Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Jan. 31, 2015 | Jun. 30, 2014 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | FIRST HORIZON NATIONAL CORP | ||
Entity Central Index Key | 36966 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 234,225,117 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | Yes | ||
Entity Public Float | $2,800,000,000 |
Consolidated_Statements_Of_Con
Consolidated Statements Of Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Assets: | ||||
Cash and due from banks | $349,171,000 | $349,216,000 | ||
Federal funds sold | 63,080,000 | 66,079,000 | ||
Securities purchased under agreements to resell (Note 24) | 659,154,000 | 412,614,000 | ||
Total cash and cash equivalents | 1,071,405,000 | 827,909,000 | ||
Interest-bearing cash | 1,621,967,000 | 730,297,000 | ||
Trading securities | 1,194,391,000 | 801,718,000 | ||
Loans held-for-sale | 141,285,000 | 370,152,000 | ||
Securities available-for-sale (Note 3) | 3,556,613,000 | [1] | 3,398,457,000 | [2] |
Securities held-to-maturity (Note 3) | 4,292,000 | 0 | ||
Loans, net of unearned income (Note 4) | 16,230,166,000 | 15,389,074,000 | ||
Less: Allowance for loan losses (Note 5) | 232,448,000 | 253,809,000 | ||
Total net loans | 15,997,718,000 | 15,135,265,000 | ||
Mortgage servicing rights (Note 7) | 2,517,000 | 72,793,000 | ||
Goodwill (Note 8) | 145,932,000 | 141,943,000 | ||
Other intangible assets, net (Note 8) | 29,518,000 | [3] | 21,988,000 | [3] |
Capital markets receivables | 42,488,000 | 45,255,000 | ||
Premises and equipment, net (Note 6) | 302,996,000 | 305,244,000 | ||
Real estate acquired by foreclosure | 39,922,000 | 71,562,000 | ||
Derivative assets (Note 23) | 134,088,000 | 181,866,000 | ||
Other assets | 1,387,755,000 | 1,685,384,000 | ||
Total assets | 25,672,887,000 | 23,789,833,000 | ||
Deposits: | ||||
Savings | 7,455,354,000 | 6,732,326,000 | ||
Time deposits | 831,666,000 | 951,755,000 | ||
Other interest-bearing deposits | 4,140,991,000 | 3,859,079,000 | ||
Certificates of deposit $100,000 and more | 445,272,000 | 553,957,000 | ||
Interest-bearing | 12,873,283,000 | 12,097,117,000 | ||
Noninterest-bearing | 5,195,656,000 | 4,637,839,000 | ||
Total deposits | 18,068,939,000 | 16,734,956,000 | ||
Federal funds purchased (Note 10) | 1,037,052,000 | 1,042,633,000 | ||
Securities sold under agreements to repurchase (Note 10 and Note 24) | 562,214,000 | 442,789,000 | ||
Trading liabilities (Note 10) | 594,314,000 | 368,348,000 | ||
Other short-term borrowings (Note 10) | 157,218,000 | 181,146,000 | ||
Term borrowings (Note 11) | 1,880,105,000 | 1,739,859,000 | ||
Capital markets payables | 18,157,000 | 21,173,000 | ||
Derivative liabilities (Note 23) | 119,239,000 | 154,280,000 | ||
Other liabilities | 644,681,000 | 603,898,000 | ||
Total liabilities | 23,081,919,000 | 21,289,082,000 | ||
First Horizon National Corporation Shareholders' Equity: | ||||
Preferred stock - Series A, non-cumulative perpetual, no par value, liquidation preference of $100,000 per share - (shares authorized - 1,000; shares issued - 1,000 on December 31, 2014 and 2013) | 95,624,000 | 95,624,000 | ||
Common stock - $.625 par value (shares authorized - 400,000,000; shares issued - 234,219,663 on December 31, 2014 and 236,369,554 on December 31, 2013) | 146,387,000 | 147,731,000 | ||
Capital surplus | 1,380,809,000 | 1,416,767,000 | ||
Undivided profits | 860,963,000 | 695,207,000 | ||
Accumulated other comprehensive loss, net (Note 15) | -188,246,000 | -150,009,000 | ||
Total First Horizon National Corporation Shareholders' Equity | 2,295,537,000 | 2,205,320,000 | ||
Noncontrolling interest (Note 12) | 295,431,000 | 295,431,000 | ||
Total equity | 2,590,968,000 | 2,500,751,000 | ||
Total liabilities and equity | $25,672,887,000 | $23,789,833,000 | ||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[3] | Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. |
