Pinnacle Financial Partners Inc (PNFP) Q2 2020 Earnings Call TranscriptJuly 22, 2020
Pinnacle Financial Partners Inc (NASDAQ:PNFP)
Q2 2020 Earnings Call
Jul 22, 2020, 9:30 a.m. ET
- Prepared Remarks
- Questions and Answers
- Call Participants
Good morning, everyone, and welcome to the Pinnacle Financial Partners Second Quarter 2020 Earnings Conference Call. Hosting the call today from Pinnacle Financial Partners is Mr. Terry Turner, Chief Executive Officer; and Mr. Harold Carpenter, Chief Financial Officer. Please note, Pinnacle’s earnings release and this morning’s presentation are available on the Investor Relations page of their website at www.pnfp.com. Today’s call is being recorded and will be available for replay on Pinnacle’s website for the next 90 days.
During this presentation, we may make comments which may constitute forward-looking statements. All forward-looking statements are subject to risks, uncertainties and other facts that may cause the actual results, performance or achievements of Pinnacle Financial to differ materially from any results expressed or implied by such forward-looking statements. Many of such factors are beyond Pinnacle Financial’s ability to control or predict, and listeners are cautioned not to put undue reliance on such forward-looking statements. A more detailed description of these and other risks is contained in Pinnacle Financial’s annual report on Form 10-K for the year ended December 31, 2019 and its quarterly report on Form 10-Q for the quarter ended March 31, 2020. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise.
In addition, these remarks may include certain non-GAAP financial measures as defined by SEC Regulation G. A presentation of the most directly comparable GAAP financial measures and a reconciliation of the non-GAAP measures to the comparable GAAP measures will be available on Pinnacle Financial’s website at www.pnfp.com.
With that, I am now going to turn the presentation over to Mr. Terry Turner, Pinnacle’s President and CEO.
M. Terry Turner — President and Chief Executive Officer, Director
Thank you, Jimmy. At the conclusion of our Q1 conference call, I tried to provide some guidance for what our focus would be going forward. I indicated that we’d continue to manage those things that produce long-term shareholder value but would remain in a more defensive posture until we could see more clearly the depth and duration of the pandemic and its impacts. Specifically, I indicated that we had increased liquidity in Q1 and we’d continue to do so in Q2, which we did. Harold will review in detail the substantial liquidity build from both wholesale and client funding, all…