FOR IMMEDIATE RELEASE

MEDIA CONTACT:	Joe Bass, 615-743-8219
FINANCIAL CONTACT:	Harold Carpenter, 615-744-3742
WEBSITE:	www.pnfp.com

PNFP REPORTS DILUTED EARNINGS PER SHARE OF $0.83 FOR 3Q 2017

Excluding merger-related charges, diluted EPS was $0.90 for 3Q 2017

NASHVILLE, TN, Oct. 17, 2017 - Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $0.83 for the quarter ended Sept. 30, 2017, compared to net income per diluted common share of $0.71 for the quarter ended Sept. 30, 2016, an increase of 16.9 percent. Net income per diluted common share was $2.46 for the nine months ended Sept. 30, 2017, compared to net income per diluted common share of $2.12 for the nine months ended Sept. 30, 2016, an increase of 16.0 percent.

Excluding pre-tax merger-related charges of $8.8 million and $12.7 million for the three and nine months ended Sept. 30, 2017, net income per diluted common share was $0.90 and $2.57, respectively, compared to $0.78 and $2.24 for the three and nine months ended Sept. 30, 2016, excluding pre-tax merger-related charges of $5.7 million and $8.5 million, respectively, or an increase of 15.4 percent and 14.7 percent, respectively.

"I am very pleased not only with the earnings growth our firm experienced during the third quarter but, more importantly, the momentum for future earnings growth," said M. Terry Turner, Pinnacle's president and chief executive officer. "The third quarter includes the first full quarter of results from our recent merger with BNC Bancorp (BNC). I believe it was an excellent quarter for our firm in terms of earnings growth, balance sheet growth and operating leverage.

"The execution of our integration with BNC remains on an accelerated path. We have now successfully completed the brand integration in the Carolinas and Virginia and are deep into our cultural integration process. The last major step toward realization of our deal synergies is the upcoming technology conversion. Given the fact that we have been performing the core processing for BNC since late August of this year, we expect the conversion to have no incremental impact on our clients in the Carolinas and Virginia and very little impact on our Tennessee client base. The progress we’ve made thus far has validated the power we believed was possible from combining our two firms." 

GROWING THE CORE EARNINGS CAPACITY OF THE FIRM:

• Revenues for the quarter ended Sept. 30, 2017 were $216.2 million, an increase of $97.8 million, or 82.7 percent, from the quarter ended Sept. 30, 2016.

• Loans at Sept. 30, 2017 were a record $15.26 billion, an increase of $501.0 million from June 30, 2017 and $7.02 billion from Sept. 30, 2016, reflecting year-over-year growth of 85.2 percent.

• Deposits at Sept. 30, 2017 were a record $15.79 billion, an increase of $32.1 million from June 30, 2017 and $7.12 billion from Sept. 30, 2016, reflecting year-over-year growth of 82.1 percent.

"Any significant merger integration like BNC requires a great deal of focus and energy," Turner said. "Despite that intense attention on the merger and integration, third quarter results also reflect significant focus on growing our client base as evidenced by our third quarter organic loan growth, which was exceptional. Concurrently, we also delivered strong earnings growth and enviable profitability metrics. We’ve also added 54 revenue producers to our ranks in 2017, with 19 of these in the Carolinas and Virginia. I remain excited that we are positioning our firm to be the employer of choice in all of our markets, which we believe will create still more opportunities to hire the best bankers in these markets over the next several quarters." 

FOCUSING ON PROFITABILITY:

• Revenue per fully-diluted share was a record $2.80 for the quarter ended Sept. 30, 2017, compared to $2.64 for the second quarter of 2017 and $2.58 for the third quarter of 2016.

• Net interest margin was 3.87 percent for the third quarter of 2017, compared to 3.68 percent for the second quarter of 2017 and 3.60 percent for the same quarter last year.

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◦ Excluding the accretion from the application of fair value accounting for net loans and deposits acquired in previous mergers, the net interest margin in each respective period would have approximated 3.42 percent for the third quarter of 2017, compared to 3.45 percent and 3.39 percent for the second quarter of 2017 and the third quarter of 2016, respectively.

• Return on average assets was 1.21 percent for the third quarter of 2017, compared to 1.30 percent for the second quarter of 2017 and 1.18 percent for the same quarter last year. Third quarter 2017 return on average tangible assets amounted to 1.32 percent, compared to 1.38 percent for the second quarter of 2017 and 1.26 percent for the same quarter last year.

◦ Excluding merger-related charges in each respective period, return on average assets was 1.31 percent for the third quarter of 2017, compared to 1.35 percent for the second quarter of 2017 and 1.31 percent for the third quarter of 2016, respectively. Excluding merger-related charges in each respective period, return on average tangible assets was 1.43 percent for the third quarter of 2017, compared to 1.44 percent for the second quarter of 2017 and 1.39 percent for the third quarter of 2016, respectively.

• Return on average equity for the third quarter of 2017 amounted to 6.99 percent, compared to 8.40 percent for the second quarter of 2017 and 8.93 percent for the same quarter last year. Third quarter 2017 return on average tangible equity amounted to 14.25 percent, compared to 13.58 percent for the second quarter of 2017 and 14.47 percent for the same quarter last year.

◦ Excluding merger-related charges in each respective period, return on average tangible equity amounted to 15.43 percent for the third quarter of 2017, compared to 14.19 percent for the second quarter of 2017 and 16.01 percent for the third quarter of 2016.

"As we expected, the third quarter reflects outstanding profitability metrics," said Harold R. Carpenter, Pinnacle's chief financial officer. "Our core margin decreased by approximately three basis points between the second and third quarter primarily due to the completion of the restructuring of the legacy BNC balance sheet, where we invested in initiatives to build more asset sensitivity. During the third quarter of 2017, accretion from fair value adjustments contributed approximately $18.9 million to our net interest income, compared to $6.4 million during the second quarter of 2017. At Sept. 30, 2017, we had an estimated $182.4 million of remaining discount from loans we have acquired from our previous mergers."

OTHER HIGHLIGHTS:

• Revenues

◦ Net interest income for the quarter ended Sept. 30, 2017 was $173.2 million, compared to $106.6 million for the second quarter of 2017 and $86.6 million for the third quarter of 2016. Annualized linked-quarter revenue growth approximated 210.3 percent when comparing revenue for the quarter ended Sept. 30, 2017 to revenue for the quarter ended June 30, 2017.

◦ Noninterest income for the quarter ended Sept. 30, 2017 was $43.0 million, compared to $35.1 million for the second quarter of 2017 and $31.7 million for the third quarter of 2016. Annualized linked-quarter growth in noninterest income approximated 90.0 percent when comparing noninterest income as of Sept. 30, 2017 to noninterest income as of June 30, 2017.

▪ Net gains from the sale of residential mortgage loans were $6.0 million for the quarter ended Sept. 30, 2017, compared to $4.7 million for the second quarter of 2017 and $5.1 million for the quarter ended Sept. 30, 2016, resulting in a year-over-year growth rate of 17.0 percent.