Recovered_Sheet1
Consolidated Statements of Condition (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Consolidated Condensed Statements Of Condition [Abstract] | ||
Common stock, par value | $0.63 | $0.63 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Common stock, shares issued | 234,219,663 | 236,369,554 |
Preferred stock, no par value | $0 | $0 |
Preferred Stock Liquidation Preference Value | $100,000 | $100,000 |
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares issued | 1,000 | 1,000 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | |||||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Interest income: | ||||||
Interest and fees on loans | $571,798,000 | $599,710,000 | $648,555,000 | |||
Interest on investment securities available-for-sale | 93,233,000 | 83,787,000 | 98,450,000 | |||
Interest on investment securities held-to-maturity | 287,000 | 0 | 0 | |||
Interest on loans held-for-sale | 11,170,000 | 12,982,000 | 14,906,000 | |||
Interest on trading securities | 31,991,000 | 34,548,000 | 35,363,000 | |||
Interest on other earning assets | 770,000 | 1,026,000 | 1,679,000 | |||
Total interest income | 709,249,000 | 732,053,000 | 798,953,000 | |||
Interest on deposits: | ||||||
Savings | 11,562,000 | 14,762,000 | 19,744,000 | |||
Time deposits | 9,076,000 | 15,879,000 | 21,265,000 | |||
Other interest-bearing deposits | 3,078,000 | 3,747,000 | 5,896,000 | |||
Certificates of deposit $100,000 and more | 3,090,000 | 5,642,000 | 8,311,000 | |||
Interest on trading liabilities | 15,390,000 | 13,624,000 | 10,450,000 | |||
Interest on short-term borrowings | 4,765,000 | 4,704,000 | 5,286,000 | |||
Interest on term borrowings | 34,570,000 | 36,321,000 | 39,334,000 | |||
Total interest expense | 81,531,000 | 94,679,000 | 110,286,000 | |||
Net interest income | 627,718,000 | 637,374,000 | 688,667,000 | |||
Provision for loan losses | 27,000,000 | 55,000,000 | 78,000,000 | [1] | ||
Net interest income after provision for loan losses | 600,718,000 | 582,374,000 | 610,667,000 | |||
Noninterest income: | ||||||
Capital markets | 200,595,000 | 272,364,000 | 334,912,000 | |||
Deposit transactions and cash management | 111,951,000 | 114,383,000 | 120,168,000 | |||
Mortgage banking | 71,257,000 | 33,275,000 | 51,890,000 | |||
Brokerage, management fees and commissions | 49,099,000 | 42,261,000 | 34,934,000 | |||
Trust services and investment management | 27,777,000 | 26,523,000 | 24,319,000 | |||
Bankcard income | 23,697,000 | 20,482,000 | 22,384,000 | |||
Bank-owned life insurance | 16,394,000 | 16,614,000 | 18,805,000 | |||
Other service charges | 11,882,000 | 13,440,000 | 12,935,000 | |||
Equity securities gains/(losses), net | 2,872,000 | 2,211,000 | 365,000 | |||
Insurance commissions | 2,257,000 | 3,023,000 | 3,148,000 | |||
Debt securities gains/(losses), net (Note 15) | 0 | -451,000 | 328,000 | |||
Gain on divestiture | 0 | 111,000 | 200,000 | |||
All other income and commissions (Note 14) | 32,263,000 | 40,341,000 | 46,941,000 | |||
Total noninterest income | 550,044,000 | 584,577,000 | 671,329,000 | |||
Adjusted gross income after provision for loan losses | 1,150,762,000 | 1,166,951,000 | 1,281,996,000 | |||
Noninterest expense: | ||||||
Employee compensation, incentives, and benefits (2014 and 2013 include $5.1 million and $10.1 million, respectively, of expense associated with pension and post-retirement plans reclassified from accumulated other comprehensive income) | 478,159,000 | 529,041,000 | 640,857,000 | |||
Occupancy | 54,018,000 | 50,565,000 | 49,027,000 | |||
Legal and professional fees | 44,205,000 | 53,359,000 | 38,750,000 | |||
Computer software | 42,931,000 | 40,327,000 | 40,018,000 | |||
Operations services | 35,247,000 | 35,215,000 | 35,429,000 | |||
