Pinnacle Bank expands into Jacksonville (Courtesy of the Jacksonville Business Journal) — Nashville’s Pinnacle Financial Partners (headquarters pictured above) has expanded its footprint into the Sunshine State.
The bank recently announced it had entered the North Florida region with the addition of five industry veterans who will help build the bank’s presence in Jacksonville. The team are working to secure an office space in downtown Jacksonville that will serve for both a full-service retail office and banker, support and administrative offices, with plans to open later this year.
“This is a dream team of financial professionals with deep local roots who will build Pinnacle as a new bank offering something brand new to the market,” Terry Turner, Pinnacle’s president, CEO and co-founder said in a press release. “Our model of an unbeatable workplace culture and unmatched client service has proven successful across the Southeast. That’s the kind of bank Jacksonville and North Florida deserve. The area is very similar in makeup and growth to many of the other communities we serve, and it’s dominated by the same megabanks who are vulnerable to a challenger brand like ours. It’s a perfect recipe for what we do best.”
The push into northern Florida is the largest market expansion for Pinnacle after successfully building its presence in Atlanta, Washington, D.C., Huntsville and Birmingham. Those markets have brought the firm over $2.2 billion in deposits and $2.5 billion in loans collectively.
Pinnacle’s North Florida team will be:
- Regional president Scott Keith, who has more than 34 years of experience in the financial services industry, most recently as the regional president of North Florida for Truist Bank.
- Debbie Buckland, a former market president for Truist, with 27 years of experience in the industry.
- Bryan Taylor, who has spent 21 years with Truist, serving market across the southeast.
- Vaughn Winmond, who has 15 years of experience in the financial industry, most recently at Truist.
- Fatima Bowen, who also has 15 years of experience, most of which was spent at Truist Bank.
“We expect similar success [in Florida] as we continue to seize a once-in-a-generation opportunity to build a new kind of regional community bank throughout the Southeast,” Turner said in the release. “The chance to bring one of America’s best banks to the nation’s second-fastest-growing state is almost unprecedented. The North Florida region is incredibly deposit-rich, with nearly $100 billion available according to the latest FDIC data. We intend to repeat our successful model of hiring the best bankers, bringing over their clients and taking significant market share from the much bigger institutions that can’t match our level of personalized service. We’re here to win.”
Pinnacle hit the ground running in 2024. The bank earlier this month opened a temporary office in Maryland, its first in the state, with plans to open a full-service branch later this year.
Pinnacle Financial Partners is Nashville’s largest bank, according to Business Journal research, with $19.5 billion in local deposits.
Pinnacle Headquarters photo courtesy of Avant Architects