▪ Wealth management revenues, which include investment, trust and insurance services, were $8.4 million for the quarter ended Sept. 30, 2017, compared to $6.2 million for the second quarter of 2017 and $5.3 million for the quarter ended Sept. 30, 2016, resulting in a year-over-year growth rate of 57.4 percent.

▪ Income from the firm's investment in Bankers Healthcare Group, Inc. (BHG) was $8.9 million for the quarter ended Sept. 30, 2017, compared to $8.8 million for the quarter ended June 30, 2017 and $8.5 million for the third quarter last year.

"The third quarter of 2017 was another strong revenue quarter for our firm," Carpenter said. "I’m particularly excited about

the significant organic loan growth this year. Through the first nine months of this year, we are reporting approximately $1.21 billion of organic loan growth, which excludes the loan growth that BNC experienced prior to the completion of our merger. This balance sheet momentum will obviously help us grow our earnings in future periods.

"Growing share in the commercial and industrial segment and growing our fee revenues in the Carolinas and Virginia has received intense focus and will continue over the next several quarters. We are particularly interested in increasing the number of commercial and industrial relationship managers as well as replicating our wealth management business is in our new markets and developing more opportunities for our residential mortgage origination business. Income from our equity method investment in BHG has resulted in a net contribution of $25.5 million thus far this year. We remain very optimistic about BHG and anticipate exceptional results in the fourth quarter of this year."

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• Noninterest expense

◦ Noninterest expense for the quarter ended Sept. 30, 2017 was $109.7 million, compared to $71.8 million in the second quarter of 2017 and $63.5 million in the third quarter last year, reflecting a year-over-year increase of 72.8 percent.

▪ Salaries and employee benefits were $64.3 million in the third quarter of 2017, compared to $43.7 million in the second quarter of 2017 and $36.1 million in the third quarter of last year, reflecting a year-over-year increase of 78.3 percent.

▪ The efficiency ratio for the third quarter of 2017 increased to 50.8 percent, compared to 50.7 percent for the second quarter of 2017. The ratio of noninterest expenses to average assets decreased to 2.05 percent for the third quarter of 2017 from 2.16 percent in the second quarter of 2017.

– Excluding merger-related charges and other real estate owned (ORE) expense, the efficiency ratio was 46.4 percent for the third quarter of 2017, compared to 48.4 percent for the second quarter of 2017, and the ratio of noninterest expense to average assets was 1.88 percent for the third quarter of 2017, compared to 2.06 percent for the second quarter of 2017.

"Going into the third quarter, we expected improved operating leverage from the BNC merger," Carpenter said. "Excluding merger-related charges and ORE expense, we are reporting an efficiency ratio of 46.4 percent, which we believe will continue to improve over the next several quarters once the integration of the BNC synergy case is fully deployed. Our technology conversion plan involves converting the legacy Pinnacle systems in November 2017. Thus, we believe our synergy case will be largely realized in early first quarter of 2018."

• Asset quality

◦ Nonperforming assets increased to 0.51 percent of total loans and ORE at Sept. 30, 2017, compared to 0.44 percent at June 30, 2017 and 0.41 percent at Sept. 30, 2016. Nonperforming assets increased to $78.1 million at Sept. 30, 2017, compared to $65.4 million at June 30, 2017 and $34.1 million at Sept. 30, 2016.

◦ The allowance for loan losses represented 0.43 percent of total loans at Sept. 30, 2017, compared to 0.42 percent at June 30, 2017 and 0.73 percent at Sept. 30, 2016. 

▪ The ratio of the allowance for loan losses to nonperforming loans was 122.0 percent at Sept. 30, 2017, compared to 154.0 percent at June 30, 2017 and 211.5 percent at Sept. 30, 2016.

▪ Net charge-offs were $3.7 million for the quarter ended Sept. 30, 2017, compared to $7.5 million for the quarter ended June 30, 2017 and $7.3 million for the quarter ended Sept. 30, 2016. Annualized net charge-offs as a percentage of average loans for the quarter ended Sept. 30, 2017 were 0.14 percent, compared to 0.17 percent for the second quarter of 2017 and 0.35 percent for the third quarter of 2016.

▪ Provision for loan losses was $6.9 million in the third quarter of 2017, compared to $6.8 million in the second quarter of 2017 and $6.1 million in the third quarter of 2016.

"Overall, asset quality for our firm remains exceptional," Carpenter said. "Our credit administrators throughout the firm have made significant progress toward the development of one credit culture across our franchise. The soundness of our firm is something all of our associates take great pride in. Thus far, the conclusions we reached during the BNC due diligence process regarding the high quality of the BNC portfolio are being reconfirmed every day."

• Other Highlights

◦ The firm incurred pre-tax merger-related charges of $8.8 million during the third quarter of 2017, primarily attributable tothe continued cultural and technology integration and associate retention awards.

◦ On Jan. 1, 2017, Pinnacle adopted FASB Accounting Standards Update (ASU) 2016-09, Stock Compensation Improvements to Employee Share-Based Payment Activity, which represented a change in accounting for the tax effects related to vesting of common shares and the exercise of stock options previously granted to the firm's employees through its various equity compensation plans. This change resulted in a reduction in third quarter 2017 tax expense of $59,000, compared to a reduction in tax expense of $789,000 and $3.8 million in the second and first quarters of 2017, respectively.

BOARD OF DIRECTORS DECLARES DIVIDEND

On Oct. 17, 2017, Pinnacle’s Board of Directors approved a quarterly cash dividend of $0.14 per common share to be paid on Nov. 24, 2017 to common shareholders of record as of the close of business on Nov. 3, 2017. The amount and timing of any future dividend payments to common shareholders will be subject to the discretion of Pinnacle’s Board of Directors.

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WEBCAST AND CONFERENCE CALL INFORMATION

Pinnacle will host a webcast and conference call at 8:30 a.m. (CDT) on Oct. 18, 2017 to discuss third quarter 2017 results and other matters. To access the call for audio only, please call 1-877-602-7944. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com.

For those unable to participate in the webcast, it will be archived on the investor relations page of Pinnacle's website at www.pnfp.com for 90 days following the presentation.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm earned a place on Fortune's 2017 list of the 100 Best Companies to Work For in the U.S., and American Banker recognized Pinnacle as the sixth best bank to work for in the country in 2016.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $21.8 billion in assets as of Sept. 30, 2017. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia.

Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com.

