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US: Pinnacle competes purchase of CapitalMark Bank

By  |  August 3, 2015

Pinnacle Financial Partners, Inc. today announced that it has completed its previously announced acquisition of CapitalMark Bank & Trust in Chattanooga.

Pinnacle will paid about $200 million in cash and stock to buy CapitalMark, one of the fastest growing and biggest home grown banks in Chattanooga. Based on financial information as of June 30, 2015, on a pro forma basis, the combined company has total assets of $7.6 billion with 37 offices in 12 Tennessee counties.

“We look forward to our continued participation in the high growth that Chattanooga is enjoying,” Pinnacle CEO M. Terry Turner said in a statement today.

Full content: Memphis Business Journal

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