Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) Q1 2023 Earnings Conference Call April 18, 2023 9:30 AM ET

Company Participants

Terry Turner – Chief Executive Officer

Harold Carpenter – Chief Financial Officer

Conference Call Participants

Steven Alexopoulos – JPMorgan

Jared Shaw – Wells Fargo Securities

Catherine Mealor – KBW

Casey Haire – Jefferies

Brandon King – Truist Securities

Michael Rose – Raymond James

Stephen Scouten – Piper Sandler

Brett Rabatin – Hovde Group

Brody Preston – UBS

Brian Martin – Janney

Operator

Good morning, everyone, and welcome to the Pinnacle Financial Partners' First Quarter 2023 Earnings Conference Call. Hosting the call today from Pinnacle Financial Partners is Mr. Terry Turner, Chief Executive Officer; and Mr. Harold Carpenter, Chief Financial Officer. Please note, Pinnacle earnings release and this morning's presentation are available on the Investor Relations page of their website at www.pnfp.com. Today's call is being recorded and will be available for replay on Pinnacle Financial's website for the next 90 days.

At this time all participants have been placed on a listen-only mode. The floor will be opened for your questions following the presentation. [Operator Instructions] During this presentation, we may make comments which may constitute forward-looking statements. All forward-looking statements are subject to risks, uncertainties and other facts that may cause the actual results, performance or achievements of Pinnacle Financial to differ materially from any results expressed or implied by such forward-looking statements. Many of such factors are beyond Pinnacle Financial's ability to control or predict, and listeners are cautioned not to put undue reliance on such forward-looking statements. A more detailed description of these and other risks is contained in Pinnacle Financial's annual report on Form 10-K for the year ended December 31, 2022, and its subsequently filed quarterly reports.

Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise. In addition, these remarks may include certain non-GAAP financial measures as defined by SEC Regulation G. A presentation of the most directly comparable GAAP financial measures and a reconciliation of the non-GAAP measures to comparable GAAP measures will be available on Pinnacle Financial's website at www.pnfp.com.

With that, I'm now going to turn the presentation over to Mr. Terry Turner, Pinnacle's President and CEO.

Terry Turner

Thank you, operator. Good morning. As you've seen, first quarter was a very strong quarter for PNFP with outsized loan and deposit growth, even in a difficult economic environment, which I believe is linked to our client-centric approach to the market. Much has been written and spoken, I suppose, within the last month or so about whether regional banks like ours could withstand the inevitable movement of deposits up to the money center banks. So I believe we have now answered that question. We have begun every call for years with this snapshot of our quarterly performance.