Nashville, Tenn.-based Pinnacle Financial Partners Inc. reported net income of $110.5 million, or $1.44 per share, for the quarter ended Sept. 30, compared with $93.7 million, or $1.21 per share, for the same period the previous year.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the third quarter was $1.35.
The company's net interest income for the quarter ended Sept. 30 was $195.8 million, compared with $189.4 million for the same period in 2018. Revenues for the quarter ended Sept. 30 were $278.4 million, compared with $240.9 million for the third quarter of 2018.
The company's total loans at the end of the quarter were $19.35 billion, compared with $17.46 billion as of Sept. 30, 2018. Deposits at Sept. 30 were $20.00 billion, an increase from the $18.41 billion recorded as of Sept. 30, 2018.
Net charge-offs for the third quarter were $4.9 million, compared with $4.4 million for the three months ended Sept. 30, 2018.
The company's board on Oct. 15 authorized an additional $100 million to be available for the repurchase of Pinnacle Financial Partners common shares in open market transactions through Dec. 31, 2020, upon the completion of the company's currently authorized buyback program.