PINNACLE ANNOUNCES THE COMPLETION OF ITS MERGER WITH CAPITALMARK BANK & TRUST
Nashville, TN, August 3, 2015 – Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) (“Pinnacle”) today announced that on July 31, 2015, it completed its previously announced merger with CapitalMark Bank & Trust (“CapitalMark”).
CAPITALMARK BANK & TRUST SHAREHOLDERS APPROVE COMBINATION WITH PINNACLE BANK
Nashville and CHATTANOOGA, TN, July 23, 2015 – Shareholders of CapitalMark Bank & Trust (“CapitalMark”) today voted overwhelmingly in favor of the proposed merger of CapitalMark with Pinnacle Bank, a wholly owned subsidiary of Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) (“Pinnacle”).
Pinnacle Financial Partners AND CAPITALMARK BANK & TRUST Extend TIME FOR Shareholders TO ELECT FORM OF CONSIDERATION
Nashville and CHATTANOOGA, TN, July 16, 2015 – Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) (“Pinnacle”) and CapitalMark Bank & Trust (“CapitalMark”) announced today that they have agreed to extend the date by which CapitalMark’s shareholders must make their election to receive shares of Pinnacle’s common stock, cash or a mix of cash and stock in the proposed merger of CapitalMark and Pinnacle Bank to 5 p.m. Eastern Daylight Time on Thursday, July 23, 2015. The extension is for the convenience of CapitalMark’s shareholders.
CapitalMark posts $2.7 million record quarterly profit; surpasses $1 billion total assets
Chattanooga, Tennessee – July 16, 2015 – CapitalMark Bank & Trust today reported earnings of $2.7 million for the quarter ended June 30, 2015. Net income for the six months ended June 30, 2015, was $5.0 million, an increase of 51% from the same six months in 2014. Net income per fully diluted common share increased 54% from the same six month period in 2014 to $0.63.
Trust Veteran Sandy Chambers Joins CapitalMark
Chattanooga, Tennessee – June 8, 2015 – CapitalMark Bank & Trust announces the addition of Sandy Chambers as executive vice president and director of wealth and trust services. She will join CapitalMark’s Phil Barnes in delivering comprehensive wealth management and trust administration services to help clients build and maintain wealth for generations.
Beware of Phishing Scams Related to CapitalMark's Proposed Merger with Pinnacle Financial Partners
On April 7th, CapitalMark announced its intent to merge with Nashville-based Pinnacle Financial Partners. Bank mergers can create an opportunity for fraudsters to target bank clients by purporting to represent either institution and collecting sensitive account information or access to online accounts.
PINNACLE FINANCIAL PARTNERS ANNOUNCES AGREEMENT TO ACQUIRE CAPITALMARK BANK & TRUST
Pinnacle expands to high-growth Chattanooga market
Accretive to firm’s operating earnings in first year
Webcast to begin at 9:00 a.m. CDT
April 8, 2015
Presentation and streaming audio: http://www.pnfp.com
Audio only: 1-877-602-7944
NASHVILLE and CHATTANOOGA, Tenn., April 7, 2015 – Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) (“Pinnacle”) and CapitalMark Bank & Trust (“CapitalMark”) jointly announced today the signing of a definitive agreement for Pinnacle to acquire CapitalMark via merger. The proposed merger of CapitalMark with and into Pinnacle has been approved by each company’s Board of Directors and is expected to close late in the third quarter or early in the fourth quarter of 2015. Completion of the transaction is subject to satisfaction of customary closing conditions, including the receipt of required regulatory approvals and the approval of CapitalMark’s shareholders.
CapitalMark / Pinnacle Merger Client Q&A
On April 7, CapitalMark announced our intent to merge with Nashville-based Pinnacle Financial Partners. You can read the full news release here.
At this point there is very little impact to you. However, after regulatory approval and much planning for the conversion, we anticipate completing our change to Pinnacle Financial Partners in April 2016. In the coming months, we will communicate with you in greater detail about the conversion of your accounts to Pinnacle.
CapitalMark Loans Grow $48 Million in the First Quarter; Net Income Up 37%
Chattanooga, Tennessee – April 6, 2015 – CapitalMark Bank & Trust today reported earnings for the quarter ended March 31, 2015. Net income for the quarter ending March 2015 was $2.3 million, an increase of 37% from the same quarter in 2014. Net income per fully diluted common share increased 38% from first quarter 2014 to $0.29.
“CapitalMark had a strong first quarter in 2015, fueled by loan and non-interest bearing deposit growth. Loans grew 24% year-over-year while non-interest bearing deposits grew 31% over the same period. With $968 million in total assets, we continue to build core earnings capacity and an operating profile that positions CapitalMark well for the future,” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.
CapitalMark Earnings Jump 27%
Chattanooga, Tennessee – January 29, 2015 – CapitalMark Bank & Trust today reported earnings for the year ended December 31, 2014. Net income for the year ended 2014 was $7.4 million, an increase of 27% from year end 2013. Net income per fully diluted common share increased 28% from year ending 2013 to $0.92.
CapitalMark Ranks 16th in Nation in Small Business Lending Fund Growth
Chattanooga, Tennessee – January 9, 2015 – CapitalMark Bank & Trust ranks No. 16 in the nation for highest growth in qualified small business lending out of a field of 281 SBLF (Small Business Lending Fund) bank participants. The SBLF program is a component of the Small Business Jobs Act established in 2010 to encourage banks with assets under $10 billion to increase lending to small businesses. Only 41% of banks that applied to participate in the program were selected based on asset size and positive indicators of strength, stability and performance.