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News For PNFP From the Last 2 Days
PNFP
Apr 22, 2024 | 18:29 EDT
Reports Q1 revenue $428.1M, consensus $422.5M. "Inflation appears to be more difficult to tame than the Fed had predicted," said M. Terry Turner, CEO. "Regardless of the economic landscape, our focus continues to be on strengthening our balance sheet and growing our earnings and tangible book value, while continuing to take steps that we believe will position our firm for long-term growth. We continued to execute our unique business model during the first quarter. We are reporting strong core earnings inclusive of a meaningful provision for credit losses. We recruited 37 new revenue producers during the quarter, including 14 in our newer markets of Atlanta, Washington D.C., Birmingham and Jacksonville. And as another demonstration of why we are so successful in hiring the best bankers in our markets, FORTUNE and Great Place to Work(R) recognized our firm as No. 11 on their list of the 100 Best Companies to Work For in the United States. We have been on FORTUNE's top 100 list for the last eight years, but this is our highest ranking, further demonstrating the staying power of our culture, even as we have become a larger, high-growth bank. Our firm is uniquely positioned in what we believe are many of the best banking markets in the Southeast. As a result, combined with our distinctive operating model, we remain confident in our ability to generate long-term sustainable growth in loans, deposits and earnings in spite of the current economic volatility."