Company Quick10K Filing
Pinnacle Financial Partners
Price56.68 EPS5
Shares77 P/E11
MCap4,351 P/FCF14
Net Debt0 EBIT702
TEV4,351 TEV/EBIT6
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-05-08
10-K 2019-12-31 Filed 2020-02-25
10-Q 2019-09-30 Filed 2019-11-01
10-Q 2019-06-30 Filed 2019-08-02
10-Q 2019-03-31 Filed 2019-05-03
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-02
10-Q 2018-06-30 Filed 2018-08-03
10-Q 2018-03-31 Filed 2018-05-07
10-K 2017-12-31 Filed 2018-02-28
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-06-30 Filed 2017-08-04
10-Q 2017-03-31 Filed 2017-05-05
10-K 2016-12-31 Filed 2017-02-27
10-Q 2016-09-30 Filed 2016-11-04
10-Q 2016-06-30 Filed 2016-08-05
10-Q 2016-03-31 Filed 2016-05-06
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-07
10-Q 2015-03-31 Filed 2015-05-08
10-K 2014-12-31 Filed 2015-02-25
10-Q 2014-09-30 Filed 2014-11-07
10-Q 2014-06-30 Filed 2014-08-01
10-Q 2014-03-31 Filed 2014-05-02
10-K 2013-12-31 Filed 2014-02-25
10-Q 2013-09-30 Filed 2013-11-01
10-Q 2013-06-30 Filed 2013-07-31
10-Q 2013-03-31 Filed 2013-05-03
10-K 2012-12-31 Filed 2013-02-22
10-Q 2012-09-30 Filed 2012-10-25
10-Q 2012-06-30 Filed 2012-07-26
10-Q 2012-03-31 Filed 2012-05-04
10-K 2011-12-31 Filed 2012-03-02
10-Q 2011-09-30 Filed 2011-10-31
10-Q 2011-06-30 Filed 2011-07-29
10-Q 2011-03-31 Filed 2011-05-05
10-K 2010-12-31 Filed 2011-02-23
10-Q 2010-09-30 Filed 2010-10-20
10-Q 2010-06-30 Filed 2010-07-21
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-02-26
8-K 2020-06-08
8-K 2020-06-01
8-K 2020-05-27
8-K 2020-05-18
8-K 2020-04-21
8-K 2020-04-20
8-K 2020-03-03
8-K 2020-01-21
8-K 2020-01-21
8-K 2020-01-01
8-K 2019-10-15
8-K 2019-09-06
8-K 2019-07-16
8-K 2019-04-24
8-K 2019-04-16
8-K 2019-04-15
8-K 2019-01-15
8-K 2019-01-14
8-K 2018-11-13
8-K 2018-10-16
8-K 2018-07-17
8-K 2018-04-26
8-K 2018-04-18
8-K 2018-04-17
8-K 2018-02-20
8-K 2018-01-16

PNFP 10Q Quarterly Report

Item 1.Part I. Financial Information
Note 1. Summary of Significant Accounting Policies
Note 2. Equity Method Investment
Note 3. Securities
Note 4. Loans and Allowance for Credit Losses
Note 5. Income Taxes
Note 6. Commitments and Contingent Liabilities
Note 7. Stock Options and Restricted Shares
Note 8. Derivative Instruments
Note 9. Fair Value of Financial Instruments
Note 10. Regulatory Matters
Note 11. Other Borrowings
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 ex31103312020.htm
EX-31.2 ex31203312020.htm
EX-32.1 ex32103312020.htm
EX-32.2 ex32203312020.htm