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Forward-Looking Statements

All statements, other than statements of historical fact, included in this press release, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:  (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short-term interest rate environment; (iii) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (vi) increased competition with other financial institutions; (vii) greater than anticipated adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout Tennessee, North Carolina, South Carolina and Virginia,  particularly in commercial and residential real estate markets; (viii) rapid fluctuations or unanticipated changes in interest rates on loans or deposits; (ix) the results of regulatory examinations; (x) the ability to retain large, uninsured deposits; (xi) a merger or acquisition, like Pinnacle Financial's merger with BNC; (xii) risks of expansion into new geographic or product markets; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiv) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors or otherwise to attract customers from other financial institutions; (xv) further deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xvi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; (xvii) risks associated with litigation, including the applicability of insurance coverage; (xviii) the risk of successful integration of the businesses Pinnacle Financial has recently acquired with its business; (xix) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xx) the vulnerability of Pinnacle Bank's network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance costs as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients;  (xxii) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by the terms of our agreement with them; (xxii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxiv) the risk that the cost savings and any revenue synergies from Pinnacle Financial's merger with BNC may not be realized or take longer than anticipated to be realized; (xxv) disruption from Pinnacle Financial's merger with BNC with customers, suppliers, employee or other business partners relationships; (xxvi) the risk of successful integration of Pinnacle Financial's and BNC's businesses; (xxvii) the amount of the costs, fees, expenses and charges related to Pinnacle Financial's merger with BNC; (xxviii) reputational risk and the reaction of the parties' customers, suppliers, employees or other business partners to Pinnacle Financial's merger with BNC; (xxix) the risk that the integration of Pinnacle Financial's and BNC's operations will be materially delayed or will be more costly or difficult than expected; and (xxx) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.

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Non-GAAP Financial Matters

This release contains certain non-GAAP financial measures, including, without limitation, earnings per diluted share, efficiency ratio, core net interest margin, noninterest expense and the ratio of noninterest expense to average assets and noninterest expense to the sum of net interest income and noninterest income, in each case excluding the impact of expenses related to other real estate owned, gains or losses on sale of investments and other matters for the accounting periods presented. This release also includes non-GAAP financial measures which exclude expenses associated with Pinnacle Bank's mergers with CapitalMark Bank & Trust, Magna Bank, Avenue Financial Holdings, Inc. and BNC, as well as Pinnacle Financial's and its bank subsidiary's investments in BHG. This release may also contain certain other non-GAAP capital ratios and performance measures. These non-GAAP financial measures exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue, Magna Bank, CapitalMark Bank & Trust , Mid-America Bancshares, Inc. , Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.

Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2017 versus certain periods in 2016 and to internally prepared projections.

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PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS – UNAUDITED
	September 30, 2017			December 31, 2016			September 30, 2016
ASSETS
Cash and noninterest-bearing due from banks	$	132,324,313		$	84,732,291		$	81,750,005
Interest-bearing due from banks	270,563,317			97,529,713			165,262,687
Federal funds sold and other	5,394,587			1,383,416			9,964,345
Cash and cash equivalents	408,282,217			183,645,420			256,977,037
Securities available-for-sale, at fair value	2,880,180,805			1,298,546,056			1,223,751,538
Securities held-to-maturity (fair value of $21,021,555, $25,233,254 and $27,025,050 at Sept. 30, 2017, December 31, 2016 and Sept. 30, 2016, respectively)	20,847,849			25,251,316			26,605,251
Consumer loans held-for-sale	105,031,578			47,710,120			55,986,356
Commercial mortgage loans held-for-sale	20,385,491			22,587,971			15,531,588
Loans	15,259,785,972			8,449,924,736			8,241,020,478
Less allowance for loan losses	(65,159,286		)	(58,980,475		)	(60,248,505		)
Loans, net	15,194,626,686			8,390,944,261			8,180,771,973
Premises and equipment, net	270,136,166			88,904,145			84,916,306
Equity method investment	211,501,901			205,359,844			199,429,034
Accrued interest receivable	54,286,991			28,234,826			25,945,676
Goodwill	1,802,534,059			551,593,796			550,579,616
Core deposits and other intangible assets	59,780,903			15,104,038			16,240,711
Other real estate owned	24,338,967			6,089,804			5,589,046
Other assets	738,437,468			330,651,002			336,065,529
Total assets	$	21,790,371,081		$	11,194,622,599		$	10,978,389,661
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest-bearing	$	4,099,086,158		$	2,399,191,152		$	2,369,224,840
Interest-bearing	2,571,764,582			1,808,331,784			1,575,359,467
Savings and money market accounts	6,595,639,931			3,714,930,351			3,834,770,407
Time	2,523,094,175			836,853,761			890,791,297
Total deposits	15,789,584,846			8,759,307,048			8,670,146,011
Securities sold under agreements to repurchase	129,557,107			85,706,558			84,316,918
Federal Home Loan Bank advances	1,623,946,639			406,304,187			382,338,103
Subordinated debt and other borrowings	465,460,556			350,768,050			262,506,956
Accrued interest payable	10,715,285			5,573,377			3,009,165
Other liabilities	97,757,463			90,267,267			100,428,538
Total liabilities	18,117,021,896			9,697,926,487			9,502,745,691
Stockholders' equity:
Preferred stock, no par value, 10,000,000 shares authorized; no shares issued and outstanding	—			—			—
Common stock, par value $1.00; 90,000,000 shares authorized; 77,652,143 shares, 46,359,377 shares and 46,159,832 shares issued and outstanding at Sept. 30, 2017, December 31, 2016 and Sept. 30, 2016, respectively	77,652,143			46,359,377			46,159,832
Additional paid-in capital	3,105,577,594			1,083,490,728			1,074,112,218
Retained earnings	503,270,311			381,072,505			351,484,480
Accumulated other comprehensive gain (loss), net of taxes	(13,150,863		)	(14,226,498		)	3,887,440
Total stockholders' equity	3,673,349,185			1,496,696,112			1,475,643,970
Total liabilities and stockholders' equity	$	21,790,371,081		$	11,194,622,599		$	10,978,389,661
This information is preliminary and based on company data available at the time of the presentation.

