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Other borrowings (Tables) | 6 Months Ended
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Jun. 30, 2024
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 June 30, 2024 (in thousands):
Name | Date Established | Maturity | Total Debt Outstanding | Interest Rate at June 30, 2024 | Coupon Structure at June 30, 2024
Trust preferred securities |  |  |  |
PNFP Statutory Trust I | December 29, 2003 | December 30, 2033 | $ | 10,310 |  | 8.40 | % | 3-month SOFR + 2.80% (1)
PNFP Statutory Trust II | September 15, 2005 | September 30, 2035 | 20,619 |  | 6.99 | % | 3-month SOFR + 1.40% (1)
PNFP Statutory Trust III | September 7, 2006 | September 30, 2036 | 20,619 |  | 7.24 | % | 3-month SOFR + 1.65% (1)
PNFP Statutory Trust IV | October 31, 2007 | September 30, 2037 | 30,928 |  | 8.45 | % | 3-month SOFR + 2.85% (1)
BNC Capital Trust I | April 3, 2003 | April 15, 2033 | 5,155 |  | 8.84 | % | 3-month SOFR + 3.25% (1)
BNC Capital Trust II | March 11, 2004 | April 7, 2034 | 6,186 |  | 8.44 | % | 3-month SOFR + 2.85% (1)
BNC Capital Trust III | September 23, 2004 | September 23, 2034 | 5,155 |  | 7.99 | % | 3-month SOFR + 2.40% (1)
BNC Capital Trust IV | September 27, 2006 | December 31, 2036 | 7,217 |  | 7.29 | % | 3-month SOFR + 1.70% (1)
Valley Financial Trust I | June 26, 2003 | June 26, 2033 | 4,124 |  | 8.70 | % | 3-month SOFR + 3.10% (1)
Valley Financial Trust II | September 26, 2005 | December 15, 2035 | 7,217 |  | 7.09 | % | 3-month SOFR + 1.49% (1)
Valley Financial Trust III | December 15, 2006 | January 30, 2037 | 5,155 |  | 7.32 | % | 3-month SOFR + 1.73% (1)
Southcoast Capital Trust III | August 5, 2005 | September 30, 2035 | 10,310 |  | 7.09 | % | 3-month SOFR + 1.50% (1)
Subordinated Debt |  |  |  |
Pinnacle Financial Subordinated Notes | September 11, 2019 | September 15, 2029 | 300,000 |  | 4.13 | % | Fixed (2)
Debt issuance costs and fair value adjustments | (7,615) |  |  |
Total subordinated debt and other borrowings | $ | 425,380 |  |  |
(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 migrate to three month LIBOR + 2.775%, but the Company expects it will migrate to three month CME Term SOFR + 3.04% beginning September 15, 2024 through the end of the term as three month LIBOR ceased to be published effective July 1, 2023.

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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