Subordinated Debt and Other borrowings (Tables)

6 Months Ended

Jun. 30, 2017

Subordinated Debt [Abstract]

Schedule of Subordinated Debt and 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. Additionally, Pinnacle Financial has entered into certain other subordinated debt agreements and a revolving credit facility as outlined below and fully described in its Annual Report on Form 10-K (in thousands):

Name	Date Established	Maturity	Total Debt Outstanding			Interest Rate at June 30, 2017		Coupon Structure
Trust preferred securities
Pinnacle Statutory Trust I	December 29, 2003	December 30, 2033	$	10,310		3.95	%	30-day LIBOR + 2.80%
Pinnacle Statutory Trust II	September 15, 2005	September 30, 2035	20,619			2.70	%	30-day LIBOR + 1.40%
Pinnacle Statutory Trust III	September 7, 2006	September 30, 2036	20,619			2.95	%	30-day LIBOR + 1.65%
Pinnacle Statutory Trust IV	October 31, 2007	September 30, 2037	30,928			4.10	%	30-day LIBOR + 2.85%
BNC Capital Trust I	April 3, 2003	April 15, 2033	5,155			4.41	%	30-day LIBOR + 3.25%
BNC Capital Trust II	March 11, 2004	April 7, 2034	6,186			4.01	%	30-day LIBOR + 2.85%
BNC Capital Trust III	September 23, 2004	September 23, 2034	5,155			3.56	%	30-day LIBOR + 2.40%
BNC Capital Trust IV	September 27, 2006	December 31, 2036	7,217			3.00	%	30-day LIBOR + 1.70%
Valley Financial Trust I	August 5, 2005	September 30, 2035	4,124			4.25	%	30-day LIBOR + 3.10%
Valley Financial Trust II	June 6, 2003	June 26, 2033	7,217			2.62	%	30-day LIBOR + 1.49%
Valley Financial Trust III	September 26, 2005	December 15, 2035	5,155			2.90	%	30-day LIBOR + 1.73%
Southcoast Capital Trust III	December 15, 2006	January 30, 2037	10,310			2.80	%	30-day LIBOR + 1.50%
Subordinated Debt
Pinnacle Bank Subordinated Notes	July 30, 2015	July 30, 2025	60,000			4.88	%	Fixed (1)
Pinnacle Bank Subordinated Notes	March 10, 2016	July 30, 2025	70,000			4.88	%	Fixed (1)
Avenue Subordinated Notes	December 29, 2014	December 29, 2024	20,000			6.75	%	Fixed (2)
Pinnacle Financial Subordinated Notes	November 16, 2016	November 16, 2026	120,000			5.25	%	Fixed (3)
BNC Subordinated Notes	September 25, 2014	October 1, 2024	60,000			5.50	%	Fixed
BNC Subordinated Notes	October 15, 2013	October 15, 2023	10,560			6.04	%	30-day LIBOR + 5.00% (4)
Other Borrowings
Revolving credit facility (5)	March 29, 2016	March 27, 2018	—			—
Debt issuance costs and fair value adjustments			(8,136		)
Total subordinated debt and other borrowings			$	465,419

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(1) Migrates to three month LIBOR + 3.128% beginning July 30, 2020 through the end of the term.

(2) Migrates to three month LIBOR + 4.95% beginning January 1, 2020 through the end of the term.

(3) Migrates to three month LIBOR + 3.884% beginning November 16, 2021 through the end of the term.

(4) Coupon structure includes a floor of 5.5% and a cap of 9.5%

(5) Borrowing capacity on the revolving credit facility is $75.0 million. At June 30, 2017, there was no outstanding balance under this facility.