Pinnacle Financial Partners Earnings 2020-03-31

Balance SheetIncome StatementCash Flow

pnfp-20200331
0001115055December 312020Q1FALSE75,848,0151,051,091201,21710,00010,0001.001.00180,000180,00075,80076,56475,80076,5640.160.16Nono26.1419.76,900,000Other noninterest incomeOther assetsOther liabilitiesOther noninterest incomeOther assetsOther liabilitiesOther noninterest income1.4three month LIBOR + 3.128%00011150552020-01-012020-03-31xbrli:shares00011150552020-05-01iso4217:USD00011150552020-03-3100011150552019-12-31iso4217:USDxbrli:shares00011150552019-01-012019-03-310001115055us-gaap:DepositAccountMember2020-01-012020-03-310001115055us-gaap:DepositAccountMember2019-01-012019-03-310001115055us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2020-01-012020-03-310001115055us-gaap:InvestmentAdvisoryManagementAndAdministrativeServiceMember2019-01-012019-03-310001115055pnfp:InsurancesalescommissionsMember2020-01-012020-03-310001115055pnfp:InsurancesalescommissionsMember2019-01-012019-03-310001115055us-gaap:MortgageBankingMember2020-01-012020-03-310001115055us-gaap:MortgageBankingMember2019-01-012019-03-310001115055pnfp:GainonsaleofinvestmentsecuritiesnetMember2020-01-012020-03-310001115055pnfp:GainonsaleofinvestmentsecuritiesnetMember2019-01-012019-03-310001115055us-gaap:FiduciaryAndTrustMember2020-01-012020-03-310001115055us-gaap:FiduciaryAndTrustMember2019-01-012019-03-310001115055pnfp:IncomefromequitymethodinvestmentMember2020-01-012020-03-310001115055pnfp:IncomefromequitymethodinvestmentMember2019-01-012019-03-310001115055us-gaap:FinancialServiceOtherMember2020-01-012020-03-310001115055us-gaap:FinancialServiceOtherMember2019-01-012019-03-310001115055us-gaap:CommonStockMember2018-12-310001115055us-gaap:AdditionalPaidInCapitalMember2018-12-310001115055us-gaap:RetainedEarningsMember2018-12-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-3100011150552018-12-310001115055us-gaap:CommonStockMember2019-01-012019-03-310001115055us-gaap:AdditionalPaidInCapitalMember2019-01-012019-03-310001115055us-gaap:RetainedEarningsMember2019-01-012019-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310001115055us-gaap:CommonStockMember2019-03-310001115055us-gaap:AdditionalPaidInCapitalMember2019-03-310001115055us-gaap:RetainedEarningsMember2019-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-3100011150552019-03-310001115055us-gaap:CommonStockMember2019-12-310001115055us-gaap:AdditionalPaidInCapitalMember2019-12-310001115055us-gaap:RetainedEarningsMember2019-12-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001115055us-gaap:CommonStockMember2020-01-012020-03-310001115055us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310001115055us-gaap:RetainedEarningsMember2020-01-012020-03-310001115055us-gaap:RetainedEarningsMember2020-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310001115055us-gaap:CommonStockMember2020-03-310001115055us-gaap:AdditionalPaidInCapitalMember2020-03-310001115055us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310001115055us-gaap:CommercialLoanMember2020-01-012020-03-310001115055us-gaap:CommercialLoanMember2019-01-012019-03-310001115055us-gaap:ConsumerLoanMember2020-01-012020-03-310001115055us-gaap:ConsumerLoanMember2019-01-012019-03-31xbrli:pure0001115055pnfp:BankersHealthcareGroupLLCMember2020-03-31pnfp:market0001115055pnfp:AdvocateCapitalInc.Member2019-07-022019-07-020001115055pnfp:AdvocateCapitalInc.Member2019-07-020001115055us-gaap:AccountingStandardsUpdate201602Member2019-01-010001115055us-gaap:RetainedEarningsMember2020-01-0100011150552020-01-010001115055pnfp:BankersHealthcareGroupLLCMember2019-12-310001115055pnfp:BankersHealthcareGroupLLCMember2020-01-012020-03-310001115055pnfp:BankersHealthcareGroupLLCMember2019-01-012019-03-310001115055pnfp:BankersHealthcareGroupLLCMember2019-03-310001115055us-gaap:USTreasurySecuritiesMember2020-03-310001115055us-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-03-310001115055us-gaap:MortgageBackedSecuritiesMember2020-03-310001115055us-gaap:USStatesAndPoliticalSubdivisionsMember2020-03-310001115055us-gaap:AssetBackedSecuritiesMember2020-03-310001115055us-gaap:CorporateDebtSecuritiesMember2020-03-310001115055us-gaap:USTreasurySecuritiesMember2019-12-310001115055us-gaap:USGovernmentAgenciesDebtSecuritiesMember2019-12-310001115055us-gaap:MortgageBackedSecuritiesMember2019-12-310001115055us-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-310001115055us-gaap:AssetBackedSecuritiesMember2019-12-310001115055us-gaap:CorporateDebtSecuritiesMember2019-12-310001115055us-gaap:AssetPledgedAsCollateralMember2020-03-3100011150552018-07-012018-09-300001115055pnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055pnfp:CommercialRealEstateOwnerOccupiedMember2019-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2019-12-310001115055us-gaap:ResidentialRealEstateMember2020-03-310001115055us-gaap:ResidentialRealEstateMember2019-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMember2019-12-310001115055us-gaap:PassMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055us-gaap:SpecialMentionMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:SubstandardAccrualMember2020-03-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberpnfp:SubstandardNonacrrualMember2020-03-310001115055pnfp:DoubtfulNonaccrualMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055us-gaap:PassMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:SubstandardAccrualMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:SubstandardNonacrrualMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:DoubtfulNonaccrualMember2020-03-310001115055us-gaap:PassMemberus-gaap:ResidentialRealEstateMember2020-03-310001115055us-gaap:SpecialMentionMemberus-gaap:ResidentialRealEstateMember2020-03-310001115055us-gaap:ResidentialRealEstateMemberpnfp:SubstandardAccrualMember2020-03-310001115055us-gaap:ResidentialRealEstateMemberpnfp:SubstandardNonacrrualMember2020-03-310001115055pnfp:DoubtfulNonaccrualMemberus-gaap:ResidentialRealEstateMember2020-03-310001115055us-gaap:PassMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055us-gaap:SpecialMentionMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardAccrualMember2020-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2020-03-310001115055pnfp:DoubtfulNonaccrualMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055us-gaap:PassMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055us-gaap:SpecialMentionMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055pnfp:SubstandardAccrualMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055pnfp:SubstandardNonacrrualMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055pnfp:DoubtfulNonaccrualMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardAccrualMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2020-03-310001115055us-gaap:PassMember2020-03-310001115055us-gaap:SpecialMentionMember2020-03-310001115055pnfp:SubstandardAccrualMember2020-03-310001115055pnfp:SubstandardNonacrrualMember2020-03-310001115055pnfp:DoubtfulNonaccrualMember2020-03-310001115055us-gaap:PassMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055us-gaap:PassMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055us-gaap:PassMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055us-gaap:PassMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2019-12-310001115055us-gaap:PassMember2019-12-310001115055us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055us-gaap:SpecialMentionMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055us-gaap:SpecialMentionMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055us-gaap:SpecialMentionMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310001115055us-gaap:SpecialMentionMember2019-12-310001115055us-gaap:CommercialRealEstatePortfolioSegmentMemberpnfp:SubstandardAccrualMember2019-12-310001115055pnfp:SubstandardAccrualMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardAccrualMember2019-12-310001115055pnfp:SubstandardAccrualMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardAccrualMember2019-12-310001115055pnfp:SubstandardAccrualMember2019-12-310001115055pnfp:SubstandardNonacrrualMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055pnfp:SubstandardNonacrrualMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2019-12-310001115055pnfp:SubstandardNonacrrualMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:SubstandardNonacrrualMember2019-12-310001115055pnfp:SubstandardNonacrrualMember2019-12-310001115055pnfp:DoubtfulNonaccrualMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055pnfp:DoubtfulNonaccrualMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:DoubtfulNonaccrualMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055pnfp:DoubtfulNonaccrualMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:DoubtfulNonaccrualMember2019-12-310001115055pnfp:DoubtfulNonaccrualMember2019-12-310001115055us-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055us-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2020-03-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2020-03-310001115055us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310001115055us-gaap:ResidentialPortfolioSegmentMember2020-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMember2020-03-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310001115055pnfp:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2019-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateOwnerOccupiedMember2019-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2019-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialRealEstateNonOwnerOccupiedMember2019-12-310001115055us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-310001115055us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310001115055us-gaap:UnallocatedFinancingReceivablesMember2019-12-310001115055us-gaap:AccountingStandardsUpdate201613Memberpnfp:CommercialRealEstateOwnerOccupiedMember2020-01-012020-01-010001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:AccountingStandardsUpdate201613Member2020-01-012020-01-010001115055us-gaap:AccountingStandardsUpdate201613Memberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-01-010001115055us-gaap:AccountingStandardsUpdate201613Memberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-01-012020-01-010001115055us-gaap:AccountingStandardsUpdate201613Memberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-01-012020-01-010001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:AccountingStandardsUpdate201613Member2020-01-012020-01-010001115055us-gaap:AccountingStandardsUpdate201613Memberus-gaap:UnallocatedFinancingReceivablesMember2020-01-012020-01-010001115055us-gaap:AccountingStandardsUpdate201613Member2020-01-012020-01-010001115055pnfp:CommercialRealEstateOwnerOccupiedMember2020-01-012020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2020-01-012020-03-310001115055us-gaap:ResidentialPortfolioSegmentMember2020-01-012020-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-01-012020-03-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2020-01-012020-03-310001115055us-gaap:ConsumerPortfolioSegmentMember2020-01-012020-03-310001115055us-gaap:UnallocatedFinancingReceivablesMember2020-01-012020-03-310001115055us-gaap:UnallocatedFinancingReceivablesMember2020-03-310001115055pnfp:CommercialRealEstateOwnerOccupiedMember2018-12-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2018-12-310001115055us-gaap:ResidentialPortfolioSegmentMember2018-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2018-12-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2018-12-310001115055us-gaap:ConsumerPortfolioSegmentMember2018-12-310001115055us-gaap:UnallocatedFinancingReceivablesMember2018-12-310001115055pnfp:CommercialRealEstateOwnerOccupiedMember2019-01-012019-