Pinnacle Grows Local Deposits in Raleigh-Cary MSA

Pinnacle Financial Partners' growth in the Raleigh area continues as the firm added $235.77 million in local deposits during the 12 months ended June 30, 2025, for a total of $928.33 million, according to data from the FDIC. When added to the Durham-Chapel Hill MSA, which is measured separately by the FDIC, Pinnacle held more than $1.2 billion in deposits in the Triangle.

"This is one of the most competitive banking markets in the country and we are deeply grateful to our clients for their trust," said Mark Carlton, Pinnacle's regional president. "The Triangle continues to see tremendous growth, and Pinnacle is committed to helping fuel it. What sets us apart is our team of local bankers offering personal service backed by the capabilities of a larger firm. That combination is proving powerful and has given us a great deal of momentum."

Between June 30, 2024, and June 30, 2025, Pinnacle grew its Raleigh-Cary MSA deposit base by 34.04 percent, and by 19 percent across the Triangle as a whole. That places the firm at No. 13 in the Raleigh-Cary MSA and No.10 in the Durham-Chapel Hill MSA in the combined area. Statewide in North Carolina, Pinnacle is the 11th largest bank in terms of deposits, with $6.94 billion at June 30, 2025.

Across its footprint, Pinnacle grew deposits in 23 out of 27 MSAs in which it operates, including eight with double-digit growth and three with triple-digit growth. The firm grew share in 22 of those markets and was one of five leading growth performers in 15 of those markets.

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 is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2025 deposit data from the FDIC. Pinnacle is No. 9 on FORTUNE magazine's 2025 list of 100 Best Companies to Work For® in the U.S., its ninth consecutive appearance and was recognized by American Banker as one of America's Best Banks to Work For 12 years in a row and No. 1 among banks with more than $10 billion in assets in 2024.

Pinnacle entered the North Carolina market in 2017 when it acquired BNC Bancorp, offering community bank service with the resources and sophistication of a larger firm. Pinnacle is ranked as the No. 1 workplace in the Triad, Triangle and Charlotte markets, as listed by the Triad Business Journal, Triangle Business Journal and Charlotte Observer.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $54.8 billion in assets as of June 30, 2025. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast.

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