Pinnacle Financial Partners (PNFP) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	000-31225
Entity Registrant Name	Pinnacle Financial Partners Inc.
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1812853
Entity Address, Address Line One	150 Third Avenue South, Suite 900
Entity Address, City or Town	Nashville,
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37201
City Area Code	(615)
Local Phone Number	744-3700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		76,094,901
Entity Central Index Key	0001115055
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Noncumulative Preferred Stock [Member]
Cover [Abstract]
Title of 12(b) Security	Depositary Shares (each representing 1/40th interest in a share of 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B)
Trading Symbol	PNFPP
Security Exchange Name	NASDAQ
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares (each representing 1/40th interest in a share of 6.75% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series B)
Trading Symbol	PNFPP
Security Exchange Name	NASDAQ
Common Class A [Member]
Cover [Abstract]
Title of 12(b) Security	Common Stock, par value $1.00
Trading Symbol	PNFP
Security Exchange Name	NASDAQ
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $1.00
Trading Symbol	PNFP
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets [Abstract]
Cash and noninterest-bearing due from banks	$ 189,251	$ 203,296
Restricted Cash, Current	162,834	223,788
Interest-bearing due from banks	2,780,137	3,522,224
Federal funds sold and other	55,186	12,141
Cash and cash equivalents	3,187,408	3,961,449
Securities Purchased under Agreements to Resell	450,000	0
Available-for-sale Securities	3,677,019	3,586,681
Securities held-to-maturity (fair value of $1.0 billion and $1.1 billion, net of allowance for credit losses of $198 and $191 at March 31, 2021 and Dec. 31, 2020, respectively)	1,014,345	1,028,359
Consumer loans held-for-sale	85,769	87,821
Commercial loans held-for-sale	12,541	31,200
Loans and Leases Receivable, Net of Deferred Income	23,086,701	22,424,501
Less allowance for credit losses	(280,881)	(285,050)
Loans, net	22,805,820	22,139,451
Premises and equipment, net	289,515	290,001
Equity method investment	327,512	308,556
Accrued interest receivable	98,477	104,078
Goodwill	1,819,811	1,819,811
Core deposits and other intangible assets	40,130	42,336
Other real estate owned	10,651	12,360
Other assets	1,480,707	1,520,757
Total assets	35,299,705	34,932,860
Deposits:
Noninterest-bearing	8,103,943	7,392,325
Interest-bearing	5,814,689	5,689,095
Savings and money market accounts	11,361,620	11,099,523
Time	3,012,688	3,524,632
Total deposits	28,292,940	27,705,575
Securities sold under agreements to repurchase	172,117	128,164
Federal Home Loan Bank advances	888,115	1,087,927
Subordinated debt and other borrowings	671,002	670,575
Accrued interest payable	15,359	24,934
Other liabilities	300,648	411,074
Total liabilities	30,340,181	30,028,249
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 March 31, 2021 and Dec. 31, 2020, respectively	217,126	217,126
Common stock, par value $1.00; 180.0 million shares authorized; 76.1 million and 75.9 million shares issued and outstanding at March 31, 2021 and Dec. 31, 2020, respectively	76,088	75,850
Additional paid-in capital	3,027,311	3,028,063
Retained earnings	1,515,451	1,407,723
Accumulated other comprehensive income, net of taxes	123,548	175,849
Total shareholders' equity	4,959,524	4,904,611
Liabilities and Equity	$ 35,299,705	$ 34,932,860

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Securities held-to-maturity, fair value	$ 1,033,749,000	$ 1,066,531,000
Allowance for credit losses - securities held-to-maturity	$ (198,000)	$ (191,000)
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	225,000	225,000
Preferred stock, shares outstanding (in shares)	225,000	225,000
Preferred Stock, Liquidation Preference Per Share	$ 1,000	$ 1,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	180,000,000	180,000,000
Common stock, shares issued (in shares)	76,088,000	75,850,000
Common stock, shares outstanding (in shares)	76,088,000	75,850,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest income:
Loans, including fees	$ 227,372	$ 236,420
Securities:
Taxable	7,728	10,268
Tax-exempt	15,498	13,824
Federal funds sold and other	1,319	2,557
Total interest income	251,917	263,069
Interest expense:
Deposits	17,468	50,698
Securities sold under agreements to repurchase	72	115
Federal Home Loan Bank advances and other borrowings	11,507	18,704
Total interest expense	29,047	69,517
Net interest income	222,870	193,552
Provision for credit losses	7,235	99,889
Net interest income after provision for credit losses	215,635	93,663
Noninterest income:
Total noninterest income	92,709	70,377
Noninterest expense:
Salaries and employee benefits	102,728	80,480
Equipment and occupancy	23,220	20,978
Other real estate (income) expense, net	(13)	2,415
Marketing and other business development	2,349	3,251
Postage and supplies	1,806	1,990
Amortization of intangibles	2,206	2,520
Other noninterest expense	22,400	25,715
Total noninterest expense	154,696	137,349
Income before income taxes	153,648	26,691
Income tax expense (benefit)	28,220	(1,665)
Net income	125,428	28,356
Preferred stock dividends	(3,798)	0
Net income available to common shareholders	$ 121,630	$ 28,356
Per share information:
Basic net income per common share (in dollars per share)	$ 1.61	$ 0.37
Diluted net income per common share (in dollars per share)	$ 1.61	$ 0.37
Weighted average common shares outstanding:
Basic (in shares)	75,372,883	75,803,402
Diluted (in shares)	75,657,149	75,966,295
Service charges on deposit accounts
Noninterest income:
Total noninterest income	$ 8,307	$ 9,032
Investment services
Noninterest income:
Total noninterest income	8,191	9,239
Insurance sales commissions
Noninterest income:
Total noninterest income	3,225	3,240
Gain on mortgage loans sold, net
Noninterest income:
Total noninterest income	13,666	8,583
Investment gains on sales, net
Noninterest income:
Total noninterest income	0	463
Trust fees
Noninterest income:
Total noninterest income	4,687	4,170
Income from equity method investment
Noninterest income:
Total noninterest income	28,950	15,592
Other noninterest income
Noninterest income:
Total noninterest income	$ 25,683	$ 20,058

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income	$ 125,428,000	$ 28,356,000
Other comprehensive income (loss), net of tax:
Change in fair value on available-for-sale securities, net of tax	(33,372,000)	32,872,000
Change in fair value of cash flow hedges, net of tax	(17,742,000)	61,084,000
Accretion of net unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax	(1,691,000)	(467,000)
Loss on cash flow hedges reclassified from other comprehensive income into net income, net of tax	504,000	1,825,000
Net gain on sale of investment securities reclassified from other comprehensive income into net income, net of tax	0	(342,000)
Total other comprehensive income (loss), net of tax	(52,301,000)	94,972,000
Total comprehensive income	$ 73,127,000	$ 123,328,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comp. Income (Loss), net	Accounting Standards Update 2016-13	Accounting Standards Update 2016-13Retained Earnings
Common Stock, Dividends, Per Share, Cash Paid	$ 0.16
Balance at Dec. 31, 2019	$ 4,355,748		$ 76,564	$ 3,064,467	$ 1,184,183	$ 30,534
Balance (in shares) at Dec. 31, 2019			76,564,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of employee common stock options & related tax benefits	5		$ 1	4
Exercise of employee common stock options and related tax benefits (in shares)			1,000
Common dividends paid	(12,442)				(12,442)
Repurchase of common stock	(50,790)		$ (1,015)	(49,775)
Repurchase of common stock (in shares)			(1,015,000)
Issuance of restricted common shares, net of forfeitures	0		$ 198	(198)
Issuance of restricted common shares, net of forfeitures (in shares)			198,000
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes & related tax benefits	(2,468)		$ 84	(2,552)
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes and related tax benefit (in shares)			84,000
Restricted shares withheld for taxes & related benefits	(1,958)		$ (32)	(1,926)
Restricted shares withheld for taxes (in shares)			(32,000)
Stock-based compensation expense	5,501			5,501
Net income	28,356				28,356
Cumulative effect of change in accounting principle							$ (31,796)	$ (31,796)
Other comprehensive income (loss)	94,972					94,972
Balance at Mar. 31, 2020	$ 4,385,128		$ 75,800	3,015,521	1,168,301	125,506
Balance (in shares) at Mar. 31, 2020			75,800,000
Common Stock, Dividends, Per Share, Cash Paid	$ 0.18
Balance at Dec. 31, 2020	$ 4,904,611	$ 217,126	$ 75,850	3,028,063	1,407,723	175,849
Balance (in shares) at Dec. 31, 2020			75,850,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred dividends paid	(3,798)				(3,798)
Exercise of employee common stock options & related tax benefits	304		$ 13	291
Exercise of employee common stock options and related tax benefits (in shares)			13,000
Common dividends paid	(13,902)				(13,902)
Issuance of restricted common shares, net of forfeitures	0		$ 172	(172)
Issuance of restricted common shares, net of forfeitures (in shares)			172,000
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes & related tax benefits	(3,761)		$ 87	(3,848)
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes and related tax benefit (in shares)			87,000
Restricted shares withheld for taxes & related benefits	(2,456)		$ (34)	(2,422)
Restricted shares withheld for taxes (in shares)			(34,000)
Stock-based compensation expense	5,399			5,399
Net income	125,428				125,428
Other comprehensive income (loss)	(52,301)					(52,301)
Balance at Mar. 31, 2021	$ 4,959,524	$ 217,126	$ 76,088	$ 3,027,311	$ 1,515,451	$ 123,548
Balance (in shares) at Mar. 31, 2021			76,088,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 16.88

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities:
Net income	$ 125,428	$ 28,356
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization/accretion of premium/discount on securities	12,195	6,799
Depreciation, amortization and accretion	14,049	10,219
Provision for credit losses	7,235	99,889
Gain on mortgage loans sold, net	(13,666)	(8,583)
Investment gains on sales, net	0	(463)
Stock-based compensation expense	5,399	5,501
Deferred tax expense (benefit)	7,537	(11,799)
Losses (gains) on dispositions of other real estate and other investments	(132)	2,309
Income from equity method investment	(28,950)	(15,592)
Dividends received from equity method investment	9,993	7,957
Excess tax benefit from stock compensation	(1,565)	(862)
Gain (Loss) on Sale of Loans and Leases	1,184	597
Decrease (increase) in other assets	70,174	(113,848)
Increase (decrease) in other liabilities	(118,902)	32,834
Net cash provided by operating activities	123,173	56,610
Activities in securities available-for-sale:
Purchases	(302,867)	(407,122)
Sales	0	30,204
Maturities, prepayments and calls	126,841	88,164
Activities in securities held-to-maturity:
Maturities, prepayments and calls	9,653	1,743
Increase in securities purchased under agreements to resell	(450,000)	0
Increase in loans, net	(672,239)	(611,836)
Purchases of software, premises and equipment	(5,704)	(6,334)
Proceeds from sale of other real estate	1,980	1,796
Proceeds from derivative instruments	0	35,680
Proceeds from sale of FHLB stock	7,883	0
Increase in other investments	(20,456)	(10,893)
Net cash used in investing activities	(1,304,909)	(878,598)
Financing activities:
Net increase in deposits	587,418	1,152,246
Net increase in securities sold under agreements to repurchase	43,954	60,194
Federal Home Loan Bank: Advances	0	650,000
Federal Home Loan Bank: Repayments/maturities	(200,000)	(395,014)
Advances of other borrowings, net of issuance costs	0	(65)
Repayments of other borrowings	0	(80,000)
Principal payments of finance lease obligation	(64)	(59)
Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes	(3,761)	(2,468)
Exercise of common stock options, net of shares surrendered for taxes	(2,152)	(1,953)
Repurchase of common stock	0	(50,790)
Common stock dividends paid	(13,902)	(12,442)
Preferred stock dividends paid	(3,798)	0
Net cash provided by financing activities	407,695	1,319,649
Net increase (decrease) in cash, cash equivalents, and restricted cash	(774,041)	497,661
Cash, cash equivalents, and restricted cash, beginning of period	3,961,449	526,707
Cash, cash equivalents, and restricted cash, end of period	3,187,408	1,024,368
Commercial Loan
Adjustments to reconcile net income to net cash provided by operating activities:
Loans held-for-sale originated	(115,154)	(78,671)
Loans held-for-sale sold	134,997	90,003
Consumer Loan
Adjustments to reconcile net income to net cash provided by operating activities:
Loans held-for-sale originated	(640,024)	(366,423)
Loans held-for-sale sold	$ 655,743	$ 369,581

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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), BNC Bancorp (BNC) and Advocate Capital, Inc. (Advocate Capital) on July 31, 2015, September 1, 2015, July 1, 2016, June 16, 2017 and July 2, 2019, respectively. Pinnacle Financial and Pinnacle Bank also collectively hold a 49% interest in Bankers Healthcare Group, LLC (BHG), a company that primarily serves as a full-service commercial loan provider to healthcare and other professional practices. Pinnacle Bank provides a full range of banking services, including investment, mortgage, insurance, and comprehensive wealth management services, in its 12 primarily urban markets within Tennessee, the Carolinas, Virginia and Georgia. 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, 2020 (2020 10-K). These 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 11. Other Borrowings are included in these 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 continued impact of the COVID-19 pandemic on the economy. The resulting change in these estimates could be material to Pinnacle Financial's consolidated financial statements. There have been no significant changes to Pinnacle Financial's significant accounting policies as disclosed in the 2020 10-K. Cash Flow Information — Supplemental cash flow information addressing certain cash and noncash transactions for the three months ended March 31, 2021 and 2020 was as follows (in thousands): For the three months ended 2021 2020 Cash Transactions: Interest paid $ 38,362 $ 77,748 Income taxes paid, net 433 620 Operating lease payments 3,516 3,424 Noncash Transactions: Loans charged-off to the allowance for credit losses 14,274 11,693 Loans foreclosed upon and transferred to other real estate owned 139 1,800 Available-for-sale securities transferred to held-to-maturity portfolio — 873,613 Right-of-use asset recognized during the period in exchange for lease obligations 531 716 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. 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 months ended March 31, 2021 and 2020 (in thousands, except per share data): Three months ended 2021 2020 Basic net income per common share calculation: Numerator - Net income available to common shareholders $ 121,630 $ 28,356 Denominator - Weighted average common shares outstanding 75,373 75,803 Basic net income per common share $ 1.61 $ 0.37 Diluted net income per common share calculation: Numerator – Net income available to common shareholders $ 121,630 $ 28,356 Denominator - Weighted average common shares outstanding 75,373 75,803 Dilutive common shares contingently issuable 284 163 Weighted average diluted common shares outstanding 75,657 75,966 Diluted net income per common share $ 1.61 $ 0.37 Recently Adopted Accounting Pronouncements — In January 2020, the FASB issued Accounting Standards Update 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. These amendments, among other things, clarify that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments-Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The amendments also clarify that when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. An entity should apply ASU 2020-01 prospectively at the beginning of the interim period that includes the adoption date. The amendments became effective for Pinnacle Financial on January 1, 2021 and had no impact on Pinnacle Financial's consolidated financial statements. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes to simplify various aspects of the current guidance to promote consistent application of the standard among reporting entities by moving certain exceptions to the general principles. The amendments are effective for fiscal years beginning after December 15, 2020. The amendments became effective for Pinnacle Financial on January 1, 2021 and had no impact on Pinnacle Financial's consolidated financial statements. In March 2020, the FASB issued Accounting Standards Update 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 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 is effective for all entities as of March 12, 2020 through December 31, 2022. Pinnacle Financial is implementing a transition plan to identify and modify its loans and other financial instruments, including certain indebtedness, with attributes that are either directly or indirectly influenced by LIBOR. Pinnacle Financial is assessing ASU 2020-04 and its impact on the transition away from LIBOR for its loans and other financial instruments. Newly Issued Not Yet Effective Accounting Standards — Other than those pronouncements discussed above which have been recently adopted, Pinnacle Financial does not believe there were any other recently issued accounting pronouncements that are expected to 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 financial statements are issued. Pinnacle Financial evaluated all events or transactions that occurred after March 31, 2021 through the date of the issued financial statements.

Equity method investment

Equity method investment	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity method investment	Note 2. Equity method investment A summary of BHG's financial position as of March 31, 2021 and December 31, 2020 and results of operations as of and for the three months ended March 31, 2021 and 2020, were as follows (in thousands): As of March 31, 2021 December 31, 2020 Assets $ 1,608,912 $ 1,330,317 Liabilities 1,334,066 1,088,135 Equity interests 274,846 242,182 Total liabilities and equity $ 1,608,912 $ 1,330,317 For the three months ended 2021 2020 Revenues $ 157,623 $ 97,943 Net income $ 58,562 $ 32,471 At March 31, 2021, technology, trade name and customer relationship intangibles, net of related amortization, totaled $7.4 million compared to $7.6 million as of December 31, 2020. Amortization expense of $188,000 was included for the three months ended March 31, 2021 compared to $293,000 for the same period in the prior year. Accretion income of $452,000 was included in the three months ended March 31, 2021 compared to $564,000 for the same period in the prior year. During the three months ended March 31, 2021, Pinnacle Financial and Pinnacle Bank received dividends of $10.0 million from BHG in the aggregate compared to $8.0 million for the same period in the prior year. Earnings from BHG are included in Pinnacle Financial's consolidated tax return. Profits from intercompany transactions are eliminated. During the three months ended March 31, 2021, Pinnacle Bank purchased $74.6 million of loans from BHG at par pursuant to BHG's joint venture loan program whereby BHG and Pinnacle share proportionately in the credit risk of the acquired loans based on the rate on the loan and the rate of the purchase. The yield on this portfolio to Pinnacle Bank is anticipated to be 4.75% per annum. No loans were purchased from BHG by Pinnacle Bank for the three months ended March 31, 2020.

