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Other borrowings (Tables) | 3 Months Ended
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Mar. 31, 2021
Subordinated Debt [Abstract] |
Schedule of Other Borrowings | Pinnacle Financial has twelve wholly-owned subsidiaries that are statutory business trusts created for the exclusive purpose of issuing 30-year capital trust preferred securities and Pinnacle Financial and Pinnacle Bank have entered into certain other subordinated debt agreements. These instruments are outlined below as of March 31, 2021 (in thousands):
Name | Date Established | Maturity | Total Debt Outstanding | Interest Rate at March 31, 2021 | Coupon Structure
Trust preferred securities |  |  |  |
Pinnacle Statutory Trust I | December 29, 2003 | December 30, 2033 | $ | 10,310 |  | 2.98 | % | 30-day LIBOR + 2.80%
Pinnacle Statutory Trust II | September 15, 2005 | September 30, 2035 | 20,619 |  | 1.60 | % | 30-day LIBOR + 1.40%
Pinnacle Statutory Trust III | September 7, 2006 | September 30, 2036 | 20,619 |  | 1.85 | % | 30-day LIBOR + 1.65%
Pinnacle Statutory Trust IV | October 31, 2007 | September 30, 2037 | 30,928 |  | 3.03 | % | 30-day LIBOR + 2.85%
BNC Capital Trust I | April 3, 2003 | April 15, 2033 | 5,155 |  | 3.49 | % | 30-day LIBOR + 3.25%
BNC Capital Trust II | March 11, 2004 | April 7, 2034 | 6,186 |  | 3.09 | % | 30-day LIBOR + 2.85%
BNC Capital Trust III | September 23, 2004 | September 23, 2034 | 5,155 |  | 2.64 | % | 30-day LIBOR + 2.40%
BNC Capital Trust IV | September 27, 2006 | December 31, 2036 | 7,217 |  | 1.90 | % | 30-day LIBOR + 1.70%
Valley Financial Trust I | June 26, 2003 | June 26, 2033 | 4,124 |  | 3.30 | % | 30-day LIBOR + 3.10%
Valley Financial Trust II | September 26, 2005 | December 15, 2035 | 7,217 |  | 1.67 | % | 30-day LIBOR + 1.49%
Valley Financial Trust III | December 15, 2006 | January 30, 2037 | 5,155 |  | 1.94 | % | 30-day LIBOR + 1.73%
Southcoast Capital Trust III | August 5, 2005 | September 30, 2035 | 10,310 |  | 1.70 | % | 30-day LIBOR + 1.50%
Subordinated Debt |  |  |  |
Pinnacle Bank Subordinated Notes | July 30, 2015 | July 30, 2025 | 60,000 |  | 3.33 | % | 3-month LIBOR + 3.128%
Pinnacle Bank Subordinated Notes | March 10, 2016 | July 30, 2025 | 70,000 |  | 3.33 | % | 3-month LIBOR + 3.128%
Pinnacle Financial Subordinated Notes | November 16, 2016 | November 16, 2026 | 120,000 |  | 5.25 | % | Fixed (1)
Pinnacle Financial Subordinated Notes | September 11, 2019 | September 15, 2029 | 300,000 |  | 4.13 | % | Fixed (2)
Debt issuance costs and fair value adjustments | (11,993) |  |  |
Total subordinated debt and other borrowings | $ | 671,002 |  |  |
(1) Migrates to three month LIBOR + 3.884% beginning November 16, 2021 through the end of the term. (2) Migrates to three month LIBOR + 2.775% beginning September 15, 2024 through the end of the term.

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