10-Q 1 pnfp-20240930.htm 10-Q pnfp-20240930
0001115055December 312024Q3FALSE77,245,1502,713,9012,775,1841,7071,7071,0001,00010,00010,0002252252252251.001.00180,000180,00077,23276,76777,23276,7670.2216.880.2216.880.2216.880.2216.880.2216.880.2216.88no0.0no1.7000.51.920.51.920.250.250.552000015,0030.12015,0035,5280.145,52811,1650.1513,4760.1824,6413,2250.033,22511,1658,75313,47633,3940.250.250.55225.0008.8000http://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherLiabilitiesxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pureutr:Ratepnfp:subsidiary00011150552024-01-012024-09-300001115055us-gaap:CommonClassAMember2024-01-012024-09-300001115055us-gaap:NoncumulativePreferredStockMember2024-01-012024-09-3000011150552024-10-3100011150552024-09-3000011150552023-12-3100011150552024-07-012024-09-3000011150552023-07-012023-09-3000011150552023-01-012023-09-300001115055us-gaap:DepositAccountMember2024-07-012024-09-300001115055us-gaap:DepositAccountMember2023-07-012023-09-300001115055us-gaap:DepositAccountMember2024-01-012024-09-300001115055us-gaap:DepositAccountMember2023-01-012023-09-300001115055us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2024-07-012024-09-300001115055us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2023-07-012023-09-300001115055us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2024-01-012024-09-300001115055us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2023-01-012023-09-300001115055pnfp:InsurancesalescommissionsMember2024-07-012024-09-300001115055pnfp:InsurancesalescommissionsMember2023-07-012023-09-300001115055pnfp:InsurancesalescommissionsMember2024-01-012024-09-300001115055pnfp:InsurancesalescommissionsMember2023-01-012023-09-300001115055us-gaap:MortgageBankingMember2024-07-012024-09-300001115055us-gaap:MortgageBankingMember2023-07-012023-09-300001115055us-gaap:MortgageBankingMember2024-01-012024-09-300001115055us-gaap:MortgageBankingMember2023-01-012023-09-300001115055pnfp:GainonsaleofinvestmentsecuritiesnetMember2024-07-012024-09-300001115055pnfp:GainonsaleofinvestmentsecuritiesnetMember2023-07-012023-09-300001115055pnfp:GainonsaleofinvestmentsecuritiesnetMember2024-01-012024-09-300001115055pnfp:GainonsaleofinvestmentsecuritiesnetMember2023-01-012023-09-300001115055us-gaap:FiduciaryAndTrustMember2024-07-012024-09-300001115055us-gaap:FiduciaryAndTrustMember2023-07-012023-09-300001115055us-gaap:FiduciaryAndTrustMember2024-01-012024-09-300001115055us-gaap:FiduciaryAndTrustMember2023-01-012023-09-300001115055pnfp:IncomefromequitymethodinvestmentMember2024-07-012024-09-300001115055pnfp:IncomefromequitymethodinvestmentMember2023-07-012023-09-300001115055pnfp:IncomefromequitymethodinvestmentMember2024-01-012024-09-300001115055pnfp:IncomefromequitymethodinvestmentMember2023-01-012023-09-300001115055pnfp:GainLossOnSaleOfFixedAssetsMember2024-07-012024-09-300001115055pnfp:GainLossOnSaleOfFixedAssetsMember2023-07-012023-09-300001115055pnfp:GainLossOnSaleOfFixedAssetsMember2024-01-012024-09-300001115055pnfp:GainLossOnSaleOfFixedAssetsMember2023-01-012023-09-300001115055us-gaap:FinancialServiceOtherMember2024-07-012024-09-300001115055us-gaap:FinancialServiceOtherMember2023-07-012023-09-300001115055us-gaap:FinancialServiceOtherMember2024-01-012024-09-300001115055us-gaap:FinancialServiceOtherMember2023-01-012023-09-300001115055us-gaap:PreferredStockMember2022-12-310001115055us-gaap:CommonStockMember2022-12-310001115055us-gaap:AdditionalPaidInCapitalMember2022-12-310001115055us-gaap:RetainedEarningsMember2022-12-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100011150552022-12-310001115055us-gaap:CommonStockMember2023-01-012023-03-310001115055us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-3100011150552023-01-012023-03-310001115055us-gaap:RetainedEarningsMember2023-01-012023-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001115055us-gaap:PreferredStockMember2023-03-310001115055us-gaap:CommonStockMember2023-03-310001115055us-gaap:AdditionalPaidInCapitalMember2023-03-310001115055us-gaap:RetainedEarningsMember2023-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100011150552023-03-310001115055us-gaap:CommonStockMember2023-04-012023-06-300001115055us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-3000011150552023-04-012023-06-300001115055us-gaap:RetainedEarningsMember2023-04-012023-06-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300001115055us-gaap:PreferredStockMember2023-06-300001115055us-gaap:CommonStockMember2023-06-300001115055us-gaap:AdditionalPaidInCapitalMember2023-06-300001115055us-gaap:RetainedEarningsMember2023-06-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000011150552023-06-300001115055us-gaap:RetainedEarningsMember2023-07-012023-09-300001115055us-gaap:CommonStockMember2023-07-012023-09-300001115055us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001115055us-gaap:PreferredStockMember2023-09-300001115055us-gaap:CommonStockMember2023-09-300001115055us-gaap:AdditionalPaidInCapitalMember2023-09-300001115055us-gaap:RetainedEarningsMember2023-09-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-3000011150552023-09-300001115055us-gaap:PreferredStockMember2023-12-310001115055us-gaap:CommonStockMember2023-12-310001115055us-gaap:AdditionalPaidInCapitalMember2023-12-310001115055us-gaap:RetainedEarningsMember2023-12-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001115055us-gaap:RetainedEarningsMember2024-01-012024-03-3100011150552024-01-012024-03-310001115055us-gaap:CommonStockMember2024-01-012024-03-310001115055us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310001115055us-gaap:PreferredStockMember2024-03-310001115055us-gaap:CommonStockMember2024-03-310001115055us-gaap:AdditionalPaidInCapitalMember2024-03-310001115055us-gaap:RetainedEarningsMember2024-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-3100011150552024-03-310001115055us-gaap:RetainedEarningsMember2024-04-012024-06-3000011150552024-04-012024-06-300001115055us-gaap:CommonStockMember2024-04-012024-06-300001115055us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300001115055us-gaap:PreferredStockMember2024-06-300001115055us-gaap:CommonStockMember2024-06-300001115055us-gaap:AdditionalPaidInCapitalMember2024-06-300001115055us-gaap:RetainedEarningsMember2024-06-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-3000011150552024-06-300001115055us-gaap:RetainedEarningsMember2024-07-012024-09-300001115055us-gaap:CommonStockMember2024-07-012024-09-300001115055us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300001115055us-gaap:PreferredStockMember2024-09-300001115055us-gaap:CommonStockMember2024-09-300001115055us-gaap:AdditionalPaidInCapitalMember2024-09-300001115055us-gaap:RetainedEarningsMember2024-09-300001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300001115055us-gaap:CommercialLoanMember2024-01-012024-09-300001115055us-gaap:CommercialLoanMember2023-01-012023-09-300001115055us-gaap:ConsumerLoanMember2024-01-012024-09-300001115055us-gaap:ConsumerLoanMember2023-01-012023-09-300001115055pnfp:BankersHealthcareGroupLLCMember2024-09-300001115055pnfp:BankersHealthcareGroupLLCMember2024-09-300001115055pnfp:BankersHealthcareGroupLLCMember2023-12-310001115055pnfp:BankersHealthcareGroupLLCMember2024-07-012024-09-300001115055pnfp:BankersHealthcareGroupLLCMember2023-07-012023-09-300001115055pnfp:BankersHealthcareGroupLLCMember2024-01-012024-09-300001115055pnfp:BankersHealthcareGroupLLCMember2023-01-012023-09-300001115055pnfp:BankersHealthcareGroupLLCMember2023-12-310001115055pnfp:BankersHealthcareGroupLLCMember2024-07-012024-09-300001115055pnfp:BankersHealthcareGroupLLCMember2024-01-012024-09-300001115055pnfp:BankersHealthcareGroupLLCMember2023-07-012023-09-300001115055pnfp:BankersHealthcareGroupLLCMember2023-01-012023-09-300001115055us-gaap:USTreasurySecuritiesMember2024-09-300001115055us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-09-300001115055us-gaap:MortgageBackedSecuritiesMember2024-09-300001115055us-gaap:USStatesAndPoliticalSubdivisionsMember2024-09-300001115055us-gaap:AssetBackedSecuritiesMember2024-09-300001115055us-gaap:CorporateDebtSecuritiesMember2024-09-300001115055us-gaap:USTreasurySecuritiesMember2023-12-310001115055us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001115055us-gaap:MortgageBackedSecuritiesMember2023-12-310001115055us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310001115055us-gaap:AssetBackedSecuritiesMember2023-12-310001115055us-gaap:CorporateDebtSecuritiesMember2023-12-3100011150552022-01-012022-03-3100011150552020-01-012020-03-3100011150552018-07-012018-09-3000011150552022-03-3100011150552020-03-3100011150552018-09-300001115055us-gaap:AssetPledgedAsCollateralMember2024-09-300001115055us-gaap:AssetPledgedAsCollateralMember2024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:ResidentialRealEstateMember2023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:SubstandardAccrualMember2024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:SubstandardNonacrrualMember2024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Memberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2023Memberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2022Memberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2021Memberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2020Memberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:PriorMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:SubstandardAccrualMember2024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:SubstandardNonacrrualMember2024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Memberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2023Memberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2022Memberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2021Memberