Nashville bank to acquire CapitalMark for $187 million

Craig Holley, Chairman, President, and CEO of CapitalMark Bank & Trust
photo Craig Holley, Chairman, President, and CEO of CapitalMark Bank & Trust

One of Nashville's biggest banks plans to acquire CapitalMark Bank & Trust in Chattanooga for $187 million in cash and stock.

Pinnacle Financial Partners, Inc., a 15-year-old bank holding company with assets of nearly $6 billion in Nashville, announced today it will buy CapitalMark, subject to approval regulatory and shareholder approval.

At the time of closing, the combined banks are projected to have total assets of more than $7 billion, with Pinnacle operating 37 offices in 12 counties, including three high-growth counties new to the Pinnacle footprint.

CapitalMark, which was founded in 2007 and has grown to $968 million in assets, operates just four offices and has been one of the highest-performing and fastest growing banks in the region.

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