Steven Scoutin

Steven Scoutin from Piper Sandler asked for confirmation that Slide 9, illustrating market share vulnerability of competitors and Pinnacle's growth in expansion markets, represents the core opportunity for the company. He also inquired about any incremental risks or concerns regarding the merger's progress and sought clarification on the historical consistency of Pinnacle Financial Partners' employee retention rates.

Answer

President and CEO Terry Turner affirmed that Slide 9 accurately depicts the significant market share takeaway opportunity in the high-growth Southeast, driven by competitors' vulnerability and Pinnacle's superior Net Promoter Score. He stated there are no broad risks discovered regarding the balance sheet or competitive/regulatory environment, expressing increased conviction in the merger's outcomes despite the hard work involved. Terry Turner also confirmed that associate retention rates have consistently ranged from 93%-96% over the past decade, with the last 12 months and Q3 2025 at 93%.

Steven Scoutin inquired about the significance of market share takeaway opportunities in expansion markets, as depicted on slide 9, as a core driver for Pinnacle's growth and competitive advantage post-merger. He also asked about any incremental risks or concerns identified during the merger integration process, and the historical consistency of the employee retention rate.

Answer

CEO Terry Turner affirmed that seizing market share vulnerability in high-growth Southeast markets is central to the company's revenue engine, expressing strong conviction in the combined entity's competitive position with high Net Promoter Scores. He reported no broad risks discovered during integration, only hard work, and confirmed the associate retention rate has consistently operated in the 93-96% range over the past decade, including 93% for the last 12 months and Q3.