Equipment rentals, depreciation, and maintenance | 29,964,000 | 31,738,000 | 31,246,000 | |||
Contract employment and outsourcing | 19,420,000 | 35,920,000 | 41,198,000 | |||
Advertising and public relations | 18,683,000 | 18,239,000 | 17,439,000 | |||
Communications and courier | 16,074,000 | 17,958,000 | 18,318,000 | |||
FDIC premium expense | 11,464,000 | 20,156,000 | 27,968,000 | |||
Amortization of intangible assets | 4,170,000 | [2] | 3,912,000 | [2] | 3,910,000 | [2] |
Foreclosed real estate | 2,503,000 | 4,299,000 | 11,041,000 | |||
Repurchase and foreclosure provision | -4,300,000 | 170,000,000 | 299,256,000 | |||
All other expense (Note 14) | 88,673,000 | 147,872,000 | 129,244,000 | |||
Total noninterest expense | 841,211,000 | 1,158,601,000 | 1,383,701,000 | |||
Income/(loss) before income taxes | 309,551,000 | 8,350,000 | -101,705,000 | |||
Provision/(benefit) for income taxes (2014 and 2013 include $2.0 million and $4.1 million, respectively, of tax benefit reclassified from accumulated other comprehensive income) (Note 16) | 78,501,000 | -32,169,000 | -85,262,000 | |||
Income/(loss) from continuing operations | 231,050,000 | 40,519,000 | -16,443,000 | |||
Income/(loss) from discontinued operations, net of tax | 0 | [3] | 548,000 | [3] | 148,000 | [3] |
Net income/(loss) | 231,050,000 | 41,067,000 | -16,295,000 | |||
Net income attributable to noncontrolling interest | 11,527,000 | 11,465,000 | 11,464,000 | |||
Net income/(loss) attributable to controlling interest | 219,523,000 | 29,602,000 | -27,759,000 | |||
Preferred stock dividends | 6,200,000 | 5,838,000 | 0 | |||
Net income/(loss) available to common shareholders | $213,323,000 | $23,764,000 | ($27,759,000) | |||
Basic earnings/(loss) per share from continuing operations (Note 17) | $0.91 | $0.10 | ($0.11) | |||
Diluted earnings/(loss) per share from continuing operations (Note 17) | $0.90 | $0.10 | ($0.11) | |||
Basic earnings/(loss) per share available to common shareholders (Note 17) | $0.91 | $0.10 | ($0.11) | |||
Diluted earnings/(loss) per share available to common shareholders (Note 17) | $0.90 | $0.10 | ($0.11) | |||
Weighted average common shares (Note 17) | 234,997 | 237,972 | 248,349 | |||
Diluted average common shares (Note 17) | 236,735 | 239,794 | 248,349 | |||
[1] | 2012 includes approximately $23 million of loan loss provision related to dischargedbankruptcies. | |||||
[2] | Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. | |||||
[3] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Income/(loss) from discontinued operations, net of tax have been attributed solely to FHN as the controlling interest holder. |
Recovered_Sheet2
Consolidated Statements of Income (Parenthetical) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Consolidated Condensed Statements Of Income [Abstract] | ||
Available-for-sale expense reclassified from accumulated other comprehensive income | $0 | $451,000 |
Pension and post-retirement plans expense reclassified from accumulated other comprehensive income | 5,100,000 | 10,100,000 |
Income tax benefit reclassified from accumulated other comprehensive income | $2,000,000 | $4,100,000 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Components Of Other Comprehensive Income/(Loss) [Abstract] | ||||||
Net income/(loss) | $231,050,000 | $41,067,000 | ($16,295,000) | |||
Other comprehensive income/(loss), net of tax: | ||||||
Fair value adjustments on securities available-for-sale arising during the period, Net of Tax of $18.1 million for 2014, $(41.9) million for 2013 and $(7.4) million for 2012 | 29,822,000 | -66,768,000 | -11,619,000 | |||
Reclassification adjustment for (gain)/loss on securities available-for-sale included in Net income/(loss), Net of tax of $.2 million for 2013 and $(.1) million for 2012 | 0 | 277,000 | -200,000 | |||
