XML 47 R34.htm IDEA: XBRL DOCUMENT v3.22.0.1
Premises and Equipment and Lease Commitments (Tables)
12 Months Ended
Dec. 31, 2021
Premises and Equipment and Lease Commitments [Abstract]  
Schedule of Premises and Equipment
Premises and equipment at December 31, 2021 and 2020 are summarized as follows (in thousands):

 
 Range of Useful Lives
20212020
LandNot applicable$70,240 $70,140 
Buildings15 years-30 years202,255 194,432 
Leasehold improvements15 years-20 years54,922 50,867 
Furniture and equipment3 years-20 years138,766 126,678 
  466,183 442,117 
Less: accumulated depreciation and amortization 178,001 152,116 
   $288,182 $290,001 
Schedule of Lease Assets and Liabilities Right-of-use assets and lease liabilities relating to Pinnacle Financial's operating and finance leases are as follows at December 31, 2021 and 2020 (in thousands):
December 31, 2021December 31, 2020
Right-of-use assets:
Operating leases$92,819 $83,647 
Finance leases1,544 1,770 
Total right-of-use assets$94,363 $85,417 
Lease liabilities:
Operating leases$97,925 $87,737 
Finance leases2,739 3,001 
Total lease liabilities$100,664 $90,738 
Schedule of Lease Costs and Other Information The total lease cost related to operating leases and short term leases is recognized on a straight-line basis over the lease term. For finance leases, right-of-use assets are amortized on a straight-line basis over the lease term and interest imputed on the lease liability is recognized using the effective interest method. The components of Pinnacle Financial's total lease cost were as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands):
For the years ended December 31,
202120202019
Operating lease cost$15,696 $13,963 $13,992 
Short-term lease cost297 354 295 
Finance lease cost:
Interest on lease liabilities208 227 243 
Amortization of right-of-use asset226 226 226 
Sublease income(1,309)(1,324)(1,463)
Net lease cost$15,118 $13,446 $13,293 
The weighted average remaining lease term and weighted average discount rate for operating and finance leases at December 31, 2021 and 2020 are as follows:
December 31, 2021December 31, 2020
Weighted average remaining lease term
Operating leases10.00 years10.37 years
Finance leases6.84 years7.84 years
Weighted average discount rate
Operating leases2.71 %2.91 %
Finance leases7.22 %7.22 %

Cash flows related to operating and finance leases during the years ended December 31, 2021, 2020 and 2019 were as follows (in thousands):
For the years ended December 31,
202120202019
Operating cash flows related to operating leases$14,712 $13,494 $13,609 
Operating cash flows related to finance leases$208 $227 $243 
Financing cash flows related to finance leases$261 $243 $226 
Schedule of Future Minimum Operating Lease Payments Future undiscounted lease payments for operating and finance leases with initial terms of more than 12 months are as follows at December 31, 2021 (in thousands):
Operating LeasesFinance Leases
2022$14,557 $470 
202313,879 479 
202413,908 527 
202511,717 527 
20269,580 527 
Thereafter50,498 967 
Total undiscounted lease payments114,139 3,497 
Less: imputed interest(16,214)(758)
Net lease liabilities$97,925 $2,739 
Schedule of Future Minimum Finance Lease Payments Future undiscounted lease payments for operating and finance leases with initial terms of more than 12 months are as follows at December 31, 2021 (in thousands):
Operating LeasesFinance Leases
2022$14,557 $470 
202313,879 479 
202413,908 527 
202511,717 527 
20269,580 527 
Thereafter50,498 967 
Total undiscounted lease payments114,139 3,497 
Less: imputed interest(16,214)(758)
Net lease liabilities$97,925 $2,739