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2019-01-012019-03-310001115055us-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-01-012019-03-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2019-01-012019-03-310001115055us-gaap:ConsumerPortfolioSegmentMember2019-01-012019-03-310001115055us-gaap:UnallocatedFinancingReceivablesMember2019-01-012019-03-310001115055pnfp:CommercialRealEstateOwnerOccupiedMember2019-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMember2019-03-310001115055us-gaap:ResidentialPortfolioSegmentMember2019-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-03-310001115055pnfp:CommercialandIndustrialPortfolioSegmentMember2019-03-310001115055us-gaap:ConsumerPortfolioSegmentMember2019-03-310001115055us-gaap:UnallocatedFinancingReceivablesMember2019-03-310001115055us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-12-310001115055us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberus-gaap:UnallocatedFinancingReceivablesMember2019-12-310001115055us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2019-12-310001115055us-gaap:RealEstateMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055pnfp:BusinessAssetsMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055pnfp:OtherMemberpnfp:CommercialRealEstateOwnerOccupiedMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:RealEstateMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:BusinessAssetsMember2020-03-310001115055pnfp:CommercialRealEstateNonOwnerOccupiedMemberpnfp:OtherMember2020-03-310001115055us-gaap:RealEstateMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310001115055pnfp:BusinessAssetsMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310001115055pnfp:OtherMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310001115055us-gaap:RealEstateMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055pnfp:BusinessAssetsMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055pnfp:OtherMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055us-gaap:RealEstateMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055pnfp:BusinessAssetsMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055pnfp:OtherMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberus-gaap:RealEstateMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:BusinessAssetsMember2020-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:OtherMember2020-03-310001115055us-gaap:RealEstateMember2020-03-310001115055pnfp:BusinessAssetsMember2020-03-310001115055pnfp:OtherMember2020-03-310001115055pnfp:ImpairedloanswithanallowanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055pnfp:ImpairedloanswithanallowanceMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:ImpairedloanswithanallowanceMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055pnfp:ImpairedloanswithanallowanceMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:ImpairedloanswithanallowanceMember2019-12-310001115055pnfp:ImpairedloanswithanallowanceMember2019-12-310001115055pnfp:ImpairedloanswithoutanallowanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310001115055pnfp:ImpairedloanswithoutanallowanceMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:ImpairedloanswithoutanallowanceMember2019-12-310001115055pnfp:ImpairedloanswithoutanallowanceMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-12-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:ImpairedloanswithoutanallowanceMember2019-12-310001115055pnfp:ImpairedloanswithoutanallowanceMember2019-12-310001115055pnfp:ImpairedloanswithanallowanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithanallowanceMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithanallowanceMemberpnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithanallowanceMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-01-012019-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:ImpairedloanswithanallowanceMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithanallowanceMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithoutanallowanceMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithoutanallowanceMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMemberpnfp:ImpairedloanswithoutanallowanceMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithoutanallowanceMemberpnfp:CommercialandIndustrialPortfolioSegmentMember2019-01-012019-03-310001115055us-gaap:ConsumerPortfolioSegmentMemberpnfp:ImpairedloanswithoutanallowanceMember2019-01-012019-03-310001115055pnfp:ImpairedloanswithoutanallowanceMember2019-01-012019-03-310001115055pnfp:LessorsOfNonresidentialBuildingsMember2020-03-310001115055pnfp:LessorsOfNonresidentialBuildingsMember2019-12-310001115055pnfp:LessorsOfResidentialBuildingsMember2020-03-310001115055pnfp:LessorsOfResidentialBuildingsMember2019-12-310001115055naics:ZZ2361172020-03-310001115055naics:ZZ2361172019-12-310001115055sic:Z70112020-03-310001115055sic:Z70112019-12-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2020-03-310001115055pnfp:ConstructionandLandDevelopmentPortfolioSegmentMember2019-12-310001115055pnfp:NonowneroccupiedcommercialrealestateandmultifamilyloansMember2020-03-310001115055pnfp:NonowneroccupiedcommercialrealestateandmultifamilyloansMember2019-12-310001115055us-gaap:CommitmentsToExtendCreditMember2020-03-310001115055us-gaap:HomeEquityMember2020-03-310001115055us-gaap:StandbyLettersOfCreditMember2020-03-3100011150552019-01-012019-12-310001115055pnfp:A2018EquityIncentivePlanMember2020-03-310001115055pnfp:BNCBancorp2013OmnibusStockIncentivePlanMember2020-03-310001115055pnfp:Plansotherthan2018OmnibusEquityIncentivePlanMember2020-03-310001115055pnfp:CapitalMarkPlanMember2015-07-312015-07-310001115055pnfp:CapitalMarkPlanMember2020-03-310001115055us-gaap:EmployeeStockOptionMember2019-12-310001115055us-gaap:EmployeeStockOptionMember2019-01-012019-12-310001115055us-gaap:EmployeeStockOptionMember2020-01-012020-03-310001115055us-gaap:EmployeeStockOptionMember2020-03-310001115055us-gaap:RestrictedStockMember2019-12-310001115055us-gaap:RestrictedStockMember2020-01-012020-03-310001115055us-gaap:RestrictedStockMember2020-03-310001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMembersrt:MinimumMember2020-01-012020-03-310001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMembersrt:MaximumMember2020-01-012020-03-310001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMember2020-01-012020-03-310001115055pnfp:TimeBasedAwardsMemberpnfp:AssociatesMember2020-03-310001115055pnfp:OutsideDirectorAwardsMembersrt:DirectorMember2020-01-012020-03-310001115055pnfp:OutsideDirectorAwardsMembersrt:DirectorMember2020-03-310001115055pnfp:SeniorExecutiveOfficersMembersrt:MinimumMemberpnfp:A2020RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:SeniorExecutiveOfficersMembersrt:MaximumMemberpnfp:A2020RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:LeadershipTeamMemberpnfp:A2020RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:Tranche2020Memberpnfp:A2020RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:Tranche2021Memberpnfp:A2020RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:Tranche2022Memberpnfp:A2020RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:A2019RestrictedgrantedsharesMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2020-01-012020-03-310001115055pnfp:A2019RestrictedgrantedsharesMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2020-01-012020-03-310001115055pnfp:LeadershipTeamMemberpnfp:A2019RestrictedgrantedsharesMember2020-01-012020-03-310001115055pnfp:RSUTranche2019Memberpnfp:A2019RestrictedgrantedsharesMember2020-01-012020-03-310001115055pnfp:Tranche2020Memberpnfp:A2019RestrictedgrantedsharesMember2020-01-012020-03-310001115055pnfp:Tranche2021Memberpnfp:A2019RestrictedgrantedsharesMember2020-01-012020-03-310001115055pnfp:A2018RestrictedShareUnitMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2020-01-012020-03-310001115055pnfp:A2018RestrictedShareUnitMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2020-01-012020-03-310001115055pnfp:A2018RestrictedShareUnitMemberpnfp:LeadershipTeamMember2020-01-012020-03-310001115055pnfp:A2018RestrictedShareUnitMemberpnfp:Tranche2018Member2020-01-012020-03-310001115055pnfp:RSUTranche2019Memberpnfp:A2018RestrictedShareUnitMember2020-01-012020-03-310001115055pnfp:Tranche2020Memberpnfp:A2018RestrictedShareUnitMember2020-01-012020-03-310001115055pnfp:A2017RestrictedShareUnitMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2020-01-012020-03-310001115055pnfp:A2017RestrictedShareUnitMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2020-01-012020-03-310001115055pnfp:LeadershipTeamMemberpnfp:A2017RestrictedShareUnitMember2020-01-012020-03-310001115055pnfp:A2017RestrictedShareUnitMemberpnfp:Tranche2017Member2020-01-012020-03-310001115055pnfp:A2017RestrictedShareUnitMemberpnfp:Tranche2018Member2020-01-012020-03-310001115055pnfp:RSUTranche2019Memberpnfp:A2017RestrictedShareUnitMember2020-01-012020-03-310001115055pnfp:A2016RestrictedShareUnitsMemberpnfp:SeniorExecutiveOfficersMembersrt:MinimumMember2020-01-012020-03-310001115055pnfp:A2016RestrictedShareUnitsMemberpnfp:SeniorExecutiveOfficersMembersrt:MaximumMember2020-01-012020-03-310001115055pnfp:LeadershipTeamMemberpnfp:A2016RestrictedShareUnitsMember2020-01-012020-03-310001115055pnfp:A2016RestrictedShareUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-03-310001115055pnfp:A2016RestrictedShareUnitsMemberpnfp:Tranche2017Member2020-01-012020-03-310001115055pnfp:A2016RestrictedShareUnitsMemberpnfp:Tranche2018Member2020-01-012020-03-310001115055pnfp:LeadershipTeamMemberus-gaap:RestrictedStockUnitsRSUMember2020-01-012020-03-310001115055us-gaap:NondesignatedMemberpnfp:PayFixedAndReceiveVariableSwapsMember2020-01-012020-03-310001115055us-gaap:NondesignatedMemberpnfp:PayFixedAndReceiveVariableSwapsMember2020-03-310001115055us-gaap:NondesignatedMemberpnfp:PayFixedAndReceiveVariableSwapsMember2019-12-310001115055us-gaap:NondesignatedMemberpnfp:PayVariableAndReceiveFixedSwapsMember2020-01-012020-03-310001115055us-gaap:NondesignatedMemberpnfp:PayVariableAndReceiveFixedSwapsMember2020-03-310001115055us-gaap:NondesignatedMemberpnfp:PayVariableAndReceiveFixedSwapsMember2019-12-310001115055us-gaap:NondesignatedMember2020-03-310001115055us-gaap:NondesignatedMember2019-12-310001115055us-gaap:NondesignatedMember2020-01-012020-03-310001115055us-gaap:NondesignatedMember2019-01-012019-03-310001115055us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AssetsMemberus-gaap:CashFlowHedgingMember2020-01-012020-03-310001115055us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AssetsMemberus-gaap:CashFlowHedgingMember2020-03-310001115055us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AssetsMemberus-gaap:CashFlowHedgingMember2019-12-310001115055us-gaap:LiabilityMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-01-012020-03-310001115055us-gaap:LiabilityMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-03-310001115055us-gaap:LiabilityMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2019-12-310001115055us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AssetsMemberus-gaap:CashFlowHedgingMember2019-01-012019-03-310001115055us-gaap:LiabilityMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2019-01-012019-03-310001115055us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-01-012020-03-310001115055us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2019-01-012019-03-3100011150552019-06-300001115055us-gaap:FairValueHedgingMemberus-gaap:SecuritiesInvestmentMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-03-310001115055us-gaap:FairValueHedgingMemberus-gaap:SecuritiesInvestmentMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-03-310001115055us-gaap:FairValueHedgingMemberus-gaap:SecuritiesInvestmentMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-12-310001