Pinnacle Financial Partners Inc. (PNFP) Monday reported first-quarter profit of $13.45 million, up from $8.36 million in the comparable quarter last year.
Net income available to common stockholders increased to $13.45 million or $0.39 per share from $7.21 million or $0.21 per share last year.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Net-interest income improved to $42.76 million from $39.50 million last year.Non-interest income totaled $11.90 million, up from $9.95 million last year.
Provision for loan losses increased to $2.17 million from $1.03 million last year.
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