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PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED
	Three months ended						Nine months ended
	September 30, 2017		June 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Interest income:
Loans, including fees	$	183,841,608	$	112,319,700	$	90,090,166	$	389,379,255	$	241,537,476
Securities
Taxable	12,066,502		8,265,225		5,012,047		26,764,815		14,050,757
Tax-exempt	4,620,340		2,235,517		1,544,535		8,533,438		4,481,309
Federal funds sold and other	1,638,704		922,796		732,951		3,375,817		2,046,244
Total interest income	202,167,154		123,743,238		97,379,699		428,053,325		262,115,786
Interest expense:
Deposits	19,103,495		10,993,942		6,625,534		38,216,351		16,614,664
Securities sold under agreements to repurchase	148,442		78,438		51,270		276,646		138,852
Federal Home Loan Bank advances and other borrowings	9,733,510		6,043,144		4,067,951		20,984,034		9,781,363
Total interest expense	28,985,447		17,115,524		10,744,755		59,477,031		26,534,879
Net interest income	173,181,707		106,627,714		86,634,944		368,576,294		235,580,907
Provision for loan losses	6,920,184		6,812,389		6,108,183		17,383,595		15,281,854
Net interest income after provision for loan losses	166,261,523		99,815,325		80,526,761		351,192,699		220,299,053
Noninterest income:
Service charges on deposit accounts	5,920,824		4,178,736		3,778,070		13,955,043		10,651,145
Investment services	3,660,103		3,110,088		2,592,077		9,592,025		7,437,396
Insurance sales commissions	2,123,549		1,461,160		1,233,098		5,443,599		4,131,784
Gains on mortgage loans sold, net	5,962,916		4,667,537		5,096,838		14,785,405		12,885,690
Investment gains on sales, net	—		—		—		—		—
Trust fees	2,636,212		1,677,079		1,522,763		6,018,570		4,595,330
Income from equity method investment	8,936,626		8,754,718		8,474,899		25,514,081		23,266,733
Other noninterest income	13,736,779		11,207,239		8,994,164		33,106,437		27,292,477
Total noninterest income	42,977,009		35,056,557		31,691,909		108,415,160		90,260,555
Noninterest expense:
Salaries and employee benefits	64,287,986		43,675,551		36,053,673		146,315,721		102,824,676
Equipment and occupancy	16,590,119		10,712,711		9,401,001		36,977,488		25,843,737
Other real estate, net	512,490		62,960		17,032		827,423		351,777
Marketing and other business development	2,222,290		2,126,693		1,349,557		6,228,189		4,150,761
Postage and supplies	1,754,789		1,122,251		922,078		4,073,485		2,929,007
Amortization of intangibles	3,077,277		1,471,568		1,424,956		5,744,974		3,144,786
Merger-related expenses	8,847,306		3,221,060		5,672,731		12,740,382		8,482,385
Other noninterest expense	12,443,659		9,404,755		8,685,238		30,679,179		25,793,600
Total noninterest expense	109,735,916		71,797,549		63,526,266		243,586,841		173,520,729
Income before income taxes	99,502,616		63,074,333		48,692,404		216,021,018		137,038,879
Income tax expense	35,060,471		19,987,812		16,316,209		68,839,305		45,910,648
Net income	$	64,442,145	$	43,086,521	$	32,376,195	$	147,181,713	$	91,128,231
Per share information:
Basic net income per common share	$	0.84	$	0.81	$	0.71	$	2.48	$	2.16
Diluted net income per common share	$	0.83	$	0.80	$	0.71	$	2.46	$	2.12
Weighted average shares outstanding:
Basic	76,678,584		53,097,776		45,294,051		59,371,202		42,228,280
Diluted	77,232,098		53,665,925		45,918,368		59,910,344		42,928,467
This information is preliminary and based on company data available at the time of the presentation.

8

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
(dollars in thousands)	September			June		March		December		September		June
	2017			2017		2017		2016		2016		2016
Balance sheet data, at quarter end:
Commercial real estate - mortgage loans	$	6,450,042		6,387,372		3,181,584		3,193,496		2,991,940		2,467,219
Consumer real estate  - mortgage loans	2,541,180			2,552,927		1,196,375		1,185,917		1,185,966		1,068,620
Construction and land development loans	1,939,809			1,772,799		1,015,127		912,673		930,230		816,681
Commercial and industrial loans	3,971,227			3,688,357		2,980,840		2,891,710		2,873,643		2,492,016
Consumer and other	357,528			357,310		268,106		266,129		259,241		246,866
Total loans	15,259,786			14,758,765		8,642,032		8,449,925		8,241,020		7,091,402
Allowance for loan losses	(65,159		)	(61,944	)	(58,350	)	(58,980	)	(60,249	)	(61,412	)
Securities	2,901,029			2,448,198		1,604,774		1,323,797		1,250,357		1,137,733
Total assets	21,790,371			20,886,154		11,724,601		11,194,623		10,978,390		9,735,668
Noninterest-bearing deposits	4,099,086			3,893,603		2,508,680		2,399,191		2,369,225		2,013,847
Total deposits	15,789,585			15,757,475		9,280,597		8,759,307		8,670,146		7,292,826
Securities sold under agreements to repurchase	129,557			205,008		71,157		85,707		84,317		73,317
FHLB advances	1,623,947			725,230		181,264		406,304		382,338		783,240
Subordinated debt and other borrowings	465,461			465,419		350,849		350,768		262,507		229,714
Total stockholders' equity	3,673,349			3,615,327		1,723,075		1,496,696		1,475,644		1,262,154
Balance sheet data, quarterly averages:
Total loans	$	15,016,642		9,817,139		8,558,267		8,357,201		8,232,963		6,997,592
Securities	2,741,493			1,798,334		1,440,917		1,265,096		1,232,973		1,064,060
Total earning assets	18,140,036			11,885,118		10,261,974		9,884,701		9,794,094		8,362,657
Total assets	21,211,459			13,335,359		11,421,654		11,037,555		10,883,547		9,305,941
Noninterest-bearing deposits	3,953,855			2,746,499		2,434,875		2,445,157		2,304,533		2,003,523
Total deposits	15,828,480			10,394,267		9,099,472		8,791,206		8,454,424		7,093,349
Securities sold under agreements to repurchase	160,726			99,763		79,681		82,415		87,067		65,121
FHLB advances	1,059,032			399,083		212,951		307,039		583,724		653,750
Subordinated debt and other borrowings	473,805			375,249		355,082		319,790		266,934		225,240
Total stockholders' equity	3,655,029			2,057,505		1,657,072		1,493,684		1,442,440		1,247,762
Statement of operations data, for the three months ended:
Interest income	$	202,167		123,743		102,143		101,493		97,380		83,762
Interest expense	28,985			17,116		13,376		12,080		10,745		8,718
Net interest income	173,182			106,627		88,767		89,413		86,635		75,044
Provision for loan losses	6,920			6,812		3,651		3,046		6,108		5,280
Net interest income after provision for loan losses	166,262			99,815		85,116		86,367		80,527		69,764
Noninterest income	42,977			35,057		30,382		30,743		31,692		32,713
Noninterest expense	109,736			71,798		62,054		62,765		63,526		55,931
Income before taxes	99,503			63,074		53,444		54,345		48,693		46,546
Income tax expense	35,061			19,988		13,791		18,248		16,316		15,759
Net income	$	64,442		43,086		39,653		36,097		32,377		30,787
Profitability and other ratios:
Return on avg. assets (1)	1.21		%	1.30	%	1.41	%	1.30	%	1.18	%	1.33	%
Return on avg. equity (1)	6.99		%	8.40	%	9.70	%	9.61	%	8.93	%	9.92	%
Return on avg. tangible common equity (1)	14.25		%	13.58	%	14.74	%	15.49	%	14.47	%	15.34	%
Dividend payout ratio (17)	17.34		%	18.01	%	18.67	%	19.31	%	19.93	%	20.90	%
Net interest margin (1)  (2)	3.87		%	3.68	%	3.60	%	3.72	%	3.60	%	3.72	%
Noninterest income to total revenue (3)	19.88		%	24.74	%	25.50	%	25.59	%	26.78	%	30.36	%
Noninterest income to avg. assets (1)	0.80		%	1.05	%	1.08	%	1.11	%	1.16	%	1.41	%
Noninterest exp. to avg. assets (1)	2.05		%	2.16	%	2.20	%	2.26	%	2.32	%	2.42	%
Noninterest expense (excluding ORE expenses, and merger-related charges) to avg. assets (1)	1.88		%	2.06	%	2.17	%	2.14	%	2.11	%	2.37	%
Efficiency ratio (4)	50.77		%	50.67	%	52.08	%	52.24	%	53.69	%	51.90	%
Avg. loans to avg. deposits	94.87		%	94.45	%	94.05	%	95.06	%	97.38	%	98.65	%
Securities to total assets	13.31		%	11.72	%	13.69	%	11.82	%	11.39	%	11.69	%
This information is preliminary and based on company data available at the time of the presentation.