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:A2020Memberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:PriorMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055us-gaap:ResidentialRealEstateMemberus-gaap:PassMember2024-09-300001115055us-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2024-09-300001115055us-gaap:ResidentialRealEstateMemberpnfp:SubstandardAccrualMember2024-09-300001115055us-gaap:ResidentialRealEstateMemberpnfp:SubstandardNonacrrualMember2024-09-300001115055us-gaap:ResidentialRealEstateMemberpnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Memberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:A2023Memberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:A2022Memberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:A2021Memberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:A2020Memberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:PriorMemberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMemberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055us-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberus-gaap:PassMember2024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardAccrualMember2024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Memberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2023Memberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2022Memberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2021Memberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2020Memberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:PriorMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberus-gaap:PassMember2024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberpnfp:SubstandardAccrualMember2024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Memberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2023Memberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2022Memberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2021Memberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2020Memberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:PriorMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2024-09-300001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2024-09-300001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardAccrualMember2024-09-300001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2024-09-300001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Memberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2023Memberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2022Memberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2021Memberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:A2020Memberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:PriorMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055us-gaap:PassMember2024-09-300001115055us-gaap:SpecialMentionMember2024-09-300001115055pnfp:SubstandardAccrualMember2024-09-300001115055pnfp:SubstandardNonacrrualMember2024-09-300001115055pnfp:DoubtfulNonaccrualMember2024-09-300001115055pnfp:A2024Member2024-01-012024-09-300001115055pnfp:A2023Member2024-01-012024-09-300001115055pnfp:A2022Member2024-01-012024-09-300001115055pnfp:A2021Member2024-01-012024-09-300001115055pnfp:A2020Member2024-01-012024-09-300001115055pnfp:PriorMember2024-01-012024-09-300001115055pnfp:RevolvingLoansMember2024-01-012024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2023-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2023-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:SubstandardAccrualMember2023-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:SubstandardNonacrrualMember2023-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:DoubtfulNonaccrualMember2023-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2023-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2023-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:SubstandardAccrualMember2023-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:SubstandardNonacrrualMember2023-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:DoubtfulNonaccrualMember2023-12-310001115055us-gaap:ResidentialRealEstateMemberus-gaap:PassMember2023-12-310001115055us-gaap:ResidentialRealEstateMemberus-gaap:SpecialMentionMember2023-12-310001115055us-gaap:ResidentialRealEstateMemberpnfp:SubstandardAccrualMember2023-12-310001115055us-gaap:ResidentialRealEstateMemberpnfp:SubstandardNonacrrualMember2023-12-310001115055us-gaap:ResidentialRealEstateMemberpnfp:DoubtfulNonaccrualMember2023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberus-gaap:PassMember2023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardAccrualMember2023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2023-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberus-gaap:PassMember2023-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberpnfp:SubstandardAccrualMember2023-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2023-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2023-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2023-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2023-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardAccrualMember2023-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2023-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2023-12-310001115055us-gaap:PassMember2023-12-310001115055us-gaap:SpecialMentionMember2023-12-310001115055pnfp:SubstandardAccrualMember2023-12-310001115055pnfp:SubstandardNonacrrualMember2023-12-310001115055pnfp:DoubtfulNonaccrualMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055us-gaap:FinancialAssetPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055us-gaap:FinancialAssetPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055us-gaap:FinancialAssetPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055us-gaap:FinancialAssetPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001115055us-gaap:FinancialAssetPastDueMember2024-09-300001115055us-gaap:FinancialAssetNotPastDueMember2024-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055us-gaap:FinancialAssetPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:FinancialAssetPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055us-gaap:FinancialAssetPastDueMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055us-gaap:FinancialAssetPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:FinancialAssetPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055us-gaap:FinancialAssetPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001115055us-gaap:FinancialAssetPastDueMember2023-12-310001115055us-gaap:FinancialAssetNotPastDueMember2023-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMember2024-06-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2024-06-300001115055us-gaap:ResidentialRealEstateMember2024-06-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-06-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2024-06-300001115055us-gaap:ConsumerPortfolioSegmentMember2024-06-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2024-07-012024-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2024-07-012024-09-300001115055us-gaap:ResidentialRealEstateMember2024-07-012024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-07-012024-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2024-07-012024-09-300001115055us-gaap:ConsumerPortfolioSegmentMember2024-07-012024-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2023-06-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2023-06-300001115055us-gaap:ResidentialRealEstateMember2023-06-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-06-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2023-06-300001115055us-gaap:ConsumerPortfolioSegmentMember2023-06-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2023-07-012023-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2023-07-012023-09-300001115055us-gaap:ResidentialRealEstateMember2023-07-012023-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-07-012023-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2023-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2023-09-300001115055us-gaap:ResidentialRealEstateMember2023-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2023-09-300001115055us-gaap:ConsumerPortfolioSegmentMember2023-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2022-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2022-12-310001115055us-gaap:ResidentialRealEstateMember2022-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2022-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2022-12-310001115055us-gaap:ConsumerPortfolioSegmentMember2022-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMember2023-01-012023-09-300001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2023-01-012023-09-300001115055us-gaap:ResidentialRealEstateMember2023-01-012023-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-01-012023-09-300001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:RealEstateMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055pnfp:BusinessAssetsMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055pnfp:OtherMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-09-300001115055us-gaap:RealEstateMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055pnfp:BusinessAssetsMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055pnfp:OtherMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-09-300001115055us-gaap:RealEstateMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055pnfp:BusinessAssetsMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055pnfp:OtherMemberus-gaap:ResidentialRealEstateMember2024-09-300001115055us-gaap:RealEstateMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055pnfp:BusinessAssetsMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055pnfp:OtherMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055us-gaap:RealEstateMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055pnfp:BusinessAssetsMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055pnfp:OtherMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-09-300001115055us-gaap:RealEstateMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055pnfp:BusinessAssetsMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055pnfp:OtherMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001115055us-gaap:RealEstateMember2024-09-300001115055pnfp:BusinessAssetsMember2024-09-300001115055pnfp:OtherMember2024-09-300001115055us-gaap:RealEstateMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055pnfp:BusinessAssetsMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055pnfp:OtherMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-12-310001115055us-gaap:RealEstateMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055pnfp:BusinessAssetsMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055pnfp:OtherMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-12-310001115055us-gaap:RealEstateMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055pnfp:BusinessAssetsMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055pnfp:OtherMemberus-gaap:ResidentialRealEstateMember2023-12-310001115055us-gaap:RealEstateMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055pnfp:BusinessAssetsMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055pnfp:OtherMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055us-gaap:RealEstateMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055pnfp:BusinessAssetsMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055pnfp:OtherMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-12-310001115055us-gaap:RealEstateMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055pnfp:BusinessAssetsMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055pnfp:OtherMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001115055us-gaap:RealEstateMember2023-12-310001115055pnfp:BusinessAssetsMember2023-12-310001115055pnfp:OtherMember2023-12-310001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-07-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-07-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberus-gaap:ResidentialRealEstateMember2024-07-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-07-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-07-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMember2024-07-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMember2024-01-012024-09-300001115055us-gaap:PaymentDeferralMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-01-012023-09-300001115055us-gaap:PaymentDeferralMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-01-012023-09-300001115055us-gaap:PaymentDeferralMemberus-gaap:ResidentialRealEstateMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMemberus-gaap:ResidentialRealEstateMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberus-gaap:ResidentialRealEstateMember2023-01-012023-09-300001115055us-gaap:PaymentDeferralMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:PaymentDeferralMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:PaymentDeferralMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001115055us-gaap:PaymentDeferralMember2023-01-012023-09-300001115055us-gaap:ExtendedMaturityMember2023-01-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMember2023-01-012023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ResidentialRealEstateMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialRealEstateMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialRealEstateMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMemberus-gaap:ResidentialRealEstateMember2023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2023-09-300001115055us-gaap:FinancingReceivables30To59DaysPastDueMember2023-09-300001115055us-gaap:FinancingReceivables60To89DaysPastDueMember2023-09-300001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-09-300001115055us-gaap:FinancialAssetNotPastDueMember2023-09-300001115055pnfp:LessorsOfNonresidentialBuildingsMember2024-09-300001115055pnfp:LessorsOfNonresidentialBuildingsMember2023-12-310001115055pnfp:LessorsOfResidentialBuildingsMember2024-09-300001115055pnfp:LessorsOfResidentialBuildingsMember2023-12-310001115055naics:ZZ2361172024-09-300001115055naics:ZZ2361172023-12-310001115055naics:ZZ5122302024-09-300001115055naics:ZZ5122302023-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-09-300001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-12-310001115055pnfp:NonowneroccupiedcommercialrealestateandmultifamilyloansMember2024-09-300001115055pnfp:NonowneroccupiedcommercialrealestateandmultifamilyloansMember2023-12-310001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:CommercialRealEstateOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2024-01-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberus-gaap:ResidentialRealEstateMember2024-01-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2024-01-012024-09-300001115055pnfp:CombinationExtendedMaturityContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001115055us-gaap:PaymentDeferralMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:CommercialRealEstateOwnerOccupiedMember2023-07-012023-09-300001115055us-gaap:PaymentDeferralMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2023-07-012023-09-300001115055us-gaap:PaymentDeferralMemberus-gaap:ResidentialRealEstateMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMemberus-gaap:ResidentialRealEstateMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberus-gaap:ResidentialRealEstateMember2023-07-012023-09-300001115055us-gaap:PaymentDeferralMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:PaymentDeferralMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:PaymentDeferralMemberus-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001115055us-gaap:PaymentDeferralMember2023-07-012023-09-300001115055us-gaap:ExtendedMaturityMember2023-07-012023-09-300001115055pnfp:CombinationPaymentDeferralExtendedMaturityAndContractualInterestRateReductionMember2023-07-012023-09-300001115055us-gaap:CommitmentsToExtendCreditMember2024-09-300001115055us-gaap:HomeEquityMember2024-09-300001115055us-gaap:StandbyLettersOfCreditMember2024-01-012024-09-300001115055us-gaap:StandbyLettersOfCreditMember2024-09-300001115055us-gaap:StandbyLettersOfCreditMember2023-12-310001115055pnfp:A2018PlanMember2024-09-300001115055pnfp:A2018EquityIncentivePlanMember2024-09-300001115055us-gaap:RestrictedStockMember2023-12-310001115055us-gaap:RestrictedStockMember2024-01-012024-09-300001115055us-gaap:RestrictedStockMember2024-09-300001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMembersrt:MaximumMember2024-01-012024-09-300001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMember2024-01-012024-09-300001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMember2024-09-300001115055pnfp:OutsideDirectorAwardsMembersrt:DirectorMember2024-01-012024-09-300001115055pnfp:OutsideDirectorAwardsMembersrt:DirectorMember2024-09-300001115055pnfp:RestrictedStockUnitsMember2023-12-310001115055pnfp:RestrictedStockUnitsMember2024-01-012024-09-300001115055pnfp:RestrictedStockUnitsMember2024-09-300001115055pnfp:A2024RestrictedStockUnitsMember2024-01-012024-09-300001115055pnfp:A2024RestrictedStockUnitsMember2024-09-300001115055pnfp:A2024PerformanceUnitAwardMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2024-01-012024-09-300001115055pnfp:A2024PerformanceUnitAwardMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2024-01-012024-09-300001115055pnfp:A2024PerformanceUnitAwardMemberpnfp:LeadershipTeamMember2024-01-012024-09-300001115055pnfp:A2024PerformanceUnitAwardMemberpnfp:Tranche20242026Member2024-01-012024-09-300001115055pnfp:A2023PerformanceUnitAwardsMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2024-01-012024-09-300001115055pnfp:A2023PerformanceUnitAwardsMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2024-01-012024-09-300001115055pnfp:A2023PerformanceUnitAwardsMemberpnfp:LeadershipTeamMember2024-01-012024-09-300001115055pnfp:A2023PerformanceUnitAwardsMemberpnfp:Tranche20232025Member2024-01-012024-09-300001115055pnfp:A2022PerformanceUnitAwardsMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2024-01-012024-09-300001115055pnfp:A2022PerformanceUnitAwardsMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2024-01-012024-09-300001115055pnfp:A2022PerformanceUnitAwardsMemberpnfp:LeadershipTeamMember2024-01-012024-09-300001115055pnfp:A2022PerformanceUnitAwardsMemberpnfp:Tranche20222024Member2024-01-012024-09-300001115055pnfp:A2022SpecialPerformanceUnitAwardMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2024-01-012024-09-300001115055pnfp:A2022SpecialPerformanceUnitAwardMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2024-01-012024-09-300001115055pnfp:A2022SpecialPerformanceUnitAwardMemberpnfp:LeadershipTeamMember2024-01-012024-09-300001115055pnfp:A2022SpecialPerformanceUnitAwardMemberpnfp:Tranche20222024Member2024-01-012024-09-300001115055pnfp:A2020PerformanceUnitAwardMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2024-01-012024-09-300001115055pnfp:A2020PerformanceUnitAwardMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2024-01-012024-09-300001115055pnfp:A2020PerformanceUnitAwardMemberpnfp:LeadershipTeamMember2024-01-012024-09-300001115055pnfp:A2020PerformanceUnitAwardMemberpnfp:Tranche2020Member2024-01-012024-09-300001115055pnfp:A2020PerformanceUnitAwardMemberpnfp:Tranche2021Member2024-01-012024-09-300001115055pnfp:A2020PerformanceUnitAwardMemberpnfp:Tranche2022Member2024-01-012024-09-300001115055pnfp:PerformanceUnitAwardsMember2024-01-012024-09