U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 29549
FORM 10-QSB
AMENDMENT NO. 1
QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR QUARTERLY PERIOD ENDED SEPTEMBER 30, 1998
Commission File Number 33-67528
PINNACLE FINANCIAL CORPORATION
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(Exact name of small business issuer as specified in its charter)
Georgia 58-1538862
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization Number)
884 Elbert Street,
P.O. Box 430, Elberton, Georgia 30635-0430
- --------------------------------------- -----------
(Address of principal executive offices) (Zip Code)
Issuer's telephone number, including area code: (706) 283-2854
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or
for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the
past 90 days. Yes /X/ No / /
State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date:
AS OF OCTOBER 31, 1998 THERE WERE 768,000 SHARES OF COMMON STOCK OUTSTANDING.
<PAGE>
ITEM 27. EXHIBITS AND REPORTS ON FORM 8-K
Exhibit 27 - Amended Financial Data Schedule (for SEC use only)
17<PAGE>
SIGNATURES
In accordance with the requirements of the Exchange Act, the
registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PINNACLE FINANCIAL CORPORATION
Date: November 20, 1998 By: L. Jackson McConnell
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L. Jackson McConnell
Chairman and Chief Executive Officer
(Principal Executive and Financial Officer)
<TABLE> <S> <C>
<ARTICLE> 9
<CIK> 0000910678
<NAME> PINNACLE FINANCIAL CORPORATION
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> SEP-30-1998
<CASH> 7,003,939
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 4,830,000
<TRADING-ASSETS> 91,609,735
<INVESTMENTS-HELD-FOR-SALE> 0
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 0
<LOANS> 144,974,201
<ALLOWANCE> 2,204,537
<TOTAL-ASSETS> 258,480,028
<DEPOSITS> 215,066,555
<SHORT-TERM> 0
<LIABILITIES-OTHER> 3,141,714
<LONG-TERM> 0
0
0
<COMMON> 7,680,000
<OTHER-SE> 32,591,759
<TOTAL-LIABILITIES-AND-EQUITY> 258,480,028
<INTEREST-LOAN> 11,179,187
<INTEREST-INVEST> 4,338,027
<INTEREST-OTHER> 0
<INTEREST-TOTAL> 15,517,215
<INTEREST-DEPOSIT> 5,957,606
<INTEREST-EXPENSE> 5,958,262
<INTEREST-INCOME-NET> 9,558,952
<LOAN-LOSSES> 225,000
<SECURITIES-GAINS> 25,568
<EXPENSE-OTHER> 5,660,517
<INCOME-PRETAX> 5,472,307
<INCOME-PRE-EXTRAORDINARY> 3,785,053
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 3,785,053
<EPS-PRIMARY> 4.93
<EPS-DILUTED> 4.93
<YIELD-ACTUAL> 8.4
<LOANS-NON> 162,215
<LOANS-PAST> 588,995
<LOANS-TROUBLED> 197,929
<LOANS-PROBLEM> 1,277,007
<ALLOWANCE-OPEN> 2,035,015
<CHARGE-OFFS> 179,420
<RECOVERIES> 123,942
<ALLOWANCE-CLOSE> 2,204,537
<ALLOWANCE-DOMESTIC> 797,000
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 1,407,537
</TABLE>