9

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED
(dollars in thousands)	Three months ended						Three months ended
	September 30, 2017						September 30, 2016
	Average Balances		Interest		Rates/ Yields		Average Balances		Interest		Rates/ Yields
Interest-earning assets
Loans (1)	$	15,016,642	$	183,842	4.91	%	$	8,232,963	$	90,090	4.43	%
Securities
Taxable	2,080,512		12,066		2.30	%	1,010,090		5,012		1.97	%
Tax-exempt (2)	660,981		4,620		3.72	%	222,883		1,545		3.70	%
Federal funds sold and other	379,769		1,639		1.71	%	328,158		733		0.89	%
Total interest-earning assets	18,137,904		$	202,167	4.50	%	9,794,094		$	97,380	3.98	%
Nonearning assets
Intangible assets	1,860,282						590,348
Other nonearning assets	1,213,273						499,105
Total assets	$	21,211,459					$	10,883,547
Interest-bearing liabilities
Interest-bearing deposits:
Interest checking	$	2,658,733	$	3,368	0.50	%	$	1,437,196	$	985	0.27	%
Savings and money market	6,727,136		10,725		0.63	%	3,808,388		4,003		0.42	%
Time	2,488,756		5,010		0.80	%	904,307		1,638		0.72	%
Total interest-bearing deposits	11,874,625		19,103		0.64	%	6,149,891		6,626		0.43	%
Securities sold under agreements to repurchase	160,726		148		0.37	%	87,067		51		0.23	%
Federal Home Loan Bank advances	1,059,032		3,959		1.48	%	583,724		1,280		0.87	%
Subordinated debt and other borrowings	473,805		5,775		4.84	%	266,934		2,788		4.15	%
Total interest-bearing liabilities	13,568,188		28,985		0.85	%	7,087,616		10,745		0.60	%
Noninterest-bearing deposits	3,953,855		—		—		2,304,533		—		—
Total deposits and interest-bearing liabilities	17,522,043		$	28,985	0.66	%	9,392,149		$	10,745	0.46	%
Other liabilities	34,387						48,958
Stockholders' equity	3,655,029						1,442,440
Total liabilities and stockholders' equity	$	21,211,459					$	10,883,547
Netinterestincome			$	173,182					$	86,635
Net interest spread (3)					3.65	%					3.38	%
Net interest margin (4)					3.87	%					3.60	%
(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis.
(3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the quarter ended September 30, 2017 would have been 3.84% compared to a net interest spread of 3.53% for the quarter ended September 30, 2016.
(4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.
This information is preliminary and based on company data available at the time of the presentation.

10

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED
(dollars in thousands)	Nine months ended						Nine months ended
	September 30, 2017						September 30, 2016
	Average Balances		Interest		Rates/ Yields		Average Balances		Interest		Rates/ Yields
Interest-earning assets
Loans (1)	$	11,154,340	$	389,379	4.73	%	$	7,327,519	$	241,538	4.48	%
Securities
Taxable	1,593,590		26,765		2.25	%	901,059		14,051		2.08	%
Tax-exempt (2)	404,756		8,533		3.78	%	196,340		4,481		4.09	%
Federal funds sold and other	300,552		3,376		1.50	%	303,996		2,046		0.90	%
Total interest-earning assets	13,453,238		$	428,053	4.34	%	8,728,914		$	262,116	4.04	%
Nonearning assets
Intangible assets	1,075,109						490,804
Other nonearning assets	830,337						465,156
Total assets	$	15,358,684					$	9,684,874
Interest-bearing liabilities
Interest-bearing deposits:
Interest checking	$	2,206,934	$	7,774	0.47	%	$	1,398,494	$	2,820	0.27	%
Savings and money market	5,043,033		21,175		0.56	%	3,299,102		9,974		0.40	%
Time	1,498,114		9,267		0.83	%	743,882		3,820		0.69	%
Total interest-bearing deposits	8,748,081		38,216		0.58	%	5,441,478		16,614		0.41	%
Securities sold under agreements to repurchase	113,687		277		0.33	%	73,821		139		0.25	%
Federal Home Loan Bank advances	560,121		6,347		1.52	%	540,360		3,073		0.76	%
Subordinated debt and other borrowings	401,814		14,637		4.87	%	218,424		6,709		4.10	%
Total interest-bearing liabilities	9,823,703		59,477		0.81	%	6,274,083		26,535		0.56	%
Noninterest-bearing deposits	3,050,640		—		—		2,090,165		—		—
Total deposits and interest-bearing liabilities	12,874,343		$	59,477	0.62	%	8,364,248		$	26,535	0.42	%
Other liabilities	20,486						27,295
Stockholders' equity	2,463,855						1,293,331
Total liabilities and stockholders' equity	$	15,358,684					$	9,684,874
Netinterestincome			$	368,576					$	235,581
Net interest spread (3)					3.53	%					3.48	%
Net interest margin (4)					3.75	%					3.69	%
(1) Average balances of nonperforming loans are included in the above amounts.
(2) Yields computed on tax-exempt instruments on a tax equivalent basis.
(3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the nine months ended September 30, 2017 would have been 3.72% compared to a net interest spread of 3.62% for the nine months ended September 30, 2016.
(4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period.
This information is preliminary and based on company data available at the time of the presentation.