-300001115055pnfp:PerformanceUnitAwardsMember2023-01-012023-09-300001115055pnfp:PayFixedAndReceiveVariableSwapsMemberus-gaap:NondesignatedMember2024-09-300001115055pnfp:PayFixedAndReceiveVariableSwapsMemberus-gaap:NondesignatedMember2023-12-310001115055pnfp:PayVariableAndReceiveFixedSwapsMemberus-gaap:NondesignatedMember2024-09-300001115055pnfp:PayVariableAndReceiveFixedSwapsMemberus-gaap:NondesignatedMember2023-12-310001115055us-gaap:NondesignatedMember2024-09-300001115055us-gaap:NondesignatedMember2023-12-310001115055us-gaap:NondesignatedMember2024-07-012024-09-300001115055us-gaap:NondesignatedMember2023-07-012023-09-300001115055us-gaap:NondesignatedMember2024-01-012024-09-300001115055us-gaap:NondesignatedMember2023-01-012023-09-300001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2024-06-280001115055us-gaap:CreditDefaultSwapMemberus-gaap:ResidentialRealEstateMember2024-06-280001115055us-gaap:CreditDefaultSwapBuyingProtectionMember2024-09-300001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2024-09-300001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2023-12-310001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2024-07-012024-09-300001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2023-07-012023-09-300001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2024-01-012024-09-300001115055us-gaap:CreditDefaultSwapMemberus-gaap:NondesignatedMember2023-01-012023-09-300001115055us-gaap:AssetsMemberus-gaap:InterestRateFloorMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:AssetsMemberus-gaap:InterestRateFloorMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:AssetsMemberus-gaap:InterestRateFloorMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:AssetsMemberus-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:AssetsMemberus-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:AssetsMemberus-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:AssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:AssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:AssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-07-012024-09-300001115055us-gaap:AssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-07-012023-09-300001115055us-gaap:AssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:AssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:SecuritiesInvestmentMemberus-gaap:LiabilityMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:LiabilityMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:LiabilityMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:LiabilityMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:LiabilityMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:LiabilityMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpnfp:FederalFundsRateMember2024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberpnfp:SecuredOvernightFinancingRateMember2024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-07-012024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-07-012023-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-07-012024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-07-012023-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001115055us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001115055us-gaap:LoansMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-07-012024-09-300001115055us-gaap:LoansMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-01-012024-09-300001115055us-gaap:LoansMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-07-012023-09-300001115055us-gaap:LoansMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-01-012023-09-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:AssetsMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-04-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-04-012022-04-300001115055us-gaap:SecuritiesInvestmentMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-04-300001115055us-gaap:FairValueMeasurementsRecurringMember2024-09-300001115055us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001115055us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001115055us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-09-300001115055us-gaap:FairValueMeasurementsRecurringMember2023-12-310001115055us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001115055us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001115055us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310001115055us-gaap:FairValueMeasurementsNonrecurringMember2024-09-300001115055us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-09-300001115055us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-09-300001115055us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-09-300001115055us-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001115055us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001115055us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001115055us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310001115055us-gaap:AvailableforsaleSecuritiesMember2024-01-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2024-01-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2024-06-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2024-06-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ServicingContractsMember2024-06-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2023-06-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2023-06-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2023-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2023-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ServicingContractsMember2023-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2022-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2022-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2024-07-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2024-07-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ServicingContractsMember2024-07-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2023-07-012023-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2023-07-012023-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2024-01-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ServicingContractsMember2024-01-012024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2023-01-012023-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2023-01-012023-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ServicingContractsMember2024-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AvailableforsaleSecuritiesMember2023-09-300001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2023-09-300001115055us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-09-300001115055us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300001115055us-gaap:FairValueInputsLevel1Member2024-09-300001115055us-gaap:FairValueInputsLevel2Member2024-09-300001115055us-gaap:FairValueInputsLevel3Member2024-09-300001115055us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001115055us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001115055us-gaap:FairValueInputsLevel1Member2023-12-310001115055us-gaap:FairValueInputsLevel2Member2023-12-310001115055us-gaap:FairValueInputsLevel3Member2023-12-310001115055srt:SubsidiariesMember2024-01-012024-09-300001115055srt:SubsidiariesMember2024-09-3000011150552021-12-3100011150552020-04-012020-06-300001115055srt:ParentCompanyMember2024-09-300001115055srt:ParentCompanyMember2023-12-310001115055srt:SubsidiariesMember2023-12-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionOneMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionOneMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionTwoMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionTwoMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionThreeMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionThreeMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionFourMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionFourMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionFiveMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionFiveMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSixMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSixMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSevenMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSevenMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionEightMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionEightMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionNineMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionNineMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTenMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTenMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionElevenMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionElevenMember2024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTwelveMember2024-01-012024-09-300001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTwelveMember2024-09-300001115055pnfp:PinnacleFinancialNotes2019Member2024-01-012024-09-300001115055pnfp:PinnacleFinancialNotes2019Member2024-09-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q
(mark one)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2024
or
TRANSITION REPORT PURSUANT TO SECTION 13 OF 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the transition period from ____ to ____
Commission File Number: 001-39309
Pinnacle Financial Partners Inc.
pnfplogoa25.jpg, Inc.
(Exact name of registrant as specified in its charter)
Tennessee 62-1812853
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
150 Third Avenue South, Suite 900Nashville,TN 37201
(Address of principal executive offices) (Zip Code)
(615) 744-3700
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changes since last report)


Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of Each ClassTrading SymbolName of Exchange on which Registered
Common Stock, par value $1.00PNFPThe Nasdaq Stock Market LLC
Depositary Shares (each representing 1/40th interest in a share of 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B)PNFPPThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes      No     

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for shorter period that the registrant was required to submit such files).  Yes      No     

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer", "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.  (Check one):

Large Accelerated Filer                            Accelerated Filer     
Non-accelerated Filer                              Smaller reporting company
(do not check if you are a smaller reporting company)                Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).     Yes      No     

As of October 31, 2024 there were 77,245,150 shares of common stock, $1.00 par value per share, issued and outstanding.


Pinnacle Financial Partners, Inc.
Report on Form 10-Q
September 30, 2024

2

FORWARD-LOOKING STATEMENTS

All statements, other than statements of historical fact, included in this report, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "aims," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of persistent elevated interest rates, the negative impact of inflationary pressures and challenging economic conditions on our and BHG's customers and their businesses, resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) the sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs; (iv) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout the Southeast region of the United States, particularly in commercial and residential real estate markets; (v) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vi) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits or uncertainty exists in the financial services sector; (vii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (viii) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (ix) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’s results, including as a result of the negative impact to net interest margin from elevated deposit and other funding costs; (x) the results of regulatory examinations of Pinnacle Financial, Pinnacle Bank or BHG, or companies with whom they do business; (xi) BHG's ability to profitably grow its business and successfully execute on its business plans; (xii) risks of expansion into new geographic or product markets; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xiv) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xv) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xvi) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xvii) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xviii) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xix) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xx) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxi) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xxii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xxiii) the risks associated with Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Bank); (xxiv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxv) fluctuations in the valuations of Pinnacle Financial's equity investments and the ultimate success of such investments; (xxvi) the availability of and access to capital; (xxvii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions involving Pinnacle Financial, Pinnacle Bank or BHG; and (xxviii) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements included in this report can be found in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2023, subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this report, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.
3

Item 1.Part I. Financial Information

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(dollars in thousands, except per share data)September 30, 2024December 31, 2023
ASSETS  
Cash and noninterest-bearing due from banks$276,578 $228,620 
Restricted cash 193,758 86,873 
Interest-bearing due from banks2,362,828 1,914,856 
Cash and cash equivalents2,833,164 2,230,349 
Securities purchased with agreement to resell66,480 558,009 
Securities available-for-sale, at fair value5,390,988 4,317,530 
Securities held-to-maturity (fair value of $2.7 billion and $2.8 billion, net of allowance for credit losses of $1.7 million and $1.7 million at Sept. 30, 2024 and Dec. 31, 2023, respectively)2,902,253 3,006,357 
Consumer loans held-for-sale178,600 104,217 
Commercial loans held-for-sale8,617 9,280 
Loans34,308,310 32,676,091 
Less allowance for credit losses(391,534)(353,055)
Loans, net33,916,776 32,323,036 
Premises and equipment, net295,348 256,877 
Equity method investment424,637 445,223 
Accrued interest receivable226,178 217,491 
Goodwill1,846,973 1,846,973 
Core deposits and other intangible assets22,755 27,465 
Other real estate owned750 3,937 
Other assets2,588,369 2,613,139 
Total assets$50,701,888 $47,959,883 
LIABILITIES AND SHAREHOLDERS' EQUITY  
Deposits:  
Noninterest-bearing$8,229,394 $7,906,502 
Interest-bearing12,615,993 11,365,349 
Savings and money market accounts15,188,270 14,427,206 
Time4,921,231 4,840,753 
Total deposits40,954,888 38,539,810 
Securities sold under agreements to repurchase209,956 209,489 
Federal Home Loan Bank advances2,146,395 2,138,169 
Subordinated debt and other borrowings425,600 424,938 
Accrued interest payable59,285 66,967 
Other liabilities561,506 544,722 
Total liabilities44,357,630 41,924,095 
Shareholders' equity:  
Preferred stock, no par value, 10.0 million shares authorized; 225,000 shares non-cumulative perpetual preferred stock, Series B, liquidation preference $225.0 million, issued and outstanding at Sept. 30, 2024 and Dec. 31, 2023, respectively217,126 217,126 
Common stock, par value $1.00; 180.0 million shares authorized; 77.2 million and 76.8 million shares issued and outstanding at Sept. 30, 2024 and Dec. 31, 2023, respectively77,232 76,767 
Additional paid-in capital3,120,842 3,109,493 
Retained earnings3,045,571 2,784,927 
Accumulated other comprehensive loss, net of taxes(116,513)(152,525)
Total shareholders' equity6,344,258 6,035,788 
Total liabilities and shareholders' equity$50,701,888 $47,959,883 
See accompanying notes to consolidated financial statements (unaudited).
4