Securities

Securities	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Securities	Note 3. Securities The amortized cost and fair value of securities available-for-sale and held-to-maturity at March 31, 2021 and December 31, 2020 are summarized as follows (in thousands): Amortized Gross Gross Fair March 31, 2021: Securities available-for-sale: U.S. Treasury securities $ 83,971 $ 22 $ — $ 83,993 U.S. government agency securities 159,613 1,224 3,381 157,456 Mortgage-backed securities 1,583,670 40,921 14,813 1,609,778 State and municipal securities 1,480,691 40,140 8,471 1,512,360 Asset-backed securities 191,005 382 692 190,695 Corporate notes and other 121,766 2,824 1,853 122,737 $ 3,620,716 $ 85,513 $ 29,210 $ 3,677,019 Securities held-to-maturity: State and municipal securities $ 1,014,543 $ 22,320 $ 3,114 $ 1,033,749 $ 1,014,543 $ 22,320 $ 3,114 $ 1,033,749 Allowance for credit losses - securities held-to-maturity (198) Securities held-to-maturity, net of allowance for credit losses $ 1,014,345 December 31, 2020: Securities available-for-sale: U.S. Treasury securities $ 82,199 $ 10 $ — $ 82,209 U.S. government agency securities 74,916 1,547 60 76,403 Mortgage-backed securities 1,623,759 67,759 2,327 1,689,191 State and municipal securities 1,411,288 44,559 12,484 1,443,363 Asset-backed securities 177,878 715 657 177,936 Corporate notes and other 117,256 2,632 2,309 117,579 $ 3,487,296 $ 117,222 17,837 $ 3,586,681 Securities held-to-maturity: State and municipal securities $ 1,028,550 $ 38,272 $ 291 $ 1,066,531 $ 1,028,550 $ 38,272 $ 291 $ 1,066,531 Allowance for credit losses - securities held-to-maturity (191) Securities held-to-maturity, net of allowance for credit losses $ 1,028,359 During the quarters ended March 31, 2020 and September 30, 2018, Pinnacle Financial transferred, at fair value, $873.6 million and $179.8 million, respectively, of municipal securities from the available-for-sale portfolio to the held-to-maturity portfolio. The related net unrealized after tax gains of $69.0 million and net unrealized after tax losses of $2.2 million, respectively, remained in accumulated other comprehensive income (loss) and will be amortized over the remaining life of the securities, offsetting the related amortization of discount or premium on the transferred securities. No gains or losses were recognized at the time of the transfer. At March 31, 2021, approximately $609.8 million of securities within Pinnacle Financial's investment portfolio were pledged to secure either public funds and other deposits or securities sold under agreements to repurchase. At March 31, 2021, repurchase agreements comprised of secured borrowings totaled $172.1 million and were secured by $172.1 million of pledged U.S. government agency securities, municipal securities, asset-backed securities, and corporate debentures. As the fair value of securities pledged to secure repurchase agreements may decline, Pinnacle Financial regularly evaluates its need to pledge additional securities to remain adequately secured. The amortized cost and fair value of debt securities as of March 31, 2021 by contractual maturity are shown below. Actual maturities may differ from contractual maturities of mortgage- and asset-backed securities since the mortgages and assets underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories in the following summary (in thousands): Available-for-sale Held-to-maturity March 31, 2021: Amortized Fair Amortized Fair Due in one year or less $ 88,478 $ 88,502 $ — $ — Due in one year to five years 13,022 13,266 1,409 1,476 Due in five years to ten years 265,259 278,713 7,152 7,223 Due after ten years 1,479,282 1,496,065 1,005,982 1,025,050 Mortgage-backed securities 1,583,670 1,609,778 — — Asset-backed securities 191,005 190,695 — — $ 3,620,716 $ 3,677,019 $ 1,014,543 $ 1,033,749 At March 31, 2021 and December 31, 2020, the following investments had unrealized losses. The table below classifies these investments according to the term of the unrealized losses of less than twelve months or twelve months or longer (in thousands): Investments with an Unrealized Loss of Investments with an Unrealized Loss of Total Investments with an Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized At March 31, 2021 U.S. Treasury securities $ — $ — $ — $ — $ — $ — U.S. government agency securities 109,710 3,355 5,701 26 115,411 3,381 Mortgage-backed securities 427,992 14,434 30,072 379 458,064 14,813 State and municipal securities 287,208 4,779 253,998 4,379 541,206 9,158 Asset-backed securities 62,619 662 13,228 30 75,847 692 Corporate notes 13,995 5 25,450 1,848 39,445 1,853 Total temporarily-impaired securities $ 901,524 $ 23,235 $ 328,449 $ 6,662 $ 1,229,973 $ 29,897 At December 31, 2020 U.S. Treasury securities $ — $ — $ — $ — $ — $ — U.S. government agency securities 9,962 38 6,091 22 16,053 60 Mortgage-backed securities 165,696 1,772 35,997 555 201,693 2,327 State and municipal securities 175,115 2,220 345,435 10,264 520,550 12,484 Asset-backed securities 46,399 207 52,840 450 99,239 657 Corporate notes 9,978 40 23,920 2,269 33,898 2,309 Total temporarily-impaired securities $ 407,150 $ 4,277 $ 464,283 $ 13,560 $ 871,433 $ 17,837 The applicable dates for determining when securities were in an unrealized loss position were March 31, 2021 and December 31, 2020. As such, it is possible that a security had a market value less than its amortized cost on other days during the past twelve-month pe riods ended March 31, 2021 and December 31, 2020, but is not in the "Investments with an Unrealized Loss of less t han 12 months" category above. As shown in the tables above, including both available-for-sale and held-to-maturity investment securities, at March 31, 2021, Pinnacle Financial had approximately $29.9 million in unrealized losses on $1.2 billion of securities. The unrealized losses associated with $873.6 million and $179.8 million of municipal securities transferred from the available-for-sale portfolio to the held-to-maturity portfolio during the quarters ended March 31, 2020 and September 30, 2018, respectively, represent unrealized losses since the date of purchase, independent of the impact associated with changes in the cost basis upon transfer between portfolios. For any securities classified as available-for-sale that are in an unrealized loss position at the balance sheet date, Pinnacle Financial assesses whether or not it intends to sell the security, or more likely than not will be required to sell the security, before recovery of its amortized cost basis which would require a write-down to fair value through net income. Because Pinnacle Financial currently does not intend to sell those securities that have an unrealized loss at March 31, 2021, and it is not more-likely-than-not that Pinnacle Financial will be required to sell the securities before recovery of their amortized cost bases, which may be maturity, Pinnacle Financial has determined that no write-down is necessary. In addition, Pinnacle Financial evaluates whether any portion of the decline in fair value is the result of credit deterioration, which would require the recognition of an allowance for credit losses. Such evaluations consider the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security. The unrealized losses associated with securities at March 31, 2021 are driven by changes in interest rates and are not due to the credit quality of the securities, and accordingly, no allowance for credit losses is considered necessary related to available-for-sale securities at March 31, 2021. These securities will continue to be monitored as a part of Pinnacle Financial's ongoing evaluation of credit quality. Management evaluates the financial performance of the issuers on a quarterly basis to determine if it is probable that the issuers can make all contractual principal and interest payments. The allowance for credit losses on held-to-maturity securities is measured on a collective basis by major security type. At March 31, 2021, Pinnacle Financial's held-to-maturity securities consist entirely of municipal securities. The estimates of expected credit losses are based on historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. A reasonable and supportable period of 18 months and reversion period of 12 months was utilized to estimate credit losses on held-to-maturity municipal securities at each of March 31, 2021 and 2020. At March 31, 2021 and December 31, 2020, the estimated allowance for credit losses on these securities was $198,000 and $191,000, respectively, with the change driven largely by changes in macroeconomic projections. Pinnacle Financial utilizes bond credit ratings assigned by third party ratings agencies to monitor the credit quality of debt securities held-to-maturity. At March 31, 2021, all debt securities classified as held-to-maturity were rated A or higher by the ratings agencies. Updated credit ratings are obtained as they become available from the ratings agencies. Periodically, available-for-sale securities may be sold or the composition of the portfolio realigned to improve yields, quality or marketability, or to implement changes in investment or asset/liability strategy, including maintaining collateral requirements and raising funds for liquidity purposes or preparing for anticipated changes in market interest rates. Additionally, if an available-for-sale security loses its investment grade or tax-exempt status, the underlying credit support is terminated or collection otherwise becomes uncertain based on factors known to management, Pinnacle Financial will consider selling the security, but will review each security on a case-by-case basis as these factors become known. During the three months ended March 31, 2021, no available-for-sale securities were sold and no amounts related to gains or losses on sales of available-for-sale securities were reclassified from accumulated other comprehensive income into net income. Pinnacle Financial has entered into various fair value hedging transactions to mitigate the impact of changing interest rates on the fair values of available for sale securities. See Note 8. Derivative Instruments for disclosure of the gains and losses recognized on derivative instruments and the cumulative fair value hedging adjustments to the carrying amount of the hedged securities.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Loans and Allowance for Credit Losses	Note 4. Loans and Allowance for Credit Losses For financial reporting purposes, Pinnacle Financial classifies its loan portfolio based on the underlying collateral utilized to secure each loan. This classification is consistent with those utilized in the Quarterly Report of Condition and Income filed by Pinnacle Bank with the Federal Deposit Insurance Corporation (FDIC). Pinnacle Financial uses the following loan categories for presentation of loan balances and the related allowance for credit losses on loans: • Owner occupied commercial real estate mortgage loans - Owner occupied commercial real estate mortgage loans are secured by commercial office buildings, industrial buildings, warehouses or retail buildings where the owner of the building occupies the property. For such loans, repayment is largely dependent upon the operation of the borrower's business. • Non-owner occupied commercial real estate loans - These loans represent investment real estate loans secured by office buildings, industrial buildings, warehouses, retail buildings, and multifamily residential housing. Repayment is primarily dependent on lease income generated from the underlying collateral. • Consumer real estate mortgage loans - Consumer real estate mortgage consists primarily of loans secured by 1-4 family residential properties, including home equity lines of credit. Repayment is primarily dependent on the personal cash flow of the borrower. • Construction and land development loans - Construction and land development loans include loans where the repayment is dependent on the successful completion and eventual sale, refinance or operation of the related real estate project. Construction and land development loans include 1-4 family construction projects and commercial construction endeavors such as warehouses, apartments, office and retail space and land acquisition and development. • Commercial and industrial loans - Commercial and industrial loans include loans to business enterprises issued for commercial, industrial and/or other professional purposes. These loans are generally secured by equipment, inventory, and accounts receivable of the borrower and repayment is primarily dependent on business cash flows. Loans totaling $2.2 billion and $1.8 billion granted under the Paycheck Protection Program are included in this category as of March 31, 2021, and December 31, 2020, respectively. • Consumer and other loans - Consumer and other loans include all loans issued to individuals not included in the consumer real estate mortgage classification. Examples of consumer and other loans are automobile loans, consumer credit cards and loans to finance education, among others. Many consumer loans are unsecured. Repayment is primarily dependent on the personal cash flow of the borrower. Loans at March 31, 2021 and December 31, 2020 were as follows: March 31, 2021 December 31, 2020 Commercial real estate: Owner occupied $ 2,869,785 $ 2,802,227 Non-owner occupied 5,573,181 5,203,384 Consumer real estate – mortgage 3,086,916 3,099,172 Construction and land development 2,568,969 2,901,746 Commercial and industrial 8,576,528 8,038,457 Consumer and other 411,322 379,515 Subtotal $ 23,086,701 $ 22,424,501 Allowance for credit losses (280,881) (285,050) Loans, net $ 22,805,820 $ 22,139,451 Commercial loans receive risk ratings assigned by a financial advisor subject to validation by Pinnacle Financial's independent loan review department. Risk ratings are categorized as pass, special mention, substandard, substandard-nonaccrual or doubtful-nonaccrual. Pass rated loans include multiple ratings categories representing varying degrees of risk attributes lesser than those of the other defined risk categories further described below. Pinnacle Financial believes its categories follow those used by Pinnacle Bank's primary regulators. At March 31, 2021, approximately 78.2% of Pinnacle Financial's loan portfolio was analyzed as a commercial loan type with a specifically assigned risk rating. Consumer loans and small business loans are generally not assigned an individual risk rating but are evaluated as either accrual or nonaccrual based on the performance of the individual loans. However, certain consumer real estate-mortgage loans and certain consumer and other loans receive a specific risk rating due to the loan proceeds being used for commercial purposes even though the collateral may be of a consumer loan nature. Consumer loans that have been placed on nonaccrual but have not otherwise been assigned a risk rating are believed by management to share risk characteristics with loans rated substandard-nonaccrual and have been presented as such in Pinnacle Financial's risk rating disclosures. Risk ratings are subject to continual review by a financial advisor and a senior credit officer. At least annually, Pinnacle Financial's credit procedures require every risk rated loan of $1.0 million or more be subject to a formal credit risk review process. Each loan's risk rating is also subject to review by Pinnacle Financial's independent loan review department, which reviews a substantial portion of Pinnacle Financial's risk rated portfolio annually. Included in the coverage are independent reviews of loans in targeted higher-risk portfolio segments such as certain commercial and industrial loans, land loans and/or loan types in certain geographies. Substantial credit risk review procedures have been performed to assess the impacts of the COVID-19 pandemic on the loan portfolio, and the results of these procedures are reflected in Pinnacle Financial's risk rating disclosures as of March 31, 2021. Following are the definitions of the risk rating categories used by Pinnacle Financial. Pass rated loans include all credits other than those included within these categories: • Special mention loans have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in Pinnacle Financial's credit position at some future date. • Substandard loans are inadequately protected by the current net worth and financial capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize collection of the debt. Substandard loans are characterized by the distinct possibility that Pinnacle Financial could sustain some loss if the deficiencies are not corrected. • Substandard-nonaccrual loans are substandard loans that have been placed on nonaccrual status. • Doubtful-nonaccrual loans have all the characteristics of substandard-nonaccrual loans with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of March 31, 2021 (in thousands): March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Total Commercial real estate - Owner occupied Pass $ 185,030 $ 818,913 $ 454,195 $ 415,769 $ 287,792 $ 482,233 $ 75,410 $ 2,719,342 Special Mention 843 21,745 23,153 18,193 9,943 7,773 100 81,750 Substandard (1) — 15,418 6,878 7,720 12,034 9,215 4,405 55,670 Substandard-nonaccrual 469 4,175 143 2,882 825 4,529 — 13,023 Doubtful-nonaccrual — — — — — — — — Total Commercial real estate - owner occupied $ 186,342 $ 860,251 $ 484,369 $ 444,564 $ 310,594 $ 503,750 $ 79,915 $ 2,869,785 Commercial real estate - Non-owner occupied Pass $ 363,560 $ 1,195,970 $ 1,148,016 $ 655,692 $ 460,511 $ 753,838 $ 76,477 $ 4,654,064 Special Mention 4,790 499,220 128,032 49,715 104,627 101,186 35 887,605 Substandard (1) 3,364 12,177 1,634 3,092 1,687 6,099 — 28,053 Substandard-nonaccrual 91 3 416 573 — 2,376 — 3,459 Doubtful-nonaccrual — — — — — — — — Total Commercial real estate - Non-owner occupied $ 371,805 $ 1,707,370 $ 1,278,098 $ 709,072 $ 566,825 $ 863,499 $ 76,512 $ 5,573,181 Consumer real estate – mortgage Pass $ 208,011 $ 703,564 $ 432,848 $ 278,303 $ 146,508 $ 374,293 $ 917,280 $ 3,060,807 Special Mention 121 — — 710 66 957 — 1,854 Substandard (1) — 661 — — 183 1,872 1,760 4,476 Substandard-nonaccrual 82 243 3,413 807 1,223 11,347 2,664 19,779 Doubtful-nonaccrual — — — — — — — — Total Consumer real estate – mortgage $ 208,214 $ 704,468 $ 436,261 $ 279,820 $ 147,980 $ 388,469 $ 921,704 $ 3,086,916 Construction and land development Pass $ 230,571 $ 1,127,479 $ 817,068 $ 275,489 $ 32,141 $ 19,315 $ 11,414 $ 2,513,477 Special Mention 1,501 38,796 8,638 — — 4,243 — 53,178 Substandard (1) — 354 14 25 — 363 — 756 Substandard-nonaccrual — 363 524 68 74 529 — 1,558 Doubtful-nonaccrual — — — — — — — — Total Construction and land development $ 232,072 $ 1,166,992 $ 826,244 $ 275,582 $ 32,215 $ 24,450 $ 11,414 $ 2,568,969 Commercial and industrial Pass $ 1,680,983 $ 2,677,307 $ 869,499 $ 485,136 $ 220,590 $ 174,287 $ 2,219,361 $ 8,327,163 Special Mention 1,345 33,321 64,578 3,682 6,611 3,115 30,554 143,206 Substandard (1) 2,099 22,656 15,010 11,797 2,462 2,345 15,502 71,871 Substandard-nonaccrual 637 21,364 4,534 527 470 497 6,259 34,288 Doubtful-nonaccrual — — — — — — — — Total Commercial and industrial $ 1,685,064 $ 2,754,648 $ 953,621 $ 501,142 $ 230,133 $ 180,244 $ 2,271,676 $ 8,576,528 Consumer and other Pass $ 93,203 $ 120,548 $ 13,895 $ 5,065 $ 5,453 $ 4,164 $ 168,966 $ 411,294 Special Mention — — — — — — — — Substandard (1) — — — — — — — — Substandard-nonaccrual — — — — 25 3 — 28 Doubtful-nonaccrual — — — — — — — — Total Consumer and other $ 93,203 $ 120,548 $ 13,895 $ 5,065 $ 5,478 $ 4,167 $ 168,966 $ 411,322 Total loans Pass $ 2,761,358 $ 6,643,781 $ 3,735,521 $ 2,115,454 $ 1,152,995 $ 1,808,130 $ 3,468,908 $ 21,686,147 Special Mention 8,600 593,082 224,401 72,300 121,247 117,274 30,689 1,167,593 Substandard (1) 5,463 51,266 23,536 22,634 16,366 19,894 21,667 160,826 Substandard-nonaccrual 1,279 26,148 9,030 4,857 2,617 19,281 8,923 72,135 Doubtful-nonaccrual — — — — — — — — Total loans $ 2,776,700 $ 7,314,277 $ 3,992,488 $ 2,215,245 $ 1,293,225 $ 1,964,579 $ 3,530,187 $ 23,086,701 (1) Potential problem loans represent those loans with a well-defined weakness and where information about possible credit problems of borrowers has caused management to have doubts about the borrower's ability to comply with present repayment terms. This definition is believed to be substantially consistent with the standards established by Pinnacle Bank's primary regulators for loans classified as substandard, excluding troubled debt restructurings. Potential problem loans, which are not included in nonaccrual loans, amounted to approximately $160.8 million at March 31, 2021, compared to $173.5 million at December 31, 2020. The table below presents the aging of past due balances by loan segment at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 30-59 days past due 60-89 days past due 90 days or more past due Total Current Total loans Commercial real estate: Owner-occupied $ 1,906 $ 69 $ 2,957 $ 4,932 $ 2,864,853 $ 2,869,785 Non-owner occupied 1,714 — 2,526 4,240 5,568,941 5,573,181 Consumer real estate – mortgage 5,303 790 5,816 11,909 3,075,007 3,086,916 Construction and land development 137 — 383 520 2,568,449 2,568,969 Commercial and industrial 10,913 2,895 4,377 18,185 8,558,343 8,576,528 Consumer and other 797 223 342 1,362 409,960 411,322 Total $ 20,770 $ 3,977 $ 16,401 $ 41,148 $ 23,045,553 $ 23,086,701 December 31, 2020 Commercial real estate: Owner-occupied $ 934 $ 2,672 $ 1,860 $ 5,466 $ 2,796,761 $ 2,802,227 Non-owner occupied 726 6,220 3,861 10,807 5,192,577 5,203,384 Consumer real estate – mortgage 8,859 328 6,274 15,461 3,083,711 3,099,172 Construction and land development 278 418 736 1,432 2,900,314 2,901,746 Commercial and industrial 20,278 5,801 4,408 30,487 8,007,970 8,038,457 Consumer and other 806 282 304 1,392 378,123 379,515 Total $ 31,881 $ 15,721 $ 17,443 $ 21,260 $ 65,045 $ 22,359,456 $ 22,424,501 The following table details the changes in the allowance for credit losses for the three months ended March 31, 2021 and 2020, respectively, by loan classification (in thousands): Commercial real estate - Owner occupied Commercial real estate - Non-owner occupied Consumer Construction and land development Commercial and industrial Consumer Unallocated Total Three months ended March 31, 2021: Balance at December 31, 2020 $ 23,298 $ 79,132 $ 33,304 $ 42,408 $ 98,423 $ 8,485 $ — $ 285,050 Charged-off loans (697) (140) (371) (367) (11,749) (950) — (14,274) Recovery of previously charged-off loans 602 12 365 37 1,206 655 — 2,877 Provision for credit losses on loans (1,138) 1,515 (3,099) (4,436) 13,196 1,190 — 7,228 Balance at March 31, 2021 $ 22,065 $ 80,519 $ 30,199 $ 37,642 $ 101,076 $ 9,380 $ — $ 280,881 Three months ended March 31, 2020: Balance at December 31, 2019 $ 13,406 $ 19,963 $ 8,054 $ 12,662 $ 36,112 $ 3,595 $ 985 $ 94,777 Impact of adopting ASC 326 264 (4,740) 21,029 (3,144) 23,040 2,638 (985) 38,102 Charged-off loans (1,561) (261) (930) — (7,734) (1,207) — (11,693) Recovery of previously charged-off loans 145 93 190 43 748 319 — 1,538 Provision for credit losses on loans 11,380 17,059 4,655 29,350 35,894 1,403 — 99,741 Balance at March 31, 2020 $ 23,634 $ 32,114 $ 32,998 $ 38,911 $ 88,060 $ 6,748 $ — $ 222,465 The adequacy of the allowance for credit losses is reviewed by Pinnacle Financial's management on a quarterly basis. This assessment includes procedures to estimate the allowance and test the adequacy and appropriateness of the resulting balance. The level of the allowance is based upon management's evaluation of historical default and loss experience, current and projected economic conditions, asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrowers' ability to repay the loan (including the timing of future payment), the estimated value of any underlying collateral, composition of the loan portfolio, industry and peer bank loan quality indications and other pertinent factors, including regulatory recommendations. The level of the allowance for credit losses maintained by management is believed adequate to absorb all expected future losses inherent in the loan portfolio at the balance sheet date. The allowance is increased by provisions charged to expense and decreased by charge-offs, net of recoveries of amounts previously charged-off. Pinnacle Financial adopted ASU 2016-13 on January 1, 2020, which introduced the CECL methodology for estimating all expected losses over the life of a financial asset. Under the CECL methodology the allowance for credit losses is measured on a collective basis for pools of loans with similar risk characteristics, and for loans that do not share similar risk characteristics with the collectively evaluated pools, evaluations are performed on an individual basis. Upon adoption of ASU 2016-13 in 2020, the opening balance of the allowance for credit losses was increased by $38.1 million through retained earnings. For commercial real estate, consumer real estate, construction and land development, and commercial and industrial loans, Pinnacle Financial primarily utilizes a probability of default and loss given default modeling approach. These models utilize historical correlations between default experience and certain macroeconomic factors as determined through a statistical regression analysis. All loan segments modeled using this approach consider changes in the national unemployment rate. In addition to the national unemployment rate, GDP and the three month treasury rate are considered for owner occupied commercial real estate, the commercial real estate price index and the five year treasury rate are considered for construction loans, and the three month treasury rate is considered for commercial and industrial loans. For the consumer and other loan segment, a non-statistical approach based on historical charge off rates is utilized. Losses are predicted over a period of time determined to be reasonable and supportable, and at the end of the reasonable and supportable period losses are reverted to long term historical averages. The reasonable and supportable period and reversion period are re-evaluated each quarter by Pinnacle Financial and are dependent on the current economic environment among other factors. At March 31, 2021 and December 31, 2020, a reasonable and supportable period of 18 months was utilized for all loan segments, followed by a 12 month straight line reversion to long term averages. The estimated loan losses for all loan segments are adjusted for changes in qualitative factors not inherently considered in the quantitative analyses. These adjustments are based upon quarterly trend assessments in portfolio concentrations, policy exceptions, associate retention, independent loan review results, collateral considerations, risk ratings, competition and peer group credit quality trends. The qualitative allowance allocation, as determined by the processes noted above, is increased or decreased for each loan segment based on the assessment of these various qualitative factors. Loans that do not share similar risk characteristics with the collectively evaluated pools are evaluated on an individual basis and are excluded from the collectively evaluated pools. Individual evaluations are generally performed for loans greater than $1.0 million which have experienced significant credit deterioration. Such loans are evaluated for credit losses based on either discounted cash flows or the fair value of collateral. The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, as of March 31, 2021 and December 31, 2020 (in thousands): Real Estate Business Assets Other Total March 31, 2021 Commercial real estate: Owner-occupied $ 19,165 $ — $ — $ 19,165 Non-owner occupied 5,187 — — 5,187 Consumer real estate – mortgage 24,683 — — 24,683 Construction and land development 1,648 — — 1,648 Commercial and industrial — 11,888 634 12,522 Consumer and other — — 28 28 Total $ 50,683 $ 11,888 $ 662 $ 63,233 Real Estate Business Assets Other Total December 31, 2020 Commercial real estate: Owner-occupied $ 15,681 $ — $ — $ 15,681 Non-owner occupied 7,000 — — 7,000 Consumer real estate – mortgage 27,082 — — 27,082 Construction and land development 2,049 — — 2,049 Commercial and industrial — 22,437 39 22,476 Consumer and other — — 4 4 Total $ 51,812 $ 22,437 $ 43 $ 74,292 The table below presents the amortized cost basis of loans on nonaccrual status and loans past due 90 or more days and still accruing interest at March 31, 2021 and December 31, 2020. Also presented is the balance of loans on nonaccrual status at March 31, 2021 for which there was no related allowance for credit losses recorded (in thousands): March 31, 2021 December 31, 2020 Total nonaccrual loans Nonaccrual loans with no allowance for credit losses Loans past due 90 or more days and still accruing Total nonaccrual loans Nonaccrual loans with no allowance for credit losses Loans past due 90 or more days and still accruing Commercial real estate: Owner-occupied $ 13,023 $ 8,955 $ — $ 10,231 $ 5,985 $ — Non-owner occupied 3,459 — — 5,219 1,522 — Consumer real estate – mortgage 19,779 — — 22,191 — 273 Construction and land development 1,558 — — 1,953 — — Commercial and industrial 34,288 27,862 2,491 34,238 29,030 1,785 Consumer and other 28 — 342 4 — 304 Total $ 72,135 $ 36,817 $ 2,833 $ 73,836 $ 36,537 $ 2,362 Pinnacle Financial's policy is the accrual of interest income will be discontinued when (1) there is a significant deterioration in the financial condition of the borrower and full repayment of principal and interest is not expected or (2) the principal or interest is more than 90 days past due, unless the loan is both well secured and in the process of collection. As such, at the date loans are placed on nonaccrual status, Pinnacle Financial reverses all previously accrued interest income against current year earnings. Pinnacle Financial's policy is once a loan is placed on nonaccrual status each subsequent payment is reviewed on a case-by-case basis to determine if the payment should be applied to interest or principal pursuant to regulatory guidelines. Pinnacle Financial recognized no interest income from cash payments received on nonaccrual loans during the three months ended March 31, 2021 and the three months ended March 31, 2020, respectively. Had these loans been on accruing status, an additional $696,000 of interest income would have been recognized for the three months ended March 31, 2021, compared to an additional $713,000 for the three months ended March 31, 2020. Approximately $51.7 million of nonaccrual loans as of each of March 31, 2021 and December 31, 2020 were performing pursuant to their contractual terms at those dates. At both March 31, 2021 and December 31, 2020, there were $2.5 million of troubled debt restructurings that were performing as of their restructure date and which were accruing interest. Troubled commercial loans are restructured by specialists within Pinnacle Bank's Special Assets Group, and all restructurings are approved by committees and/or credit officers separate and apart from the normal loan approval process. These specialists are charged with reducing Pinnacle Financial's overall risk and exposure to loss in the event of a restructuring by obtaining some or all of the following: improved documentation, additional guaranties, increase in curtailments, reduction in collateral release terms, additional collateral or other similar strategies. There were no troubled debt restructurings made during the three months ended March 31, 2021. During the three months ended March 31, 2021 and 2020, there were no troubled debt restructurings that subsequently defaulted within twelve months of the restructuring.The following table outlines the amount of each loan category where troubled debt restructurings were made during the three months ended March 31, 2020 (in thousands): March 31, 2020 Number Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, net of related allowance Consumer real estate – mortgage 1 807 807 In response to the COVID-19 pandemic and its economic impact to its customers, Pinnacle Bank implemented a short-term modification program in accordance with interagency regulatory guidance to provide temporary payment relief to those borrowers directly impacted by COVID-19 who were not more than 30 days past due at the time of the modification. This program allows for a deferral of payments for 90 days, which Pinnacle Bank may extend for an additional 90 days, for a maximum of 180 days on a cumulative and successive basis. Pursuant to interagency guidance, such short-term deferrals are not deemed to meet the criteria for reporting as troubled debt restructurings. For borrowers requiring a longer-term modification following the short-term loan modification program, Pinnacle Financial worked with these borrowers whose loans were not more than 30 days past due at December 31, 2019 and who required modifications as a result of COVID-19 to modify such loans under Section 4013 of the CARES Act. The outstanding balances at March 31, 2021 of loans which have received such modifications was $835.1 million. In accordance with the provisions of the CARES Act, these modifications have not been classified as TDRs. Pinnacle Financial analyzes its commercial loan portfolio to determine if a concentration of credit risk exists to any industries. Pinnacle Financial utilizes broadly accepted industry classification systems in order to classify borrowers into various industry classifications. Pinnacle Financial has a credit exposure (loans outstanding plus unfunded lines of credit) exceeding 25% of Pinnacle Bank's total risk-based capital to borrowers in the following industries at March 31, 2021 with the comparative exposures for December 31, 2020 (in thousands): March 31, 2021 Outstanding Principal Balances Unfunded Commitments Total exposure Total Exposure at December 31, 2020 Lessors of nonresidential buildings $ 3,553,989 $ 1,053,464 $ 4,607,453 $ 4,442,712 Lessors of residential buildings 1,348,050 814,962 2,163,012 2,126,246 Hotels (except Casino Hotels) and Motels 988,712 71,837 1,060,549 1,039,259 New Housing For-Sale Builders 489,417 747,732 1,237,149 1,124,302 Pinnacle Financial monitors two ratios regarding construction and commercial real estate lending as part of its concentration management processes. Both ratios are calculated by dividing certain types of loan balances for each of the two categories by Pinnacle Bank’s total risk-based capital. At March 31, 2021 and December 31, 2020, Pinnacle Bank’s construction and land development loans as a percentage of total risk-based capital were 76.0% and 89.0%, respectively. Non-owner occupied commercial real estate and multifamily loans (including construction and land development loans) as a percentage of total risk-based capital were 256.0% and 264.0% as of March 31, 2021 and December 31, 2020, respectively. Banking regulations have established guidelines for the construction ratio of less than 100% of total risk-based capital and for the non-owner occupied ratio of less than 300% of total risk-based capital. When a bank’s ratios are in excess of one or both of these guidelines, banking regulations generally require an increased level of monitoring in these lending areas by bank management. At March 31, 2021, Pinnacle Bank was within the 100% and 300% guidelines and has established what it believes to be appropriate controls to monitor its lending in these areas as it aims to keep the level of these loans below the 100% and 300% thresholds. At March 31, 2021, Pinnacle Bank had granted loans and other extensions of credit amounting to approximately $8.2 million to current directors, executive officers, and their related interests, of which $5.6 million had been drawn upon. At December 31, 2020, Pinnacle Bank had granted loans and other extensions of credit amounting to approximately $10.7 million to directors, executive officers, and their related interests, of which approximately $6.8 million had been drawn upon. All loans to directors, executive officers, and their related interests were performing in accordance with contractual terms at March 31, 2021 and December 31, 2020. At March 31, 2021, Pinnacle Financial had approximately $12.5 million in commercial loans held for sale compared to $31.2 million at December 31, 2020, which primarily included commercial real estate and apartment loans originated for sale to a third-party as part of a multi-family loan program. Such loans are closed under a pass-through commitment structure wherein Pinnacle Bank's loan commitment to the borrower is the same as the third party's take-out commitment to Pinnacle Bank and the third party purchase typically occurs within thirty days of Pinnacle Bank closing with the borrowers. Residential Lending At March 31, 2021, Pinnacle Financial had approximately $71.7 million of mortgage loans held-for-sale compared to approximately $67.8 million at December 31, 2020. Total loan volumes sold during the three months ended March 31, 2021 were approximately $547.0 million compared to approximately $286.7 million for the three months ended March 31, 2020. During the three months ended March 31, 2021, Pinnacle Financial recognized $13.7 million in gains on the sale of these loans, net of commissions paid, compared to $8.6 million during the three months ended March 31, 2020. These mortgage loans held-for-sale are originated internally and are primarily to borrowers in Pinnacle Bank's geographic markets. These sales are typically on a mandatory basis to investors that follow conventional government sponsored entities (GSE) and the Department of Housing and Urban Development/U.S. Department of Veterans Affairs (HUD/VA) guidelines. Each purchaser of a mortgage loan held-for-sale has specific guidelines and criteria for sellers of loans and the risk of credit loss with regard to the principal amount of the loans sold is generally transferred to the purchasers upon sale. While the loans are sold without recourse, the purchase agreements require Pinnacle Bank to make certain representations and warranties regarding the existence and sufficiency of file documentation and the absence of fraud by borrowers or other third parties such as appraisers in connection with obtaining the loan. If it is determined that the loans sold were in breach of these representations or warranties, Pinnacle Bank has obligations to either repurchase the loan for the unpaid principal balance and related investor fees or make the purchaser whole for the economic benefits of the loan. To date, Pinnacle Bank's liability pursuant to the terms of these representations and warranties has been insignificant to Pinnacle Bank.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes ASC 740, Income Taxes , defines the threshold for recognizing the benefits of tax return positions in the financial statements as "more-likely-than-not" to be sustained by the taxing authority. This section also provides guidance on the derecognition, measurement and classification of income tax uncertainties, along with any related interest and penalties, and includes guidance concerning accounting for income tax uncertainties in interim periods. The unrecognized tax benefit related to uncertain tax positions related to state income tax filings was $9.7 million at March 31, 2021 and December 31, 2020, respectively. No change was recorded to the unrecognized tax benefit related to uncertain tax positions in each of the three month periods ended March 31, 2021 and 2020. Pinnacle Financial's policy is to recognize interest and/or penalties related to income tax matters in income tax expense. For both the three months ended March 31, 2021 and 2020, respectively, there were no interest and penalties recorded in the income statement. Pinnacle Financial's effective tax rate for the three months ended March 31, 2021 was 18.4% compared to a benefit of 6.2% for the three months ended March 31, 2020. The difference between the effective tax rate and the federal and state income tax statutory rate of 26.14% at March 31, 2021 and 2020 is primarily due to investments in bank qualified municipal securities, tax benefits of Pinnacle Bank's real estate investment trust subsidiary, participation in the Tennessee Community Investment Tax Credit (CITC) program, and tax benefits associated with share-based compensation, bank-owned life insurance and Pinnacle Financial's captive insurance subsidiary, offset in part by the limitation on deductibility of meals and entertainment expense, non-deductible FDIC premiums and non-deductible executive compensation. Income tax expense is also impacted by the vesting of equity-based awards and the exercise of employee stock options, which expense or benefit is recorded as a discrete item as a component of total income tax, the amount of which is dependent upon the change in the grant date fair value and the vest date fair value of the underlying award. Accordingly, for the three months ended March 31, 2021 we recognized excess tax benefits of $1.6 million compared to benefits of $862,000 for the three months ended March 31, 2020. For the three months ended March 31, 2020, income tax expense was also meaningfully impacted by provision for credit losses, including provision for credit losses resulting from the COVID-19 pandemic, which was recorded as a discrete item as a component of total income tax and contributed to a tax benefit of $22.4 million for the three months ended March 31, 2020.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Note 6. Commitments and Contingent Liabilities In the normal course of business, Pinnacle Financial has entered into off-balance sheet financial instruments which include commitments to extend credit (i.e., including unfunded lines of credit) and standby letters of credit. Commitments to extend credit are usually the result of lines of credit granted to existing borrowers under agreements that the total outstanding indebtedness will not exceed a specific amount during the term of the indebtedness. Typical borrowers are commercial concerns that use lines of credit to supplement their treasury management functions, thus their total outstanding indebtedness may fluctuate during any time period based on the seasonality of their business and the resultant timing of their cash flows. Other typical lines of credit are related to home equity loans granted to consumers. Commitments to extend credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. At March 31, 2021, these commitments amounted to $10.2 billion, of which approximately $1.2 billion related to home equity lines of credit. Standby letters of credit are generally issued on behalf of an applicant (customer) to a specifically named beneficiary and are the result of a particular business arrangement that exists between the applicant and the beneficiary. Standby letters of credit have fixed expiration dates and are usually for terms of two years or less unless terminated beforehand due to criteria specified in the standby letter of credit. A typical arrangement involves the applicant routinely being indebted to the beneficiary for such items as inventory purchases, insurance, utilities, lease guarantees or other third party commercial transactions. The standby letter of credit would permit the beneficiary to obtain payment from Pinnacle Financial under certain prescribed circumstances. Subsequently, Pinnacle Financial would then seek reimbursement from the applicant pursuant to the terms of the standby letter of credit. At March 31, 2021, these commitments amounted to $237.7 million. Pinnacle Financial typically follows the same credit policies and underwriting practices when making these commitments as it does for on-balance sheet instruments. Each customer's creditworthiness is typically evaluated on a case-by-case basis, and the amount of collateral obtained, if any, is based on management's credit evaluation of the customer. Collateral held varies but may include cash, real estate and improvements, marketable securities, accounts receivable, inventory, equipment and personal property. The contractual amounts of these commitments are not reflected in the consolidated financial statements and only amounts drawn upon would be reflected in the future. Since many of the commitments are expected to expire without being drawn upon, the contractual amounts do not necessarily represent future cash requirements. However, should the commitments be drawn upon and should Pinnacle Bank's customers default on their resulting obligation to Pinnacle Bank, the maximum exposure to credit loss, without consideration of collateral, is represented by the contractual amount of those commitments. At March 31, 2021 and December 31, 2020, Pinnacle Financial had accrued $23.2 million for the inherent risks associated with these off-balance sheet commitments. Various legal claims also arise from time to time in the normal course of business. In the opinion of management, the resolutions of these claims outstanding at March 31, 2021 are not expected to have a material adverse impact on Pinnacle Financial's consolidated financial condition, operating results or cash flows.

Stock Options and Restricted Sh

Stock Options and Restricted Shares	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Options and Restricted Shares	Note 7. Stock Options and Restricted Shares Pinnacle Financial's 2018 Omnibus Equity Incentive Plan (the "2018 Plan") permits Pinnacle Financial to reissue outstanding awards that are subsequently forfeited, settled in cash, withheld by Pinnacle Financial to cover withholding taxes or expire unexercised and returned to the 2018 Plan. At March 31, 2021, there were 679,075 shares available for issuance under the 2018 Plan. On April 21, 2021, Pinnacle Financial's common shareholders approved an amendment and restatement of the 2018 Plan that, among other things, authorized an additional 1,350,000 shares for issuance under the 2018 Plan. Upon the acquisition of CapitalMark, Pinnacle Financial assumed approximately 858,000 stock options under the CapitalMark Option Plan. No further awards remain available for issuance under the CapitalMark Option Plan. At March 31, 2021, all of the remaining options outstanding were granted under the CapitalMark Option Plan. Common Stock Options A summary of the stock option activity within the equity incentive plans during the three months ended March 31, 2021 and information regarding expected vesting, contractual terms remaining, intrinsic values and other matters is as follows: Number Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2020 101,769 $ 23.46 1.86 $ 4,169 (1) Granted — Exercised (13,246) Forfeited — Outstanding at March 31, 2021 88,523 $ 23.53 1.63 $ 5,766 (2) Options exercisable at March 31, 2021 88,523 $ 23.53 1.63 $ 5,766 (2) (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $64.40 per common share at December 31, 2020 for the 101,769 options that were in-the-money at December 31, 2020. (2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $88.66 per common share at March 31, 2021 for the 88,523 options that were in-the-money at March 31, 2021. Compensation costs related to stock options granted under Pinnacle Financial's equity incentive plans have been fully recognized and all outstanding option awards are fully vested. Restricted Share Awards A summary of activity for unvested restricted share awards for the three months ended March 31, 2021 is as follows: Number Grant Date Unvested at December 31, 2020 594,669 $ 56.97 Shares awarded 183,839 Restrictions lapsed and shares released to associates/directors (129,599) Shares forfeited (11,420) Unvested at March 31, 2021 637,489 $ 61.00 Pinnacle Financial has granted restricted share awards to associates and outside directors with a time-based vesting criteria. Compensation expense associated with time-based vesting restricted share awards is recognized over the time period that the restrictions associated with the awards lapse on a straight-line basis based on the total cost of the award. The following table outlines restricted stock grants that were made, grouped by similar vesting criteria, during the three months ended March 31, 2021. The table reflects the life-to-date activity for these awards: Grant Group (1) Vesting Period in years Shares Restrictions lapsed and shares released to participants Shares withheld for taxes by participants Shares Forfeited by participants (4) Shares Unvested Time Based Awards 2021 Associates (2) 3 - 5 172,009 18 18 5,102 166,871 Outside Director Awards (3) 2021 Outside directors 1 11,830 — — — 11,830 (1) Groups include employees (referred to as associates above) and outside directors. When the restricted shares are awarded, a participant receives voting rights and forfeitable dividend rights with respect to the shares, but is not able to transfer the shares until the restrictions have lapsed. Once the restrictions lapse, the participant is taxed on the value of the award and may elect to sell some shares (or have Pinnacle Financial withhold some shares) to pay the applicable income taxes associated with the award. Alternatively, the recipient can pay the withholding taxes in cash. For time-based vesting restricted share awards, dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination. For awards to Pinnacle Financial's directors, dividends are placed into escrow until the forfeiture restrictions on such shares lapse. (2) The forfeiture restrictions on these restricted share awards lapse in equal annual installments on the anniversary date of the grant. (3) Restricted share awards are issued to the outside members of the board of directors in accordance with their board compensation plan. Restrictions lapse on March 1, 2022 based on each individual board member meeting attendance goals for the various board and board committee meetings to which each member was scheduled to attend. (4) These shares represent forfeitures resulting from recipients whose employment or board membership was terminated during the year-to-date period ended March 31, 2021. Any dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination or will not be distributed from escrow, as applicable. Restricted Stock Unit Awards In 2021, Pinnacle Financial granted restricted stock units to its Named Executive Officers (NEOs) and leadership team members with time-based vesting criteria. Compensation expense associated with time-based vesting restricted stock unit awards is recognized over the time period that the restrictions associated with the awards lapse on a straight-line basis based on the total cost of the award. The following table outlines restricted stock unit grants that were made, grouped by similar vesting criteria, during the three months ended March 31, 2021. The table reflects the life-to-date activity for these awards: Grant Year Vesting Shares Restrictions lapsed and shares released to participants Shares withheld for taxes by participants Shares Forfeited by participants (1) Shares Unvested 2021 3 56,864 4 3 — 56,857 (1) These shares represent forfeitures resulting from recipients whose employment was terminated during the year-to-date period ended March 31, 2021. Dividend equivalents are held in escrow for award recipients for dividends paid prior to the forfeiture restrictions lapsing. Such dividend equivalents are not released from escrow if an award is forfeited. Performance Stock Unit Awards The following table details the performance stock unit awards outstanding at March 31, 2021: Units Awarded Grant year NEOs (1) Leadership Team other than NEOs Applicable Performance Periods associated with each tranche Service period per tranche Subsequent holding period per tranche Period in which units to be settled into shares of common stock (2) 2021 (3) 89,234 — 214,155 45,240 2021-2023 0 0 2024 2020 136,137 — 204,220 59,648 2020 2 3 2025 2021 2 2 2025 2022 2 1 2025 2019 166,211 — 249,343 52,244 2019 2 3 2024 2020 2 2 2024 2021 2 1 2024 2018 96,878 — 145,339 25,990 2018 2 3 2023 2019 2 2 2023 2020 2 1 2023 2017 72,537 — 109,339 24,916 2017 2 3 2022 2018 2 2 2022 2019 2 1 2022 (1) The named executive officers are awarded a range of awards that may be earned based on attainment of goals between a target level of performance and a maximum level of performance. (2) Performance stock unit awards granted prior to 2021, if earned, will be settled in shares of Pinnacle Financial Common Stock in the periods noted in the table, if Pinnacle Bank's ratio of non-performing assets to its loans plus ORE is less than amounts established in the applicable award agreement. (3) Performance stock unit awards granted in 2021, if earned, will be settled in shares of Pinnacle Financial Common Stock in the period noted in the table, if the performance criterion included in the applicable performance unit award agreement are met. During the three months ended March 31, 2021 and 2020, the restrictions associated with 133,041 and 129,723 performance stock unit awards granted in prior years lapsed, based on the terms of the agreement and approval by Pinnacle Financial's Human Resources and Compensation Committee, and were settled into shares of Pinnacle Financial common stock with 46,332 and 43,996 shares being withheld to pay the taxes associated with the settlement of those shares. Additionally, during the three months ended March 31, 2021, 199,633 performance stock unit awards granted in prior years were forfeited due to the failure to reach performance targets for the year ended December 31, 2020 as defined in the associated performance stock unit award agreements. Stock compensation expense related to restricted share awards, restricted stock unit awards and performance stock unit awards for the three months ended March 31, 2021 was $5.4 million compared to $5.5 million for the three months ended March 31, 2020. As of March 31, 2021, the total compensation cost related to unvested restricted share awards, restricted stock unit awards and performance stock unit awards not yet recognized was $63.9 million. This expense, if the underlying units are earned, is expected to be recognized over a weighted-average period of 1.93 years.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 8. Derivative Instruments Financial derivatives are reported at fair value in other assets or other liabilities. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship and classification as either a cash flow hedge or fair value hedge for those derivatives which are designated as part of a hedging relationship. Non-hedge derivatives For derivatives not designated as hedges, the gain or loss is recognized in current period earnings. Pinnacle Financial enters into interest rate swaps (swaps) to facilitate customer transactions and meet their financing needs. Upon entering into these instruments to meet customer needs, Pinnacle Financial enters into offsetting positions in order to minimize the risk to Pinnacle Financial. These swaps qualify as derivatives, but are not designated as hedging instruments. The income statement impact of the offsetting positions is limited to changes in the reserve for counterparty credit risk. A summary of Pinnacle Financial's interest rate swaps to facilitate customers' transactions as of March 31, 2021 and December 31, 2020 is included in the following table (in thousands): March 31, 2021 December 31, 2020 Notional Estimated Notional Estimated Interest rate swap agreements: Assets $ 1,618,283 $ 67,351 $ 1,565,916 $ 101,602 Liabilities 1,618,283 (68,218) 1,565,916 (102,919) Total $ 3,236,566 $ (867) $ 3,131,832 $ (1,317) The effects of Pinnacle Financial's interest rate swaps to facilitate customers' transactions on the income statement during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Amount of Gain (Loss) Recognized in Income Location of Loss Recognized in Income Three Months Ended March 31, 2021 2020 Interest rate swap agreements Other noninterest income $ 450 $ (343) Derivatives designated as cash flow hedges For derivative instruments that are designated and qualify as a cash flow hedge, the aggregate fair value of the derivative instrument is recorded in other assets or other liabilities with any gain or loss related to changes in fair value recorded in accumulated other comprehensive income (loss), net of tax. The gain or loss is reclassified into earnings in the same period during which the hedged asset or liability affects earnings and is presented in the same income statement line item as the earnings effect of the hedged asset or liability. Pinnacle Financial uses forward cash flow hedge relationships in an effort to manage future interest rate exposure. The hedging strategy converts the LIBOR-based variable interest rate on forecasted borrowings to a fixed interest rate and is used in an effort to protect Pinnacle Financial from floating interest rate variability. A summary of Pinnacle Financial's cash flow hedge relationships as of March 31, 2021 and December 31, 2020 is as follows (in thousands): March 31, 2021 December 31, 2020 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Estimated Notional Estimated Asset derivatives Interest rate floor Other assets 3.69 —% 2.25% minus one-month LIBOR $ 1,500,000 $ 100,564 $ 1,500,000 $ 124,585 The effects of Pinnacle Financial's cash flow hedge relationships on the statement of comprehensive income (loss) during the three months ended March 31, 2021 and 2020 were as follows, net of tax (in thousands): Amount of Gain (Loss) Recognized Three Months Ended March 31, Asset derivatives 2021 2020 Interest rate floor - loans $ (15,274) $ 65,349 Liability derivatives Interest rate swaps - borrowings $ — $ (1,580) $ (15,274) $ 63,769 The cash flow hedges were determined to be highly effective during the periods presented and as a result qualify for hedge accounting treatment. If a hedge was deemed to be ineffective, the amount included in accumulated other comprehensive income (loss) would be reclassified into a line item within the statement of income that impacts operating results. The hedge would no longer be considered effective if a portion of the hedge becomes ineffective, the item hedged is no longer in existence or Pinnacle Financial discontinues hedge accounting. Pinnacle Financial expects the hedges at March 31, 2021 to continue to be highly effective and qualify for hedge accounting during the remaining terms of the original hedging transactions. Losses on cash flow hedges totaling $504,000 and $1.8 million, net of tax, were reclassified from accumulated other comprehensive income (loss) into net income during the three months ended March 31, 2021 and 2020, respectively. During the first quarter of 2020, loan interest rate floors with a notional amount totaling $1.3 billion and unrealized gains totaling $16.5 million were terminated. These unrealized gains are being amortized into income on a straight line basis through October 2021. Approximately $4.7 million in unrealized gains, net of tax, are expected to be reclassified from accumulated other comprehensive income (loss) into net income over the next twelve months related to terminated cash flow hedges. Derivatives designated as fair value hedges For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. Pinnacle Financial utilizes interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate callable available-for-sale securities. The hedging strategy converts the fixed interest rates to LIBOR-based variable interest rates. These derivatives are designated as partial term hedges of selected cash flows covering specified periods of time prior to the call dates of the hedged securities. A summary of Pinnacle Financial's fair value hedge relationships as of March 31, 2021 and December 31, 2020 is as follows (in thousands): March 31, 2021 December 31, 2020 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Asset Derivatives Interest rate swaps - securities Other assets 8.34 0.58% Federal Funds $ 231,421 $ 17,181 $ 231,421 $ 4,696 Liability derivatives Interest rate swaps - securities Other liabilities 5.79 3.08% 3 month LIBOR $ 477,510 $ (49,729) $ 477,510 $ (72,010) $ 708,931 $ (32,548) $ 708,931 $ (67,314) Notional amounts of $477.5 million included in the table receive a variable rate of interest based on three month LIBOR and notional amounts totaling $231.4 million receive a variable rate of interest based on the daily compounded federal funds rate. The effects of Pinnacle Financial's securities fair value hedge relationships on the income statement during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income Three Months Ended March 31, 2021 2020 Interest rate swaps - securities Interest income on securities $ 34,766 $ (38,873) Securities available-for-sale Interest income on securities $ (34,766) $ 38,873 The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at March 31, 2021 and December 31, 2020 (in thousands): Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Line item on the balance sheet Securities available-for-sale $ 804,207 $ 841,543 $ 32,548 $ 67,314 During the three months ended March 31, 2021 and 2020, amortization expense totaling $924,000 and $1.1 million, respectively, related to previously terminated fair value hedges was recognized as a reduction to interest income on loans.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 9. Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurements and Disclosures , defines fair value, establishes a framework for measuring fair value in U.S. GAAP and expands disclosures about fair value measurements. The definition of fair value focuses on the exit price, i.e., the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not the entry price, i.e., the price that would be paid to acquire the asset or received to assume the liability at the measurement date. The statement emphasizes that fair value is a market-based measurement; not an entity-specific measurement. Therefore, the fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. Valuation Hierarchy FASB ASC 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such assets and liabilities pursuant to the valuation hierarchy. Assets Securities available-for-sale – Where quoted prices are available for identical securities in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government securities and certain other financial products. If quoted market prices are not available, then fair values are estimated by using pricing models that use observable inputs or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. In certain cases where there is limited activity or less transparency around inputs to the valuation and more complex pricing models or discounted cash flows are used, securities are classified within Level 3 of the valuation hierarchy. Other investments – Included in other investments are investments recorded at fair value primarily in certain nonpublic investments and funds. The valuation of these nonpublic investments requires management judgment due to the absence of observable quoted market prices, inherent lack of liquidity and the long-term nature of such assets. These investments are valued initially based upon transaction price. The carrying values of other investments are adjusted either upwards or downwards from the transaction price to reflect expected exit values as evidenced by financing and sale transactions with third parties, or when determination of a valuation adjustment is confirmed through ongoing reviews by senior investment managers. A variety of factors are reviewed and monitored to assess positive and negative changes in valuation including, but not limited to, current operating performance and future expectations of the particular investment, industry valuations of comparable public companies and changes in market outlook and the third-party financing environment over time. In determining valuation adjustments resulting from the investment review process, emphasis is placed on current company performance and market conditions. These investments are included in Level 3 of the valuation hierarchy if the entities and funds are not widely traded and the underlying investments are in privately-held and/or start-up companies for which market values are not readily available. Certain investments in funds for which the underlying assets of the fund represent publicly traded investments are included in Level 2 of the valuation hierarchy. Other assets – Included in other assets are certain assets carried at fair value, including interest rate swap agreements to facilitate customer transactions, interest rate floors designated as cash flow hedges, and interest rate locks associated with the mortgage loan pipeline. The carrying amount of interest rate swap agreements is based on Pinnacle Financial's pricing models that utilize observable market inputs. The fair value of the cash flow hedge agreements is determined by calculating the difference between the discounted fixed rate cash flows and the discounted variable rate cash flows. The fair value of the mortgage loan pipeline is based upon the projected sales price of the underlying loans, taking into account market interest rates and other market factors at the measurement date, net of the projected fallout rate. Pinnacle Financial reflects these assets within Level 2 of the valuation hierarchy as these assets are valued using similar transactions that occur in the market. Collateral dependent loans – Collateral dependent loans are measured at the fair value of the collateral securing the loan less estimated selling costs. The fair value of real estate collateral is determined based on real estate appraisals which are generally based on recent sales of comparable properties which are then adjusted for property specific factors. Non-real estate collateral is valued based on various sources, including third party asset valuations and internally determined values based on cost adjusted for depreciation and other judgmentally determined discount factors. Collateral dependent loans are classified within Level 3 of the hierarchy due to the unobservable inputs used in determining their fair value such as collateral values and the borrower's underlying financial condition. Other real estate owned – Other real estate owned (OREO) represents real estate foreclosed upon by Pinnacle Bank through loan defaults by customers or acquired by deed in lieu of foreclosure. A significant portion of these amounts relate to lots, homes and development projects that are either completed or are in various stages of construction for which Pinnacle Financial believes it has adequate collateral. Upon foreclosure, the property is recorded at the lower of cost or fair value, based on appraised value, less selling costs estimated as of the date acquired with any loss recognized as a charge-off through the allowance for credit losses. Additional OREO losses for subsequent valuation downward adjustments are determined on a specific property basis and are included as a component of noninterest expense along with holding costs. Any gains or losses realized at the time of disposal are also reflected in noninterest expense, as applicable. OREO is included in Level 3 of the valuation hierarchy due to the lack of observable market inputs into the determination of fair value as appraisal values are property-specific and sensitive to the changes in the overall economic environment. Liabilities Other liabilities – Pinnacle Financial has certain liabilities carried at fair value including certain interest rate swap agreements to facilitate customer transactions, interest rate swaps designated as fair value and cash flow hedges, and interest rate locks associated with the funding for its mortgage loan originations. The fair value of these liabilities is based on Pinnacle Financial's pricing models that utilize observable market inputs and is reflected within Level 2 of the valuation hierarchy. The following tables present financial instruments measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, by caption on the consolidated balance sheets and by FASB ASC 820 valuation hierarchy (as described above) (in thousands): Total carrying value in the consolidated balance sheet Quoted market prices in an active market Models with significant observable market parameters Models with significant unobservable market parameters March 31, 2021 Investment securities available-for-sale: U.S. Treasury securities $ 83,993 $ — $ 83,993 $ — U.S. government agency securities 157,456 — 157,456 — Mortgage-backed securities 1,609,778 — 1,609,778 — State and municipal securities 1,512,360 — 1,498,847 13,513 Agency-backed securities 190,695 — 190,695 — Corporate notes and other 122,737 — 122,737 — Total investment securities available-for-sale 3,677,019 — 3,663,506 13,513 Other investments 87,347 — 25,218 62,129 Other assets 190,753 — 190,753 — Total assets at fair value $ 3,955,119 $ — $ 3,879,477 $ 75,642 Other liabilities $ 116,646 $ — $ 116,646 $ — Total liabilities at fair value $ 116,646 $ — $ 116,646 $ — December 31, 2020 Investment securities available-for-sale: U.S. Treasury securities $ 82,209 $ — $ 82,209 $ — U.S. government agency securities 76,403 — 76,403 — Mortgage-backed securities 1,689,191 — 1,689,191 — State and municipal securities 1,443,363 — 1,427,866 15,497 Agency-backed securities 177,936 — 177,936 — Corporate notes and other 117,579 — 117,579 — Total investment securities available-for-sale 3,586,681 — 3,571,184 15,497 Other investments 73,395 — 25,636 47,759 Other assets 242,470 — 242,470 — Total assets at fair value $ 3,902,546 $ — $ 3,839,290 $ 63,256 Other liabilities $ 177,025 $ — $ 177,025 $ — Total liabilities at fair value $ 177,025 $ — $ 177,025 $ — The following table presents assets measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Total carrying value in the consolidated balance sheet Quoted market prices in an active market Models with significant observable market parameters Models with significant unobservable market Other real estate owned $ 10,651 $ — $ — $ 10,651 Collateral dependent loans (1) 40,890 — — 40,890 Total $ 51,541 $ — $ — $ 51,541 December 31, 2020 Other real estate owned $ 12,360 $ — $ — $ 12,360 Collateral dependent loans (1) 43,795 — — 43,795 Total $ 56,155 $ — $ — $ 56,155 (1) The carrying values of collateral dependent loans at March 31, 2021 and December 31, 2020 are net of valuation allowances of $2.7 million and $3.5 million, respectively. In the case of the investment securities portfolio, Pinnacle Financial monitors the portfolio to ascertain when transfers between levels have been affected. The nature of the remaining assets and liabilities is such that transfers in and out of any level are expected to be rare. For the three months ended March 31, 2021, there were no transfers between Levels 1, 2 or 3. The table below includes a rollforward of the balance sheet amounts for the three months ended March 31, 2021 and March 31, 2020 (including the change in fair value) for financial instruments classified by Pinnacle Financial within Level 3 of the valuation hierarchy measured at fair value on a recurring basis including changes in fair value due in part to observable factors that are part of the valuation methodology (in thousands): For the Three months ended March 31, 2021 2020 Available-for-sale Securities Other Available-for-sale Securities Other Fair value, beginning of period $ 15,497 $ 47,759 $ 15,903 $ 38,156 Total realized gains (losses) included in income 42 3,440 28 (174) Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end (1,875) — (21) — Purchases — 12,432 — 2,361 Issuances — — — — Settlements (151) (1,502) (1,143) (587) Transfers out of Level 3 — — — — Fair value, end of period $ 13,513 $ 62,129 $ 14,767 $ 39,756 Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at period-end $ 42 $ 3,440 $ 28 $ (174) The following tables present the carrying amounts, estimated fair value and placement in the fair value hierarchy of Pinnacle Financial's financial instruments at March 31, 2021 and December 31, 2020. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash, cash equivalents, and restricted cash, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as non-interest bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity (in thousands): Carrying/ Estimated Fair Value (1) Quoted market prices in an active market Models with significant observable market parameters Models with significant unobservable market March 31, 2021 Financial assets: Securities purchased with agreement to resell $ 450,000 $ 433,935 $ — $ — $ 433,935 Securities held-to-maturity 1,014,345 1,033,749 — 1,033,749 — Loans, net 22,805,820 22,808,139 — — 22,808,139 Consumer loans held-for-sale 85,769 86,403 — 86,403 — Commercial loans held-for-sale 12,541 12,634 — 12,634 — Financial liabilities: Deposits and securities sold under agreements to repurchase 28,465,057 27,539,943 — — 27,539,943 Federal Home Loan Bank advances 888,115 928,035 — — 928,035 Subordinated debt and other borrowings 671,002 661,693 — — 661,693 Off-balance sheet instruments: Commitments to extend credit (2) 10,422,083 25,019 — — 25,019 December 31, 2020 Financial assets: Securities held-to-maturity $ 1,028,359 $ 1,066,531 $ — $ 1,066,531 $ — Loans, net 22,139,451 22,407,546 — — 22,407,546 Consumer loans held-for-sale 87,821 89,625 — 89,625 — Commercial loans held-for-sale 31,200 31,841 — 31,841 — Financial liabilities: Deposits and securities sold under agreements to repurchase 27,833,739 26,929,142 — — 26,929,142 Federal Home Loan Bank advances 1,087,927 1,189,035 — — 1,189,035 Subordinated debt and other borrowings 670,575 677,521 — — 677,521 Off-balance sheet instruments: Commitments to extend credit (2) 9,692,607 24,887 — — 24,887 (1) Estimated fair values are consistent with an exit-price concept. The assumptions used to estimate the fair values are intended to approximate those that a market-participant would realize in a hypothetical orderly transaction. (2) At the end of each quarter, Pinnacle Financial evaluates the inherent risks of the outstanding off-balance sheet commitments, including both commitments for unfunded loans and standby letters of credit. In making this evaluation, Pinnacle Financial utilizes credit loss expectations on funded loans from our allowance for credit losses methodology and evaluates the probability that the outstanding commitment will eventually become a funded loan. As a result, at March 31, 2021 and December 31, 2020, Pinnacle Financial included in other liabilities $23.2 million, representing expected credit losses on off-balance sheet commitments, which are reflected in the estimated fair values of the related commitments. Also included in the fair values at March 31, 2021 and December 31, 2020 are unamortized fees related to these commitments of $1.8 million and $1.7 million, respectively.