11

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
(dollars in thousands)	September			June		March		December		September		June
	2017			2017		2017		2016		2016		2016
Asset quality information and ratios:
Nonperforming assets:
Nonaccrual loans	$	53,414		40,217		25,051		27,577		28,487		33,785
Other real estate (ORE) and other nonperforming assets (NPAs)	24,682			25,153		6,235		6,090		5,656		5,183
Total nonperforming assets	$	78,096		65,370		31,286		33,667		34,143		38,968
Past due loans over 90 days and still accruing interest	$	3,263		1,691		1,110		1,134		2,093		1,623
Troubled debt restructurings (5)	$	15,157		14,248		14,591		15,009		8,503		9,861
Net loan charge-offs	$	3,705		7,499		4,282		4,314		7,271		6,108
Allowance for loan losses to nonaccrual loans	122.0		%	154.0	%	232.9	%	213.9	%	211.5	%	181.8	%
As a percentage of total loans:
Past due accruing loans over 30 days	0.24		%	0.20	%	0.17	%	0.26	%	0.24	%	0.33	%
Potential problem loans (6)	0.97		%	1.26	%	1.27	%	1.36	%	1.13	%	1.38	%
Allowance for loan losses	0.43		%	0.42	%	0.68	%	0.70	%	0.73	%	0.87	%
Nonperforming assets to total loans, ORE and other NPAs	0.51		%	0.44	%	0.36	%	0.40	%	0.41	%	0.55	%
Nonperforming assets to total assets	0.36		%	0.31	%	0.27	%	0.30	%	0.31	%	0.40	%
Classified asset ratio (Pinnacle Bank) (8)	12.7		%	14.2	%	12.9	%	16.4	%	15.2	%	19.3	%
Annualized net loan charge-offs to avg. loans (7)	0.14		%	0.17	%	0.20	%	0.21	%	0.35	%	0.35	%
Wtd. avg. commercial loan internal risk ratings (6)	4.5			4.5		4.5		4.5		4.6		4.5
Interest rates and yields:
Loans	4.91		%	4.66	%	4.49	%	4.60	%	4.43	%	4.53	%
Securities	2.64		%	2.51	%	2.44	%	2.26	%	2.29	%	2.46	%
Total earning assets	4.50		%	4.21	%	4.06	%	4.11	%	3.98	%	4.06	%
Total deposits, including non-interest bearing	0.48		%	0.42	%	0.36	%	0.33	%	0.31	%	0.29	%
Securities sold under agreements to repurchase	0.37		%	0.32	%	0.25	%	0.22	%	0.23	%	0.24	%
FHLB advances	1.48		%	1.49	%	1.72	%	1.38	%	0.87	%	0.77	%
Subordinated debt and other borrowings	4.84		%	4.87	%	4.92	%	4.56	%	4.15	%	4.19	%
Total deposits and interest-bearing liabilities	0.66		%	0.61	%	0.56	%	0.51	%	0.46	%	0.44	%
Pinnacle Financial Partners capital ratios (8):
Stockholders' equity to total assets	16.9		%	17.3	%	14.7	%	13.4	%	13.4	%	13.0	%
Common equity Tier one	9.4		%	9.5	%	9.8	%	7.9	%	7.6	%	7.9	%
Tier one risk-based	9.4		%	9.5	%	10.6	%	8.6	%	8.4	%	8.8	%
Total risk-based	12.3		%	12.6	%	13.7	%	11.9	%	10.5	%	11.0	%
Leverage	8.9		%	14.5	%	10.3	%	8.6	%	8.3	%	8.7	%
Tangible common equity to tangible assets	9.1		%	9.2	%	10.4	%	8.8	%	8.7	%	8.9	%
Pinnacle Bank ratios:
Common equity Tier one	10.7		%	11.0	%	11.1	%	9.3	%	8.6	%	8.4	%
Tier one risk-based	10.7		%	11.0	%	11.1	%	9.3	%	8.6	%	8.4	%
Total risk-based	11.8		%	12.1	%	12.9	%	11.2	%	10.5	%	10.6	%
Leverage	10.1		%	16.7	%	10.9	%	9.2	%	8.6	%	8.3	%
Construction and land development loans as a percent of total capital (20)	88.1		%	85.1	%	75.2	%	80.3	%	87.9	%	89.7	%
Non-owner occupied commercial real estate and multi-family as a percent of total capital (20)	289.1		%	286.4	%	220.9	%	256.0	%	265.5	%	253.9	%
Per share data:
Earnings  – basic	$	0.84		0.81		0.83		0.79		0.71		0.75
Earnings  – diluted	$	0.83		0.80		0.82		0.78		0.71		0.73
Common dividends per share	$	0.14		0.14		0.14		0.14		0.14		0.14
Book value per common share at quarter end (9)	$	47.31		46.56		34.61		32.28		31.97		29.92
Tangible book value per common share at quarter end (9)	$	23.32		22.58		23.25		20.06		19.69		19.58
Investor information:
Closing sales price on last trading day of quarter	$	66.95		62.80		66.45		69.30		54.08		48.85
High closing sales price during quarter	$	66.95		69.10		71.05		71.15		57.26		51.73
Low closing sales price during quarter	$	58.50		60.00		66.45		49.70		47.44		45.15
This information is preliminary and based on company data available at the time of the presentation.

12

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
(dollars in thousands, except per share data)		September		June		March		December		September		June
		2017		2017		2017		2016		2016		2016
Other information:
Gains on mortgage loans sold:
Mortgage loan sales:
Gross loans sold	$	299,763		261,981		160,740		221,126		214,394		198,239
Gross fees (10)	$	9,050		7,361		4,427		6,535		6,702		5,530
Gross fees as a percentage of loans originated		3.02	%	3.00	%	2.75	%	2.96	%	3.13	%	2.79	%
Net gain on mortgage loans sold	$	5,963		4,668		4,155		2,869		5,097		4,221
Investment gains on sales of securities, net (16)	$	—		—		—		395		—		—
Brokerage account assets, at quarter end (11)	$	2,979,936		2,815,501		2,280,355		2,198,334		2,090,316		1,964,769
Trust account managed assets, at quarter end	$	1,880,488		1,804,811		1,011,964		1,002,742		978,356		953,592
Core deposits (12)	$	13,609,194		13,529,398		8,288,247		7,834,973		7,714,552		6,591,063
Core deposits to total funding (12)		75.6	%	78.9	%	83.4	%	81.6	%	82.1	%	78.7	%
Risk-weighted assets	$	18,164,765		17,285,264		10,489,944		10,210,711		10,020,690		8,609,968
Total assets per full-time equivalent employee	$	9,930		9,398		9,630		9,491		9,323		9,176
Annualized revenues per full-time equivalent employee	$	390.8		255.7		396.9		405.3		399.8		408.5
Annualized expenses per full-time equivalent employee	$	198.4		129.6		206.7		211.7		214.6		212.0
Number of employees (full-time equivalent)		2,194.5		2,222.5		1,217.5		1,179.5		1,177.5		1,061.0
Associate retention rate (13)		98.3	%	87.1	%	92.9	%	92.7	%	93.9	%	95.2	%
Selected economic information (in thousands) (14):
Charleston MSA nonfarm employment - August		1,178.6		1,179.4		1,170.6		1,167.7		1,160.9		1,148.1
Nashville MSA nonfarm employment - August		982.5		975.1		977.1		968.5		957.8		947.7
Memphis MSA nonfarm employment - August		647.2		648.1		646.4		644.7		641.3		637.2
Raleigh MSA nonfarm employment - August		626.1		617.9		612.0		609.3		606.6		601.0
Knoxville MSA nonfarm employment - August		394.6		391.3		393.8		395.5		394.1		393.1
Greensboro MSA nonfarm employment - August		364.2		362.9		362.5		360.8		358.4		357.8
Charlotte MSA nonfarm employment - August		354.3		352.5		354.2		350.9		349.4		346.0
Winston-Salem MSA nonfarm employment - August		263.0		260.8		263.2		261.6		262.1		261.3
Chattanooga MSA nonfarm employment - August		259.2		260.7		256.3		254.6		252.2		252.0
Roanoke MSA nonfarm employment - August		165.0		164.7		164.1		162.4		162.4		162.3
Greenville MSA nonfarm employment - August		79.1		78.6		78.9		79.1		79.5		79.2
Charleston MSA unemployment - August		3.9	%	3.9	%	4.5	%	4.7	%	4.8	%	4.6	%
Nashville MSA unemployment - August		2.7	%	2.8	%	3.7	%	4.1	%	4.1	%	3.7	%
Memphis MSA unemployment - August		4.2	%	4.3	%	5.0	%	5.5	%	5.6	%	5.2	%
Raleigh MSA unemployment - August		3.6	%	3.6	%	4.2	%	4.4	%	4.4	%	4.2	%
Knoxville MSA unemployment - August		3.3	%	3.5	%	4.5	%	4.9	%	4.9	%	4.4	%
Greensboro MSA unemployment - August		4.4	%	4.3	%	5.0	%	5.2	%	5.3	%	5.0	%
Charlotte MSA unemployment - August		3.4	%	3.2	%	3.7	%	3.7	%	3.9	%	4.1	%
Winston-Salem MSA unemployment - August		4.0	%	4.0	%	4.6	%	4.9	%	4.9	%	4.6	%
Chattanooga MSA unemployment - August		3.8	%	3.9	%	4.6	%	5.2	%	5.3	%	4.7	%
Roanoke MSA unemployment - August		3.8	%	3.8	%	3.6	%	4.0	%	4.2	%	3.8	%
Greenville MSA unemployment - August		4.5	%	4.5	%	5.3	%	5.6	%	5.5	%	5.2	%
Charleston, SC residential median home price - August	$	369		360		365		349		350		348
Nashville, TN residential median home price - August	$	329		339		325		304		299		299
Memphis, TN residential median home price - August	$	90		88		77		78		82		80
Raleigh, NC residential median home price - August	$	309		299		299		280		275		265
Knoxville, TN residential median home price - August	$	195		197		185		175		174		167
Greensboro, NC residential median home price - August	$	179		184		173		163		157		169
Charlotte, SC residential median home price - August	$	270		284		265		254		247		257
Winston-Salem, NC residential median home price - August	$	159		164		159		149		148		149
Chattanooga, TN residential median home price - August	$	209		225		199		194		184		185
Roanoke, VA residential median home price - August	$	175		171		164		150		160		159
Greenville, NC residential median home price - August	$	265		264		275		261		249		244
This information is preliminary and based on company data available at the time of the presentation.

13

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
(dollars in thousands, except per share data)		September		June		March		December		September		June
		2017		2017		2017		2016		2016		2016
Net interest income	$	173,182		106,627		88,767		89,413		86,635		75,044
Noninterest income		42,977		35,057		30,382		30,743		31,692		32,713
Less: Investment (gains) and losses on sales, net		—		—		—		(395	)	—		—
Noninterest income excluding investment (gains) and losses on sales of securities, net		42,977		35,057		30,382		30,348		31,692		32,713
Total revenues excluding the impact of investment (gains) and losses on sales of securities, net		216,159		141,684		119,149		119,761		118,327		107,757
Noninterest expense		109,736		71,798		62,054		62,765		63,526		55,931
Less:   Other real estate expense		512		63		252		44		17		222
Merger-related charges		8,847		3,221		672		3,264		5,672		980
Noninterest expense excluding the impact of other real estate expense and merger-related charges		100,377		68,514		61,130		59,457		57,837		54,729
Adjusted pre-tax pre-provision income (15)	$	115,782		73,170		58,019		60,304		60,490		53,028
Efficiency ratio (4)		50.77	%	50.67	%	52.08	%	52.24	%	53.69	%	51.90	%
Adjustment due to investment gains and losses, ORE expense and merger-related charges		(4.33	%)	(2.30	%)	(0.77	%)	(2.59	%)	(4.81	%)	(1.12	%)
Efficiency ratio (excluding investment gains and losses, ORE expense, and merger-related charges)		46.44	%	48.37	%	51.31	%	49.65	%	48.88	%	50.79	%
Total average assets	$	21,211,459		13,335,359		11,421,654		11,037,555		10,883,547		9,305,941
Noninterest expense to avg. assets		2.05	%	2.16	%	2.20	%	2.26	%	2.32	%	2.42	%
Adjustment due to ORE expenses and merger-related charges		(0.17	%)	(0.10	%)	(0.03	%)	(0.12	%)	(0.21	%)	(0.05	%)
Noninterest expense (excluding ORE expense, and merger-related charges) to avg. assets (1)		1.88	%	2.06	%	2.17	%	2.14	%	2.11	%	2.37	%
Equity Method Investment (18)
Fee income from BHG, net of amortization	$	8,937		8,755		7,823		8,136		8,475		9,644
Funding cost to support investment		1,951		1,844		1,775		1,797		1,760		1,732
Pre-tax impact of BHG		6,986		6,911		6,048		6,339		6,715		7,912
Income tax expense at statutory rates		2,741		2,711		2,373		2,487		2,634		3,104
Earnings attributable to BHG	$	4,245		4,200		3,675		3,852		4,081		4,808
Basic earnings per share attributable to BHG	$	0.06		0.08		0.08		0.08		0.09		0.12
Diluted earnings per share attributable to BHG	$	0.06		0.08		0.08		0.08		0.09		0.11
Net income	$	64,442		43,086		39,653		36,097		32,377		30,787
Merger-related charges		8,847		3,221		672		3,264		5,672		980
Tax effect on merger-related charges (19)		(3,471	)	(1,264	)	(264	)	(1,281	)	(2,225	)	(385	)
Net income less merger-related charges	$	69,818		45,043		40,061		38,080		35,824		31,382
Basic earnings per share	$	0.84		0.81		0.83		0.79		0.71		0.75
Adjustment to basic earnings per share due to merger-related charges		0.07		0.04		0.01		0.05		0.08		0.01
Basic earnings per share excluding merger-related charges	$	0.91		0.85		0.84		0.84		0.79		0.76
Diluted earnings per share	$	0.83		0.80		0.82		0.78		0.71		0.73
Adjustment to diluted earnings per share due to merger-related charges		0.07		0.04		0.01		0.05		0.07		0.02
Diluted earnings per share excluding merger-related charges	$	0.90		0.84		0.83		0.83		0.78		0.75
This information is preliminary and based on company data available at the time of the presentation.