Fair value adjustments on securities available-for-sale | 29,822,000 | -66,491,000 | -11,819,000 | |||
Net actuarial gain/(loss) arising during the period, Net of tax of $(44.8) million for 2014, $31.4 million for 2013 and $(17.9) million for 2012 | -71,173,000 | 50,064,000 | -27,204,000 | |||
Prior service credit/(cost) arising during the period, Net of tax of $4.1 million for 2013 | 0 | 6,563,000 | 0 | |||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost, Net of tax of $2.0 million for 2014, $3.9 million for 2013 and $15.0 millon for 2012 | 3,114,000 | 6,198,000 | 22,836,000 | |||
Total pension and post retirement plans | -68,059,000 | 62,825,000 | -4,368,000 | |||
Other comprehensive income/(loss) | -38,237,000 | [1] | -3,666,000 | [1] | -16,187,000 | [1] |
Comprehensive income/(loss) | 192,813,000 | 37,401,000 | -32,482,000 | |||
Comprehensive income attributable to noncontrolling interest | 11,527,000 | 11,465,000 | 11,464,000 | |||
Comprehensive income/(loss) attributable to controlling interest | $181,286,000 | $25,936,000 | ($43,946,000) | |||
[1] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Income/(loss) from discontinued operations, net of tax have been attributed solely to FHN as the controlling interest holder. |
Consolidated_Statements_Of_Com1
Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Components Of Other Comprehensive Income/(Loss) [Abstract] | |||
Fair value adjustments on securities available-for-sale arising during the period, Tax Benefit/(Expense) | ($18,135,000) | $41,935,000 | $7,397,000 |
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss), Tax (Benefit)/Expense | -174,000 | 128,000 | |
Net actuarial gain/(loss) arising during the period, Tax Benefit/(Expense) | 44,803,000 | -31,392,000 | 17,906,000 |
Prior service credit/(cost) arising during period, Tax Benefit/(Expense) | -4,115,000 | ||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost, Tax Benefit/(Expense) | ($1,961,000) | ($3,887,000) | ($15,031,000) |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Preferred Stock | Common Stock | Capital Surplus | Undivided Profits | Accumulated Other Comprehensive Income/(Loss) | Noncontrolling Interest | ||||||
Class A Preferred Stock | |||||||||||||
Balance, at Dec. 31, 2011 | $2,684,637,000 | $0 | $160,918,000 | $1,601,346,000 | $757,364,000 | ($130,156,000) | [1] | $295,165,000 | |||||
Balance, shares at Dec. 31, 2011 | 257,468,000 | ||||||||||||
Net income/(loss) | -16,295,000 | 0 | 0 | 0 | -27,759,000 | 0 | [1] | 11,464,000 | |||||
Fair value adjustments, net of tax: | |||||||||||||
Securities available-for-sale | -11,819,000 | 0 | 0 | 0 | 0 | -11,819,000 | [1] | 0 | |||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | -27,204,000 | 0 | 0 | 0 | 0 | -27,204,000 | [1] | 0 | |||||
Prior service credit/(cost) arising during the period | 0 | ||||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 22,836,000 | 0 | 0 | 0 | 0 | 22,836,000 | [1] | 0 | |||||
Comprehensive income/(loss) | -32,482,000 | 0 | 0 | 0 | -27,759,000 | -16,187,000 | [1] | 11,464,000 | |||||
Cash dividends declared: | |||||||||||||
Preferred stock ($6,200 per share for 2014 and $5,838 per share for 2013) | 0 | ||||||||||||
Common stock ($.20 per share for 2014 and 2013 and $.04 per share for 2012) | -9,933,000 | 0 | 0 | 0 | -9,933,000 | 0 | [1] | 0 | |||||
Common stock repurchased | -133,757,000 | [2] | 0 | -9,064,000 | [2] | -124,693,000 | [2] | 0 | [2] | 0 | [1],[2] | 0 | [2] |
Common stock repurchased, shares | 14,502,000 | 14,502,000 | |||||||||||
Common stock issued for: | |||||||||||||
Stock options and restricted stock-equity awards | 144,000 | 0 | 395,000 | -251,000 | 0 | 0 | [1] | 0 | |||||
Stock options and restricted stock - equity awards, shares | 632,000 | 632,000 | |||||||||||
Tax benefit reversals-stock-based compensation plans | -4,140,000 | 0 | 0 | -4,140,000 | 0 | 0 | [1] | 0 | |||||
Stock-based compensation expense | 16,201,000 | 0 | 0 | 16,201,000 | 0 | 0 | [1] | 0 | |||||
Dividends declared-noncontrolling interest of subsidiary preferred stock | -11,464,000 | 0 | 0 | 0 | 0 | 0 | [1] | -11,464,000 | |||||
Balance, at Dec. 31, 2012 | 2,509,206,000 | 0 | 152,249,000 | 1,488,463,000 | 719,672,000 | -146,343,000 | [1] | 295,165,000 | |||||
Balance, shares at Dec. 31, 2012 | 243,598,000 | ||||||||||||
Net income/(loss) | 41,067,000 | 0 | 0 | 0 | 29,602,000 | 0 | [1] | 11,465,000 | |||||
Fair value adjustments, net of tax: | |||||||||||||
Securities available-for-sale | -66,491,000 | 0 | 0 | 0 | 0 | -66,491,000 | [1] | 0 | |||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | 50,064,000 | 0 | 0 | 0 | 0 | 50,064,000 | [1] | 0 | |||||
Prior service credit/(cost) arising during the period | 6,563,000 | 0 | 0 | 0 | 0 | 6,563,000 | [1] | 0 | |||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 6,198,000 | 0 | 0 | 0 | 0 | 6,198,000 | [1] | 0 | |||||
Comprehensive income/(loss) | 37,401,000 | 0 | 0 | 0 | 29,602,000 | -3,666,000 | [1] | 11,465,000 | |||||
Preferred stock issuance (1,000 shares issued at $100,000 per share net of offering costs) | 95,624,000 | 95,624,000 | 0 | 0 | 0 | 0 | [1] | 0 | |||||
Cash dividends declared: | |||||||||||||
Preferred stock ($6,200 per share for 2014 and $5,838 per share for 2013) | -5,838,000 | 0 | 0 | 0 | -5,838,000 | 0 | [1] | 0 | |||||
Common stock ($.20 per share for 2014 and 2013 and $.04 per share for 2012) | -48,302,000 | 0 | 0 | 0 | -48,302,000 | 0 | [1] | 0 | |||||
Common stock repurchased | -91,448,000 | [2] | 0 | -5,223,000 | [2] | -86,225,000 | [2] | 0 | [2] | 0 | [1],[2] | 0 | [2] |
Common stock repurchased, shares | 8,356,000 | 8,356,000 | |||||||||||
Common stock issued for: | |||||||||||||
Stock options and restricted stock-equity awards | 659,000 | 0 | 705,000 | -46,000 | 0 | 0 | [1] | 0 | |||||
Stock options and restricted stock - equity awards, shares | 1,128,000 | 1,128,000 | |||||||||||
Tax benefit reversals-stock-based compensation plans | -1,569,000 | 0 | 0 | -1,569,000 | 0 | 0 | [1] | 0 | |||||
Stock-based compensation expense | 16,144,000 | 0 | 0 | 16,144,000 | 0 | 0 | [1] | 0 | |||||
Dividends declared-noncontrolling interest of subsidiary preferred stock | -11,465,000 | 0 | 0 | 0 | 0 | 0 | [1] | -11,465,000 | |||||
Real estate investment trust ("REIT") preferred stock issuance | 92,000 | 0 | 0 | 0 | 0 | 0 | 92,000 | ||||||
Acquired noncontrolling interest - REIT | 174,000 | 0 | 0 | 0 | 0 | 0 | [1] | 174,000 | |||||
Other changes in equity | 73,000 | 0 | 0 | 0 | 73,000 | 0 | [1] | 0 | |||||
Balance, at Dec. 31, 2013 | 2,500,751,000 | 95,624,000 | 147,731,000 | 1,416,767,000 | 695,207,000 | -150,009,000 | [1] | 295,431,000 | |||||
Balance, shares at Dec. 31, 2013 | 236,370,000 | ||||||||||||
Net income/(loss) | 231,050,000 | 0 | 0 | 0 | 219,523,000 | 0 | [1] | 11,527,000 | |||||
Fair value adjustments, net of tax: | |||||||||||||
Securities available-for-sale | 29,822,000 | 0 | 0 | 0 | 0 | 29,822,000 | [1] | 0 | |||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | -71,173,000 | 0 | 0 | 0 | 0 | -71,173,000 | [1] | 0 | |||||
Prior service credit/(cost) arising during the period | 0 | ||||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 3,114,000 | 0 | 0 | 0 | 0 | 3,114,000 | [1] | 0 | |||||
Comprehensive income/(loss) | 192,813,000 | 0 | 0 | 0 | 219,523,000 | -38,237,000 | [1] | 11,527,000 | |||||
Cash dividends declared: | |||||||||||||
Preferred stock ($6,200 per share for 2014 and $5,838 per share for 2013) | -6,200,000 | 0 | 0 | 0 | -6,200,000 | 0 | [1] | 0 | |||||
Common stock ($.20 per share for 2014 and 2013 and $.04 per share for 2012) | -47,567,000 | 0 | 0 | 0 | -47,567,000 | 0 | [1] | 0 | |||||
Common stock repurchased | -43,579,000 | [2] | 0 | -2,221,000 | [2] | -41,358,000 | [2] | 0 | [2] | 0 | [1],[2] | 0 | [2] |
