Equity method investment

9 Months Ended

Sep. 30, 2019

Equity Method Investments and Joint Ventures [Abstract]

Note 2. Equity method investment

A summary of BHG's financial position as of September 30, 2019 and December 31, 2018 and results of operations as of and for the three and nine months ended September 30, 2019 and 2018, were as follows (in thousands):



	As of
	September 30, 2019		December 31, 2018
Assets	$	695,300	$	459,816

Liabilities	499,460		324,211
Equity interests	195,840		135,605
Total liabilities and equity	$	695,300	$	459,816



	For the three months ended September 30,				For the nine months ended September 30,
	2019		2018		2019		2018
Revenues	$	108,770	$	59,133	$	279,569	$	151,937
Net income	$	61,364	$	30,933	$	156,064	$	69,039

At September 30, 2019, technology, trade name and customer relationship intangibles, net of related amortization, totaled $9.2 million compared to $10.7 million as of December 31, 2018. Amortization expense of $475,000 and $1.4 million, respectively, was included for the three and nine months ended September 30, 2019 compared to $693,000 and $2.1 million, respectively, for the same periods in the prior year. Accretion income of $630,000 and $2.0 million, respectively was included in the three and nine months ended September 30, 2019 compared to $719,000 and $2.2 million, respectively, for the same periods in the prior year.

During the three and nine months ended September 30, 2019, Pinnacle Financial and Pinnacle Bank received dividends from BHG of $9.0 million and $49.9 million, respectively, in the aggregate compared to $10.2 million and $33.7 million, respectively, for the same periods 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 and nine month periods ended September 30, 2019 or 2018, respectively.