XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Interest income:      
Loans, including fees $ 184,648,800us-gaap_InterestAndFeeIncomeLoansAndLeases $ 169,252,739us-gaap_InterestAndFeeIncomeLoansAndLeases $ 160,036,709us-gaap_InterestAndFeeIncomeLoansAndLeases
Securities:      
Taxable 14,227,172us-gaap_InterestIncomeSecuritiesTaxable 14,504,464us-gaap_InterestIncomeSecuritiesTaxable 16,931,417us-gaap_InterestIncomeSecuritiesTaxable
Tax-exempt 6,167,264us-gaap_InterestIncomeSecuritiesTaxExempt 6,378,345us-gaap_InterestIncomeSecuritiesTaxExempt 6,576,701us-gaap_InterestIncomeSecuritiesTaxExempt
Federal funds sold and other 1,126,726us-gaap_InterestIncomeFederalFundsSold 1,146,867us-gaap_InterestIncomeFederalFundsSold 1,876,731us-gaap_InterestIncomeFederalFundsSold
Total interest income 206,169,962us-gaap_InterestAndDividendIncomeOperating 191,282,415us-gaap_InterestAndDividendIncomeOperating 185,421,558us-gaap_InterestAndDividendIncomeOperating
Interest expense:      
Deposits 9,953,930us-gaap_InterestExpenseDeposits 11,721,387us-gaap_InterestExpenseDeposits 16,842,852us-gaap_InterestExpenseDeposits
Securities sold under agreements to repurchase 140,623us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase 238,775us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase 455,499us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
Federal Home Loan Bank advances and other borrowings 3,090,860us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm 3,423,617us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm 5,258,749us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
Total interest expense 13,185,413us-gaap_InterestExpense 15,383,779us-gaap_InterestExpense 22,557,100us-gaap_InterestExpense
Net interest income 192,984,549us-gaap_InterestIncomeExpenseNet 175,898,636us-gaap_InterestIncomeExpenseNet 162,864,458us-gaap_InterestIncomeExpenseNet
Provision for loan losses 3,634,660us-gaap_ProvisionForLoanAndLeaseLosses 7,856,522us-gaap_ProvisionForLoanAndLeaseLosses 5,568,830us-gaap_ProvisionForLoanAndLeaseLosses
Net interest income after provision for loan losses 189,349,889us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 168,042,114us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 157,295,628us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
Noninterest income:      
Service charges on deposit accounts 11,707,274us-gaap_FeesAndCommissionsDepositorAccounts 10,557,528us-gaap_FeesAndCommissionsDepositorAccounts 9,917,754us-gaap_FeesAndCommissionsDepositorAccounts
Investment services 9,382,670us-gaap_InvestmentAdvisoryManagementAndAdministrativeFees 8,038,425us-gaap_InvestmentAdvisoryManagementAndAdministrativeFees 6,984,970us-gaap_InvestmentAdvisoryManagementAndAdministrativeFees
Insurance sales commissions 4,612,583us-gaap_InsuranceCommissionsAndFees 4,537,150us-gaap_InsuranceCommissionsAndFees 4,461,404us-gaap_InsuranceCommissionsAndFees
Trust fees 4,601,036us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities 3,747,241us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities 3,195,950us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities
Gains on mortgage loans sold, net 5,630,371us-gaap_GainLossOnSaleOfMortgageLoans 6,243,411us-gaap_GainLossOnSaleOfMortgageLoans 6,698,618us-gaap_GainLossOnSaleOfMortgageLoans
Gain on sale of investment securities, net 29,221us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet (1,466,475)us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet 2,150,605us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet
Other noninterest income 16,639,323us-gaap_NoninterestIncomeOtherOperatingIncome 15,446,298us-gaap_NoninterestIncomeOtherOperatingIncome 9,987,335us-gaap_NoninterestIncomeOtherOperatingIncome
Total noninterest income 52,602,478us-gaap_NoninterestIncome 47,103,578us-gaap_NoninterestIncome 43,396,636us-gaap_NoninterestIncome
Noninterest expense:      
Salaries and employee benefits 88,319,567us-gaap_LaborAndRelatedExpense 82,646,967us-gaap_LaborAndRelatedExpense 78,056,564us-gaap_LaborAndRelatedExpense
Equipment and occupancy 24,087,335us-gaap_OccupancyNet 21,273,454us-gaap_OccupancyNet 20,420,333us-gaap_OccupancyNet
Other real estate expense 664,289us-gaap_GainsLossesOnSalesOfOtherRealEstate 3,113,046us-gaap_GainsLossesOnSalesOfOtherRealEstate 11,544,067us-gaap_GainsLossesOnSalesOfOtherRealEstate
Marketing and other business development 4,127,949us-gaap_BusinessDevelopment 3,638,941us-gaap_BusinessDevelopment 3,635,810us-gaap_BusinessDevelopment
Postage and supplies 2,391,838us-gaap_SuppliesAndPostageExpense 2,249,950us-gaap_SuppliesAndPostageExpense 2,379,730us-gaap_SuppliesAndPostageExpense
Amortization of intangibles 947,678us-gaap_AmortizationOfIntangibleAssets 1,262,524us-gaap_AmortizationOfIntangibleAssets 2,738,994us-gaap_AmortizationOfIntangibleAssets
Other noninterest expense 15,761,027us-gaap_OtherNoninterestExpense 15,076,332us-gaap_OtherNoninterestExpense 19,389,368us-gaap_OtherNoninterestExpense
Total noninterest expense 136,299,683us-gaap_NoninterestExpense 129,261,214us-gaap_NoninterestExpense 138,164,866us-gaap_NoninterestExpense
Income (loss) before income taxes 105,652,684us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 85,884,478us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 62,527,398us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (benefit) 35,181,517us-gaap_IncomeTaxExpenseBenefit 28,158,277.000us-gaap_IncomeTaxExpenseBenefit 20,643,517us-gaap_IncomeTaxExpenseBenefit
Net income (loss) 70,471,167us-gaap_NetIncomeLoss 57,726,201us-gaap_NetIncomeLoss 41,883,881us-gaap_NetIncomeLoss
Preferred stock dividends 0us-gaap_PreferredStockDividendsIncomeStatementImpact 0us-gaap_PreferredStockDividendsIncomeStatementImpact 1,660,868us-gaap_PreferredStockDividendsIncomeStatementImpact
Accretion on preferred stock discount 0pnfp_AccretionOnPreferredStockDiscount 0pnfp_AccretionOnPreferredStockDiscount 2,153,172pnfp_AccretionOnPreferredStockDiscount
Net income (loss) available to common stockholders $ 70,471,167us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 57,726,201us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 38,069,841us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Per share information:      
Basic net income (loss) per common share available to common stockholders (in dollars per share) $ 2.03us-gaap_EarningsPerShareBasic $ 1.69us-gaap_EarningsPerShareBasic $ 1.12us-gaap_EarningsPerShareBasic
Diluted net income (loss) per common share available to common stockholders (in dollars per share) $ 2.01us-gaap_EarningsPerShareDiluted $ 1.67us-gaap_EarningsPerShareDiluted $ 1.10us-gaap_EarningsPerShareDiluted
Weighted average common shares outstanding:      
Basic (in shares) 34,723,335us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 34,200,770us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 33,899,667us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted (in shares) 35,126,890us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 34,509,261us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 34,487,808us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding