Pinnacle Financial Partners, Inc. has recently released its 10-K report, providing a comprehensive overview of its operations and financial performance. The company operates as a bank holding company for Pinnacle Bank, offering a wide range of banking products and services to individuals, businesses, and professional entities in the United States. Pinnacle Financial accepts various deposits, provides treasury management services, offers various types of loans, investment products, and insurance agency services, among others. The company also focuses on risk management, identifying major categories of risk including capital risk, liquidity risk, credit risk, market risk, and others, and has implemented a modified risk management framework to enhance overall risk oversight.
In its 10-K report, Pinnacle Financial discusses its risk management practices, emphasizing the importance of understanding and managing risks appropriately to achieve an appropriate balance between risk and reward. The company's board of directors and senior management have identified major categories of risk, and a Chief Risk Officer leads the enterprise risk management framework. Pinnacle Financial has implemented a modified management-level Risk Management Committee to enhance overall risk oversight and foster more granular risk assessment analysis and discussions. The Risk Management Committee includes the leadership of the company’s Risk Management group as well as members of the Enterprise-Wide Risk Management team. The company's Risk Committee, in collaboration with the Risk Management Committee, approves its risk appetite on an annual basis, or more frequently as needed, to ensure that its risk appetite remains consistent with its strategic plans and business operations, regulatory environment, and shareholders' expectations.
Pinnacle Financial's board of directors, through the Risk Committee, has approved a risk appetite statement from management that seeks to balance the amount of risk the company is willing to take as it seeks to achieve its financial performance objectives, such as growth, soundness, and returns. The Risk Committee and senior management regularly monitor a host of risk metrics from both business and operational units, as well as by risk category, to appropriately balance the manner in which performance aligns with the company's risk appetite. The board of directors believes that the enterprise-wide risk management process is effective and enables them to assess the quality of the information received, understand the businesses, investments, and financial, accounting, legal, regulatory, and strategic considerations and risks faced, oversee and assess how senior management identifies, evaluates, and manages risk within the risk appetite, and assess the quality of the enterprise-wide risk management process. Today the company's shares have moved 0.4% to a price of $113.46. If you want to know more, read the company's complete 10-K report here.
