PNFP · Pinnacle Financial Partners Q2 FY2026 earnings call record财报电话会记录

“Moving to capital, preliminary CET1 increased 12 basis points this quarter, reflecting the strength of our core earnings profile and the ability to generate capital inclusive of roughly 14% annualized loan growth we experienced in Q2.”

“Adjusted diluted EPS increased 5% versus the prior quarter and 25% versus second quarter 2025 results.”

“On a year-to-date combined basis, period-end deposits increased 2%, which, along with the more positive seasonal trends, should keep us on pace for full-year deposit growth of 8%-10%.”

“Net interest margin came in at 3.44%, down 9 basis points versus the first quarter, or roughly 6 basis points excluding the first quarter non-recurring items.”

“Other factors that proved headwinds during the quarter included a modest decline in loan yields, which were impacted by a roughly 3-4 basis point average decline in SOFR rates and an increase in higher cost funding as seasonality in deposits pressed our loan-to-deposit ratio higher.”

“Importantly, when combining the robust NII growth with the continued strength in fee income across our core client businesses that we have seen to date, we continue to expect to be well within our revenue outlook and trending more specifically to $5.05 billion-$5.1 billion.”

“There's the headwind due to debt issuance, a little bit of a nuance to the margin.”

“Obviously, it's early for us to give 2027 guidance, but you're right to think about the liquidity impacts in 2027 being a further headwind.”

“I guess the way I would characterize it is a $1 billion of long-term debt is about 1-1.5 basis points of margin per $1 billion.”

“The impact of growth as you get further along, actually, the relative impact diminishes because when your starting point of the margin is closer to 330, which we say is the incremental margin of the growth, then that impact of the future growth is less on the margin.”

“Each quarter, we generate about 30 basis points of capital before risk-weighted asset increases.”

“If we grow a couple billion dollars in loans each quarter in the second half of the year, that's going to consume 15-20 basis points of that 30, and the rest will drop to capital accretion.”