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2021
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Regulatory Matters	Note 10. Regulatory Matters Pursuant to Tennessee banking law, Pinnacle Bank may not, without the prior consent of the Commissioner of the Tennessee Department of Financial Institutions (TDFI), pay any dividends to Pinnacle Financial in a calendar year in excess of the total of Pinnacle Bank's retained net income for that year plus the retained net income for the preceding two years. Under Tennessee corporate law, Pinnacle Financial is not permitted to pay dividends if, after giving effect to such payment, it would not be able to pay its debts as they become due in the usual course of business or its total assets would be less than the sum of its total liabilities plus any amounts needed to satisfy any preferential rights if it were dissolving. In addition, in deciding whether or not to declare a dividend of any particular size, Pinnacle Financial's board of directors must consider its and Pinnacle Bank's current and prospective capital, liquidity, and other needs. In addition to state law limitations on Pinnacle Financial's ability to pay dividends, the Federal Reserve imposes limitations on Pinnacle Financial's ability to pay dividends. Federal Reserve regulations limit dividends, stock repurchases and discretionary bonuses to executive officers if Pinnacle Financial's regulatory capital is below the level of regulatory minimums plus the applicable capital conservation buffer. In addition, the Federal Reserve has issued supervisory guidance advising bank holding companies to eliminate, defer or reduce dividends paid on common stock and other forms of Tier 1 capital where the company’s net income available to shareholders for the past four quarters, net of dividends previously paid during that period, is not sufficient to fully fund the dividends, the company’s prospective rate of earnings retention is not consistent with the company’s capital needs and overall current and prospective financial condition or the company will not meet, or is in danger of not meeting, minimum regulatory capital adequacy ratios. Recent supplements to this guidance reiterate the need for bank holding companies to inform their applicable reserve bank sufficiently in advance of the proposed payment of a dividend in certain circumstances. During the three months ended March 31, 2021, Pinnacle Bank paid no dividends to Pinnacle Financial. As of March 31, 2021, Pinnacle Bank could pay approximately $574.3 million of additional dividends to Pinnacle Financial without prior approval of the Commissioner of the TDFI. Since the fourth quarter of 2013, Pinnacle Financial has paid a quarterly common stock dividend. The board of directors of Pinnacle Financial has increased the dividend amount per share over time. The most recent increase occurred on January 19, 2021, when the board of directors increased the dividend to $0.18 per common share from $0.16 per common share. During the second quarter of 2020, the Pinnacle Financial issued 9.0 million depositary shares, each representing a 1/40th fractional interest in a share of Series B noncumulative, perpetual preferred stock (the "Series B Preferred Stock") in a registered public offering to both retail and institutional investors. Beginning in the third quarter of 2020, Pinnacle Financial began paying a quarterly dividend of $16.88 per share (or $0.422 per depositary share), on the Series B Preferred Stock. The amount and timing of all future dividend payments by Pinnacle Financial, if any, including dividends on Pinnacle Financial's Series B Preferred Stock, is subject to discretion of Pinnacle Financial's board of directors and will depend on Pinnacle Financial's receipt of dividends from Pinnacle Bank, earnings, capital position, financial condition and other factors, including regulatory capital requirements, as they become known to Pinnacle Financial and receipt of any regulatory approvals that may become required as a result of each of Pinnacle Financial's or Pinnacle Bank's financial results. Pinnacle Financial and Pinnacle Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, Pinnacle Financial and Pinnacle Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. Pinnacle Financial's and Pinnacle Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require Pinnacle Financial and its banking subsidiary to maintain minimum amounts and ratios of common equity Tier 1 capital to risk-weighted assets, Tier 1 capital to risk-weighted assets, total risk-based capital to risk-weighted assets and Tier 1 capital to average assets. As permitted by the interim final rule issued on March 27, 2020 by the federal banking regulatory agencies, each of Pinnacle Bank and Pinnacle Financial has elected the option to delay the estimated impact on regulatory capital of Pinnacle Financial's and Pinnacle Bank's adoption of ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, which was effective January 1, 2020. The initial impact of adoption of ASU 2016-13, as well as 25% of the quarterly increases in the allowance for credit losses subsequent to adoption of ASU 2016-13 (collectively the “transition adjustments”), will be delayed until December 31, 2021. After that date, the cumulative amount of the transition adjustments will become fixed and will be phased out of the regulatory capital calculations evenly over a three year period, with 75% recognized in 2022, 50% recognized in 2023, and 25% recognized in 2024. Beginning on January 1, 2025, the temporary regulatory capital benefits will be fully reversed. Management believes, as of March 31, 2021, that Pinnacle Financial and Pinnacle Bank met all capital adequacy requirements to which they are subject. To be categorized as well-capitalized under applicable banking regulations, Pinnacle Bank must maintain certain total risk-based, Tier 1 risk-based, common equity Tier 1 and Tier 1 leverage ratios as set forth in the following table and not be subject to a written agreement, order or directive to maintain a higher capital level. The capital conservation buffer is not included in the required ratios of the table presented below. Pinnacle Financial's and Pinnacle Bank's actual capital amounts and resulting ratios, not including the capital conservation buffer, are presented in the following table (in thousands): Actual Minimum Capital Minimum Amount Ratio Amount Ratio Amount Ratio At March 31, 2021 Total capital to risk weighted assets: Pinnacle Financial $ 3,784,041 14.5 % $ 2,088,413 8.0 % $ 2,610,516 10.0 % Pinnacle Bank $ 3,382,392 13.0 % $ 2,081,224 8.0 % $ 2,601,529 10.0 % Tier 1 capital to risk weighted assets: Pinnacle Financial $ 2,911,788 11.2 % $ 1,566,309 6.0 % $ 2,088,413 8.0 % Pinnacle Bank $ 3,059,140 11.8 % $ 1,560,918 6.0 % $ 2,081,224 8.0 % Common equity Tier 1 capital to risk weighted assets Pinnacle Financial $ 2,694,539 10.3 % $ 1,174,732 4.5 % NA NA Pinnacle Bank $ 3,059,017 11.8 % $ 1,170,688 4.5 % $ 1,690,994 6.5 % Tier 1 capital to average assets (*): Pinnacle Financial $ 2,911,788 8.9 % $ 1,306,257 4.0 % NA NA Pinnacle Bank $ 3,059,140 9.4 % $ 1,302,421 4.0 % $ 1,628,026 5.0 % At December 31, 2020 Total capital to risk weighted assets: Pinnacle Financial $ 3,678,405 14.3 % $ 2,063,352 8.0 % $ 2,579,190 10.0 % Pinnacle Bank $ 3,259,538 12.7 % $ 2,055,892 8.0 % $ 2,569,865 10.0 % Tier 1 capital to risk weighted assets: Pinnacle Financial $ 2,803,541 10.9 % $ 1,547,514 6.0 % $ 2,063,352 8.0 % Pinnacle Bank $ 2,933,674 11.4 % $ 1,541,919 6.0 % $ 2,055,892 8.0 % Common equity Tier 1 capital to risk weighted assets Pinnacle Financial $ 2,586,292 10.0 % $ 1,160,635 4.5 % NA NA Pinnacle Bank $ 2,933,551 11.4 % $ 1,156,439 4.5 % $ 1,670,412 6.5 % Tier 1 capital to average assets (*): Pinnacle Financial $ 2,803,541 8.6 % $ 1,298,756 4.0 % NA NA Pinnacle Bank $ 2,933,674 9.1 % $ 1,294,033 4.0 % $ 1,617,541 5.0 % (*) Average assets for the above calculations were based on the most recent quarter. During the second quarter of 2020, Pinnacle Financial issued 9.0 million depositary shares, each representing a 1/40th interest in a share of Series B preferred stock in a registered public offering to both retail and institutional investors. Net proceeds from the transaction were approximately $217.1 million after deducting the underwriting discounts and offering expenses payable by Pinnacle Financial. The net proceeds were initially retained by Pinnacle Financial and the remaining net proceeds are available to support the capital needs of Pinnacle Financial and Pinnacle Bank, to support Pinnacle Financial's obligations, including interest payments on its outstanding indebtedness and dividend payments on the Series B preferred stock, and for other general corporate purposes.

Other borrowings

Other borrowings	3 Months Ended
	Mar. 31, 2021
Subordinated Debt [Abstract]
Other Borrowings	Note 11. Other Borrowings Pinnacle Financial has twelve wholly-owned subsidiaries that are statutory business trusts created for the exclusive purpose of issuing 30-year capital trust preferred securities and Pinnacle Financial and Pinnacle Bank have entered into certain other subordinated debt agreements. These instruments are outlined below as of March 31, 2021 (in thousands): Name Date Maturity Total Debt Outstanding Interest Rate at March 31, 2021 Coupon Structure Trust preferred securities Pinnacle Statutory Trust I December 29, 2003 December 30, 2033 $ 10,310 2.98 % 30-day LIBOR + 2.80% Pinnacle Statutory Trust II September 15, 2005 September 30, 2035 20,619 1.60 % 30-day LIBOR + 1.40% Pinnacle Statutory Trust III September 7, 2006 September 30, 2036 20,619 1.85 % 30-day LIBOR + 1.65% Pinnacle Statutory Trust IV October 31, 2007 September 30, 2037 30,928 3.03 % 30-day LIBOR + 2.85% BNC Capital Trust I April 3, 2003 April 15, 2033 5,155 3.49 % 30-day LIBOR + 3.25% BNC Capital Trust II March 11, 2004 April 7, 2034 6,186 3.09 % 30-day LIBOR + 2.85% BNC Capital Trust III September 23, 2004 September 23, 2034 5,155 2.64 % 30-day LIBOR + 2.40% BNC Capital Trust IV September 27, 2006 December 31, 2036 7,217 1.90 % 30-day LIBOR + 1.70% Valley Financial Trust I June 26, 2003 June 26, 2033 4,124 3.30 % 30-day LIBOR + 3.10% Valley Financial Trust II September 26, 2005 December 15, 2035 7,217 1.67 % 30-day LIBOR + 1.49% Valley Financial Trust III December 15, 2006 January 30, 2037 5,155 1.94 % 30-day LIBOR + 1.73% Southcoast Capital Trust III August 5, 2005 September 30, 2035 10,310 1.70 % 30-day LIBOR + 1.50% Subordinated Debt Pinnacle Bank Subordinated Notes July 30, 2015 July 30, 2025 60,000 3.33 % 3-month LIBOR + 3.128% Pinnacle Bank Subordinated Notes March 10, 2016 July 30, 2025 70,000 3.33 % 3-month LIBOR + 3.128% Pinnacle Financial Subordinated Notes November 16, 2016 November 16, 2026 120,000 5.25 % Fixed (1) Pinnacle Financial Subordinated Notes September 11, 2019 September 15, 2029 300,000 4.13 % Fixed (2) Debt issuance costs and fair value adjustments (11,993) Total subordinated debt and other borrowings $ 671,002 (1) Migrates to three month LIBOR + 3.884% beginning November 16, 2021 through the end of the term. (2) Migrates to three month LIBOR + 2.775% beginning September 15, 2024 through the end of the term. Effective January 1, 2020, Pinnacle Financial used $80.0 million of the net proceeds from our 2019 subordinated debt offering to redeem certain other of our subordinated notes, including the $20.0 million aggregate principal amount of Avenue subordinated notes and $60.0 million aggregate principal amount of BNC subordinated notes. Pursuant to regulatory guidelines, once the maturity date on these subordinated notes is within five years, a portion of the notes will no longer be eligible to be included in regulatory capital, with an additional portion being excluded each year over the five year period approaching maturity. On April 22, 2020, Pinnacle Financial established a credit facility with the Federal Reserve Bank in conjunction with the SBA Paycheck Protection Program, with available borrowing capacity equal to the outstanding balance of Paycheck Protection Program loans, which totaled approximately $2.2 billion at March 31, 2021. There are no amounts outstanding on this facility at March 31, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	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, 2020 (2020 10-K). These 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 11. Other Borrowings are included in these consolidated financial statements pursuant to the equity method of accounting. Significant intercompany transactions and accounts are eliminated in consolidation.
Use of Estimates	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 continued impact of the COVID-19 pandemic on the economy. The resulting change in these estimates could be material to Pinnacle Financial's consolidated financial statements. There have been no significant changes to Pinnacle Financial's significant accounting policies as disclosed in the 2020 10-K.
Income Per Common Share	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. 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 months ended March 31, 2021 and 2020 (in thousands, except per share data): Three months ended 2021 2020 Basic net income per common share calculation: Numerator - Net income available to common shareholders $ 121,630 $ 28,356 Denominator - Weighted average common shares outstanding 75,373 75,803 Basic net income per common share $ 1.61 $ 0.37 Diluted net income per common share calculation: Numerator – Net income available to common shareholders $ 121,630 $ 28,356 Denominator - Weighted average common shares outstanding 75,373 75,803 Dilutive common shares contingently issuable 284 163 Weighted average diluted common shares outstanding 75,657 75,966 Diluted net income per common share $ 1.61 $ 0.37
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements — In January 2020, the FASB issued Accounting Standards Update 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) - Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. These amendments, among other things, clarify that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments-Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The amendments also clarify that when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. An entity should apply ASU 2020-01 prospectively at the beginning of the interim period that includes the adoption date. The amendments became effective for Pinnacle Financial on January 1, 2021 and had no impact on Pinnacle Financial's consolidated financial statements. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes to simplify various aspects of the current guidance to promote consistent application of the standard among reporting entities by moving certain exceptions to the general principles. The amendments are effective for fiscal years beginning after December 15, 2020. The amendments became effective for Pinnacle Financial on January 1, 2021 and had no impact on Pinnacle Financial's consolidated financial statements. In March 2020, the FASB issued Accounting Standards Update 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 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 is effective for all entities as of March 12, 2020 through December 31, 2022. Pinnacle Financial is implementing a transition plan to identify and modify its loans and other financial instruments, including certain indebtedness, with attributes that are either directly or indirectly influenced by LIBOR. Pinnacle Financial is assessing ASU 2020-04 and its impact on the transition away from LIBOR for its loans and other financial instruments.
Newly Issued Not Yet Effective Accounting Standards	Newly Issued Not Yet Effective Accounting Standards — Other than those pronouncements discussed above which have been recently adopted, Pinnacle Financial does not believe there were any other recently issued accounting pronouncements that are expected to materially impact its consolidated financial statements.
Subsequent Events	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 financial statements are issued. Pinnacle Financial evaluated all events or transactions that occurred after March 31, 2021 through the date of the issued financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Supplemental Cash Flow Information	Cash Flow Information — Supplemental cash flow information addressing certain cash and noncash transactions for the three months ended March 31, 2021 and 2020 was as follows (in thousands): For the three months ended 2021 2020 Cash Transactions: Interest paid $ 38,362 $ 77,748 Income taxes paid, net 433 620 Operating lease payments 3,516 3,424 Noncash Transactions: Loans charged-off to the allowance for credit losses 14,274 11,693 Loans foreclosed upon and transferred to other real estate owned 139 1,800 Available-for-sale securities transferred to held-to-maturity portfolio — 873,613 Right-of-use asset recognized during the period in exchange for lease obligations 531 716
Basic and Diluted Earnings Per Share Calculations	The following is a summary of the basic and diluted net income per common share calculations for the three months ended March 31, 2021 and 2020 (in thousands, except per share data): Three months ended 2021 2020 Basic net income per common share calculation: Numerator - Net income available to common shareholders $ 121,630 $ 28,356 Denominator - Weighted average common shares outstanding 75,373 75,803 Basic net income per common share $ 1.61 $ 0.37 Diluted net income per common share calculation: Numerator – Net income available to common shareholders $ 121,630 $ 28,356 Denominator - Weighted average common shares outstanding 75,373 75,803 Dilutive common shares contingently issuable 284 163 Weighted average diluted common shares outstanding 75,657 75,966 Diluted net income per common share $ 1.61 $ 0.37

Equity method investment (Table

Equity method investment (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	A summary of BHG's financial position as of March 31, 2021 and December 31, 2020 and results of operations as of and for the three months ended March 31, 2021 and 2020, were as follows (in thousands): As of March 31, 2021 December 31, 2020 Assets $ 1,608,912 $ 1,330,317 Liabilities 1,334,066 1,088,135 Equity interests 274,846 242,182 Total liabilities and equity $ 1,608,912 $ 1,330,317 For the three months ended 2021 2020 Revenues $ 157,623 $ 97,943 Net income $ 58,562 $ 32,471

