Engaged Clients

Every bank says they give great service. It's a noble statement but ultimately a hollow one if you can't back it up with evidence. We rely on data from our clients and independent third parties to gauge our progress on becoming the best financial services firm in the Southeast, and we're intentional about measuring client satisfaction.

One of the central reasons we set out to build a bank 23 years ago was to offer a recognizably better client experience.

Here's the evidence from 2022 that shows we're hitting that mark.

We hired, excited and retained top talent in our markets.

As covered in Excited Associates, we had a record year for hiring, associates gave us high marks for their work environment, and our retention rate ensured clients would receive a consistent experience.

When new associates come to work for a firm that despises bureaucracy and is universally focused on "wowing" clients, we believe they produce literally the best banking experience in the market. That is how we've achieved such incredible organic growth throughout our firm.

• Legacy market growth represents the hard work of associates who have been with the firm for at least two and a half years and are winning business based on our brand promise of service and advice.
• The recruiting impact comes from associates also in our legacy markets who have been here less than two and a half years and are working to bring their books of business to Pinnacle.
• Strategic expansions represent new markets and specialty offerings like solar, equipment and franchise finance.

The Pinnacle model has worked wherever we have taken it, including in some of the biggest and hottest markets in the country. In Washington, D.C., this client methodically did his research and determined Pinnacle is where he needed to be. What were the deciding factors? Take a look.

Our clients told us we're the best—and told everyone they know, too.

Third-party research is the ultimate tool for assessing one's performance. Coalition Greenwich continues to gather data from our clients and across the broader banking market, and their data confirm what we already know: that Pinnacle is the best place to do business in the Southeast.

Companies with $1-10MM in Revenue

80%*

Overall
Satisfaction

84%*

Ease of Doing
Business

86%

Bank You
Can Trust

81%

Values Long-term
Relationships

74%*

Net Promoter
Score

77%*

Data and Analytics-driven Insights

78%*

Overall Digital
Experience

Companies with $10-500MM in Revenue

85%*

Overall
Satisfaction

93%*

Ease of Doing
Business

98%*

Bank You
Can Trust

98%*

Values Long-term
Relationships

81%*

Net Promoter
Score

65%*

Data and Analytics-driven Insights

89%*

Overall Digital
Experience

*Leading in our footprint

How that translates into asset growth is a story in two parts.

1. Our clients are our best advocates, and they are raving fans of Pinnacle. They actively promote us at levels that overpower endorsements of our competitors.

2. Given our size relative to competitors in most markets, the runway for market share takeaway is long. And given the gaps in service satisfaction, we believe Pinnacle is perfectly positioned to go the distance.

Net Promoter Scores — Clients Willingness to Recommend

Note: Cross-hairs are set at the mean for lead penetration (Y-axis) and NPS (X-axis). Net Promoter Score equals Promoters minus Detractors. Evaluations are based on a 0-10 scale, "0" not at all likely to "10" extremely likely. Promoter = 9,10; Passive = 7,8; Detractor = 0-6.

Question: How likely are you to recommend (Lead Provider) to a friend or colleague using a scale of 0-10 where "0" means Not At All Likely and "10" means Extremely Likely? Which bank or financial service provider do you consider your company's single most important or lead provider of banking services?

Source: 2022 Coalition Greenwich Associates Market Tracking Program (Pinnacle Financial - Footprint - $1-10MM & $10-500MM - Q 2022 R4Q - Banking).

Pinnacle dominated in the metrics most highly correlated with client loyalty.

Coalition Greenwich has long isolated the three pillars of client loyalty, and recently they've added a fourth:

• Values Long-term Relationships
• Ease of Doing Business
• Bank You Can Trust
• Data and Analytics-driven Insights

In our markets, no one can touch Pinnacle's performance on these metrics.

At the heart of those numbers are a client's relationship with their financial advisor, the locally based quarterback who is a trusted advisor, guiding the client down a path designed to improve and grow their finances.

Client loyalty and need gives us confidence in 2023.

We recognize that, to many, associate engagement and client service have little to no bearing on earnings and shareholder value. Some may even see them as expenses to be managed in tightening times.

On the contrary, we believe it's more important than ever to continue and grow our model, for the good of our associates, clients and shareholders.

At a time when competition for deposits is high and businesses have a broad spectrum of needs, it's critical that we continue to differentiate ourselves from the pack to attract and retain some of the best and highest value clients in our markets.

We believe, based again on Coalition Greenwich research, that very few of our clients would consider leaving us, and a great many intend to add us as a partner for their next banking need.

The model works, and we intend to continue working it.