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Other borrowings
 6 Months Ended
Jun. 30, 2024
Subordinated Debt [Abstract]  
Other Borrowings
Note 12.  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):
NameDate
Established		MaturityTotal Debt OutstandingInterest Rate at June 30, 2024
Coupon Structure at
June 30, 2024
Trust preferred securities   
PNFP Statutory Trust IDecember 29, 2003December 30, 2033$10,310 8.40 %
3-month SOFR + 2.80% (1)
PNFP Statutory Trust IISeptember 15, 2005September 30, 203520,619 6.99 %
3-month SOFR + 1.40% (1)
PNFP Statutory Trust IIISeptember 7, 2006September 30, 203620,619 7.24 %
3-month SOFR + 1.65% (1)
PNFP Statutory Trust IVOctober 31, 2007September 30, 203730,928 8.45 %
3-month SOFR + 2.85% (1)
BNC Capital Trust IApril 3, 2003April 15, 20335,155 8.84 %
3-month SOFR + 3.25% (1)
BNC Capital Trust IIMarch 11, 2004April 7, 20346,186 8.44 %
3-month SOFR + 2.85% (1)
BNC Capital Trust IIISeptember 23, 2004September 23, 20345,155 7.99 %
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 8.70 %
3-month SOFR + 3.10% (1)
Valley Financial Trust IISeptember 26, 2005December 15, 20357,217 7.09 %
3-month SOFR + 1.49% (1)
Valley Financial Trust IIIDecember 15, 2006January 30, 20375,155 7.32 %
3-month SOFR + 1.73% (1)
Southcoast Capital Trust IIIAugust 5, 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 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.