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Other borrowings
 12 Months Ended
Dec. 31, 2023
Subordinated Debt [Abstract]  
Subordinated Borrowings Disclosure
Note 9.  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 has entered into certain other subordinated debt agreements. These instruments are outlined below as of December 31, 2023 (in thousands):
NameDate EstablishedMaturityTotal Debt OutstandingInterest Rate at December 31, 2023Coupon Structure
Trust preferred securities
Pinnacle Statutory Trust IDecember 29, 2003December 30, 2033$10,310 8.44 %
3-month SOFR + 2.80%(1)
Pinnacle Statutory Trust IISeptember 15, 2005September 30, 203520,619 6.99 %
3-month SOFR + 1.40%(1)
Pinnacle Statutory Trust IIISeptember 07, 2006September 30, 203620,619 7.24 %
3-month SOFR + 1.65%(1)
Pinnacle Statutory Trust IVOctober 31, 2007September 30, 203730,928 8.50 %
3-month SOFR + 2.85%(1)
BNC Capital Trust IApril 03, 2003April 15, 20335,155 8.91 %
3-month SOFR + 3.25%(1)
BNC Capital Trust IIMarch 11, 2004April 07, 20346,186 8.51 %
3-month SOFR + 2.85%(1)
BNC Capital Trust IIISeptember 23, 2004September 23, 20345,155 8.06 %
3-month SOFR + 2.40%(1)
BNC Capital Trust IVSeptember 27, 2006December 31, 20367,217 7.29 %
3-month SOFR + 1.70%(1)
Valley Financial Trust IJune 26, 2003June 26, 20334,124 8.72 %
3-month SOFR + 3.10%(1)
Valley Financial Trust IISeptember 26, 2005December 15, 20357,217 7.14 %
3-month SOFR + 1.49%(1)
Valley Financial Trust IIIDecember 15, 2006January 30, 20375,155 7.38 %
3-month SOFR + 1.73%(1)
Southcoast Capital Trust IIIAugust 05, 2005September 30, 203510,310 7.09 %
3-month SOFR + 1.50%(1)
Subordinated Debt
Pinnacle Financial Subordinated NotesSeptember 11, 2019September 15, 2029300,000 4.13 %
Fixed (2)
Debt issuance costs and fair value adjustment (8,057)
Total subordinated debt and other borrowings $424,938 
(1) Rate transitioned to three month term SOFR plus a comparable tenor spread adjustment beginning after July 1, 2023 as three month LIBOR ceased to be published effective July 1, 2023.
(2) Previously was to transition to three month LIBOR + 2.775%, but will now migrate to an alternative benchmark rate plus comparable spread beginning September 15, 2024 through the end of the term as three month LIBOR ceased to be published effective July 1, 2023.