14

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED
(dollars in thousands, except per share data)		September		June		March		December		September		June
		2017		2017		2017		2016		2016		2016
Return on average assets		1.21	%	1.30	%	1.41	%	1.30	%	1.18	%	1.33	%
Adjustment due to merger-related charges		0.10	%	0.05	%	0.01	%	0.07	%	0.13	%	0.03	%
Return on average assets (excluding merger-related charges)		1.31	%	1.35	%	1.42	%	1.37	%	1.31	%	1.36	%
Tangible assets:
Total assets	$	21,790,371		20,886,154		11,724,601		11,194,623		10,978,390		9,735,668
Less:   Goodwill		(1,802,534	)	(1,800,742	)	(551,546	)	(551,594	)	(550,580	)	(427,574	)
Core deposit and other intangible assets		(59,781	)	(60,964	)	(13,908	)	(15,104	)	(16,241	)	(8,821	)
Net tangible assets	$	19,928,056		19,024,448		11,159,147		10,627,925		10,411,569		9,299,273
Tangible equity:
Total stockholders' equity	$	3,673,349		3,615,327		1,723,075		1,496,696		1,475,644		1,262,154
Less: Goodwill		(1,802,534	)	(1,800,742	)	(551,546	)	(551,594	)	(550,580	)	(427,574	)
Core deposit and other intangible assets		(59,781	)	(60,964	)	(13,908	)	(15,104	)	(16,241	)	(8,821	)
Net tangible common equity	$	1,811,034		1,753,621		1,157,621		929,998		908,823		825,759
Ratio of tangible common equity to tangible assets		9.09	%	9.22	%	10.37	%	8.75	%	8.73	%	8.88	%
Average tangible assets:
Average assets	$	21,211,459		13,335,359		11,421,654		11,037,555		10,883,547		9,305,941
Less: Average goodwill		(1,800,761	)	(760,646	)	(551,548	)	(551,042	)	(541,153	)	(431,155	)
Core deposit and other intangible assets		(59,521	)	(23,957	)	(14,674	)	(15,724	)	(11,296	)	(9,367	)
Net average tangible assets	$	19,351,177		12,550,756		10,855,432		10,470,789		10,331,098		8,865,419
Return on average assets		1.21	%	1.30	%	1.41	%	1.30	%	1.18	%	1.33	%
Adjustment due to goodwill, core deposit and other intangible assets		0.11	%	0.08	%	0.06	%	0.08	%	0.08	%	0.06	%
Return on average tangible assets		1.32	%	1.38	%	1.47	%	1.38	%	1.26	%	1.39	%
Adjustment due to merger-related charges		0.11	%	0.06	%	0.01	%	0.08	%	0.13	%	0.03	%
Return on average tangible assets (excluding merger-related charges)		1.43	%	1.44	%	1.48	%	1.46	%	1.39	%	1.42	%
Average tangible equity:
Average stockholders' equity	$	3,655,029		2,057,505		1,657,072		1,493,684		1,442,440		1,247,762
Less:   Average goodwill		(1,800,761	)	(760,646	)	(551,548	)	(551,042	)	(541,153	)	(431,155	)
Core deposit and other intangible assets		(59,521	)	(23,957	)	(14,674	)	(15,724	)	(11,296	)	(9,367	)
Net average tangible common equity	$	1,794,747		1,272,902		1,090,850		926,918		889,991		807,240
Return on average common equity		6.99	%	8.40	%	9.70	%	9.61	%	8.93	%	9.92	%
Adjustment due to goodwill, core deposit and other intangible assets		7.26	%	5.18	%	5.04	%	5.88	%	5.54	%	5.42	%
Return on average tangible common equity (1)		14.25	%	13.58	%	14.74	%	15.49	%	14.47	%	15.34	%
Adjustment due to merger-related charges		1.18	%	0.61	%	0.15	%	0.85	%	1.54	%	0.30	%
Return on average tangible common equity (excluding merger-related charges)		15.43	%	14.19	%	14.89	%	16.34	%	16.01	%	15.64	%
Total average assets	$	21,211,459		13,335,359		11,421,654		11,037,555		10,883,547		9,305,941
Net interest margin		3.87	%	3.68	%	3.60	%	3.72	%	3.60	%	3.72	%
Adjustment due to accretion from fair value accounting		(0.45	%)	(0.23	%)	(0.21	%)	(0.32	%)	(0.21	%)	(0.22	%)
Core net interest margin		3.42	%	3.45	%	3.39	%	3.40	%	3.39	%	3.50	%
This information is preliminary and based on company data available at the time of the presentation.

15

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES

SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED

1. Ratios are presented on an annualized basis.

2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets.

3. Total revenue is equal to the sum of net interest income and noninterest income.

4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income.

5. Troubled debt prepayments include loans where the company, as a result of the borrower's financial difficulties, has granted a credit concession to the borrower (i.e., interest only payments for a significant period of time, extending the maturity of the loan, etc.).  All of these loans continue to accrue interest at the contractual rate.

6. Average risk ratings are based on an internal loan review system which assigns a numeric value of 1 to 10 to all loans to commercial entities based on their underlying risk characteristics as of the end of each quarter. A "1" risk rating is assigned to credits that exhibit Excellent risk characteristics, "2" exhibit Very Good risk characteristics, "3" Good, "4" Satisfactory, "5" Acceptable or Average, "6" Watch List, "7" Criticized, "8" Classified or Substandard, "9" Doubtful and "10" Loss (which are charged-off immediately).  Additionally, loans rated "8" or worse that are not nonperforming or restructured loans are considered potential problem loans.  Generally, consumer loans are not subjected to internal risk ratings. Data presented represents legacy Pinnacle portfolio at period end date.

7. Annualized net loan charge-offs to average loans ratios are computed by annualizing quarter-to-date net loan charge-offs and dividing the result by average loans for the quarter-to-date period.

8. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows:

Equity to total assets – End of period total stockholders' equity as a percentage of end of period assets.

Tangible common equity to total assets - End of period total stockholders' equity less end of period goodwill, core deposit and other intangibles as a percentage of end of period assets.

Leverage – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets.

Tier one risk-based – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets.

Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets.

Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for loan losses.

Tier one common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered as a component of Tier 1 capital as a percentage of total risk-weighted assets.

9. Book value per share computed by dividing total stockholders' equity by common shares outstanding.

10. Amounts are included in the statement of operations in "Gains on mortgage loans sold, net", net of commissions paid on such amounts.

11. At fair value, based on information obtained from Pinnacle's third party broker/dealer for non-FDIC insured financial products and services.

12. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities.

13. Associate retention rate is computed by dividing the number of associates employed at quarter end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter end. Associate retention rate does not include associates at acquired institutions displaced by merger.

14. Employment and unemployment data is from the Federal Reserve Bank of St. Louis' FRED Economic Data reporting. All data has been seasonally adjusted. The most recent quarter data presented is as of the most recent month that data is available as of the release date. Historical data is subject to update by the Federal Reserve Bank of St. Louis. Historical data is presented based on the most recently reported data available by the Federal Reserve Bank of St. Louis. Area home data is from www.zillow.com and represents median list price for single family homes.

15.  Adjusted pre-tax, pre-provision income excludes the impact of investment gains and losses on sales and impairments of securities, net, as well as other real estate owned expenses and merger-related charges.

16. Represents investment gains (losses) on sales and impairments, net occurring as a result of both credit losses and losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis.

17. The dividend payout ratio is calculated as the sum of the annualized dividend rate divided by the trailing 12-months fully diluted earnings per share as of the dividend declaration date.

18. Earnings from equity method investment includes the impact of the issuance of subordinated debt as well as the funding costs of the overall franchise. Income tax expense is calculated using statutory tax rates.

19. Tax effect calculated using the blended statutory rate of 39.23% for all periods presented.

20. Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report.

16