​Pinnacle raising $60M to finance Tennessee buying spree

Come next week, Nashville's largest homegrown bank will be a billion dollars bigger. Pinnacle Bank, in the midst of two major acquisitions, expects the first of those deals to be completed this week. Shareholders of CapitalMark Bank & Trust last week overwhelmingly approved Pinnacle's $187 million offer to buy the Chattanooga bank. Pinnacle's purchase is expected to close July 31. For its part, Pinnacle (Nasdaq: PNFP) is raising $60 million in subordinated debt through a private offering for institutional…
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