115055us-gaap:FairValueHedgingMemberus-gaap:SecuritiesInvestmentMemberus-gaap:DesignatedAsHedgingInstrumentMember2019-01-012019-03-310001115055us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansMember2020-01-012020-03-310001115055us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LoansMember2019-01-012019-03-310001115055us-gaap:NondesignatedMemberpnfp:PayFixedAndReceiveVariableSwapsMember2019-01-012019-12-310001115055us-gaap:NondesignatedMemberpnfp:PayVariableAndReceiveFixedSwapsMember2019-01-012019-12-310001115055us-gaap:FairValueMeasurementsRecurringMember2020-03-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2020-03-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-03-310001115055us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310001115055us-gaap:FairValueMeasurementsRecurringMember2019-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2019-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2019-12-310001115055us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001115055us-gaap:FairValueMeasurementsNonrecurringMember2020-03-310001115055us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2020-03-310001115055us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2020-03-310001115055us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2020-03-310001115055us-gaap:FairValueMeasurementsNonrecurringMember2019-12-310001115055us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2019-12-310001115055us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2019-12-310001115055us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2019-12-310001115055us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2019-12-310001115055us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2018-12-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2018-12-310001115055us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-01-012020-03-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2020-01-012020-03-310001115055us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2019-01-012019-03-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2019-01-012019-03-310001115055us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-03-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2020-03-310001115055us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2019-03-310001115055us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherAssetsMember2019-03-310001115055us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-03-310001115055us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310001115055us-gaap:FairValueInputsLevel1Member2020-03-310001115055us-gaap:FairValueInputsLevel2Member2020-03-310001115055us-gaap:FairValueInputsLevel3Member2020-03-310001115055us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001115055us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001115055us-gaap:FairValueInputsLevel1Member2019-12-310001115055us-gaap:FairValueInputsLevel2Member2019-12-310001115055us-gaap:FairValueInputsLevel3Member2019-12-310001115055srt:ParentCompanyMember2020-01-012020-03-310001115055srt:SubsidiariesMember2020-03-310001115055srt:ParentCompanyMember2020-03-310001115055srt:ParentCompanyMember2019-12-310001115055srt:SubsidiariesMember2019-12-31pnfp:subsidiary0001115055us-gaap:RevolvingCreditFacilityMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionOneMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionOneMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionTwoMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionTwoMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionThreeMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionThreeMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionFourMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjectToMandatoryRedemptionFourMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionFiveMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionFiveMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSixMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSixMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSevenMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionSevenMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionEightMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionEightMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionNineMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionNineMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTenMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTenMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionElevenMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionElevenMember2020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTwelveMember2020-01-012020-03-310001115055pnfp:TrustPreferredSecuritiesSubjecttoMandatoryRedemptionTwelveMember2020-03-310001115055pnfp:PinnacleBankNotesEstablishedOnJuly302015Member2020-01-012020-03-310001115055pnfp:PinnacleBankNotesEstablishedOnJuly302015Member2020-03-310001115055pnfp:PinnacleBankNotesEstablishedOnMarch102016Member2020-01-012020-03-310001115055pnfp:PinnacleBankNotesEstablishedOnMarch102016Member2020-03-310001115055pnfp:PinnacleFinancialNotesMember2020-01-012020-03-310001115055pnfp:PinnacleFinancialNotesMember2020-03-310001115055pnfp:PinnacleFinancialNotes2019Member2020-01-012020-03-310001115055pnfp:PinnacleFinancialNotes2019Member2020-03-310001115055us-gaap:RevolvingCreditFacilityMember2020-01-012020-03-310001115055pnfp:SubordinatedDebtDue2023Member2019-07-012019-09-300001115055pnfp:AvenueSubordinatedNotesMember2020-01-012020-03-310001115055pnfp:BNCSubordinatedNotesMember2020-01-012020-03-31
Table of Contents
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 March 31, 2020
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: 000-31225
Pinnacle Financial Partners Inc.
pnfp-20200331_g1.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)