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Summary of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities	The amortized cost and fair value of securities available-for-sale and held-to-maturity at March 31, 2021 and December 31, 2020 are summarized as follows (in thousands): Amortized Gross Gross Fair March 31, 2021: Securities available-for-sale: U.S. Treasury securities $ 83,971 $ 22 $ — $ 83,993 U.S. government agency securities 159,613 1,224 3,381 157,456 Mortgage-backed securities 1,583,670 40,921 14,813 1,609,778 State and municipal securities 1,480,691 40,140 8,471 1,512,360 Asset-backed securities 191,005 382 692 190,695 Corporate notes and other 121,766 2,824 1,853 122,737 $ 3,620,716 $ 85,513 $ 29,210 $ 3,677,019 Securities held-to-maturity: State and municipal securities $ 1,014,543 $ 22,320 $ 3,114 $ 1,033,749 $ 1,014,543 $ 22,320 $ 3,114 $ 1,033,749 Allowance for credit losses - securities held-to-maturity (198) Securities held-to-maturity, net of allowance for credit losses $ 1,014,345 December 31, 2020: Securities available-for-sale: U.S. Treasury securities $ 82,199 $ 10 $ — $ 82,209 U.S. government agency securities 74,916 1,547 60 76,403 Mortgage-backed securities 1,623,759 67,759 2,327 1,689,191 State and municipal securities 1,411,288 44,559 12,484 1,443,363 Asset-backed securities 177,878 715 657 177,936 Corporate notes and other 117,256 2,632 2,309 117,579 $ 3,487,296 $ 117,222 17,837 $ 3,586,681 Securities held-to-maturity: State and municipal securities $ 1,028,550 $ 38,272 $ 291 $ 1,066,531 $ 1,028,550 $ 38,272 $ 291 $ 1,066,531 Allowance for credit losses - securities held-to-maturity (191) Securities held-to-maturity, net of allowance for credit losses $ 1,028,359
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity	The amortized cost and fair value of debt securities as of March 31, 2021 by contractual maturity are shown below. Actual maturities may differ from contractual maturities of mortgage- and asset-backed securities since the mortgages and assets underlying the securities may be called or prepaid with or without penalty. Therefore, these securities are not included in the maturity categories in the following summary (in thousands): Available-for-sale Held-to-maturity March 31, 2021: Amortized Fair Amortized Fair Due in one year or less $ 88,478 $ 88,502 $ — $ — Due in one year to five years 13,022 13,266 1,409 1,476 Due in five years to ten years 265,259 278,713 7,152 7,223 Due after ten years 1,479,282 1,496,065 1,005,982 1,025,050 Mortgage-backed securities 1,583,670 1,609,778 — — Asset-backed securities 191,005 190,695 — — $ 3,620,716 $ 3,677,019 $ 1,014,543 $ 1,033,749
Classification of Investments According to Term of Unrealized Losses of Less than Twelve Months or Twelve Months or Longer	At March 31, 2021 and December 31, 2020, the following investments had unrealized losses. The table below classifies these investments according to the term of the unrealized losses of less than twelve months or twelve months or longer (in thousands): Investments with an Unrealized Loss of Investments with an Unrealized Loss of Total Investments with an Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized At March 31, 2021 U.S. Treasury securities $ — $ — $ — $ — $ — $ — U.S. government agency securities 109,710 3,355 5,701 26 115,411 3,381 Mortgage-backed securities 427,992 14,434 30,072 379 458,064 14,813 State and municipal securities 287,208 4,779 253,998 4,379 541,206 9,158 Asset-backed securities 62,619 662 13,228 30 75,847 692 Corporate notes 13,995 5 25,450 1,848 39,445 1,853 Total temporarily-impaired securities $ 901,524 $ 23,235 $ 328,449 $ 6,662 $ 1,229,973 $ 29,897 At December 31, 2020 U.S. Treasury securities $ — $ — $ — $ — $ — $ — U.S. government agency securities 9,962 38 6,091 22 16,053 60 Mortgage-backed securities 165,696 1,772 35,997 555 201,693 2,327 State and municipal securities 175,115 2,220 345,435 10,264 520,550 12,484 Asset-backed securities 46,399 207 52,840 450 99,239 657 Corporate notes 9,978 40 23,920 2,269 33,898 2,309 Total temporarily-impaired securities $ 407,150 $ 4,277 $ 464,283 $ 13,560 $ 871,433 $ 17,837

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Loans at March 31, 2021 and December 31, 2020 were as follows: March 31, 2021 December 31, 2020 Commercial real estate: Owner occupied $ 2,869,785 $ 2,802,227 Non-owner occupied 5,573,181 5,203,384 Consumer real estate – mortgage 3,086,916 3,099,172 Construction and land development 2,568,969 2,901,746 Commercial and industrial 8,576,528 8,038,457 Consumer and other 411,322 379,515 Subtotal $ 23,086,701 $ 22,424,501 Allowance for credit losses (280,881) (285,050) Loans, net $ 22,805,820 $ 22,139,451
Loan Classification Categorized by Risk Rating Category	The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of March 31, 2021 (in thousands): March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Total Commercial real estate - Owner occupied Pass $ 185,030 $ 818,913 $ 454,195 $ 415,769 $ 287,792 $ 482,233 $ 75,410 $ 2,719,342 Special Mention 843 21,745 23,153 18,193 9,943 7,773 100 81,750 Substandard (1) — 15,418 6,878 7,720 12,034 9,215 4,405 55,670 Substandard-nonaccrual 469 4,175 143 2,882 825 4,529 — 13,023 Doubtful-nonaccrual — — — — — — — — Total Commercial real estate - owner occupied $ 186,342 $ 860,251 $ 484,369 $ 444,564 $ 310,594 $ 503,750 $ 79,915 $ 2,869,785 Commercial real estate - Non-owner occupied Pass $ 363,560 $ 1,195,970 $ 1,148,016 $ 655,692 $ 460,511 $ 753,838 $ 76,477 $ 4,654,064 Special Mention 4,790 499,220 128,032 49,715 104,627 101,186 35 887,605 Substandard (1) 3,364 12,177 1,634 3,092 1,687 6,099 — 28,053 Substandard-nonaccrual 91 3 416 573 — 2,376 — 3,459 Doubtful-nonaccrual — — — — — — — — Total Commercial real estate - Non-owner occupied $ 371,805 $ 1,707,370 $ 1,278,098 $ 709,072 $ 566,825 $ 863,499 $ 76,512 $ 5,573,181 Consumer real estate – mortgage Pass $ 208,011 $ 703,564 $ 432,848 $ 278,303 $ 146,508 $ 374,293 $ 917,280 $ 3,060,807 Special Mention 121 — — 710 66 957 — 1,854 Substandard (1) — 661 — — 183 1,872 1,760 4,476 Substandard-nonaccrual 82 243 3,413 807 1,223 11,347 2,664 19,779 Doubtful-nonaccrual — — — — — — — — Total Consumer real estate – mortgage $ 208,214 $ 704,468 $ 436,261 $ 279,820 $ 147,980 $ 388,469 $ 921,704 $ 3,086,916 Construction and land development Pass $ 230,571 $ 1,127,479 $ 817,068 $ 275,489 $ 32,141 $ 19,315 $ 11,414 $ 2,513,477 Special Mention 1,501 38,796 8,638 — — 4,243 — 53,178 Substandard (1) — 354 14 25 — 363 — 756 Substandard-nonaccrual — 363 524 68 74 529 — 1,558 Doubtful-nonaccrual — — — — — — — — Total Construction and land development $ 232,072 $ 1,166,992 $ 826,244 $ 275,582 $ 32,215 $ 24,450 $ 11,414 $ 2,568,969 Commercial and industrial Pass $ 1,680,983 $ 2,677,307 $ 869,499 $ 485,136 $ 220,590 $ 174,287 $ 2,219,361 $ 8,327,163 Special Mention 1,345 33,321 64,578 3,682 6,611 3,115 30,554 143,206 Substandard (1) 2,099 22,656 15,010 11,797 2,462 2,345 15,502 71,871 Substandard-nonaccrual 637 21,364 4,534 527 470 497 6,259 34,288 Doubtful-nonaccrual — — — — — — — — Total Commercial and industrial $ 1,685,064 $ 2,754,648 $ 953,621 $ 501,142 $ 230,133 $ 180,244 $ 2,271,676 $ 8,576,528 Consumer and other Pass $ 93,203 $ 120,548 $ 13,895 $ 5,065 $ 5,453 $ 4,164 $ 168,966 $ 411,294 Special Mention — — — — — — — — Substandard (1) — — — — — — — — Substandard-nonaccrual — — — — 25 3 — 28 Doubtful-nonaccrual — — — — — — — — Total Consumer and other $ 93,203 $ 120,548 $ 13,895 $ 5,065 $ 5,478 $ 4,167 $ 168,966 $ 411,322 Total loans Pass $ 2,761,358 $ 6,643,781 $ 3,735,521 $ 2,115,454 $ 1,152,995 $ 1,808,130 $ 3,468,908 $ 21,686,147 Special Mention 8,600 593,082 224,401 72,300 121,247 117,274 30,689 1,167,593 Substandard (1) 5,463 51,266 23,536 22,634 16,366 19,894 21,667 160,826 Substandard-nonaccrual 1,279 26,148 9,030 4,857 2,617 19,281 8,923 72,135 Doubtful-nonaccrual — — — — — — — — Total loans $ 2,776,700 $ 7,314,277 $ 3,992,488 $ 2,215,245 $ 1,293,225 $ 1,964,579 $ 3,530,187 $ 23,086,701
Past Due Balances by Loan Classification	The table below presents the aging of past due balances by loan segment at March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 30-59 days past due 60-89 days past due 90 days or more past due Total Current Total loans Commercial real estate: Owner-occupied $ 1,906 $ 69 $ 2,957 $ 4,932 $ 2,864,853 $ 2,869,785 Non-owner occupied 1,714 — 2,526 4,240 5,568,941 5,573,181 Consumer real estate – mortgage 5,303 790 5,816 11,909 3,075,007 3,086,916 Construction and land development 137 — 383 520 2,568,449 2,568,969 Commercial and industrial 10,913 2,895 4,377 18,185 8,558,343 8,576,528 Consumer and other 797 223 342 1,362 409,960 411,322 Total $ 20,770 $ 3,977 $ 16,401 $ 41,148 $ 23,045,553 $ 23,086,701 December 31, 2020 Commercial real estate: Owner-occupied $ 934 $ 2,672 $ 1,860 $ 5,466 $ 2,796,761 $ 2,802,227 Non-owner occupied 726 6,220 3,861 10,807 5,192,577 5,203,384 Consumer real estate – mortgage 8,859 328 6,274 15,461 3,083,711 3,099,172 Construction and land development 278 418 736 1,432 2,900,314 2,901,746 Commercial and industrial 20,278 5,801 4,408 30,487 8,007,970 8,038,457 Consumer and other 806 282 304 1,392 378,123 379,515 Total $ 31,881 $ 15,721 $ 17,443 $ 21,260 $ 65,045 $ 22,359,456 $ 22,424,501
Details of Changes in the Allowance for Loan Losses	The following table details the changes in the allowance for credit losses for the three months ended March 31, 2021 and 2020, respectively, by loan classification (in thousands): Commercial real estate - Owner occupied Commercial real estate - Non-owner occupied Consumer Construction and land development Commercial and industrial Consumer Unallocated Total Three months ended March 31, 2021: Balance at December 31, 2020 $ 23,298 $ 79,132 $ 33,304 $ 42,408 $ 98,423 $ 8,485 $ — $ 285,050 Charged-off loans (697) (140) (371) (367) (11,749) (950) — (14,274) Recovery of previously charged-off loans 602 12 365 37 1,206 655 — 2,877 Provision for credit losses on loans (1,138) 1,515 (3,099) (4,436) 13,196 1,190 — 7,228 Balance at March 31, 2021 $ 22,065 $ 80,519 $ 30,199 $ 37,642 $ 101,076 $ 9,380 $ — $ 280,881 Three months ended March 31, 2020: Balance at December 31, 2019 $ 13,406 $ 19,963 $ 8,054 $ 12,662 $ 36,112 $ 3,595 $ 985 $ 94,777 Impact of adopting ASC 326 264 (4,740) 21,029 (3,144) 23,040 2,638 (985) 38,102 Charged-off loans (1,561) (261) (930) — (7,734) (1,207) — (11,693) Recovery of previously charged-off loans 145 93 190 43 748 319 — 1,538 Provision for credit losses on loans 11,380 17,059 4,655 29,350 35,894 1,403 — 99,741 Balance at March 31, 2020 $ 23,634 $ 32,114 $ 32,998 $ 38,911 $ 88,060 $ 6,748 $ — $ 222,465
Schedule of Collateral Dependent Loans Individually Evaluated for ACL	The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, as of March 31, 2021 and December 31, 2020 (in thousands): Real Estate Business Assets Other Total March 31, 2021 Commercial real estate: Owner-occupied $ 19,165 $ — $ — $ 19,165 Non-owner occupied 5,187 — — 5,187 Consumer real estate – mortgage 24,683 — — 24,683 Construction and land development 1,648 — — 1,648 Commercial and industrial — 11,888 634 12,522 Consumer and other — — 28 28 Total $ 50,683 $ 11,888 $ 662 $ 63,233 Real Estate Business Assets Other Total December 31, 2020 Commercial real estate: Owner-occupied $ 15,681 $ — $ — $ 15,681 Non-owner occupied 7,000 — — 7,000 Consumer real estate – mortgage 27,082 — — 27,082 Construction and land development 2,049 — — 2,049 Commercial and industrial — 22,437 39 22,476 Consumer and other — — 4 4 Total $ 51,812 $ 22,437 $ 43 $ 74,292
Financing Receivable, Nonaccrual	The table below presents the amortized cost basis of loans on nonaccrual status and loans past due 90 or more days and still accruing interest at March 31, 2021 and December 31, 2020. Also presented is the balance of loans on nonaccrual status at March 31, 2021 for which there was no related allowance for credit losses recorded (in thousands): March 31, 2021 December 31, 2020 Total nonaccrual loans Nonaccrual loans with no allowance for credit losses Loans past due 90 or more days and still accruing Total nonaccrual loans Nonaccrual loans with no allowance for credit losses Loans past due 90 or more days and still accruing Commercial real estate: Owner-occupied $ 13,023 $ 8,955 $ — $ 10,231 $ 5,985 $ — Non-owner occupied 3,459 — — 5,219 1,522 — Consumer real estate – mortgage 19,779 — — 22,191 — 273 Construction and land development 1,558 — — 1,953 — — Commercial and industrial 34,288 27,862 2,491 34,238 29,030 1,785 Consumer and other 28 — 342 4 — 304 Total $ 72,135 $ 36,817 $ 2,833 $ 73,836 $ 36,537 $ 2,362
Troubled Debt Restructurings	The following table outlines the amount of each loan category where troubled debt restructurings were made during the three months ended March 31, 2020 (in thousands): March 31, 2020 Number Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment, net of related allowance Consumer real estate – mortgage 1 807 807
Summary of Loan Portfolio Credit Risk Exposure	Pinnacle Financial analyzes its commercial loan portfolio to determine if a concentration of credit risk exists to any industries. Pinnacle Financial utilizes broadly accepted industry classification systems in order to classify borrowers into various industry classifications. Pinnacle Financial has a credit exposure (loans outstanding plus unfunded lines of credit) exceeding 25% of Pinnacle Bank's total risk-based capital to borrowers in the following industries at March 31, 2021 with the comparative exposures for December 31, 2020 (in thousands): March 31, 2021 Outstanding Principal Balances Unfunded Commitments Total exposure Total Exposure at December 31, 2020 Lessors of nonresidential buildings $ 3,553,989 $ 1,053,464 $ 4,607,453 $ 4,442,712 Lessors of residential buildings 1,348,050 814,962 2,163,012 2,126,246 Hotels (except Casino Hotels) and Motels 988,712 71,837 1,060,549 1,039,259 New Housing For-Sale Builders 489,417 747,732 1,237,149 1,124,302

Stock Options and Restricted _2

Stock Options and Restricted Shares (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of the stock option activity within the equity incentive plans during the three months ended March 31, 2021 and information regarding expected vesting, contractual terms remaining, intrinsic values and other matters is as follows: Number Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2020 101,769 $ 23.46 1.86 $ 4,169 (1) Granted — Exercised (13,246) Forfeited — Outstanding at March 31, 2021 88,523 $ 23.53 1.63 $ 5,766 (2) Options exercisable at March 31, 2021 88,523 $ 23.53 1.63 $ 5,766 (2) (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $64.40 per common share at December 31, 2020 for the 101,769 options that were in-the-money at December 31, 2020. (2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $88.66 per common share at March 31, 2021 for the 88,523 options that were in-the-money at March 31, 2021.
Summary of Activity for Unvested Restricted Share Awards	A summary of activity for unvested restricted share awards for the three months ended March 31, 2021 is as follows: Number Grant Date Unvested at December 31, 2020 594,669 $ 56.97 Shares awarded 183,839 Restrictions lapsed and shares released to associates/directors (129,599) Shares forfeited (11,420) Unvested at March 31, 2021 637,489 $ 61.00 Pinnacle Financial has granted restricted share awards to associates and outside directors with a time-based vesting criteria. Compensation expense associated with time-based vesting restricted share awards is recognized over the time period that the restrictions associated with the awards lapse on a straight-line basis based on the total cost of the award. The following table outlines restricted stock grants that were made, grouped by similar vesting criteria, during the three months ended March 31, 2021. The table reflects the life-to-date activity for these awards: Grant Group (1) Vesting Period in years Shares Restrictions lapsed and shares released to participants Shares withheld for taxes by participants Shares Forfeited by participants (4) Shares Unvested Time Based Awards 2021 Associates (2) 3 - 5 172,009 18 18 5,102 166,871 Outside Director Awards (3) 2021 Outside directors 1 11,830 — — — 11,830 (1) Groups include employees (referred to as associates above) and outside directors. When the restricted shares are awarded, a participant receives voting rights and forfeitable dividend rights with respect to the shares, but is not able to transfer the shares until the restrictions have lapsed. Once the restrictions lapse, the participant is taxed on the value of the award and may elect to sell some shares (or have Pinnacle Financial withhold some shares) to pay the applicable income taxes associated with the award. Alternatively, the recipient can pay the withholding taxes in cash. For time-based vesting restricted share awards, dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination. For awards to Pinnacle Financial's directors, dividends are placed into escrow until the forfeiture restrictions on such shares lapse. (2) The forfeiture restrictions on these restricted share awards lapse in equal annual installments on the anniversary date of the grant. (3) Restricted share awards are issued to the outside members of the board of directors in accordance with their board compensation plan. Restrictions lapse on March 1, 2022 based on each individual board member meeting attendance goals for the various board and board committee meetings to which each member was scheduled to attend. (4) These shares represent forfeitures resulting from recipients whose employment or board membership was terminated during the year-to-date period ended March 31, 2021. Any dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination or will not be distributed from escrow, as applicable.
Summary of Restricted Share Unit awards	Restricted Stock Unit Awards In 2021, Pinnacle Financial granted restricted stock units to its Named Executive Officers (NEOs) and leadership team members with time-based vesting criteria. Compensation expense associated with time-based vesting restricted stock unit awards is recognized over the time period that the restrictions associated with the awards lapse on a straight-line basis based on the total cost of the award. The following table outlines restricted stock unit grants that were made, grouped by similar vesting criteria, during the three months ended March 31, 2021. The table reflects the life-to-date activity for these awards: Grant Year Vesting Shares Restrictions lapsed and shares released to participants Shares withheld for taxes by participants Shares Forfeited by participants (1) Shares Unvested 2021 3 56,864 4 3 — 56,857 (1) These shares represent forfeitures resulting from recipients whose employment was terminated during the year-to-date period ended March 31, 2021. Dividend equivalents are held in escrow for award recipients for dividends paid prior to the forfeiture restrictions lapsing. Such dividend equivalents are not released from escrow if an award is forfeited. Performance Stock Unit Awards The following table details the performance stock unit awards outstanding at March 31, 2021: Units Awarded Grant year NEOs (1) Leadership Team other than NEOs Applicable Performance Periods associated with each tranche Service period per tranche Subsequent holding period per tranche Period in which units to be settled into shares of common stock (2) 2021 (3) 89,234 — 214,155 45,240 2021-2023 0 0 2024 2020 136,137 — 204,220 59,648 2020 2 3 2025 2021 2 2 2025 2022 2 1 2025 2019 166,211 — 249,343 52,244 2019 2 3 2024 2020 2 2 2024 2021 2 1 2024 2018 96,878 — 145,339 25,990 2018 2 3 2023 2019 2 2 2023 2020 2 1 2023 2017 72,537 — 109,339 24,916 2017 2 3 2022 2018 2 2 2022 2019 2 1 2022 (1) The named executive officers are awarded a range of awards that may be earned based on attainment of goals between a target level of performance and a maximum level of performance. (2) Performance stock unit awards granted prior to 2021, if earned, will be settled in shares of Pinnacle Financial Common Stock in the periods noted in the table, if Pinnacle Bank's ratio of non-performing assets to its loans plus ORE is less than amounts established in the applicable award agreement.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Interest Rate Swaps	A summary of Pinnacle Financial's interest rate swaps to facilitate customers' transactions as of March 31, 2021 and December 31, 2020 is included in the following table (in thousands): March 31, 2021 December 31, 2020 Notional Estimated Notional Estimated Interest rate swap agreements: Assets $ 1,618,283 $ 67,351 $ 1,565,916 $ 101,602 Liabilities 1,618,283 (68,218) 1,565,916 (102,919) Total $ 3,236,566 $ (867) $ 3,131,832 $ (1,317) The effects of Pinnacle Financial's interest rate swaps to facilitate customers' transactions on the income statement during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Amount of Gain (Loss) Recognized in Income Location of Loss Recognized in Income Three Months Ended March 31, 2021 2020 Interest rate swap agreements Other noninterest income $ 450 $ (343)
Schedule of Derivative Instruments	Derivatives designated as cash flow hedges For derivative instruments that are designated and qualify as a cash flow hedge, the aggregate fair value of the derivative instrument is recorded in other assets or other liabilities with any gain or loss related to changes in fair value recorded in accumulated other comprehensive income (loss), net of tax. The gain or loss is reclassified into earnings in the same period during which the hedged asset or liability affects earnings and is presented in the same income statement line item as the earnings effect of the hedged asset or liability. Pinnacle Financial uses forward cash flow hedge relationships in an effort to manage future interest rate exposure. The hedging strategy converts the LIBOR-based variable interest rate on forecasted borrowings to a fixed interest rate and is used in an effort to protect Pinnacle Financial from floating interest rate variability. A summary of Pinnacle Financial's cash flow hedge relationships as of March 31, 2021 and December 31, 2020 is as follows (in thousands): March 31, 2021 December 31, 2020 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Estimated Notional Estimated Asset derivatives Interest rate floor Other assets 3.69 —% 2.25% minus one-month LIBOR $ 1,500,000 $ 100,564 $ 1,500,000 $ 124,585 The effects of Pinnacle Financial's cash flow hedge relationships on the statement of comprehensive income (loss) during the three months ended March 31, 2021 and 2020 were as follows, net of tax (in thousands): Amount of Gain (Loss) Recognized Three Months Ended March 31, Asset derivatives 2021 2020 Interest rate floor - loans $ (15,274) $ 65,349 Liability derivatives Interest rate swaps - borrowings $ — $ (1,580) $ (15,274) $ 63,769 The cash flow hedges were determined to be highly effective during the periods presented and as a result qualify for hedge accounting treatment. If a hedge was deemed to be ineffective, the amount included in accumulated other comprehensive income (loss) would be reclassified into a line item within the statement of income that impacts operating results. The hedge would no longer be considered effective if a portion of the hedge becomes ineffective, the item hedged is no longer in existence or Pinnacle Financial discontinues hedge accounting. Pinnacle Financial expects the hedges at March 31, 2021 to continue to be highly effective and qualify for hedge accounting during the remaining terms of the original hedging transactions. Losses on cash flow hedges totaling $504,000 and $1.8 million, net of tax, were reclassified from accumulated other comprehensive income (loss) into net income during the three months ended March 31, 2021 and 2020, respectively. During the first quarter of 2020, loan interest rate floors with a notional amount totaling $1.3 billion and unrealized gains totaling $16.5 million were terminated. These unrealized gains are being amortized into income on a straight line basis through October 2021. Approximately $4.7 million in unrealized gains, net of tax, are expected to be reclassified from accumulated other comprehensive income (loss) into net income over the next twelve months related to terminated cash flow hedges. Derivatives designated as fair value hedges For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged asset or liability attributable to the hedged risk are recognized in current earnings. The gain or loss on the derivative instrument is presented on the same income statement line item as the earnings effect of the hedged item. Pinnacle Financial utilizes interest rate swaps designated as fair value hedges to mitigate the effect of changing interest rates on the fair values of fixed rate callable available-for-sale securities. The hedging strategy converts the fixed interest rates to LIBOR-based variable interest rates. These derivatives are designated as partial term hedges of selected cash flows covering specified periods of time prior to the call dates of the hedged securities. A summary of Pinnacle Financial's fair value hedge relationships as of March 31, 2021 and December 31, 2020 is as follows (in thousands): March 31, 2021 December 31, 2020 Balance Sheet Location Weighted Average Remaining Maturity (In Years) Weighted Average Pay Rate Receive Rate Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Asset Derivatives Interest rate swaps - securities Other assets 8.34 0.58% Federal Funds $ 231,421 $ 17,181 $ 231,421 $ 4,696 Liability derivatives Interest rate swaps - securities Other liabilities 5.79 3.08% 3 month LIBOR $ 477,510 $ (49,729) $ 477,510 $ (72,010) $ 708,931 $ (32,548) $ 708,931 $ (67,314) Notional amounts of $477.5 million included in the table receive a variable rate of interest based on three month LIBOR and notional amounts totaling $231.4 million receive a variable rate of interest based on the daily compounded federal funds rate. The effects of Pinnacle Financial's securities fair value hedge relationships on the income statement during the three months ended March 31, 2021 and 2020 were as follows (in thousands): Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income Three Months Ended March 31, 2021 2020 Interest rate swaps - securities Interest income on securities $ 34,766 $ (38,873) Securities available-for-sale Interest income on securities $ (34,766) $ 38,873 The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at March 31, 2021 and December 31, 2020 (in thousands): Carrying Amount of the Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Line item on the balance sheet Securities available-for-sale $ 804,207 $ 841,543 $ 32,548 $ 67,314 During the three months ended March 31, 2021 and 2020, amortization expense totaling $924,000 and $1.1 million, respectively, related to previously terminated fair value hedges was recognized as a reduction to interest income on loans.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present financial instruments measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, by caption on the consolidated balance sheets and by FASB ASC 820 valuation hierarchy (as described above) (in thousands): Total carrying value in the consolidated balance sheet Quoted market prices in an active market Models with significant observable market parameters Models with significant unobservable market parameters March 31, 2021 Investment securities available-for-sale: U.S. Treasury securities $ 83,993 $ — $ 83,993 $ — U.S. government agency securities 157,456 — 157,456 — Mortgage-backed securities 1,609,778 — 1,609,778 — State and municipal securities 1,512,360 — 1,498,847 13,513 Agency-backed securities 190,695 — 190,695 — Corporate notes and other 122,737 — 122,737 — Total investment securities available-for-sale 3,677,019 — 3,663,506 13,513 Other investments 87,347 — 25,218 62,129 Other assets 190,753 — 190,753 — Total assets at fair value $ 3,955,119 $ — $ 3,879,477 $ 75,642 Other liabilities $ 116,646 $ — $ 116,646 $ — Total liabilities at fair value $ 116,646 $ — $ 116,646 $ — December 31, 2020 Investment securities available-for-sale: U.S. Treasury securities $ 82,209 $ — $ 82,209 $ — U.S. government agency securities 76,403 — 76,403 — Mortgage-backed securities 1,689,191 — 1,689,191 — State and municipal securities 1,443,363 — 1,427,866 15,497 Agency-backed securities 177,936 — 177,936 — Corporate notes and other 117,579 — 117,579 — Total investment securities available-for-sale 3,586,681 — 3,571,184 15,497 Other investments 73,395 — 25,636 47,759 Other assets 242,470 — 242,470 — Total assets at fair value $ 3,902,546 $ — $ 3,839,290 $ 63,256 Other liabilities $ 177,025 $ — $ 177,025 $ — Total liabilities at fair value $ 177,025 $ — $ 177,025 $ —
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis	The following table presents assets measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020 (in thousands): March 31, 2021 Total carrying value in the consolidated balance sheet Quoted market prices in an active market Models with significant observable market parameters Models with significant unobservable market Other real estate owned $ 10,651 $ — $ — $ 10,651 Collateral dependent loans (1) 40,890 — — 40,890 Total $ 51,541 $ — $ — $ 51,541 December 31, 2020 Other real estate owned $ 12,360 $ — $ — $ 12,360 Collateral dependent loans (1) 43,795 — — 43,795 Total $ 56,155 $ — $ — $ 56,155 (1) The carrying values of collateral dependent loans at March 31, 2021 and December 31, 2020 are net of valuation allowances of $2.7 million and $3.5 million, respectively.
Rollforward of the Balance Sheet Amounts, Unobservable Input Reconciliation	The table below includes a rollforward of the balance sheet amounts for the three months ended March 31, 2021 and March 31, 2020 (including the change in fair value) for financial instruments classified by Pinnacle Financial within Level 3 of the valuation hierarchy measured at fair value on a recurring basis including changes in fair value due in part to observable factors that are part of the valuation methodology (in thousands): For the Three months ended March 31, 2021 2020 Available-for-sale Securities Other Available-for-sale Securities Other Fair value, beginning of period $ 15,497 $ 47,759 $ 15,903 $ 38,156 Total realized gains (losses) included in income 42 3,440 28 (174) Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end (1,875) — (21) — Purchases — 12,432 — 2,361 Issuances — — — — Settlements (151) (1,502) (1,143) (587) Transfers out of Level 3 — — — — Fair value, end of period $ 13,513 $ 62,129 $ 14,767 $ 39,756 Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at period-end $ 42 $ 3,440 $ 28 $ (174)
Carrying Amounts, Estimated Fair Value and Placement in the Fair Value Hierarchy of Financial Instruments	The following tables present the carrying amounts, estimated fair value and placement in the fair value hierarchy of Pinnacle Financial's financial instruments at March 31, 2021 and December 31, 2020. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash, cash equivalents, and restricted cash, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as non-interest bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity (in thousands): Carrying/ Estimated Fair Value (1) Quoted market prices in an active market Models with significant observable market parameters Models with significant unobservable market March 31, 2021 Financial assets: Securities purchased with agreement to resell $ 450,000 $ 433,935 $ — $ — $ 433,935 Securities held-to-maturity 1,014,345 1,033,749 — 1,033,749 — Loans, net 22,805,820 22,808,139 — — 22,808,139 Consumer loans held-for-sale 85,769 86,403 — 86,403 — Commercial loans held-for-sale 12,541 12,634 — 12,634 — Financial liabilities: Deposits and securities sold under agreements to repurchase 28,465,057 27,539,943 — — 27,539,943 Federal Home Loan Bank advances 888,115 928,035 — — 928,035 Subordinated debt and other borrowings 671,002 661,693 — — 661,693 Off-balance sheet instruments: Commitments to extend credit (2) 10,422,083 25,019 — — 25,019 December 31, 2020 Financial assets: Securities held-to-maturity $ 1,028,359 $ 1,066,531 $ — $ 1,066,531 $ — Loans, net 22,139,451 22,407,546 — — 22,407,546 Consumer loans held-for-sale 87,821 89,625 — 89,625 — Commercial loans held-for-sale 31,200 31,841 — 31,841 — Financial liabilities: Deposits and securities sold under agreements to repurchase 27,833,739 26,929,142 — — 26,929,142 Federal Home Loan Bank advances 1,087,927 1,189,035 — — 1,189,035 Subordinated debt and other borrowings 670,575 677,521 — — 677,521 Off-balance sheet instruments: Commitments to extend credit (2) 9,692,607 24,887 — — 24,887 (1) Estimated fair values are consistent with an exit-price concept. The assumptions used to estimate the fair values are intended to approximate those that a market-participant would realize in a hypothetical orderly transaction. (2) At the end of each quarter, Pinnacle Financial evaluates the inherent risks of the outstanding off-balance sheet commitments, including both commitments for unfunded loans and standby letters of credit. In making this evaluation, Pinnacle Financial utilizes credit loss expectations on funded loans from our allowance for credit losses methodology and evaluates the probability that the outstanding commitment will eventually become a funded loan. As a result, at March 31, 2021 and December 31, 2020, Pinnacle Financial included in other liabilities $23.2 million, representing expected credit losses on off-balance sheet commitments, which are reflected in the estimated fair values of the related commitments. Also included in the fair values at March 31, 2021 and December 31, 2020 are unamortized fees related to these commitments of $1.8 million and $1.7 million, respectively.

