Pinnacle CEO: Main concern from clients is inability to pass increased input prices to consumers

• Clients remain constructive on the U.S. economy, with 80% expecting their businesses to grow or stay the same in the next 12 months, despite inflation being the top concern.
• Pinnacle Financial Partners reported 10% loan growth, 8% deposit growth, and 24% fee income growth year-over-year in Q1, reaffirming guidance for top-quartile performance.
• The merger integration with Synovus is progressing 'extremely well,' evidenced by high team member engagement (12th best place to work by Fortune) and strong client satisfaction (number one bank in the Southeast).
• Private credit exposure is low (less than 2% of total loans, with less than 1% in specific 'semi-liquid' structures like BDCs and interval funds), and these loans are well-structured with no credit losses or non-performing loans in seven years.

Pinnacle Financial Partners CEO Kevin Blair discusses a constructive economic environment, strong Q1 earnings with significant loan and deposit growth, and successful integration post-merger with Synovus. He highlights client confidence, effective management of inflation concerns, and low exposure to private credit risks, emphasizing the company's 'scaling with a soul' growth strategy.