BNC Bank changed its name and identity to Pinnacle Financial Partners today in a sign unveiling at its McBee Avenue office.
The two firms announced their intent to merge just eight months ago, with the deal officially closing on June 16, 2017. The partnership brings Pinnacle’s model of urban community banking to South Carolina, North Carolina, and Virginia – its first foray outside of Tennessee.
The company released this information regarding the name change:
“The Pinnacle brand may not yet be well known in our new markets, but we are excited to change that by proving ourselves with clients and in the community,” said Terry Turner, Pinnacle’s president and CEO. “Our ultimate value is in the people who serve our clients, and they aren’t changing. The only difference is that now they’ll have more resources and capabilities than ever before. We all owe a debt of gratitude to the people from both firms who worked tirelessly to make this merger a success.”
Throughout the merger and integration process, leadership from both Pinnacle and BNC Bank have repeatedly stressed the importance of consistent leadership and local decision making. Nearly all of BNC Bank’s leadership have stayed with the company in the same or similar roles that they held prior to the merger.
“I’ve been in Greenville since I graduated from Furman in 1993, so I am very proud to continue the tradition of local banking in the Upstate,” said Ed Stein, Pinnacle’s market leader in the Upstate. “We are fortunate to have a deep bench of financial advisors who have built their careers here. Pinnacle understands what it takes to serve your neighbors and friends in a community bank, and we are committed to delivering distinctive service and effective advice right here at home.”
Community and business leaders joined Pinnacle associates and leadership at the McBee Avenue office this morning to unveil the new sign out front and celebrate the bank’s new look.
BNC Bank operated under its brand after the merger closed but will now operate as Pinnacle. Systems and operations conversions will continue through 2017 and likely into the first quarter of 2018.
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 earned a place on Fortune’s 2017 list of the 100 Best Companies to Work For in the U.S., and American Banker recognized Pinnacle as the sixth-best bank to work for in 2017.
Pinnacle entered the South Carolina market in 2017 when it acquired BNC Bancorp. Pinnacle continues BNC’s practice of offering community bank service with the resources and sophistication of a larger firm.
The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $20.9 billion in assets as of June 30, 2017. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia.
Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com.