Equity method investment

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Note 2. Equity method investment

A summary of BHG's financial position as of June 30, 2020 and December 31, 2019 and results of operations as of and for the three and six months ended June 30, 2020 and 2019, were as follows (in thousands):


	As of
	June 30, 2020		December 31, 2019
Assets	$	1,268,208	$	840,398

Liabilities	1,046,948		641,037
Equity interests	221,260		199,361
Total liabilities and equity	$	1,268,208	$	840,398


	For the three months ended June 30,						For the six months ended June 30,
	2020		2019		2020		2019
Revenues	$	92,790	$	107,982	$	190,734	$	170,799
Net income	$	37,674	$	67,564	$	70,145	$	94,699

At June 30, 2020, technology, trade name and customer relationship intangibles, net of related amortization, totaled $8.2 million compared to $8.8 million as of December 31, 2019. Amortization expense of $293,000 and $587,000, respectively, was included for the three and six months ended June 30, 2020 compared to $475,000 and $950,000, respectively, for the same periods in the prior year. Accretion income of $541,000 and $1.1 million, respectively, was included in the three and six months ended June 30, 2020 compared to $660,000 and $1.3 million, respectively, for the same periods in the prior year.

During the three months ended June 30, 2020, Pinnacle Financial and Pinnacle Bank received no dividends from BHG. During the six months ended June 30, 2020, Pinnacle Financial and Pinnacle Bank received dividends from BHG of $8.0 million in the aggregate. During the three and six months ended June 30, 2019, Pinnacle Financial and Pinnacle Bank received dividends of $28.2 million and $40.9 million, respectively, in the aggregate. 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 six month periods ended June 30, 2020 or 2019, respectively.