Pinnacle Financial Partners Expands Presence in Richmond
Pinnacle Financial Partners, a bank from Tennessee, is stepping into the Richmond market with a notable new location. They recently secured nearly 12,000 square feet at 3403 W. Moore St., planning to convert the former warehouse into retail branches and offices.
This new space, anticipated to open next year, marks the bank’s first significant presence in the area after a quieter entry in which they employed just two financial advisors. Earlier this year, the effort to grow local operations gained momentum with the recruitment of a team of bankers and financial advisors.
Leading this local initiative is Chris Daniels, who transitioned from Wells Fargo after 16 years. He is joined by Suzanne Gardner, David Marino, Wes Baskerville, and advisor assistant Crystal Hedrick. They will work alongside the bank’s first advisors, Frank Mead and Wendy Inge.
Pinnacle, a $54 billion entity based in Nashville, appears to have ambitious goals for Richmond. The CEO hinted at plans for reaching $1 billion in assets in Central Virginia within five years during the second-quarter revenue call, where Daniels’s team was introduced.
Daniels, in a chat with BizSense, shared that the new location can accommodate up to 38 employees. Gardner expressed the need for “good, experienced bankers,” indicating a proactive approach to recruitment.
Founded in 2000, Pinnacle has grown since merging with BNC Bank in 2017 to expand into parts of Virginia and Carolina. Marino was instrumental in scouting locations around Richmond and explored various neighborhoods, including Willow Lawn, before selecting a site near popular establishments like Tazza Kitchen and Starr Hill Brewery.
Marino noted, “I wanted something a little different that wasn’t entirely traditional,” seeking a modern feel for their space. Local commercial real estate representatives from Thalhimer Realty Partners facilitated the leasing process, with additional space still available for lease in the complex.
As they work through design and planning with local construction firm Baskervill, Pinnacle is currently operating from a temporary location near Libby Mill until the new site is ready.
Since making its footprint in Virginia, Pinnacle has opened a new office in Roanoke and expanded to Lynchburg and Northern Virginia, growing its workforce to 159 employees as of March 31. Banks across these areas cumulatively handle substantial deposits and loans.
Moreover, Pinnacle is not stopping its expansion plans there, as they recently announced a merger with Synovus, a bank from Georgia, which will create a new entity worth $115 billion with over 400 branches across nine southeastern states by early 2026. In this arrangement, Synovus’s CEO will take the role of President and CEO, while Pinnacle’s CEO will serve as the chairman.