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2021
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Summary of Regulatory Capital Requirement	Management believes, as of March 31, 2021, that Pinnacle Financial and Pinnacle Bank met all capital adequacy requirements to which they are subject. To be categorized as well-capitalized under applicable banking regulations, Pinnacle Bank must maintain certain total risk-based, Tier 1 risk-based, common equity Tier 1 and Tier 1 leverage ratios as set forth in the following table and not be subject to a written agreement, order or directive to maintain a higher capital level. The capital conservation buffer is not included in the required ratios of the table presented below. Pinnacle Financial's and Pinnacle Bank's actual capital amounts and resulting ratios, not including the capital conservation buffer, are presented in the following table (in thousands): Actual Minimum Capital Minimum Amount Ratio Amount Ratio Amount Ratio At March 31, 2021 Total capital to risk weighted assets: Pinnacle Financial $ 3,784,041 14.5 % $ 2,088,413 8.0 % $ 2,610,516 10.0 % Pinnacle Bank $ 3,382,392 13.0 % $ 2,081,224 8.0 % $ 2,601,529 10.0 % Tier 1 capital to risk weighted assets: Pinnacle Financial $ 2,911,788 11.2 % $ 1,566,309 6.0 % $ 2,088,413 8.0 % Pinnacle Bank $ 3,059,140 11.8 % $ 1,560,918 6.0 % $ 2,081,224 8.0 % Common equity Tier 1 capital to risk weighted assets Pinnacle Financial $ 2,694,539 10.3 % $ 1,174,732 4.5 % NA NA Pinnacle Bank $ 3,059,017 11.8 % $ 1,170,688 4.5 % $ 1,690,994 6.5 % Tier 1 capital to average assets (*): Pinnacle Financial $ 2,911,788 8.9 % $ 1,306,257 4.0 % NA NA Pinnacle Bank $ 3,059,140 9.4 % $ 1,302,421 4.0 % $ 1,628,026 5.0 % At December 31, 2020 Total capital to risk weighted assets: Pinnacle Financial $ 3,678,405 14.3 % $ 2,063,352 8.0 % $ 2,579,190 10.0 % Pinnacle Bank $ 3,259,538 12.7 % $ 2,055,892 8.0 % $ 2,569,865 10.0 % Tier 1 capital to risk weighted assets: Pinnacle Financial $ 2,803,541 10.9 % $ 1,547,514 6.0 % $ 2,063,352 8.0 % Pinnacle Bank $ 2,933,674 11.4 % $ 1,541,919 6.0 % $ 2,055,892 8.0 % Common equity Tier 1 capital to risk weighted assets Pinnacle Financial $ 2,586,292 10.0 % $ 1,160,635 4.5 % NA NA Pinnacle Bank $ 2,933,551 11.4 % $ 1,156,439 4.5 % $ 1,670,412 6.5 % Tier 1 capital to average assets (*): Pinnacle Financial $ 2,803,541 8.6 % $ 1,298,756 4.0 % NA NA Pinnacle Bank $ 2,933,674 9.1 % $ 1,294,033 4.0 % $ 1,617,541 5.0 % (*) Average assets for the above calculations were based on the most recent quarter.

Other borrowings (Tables)

Other borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Subordinated Debt [Abstract]
Schedule of Other Borrowings	Pinnacle Financial has twelve wholly-owned subsidiaries that are statutory business trusts created for the exclusive purpose of issuing 30-year capital trust preferred securities and Pinnacle Financial and Pinnacle Bank have entered into certain other subordinated debt agreements. These instruments are outlined below as of March 31, 2021 (in thousands): Name Date Maturity Total Debt Outstanding Interest Rate at March 31, 2021 Coupon Structure Trust preferred securities Pinnacle Statutory Trust I December 29, 2003 December 30, 2033 $ 10,310 2.98 % 30-day LIBOR + 2.80% Pinnacle Statutory Trust II September 15, 2005 September 30, 2035 20,619 1.60 % 30-day LIBOR + 1.40% Pinnacle Statutory Trust III September 7, 2006 September 30, 2036 20,619 1.85 % 30-day LIBOR + 1.65% Pinnacle Statutory Trust IV October 31, 2007 September 30, 2037 30,928 3.03 % 30-day LIBOR + 2.85% BNC Capital Trust I April 3, 2003 April 15, 2033 5,155 3.49 % 30-day LIBOR + 3.25% BNC Capital Trust II March 11, 2004 April 7, 2034 6,186 3.09 % 30-day LIBOR + 2.85% BNC Capital Trust III September 23, 2004 September 23, 2034 5,155 2.64 % 30-day LIBOR + 2.40% BNC Capital Trust IV September 27, 2006 December 31, 2036 7,217 1.90 % 30-day LIBOR + 1.70% Valley Financial Trust I June 26, 2003 June 26, 2033 4,124 3.30 % 30-day LIBOR + 3.10% Valley Financial Trust II September 26, 2005 December 15, 2035 7,217 1.67 % 30-day LIBOR + 1.49% Valley Financial Trust III December 15, 2006 January 30, 2037 5,155 1.94 % 30-day LIBOR + 1.73% Southcoast Capital Trust III August 5, 2005 September 30, 2035 10,310 1.70 % 30-day LIBOR + 1.50% Subordinated Debt Pinnacle Bank Subordinated Notes July 30, 2015 July 30, 2025 60,000 3.33 % 3-month LIBOR + 3.128% Pinnacle Bank Subordinated Notes March 10, 2016 July 30, 2025 70,000 3.33 % 3-month LIBOR + 3.128% Pinnacle Financial Subordinated Notes November 16, 2016 November 16, 2026 120,000 5.25 % Fixed (1) Pinnacle Financial Subordinated Notes September 11, 2019 September 15, 2029 300,000 4.13 % Fixed (2) Debt issuance costs and fair value adjustments (11,993) Total subordinated debt and other borrowings $ 671,002 (1) Migrates to three month LIBOR + 3.884% beginning November 16, 2021 through the end of the term. (2) Migrates to three month LIBOR + 2.775% beginning September 15, 2024 through the end of the term.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	Mar. 31, 2021market
Accounting Policies [Abstract]
Number of markets entity operates	12
Bankers Healthcare Group, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest (as percent)	49.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2018
Cash Transactions:
Interest paid	$ 38,362	$ 77,748
Income taxes paid, net	433	620
Operating lease payments	3,516	3,424
Noncash Transactions:
Loans charged-off to the allowance for credit losses	14,274	11,693
Loans foreclosed upon and transferred to other real estate owned	139	1,800
Available-for-sale securities transferred to held-to-maturity portfolio	0	873,613	$ 179,800
Right of use assets recognized during the period in exchange for lease obligations	$ 531	$ 716

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Basic and Diluted Net Income Per Share Calculations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Basic net income per common share calculation:
Net income available to common shareholders	$ 121,630	$ 28,356
Denominator - Weighted average common shares outstanding (in shares)	75,372,883	75,803,402
Basic net income per common share (in dollars per share)	$ 1.61	$ 0.37
Diluted net income per common share calculation:
Numerator – Net income available to common shareholders	$ 121,630	$ 28,356
Denominator - Weighted average common shares outstanding (in shares)	75,373,000	75,803,000
Dilutive shares contingently issuable (in shares)	284,000	163,000
Weighted average diluted common shares outstanding (in shares)	75,657,149	75,966,295
Diluted net income per common share (in dollars per share)	$ 1.61	$ 0.37

Equity method investment - Fina

Equity method investment - Financial Position and Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Assets	$ 35,299,705		$ 34,932,860
Liabilities	30,340,181		30,028,249
Total liabilities and shareholders' equity	35,299,705		34,932,860
Bankers Healthcare Group, LLC
Schedule of Equity Method Investments [Line Items]
Assets	1,608,912		1,330,317
Liabilities	1,334,066		1,088,135
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	274,846		242,182
Total liabilities and shareholders' equity	1,608,912		$ 1,330,317
Revenues	157,623	$ 97,943
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 58,562	$ 32,471

Equity method investment - Narr

Equity method investment - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Technology, trade name and customer relationship intangibles	$ 40,130,000		$ 42,336,000
Amortization of Intangible Assets	2,206,000	$ 2,520,000
Dividends received from equity method investment	9,993,000	7,957,000
Bankers Healthcare Group, LLC
Schedule of Equity Method Investments [Line Items]
Technology, trade name and customer relationship intangibles	7,400,000		$ 7,600,000
Amortization of Intangible Assets	188,000	293,000
Accretion income	452,000	564,000
Dividends received from equity method investment	10,000,000	8,000,000
Payments to Acquire Loans Held-for-investment	$ 74,600,000	$ 0

Securities Securities - Narrati

Securities Securities - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2018	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities transferred to held-to-maturity portfolio	$ 0	$ 873,613,000	$ 179,800,000
Unrealized after tax gain (loss) on available for sale securities transferred to the held to maturity portfolio		69,000,000	$ (2,200,000)
Securities pledged as collateral to secure public funds and other deposits or securities sold under agreements to repurchase	609,800,000
Secured borrowing under agreement to repurchase	172,100,000
Accumulated unrealized losses	29,897,000			$ 17,837,000
Fair value of securities	1,229,973,000			871,433,000
Allowance for credit losses - securities held-to-maturity	(198,000)			$ (191,000)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	342,000
Proceeds from Sale of Available-for-sale Securities	0	$ 30,204,000
Securities pledged as collateral
Debt Securities, Available-for-sale [Line Items]
Secured borrowing under agreement to repurchase	$ 172,100,000

Securities - Amortized Cost and

Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Securities available-for-sale [Abstract]
Amortized Cost	$ 3,620,716,000	$ 3,487,296,000
Gross Unrealized Gains	85,513,000	117,222,000
Gross Unrealized Losses	29,210,000	17,837,000
Securities available-for-sale, at fair value	3,677,019,000	3,586,681,000
Available-for-sale, Amortized Cost [Abstract]
Due in one year or less	88,478,000
Due in one year to five years	13,022,000
Due in five years to ten years	265,259,000
Due after ten years	1,479,282,000
Mortgage-backed securities	1,583,670,000
Asset-backed securities	191,005,000
Amortized Cost	3,620,716,000
Available-for-sale, Fair Value [Abstract]
Due in one year or less	88,502,000
Due in one year to five years	13,266,000
Due in five years to ten years	278,713,000
Due after ten years	1,496,065,000
Mortgage-backed securities	1,609,778,000
Asset-backed securities	190,695,000
Securities available-for-sale, at fair value	3,677,019,000	3,586,681,000
Securities held-to-maturity [Abstract]
Amortized Cost	1,014,543,000	1,028,550,000
Allowance for credit losses - securities held-to-maturity	(198,000)	(191,000)
HeldToMaturitySecurities, net of allowance for credit losses	1,014,345,000	1,028,359,000
Gross Unrealized Gains	22,320,000	38,272,000
Gross Unrealized Losses	3,114,000	291,000
Securities held-to-maturity, fair value	1,033,749,000	1,066,531,000
Held-to-maturity, Amortized Cost [Abstract]
Due in one year or less	0
Due in one year to five years	1,409,000
Due in five years to ten years	7,152,000
Due after ten years	1,005,982,000
Mortgage-backed securities	0
Asset-backed securities	0
Amortized Cost	1,014,543,000	1,028,550,000
Held-to-maturity, Fair Value [Abstract]
Due in one year or less	0
Due in one year to five years	1,476,000
Due in five years to ten years	7,223,000
Due after ten years	1,025,050,000
Mortgage-backed securities	0
Asset-backed securities	0
Fair Value	1,033,749,000	1,066,531,000
U.S. Treasury securities
Securities available-for-sale [Abstract]
Amortized Cost	83,971,000	82,199,000
Gross Unrealized Gains	22,000	10,000
Gross Unrealized Losses	0	0
Securities available-for-sale, at fair value	83,993,000	82,209,000
Available-for-sale, Fair Value [Abstract]
Securities available-for-sale, at fair value	83,993,000	82,209,000
U.S. government agency securities
Securities available-for-sale [Abstract]
Amortized Cost	159,613,000	74,916,000
Gross Unrealized Gains	1,224,000	1,547,000
Gross Unrealized Losses	3,381,000	60,000
Securities available-for-sale, at fair value	157,456,000	76,403,000
Available-for-sale, Fair Value [Abstract]
Securities available-for-sale, at fair value	157,456,000	76,403,000
Mortgage-backed securities
Securities available-for-sale [Abstract]
Amortized Cost	1,583,670,000	1,623,759,000
Gross Unrealized Gains	40,921,000	67,759,000
Gross Unrealized Losses	14,813,000	2,327,000
Securities available-for-sale, at fair value	1,609,778,000	1,689,191,000
Available-for-sale, Fair Value [Abstract]
Securities available-for-sale, at fair value	1,609,778,000	1,689,191,000
State and municipal securities
Securities available-for-sale [Abstract]
Amortized Cost	1,480,691,000	1,411,288,000
Gross Unrealized Gains	40,140,000	44,559,000
Gross Unrealized Losses	8,471,000	12,484,000
Securities available-for-sale, at fair value	1,512,360,000	1,443,363,000
Available-for-sale, Fair Value [Abstract]
Securities available-for-sale, at fair value	1,512,360,000	1,443,363,000
Securities held-to-maturity [Abstract]
Amortized Cost	1,014,543,000	1,028,550,000
Gross Unrealized Gains	22,320,000	38,272,000
Gross Unrealized Losses	3,114,000	291,000
Securities held-to-maturity, fair value	1,033,749,000	1,066,531,000
Held-to-maturity, Amortized Cost [Abstract]
Amortized Cost	1,014,543,000	1,028,550,000
Held-to-maturity, Fair Value [Abstract]
Fair Value	1,033,749,000	1,066,531,000
Asset-backed securities
Securities available-for-sale [Abstract]
Amortized Cost	191,005,000	177,878,000
Gross Unrealized Gains	382,000	715,000
Gross Unrealized Losses	692,000	657,000
Securities available-for-sale, at fair value	190,695,000	177,936,000
Available-for-sale, Fair Value [Abstract]
Securities available-for-sale, at fair value	190,695,000	177,936,000
Corporate notes and other
Securities available-for-sale [Abstract]
Amortized Cost	121,766,000	117,256,000
Gross Unrealized Gains	2,824,000	2,632,000
Gross Unrealized Losses	1,853,000	2,309,000
Securities available-for-sale, at fair value	122,737,000	117,579,000
Available-for-sale, Fair Value [Abstract]
Securities available-for-sale, at fair value	$ 122,737,000	$ 117,579,000

Securities- Unrealized Losses (

Securities- Unrealized Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	$ 901,524	$ 407,150
Investments with an unrealized loss of less than 12 months, unrealized losses	23,235	4,277
Investments with an unrealized loss of 12 months or longer, fair value	328,449	464,283
Investments with an unrealized loss of 12 months or longer, unrealized losses	6,662	13,560
Total investments with an unrealized loss, fair value	1,229,973	871,433
Total investments with an unrealized loss, unrealized losses	29,897	17,837
U.S. Treasury securities
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	0	0
Investments with an unrealized loss of less than 12 months, unrealized losses	0	0
Investments with an unrealized loss of 12 months or longer, fair value	0	0
Investments with an unrealized loss of 12 months or longer, unrealized losses	0	0
Total investments with an unrealized loss, fair value	0	0
Total investments with an unrealized loss, unrealized losses	0	0
U.S. government agency securities
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	109,710	9,962
Investments with an unrealized loss of less than 12 months, unrealized losses	3,355	38
Investments with an unrealized loss of 12 months or longer, fair value	5,701	6,091
Investments with an unrealized loss of 12 months or longer, unrealized losses	26	22
Total investments with an unrealized loss, fair value	115,411	16,053
Total investments with an unrealized loss, unrealized losses	3,381	60
Mortgage-backed securities
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	427,992	165,696
Investments with an unrealized loss of less than 12 months, unrealized losses	14,434	1,772
Investments with an unrealized loss of 12 months or longer, fair value	30,072	35,997
Investments with an unrealized loss of 12 months or longer, unrealized losses	379	555
Total investments with an unrealized loss, fair value	458,064	201,693
Total investments with an unrealized loss, unrealized losses	14,813	2,327
State and municipal securities
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	287,208	175,115
Investments with an unrealized loss of less than 12 months, unrealized losses	4,779	2,220
Investments with an unrealized loss of 12 months or longer, fair value	253,998	345,435
Investments with an unrealized loss of 12 months or longer, unrealized losses	4,379	10,264
Total investments with an unrealized loss, fair value	541,206	520,550
Total investments with an unrealized loss, unrealized losses	9,158	12,484
Asset-backed securities
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	62,619	46,399
Investments with an unrealized loss of less than 12 months, unrealized losses	662	207
Investments with an unrealized loss of 12 months or longer, fair value	13,228	52,840
Investments with an unrealized loss of 12 months or longer, unrealized losses	30	450
Total investments with an unrealized loss, fair value	75,847	99,239
Total investments with an unrealized loss, unrealized losses	692	657
Corporate notes
Available-for-sale securities, continuous unrealized loss position [Abstract]
Investments with an unrealized loss of less than 12 months, fair value	13,995	9,978
Investments with an unrealized loss of less than 12 months, unrealized losses	5	40
Investments with an unrealized loss of 12 months or longer, fair value	25,450	23,920
Investments with an unrealized loss of 12 months or longer, unrealized losses	1,848	2,269
Total investments with an unrealized loss, fair value	39,445	33,898
Total investments with an unrealized loss, unrealized losses	$ 1,853	$ 2,309

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of loan portfolio as commercial loan	78.20%
Risk rated loans	$ 1,000
Percentage of credit exposure to risk based capital	25.00%
Loans and other extensions of credit granted to directors, executive officers, and their related entities	$ 8,200		$ 10,700
Amount drawn from loans and other extensions of credit granted	5,600		6,800
Commercial loans held-for-sale	12,541		31,200
Mortgage loans held-for-sale	71,700		67,800
Loans sold	547,000	$ 286,700
Gain (Loss) on Sale of Mortgage Loans	13,666	$ 8,583
Loans and Leases Receivable, Net of Deferred Income	23,086,701		22,424,501
Section 4013 Cares Act Loan Modifications	835,100
Paycheck Protection Program [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 2,200,000		$ 1,800,000
Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of credit exposure to risk based capital	76.00%		89.00%
Non-owner occupied commercial real estate and multifamily loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of credit exposure to risk based capital	256.00%		264.00%

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 23,086,701	$ 22,424,501
Loan losses, allowance	280,881	285,050
Loans and Leases Receivable, Net Amount	22,805,820	22,139,451
Commercial real estate - Owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,869,785	2,802,227
Commercial real estate - Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	5,573,181	5,203,384
Consumer real estate – mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	3,086,916	3,099,172
Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,568,969	2,901,746
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	8,576,528	8,038,457
Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 411,322	$ 379,515

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Loan Classification by Risk Rating Category (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
2021		$ 2,776,700
2020		7,314,277
2019		3,992,488
2018		2,215,245
2017		1,293,225
Prior		1,964,579
Revolving Loans		3,530,187
Total		23,086,701	$ 22,424,501
Potential problem loans not included in nonperforming assets		160,800	173,500
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		2,761,358
2020		6,643,781
2019		3,735,521
2018		2,115,454
2017		1,152,995
Prior		1,808,130
Revolving Loans		3,468,908
Total		21,686,147
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		8,600
2020		593,082
2019		224,401
2018		72,300
2017		121,247
Prior		117,274
Revolving Loans		30,689
Total		1,167,593
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	[1]	5,463
2020	[1]	51,266
2019	[1]	23,536
2018	[1]	22,634
2017	[1]	16,366
Prior	[1]	19,894
Revolving Loans	[1]	21,667
Total	[1]	160,826
Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		1,279
2020		26,148
2019		9,030
2018		4,857
2017		2,617
Prior		19,281
Revolving Loans		8,923
Total		72,135
Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Commercial real estate - Owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
2021		186,342
2020		860,251
2019		484,369
2018		444,564
2017		310,594
Prior		503,750
Revolving Loans		79,915
Total		2,869,785	2,802,227
Commercial real estate - Owner occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		185,030
2020		818,913
2019		454,195
2018		415,769
2017		287,792
Prior		482,233
Revolving Loans		75,410
Total		2,719,342
Commercial real estate - Owner occupied | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		843
2020		21,745
2019		23,153
2018		18,193
2017		9,943
Prior		7,773
Revolving Loans		100
Total		81,750
Commercial real estate - Owner occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	[1]	0
2020	[1]	15,418
2019	[1]	6,878
2018	[1]	7,720
2017	[1]	12,034
Prior	[1]	9,215
Revolving Loans	[1]	4,405
Total	[1]	55,670
Commercial real estate - Owner occupied | Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		469
2020		4,175
2019		143
2018		2,882
2017		825
Prior		4,529
Revolving Loans		0
Total		13,023
Commercial real estate - Owner occupied | Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Commercial real estate - Non-owner occupied
Financing Receivable, Credit Quality Indicator [Line Items]
2021		371,805
2020		1,707,370
2019		1,278,098
2018		709,072
2017		566,825
Prior		863,499
Revolving Loans		76,512
Total		5,573,181	5,203,384
Commercial real estate - Non-owner occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		363,560
2020		1,195,970
2019		1,148,016
2018		655,692
2017		460,511
Prior		753,838
Revolving Loans		76,477
Total		4,654,064
Commercial real estate - Non-owner occupied | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		4,790
2020		499,220
2019		128,032
2018		49,715
2017		104,627
Prior		101,186
Revolving Loans		35
Total		887,605
Commercial real estate - Non-owner occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	[1]	3,364
2020	[1]	12,177
2019	[1]	1,634
2018	[1]	3,092
2017	[1]	1,687
Prior	[1]	6,099
Revolving Loans		0
Total	[1]	28,053
Commercial real estate - Non-owner occupied | Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		91
2020		3
2019		416
2018		573
2017		0
Prior		2,376
Revolving Loans		0
Total		3,459
Commercial real estate - Non-owner occupied | Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Consumer real estate – mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
2021		208,214
2020		704,468
2019		436,261
2018		279,820
2017		147,980
Prior		388,469
Revolving Loans		921,704
Total		3,086,916	3,099,172
Consumer real estate – mortgage | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		208,011
2020		703,564
2019		432,848
2018		278,303
2017		146,508
Prior		374,293
Revolving Loans		917,280
Total		3,060,807
Consumer real estate – mortgage | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		121
2020		0
2019		0
2018		710
2017		66
Prior		957
Revolving Loans		0
Total		1,854
Consumer real estate – mortgage | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020	[1]	661
2019		0
2018	[1]	0
2017	[1]	183
Prior	[1]	1,872
Revolving Loans	[1]	1,760
Total	[1]	4,476
Consumer real estate – mortgage | Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		82
2020		243
2019		3,413
2018		807
2017		1,223
Prior		11,347
Revolving Loans		2,664
Total		19,779
Consumer real estate – mortgage | Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Construction and land development
Financing Receivable, Credit Quality Indicator [Line Items]
2021		232,072
2020		1,166,992
2019		826,244
2018		275,582
2017		32,215
Prior		24,450
Revolving Loans		11,414
Total		2,568,969	2,901,746
Construction and land development | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		230,571
2020		1,127,479
2019		817,068
2018		275,489
2017		32,141
Prior		19,315
Revolving Loans		11,414
Total		2,513,477
Construction and land development | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		1,501
2020		38,796
2019		8,638
2018		0
2017		0
Prior		4,243
Revolving Loans		0
Total		53,178
Construction and land development | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020	[1]	354
2019	[1]	14
2018	[1]	25
2017		0
Prior	[1]	363
Revolving Loans		0
Total	[1]	756
Construction and land development | Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		363
2019		524
2018		68
2017		74
Prior		529
Revolving Loans		0
Total		1,558
Construction and land development | Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2021		1,685,064
2020		2,754,648
2019		953,621
2018		501,142
2017		230,133
Prior		180,244
Revolving Loans		2,271,676
Total		8,576,528	8,038,457
Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		1,680,983
2020		2,677,307
2019		869,499
2018		485,136
2017		220,590
Prior		174,287
Revolving Loans		2,219,361
Total		8,327,163
Commercial and industrial | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		1,345
2020		33,321
2019		64,578
2018		3,682
2017		6,611
Prior		3,115
Revolving Loans		30,554
Total		143,206
Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021	[1]	2,099
2020	[1]	22,656
2019	[1]	15,010
2018	[1]	11,797
2017	[1]	2,462
Prior	[1]	2,345
Revolving Loans	[1]	15,502
Total	[1]	71,871
Commercial and industrial | Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		637
2020		21,364
2019		4,534
2018		527
2017		470
Prior		497
Revolving Loans		6,259
Total		34,288
Commercial and industrial | Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2021		93,203
2020		120,548
2019		13,895
2018		5,065
2017		5,478
Prior		4,167
Revolving Loans		168,966
Total		411,322	$ 379,515
Consumer and other | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2021		93,203
2020		120,548
2019		13,895
2018		5,065
2017		5,453
Prior		4,164
Revolving Loans		168,966
Total		411,294
Consumer and other | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		0
Consumer and other | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total	[1]	0
Consumer and other | Substandard-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		25
Prior		3
Revolving Loans		0
Total		28
Consumer and other | Doubtful-nonaccrual
Financing Receivable, Credit Quality Indicator [Line Items]
2021		0
2020		0
2019		0
2018		0
2017		0
Prior		0
Revolving Loans		0
Total		$ 0
[1]	Potential problem loans represent those loans with a well-defined weakness and where information about possible credit problems of borrowers has caused management to have doubts about the borrower's ability to comply with present repayment terms. This definition is believed to be substantially consistent with the standards established by Pinnacle Bank's primary regulators for loans classified as substandard, excluding troubled debt restructurings. Potential problem loans, which are not included in nonaccrual loans, amounted to approximately $160.8 million at March 31, 2021, compared to $173.5 million at December 31, 2020.

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Financing Receivables Past Due (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 23,086,701	$ 22,424,501
30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	20,770	31,881
60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	3,977	15,721
90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	16,401	17,443
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	41,148	65,045
Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	23,045,553	22,359,456
Commercial real estate - Owner occupied
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,869,785	2,802,227
Commercial real estate - Owner occupied | 30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,906	934
Commercial real estate - Owner occupied | 60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	69	2,672
Commercial real estate - Owner occupied | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,957	1,860
Commercial real estate - Owner occupied | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	4,932	5,466
Commercial real estate - Owner occupied | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,864,853	2,796,761
Commercial real estate - Non-owner occupied
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	5,573,181	5,203,384
Commercial real estate - Non-owner occupied | 30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,714	726
Commercial real estate - Non-owner occupied | 60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	0	6,220
Commercial real estate - Non-owner occupied | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,526	3,861
Commercial real estate - Non-owner occupied | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	4,240	10,807
Commercial real estate - Non-owner occupied | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	5,568,941	5,192,577
Consumer real estate – mortgage
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	3,086,916	3,099,172
Consumer real estate – mortgage | 30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	5,303	8,859
Consumer real estate – mortgage | 60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	790	328
Consumer real estate – mortgage | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	5,816	6,274
Consumer real estate – mortgage | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	11,909	15,461
Consumer real estate – mortgage | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	3,075,007	3,083,711
Construction and land development
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,568,969	2,901,746
Construction and land development | 30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	137	278
Construction and land development | 60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	0	418
Construction and land development | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	383	736
Construction and land development | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	520	1,432
Construction and land development | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,568,449	2,900,314
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	8,576,528	8,038,457
Commercial and industrial | 30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	10,913	20,278
Commercial and industrial | 60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	2,895	5,801
Commercial and industrial | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	4,377	4,408
Commercial and industrial | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	18,185	30,487
Commercial and industrial | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	8,558,343	8,007,970
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	411,322	379,515
Consumer and other | 30-59 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	797	806
Consumer and other | 60-89 days past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	223	282
Consumer and other | 90 days or more past due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	342	304
Consumer and other | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	1,362	1,392
Consumer and other | Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans and Leases Receivable, Net of Deferred Income	$ 409,960	$ 378,123

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 285,050	$ 94,777
Impact of adopting ASC 326		38,102
Charged-off loans	(14,274)	(11,693)
Recovery of previously charged-off loans	2,877	1,538
Provision for Loan and Lease Losses	7,228	99,741
Ending Balance	280,881	222,465
Commercial real estate - Owner occupied
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	23,298	13,406
Impact of adopting ASC 326		264
Charged-off loans	(697)	(1,561)
Recovery of previously charged-off loans	602	145
Provision for Loan and Lease Losses	(1,138)	11,380
Ending Balance	22,065	23,634
Commercial real estate - Non-owner occupied
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	79,132	19,963
Impact of adopting ASC 326		(4,740)
Charged-off loans	(140)	(261)
Recovery of previously charged-off loans	12	93
Provision for Loan and Lease Losses	1,515	17,059
Ending Balance	80,519	32,114
Consumer real estate – mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	33,304	8,054
Impact of adopting ASC 326		21,029
Charged-off loans	(371)	(930)
Recovery of previously charged-off loans	365	190
Provision for Loan and Lease Losses	(3,099)	4,655
Ending Balance	30,199	32,998
Construction and land development
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	42,408	12,662
Impact of adopting ASC 326		(3,144)
Charged-off loans	(367)	0
Recovery of previously charged-off loans	37	43
Provision for Loan and Lease Losses	(4,436)	29,350
Ending Balance	37,642	38,911
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	98,423	36,112
Impact of adopting ASC 326		23,040
Charged-off loans	(11,749)	(7,734)
Recovery of previously charged-off loans	1,206	748
Provision for Loan and Lease Losses	13,196	35,894
Ending Balance	101,076	88,060
Consumer and other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	8,485	3,595
Impact of adopting ASC 326		2,638
Charged-off loans	(950)	(1,207)
Recovery of previously charged-off loans	655	319
Provision for Loan and Lease Losses	1,190	1,403
Ending Balance	9,380	6,748
Unallocated
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	0	985
Impact of adopting ASC 326		(985)
Charged-off loans	0	0
Recovery of previously charged-off loans	0	0
Provision for Loan and Lease Losses	0	0
Ending Balance	$ 0	$ 0

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses - Details on Allowance for Loan Losses and Recorded Investment by Loan Classification and Impairment Evaluation Method (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	$ 63,233	$ 74,292
Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	50,683	51,812
Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	11,888	22,437
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	662	43
Commercial real estate - Owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	19,165	15,681
Commercial real estate - Owner occupied | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	19,165	15,681
Commercial real estate - Owner occupied | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Commercial real estate - Owner occupied | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Commercial real estate - Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	5,187	7,000
Commercial real estate - Non-owner occupied | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	5,187	7,000
Commercial real estate - Non-owner occupied | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Commercial real estate - Non-owner occupied | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Consumer real estate – mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	24,683	27,082
Consumer real estate – mortgage | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	24,683	27,082
Consumer real estate – mortgage | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Consumer real estate – mortgage | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	1,648	2,049
Construction and land development | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	1,648	2,049
Construction and land development | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Construction and land development | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	12,522	22,476
Commercial and industrial | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Commercial and industrial | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	11,888	22,437
Commercial and industrial | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	634	39
Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	28	4
Consumer and other | Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Consumer and other | Business Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0
Consumer and other | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	$ 28	$ 4

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses - Nonaccrual and Past Due Greater than 90 Days (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	$ 72,135	$ 73,836
Financing Receivable, Nonaccrual, No Allowance	36,817	36,537
Financing Receivable, 90 Days or More Past Due, Still Accruing	2,833	2,362
Commercial real estate - Owner occupied
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	13,023	10,231
Financing Receivable, Nonaccrual, No Allowance	8,955	5,985
Financing Receivable, 90 Days or More Past Due, Still Accruing	0	0
Commercial real estate - Non-owner occupied
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	3,459	5,219
Financing Receivable, Nonaccrual, No Allowance	0	1,522
Financing Receivable, 90 Days or More Past Due, Still Accruing	0	0
Consumer real estate – mortgage
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	19,779	22,191
Financing Receivable, Nonaccrual, No Allowance	0	0
Financing Receivable, 90 Days or More Past Due, Still Accruing	0	273
Construction and land development
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	1,558	1,953
Financing Receivable, Nonaccrual, No Allowance	0	0
Financing Receivable, 90 Days or More Past Due, Still Accruing	0	0
Commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	34,288	34,238
Financing Receivable, Nonaccrual, No Allowance	27,862	29,030
Financing Receivable, 90 Days or More Past Due, Still Accruing	2,491	1,785
Consumer and other
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans	28	4
Financing Receivable, Nonaccrual, No Allowance	0	0
Financing Receivable, 90 Days or More Past Due, Still Accruing	$ 342	$ 304

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses - Recorded Investment, Principal Balance and Related Allowance (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Valuation allowance	$ 2,700,000		$ 3,500,000
Impaired Financing Receivable, Interest Income, Cash Basis Method	0	$ 0
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	696,000	$ 713,000
Currently performing impaired loans	$ 51,700,000		$ 51,700,000

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings performing as of restructure date	$ 2,500		$ 2,500
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts	0	0
Consumer real estate – mortgage
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of contracts		1
Pre Modification Outstanding Recorded Investment		$ 807
Post Modification Outstanding Recorded Investment, net of related allowance		$ 807

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses - Industry Classification System (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Lessors of nonresidential buildings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding Principal Balances	$ 3,553,989
Unfunded Commitments	1,053,464
Total exposure	4,607,453	$ 4,442,712
Lessors of residential buildings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding Principal Balances	1,348,050
Unfunded Commitments	814,962
Total exposure	2,163,012	2,126,246
Hotels (except Casino Hotels) and Motels
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding Principal Balances	988,712
Unfunded Commitments	71,837
Total exposure	1,060,549	1,039,259
New Housing For-Sale Builders
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding Principal Balances	489,417
Unfunded Commitments	747,732
Total exposure	$ 1,237,149	$ 1,124,302

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 9,700,000		$ 9,700,000
Unrecognized Tax Benefits, Period Increase (Decrease)	0	$ 0
Interest and penalties	$ 0	$ 0
Effective income tax rate (as percent)	18.40%	(6.20%)
Federal and State income tax statutory rate (as percent)	26.14%	26.14%
Excess tax benefit	$ 1,600,000	$ 862,000
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount		$ 22,400,000

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Off-Balance Sheet, Credit Loss, Liability	$ 23.2	$ 23.2
Commitments
Loss Contingencies [Line Items]
Amount of commitment	10,200
Home Equity Line of Credit
Loss Contingencies [Line Items]
Amount of commitment	$ 1,200
Standby letter of credit
Loss Contingencies [Line Items]
Expiry period of standby letter of credit, maximum	2 years
Amount of commitment	$ 237.7

Stock Options and Restricted _3

Stock Options and Restricted Shares - Narrative (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Mar. 31, 2021	Mar. 31, 2020	Apr. 21, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 5,399	$ 5,501
Remaining Share-Based Compensation on Unvested Restricted Stock Awards		$ 63,900
Weighted Average Remaining Period of Sharebased Compensation Expense		1 year 11 months 4 days
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional Shares Authorized by Shareholders				1,350,000
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuances (in shares)		679,075
CapitalMark Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuances (in shares)		0
Shares acquired in period (in shares)	858,000

Stock Options and Restricted _4

Stock Options and Restricted Shares - Common Stock Options (Details) - Common stock options - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2021		Dec. 31, 2020
Number
Outstanding, beginning balance (in shares)		101,769
Granted (in shares)		0
Exercised (in shares)		(13,246)
Forfeited (in shares)		0
Outstanding, ending balance (in shares)		88,523		101,769
Additional disclosures
Options exercisable (in shares)		88,523
Weighted-average exercise price of options outstanding (in dollars per share)		$ 23.53		$ 23.46
Weighted-average contractual remaining term for options outstanding		1 year 7 months 17 days		1 year 10 months 9 days
Aggregate intrinsic value		$ 5,766	[1]	$ 4,169	[2]
Weighted- average exercise price of options exercisable (in dollars per share)		$ 23.53
Weighted-average contractual remaining term for options exercisable		1 year 7 months 17 days
Aggregate intrinsic value of options exercisable	[1]	$ 5,766
Quoted closing price of common stock (in dollars per share)		$ 88.66		$ 64.40
Number of awards used in aggregate intrinsic value (in shares)		88,523		101,769
[1]	The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $88.66 per common share at March 31, 2021 for the 88,523 options that were in-the-money at March 31, 2021.
[2]	The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted closing price of Pinnacle Financial common stock of $64.40 per common share at December 31, 2020 for the 101,769 options that were in-the-money at December 31, 2020.

Stock Options and Restricted _5

Stock Options and Restricted Shares - Unvested Restricted Awards (Details) - Restricted stock	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number
Unvested, beginning of period (in shares)	594,669
Shares awarded (in shares)	183,839
Restrictions lapsed and shares released to associates/directors (in shares)	(129,599)
Shares forfeited (in shares)	(11,420)
Unvested, end of period (in shares)	637,489
Grant Date Weighted-Average Cost
Unvested, beginning of period (in dollars per share) | $ / shares	$ 56.97
Unvested, end of period (in dollars per share) | $ / shares	$ 61

Stock Options and Restricted _6

Stock Options and Restricted Shares - Restricted Shares Awarded (Details)	3 Months Ended
	Mar. 31, 2021shares
Time Based Awards | Associates
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	172,009	[1],[2]
Restrictions lapsed and shares released to participants	18	[1],[2]
Shares Forfeited by participants	5,102	[1],[2],[3]
Shares Unvested	166,871	[1],[2]
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Withheld For Taxes By Associates Leadership Team and Directors	18	[1],[2]
Time Based Awards | Associates | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period in years	3 years
Time Based Awards | Associates | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period in years	5 years
Outside Director Awards | Outside directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period in years	1 year	[1],[4]
Shares awarded	11,830	[1],[4]
Restrictions lapsed and shares released to participants	0	[1],[4]
Shares Forfeited by participants	0	[1],[3],[4]
Shares Unvested	11,830	[1],[4]
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Withheld For Taxes By Associates Leadership Team and Directors	0	[1],[4]
[1]	Groups include employees (referred to as associates above) and outside directors. When the restricted shares are awarded, a participant receives voting rights and forfeitable dividend rights with respect to the shares, but is not able to transfer the shares until the restrictions have lapsed. Once the restrictions lapse, the participant is taxed on the value of the award and may elect to sell some shares (or have Pinnacle Financial withhold some shares) to pay the applicable income taxes associated with the award. Alternatively, the recipient can pay the withholding taxes in cash. For time-based vesting restricted share awards, dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination. For awards to Pinnacle Financial's directors, dividends are placed into escrow until the forfeiture restrictions on such shares lapse.
[2]	The forfeiture restrictions on these restricted share awards lapse in equal annual installments on the anniversary date of the grant.
[3]	These shares represent forfeitures resulting from recipients whose employment or board membership was terminated during the year-to-date period ended March 31, 2021. Any dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination or will not be distributed from escrow, as applicable.
[4]	Restricted share awards are issued to the outside members of the board of directors in accordance with their board compensation plan. Restrictions lapse on March 1, 2022 based on each individual board member meeting attendance goals for the various board and board committee meetings to which each member was scheduled to attend.

Stock Options and Restricted _7

Stock Options and Restricted Shares - Performance Unit Awards Outstanding (Details) - shares		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Named Executive Officers (NEOs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Forfeited by participants		199,633
2021 Performance Unit Award | Tranche 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		0 years
Subsequent holding period per tranche (in years)		0 years
2021 Performance Unit Award | Named Executive Officers (NEOs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[1],[2]	89,234
2021 Performance Unit Award | Named Executive Officers (NEOs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[1],[2]	214,155
2021 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[1]	45,240
2020 Performance Unit Award | Tranche 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		3 years
2020 Performance Unit Award | Tranche 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		2 years
2020 Performance Unit Award | Tranche 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		1 year
2020 Performance Unit Award | Named Executive Officers (NEOs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	136,137
2020 Performance Unit Award | Named Executive Officers (NEOs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	204,220
2020 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded		59,648
2019 Performance Unit Award | Tranche 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		3 years
2019 Performance Unit Award | Tranche 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		2 years
2019 Performance Unit Award | Tranche 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		1 year
2019 Performance Unit Award | Named Executive Officers (NEOs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	166,211
2019 Performance Unit Award | Named Executive Officers (NEOs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	249,343
2019 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded		52,244
2018 Performance Unit Award | Tranche 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		3 years
2018 Performance Unit Award | Tranche 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		2 years
2018 Performance Unit Award | Tranche 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		1 year
2018 Performance Unit Award | Named Executive Officers (NEOs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	96,878
2018 Performance Unit Award | Named Executive Officers (NEOs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	145,339
2018 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded		25,990
2017 Performance Unit Award | Tranche 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		3 years
2017 Performance Unit Award | Tranche 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		2 years
2017 Performance Unit Award | Tranche 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period per tranche (in years)		2 years
Subsequent holding period per tranche (in years)		1 year
2017 Performance Unit Award | Named Executive Officers (NEOs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	72,537
2017 Performance Unit Award | Named Executive Officers (NEOs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[2]	109,339
2017 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded		24,916
2016 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded		133,041
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation		46,332
2015 Performance Unit Award | Leadership Team other than NEOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded			129,723
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation			43,996
Time Based Awards | Named Executive Officers (NEOs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period in years		3 years
Shares awarded		56,864
Restrictions lapsed and shares released to participants		4
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Withheld For Taxes By Associates Leadership Team and Directors		3
Shares Forfeited by participants	[3]	0
Shares Unvested		56,857
Time Based Awards | Associates
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded	[4],[5]	172,009
Restrictions lapsed and shares released to participants	[4],[5]	18
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Withheld For Taxes By Associates Leadership Team and Directors	[4],[5]	18
Shares Forfeited by participants	[4],[5],[6]	5,102
Shares Unvested	[4],[5]	166,871
Time Based Awards | Associates | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period in years		3 years
Time Based Awards | Associates | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period in years		5 years
[1]	Performance stock unit awards granted in 2021, if earned, will be settled in shares of Pinnacle Financial Common Stock in the period noted in the table, if the performance criterion included in the applicable performance unit award agreement are met.
[2]	The named executive officers are awarded a range of awards that may be earned based on attainment of goals between a target level of performance and a maximum level of performance.
[3]	These shares represent forfeitures resulting from recipients whose employment was terminated during the year-to-date period ended March 31, 2021. Dividend equivalents are held in escrow for award recipients for dividends paid prior to the forfeiture restrictions lapsing. Such dividend equivalents are not released from escrow if an award is forfeited.
[4]	Groups include employees (referred to as associates above) and outside directors. When the restricted shares are awarded, a participant receives voting rights and forfeitable dividend rights with respect to the shares, but is not able to transfer the shares until the restrictions have lapsed. Once the restrictions lapse, the participant is taxed on the value of the award and may elect to sell some shares (or have Pinnacle Financial withhold some shares) to pay the applicable income taxes associated with the award. Alternatively, the recipient can pay the withholding taxes in cash. For time-based vesting restricted share awards, dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination. For awards to Pinnacle Financial's directors, dividends are placed into escrow until the forfeiture restrictions on such shares lapse.
[5]	The forfeiture restrictions on these restricted share awards lapse in equal annual installments on the anniversary date of the grant.
[6]	These shares represent forfeitures resulting from recipients whose employment or board membership was terminated during the year-to-date period ended March 31, 2021. Any dividends paid on shares for which the forfeiture restrictions do not lapse will be recouped by Pinnacle Financial at the time of termination or will not be distributed from escrow, as applicable.

