Pinnacle-2019

P innacle rose again in deposit market share as reported by the FDIC, moving into the No. 13 spot as of June 30, 2019. With tenured advisors in business and commercial banking and recruitment of key positions in consumer banking, Pinnacle’s Upstate team added a number of notable commercial clients and began construction on a modern replacement for its Spartanburg office in 2019.

The Upstate continues to benefit from job growth in Greenville and Spartanburg that outpaced the national average at 39 and 36 percent, respectively. Greenville ranked fifth in the nation in net business creation in 2019. Thirty companies — some from China, Scotland, Netherlands and Japan — have announced plans to set up shop or expand in Greenville County, contributing to $401.8 million in announced capital investments in 2019. Leading growth in Spartanburg County is hotel development, up by 22 percent, with 300 businesses flourishing in downtown, 25 percent of which are new since 2016.