XML 43 R27.htm IDEA: XBRL DOCUMENT
v3.20.4

Parent Company Only Financial Information | 12 Months Ended
--- | ---
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Information | Note 21. Parent Company Only Financial Information The following information presents the condensed balance sheets, statements of operations, and cash flows of Pinnacle Financial as of December 31, 2020 and 2019 and for each of the years in the three-year period ended December 31, 2020 (in thousands): CONDENSED BALANCE SHEETS
| 2020 |  | 2019
Assets: |  |  |
Cash and cash equivalents | $ | 275,888 |  |  | $ | 182,091 |
Investments in bank subsidiaries | 4,972,160 |  |  | 4,653,310 |
Investments in consolidated subsidiaries | 9,322 |  |  | 7,816 |
Investment in unconsolidated subsidiaries: |  |  |
Statutory Trusts | 3,995 |  |  | 3,995 |
Other investments | 113,445 |  |  | 97,459 |
Current income tax receivable | 51,621 |  |  | 11,696 |
Other assets | 25,747 |  |  | 29,566 |
| $ | 5,452,178 |  |  | $ | 4,985,933 |
Liabilities and stockholders' equity: |  |  |
Income taxes payable to subsidiaries | — |  |  | 2,467 |
Subordinated debt and other borrowings | 541,286 |  |  | 620,256 |
Other liabilities | 6,281 |  |  | 7,462 |
Stockholders' equity | 4,904,611 |  |  | 4,355,748 |
| $ | 5,452,178 |  |  | $ | 4,985,933 |
CONDENSED STATEMENTS OF OPERATIONS
| 2020 |  | 2019 |  | 2018
Revenues: |  |  |  |  |
Income from bank subsidiaries | $ | 119,065 |  |  | $ | 113,982 |  |  | $ | 83,090 |
Income from nonbank subsidiaries | 119 |  |  | 178 |  |  | 170 |
Income from equity method investment | 22,587 |  |  | 24,298 |  |  | 13,731 |
Other income | 3,861 |  |  | 3,485 |  |  | 1,310 |
Expenses: |  |  |  |  |
Interest expense | 23,877 |  |  | 18,425 |  |  | 17,703 |
Personnel expense, including stock compensation | 18,737 |  |  | 21,226 |  |  | 17,636 |
Other expense | 2,905 |  |  | 1,496 |  |  | 1,312 |
Income before income taxes and equity in undistributed income of subsidiaries | 100,113 |  |  | 100,796 |  |  | 61,650 |
Income tax benefit | (5,370) |  |  | (4,457) |  |  | (8,570) |
Income before equity in undistributed income of subsidiaries | 105,483 |  |  | 105,253 |  |  | 70,220 |
Equity in undistributed income of bank subsidiaries | 205,327 |  |  | 294,354 |  |  | 288,728 |
Equity in undistributed income of nonbank subsidiaries | 1,511 |  |  | 1,274 |  |  | 492 |
Net income | $ | 312,321 |  |  | $ | 400,881 |  |  | $ | 359,440 |
Preferred stock dividends | 7,596 |  |  | — |  |  | — |
Net income available to common shareholders | $ | 304,725 |  |  | $ | 400,881 |  |  | $ | 359,440 |
CONDENSED STATEMENTS OF CASH FLOWS
| 2020 |  | 2019 |  | 2018
Operating activities: |  |  |  |  |
Net income | $ | 312,321 |  |  | $ | 400,881 |  |  | $ | 359,440 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Amortization and accretion | 1,122 |  |  | (3,094) |  |  | 105 |
Stock-based compensation expense | 18,737 |  |  | 21,226 |  |  | 17,636 |
Increase (decrease) in income tax payable, net | (2,467) |  |  | 2,467 |  |  | (24) |
Deferred tax expense (benefit) | 3,876 |  |  | (2,857) |  |  | (549) |
Income from equity method investments, net | (22,587) |  |  | (24,298) |  |  | (13,731) |
Dividends received from equity method investment | 9,251 |  |  | 8,953 |  |  | 5,872 |
Excess tax benefit from stock compensation | (417) |  |  | (1,011) |  |  | (2,966) |
Gain on other investments | (195) |  |  | (1,057) |  |  | (209) |
Decrease (increase) in other assets | (39,981) |  |  | 7,295 |  |  | 4,390 |
Increase (decrease) in other liabilities | (764) |  |  | 5,322 |  |  | 2,758 |
Equity in undistributed income of bank subsidiary | (205,327) |  |  | (294,354) |  |  | (288,728) |
Equity in undistributed income of nonbank subsidiary | (1,511) |  |  | (1,274) |  |  | (492) |
Net cash provided by operating activities | 72,058 |  |  | 118,199 |  |  | 83,502 |
Investing activities: |  |  |  |  |
Investment in consolidated banking subsidiaries | — |  |  | (180,000) |  |  | — |
Increase in other investments | (2,454) |  |  | (1,411) |  |  | (2,321) |
Net cash used in investing activities | (2,454) |  |  | (181,411) |  |  | (2,321) |
Financing activities: |  |  |  |  |
Proceeds from subordinated debt and other borrowings, net of issuance costs | (93) |  |  | 316,078 |  |  | 19,850 |
Repayment of other borrowings | (80,000) |  |  | (49,880) |  |  | (620) |
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes | (2,488) |  |  | — |  |  | — |
Exercise of common stock options, net of repurchase of restricted shares | (2,577) |  |  | (3,694) |  |  | (5,071) |
Issuance of preferred stock, net of issuance costs | 217,126 |  |  | — |  |  | — |
Repurchase of common stock | (50,790) |  |  | (61,416) |  |  | (20,694) |
Common dividends paid | (49,389) |  |  | (49,828) |  |  | (45,454) |
Preferred stock dividends paid | (7,596) |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 24,193 |  |  | 151,260 |  |  | (51,989) |
Net increase in cash | 93,797 |  |  | 88,048 |  |  | 29,192 |
Cash and cash equivalents, beginning of year | 182,091 |  |  | 94,043 |  |  | 64,851 |
Cash and cash equivalents, end of year | $ | 275,888 |  |  | $ | 182,091 |  |  | $ | 94,043 |
Pinnacle Bank is subject to restrictions on the payment of dividends to Pinnacle Financial under Tennessee banking laws. Pinnacle Bank paid dividends of $119.1 million, $114.0 million and $83.1 million, respectively to Pinnacle Financial in each of the years ended December 31, 2020, 2019 and 2018.

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration