Equity method investment

9 Months Ended

Sep. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

Note 3. Equity method investment

A summary of BHG's financial position as of September 30, 2018 and December 31, 2017 and results of operations as of and for the three and nine months ended September 30, 2018 and 2017, were as follows (in thousands):



	As of
	September 30, 2018		December 31, 2017
Assets	$	436,693	$	330,030

Liabilities	322,323		224,837
Membership interests	114,370		105,193
Total liabilities and membership interests	$	436,693	$	330,030



	For the three months ended September 30,				For the nine months ended September 30,
	2018		2017		2018		2017
Revenues	$	59,133	$	41,997	$	151,937	$	113,244
Net income	$	30,933	$	20,428	$	69,039	$	54,453

At September 30, 2018, technology, trade name and customer relationship intangibles, net of related amortization, totaled $11.3 million compared to $13.4 million as of December 31, 2017. Amortization expense of $693,000 and $2.1 million, respectively, was included for the three and nine months ended September 30, 2018 compared to $832,000 and $2.5 million, respectively, for the same periods in the prior year. Accretion income of $719,000 and $2.2 million, respectively, was included in the three and nine months ended September 30, 2018 compared to $758,000 and $2.3 million, respectively, for the same periods in the prior year.

During the three and nine months ended September 30, 2018, Pinnacle Financial and Pinnacle Bank received dividends from BHG of $10.2 million and $33.7 million, respectively, in the aggregate compared to $4.5 million and $19.4 million, respectively, for the same periods in the prior year. Earnings from BHG are included in Pinnacle Financial's consolidated tax return. Profits from intercompany transactions are eliminated. No loans were purchased from BHG by Pinnacle Bank for the three and nine month periods ended September 30, 2018 or 2017, respectively.