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  

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 $1.00PNFPNasdaq Global Select Market

As of May 1, 2020 there were 75,848,015 shares of common stock, $1.00 par value per share, issued and outstanding.



Table of Contents
Pinnacle Financial Partners, Inc.
Report on Form 10-Q
March 31, 2020

TABLE OF CONTENTSPage No.
  
  

2

Table of Contents
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," "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 resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) the effects of the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on general economic and financial market conditions and on Pinnacle Financial's and its customers' business, results of operations, asset quality and financial condition; (iii) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to lower rates it pays on deposits; (iv) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (v) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (vi) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (vii) 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 compression to net interest margin; (viii) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout Tennessee, North Carolina, South Carolina and Virginia,  particularly in commercial and residential real estate markets; (ix) 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; (x) the results of regulatory examinations; (xi) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiii) BHG's ability to profitably grow its business and successfully execute on its business plans; (xiv) risks of expansion into new geographic or product markets including the recent expansion into the Atlanta, Georgia metro market; (xv) any matter or development, including those resulting from the COVID-19 pandemic, that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xvi) 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; (xvii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xviii) 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; (xix) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xx) 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; (xxi) 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;  (xxii) the risks associated with Pinnacle Financial and 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 if not prohibited from doing so by Pinnacle Financial or Pinnacle Bank; (xxiii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxiv) the availability of and access to capital; (xxv) 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, including as a result of Pinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic; and (xxvi) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K, 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

Table of Contents

Item 1.Part I. Financial Information

PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
March 31, 2020December 31, 2019
ASSETS  
Cash and noninterest-bearing due from banks$181,088  $157,901  
Restricted cash 243,313  137,045  
Interest-bearing due from banks598,084  210,784  
Federal funds sold and other1,883  20,977  
Cash and cash equivalents1,024,368  526,707  
Securities available-for-sale, at fair value3,030,564  3,539,995  
Securities held-to-maturity, net of allowance for credit losses of $148,000 at March 31, 2020 (fair value of $1.1 billion and $201.2 million at March 31, 2020 and Dec. 31, 2019, respectively)1,059,257  188,996  
Consumer loans held-for-sale87,245  81,820  
Commercial loans held-for-sale6,850  17,585  
Loans20,396,853  19,787,876  
Less allowance for credit losses(222,465) (94,777) 
Loans, net20,174,388  19,693,099  
Premises and equipment, net274,919  273,932  
Equity method investment285,671  278,037  
Accrued interest receivable82,198  84,462  
Goodwill1,819,811  1,819,811  
Core deposits and other intangible assets48,610  51,130  
Other real estate owned27,182  29,487  
Other assets1,343,117  1,220,435  
Total assets$29,264,180  $27,805,496  
LIABILITIES AND STOCKHOLDERS' EQUITY  
Deposits:  
Noninterest-bearing$4,963,415  $4,795,476  
Interest-bearing4,025,382  3,630,168  
Savings and money market accounts8,144,409  7,813,939  
Time4,199,965  3,941,445  
Total deposits21,333,171  20,181,028  
Securities sold under agreements to repurchase186,548  126,354  
Federal Home Loan Bank advances2,317,520  2,062,534  
Subordinated debt and other borrowings669,658  749,080  
Accrued interest payable33,931  42,183  
Other liabilities338,224  288,569  
Total liabilities24,879,052  23,449,748  
Stockholders' equity:  
Preferred stock, no par value; 10.0 million shares authorized; no shares issued and outstanding    
Common stock, par value $1.00; 180.0 million shares authorized; 75.8 million and 76.5 million shares issued and outstanding at March 31, 2020 and Dec. 31, 2019, respectively75,800  76,564  
Additional paid-in capital3,015,521  3,064,467  
Retained earnings1,168,301  1,184,183  
Accumulated other comprehensive income, net of taxes125,506  30,534  
Total stockholders' equity4,385,128  4,355,748  
Total liabilities and stockholders' equity$29,264,180  $27,805,496  
4

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

Table of Contents
PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(dollars in thousands, except per share data)
Three months ended
March 31,
 20202019
Interest income:
Loans, including fees$236,420  $229,379  
Securities:
Taxable10,268  13,540  
Tax-exempt13,824  11,672  
Federal funds sold and other2,557  3,292  
Total interest income263,069  257,883  
Interest expense:
Deposits50,698  54,217  
Securities sold under agreements to repurchase115  145  
Federal Home Loan Bank advances and other borrowings18,704  16,275  
Total interest expense69,517  70,637  
Net interest income193,552  187,246  
Provision for credit losses99,889  7,184  
Net interest income after provision for credit losses93,663  180,062  
Noninterest income:
Service charges on deposit accounts9,032  8,542  
Investment services9,239  5,468  
Insurance sales commissions3,240  2,928  
Gain on mortgage loans sold, net8,583  4,878  
Investment gains and losses on sales, net463  (1,960) 
Trust fees4,170  3,295  
Income from equity method investment15,592  13,290  
Other noninterest income20,058  14,622  
Total noninterest income70,377  51,063  
Noninterest expense:
Salaries and employee benefits80,480  70,376  
Equipment and occupancy20,978  19,331  
Other real estate expense, net2,415  246  
Marketing and other business development3,251  2,948  
Postage and supplies1,990  1,892  
Amortization of intangibles2,520  2,311  
Other noninterest expense25,715  16,947  
Total noninterest expense137,349  114,051  
Income before income taxes26,691  117,074  
Income tax expense (benefit)(1,665) 23,114  
Net income$28,356  $93,960  
Per share information:
Basic net income per common share$0.37  $1.22  
Diluted net income per common share$0.37  $1.22  
Weighted average shares outstanding:
Basic75,803,402  76,803,171  
Diluted75,966,295  77,127,692  

