Equity method investment

3 Months Ended

Mar. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Note 3. Equity method investment

A summary of BHG's financial position as of March 31, 2018 and December 31, 2017 and results of operations as of and for the three months ended March 31, 2018 and 2017, were as follows (in thousands):



	As of
	March 31, 2018		December 31, 2017
Assets	$	340,760	$	330,030

Liabilities	232,978		224,837
Membership interests	107,782		105,193
Total liabilities and membership interests	$	340,760	$	330,030



	For the three months ended March 31,
	2018		2017
Revenues	$	43,750	$	34,235
Net income	$	19,003	$	16,012

At March 31, 2018, technology, trade name and customer relationship intangibles, net of related amortization, totaled $12.7 million compared to $13.4 million as of December 31, 2017. Amortization expense of $693,000 was included for the three months ended March 31, 2018 compared to $832,000 for the same period in the prior year. Accretion income of $742,000 was included in the three months ended March 31, 2018 compared to $806,000 for the same period in the prior year.

During the three months ended March 31, 2018, Pinnacle Financial and Pinnacle Bank received dividends from BHG of $4.3 million in the aggregate compared to $2.5 million for the same period in the prior year. Earnings from BHG are included in Pinnacle Financial's consolidated tax return. Profits from intercompany transactions are eliminated. No loans were purchased from BHG by Pinnacle Bank for the three month periods ended March 31, 2018 or 2017, respectively.