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Other borrowings (Tables)

9 Months Ended

Sep. 30, 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 has entered into certain other subordinated debt agreements. These instruments are outlined below as of September 30, 2021 (in thousands):

Name			Date Established			Maturity			Total Debt Outstanding			Interest Rate at September 30, 2021			Coupon Structure
Trust preferred securities
Pinnacle Statutory Trust I			December 29, 2003			December 30, 2033			$	10,310		2.92		%	30-day LIBOR + 2.80%
Pinnacle Statutory Trust II			September 15, 2005			September 30, 2035			20,619			1.53		%	30-day LIBOR + 1.40%
Pinnacle Statutory Trust III			September 7, 2006			September 30, 2036			20,619			1.78		%	30-day LIBOR + 1.65%
Pinnacle Statutory Trust IV			October 31, 2007			September 30, 2037			30,928			2.97		%	30-day LIBOR + 2.85%
BNC Capital Trust I			April 3, 2003			April 15, 2033			5,155			3.38		%	30-day LIBOR + 3.25%
BNC Capital Trust II			March 11, 2004			April 7, 2034			6,186			2.98		%	30-day LIBOR + 2.85%
BNC Capital Trust III			September 23, 2004			September 23, 2034			5,155			2.53		%	30-day LIBOR + 2.40%
BNC Capital Trust IV			September 27, 2006			December 31, 2036			7,217			1.83		%	30-day LIBOR + 1.70%
Valley Financial Trust I			June 26, 2003			June 26, 2033			4,124			3.23		%	30-day LIBOR + 3.10%
Valley Financial Trust II			September 26, 2005			December 15, 2035			7,217			1.61		%	30-day LIBOR + 1.49%
Valley Financial Trust III			December 15, 2006			January 30, 2037			5,155			1.86		%	30-day LIBOR + 1.73%
Southcoast Capital Trust III			August 5, 2005			September 30, 2035			10,310			1.63		%	30-day LIBOR + 1.50%
Subordinated Debt
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									(10,283)
Total subordinated debt and other borrowings									$	542,712

(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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- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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