Note 3 - Equity Method Investment
A summary of BHG's financial position as of June 30, 2026 and December 31, 2025 and results of operations as of and for the three and six months ended June 30, 2026 and 2025, were as follows: | | | | | | | | | | | | | As of | | June 30, 2026 | | December 31, 2025 | | (in millions) | | | | | Assets | $ | 4,738 | | | $ | 4,264 | | | | | | | Liabilities | $ | 4,333 | | | $ | 3,824 | | | Equity interests | 405 | | | 440 | | | Total liabilities and equity | $ | 4,738 | | | $ | 4,264 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | 2025 | | (in millions) | | | | | | | | Revenues | $ | 302 | | | $ | 270 | | | $ | 604 | | $ | 511 | | | Net income | $ | 47 | | | $ | 51 | | | $ | 116 | | $ | 95 | | | | | | | | |
During the three and six months ended June 30, 2026, Pinnacle Bank received cash distributions of $69 million and $70 million, respectively, from BHG compared to $77 million and $102 million, respectively, received during the three and six months ended June 30, 2025. Earnings from BHG are included in Pinnacle's consolidated tax return. Profits from intercompany transactions are eliminated.
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