Richard Callicutt

Chairman for the Carolinas & Virginia and Director, Pinnacle Finl Partners

Search every verified Richard Callicutt interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 CNBC appearance, Pinnacle Financial Partners CEO Terry Turner discussed the company's incentive compensation structure, stating that 100% of salary-based associates are included in the incentive plan and that payouts are tied to hitting revenue and EPS targets. Turner noted that in 2023, a difficult year for banks, the company reduced incentives by 38%, and that assuming targets are met in the following year, the incentive expense would need to increase from 62% to 100%. He said the company believes it will grow EPS. Regarding commercial real estate exposure, Turner said the bank is "well underneath" regulatory guidelines of 100% of risk-based capital for construction credit and 300% for total commercial real estate. He attributed the health of the portfolio to strong growth in the Southeast since 2020, describing the region as the only U.S. quadrant with positive net population growth. Turner stated that the bank's internal scenario is for a soft landing rather than a serious recession.