Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) ("Pinnacle") completed its previously announced merger with Magna Bank ("Magna") today.

The acquisition, which was first announced on April 28, 2015, was concluded following the receipt of shareholder approval from Magna's shareholders and receipt of all required regulatory approvals. Based on financial information as of June 30, 2015, on a pro forma basis, the combined company has total assets of nearly $8.2 billion with 42 offices in 13 Tennessee counties.

"The completion of our legal merger with Magna is an important step in Pinnacle's geographic expansion to Tennessee's four urban markets," said M. Terry Turner, president and CEO of Pinnacle Financial Partners. "Closing this acquisition only four months after the announcement was possible because of the diligent work of our and Magna's associates, our relationship with regulators and our reputation in the communities we serve."

Upon closing, Magna director Thomas C. Farnsworth III of Farnsworth Holding Company in Memphis was appointed to Pinnacle's board.

"Both firms' shareholders and clients will benefit from this merger," said Kirk P. Bailey, Magna's chairman, president and chief executive officer, who will serve as the Memphis chairman of the combined firm. "Our teams have been working together very well, and we are all highly committed to continuing our rapid growth in the Memphis market."

Magna will operate as a division of Pinnacle Bank until November 2015 when both firms anticipate combining their operations. Magna clients should continue to bank with Magna as they always have, using their existing checks, ATM/debit cards, payment coupons, etc. until the operational conversion in November 2015.