Derivative Instruments - Non-he

Derivative Instruments - Non-hedge Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative [Line Items]
Notional Amount		$ 1,300,000
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	$ 3,236,566		$ 3,131,832
Estimated Fair Value	(867)		(1,317)
Derivative, Gain (Loss) on Derivative, Net	450	$ (343)
Not Designated as Hedging Instrument | Assets
Derivative [Line Items]
Notional Amount	1,618,283		1,565,916
Estimated Fair Value	67,351		101,602
Not Designated as Hedging Instrument | Liabilities
Derivative [Line Items]
Notional Amount	1,618,283		1,565,916
Estimated Fair Value	$ (68,218)		$ (102,919)

Derivative Instruments - Hedge

Derivative Instruments - Hedge Derivatives (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)		$ 16,500,000
Notional Amount		1,300,000,000
Loss on cash flow hedges reclassified from other comprehensive income into net income, net of tax	$ 504,000	1,825,000
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	4,700,000
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	3,236,566,000		$ 3,131,832,000
Hedging derivative | Cash flow hedge
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)	(15,274,000)	63,769,000
Hedging derivative | Fair value hedge
Derivative [Line Items]
Forecasted Notional Amount	708,931,000		708,931,000
Fair Value Hedge Assets	(32,548,000)		(67,314,000)
Hedging derivative | Fair value hedge | Securities
Derivative [Line Items]
Gain (Loss) on Fair Value Hedges Recognized in Earnings	34,766,000	(38,873,000)
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge	(34,766,000)	38,873,000
Derivative Instruments and Hedges, Assets	804,207,000		841,543,000
Fair Value Hedging Adjustment	32,548,000		67,314,000
Hedging derivative | Fair value hedge | Securities | LIBOR
Derivative [Line Items]
Forecasted Notional Amount	477,500,000
Hedging derivative | Fair value hedge | Securities | Federal Funds Rate
Derivative [Line Items]
Forecasted Notional Amount	231,400,000
Hedging derivative | Fair value hedge | Loans
Derivative [Line Items]
Amortization expense, reduction to interest income on loans	924,000	1,100,000
Pay fixed and receive variable swaps | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	1,618,283,000		1,565,916,000
Pay variable and receive fixed swaps | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	$ 1,618,283,000		1,565,916,000
Asset derivatives | Hedging derivative | Cash flow hedge
Derivative [Line Items]
Description of Location of Interest Rate Cash Flow Hedge Derivative on Balance Sheet	Other assets
Weighted Average Remaining Maturity	3 years 8 months 8 days
Pay Rate (as percent)	0.00%
Receive Rate	2.25% minus one-month LIBOR
Forecasted Notional Amount	$ 1,500,000,000		1,500,000,000
Cash Flow Hedges Derivative Instruments at Fair Value, Net	100,564,000		124,585,000
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$ (15,274,000)	65,349,000
Asset derivatives | Hedging derivative | Fair value hedge | Securities
Derivative [Line Items]
Weighted Average Remaining Maturity	8 years 4 months 2 days
Pay Rate (as percent)	0.58%
Forecasted Notional Amount	$ 231,421,000		231,421,000
Description of Location of Interest Rate Fair Value Hedge Derivative on Balance Sheet	Other assets
Derivative, Type of Interest Rate Paid on Swap	Federal Funds
Fair Value Hedge Assets	$ 17,181,000		4,696,000
Liability derivatives | Hedging derivative | Cash flow hedge
Derivative [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$ 0	$ (1,580,000)
Liability derivatives | Hedging derivative | Fair value hedge | Securities
Derivative [Line Items]
Weighted Average Remaining Maturity	5 years 9 months 14 days
Pay Rate (as percent)	3.08%
Forecasted Notional Amount	$ 477,510,000		477,510,000
Description of Location of Interest Rate Fair Value Hedge Derivative on Balance Sheet	Other liabilities
Derivative, Type of Interest Rate Paid on Swap	3 month LIBOR
Fair Value Hedge Assets	$ (49,729,000)		$ (72,010,000)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]
Valuation allowance		$ 2,700	$ 3,500
Recurring
Assets, Fair Value Disclosure [Abstract]
U.S. Treasury securities		83,993	82,209
U.S. government agency securities		157,456	76,403
Mortgage-backed securities		1,609,778	1,689,191
State and municipal securities		1,512,360	1,443,363
Agency-backed securities		190,695	177,936
Corporate notes and other		122,737	117,579
Total investment securities available-for-sale		3,677,019	3,586,681
Other Investments		87,347	73,395
Other assets		190,753	242,470
Total assets at fair value		3,955,119	3,902,546
Liabilities at fair value: [Abstract]
Other liabilities		116,646	177,025
Total liabilities at fair value		116,646	177,025
Recurring | Quoted market prices in an active market (Level 1)
Assets, Fair Value Disclosure [Abstract]
U.S. Treasury securities		0	0
U.S. government agency securities		0	0
Mortgage-backed securities		0	0
State and municipal securities		0	0
Agency-backed securities		0	0
Corporate notes and other		0	0
Total investment securities available-for-sale		0	0
Other Investments		0	0
Other assets		0	0
Total assets at fair value		0	0
Liabilities at fair value: [Abstract]
Other liabilities		0	0
Total liabilities at fair value		0	0
Recurring | Models with significant observable market parameters (Level 2)
Assets, Fair Value Disclosure [Abstract]
U.S. Treasury securities		83,993	82,209
U.S. government agency securities		157,456	76,403
Mortgage-backed securities		1,609,778	1,689,191
State and municipal securities		1,498,847	1,427,866
Agency-backed securities		190,695	177,936
Corporate notes and other		122,737	117,579
Total investment securities available-for-sale		3,663,506	3,571,184
Other Investments		25,218	25,636
Other assets		190,753	242,470
Total assets at fair value		3,879,477	3,839,290
Liabilities at fair value: [Abstract]
Other liabilities		116,646	177,025
Total liabilities at fair value		116,646	177,025
Recurring | Models with significant unobservable market parameters (Level 3)
Assets, Fair Value Disclosure [Abstract]
U.S. Treasury securities		0	0
U.S. government agency securities		0	0
Mortgage-backed securities		0	0
State and municipal securities		13,513	15,497
Agency-backed securities		0	0
Corporate notes and other		0	0
Total investment securities available-for-sale		13,513	15,497
Other Investments		62,129	47,759
Other assets		0	0
Total assets at fair value		75,642	63,256
Liabilities at fair value: [Abstract]
Other liabilities		0	0
Total liabilities at fair value		0	0
Nonrecurring
Assets, Fair Value Disclosure [Abstract]
Total assets at fair value		51,541	56,155
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]
Other real estate owned		10,651	12,360
Impaired Financing Receivable, with Related Allowance, Recorded Investment	[1]	40,890	43,795
Nonrecurring | Quoted market prices in an active market (Level 1)
Assets, Fair Value Disclosure [Abstract]
Total assets at fair value		0	0
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]
Other real estate owned		0	0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	[1]	0	0
Nonrecurring | Models with significant observable market parameters (Level 2)
Assets, Fair Value Disclosure [Abstract]
Total assets at fair value		0	0
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]
Other real estate owned		0	0
Impaired Financing Receivable, with Related Allowance, Recorded Investment	[1]	0	0
Nonrecurring | Models with significant unobservable market parameters (Level 3)
Assets, Fair Value Disclosure [Abstract]
Total assets at fair value		51,541	56,155
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Abstract]
Other real estate owned		10,651	12,360
Impaired Financing Receivable, with Related Allowance, Recorded Investment	[1]	$ 40,890	$ 43,795
[1]	The carrying values of collateral dependent loans at March 31, 2021 and December 31, 2020 are net of valuation allowances of $2.7 million and $3.5 million, respectively

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Rollforward of Balance Sheet Amounts Within Level 3 Valuation Hierarchy (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Assets measured on recurring basis, unobservable input reconciliation, calculation [Roll Forward]
Transfers out of Level 3	$ 0
Recurring | Other investments
Assets measured on recurring basis, unobservable input reconciliation, calculation [Roll Forward]
Fair value, beginning of period	47,759	$ 38,156
Total realized gains (losses) included in income	3,440	(174)
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end	0	0
Purchases	12,432	2,361
Issuances	0	0
Settlements	(1,502)	(587)
Transfers out of Level 3	0	0
Fair value, end of period	62,129	39,756
Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at period-end	3,440	(174)
Recurring | Available-for-sale Securities
Assets measured on recurring basis, unobservable input reconciliation, calculation [Roll Forward]
Fair value, beginning of period	15,497	15,903
Total realized gains (losses) included in income	42	28
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end	(1,875)	(21)
Purchases	0	0
Issuances	0	0
Settlements	(151)	(1,143)
Transfers out of Level 3	0	0
Fair value, end of period	13,513	14,767
Total realized gains (losses) included in income related to financial assets and liabilities still on the consolidated balance sheet at period-end	$ 42	$ 28

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Financial assets:
Securities Purchased under Agreements to Resell		$ 450,000	$ 0
Securities held-to-maturity		1,033,749	1,066,531
Quoted market prices in an active market (Level 1)
Financial assets:
Securities Purchased under Agreements to Resell		0
Securities held-to-maturity		0	0
Loans, net		0	0
Consumer loans held-for-sale		0	0
Commercial loans held-for-sale		0	0
Financial liabilities:
Deposits and securities sold under agreements to repurchase		0	0
Federal Home Loan Bank advances		0	0
Subordinated debt and other borrowings		0	0
Off-balance sheet instruments:
Commitments to extend credit	[1]	0	0
Models with significant observable market parameters (Level 2)
Financial assets:
Securities Purchased under Agreements to Resell		0
Securities held-to-maturity		1,033,749	1,066,531
Loans, net		0	0
Consumer loans held-for-sale		86,403	89,625
Commercial loans held-for-sale		12,634	31,841
Financial liabilities:
Deposits and securities sold under agreements to repurchase		0	0
Federal Home Loan Bank advances		0	0
Subordinated debt and other borrowings		0	0
Off-balance sheet instruments:
Commitments to extend credit	[1]	0	0
Models with significant unobservable market parameters (Level 3)
Financial assets:
Securities Purchased under Agreements to Resell		433,935
Securities held-to-maturity		0	0
Loans, net		22,808,139	22,407,546
Consumer loans held-for-sale		0	0
Commercial loans held-for-sale		0	0
Financial liabilities:
Deposits and securities sold under agreements to repurchase		27,539,943	26,929,142
Federal Home Loan Bank advances		928,035	1,189,035
Subordinated debt and other borrowings		661,693	677,521
Off-balance sheet instruments:
Commitments to extend credit	[1]	25,019	24,887
Carrying/ Notional Amount
Financial assets:
Securities Purchased under Agreements to Resell		450,000
Securities held-to-maturity		1,014,345	1,028,359
Loans, net		22,805,820	22,139,451
Consumer loans held-for-sale		85,769	87,821
Commercial loans held-for-sale		12,541	31,200
Financial liabilities:
Deposits and securities sold under agreements to repurchase		28,465,057	27,833,739
Federal Home Loan Bank advances		888,115	1,087,927
Subordinated debt and other borrowings		671,002	670,575
Off-balance sheet instruments:
Commitments to extend credit	[1]	10,422,083	9,692,607
Estimated Fair Value
Financial assets:
Securities Purchased under Agreements to Resell	[2]	433,935
Securities held-to-maturity	[2]	1,033,749	1,066,531
Loans, net	[2]	22,808,139	22,407,546
Consumer loans held-for-sale	[2]	86,403	89,625
Commercial loans held-for-sale	[2]	12,634	31,841
Financial liabilities:
Deposits and securities sold under agreements to repurchase	[2]	27,539,943	26,929,142
Federal Home Loan Bank advances	[2]	928,035	1,189,035
Subordinated debt and other borrowings	[2]	661,693	677,521
Off-balance sheet instruments:
Commitments to extend credit	[1],[2]	$ 25,019	$ 24,887
[1]	At the end of each quarter, Pinnacle Financial evaluates the inherent risks of the outstanding off-balance sheet commitments, including both commitments for unfunded loans and standby letters of credit. In making this evaluation, Pinnacle Financial utilizes credit loss expectations on funded loans from our allowance for credit losses methodology and evaluates the probability that the outstanding commitment will eventually become a funded loan. As a result, at March 31, 2021 and December 31, 2020, Pinnacle Financial included in other liabilities $23.2 million, representing expected credit losses on off-balance sheet commitments, which are reflected in the estimated fair values of the related commitments. Also included in the fair values at March 31, 2021 and December 31, 2020 are unamortized fees related to these commitments of $1.8 million and $1.7 million, respectively.
[2]	Estimated fair values are consistent with an exit-price concept. The assumptions used to estimate the fair values are intended to approximate those that a market-participant would realize in a hypothetical orderly transaction.

Regulatory Matters (Details)

Regulatory Matters (Details) $ / shares in Units, shares in Thousands		3 Months Ended
		Mar. 31, 2021USD ($)$ / shares	Jun. 30, 2020shares	Dec. 31, 2020USD ($)	Sep. 30, 2020$ / shares
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Preceding period of retained earnings used in calculation of dividend payable		2 years
Retained earnings		$ 1,515,451,000		$ 1,407,723,000
Quarterly common stock dividend (in dollar per share) | $ / shares		$ 0.18			$ 0.16
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ / shares		$ 16.88
Preferred Stock, Dividend Per Depositary Share		$ 0.422
Depositary Shares | shares			9,000
Issuance of preferred stock, net of issuance costs		217,100,000
Pinnacle Financial
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends paid to Pinnacle Financial by Pinnacle Bank		0
Actual
Total capital to risk weighted assets		3,784,041,000		3,678,405,000
Tier I capital to risk weighted assets		2,911,788,000		2,803,541,000
Common Equity Tier I capital to risk weighted assets		2,694,539,000		2,586,292,000
Tier I capital to average assets	[1]	$ 2,911,788,000		$ 2,803,541,000
Actual
Total capital to risk weighted assets (as percent)		0.145		0.143
Tier I capital to risk weighted assets (as percent)		0.112		0.109
Common Equity Tier I capital to risk weighted assets (as percent)		0.103		0.100
Tier I capital to average assets (as percent)	[1]	0.089		0.086
Minimum Capital Requirement
Total capital to risk weighted assets		$ 2,088,413,000		$ 2,063,352,000
Tier I capital to risk weighted assets		1,566,309,000		1,547,514,000
Common Equity Tier I capital		1,174,732,000		1,160,635,000
Tier I capital to average assets	[1]	$ 1,306,257,000		$ 1,298,756,000
Minimum Capital Requirement
Total capital to risk weighted assets (as percent)		0.080		0.080
Tier I capital to risk weighted assets (as percent)		0.060		0.060
Common Equity Tier I capital to risk weighted assets (as percent)		0.045		0.045
Tier I capital to average assets (as percent)	[1]	0.040		0.040
Minimum To Be Well-Capitalized
Total capital to risk weighted assets		$ 2,610,516,000		$ 2,579,190,000
Tier I capital to risk weighted assets		$ 2,088,413,000		$ 2,063,352,000
Minimum To Be Well-Capitalized
Total capital to risk weighted assets (as percent)		0.100		0.100
Tier I capital to risk weighted assets (as percent)		0.080		0.080
Pinnacle Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings		$ 574,300,000
Actual
Total capital to risk weighted assets		3,382,392,000		$ 3,259,538,000
Tier I capital to risk weighted assets		3,059,140,000		2,933,674,000
Common Equity Tier I capital to risk weighted assets		3,059,017,000		2,933,551,000
Tier I capital to average assets	[1]	$ 3,059,140,000		$ 2,933,674,000
Actual
Total capital to risk weighted assets (as percent)		0.130		0.127
Tier I capital to risk weighted assets (as percent)		0.118		0.114
Common Equity Tier I capital to risk weighted assets (as percent)		0.118		0.114
Tier I capital to average assets (as percent)	[1]	0.094		0.091
Minimum Capital Requirement
Total capital to risk weighted assets		$ 2,081,224,000		$ 2,055,892,000
Tier I capital to risk weighted assets		1,560,918,000		1,541,919,000
Common Equity Tier I capital		1,170,688,000		1,156,439,000
Tier I capital to average assets	[1]	$ 1,302,421,000		$ 1,294,033,000
Minimum Capital Requirement
Total capital to risk weighted assets (as percent)		0.080		0.080
Tier I capital to risk weighted assets (as percent)		0.060		0.060
Common Equity Tier I capital to risk weighted assets (as percent)		0.045		0.045
Tier I capital to average assets (as percent)	[1]	0.040		0.040
Minimum To Be Well-Capitalized
Total capital to risk weighted assets		$ 2,601,529,000		$ 2,569,865,000
Tier I capital to risk weighted assets		2,081,224,000		2,055,892,000
Common Equity Tier I capital to risk weighted assets		1,690,994,000		1,670,412,000
Tier I capital to average assets	[1]	$ 1,628,026,000		$ 1,617,541,000
Minimum To Be Well-Capitalized
Total capital to risk weighted assets (as percent)		0.100		0.100
Tier I capital to risk weighted assets (as percent)		0.080		0.080
Common Equity Tier I capital to risk weighted assets (as percent)		0.065		0.065
Tier I capital to average assets (as percent)	[1]	0.050		0.050
[1]	(*) Average assets for the above calculations were based on the most recent quarter.

Other borrowings (Details)

Other borrowings (Details) $ in Thousands		Jan. 01, 2020USD ($)	Mar. 31, 2021USD ($)subsidiary	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Number of wholly owned subsidiaries | subsidiary			12
Term			30 years
Total Debt Outstanding			$ 671,002	$ 670,575
Debt issuance costs and fair value adjustments			(11,993)
Proceeds from Issuance of Debt		$ 80,000
Loans and Leases Receivable, Net of Deferred Income			23,086,701	22,424,501
Paycheck Protection Program [Member]
Debt Instrument [Line Items]
Loans and Leases Receivable, Net of Deferred Income			2,200,000	$ 1,800,000
Paycheck Protection Program Liquidity Facility
Debt Instrument [Line Items]
Line of Credit, Current			$ 0
Pinnacle Statutory Trust I
Debt Instrument [Line Items]
Date Established			Dec. 29, 2003
Maturity			Dec. 30, 2033
Total Debt Outstanding			$ 10,310
Interest Rate (as percent)			2.98%
Coupon Structure			30-day LIBOR + 2.80%
Pinnacle Statutory Trust II
Debt Instrument [Line Items]
Date Established			Sep. 15, 2005
Maturity			Sep. 30, 2035
Total Debt Outstanding			$ 20,619
Interest Rate (as percent)			1.60%
Coupon Structure			30-day LIBOR + 1.40%
Pinnacle Statutory Trust III
Debt Instrument [Line Items]
Date Established			Sep. 7, 2006
Maturity			Sep. 30, 2036
Total Debt Outstanding			$ 20,619
Interest Rate (as percent)			1.85%
Coupon Structure			30-day LIBOR + 1.65%
Pinnacle Statutory Trust IV
Debt Instrument [Line Items]
Date Established			Oct. 31, 2007
Maturity			Sep. 30, 2037
Total Debt Outstanding			$ 30,928
Interest Rate (as percent)			3.03%
Coupon Structure			30-day LIBOR + 2.85%
BNC Capital Trust I
Debt Instrument [Line Items]
Date Established			Apr. 3, 2003
Maturity			Apr. 15, 2033
Total Debt Outstanding			$ 5,155
Interest Rate (as percent)			3.49%
Coupon Structure			30-day LIBOR + 3.25%
BNC Capital Trust II
Debt Instrument [Line Items]
Date Established			Mar. 11, 2004
Maturity			Apr. 7, 2034
Total Debt Outstanding			$ 6,186
Interest Rate (as percent)			3.09%
Coupon Structure			30-day LIBOR + 2.85%
BNC Capital Trust III
Debt Instrument [Line Items]
Date Established			Sep. 23, 2004
Maturity			Sep. 23, 2034
Total Debt Outstanding			$ 5,155
Interest Rate (as percent)			2.64%
Coupon Structure			30-day LIBOR + 2.40%
BNC Capital Trust IV
Debt Instrument [Line Items]
Date Established			Sep. 27, 2006
Maturity			Dec. 31, 2036
Total Debt Outstanding			$ 7,217
Interest Rate (as percent)			1.90%
Coupon Structure			30-day LIBOR + 1.70%
Valley Financial Trust I
Debt Instrument [Line Items]
Date Established			Jun. 26, 2003
Maturity			Jun. 26, 2033
Total Debt Outstanding			$ 4,124
Interest Rate (as percent)			3.30%
Coupon Structure			30-day LIBOR + 3.10%
Valley Financial Trust II
Debt Instrument [Line Items]
Date Established			Sep. 26, 2005
Maturity			Dec. 15, 2035
Total Debt Outstanding			$ 7,217
Interest Rate (as percent)			1.67%
Coupon Structure			30-day LIBOR + 1.49%
Valley Financial Trust III
Debt Instrument [Line Items]
Date Established			Dec. 15, 2006
Maturity			Jan. 30, 2037
Total Debt Outstanding			$ 5,155
Interest Rate (as percent)			1.94%
Coupon Structure			30-day LIBOR + 1.73%
Southcoast Capital Trust III
Debt Instrument [Line Items]
Date Established			Aug. 5, 2005
Maturity			Sep. 30, 2035
Total Debt Outstanding			$ 10,310
Interest Rate (as percent)			1.70%
Coupon Structure			30-day LIBOR + 1.50%
Pinnacle Bank Subordinated Notes (2015)
Debt Instrument [Line Items]
Date Established			Jul. 30, 2015
Maturity			Jul. 30, 2025
Total Debt Outstanding			$ 60,000
Interest Rate (as percent)			3.33%
Coupon Structure			three month LIBOR + 3.128%
Pinnacle Bank Subordinated Notes
Debt Instrument [Line Items]
Date Established			Mar. 10, 2016
Maturity			Jul. 30, 2025
Total Debt Outstanding			$ 70,000
Interest Rate (as percent)			3.33%
Coupon Structure			three month LIBOR + 3.128%
Pinnacle Financial Subordinated Notes
Debt Instrument [Line Items]
Date Established			Nov. 16, 2016
Maturity			Nov. 16, 2026
Total Debt Outstanding	[1]		$ 120,000
Interest Rate (as percent)	[1]		5.25%
Coupon Structure			three month LIBOR + 3.884%
Pinnacle Financial Notes 2019
Debt Instrument [Line Items]
Date Established			Sep. 11, 2019
Maturity			Sep. 15, 2029
Total Debt Outstanding	[2]		$ 300,000
Interest Rate (as percent)	[2]		4.13%
Coupon Structure			three month LIBOR + 2.775%
BNC Subordinated Notes
Debt Instrument [Line Items]
Repayments of Subordinated Debt		60,000
Avenue Subordinated Notes
Debt Instrument [Line Items]
Repayments of Subordinated Debt		$ 20,000
[1]	Migrates to three month LIBOR + 3.884% beginning November 16, 2021 through the end of the term.
[2]	Migrates to three month LIBOR + 2.775% beginning September 15, 2024 through the end of the term.