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Other borrowings
 3 Months Ended
Mar. 31, 2022
Subordinated Debt [Abstract]  
Other Borrowings
Note 11.  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 March 31, 2022 (in thousands):
NameDate
Established		MaturityTotal Debt OutstandingInterest Rate at March 31, 2022Coupon Structure
Trust preferred securities   
Pinnacle Statutory Trust IDecember 29, 2003December 30, 2033$10,310 3.72 %30-day LIBOR + 2.80%
Pinnacle Statutory Trust IISeptember 15, 2005September 30, 203520,619 2.40 %30-day LIBOR + 1.40%
Pinnacle Statutory Trust IIISeptember 7, 2006September 30, 203620,619 2.66 %30-day LIBOR + 1.65%
Pinnacle Statutory Trust IVOctober 31, 2007September 30, 203730,928 3.68 %30-day LIBOR + 2.85%
BNC Capital Trust IApril 3, 2003April 15, 20335,155 3.49 %30-day LIBOR + 3.25%
NameDate
Established		MaturityTotal Debt OutstandingInterest Rate at March 31, 2022Coupon Structure
BNC Capital Trust IIMarch 11, 2004April 7, 20346,186 3.09 %30-day LIBOR + 2.85%
BNC Capital Trust IIISeptember 23, 2004September 23, 20345,155 2.64 %30-day LIBOR + 2.40%
BNC Capital Trust IVSeptember 27, 2006December 31, 20367,217 2.70 %30-day LIBOR + 1.70%
Valley Financial Trust IJune 26, 2003June 26, 20334,124 4.07 %30-day LIBOR + 3.10%
Valley Financial Trust IISeptember 26, 2005December 15, 20357,217 2.32 %30-day LIBOR + 1.49%
Valley Financial Trust IIIDecember 15, 2006January 30, 20375,155 2.03 %30-day LIBOR + 1.73%
Southcoast Capital Trust IIIAugust 5, 2005September 30, 203510,310 2.50 %30-day LIBOR + 1.50%
Subordinated Debt   
Pinnacle Financial Subordinated NotesSeptember 11, 2019September 15, 2029300,000 4.13 %
Fixed (1)
Debt issuance costs and fair value adjustments(9,676) 
Total subordinated debt and other borrowings$423,319  
(1) Migrates to three month LIBOR + 2.775% (or an alternative benchmark rate plus comparable spread in the event that three month LIBOR is no longer published on such adjustment date) beginning September 15, 2024 through the end of the term.

On July 30, 2021, Pinnacle Bank redeemed $130.0 million aggregate principal amount of subordinated notes due July 30, 2025. Additionally on November 16, 2021, Pinnacle Financial redeemed $120.0 million aggregate principal amount of subordinated notes due November 16, 2026. The redemption was funded with existing cash on hand. Pursuant to regulatory guidelines, once the maturity date on subordinated notes is within five years, a portion of the notes will no longer be eligible to be included in regulatory capital, with an additional portion being excluded each year over the five year period approaching maturity
On April 22, 2020, Pinnacle Financial established a credit facility with the Federal Reserve Bank in conjunction with the SBA Paycheck Protection Program. There are no amounts outstanding under this facility at March 31, 2022, and as of July 30, 2021, no new extensions of credit are allowed under the facility.