XML 47 R16.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Federal Home Loan Bank Advances | 12 Months Ended
--- | ---
Dec. 31, 2024
Advance from Federal Home Loan Bank [Abstract] |
Federal Home Loan Bank Advances | Note 9. Federal Home Loan Bank Advances Pinnacle Bank is a member of the FHLB and as a result, is eligible for advances from the FHLB pursuant to the terms of various borrowing agreements, which assist Pinnacle Bank in the funding of its home mortgage and commercial real estate loan portfolios. Pinnacle Bank has pledged certain qualifying residential mortgage loans and, pursuant to a blanket lien, certain qualifying commercial mortgage loans with an aggregate carrying value of approximately $7.8 billion as collateral under the borrowing agreements with the FHLB. At December 31, 2024 and 2023, Pinnacle Bank had outstanding advances from the FHLB totaling approximately $1.9 billion and $2.1 billion, respectively. The scheduled maturities of FHLB advances at December 31, 2024 and interest rates are as follows (in thousands):
| Scheduled maturities |  | Weighted average interest rates(1)
2025 | $ | 116,250 |  |  | 4.92 | %
2026 | 162,500 |  |  | 4.00 | %
2027 | 242,116 |  |  | 4.15 | %
2028 | 1,375,000 |  |  | 3.97 | %
2029 | — |  |  | — | %
Thereafter | 11 |  |  | 2.75 | %
| 1,895,877 |  |  |
Deferred costs | (315) |  |  |
Fair value hedging adjustment | (21,428) |  |  |
Total Federal Home Loan Bank advances | $ | 1,874,134 |  |  |
Weighted average interest rate |  |  | 4.06 | %
(1)Some FHLB advances include variable interest rates and could increase in the future. The table reflects rates in effect as of December 31, 2024. At December 31, 2024, Pinnacle Bank had accommodations which allow it to borrow from the Federal Reserve Bank of Atlanta's discount window and purchase Federal funds from several of its correspondent banks on an overnight basis at prevailing overnight market rates. These accommodations are subject to various restrictions as to their term and availability, and in most cases, must be repaid within less than a month. At December 31, 2024, Pinnacle Bank had approximately $2.6 billion in borrowing availability with the FHLB, $6.5 billion with the Federal Reserve Bank discount window, and approximately $105.0 million with other correspondent banks with whom Pinnacle Bank has arranged lines of credit. At December 31, 2024, Pinnacle Bank was not carrying any balances with the Federal Reserve Bank discount window or correspondent banks under these arrangements.

X
- References No definition available. + Details
Name: | us-gaap_AdvancesFromFederalHomeLoanBanksAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)(3)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478878/942-470-45-1 Reference 3: 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 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_FederalHomeLoanBankAdvancesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration