Pinnacle Financial Partners delivered a resilient QQ1 2025 performance in a period of heightened rate volatility and uncertain macro conditions. Total revenue of $766.6 million rose modestly year over year (YoY) and demonstrated sequential strength driven by rapid deposit growth and a continued lift in net interest income (NII). End-of-period loans grew 7.3% linked quarter annualized, supported by Pinnacle’s “hedgehog” strategy—aggressively recruiting seasoned relationship managers (RMs) and consolidating their client books onto the Pinnacle platform. Deposit growth remained a standout, with a $1.6 billion increase in QQ1 2025, following a $1.9 billion increase in the prior quarter, underpinning a funded balance sheet and margin resilience amid a shifting rate backdrop. Management reaffirmed 2025 guidance for mid-to-high single-digit loan growth (8%–11%), 7%–10% deposit growth, and an NIM that remains flat with a modest upward bias. BHG (Banking and Healthcare Group) contributed more than $20 million in fee revenues in Q1, with ABS securitization activity signaling continued liquidity and demand for Pinnacle’s capital-light franchise. Management raised 2025 earnings guidance for BHG (from 10% to 20% growth over 2024) on stronger credit performance and higher production leads. The quarter highlights the bank’s ability to sustain growth through talent acquisition, diversified fee lines, and disciplined credit management, even as external catalysts (tariffs, rate cuts, and CRE exposure) loom over the macro backdrop.