XML 27 R40.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value of Financial Instruments (Details) (USD $)
3 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
Commitments to Extend Credit [Member]
Dec. 31, 2013
Commitments to Extend Credit [Member]
Mar. 31, 2014
Carrying Amount / Notional Amount [Member]
Dec. 31, 2013
Carrying Amount / Notional Amount [Member]
Mar. 31, 2014
Estimated Fair Value [Member]
Dec. 31, 2013
Estimated Fair Value [Member]
Mar. 31, 2014
Other Liabilities [Member]
Mar. 31, 2013
Other Liabilities [Member]
Mar. 31, 2014
Other Assets [Member]
Mar. 31, 2013
Other Assets [Member]
Mar. 31, 2014
Quoted Market Prices in an Active Market (Level 1) [Member]
Dec. 31, 2013
Quoted Market Prices in an Active Market (Level 1) [Member]
Mar. 31, 2014
Models with Significant Observable Market Parameters (Level 2) [Member]
Dec. 31, 2013
Models with Significant Observable Market Parameters (Level 2) [Member]
Mar. 31, 2014
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Dec. 31, 2013
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Mar. 31, 2014
Recurring [Member]
Dec. 31, 2013
Recurring [Member]
Mar. 31, 2014
Recurring [Member]
Quoted Market Prices in an Active Market (Level 1) [Member]
Dec. 31, 2013
Recurring [Member]
Quoted Market Prices in an Active Market (Level 1) [Member]
Mar. 31, 2014
Recurring [Member]
Models with Significant Observable Market Parameters (Level 2) [Member]
Dec. 31, 2013
Recurring [Member]
Models with Significant Observable Market Parameters (Level 2) [Member]
Mar. 31, 2014
Recurring [Member]
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Dec. 31, 2013
Recurring [Member]
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Mar. 31, 2014
Nonrecurring [Member]
Dec. 31, 2013
Nonrecurring [Member]
Mar. 31, 2014
Nonrecurring [Member]
Quoted Market Prices in an Active Market (Level 1) [Member]
Dec. 31, 2013
Nonrecurring [Member]
Quoted Market Prices in an Active Market (Level 1) [Member]
Mar. 31, 2014
Nonrecurring [Member]
Models with Significant Observable Market Parameters (Level 2) [Member]
Dec. 31, 2013
Nonrecurring [Member]
Models with Significant Observable Market Parameters (Level 2) [Member]
Mar. 31, 2014
Nonrecurring [Member]
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Dec. 31, 2013
Nonrecurring [Member]
Models with Significant Unobservable Market Parameters (Level 3) [Member]
Investment securities available for sale [Abstract]                                                                    
US Treasury Securities Fair Value Disclosure                                     $ 0   $ 0   $ 0   $ 0                  
U.S. government agency securities                                     107,368,000 103,873,000 0 0 107,368,000 103,873,000 0 0                
Mortgage-backed securities                                     452,195,000 412,936,000 0 0 452,195,000 412,936,000 0 0                
State and municipal securities                                     148,773,000 148,411,000 0 0 148,773,000 148,411,000 0 0                
Agency- backed securities                                     15,822,000 17,007,000 0 0 15,822,000 17,007,000 0 0                
Corporate notes and other                                     11,243,000 11,229,000 0 0 11,243,000 11,229,000 0 0                
Total investment securities available-for-sale                                     735,401,000 693,456,000 0 0 735,401,000 693,456,000 0 0                
Other equity investments                                     7,137,000 6,701,000 0 0 0 0 7,137,000 6,701,000                
Other assets                                     17,860,000 19,900,000 0 0 17,860,000 19,900,000 0 0                
Total assets at fair value                                     760,398,000 720,057,000 0 0 753,261,000 713,356,000 7,137,000 6,701,000                
Liabilities at fair value [Abstract]                                                                    
Other liabilities                                     13,476,000 13,670,000 0 0 13,476,000 13,670,000 0 0                
Total liabilities at fair value                                     13,476,000 13,670,000 0 0 13,476,000 13,670,000 0 0                
Assets and liabilities measured at fair value on a nonrecurring basis [Abstract]                                                                    
Other real estate owned                                                     15,038,000 15,226,000 0 0 0 0 15,038,000 15,226,000
Nonaccrual loans, net                                                     14,308,000 [1] 16,996,000 [1] 0 [1] 0 [1] 0 [1] 0 [1] 14,308,000 [1] 16,996,000 [1]
Total                                                     29,346,000 32,222,000 0 0 0 0 29,346,000 32,222,000
