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Following $2 billion BNC Bancorp deal, Pinnacle makes big job cuts

Meg Garner
American City Business Journals

There are several ways to cut costs following an acquisition, and slashing jobs is one of them. It may not be much of a surprise, then, that Pinnacle Financial Partners has cut 17% of BNC Bancorp's staff following its $2 billion buyout of the North Carolina-based lender last year. According to Securities and Exchange Commission filings, BNC had 1,075 full-time employees when its acquisition by Pinnacle was announced.