I n 2019, Chattanooga grew loans by double digits, and local deposits surged, crossing the $1 billion milestone with an increase of nearly 21 percent over 2018, more than twice the previous year-over-year rate. Pinnacle’s commercial share continues to expand in Chattanooga, and Pinnacle added six revenue producers with an average of 22 years of experience. The firm also added an office in the booming Ooltewah community this year, giving clients convenience mid-way between the downtown Chattanooga offices and the Cleveland office northeast of town.
Chattanooga’s $32.6 billion economy includes advanced manufacturing, automotive production, health services, textile production, transportation and logistics services, and food and beverage production. The city also boasts a strong entrepreneurial ecosystem supporting startups and small business, earning a spot on the 50 Best U.S. Cities for Starting a Business in 2020. Chattanooga is near multiple state borders, making it easily accessible from other major Southeast cities like Atlanta, the firm’s most recent market addition.
to $1.05 billion
to $1.42 billion
Chattanooga on the Charts
- Forbes’ Best States for Business — Tennessee is #7
- CNBC’s Top States for Business — Tennessee is #13
- Conde Nast Traveler’s Top 10 Small Cities in the United States — #8
- America’s Best Cities, Small — #22
- Inc. Magazine’s Best Cities for Startups — #36 overall, #13 in High-growth Company Density
- U.S. News and World Report’s Best Places to Retire — #21