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(dollars in thousands, except per share data)Three months ended
September 30,
Nine months ended
September 30,
 2024202320242023
Interest income:  
Loans, including fees$570,489 $508,963 $1,663,347 $1,419,761 
Securities:  
Taxable65,776 36,525 161,824 97,850 
Tax-exempt23,860 24,185 72,832 72,590 
Federal funds sold and other34,740 57,621 115,735 118,371 
Total interest income694,865 627,294 2,013,738 1,708,572 
Interest expense:  
Deposits310,527 280,305 915,944 685,562 
Securities sold under agreements to repurchase1,495 1,071 4,210 2,449 
Federal Home Loan Bank advances and other borrowings31,339 28,676 91,784 75,695 
Total interest expense343,361 310,052 1,011,938 763,706 
Net interest income351,504 317,242 1,001,800 944,866 
Provision for credit losses26,281 26,826 90,937 77,282 
Net interest income after provision for credit losses325,223 290,416 910,863 867,584 
Noninterest income:  
Service charges on deposit accounts16,217 12,665 44,219 36,563 
Investment services17,868 13,253 48,339 39,022 
Insurance sales commissions3,286 2,882 10,853 10,598 
Gain on mortgage loans sold, net2,643 2,012 8,792 5,632 
Investment losses on sales, net (9,727)(72,103)(19,688)
Trust fees8,383 6,640 24,121 19,696 
Income from equity method investment16,379 24,967 51,102 70,970 
Gain on sale of fixed assets1,837 87 2,220 85,946 
Other noninterest income48,629 38,018 142,090 105,426 
Total noninterest income115,242 90,797 259,633 354,165 
Noninterest expense:  
Salaries and employee benefits160,234 130,344 456,361 398,495 
Equipment and occupancy42,564 36,900 123,246 100,959 
Other real estate expense, net56 33 162 190 
Marketing and other business development5,599 5,479 18,500 17,085 
Postage and supplies2,965 2,621 8,871 8,303 
Amortization of intangibles1,558 1,765 4,710 5,339 
Other noninterest expense46,343 36,091 161,223 106,230 
Total noninterest expense259,319 213,233 773,073 636,601 
Income before income taxes181,146 167,980 397,423 585,148 
Income tax expense34,455 35,377 73,626 117,975 
Net income146,691 132,603 323,797 467,173 
Preferred stock dividends(3,798)(3,798)(11,394)(11,394)
Net income available to common shareholders$142,893 $128,805 $312,403 $455,779 
Per share information:  
Basic net income per common share$1.87 $1.69 $4.09 $6.00 
Diluted net income per common share$1.86 $1.69 $4.08 $5.99 
Weighted average common shares outstanding:  
Basic76,520,599 76,044,182 76,435,370 75,998,965 
Diluted76,765,586 76,201,916 76,606,329 76,102,622 

See accompanying notes to consolidated financial statements (unaudited).
5

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)

(dollars in thousands)Three months ended
September 30,
Nine months ended
September 30,
 2024202320242023
Net income$146,691 $132,603 $323,797 $467,173 
Other comprehensive gain (loss), net of tax:  
Change in fair value on available-for-sale securities, net of tax13,627 (113,305)(7,723)(81,899)
Change in fair value of cash flow hedges, net of tax24,430 (17,403)1,287 (28,764)
Accretion of net unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax(1,546)(1,597)(4,462)(5,999)
Net gain on cash flow hedges reclassified from other comprehensive income into net income, net of tax(2,433)(2,473)(7,378)(7,217)
Net loss on sale of investment securities reclassified from other comprehensive income into net income, net of tax 7,293 54,288 14,766 
Total other comprehensive gain (loss), net of tax34,078 (127,485)36,012 (109,113)
Total comprehensive income$180,769 $5,118 $359,809 $358,060 

See accompanying notes to consolidated financial statements (unaudited).
6

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(Unaudited)
(dollars and shares in thousands)Preferred
Stock
 Amount
Common StockAdditional Paid-in CapitalRetained EarningsAccumulated Other Comp. Income (Loss), netTotal Shareholders' Equity
 SharesAmounts
Balance at December 31, 2022$217,126 76,454 $76,454 $3,074,867 $2,341,706 $(190,761)$5,519,392 
Exercise of employee common stock options & related tax benefits— 40 40 920 — — 960 
Preferred dividends paid ($16.88 per share)— — — — (3,798)— (3,798)
Common dividends paid ($0.22 per share)— — — — (17,173)— (17,173)
Issuance of restricted common shares, net of forfeitures— 193 193 (193)— —  
Restricted shares withheld for taxes & related tax benefits— (41)(41)(3,035)— — (3,076)
Issuance of common stock pursuant to restricted stock unit (RSU) and performance stock unit (PSU) agreements, net of shares withheld for taxes & related tax benefits— 93 93 (3,738)— — (3,645)
Compensation expense for restricted share awards, RSUs and PSUs — — — 10,199 — — 10,199 
Net income— — — — 137,271 — 137,271 
Other comprehensive income— — — — — 43,998 43,998 
Balance at March 31, 2023$217,126 76,739 $76,739 $3,079,020 $2,458,006 $(146,763)$5,684,128 
Exercise of employee common stock options & related tax benefits—   11 — — 11 
Preferred dividends paid ($16.88 per share)— — — — (3,798)— (3,798)
Common dividends paid ($0.22 per share)— — — — (17,192)— (17,192)
Issuance of restricted common shares, net of forfeitures— 7 7 (7)— —  
Restricted shares withheld for taxes & related tax benefits— (6)(6)(310)— — (316)
Compensation expense for restricted share awards, RSUs and PSUs— — — 9,253 — — 9,253 
Net income— — — — 197,299 — 197,299 
Other comprehensive loss— — — — — (25,626)(25,626)
Balance at June 30, 2023$217,126 76,740 $76,740 $3,087,967 $2,634,315 $(172,389)$5,843,759 
Preferred dividends paid ($16.88 per share)— — — — (3,798)— (3,798)
Common dividends paid ($0.22 per share)— — — — (17,186)— (17,186)
Issuance of restricted common shares, net of forfeitures— 19 19 (19)— —  
Restricted shares withheld for taxes & related tax benefits— (6)(6)(367)— — (373)
Compensation expense for restricted share awards, RSUs and PSUs— — — 10,121 — — 10,121 
Net income— — — — 132,603 — 132,603 
Other comprehensive loss— — — — — (127,485)(127,485)
Balance at September 30, 2023$217,126 76,753 $76,753 $3,097,702 $2,745,934 $(299,874)$5,837,641 

7

 Preferred Stock
 Amount
Common Stock Accumulated Other Comp. Income (Loss), netTotal Shareholders' Equity
 SharesAmountsAdditional Paid-in CapitalRetained Earnings
Balance at December 31, 2023$217,126 76,767 $76,767 $3,109,493 $2,784,927 $(152,525)$6,035,788 
Preferred dividends paid ($16.88 per share) — — — — (3,798)— (3,798)
Common dividends paid ($0.22 per share)— — — — (17,269)— (17,269)
Issuance of restricted common shares, net of forfeitures— 190 190 (190)— —  
Restricted shares withheld for taxes & related tax benefits— (49)(49)(4,088)— — (4,137)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes & related tax benefits— 311 311 (14,738)— — (14,427)
Compensation expense for restricted share awards, RSUs and PSUs— — — 10,340 — — 10,340 
Net income— — — — 123,944 — 123,944 
Other comprehensive loss— — — — — (26,590)(26,590)
Balance at March 31, 2024$217,126 77,219 $77,219 $3,100,817 $2,887,804 $(179,115)$6,103,851 
Preferred dividends paid ($16.88 per share)— — — (3,798)— (3,798)
Common dividends paid ($0.22 per share)— — — (17,245)— (17,245)
Issuance of restricted common shares, net of forfeitures— 4 4 (4)— —  
Restricted shares withheld for taxes & related tax benefits— (6)(6)(441)— — (447)
Compensation expense for restricted share awards, RSUs and PSUs— — 10,621 — — 10,621 
Net income— — — 53,162 — 53,162 
Other comprehensive income— — — — 28,524 28,524 
Balance at June 30, 2024$217,126 77,217 $77,217 $3,110,993 $2,919,923 $(150,591)$6,174,668 
Preferred dividends paid ($16.88 per share)— — — — (3,798)— (3,798)
Common dividends paid ($0.22 per share)— — — — (17,245)— (17,245)
Issuance of restricted common shares, net of forfeitures— 21 21 (21)— —  
Restricted shares withheld for taxes & related tax benefits— (6)(6)(571)— — (577)
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes & related tax benefits —   (3)— — (3)
Compensation expense for restricted share awards, RSUs and PSUs— — — 10,444 — — 10,444 
Net income— — — — 146,691 — 146,691 
Other comprehensive income— — — — — 34,078 34,078 
Balance at September 30, 2024$217,126 77,232 $77,232 $3,120,842 $3,045,571 $(116,513)$6,344,258 

