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Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Financial assets:    
Securities held-to-maturity $ 1,060,847 $ 201,217
Off-balance sheet instruments:    
Commitments to extend credit [1] 21,200 2,400
Standby letters of credit 1,600 [1] 1,400
Quoted market prices in an active market (Level 1)    
Financial assets:    
Securities held-to-maturity 0 0
Loans, net 0 0
Consumer loans held-for-sale 0 0
Commercial loans held-for-sale 0 0
Financial liabilities:    
Deposits and securities sold under agreements to repurchase 0 0
Federal Home Loan Bank advances 0 0
Subordinated debt and other borrowings 0 0
Off-balance sheet instruments:    
Commitments to extend credit [1] 0 0
Models with significant observable market parameters (Level 2)    
Financial assets:    
Securities held-to-maturity 1,060,847 201,217
Loans, net 0 0
Consumer loans held-for-sale 84,877 82,986
Commercial loans held-for-sale 12,606 17,836
Financial liabilities:    
Deposits and securities sold under agreements to repurchase 0 0
Federal Home Loan Bank advances 0 0
Subordinated debt and other borrowings 0 0
Off-balance sheet instruments:    
Commitments to extend credit [1] 0 0
Models with significant unobservable market parameters (Level 3)    
Financial assets:    
Securities held-to-maturity 0 0
Loans, net 22,483,708 19,717,845
Consumer loans held-for-sale 0 0
Commercial loans held-for-sale 0 0
Financial liabilities:    
Deposits and securities sold under agreements to repurchase 25,804,207 19,647,392
Federal Home Loan Bank advances 1,428,059 2,078,514
Subordinated debt and other borrowings 681,964 712,220
Off-balance sheet instruments:    
Commitments to extend credit [1] 22,784 3,786
Carrying/ Notional Amount    
Financial assets:    
Securities held-to-maturity 1,039,650 188,996
Loans, net 22,188,764 19,693,099
Consumer loans held-for-sale 82,748 81,820
Commercial loans held-for-sale 12,290 17,585
Financial liabilities:    
Deposits and securities sold under agreements to repurchase 26,671,015 20,307,382
Federal Home Loan Bank advances 1,287,738 2,062,534
Subordinated debt and other borrowings 670,273 749,080
Off-balance sheet instruments:    
Commitments to extend credit [1] 9,374,780 8,141,920
Estimated Fair Value    
Financial assets:    
Securities held-to-maturity [2] 1,060,847 201,217
Loans, net [2] 22,483,708 19,717,845
Consumer loans held-for-sale [2] 84,877 82,986
Commercial loans held-for-sale [2] 12,606 17,836
Financial liabilities:    
Deposits and securities sold under agreements to repurchase [2] 25,804,207 19,647,392
Federal Home Loan Bank advances [2] 1,428,059 2,078,514
Subordinated debt and other borrowings [2] 681,964 712,220
Off-balance sheet instruments:    
Commitments to extend credit [1],[2] $ 22,784 $ 3,786
[1] At the end of each quarter, Pinnacle Financial evaluates the inherent risks of the outstanding off-balance sheet commitments, including both commitments for unfunded loans and standby letters of credit. In making this evaluation, Pinnacle Financial utilizes credit loss expectations on funded loans from our allowance for credit losses methodology and evaluates the probability that the outstanding commitment will eventually become a funded loan. As a result, at September 30, 2020 and December 31, 2019, Pinnacle Financial included in other liabilities $21.2 million and $2.4 million, respectively, representing expected credit losses on off-balance sheet commitments, which are reflected in the estimated fair values of the related commitments. Also included in the fair values at September 30, 2020 and December 31, 2019 are unamortized fees related to these commitments of $1.6 million and $1.4 million, respectively.
[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.