Apr. 15 at 11:13 AM
$PNFP
The parent company of Pinnacle Bank reported adjusted earnings of
$1.90 per share for the three months ended March 31, while Wall Street expected it to post earnings of
$1.80 per share.
Its net income rose to
$1.77 per share for the first quarter, compared with
$1.57 per share a year earlier.
The company’s net interest income rose to
$364.4 million, compared with
$318 million in the year-ago quarter.
Its noninterest-bearing deposits grew by
$336.9 million during the quarter, which implies an annualized growth rate of 16.5%.
Its interest earnings assets rose 11% year-over-year during the first quarter, and its net interest margin was 3.21%, compared to 3.04% a year earlier.