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

Table of Contents
PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)
(dollars in thousands)

 Three months ended
March 31,
 20202019
Net income$28,356  $93,960  
Other comprehensive income, net of tax:
Change in fair value on available-for-sale securities, net of tax32,872  36,379  
Change in fair value of cash flow hedges, net of tax61,084  (523) 
Amortization (accretion) of net unrealized losses (gains) on securities transferred from available-for-sale to held-to-maturity, net of tax(467) 29  
Net loss (gain) on cash flow hedges reclassified from other comprehensive income into net income, net of tax1,825  (256) 
Net loss (gain) on sale of investment securities reclassified from other comprehensive income into net income, net of tax(342) 1,448  
Total other comprehensive income, net of tax94,972  37,077  
Total comprehensive income$123,328  $131,037  

See accompanying notes to consolidated financial statements (unaudited).
7

Table of Contents
PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(Unaudited)
(dollars and shares in thousands)
 Common Stock  
 SharesAmountsAdditional Paid-in CapitalRetained EarningsAccumulated Other Comp. Income (Loss), netTotal Stockholder's Equity
Balance at December 31, 201877,484  $77,484  $3,107,431  $833,130  $(52,105) $3,965,940  
Exercise of employee common stock options and related tax benefits5  5  125  —  —  130  
Common stock dividends paid ($0.16 per share)—  —  —  (12,545) —  (12,545) 
Repurchase of common stock(543) (543) (29,506) —  —  (30,049) 
Issuance of restricted common shares, net of forfeitures180  180  (180) —  —    
Restricted shares withheld for taxes & related tax benefit(62) (62) (3,425) —  —  (3,487) 
Compensation expense for restricted shares and performance stock units—  —  4,913  —  —  4,913  
Net income—  —  —  93,960  —  93,960  
Other comprehensive income—  —  —  —  37,077  37,077  
Balance at March 31, 201977,064  $77,064  $3,079,358  $914,545  $(15,028) $4,055,939  
Balance at December 31, 201976,564  $76,564  $3,064,467  $1,184,183  $30,534  $4,355,748  
Exercise of employee common stock options and related tax benefits1  1  4  —  —  5  
Common stock dividends paid ($0.16 per share)—  —  —  (12,442) —  (12,442) 
Repurchase of common stock(1,015) (1,015) (49,775) —  —  (50,790) 
Issuance of restricted common shares, net of forfeitures198  198  (198) —  —    
Issuance of common stock pursuant to performance-based vesting restricted stock units, net of shares withheld for taxes and related tax benefit84  84  (2,552) —  —  (2,468) 
Restricted shares withheld for taxes & related tax benefit(32) (32) (1,926) —  —  (1,958) 
Compensation expense for restricted shares and performance stock units—  —  5,501  —  —  5,501  
Net income—  —  —  28,356  —  28,356  
Cumulative effect of change in accounting principle—  —  —  (31,796) —  (31,796) 
Other comprehensive income—  —  —  —  94,972  94,972  
Balance at March 31, 202075,800  $75,800  $3,015,521  $1,168,301  $125,506  $4,385,128  

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

Table of Contents
PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(dollars in thousands)
 Three months ended
March 31,
 20202019
Operating activities:  
Net income$28,356  $93,960  
Adjustments to reconcile net income to net cash provided by operating activities:  
Net amortization/accretion of premium/discount on securities6,799  4,309  
Depreciation, amortization and accretion10,219  468  
Provision for credit losses99,889  7,184  
Gain on mortgage loans sold, net(8,583) (4,878) 
Investment losses (gains) on sales, net(463) 1,960  
Stock-based compensation expense5,501  4,913  
Deferred tax expense (benefit)(11,799) 8,702  
Losses (gains) on dispositions of other real estate and other investments2,309  (50) 
Income from equity method investment(15,592) (13,290) 
  Dividends received from equity method investment7,957  12,666  
Excess tax benefit from stock compensation(862) (769) 
Gain on commercial loans sold, net(597) (611) 
Commercial loans held for sale:  
Loans originated(78,671) (80,117) 
Loans sold90,003