XML 52 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Other borrowings Other Borrowings (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Instrument [Line Items]  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block]
Name
Date Established
Maturity
Total Debt Outstanding
Interest Rate at December 31, 2018
Coupon Structure
Trust preferred securities
 
 
 
 
 
Pinnacle Statutory Trust I
December 29, 2003
December 30, 2033
$
10,310

5.59
%
30-day LIBOR + 2.80%
Pinnacle Statutory Trust II
September 15, 2005
September 30, 2035
20,619

4.20
%
30-day LIBOR + 1.40%
Pinnacle Statutory Trust III
September 7, 2006
September 30, 2036
20,619

4.45
%
30-day LIBOR + 1.65%
Pinnacle Statutory Trust IV
October 31, 2007
September 30, 2037
30,928

5.64
%
30-day LIBOR + 2.85%
BNC Capital Trust I
April 3, 2003
April 15, 2033
5,155

5.69
%
30-day LIBOR + 3.25%
BNC Capital Trust II
March 11, 2004
April 7, 2034
6,186

5.29
%
30-day LIBOR + 2.85%
BNC Capital Trust III
September 23, 2004
September 23, 2034
5,155

4.84
%
30-day LIBOR + 2.40%
BNC Capital Trust IV
September 27, 2006
December 31, 2036
7,217

4.50
%
30-day LIBOR + 1.70%
Valley Financial Trust I
June 26, 2003
June 26, 2033
4,124

5.92
%
30-day LIBOR + 3.10%
Valley Financial Trust II
September 26, 2005
December 15, 2035
7,217

4.28
%
30-day LIBOR + 1.49%
Valley Financial Trust III
December 15, 2006
January 30, 2037
5,155

4.25
%
30-day LIBOR + 1.73%
Southcoast Capital Trust III
August 5, 2005
September 30, 2035
10,310

4.30
%
30-day LIBOR + 1.50%
 
 
 
 
 
 
Subordinated Debt
 
 
 
 
 
Pinnacle Bank Subordinated Notes
July 30, 2015
July 30, 2025
60,000

4.88
%
Fixed(1)
Pinnacle Bank Subordinated Notes
March 10, 2016
July 30, 2025
70,000

4.88
%
Fixed(1)
Avenue Subordinated Notes
December 29, 2014
December 29, 2024
20,000

6.75
%
Fixed(2)
Pinnacle Financial Subordinated Notes
November 16, 2016
November 16, 2026
120,000

5.25
%
Fixed(3)
BNC Subordinated Notes
September 25, 2014
October 1, 2024
60,000

5.50
%
Fixed(4)
BNC Subordinated Note
October 15, 2013
October 15, 2023
9,880

7.34
%
30-day LIBOR + 5.0%(5)
 
 
 
 
 
 
Other Borrowings
 
 
 
 
 
Revolving credit facility(6)
April 26, 2018
April 25, 2019
20,000

4.10
%
30-day LIBOR + 1.75%
Debt issuance costs and fair value adjustment
 
(7,745
)
 
 
Total subordinated debt and other borrowings
 
$
485,130

 
 

(1) Migrates to three month LIBOR + 3.128% beginning July 30, 2020 through the end of the term.
(2) Migrates to three month LIBOR + 4.95% beginning January 1, 2020 through the end of the term.
(3) Migrates to three month LIBOR + 3.884% beginning November 16, 2021 through the end of the term.
(4) Migrates to three month LIBOR + 3.59% beginning October 1, 2019 through the end of the term if not redeemed on that date.
(5) Coupon structure includes a floor of 5.0% and a cap of 9.5%.
(6) Borrowing capacity on the revolving credit facility is $75.0 million. An unused fee of 0.35% is assessed on the average daily unused amount of the loan.