their clients and associates. They also provide complete feedback/transparency on service levels, financial reporting, and leadership.
  • Experience
Pinnacle Financial Partners hires bankers that have a minimum of 10 years of banking experience for most roles and 5 years for others. This provides distinctive service and effective advice to their clients. They have a year-to-year retention rate well above 90% for associates and are frequently listed on many publications: (No. 22 on Best Companies to Work For), (Best Banks to Work for 2017, American Banker (Best Workplaces for Women 2017, Great Place to Work®; Fortune Magazine)

  • Local Decision Making
They may span four states, but their experience requirements provide a framework for 100% local decision making. They don’t send forms to the home office. Their bankers can tell you “Yes or No”. This can relate to community investment or client decisions. Nearly all decisions and finances are determined locally so they can make the most positive impact to our area.
Recently, our local bank started the Feed Greenville’s Growth 5k race (5/26/18) that supported Meals on Wheels and Habitat for Humanity.

Values

Personally, Steven was inspired to work for Pinnacle by the tremendous leadership team that is in place. Steven says, “Pinnacle provides a win-together culture where everyone strives to meet the same goals together.”


Terry Turner, the CEO, leads a three-day orientation with every new hire to instill the values and goals for the firm. As a result, their clients benefit as they provide consistency across all their offices. Uniquely, Pinnacle Financial Partners has a values-based business versus a performance-based business.


This means they hire people who fit their culture, not for how many products they can sell. However, they are one of the most profitable banks in the country. Coincidence? Probably not! http://www.snl.com/IRweblinkx/reports.aspx?keyreport=-58&iid=4055925

Why Greenville?

Pinnacle Financial Partners chose 9 urban markets in the Southeast that fit their urban community bank model with the Upstate corridor being near the top of the list. The economic growth and influx of families provide significant opportunity for them to deliver their differentiated experience.

As for Steven personally, he said the following. “The Upstate provides everything you could ask for in a great place to live and work. I moved to the Upstate in 2007 and quickly fell in love with the area. The people of the Upstate are salt-of-the-Earth and are a joy to interact with.”

Goals

As part of their brand promise, Pinnacle Financial Partners associates answer the phone within three rings with a live person. It’s not easy, but it’s important and their clients appreciate it.

Pinnacle Financial Partners achieved record breaking loan growth in the first quarter of 2018 (almost $800 million), an industry leading metric. This means their bank has a strong appetite to bank deposit households through their experience and unique products.
Want to learn more?
Connect with Pinnacle Financial Partners on Facebook, LinkedIn, and YouTube! You can also contact them via phone or email.

Visit one of their 6 local branches! (3 in Greenville, 1 each in Mauldin, Easley, and Spartanburg)

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