See accompanying notes to consolidated financial statements (unaudited).
8

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(dollars in thousands)Nine months ended
September 30,
 20242023
Operating activities:  
Net income$323,797 $467,173 
Adjustments to reconcile net income to net cash provided by operating activities:  
Net amortization/accretion of premium/discount on securities38,956 44,635 
Depreciation, amortization and accretion72,677 59,417 
Provision for credit losses90,937 77,282 
Gain on mortgage loans sold, net(8,792)(5,632)
Investment losses on sales, net72,103 19,688 
Gain on other equity investments, net(12,375)(9,512)
Stock-based compensation expense31,405 29,573 
Deferred tax expense (benefit)(9,387)11,891 
Losses on dispositions of other real estate and other investments95 82 
Gain on sale of fixed assets(2,220)(85,946)
Income from equity method investment(51,102)(70,970)
  Dividends received from equity method investment71,689 33,159 
Excess tax benefit from stock compensation(2,646)(241)
Gain on commercial loans sold, net(655)(408)
Commercial loans held for sale originated(163,750)(315,209)
Commercial loans held for sale sold165,067 316,198 
Consumer loans held for sale originated(1,815,736)(1,294,384)
Consumer loans held for sale sold1,750,146 1,222,764 
Increase in other assets(138,818)(189,302)
Increase (decrease) in other liabilities(7,030)61,005 
Net cash provided by operating activities404,361 371,263 
Investing activities:  
Activities in securities available-for-sale:  
Purchases(2,088,271)(914,989)
Sales822,741 303,145 
Maturities, prepayments and calls240,209 108,371 
Activities in securities held-to-maturity:  
Maturities, prepayments and calls82,283 38,677 
Net decrease in securities purchased under agreements to resell491,529 13,276 
Increase in loans, net(1,728,915)(3,062,357)
Proceeds from sale of loans30,715 117,216 
Purchases of software, premises and equipment(69,542)(61,870)
Proceeds from sales of software, premises and equipment5,819 198,414 
Proceeds from sale of other real estate3,527 5,749 
Proceeds from bank owned life insurance settlements4,160 3,221 
Proceeds from bank owned life insurance surrender141,308  
Proceeds from sale (purchase) of FHLB stock, net276 (36,722)
Increase in other investments, net(74,565)(49,750)
Net cash used in investing activities(2,138,726)(3,337,619)
Financing activities:  
Net increase in deposits2,415,102 3,334,595 
Net increase in securities sold under agreements to repurchase467 1,089 
Federal Home Loan Bank: Advances454,650 3,425,000 
Federal Home Loan Bank: Repayments/maturities(450,009)(1,750,000)
Principal payments of finance lease obligation(286)(224)
Issuance of common stock pursuant to RSA, RSU and PSU agreements, net of shares withheld for taxes(5,161)(3,645)
Exercise of common stock options, net of shares surrendered for taxes(14,430)(2,794)
Common stock dividends paid(51,759)(51,551)
Preferred stock dividends paid(11,394)(11,394)
Net cash provided by financing activities2,337,180 4,941,076 
Net increase in cash, cash equivalents, and restricted cash602,815 1,974,720 
Cash, cash equivalents, and restricted cash, beginning of period2,230,349 1,177,382 
Cash, cash equivalents, and restricted cash, end of period$2,833,164 $3,152,102 
See accompanying notes to consolidated financial statements (unaudited).
9

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Note 1. Summary of Significant Accounting Policies

Nature of Business — Pinnacle Financial Partners, Inc. (Pinnacle Financial) is a financial holding company whose primary business is conducted by its wholly-owned subsidiary, Pinnacle Bank. Pinnacle Bank is a commercial bank headquartered in Nashville, Tennessee. Pinnacle Financial completed its acquisitions of CapitalMark Bank & Trust (CapitalMark), Magna Bank (Magna), Avenue Financial Holdings, Inc. (Avenue) and BNC Bancorp (BNC) on July 31, 2015, September 1, 2015, July 1, 2016 and June 16, 2017, respectively. Pinnacle Bank completed its acquisitions of Advocate Capital, Inc. (Advocate Capital) and JB&B Capital, LLC (JB&B) on July 2, 2019 and March 1, 2022, respectively. Pinnacle Bank also holds a 49% interest in Bankers Healthcare Group, LLC (BHG), a company that primarily serves as a full-service commercial loan provider to healthcare providers and other skilled professionals for business purposes but also makes consumer loans for various purposes. Pinnacle Bank provides a full range of banking services, including investment, mortgage, insurance, and comprehensive wealth management services, in several primarily urban markets and their surrounding communities.

Basis of Presentation — The accompanying unaudited consolidated financial statements have been prepared in accordance with instructions to Form 10-Q and therefore do not include all information and footnotes necessary for a fair presentation of financial position, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (U.S. GAAP). All adjustments consisting of normally recurring accruals that, in the opinion of management, are necessary for a fair presentation of the financial position and results of operations for the periods covered by the report have been included. The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes appearing in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2023 (2023 10-K).

These unaudited consolidated financial statements include the accounts of Pinnacle Financial and its wholly-owned subsidiaries. Certain statutory trust affiliates of Pinnacle Financial, as noted in Note 12. Other Borrowings, are included in these unaudited consolidated financial statements pursuant to the equity method of accounting. Significant intercompany transactions and accounts are eliminated in consolidation.

Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for credit losses and determination of any impairment of goodwill or intangible assets. It is reasonably possible Pinnacle Financial's estimate of the allowance for credit losses and determination of impairment of goodwill or intangible assets could change as a result of the uncertainty in current macroeconomic conditions. The resulting change in these estimates could be material to Pinnacle Financial's consolidated financial statements.