Valuation allowance of impaired loans 1,300,000 1,200,000                                                                
Gain (losses) on Other real estate owned                                                     (310,000) (2,258,000)            
Gain (losses) on Impaired loans, net                                                     (153,000) [1] (2,921,000) [1]            
Total gains (losses)                                                     (463,000) (5,179,000)            
Assets measured on recurring basis, unobservable input reconciliation, calculation [Roll Forward]                                                                    
Fair value, January 1                 0 0 6,701,000 4,681,000                                            
Total net realized (losses) gains included in income                 0 0 130,000 100,000                                            
Change in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at March 31                 0 0 0 0                                            
Purchases                 0 0 306,000 304,000                                            
Issuances                 0 0 0 0                                            
Settlements                 0 0 0 0                                            
Transfers out of Level 3                 0 0 0 0                                            
Fair value, March 31                 0 0 7,137,000 5,085,000                                            
Transfers out of Level 3                 0 0 130,000 100,000                                            
Financial assets [Abstract]                                                                    
Securities held-to-maturity 38,194,567 38,817,467     38,733,000 39,796,000 38,195,000 [2] 38,817,000 [2]         0 0 38,195,000 38,817,000 0 0                                
Loans, net         4,114,163,000 4,076,524,000 4,062,235,000 [2] 4,021,675,000 [2]         0 0 0 0 4,062,235,000 4,021,675,000                                
Mortgage loans held-for-sale         13,971,000 12,850,000 14,437,000 [2] 12,999,000 [2]         0 0 14,437,000 12,999,000 0 0                                
Financial liabilities [Abstract]                                                                    
Deposits and securities sold under agreements to repurchase         4,568,669,000 4,603,938,000 4,210,590,000 [2] 4,378,805,000 [2]         0 0 0 0 4,210,590,000 4,378,805,000                                
Federal Home Loan Bank advances         150,604,000 90,637,000 150,556,000 [2] 90,652,000 [2]         0 0 0 0 150,556,000 90,652,000                                
Subordinated debt and other borrowings         98,033,000 98,658,000 72,483,000 [2] 73,083,000 [2]         0 0 0 0 72,483,000 73,083,000                                
Off-balance sheet instruments [Abstract]                                                                    
Commitments to extend credit         1,221,891,000 [3] 1,206,528,000 [3] 1,051,000 [2],[3] 1,040,000 [2],[3]         0 [3] 0 [3] 0 [3] 0 [3] 1,051,000 [3] 1,040,000 [3]                                
Standby letters of credit         68,419,000 [4] 69,231,000 [4] 320,000 [2],[4] 331,000 [2],[4]         0 [4] 0 [4] 0 [4] 0 [4] 320,000 [4] 331,000 [4]                                
Off-balance sheet commitments     $ 1,300,000 $ 1,300,000                                                            
[1] Amount is net of a valuation allowance of $1.3 million at March 31, 2014 and $1.2 million at December 31, 2013 as required by ASC 310-10, “Receivables.”
[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.
[3] At the end of each quarter, Pinnacle Financial evaluates the inherent risks of the outstanding off-balance sheet commitments. In making this evaluation, Pinnacle Financial evaluates the credit worthiness of the borrower, the collateral supporting the commitments and any other factors similar to those used to evaluate the inherent risks of our loan portfolio. Additionally, Pinnacle Financial evaluates the probability that the outstanding commitment will eventually become a funded loan. As a result, at March 31, 2014 and December 31, 2013, Pinnacle Financial included in other liabilities $1.3 million and $1.2 million, respectively, representing the inherent risks associated with these off-balance sheet commitments.
[4] At March 31, 2014 and December 31, 2013, the fair value of Pinnacle Financial’s standby letters of credit was $320,000 and $331,000, respectively. This amount represents the unamortized fee associated with these standby letters of credit and is included in the consolidated balance sheet of Pinnacle Financial and is believed to approximate fair value. This fair value will decrease over time as the existing standby letters of credit approach their expiration dates.