Pinnacle Financial Partners in Nashville, Tenn., will enter Huntsville, Ala., after hiring nine former bankers from BBVA USA.
The $35 billion-asset Pinnacle said in a press release Monday that it brought on four financial advisers, a credit adviser, an office leader and three support and processing associates. The group is led by Jason Baldwin, a former market CEO for North Alabama at BBVA.
Baldwin will serve as Pinnacle’s Huntsville regional president.
Baldwin “is one of the top banking leaders in the state, and Pinnacle has assembled a group that can support nearly everything clients need right out of the gate,” Terry Turner, Pinnacle’s president and CEO, said in the release.
“Pinnacle’s client service focus and recruiting strength allowed us to attract a complete team in Huntsville, which is among the fastest growing MSAs in the Southeast,” Turner added. “This is the perfect way to set up shop quickly and capitalize on the opportunities to take market share in a growing city dominated by large, impersonal banks.”
BBVA, which was sold earlier this month to PNC Financial Services Group in Pittsburgh, is the second-biggest bank in Huntsville, with 11.8% of the market’s deposits, according to June 2020 data from the Federal Deposit Insurance Corp.