Mortgage Servicing Rights On March 31, 2024, Pinnacle Financial recognized a mortgage servicing asset totaling $11.8 million related to a commercial mortgage loan portfolio. Upon the sale of these commercial loans, the rights to service loans (MSRs) are capitalized and represent the fair value of future net servicing fees from servicing activities associated with these commercial mortgage loans. Pinnacle Financial has elected to account for this class of MSRs under the fair value measurement method. Under this method, capitalized MSRs are recorded in other assets in the accompanying consolidated balance sheet with changes in the fair value of the MSRs for each period presented recorded in other noninterest income in the accompanying consolidated statement of income.

MSRs are recorded at fair value utilizing a number of assumptions, including prepayment speeds, interest rates, discount rates and other economic factors. Changes in the underlying assumptions could materially affect the fair value of MSRs. The value of servicing rights is initially measured using a discounted cash flow model. All servicing rights capitalized have involved the retention of servicing rights only; Pinnacle Financial does not retain residual interest, "first loss" obligations, or other similar on-going financial interests in the loans it sells to third parties, nor has Pinnacle Financial participated in any securitizations with any special purpose entities with respect to these MSRs.

Except for recovery of amounts invested in acquiring servicing rights, servicing mortgage loans for others does not generally impose significant financial risks to the servicer. There are, however, certain investors for whom servicing does involve some risk of loss. For example, servicing Federal Housing Administration insured or Veterans Administration guaranteed loans can result in the
10

servicer advancing principal and interest payments for delinquent borrowers, or incurring a shortfall in the total amount of principal collected under certain foreclosure circumstances.

Cash Flow Information — Supplemental cash flow information addressing certain cash and noncash transactions for the nine months ended September 30, 2024 and 2023 was as follows (in thousands):
 For the nine months ended
September 30,
 20242023
Cash Transactions:  
Interest paid$1,018,706 $714,827 
Income taxes paid, net30,047 96,698 
Operating lease payments28,444 22,648
Noncash Transactions:  
Loans charged-off to the allowance for credit losses72,773 57,616 
Loans foreclosed upon and transferred to other real estate owned435 435 
Loans foreclosed upon and transferred to other assets197 561 
Right-of-use asset recognized during the period in exchange for lease obligations24,064 195,995 

Income Per Common Share — Basic net income per common share (EPS) is computed by dividing net income available to common shareholders by the weighted average common shares outstanding for the period. Diluted EPS reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted. The difference between basic and diluted weighted average common shares outstanding is attributable to common stock options, restricted share awards, and restricted share unit awards, including those with performance-based vesting provisions. The dilutive effect of outstanding options, restricted share awards, and restricted share unit awards is reflected in diluted EPS by application of the treasury stock method.

The following is a summary of the basic and diluted net income per common share calculations for the three and nine months ended September 30, 2024 and 2023 (in thousands, except per share data):
 Three months ended
September 30,
Nine months ended
September 30,
 2024202320242023
Basic net income per common share calculation:  
Numerator - Net income available to common shareholders
$142,893 $128,805 $312,403 $455,779 
Denominator - Weighted average common shares outstanding
76,521 76,044 76,435 75,999 
Basic net income per common share$1.87 $1.69 $4.09 $6.00 
Diluted net income per common share calculation:  
Numerator - Net income available to common shareholders
$142,893 $128,805 $312,403 $455,779 
Denominator - Weighted average common shares outstanding
76,521 76,044 76,435 75,999 
Dilutive common shares contingently issuable245 158 171 104 
Weighted average diluted common shares outstanding76,766 76,202 76,606 76,103 
Diluted net income per common share$1.86 $1.69 $4.08 $5.99 

Recently Adopted Accounting Pronouncements  In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, and has issued subsequent amendments thereto, which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Interbank Offered Rate (LIBOR) or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance was initially effective for all entities as of March 12, 2020 through December 31, 2022. In December 2022, the FASB issued an update to Accounting Standards Update 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting with Accounting Standards Update 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which updated the effective date to be March 12, 2020 through December 31, 2024. Pinnacle Financial implemented a transition plan to identify and
11

convert its loans and other financial instruments, including certain indebtedness, with attributes that are either directly or indirectly influenced by LIBOR. Pinnacle Financial has moved substantially all of its LIBOR-based loans to its preferred replacement index, a Secured Overnight Financing Rate (SOFR) based index as of September 30, 2024. For Pinnacle Financial's currently outstanding LIBOR-based loans, the timing and manner in which each customer's interest rate transitions to a replacement index will vary on a case-by-case basis and should occur at the next repricing date for these loans.

In June 2022, the FASB issued Accounting Standards Update 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance in ASC 820 when measuring the fair value of equity securities subject to contractual restrictions that prohibit the sale of an equity security. This update also requires specific disclosures related to these types of securities. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. Pinnacle Financial adopted ASU 2022-03 on January 1, 2024 and it did not have a material impact on Pinnacle Financial's accounting or disclosures.

In March 2023, the FASB issued Accounting Standards Update 2023-02, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method, which permits the use of the proportional amortization method of accounting for tax equity investments if certain conditions are met. A reporting entity makes the accounting policy election to apply the proportional amortization method on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity or individual investment level. The amendments require specific disclosures that must be applied to all investments that generate tax credits and other income tax benefits from a tax credit program for which the entity has elected to apply the proportional amortization method. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. Pinnacle Financial adopted ASU 2023-02 on January 1, 2024 and it did not have a material impact on Pinnacle Financial's accounting or disclosures.

Newly Issued Not Yet Effective Accounting Standards — In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which amends the guidance for income tax disclosures to include certain required disclosures related to tax rate reconciliations, including certain categories of expense requiring disclosure, income taxes paid, including disclosure of taxes paid disaggregated by nation, state, and foreign taxes, and other disclosures for disaggregation of income before income tax expense (or benefit) and income tax expense (or benefit) by domestic and foreign allocation. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024. Early adoption is permitted. An entity should apply ASU 2023-09 on a prospective basis once adopted with retrospective application permitted. Pinnacle Financial is assessing ASU 2023-09 and its potential impact on its accounting and disclosures.

Other than those pronouncements discussed above and those which have been recently adopted, Pinnacle Financial does not believe there were any other recently issued accounting pronouncements that may materially impact its consolidated financial statements.

Subsequent Events — ASC Topic 855, Subsequent Events, establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued. Pinnacle Financial evaluated all events or transactions that occurred after September 30, 2024 through the date of the issued financial statements with no subsequent events being noted as of the date of this filing.

Note 2. Equity method investment

A summary of BHG's financial position as of September 30, 2024 and December 31, 2023 and results of operations as of and for the three and nine months ended September 30, 2024 and 2023, were as follows (in thousands):
 As of
 September 30, 2024December 31, 2023
Assets$3,737,126 $4,304,835 
Liabilities3,224,579 3,749,821 
Equity interests512,547 555,014 
Total liabilities and equity$3,737,126 $4,304,835 
12