Equity method investment

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Note 2. Equity method investment

A summary of BHG's financial position as of March 31, 2020 and December 31, 2019 and results of operations as of and for the three months ended March 31, 2020 and 2019, were as follows (in thousands):


	As of
	March 31, 2020		December 31, 2019
Assets	$	1,156,130	$	840,398

Liabilities	942,372		641,037
Equity interests	213,758		199,361
Total liabilities and equity	$	1,156,130	$	840,398


	For the three months ended March 31,
	2020		2019
Revenues	$	97,943	$	62,817
Net income	$	32,471	$	27,135

At March 31, 2020, technology, trade name and customer relationship intangibles, net of related amortization, totaled $8.5 million compared to $8.8 million as of December 31, 2019. Amortization expense of $293,000 was included for the three months ended March 31, 2020 compared to $475,000 for the same period in the prior year. Accretion income of $564,000 was included in the three months ended March 31, 2020 compared to $683,000 for the same period in the prior year.

During the three months ended March 31, 2020, Pinnacle Financial and Pinnacle Bank received dividends from BHG of $8.0 million in the aggregate compared to $12.7 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. No loans were purchased from BHG by Pinnacle Bank for the three month periods ended March 31, 2020 or 2019, respectively.