Common stock repurchased, shares | 3,554,000 | 3,554,000 | |||||||||||
Common stock issued for: | |||||||||||||
Stock options and restricted stock-equity awards | 2,146,000 | 0 | 877,000 | 1,269,000 | 0 | 0 | [1] | 0 | |||||
Stock options and restricted stock - equity awards, shares | 1,404,000 | 1,404,000 | |||||||||||
Tax benefit reversals-stock-based compensation plans | -7,220,000 | 0 | 0 | -7,220,000 | 0 | 0 | [1] | 0 | |||||
Stock-based compensation expense | 11,351,000 | 0 | 0 | 11,351,000 | 0 | 0 | [1] | 0 | |||||
Dividends declared-noncontrolling interest of subsidiary preferred stock | -11,527,000 | 0 | 0 | 0 | 0 | 0 | [1] | -11,527,000 | |||||
Balance, at Dec. 31, 2014 | $2,590,968,000 | $95,624,000 | $146,387,000 | $1,380,809,000 | $860,963,000 | ($188,246,000) | [1] | $295,431,000 | |||||
Balance, shares at Dec. 31, 2014 | 234,220,000 | ||||||||||||
[1] | Due to the nature of the preferred stock issued by FHN's subsidiaries, all components of other comprehensive income/(loss) have been attributed solely to FHN as the controlling interest holder. | ||||||||||||
[2] | 2014 includes $38.5 million repurchased under the share repurchase program launched in 2014. 2013 and 2012 include $87.6 million, and $131.0 million, respectively, repurchased under the share repurchase program which was active from October 2011 to January 2014. |
Consolidated_Statements_Of_Equ1
Consolidated Statements Of Equity (Parenthetical) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Common stock - cash dividends declared per share | $0.20 | $0.20 | $0.04 | |||
Common stock repurchased | $43,579,000 | [1] | $91,448,000 | [1] | $133,757,000 | [1] |
Preferred Stock Shares Issued | 1,000 | 1,000 | ||||
Preferred Stock Liquidation Preference | $100,000 | $100,000 | ||||
Preferred Stock Dividends Per Share Declared | $6,200 | $5,838 | ||||
Common Stock [Member] | ||||||
Common stock repurchased | 2,221,000 | [1] | 5,223,000 | [1] | 9,064,000 | [1] |
Common Stock [Member] | Stock Repurchase Authorization [Member] | ||||||
Common stock repurchased | $38,500,000 | $87,600,000 | $131,000,000 | |||
[1] | 2014 includes $38.5 million repurchased under the share repurchase program launched in 2014. 2013 and 2012 include $87.6 million, and $131.0 million, respectively, repurchased under the share repurchase program which was active from October 2011 to January 2014. |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flow (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Operating Activities | ||||||
Net income/(loss) | $231,050,000 | $41,067,000 | ($16,295,000) | |||
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities: | ||||||
Provision for loan losses | 27,000,000 | 55,000,000 | 78,000,000 | [1] | ||
Provision/(benefit) for deferred income taxes | 9,081,000 | -9,376,000 | -70,266,000 | |||
Depreciation and amortization of premises and equipment | 35,715,000 | 36,514,000 | 35,028,000 | |||
Amortization of intangible assets | 4,170,000 | 3,912,000 | 3,910,000 | |||
Net other amortization and accretion | 17,009,000 | 31,187,000 | 79,034,000 | |||
Net (increase)/decrease in derivatives | 170,000 | 650,000 | -8,847,000 | |||
Fair value adjustment on mortgage servicing rights | -1,248,000 | -20,182,000 | 5,075,000 | |||
Repurchase and foreclosure provision | -4,300,000 | 170,000,000 | 299,256,000 | |||
Fair value adjustment to foreclosed real estate | 3,465,000 | 4,987,000 | 9,422,000 | |||
Litigation and regulatory matters | -2,720,000 | 63,654,000 | 33,313,000 | |||
(Gains)/losses on divestitures | 0 | -638,000 | -485,000 | |||
Stock-based compensation expense | 11,351,000 | 16,144,000 | 16,201,000 | |||
Tax benefit reversals stock-based compensation plans | 7,220,000 | 1,569,000 | 4,140,000 | |||
Equity securities (gains)/losses, net | -2,872,000 | -2,211,000 | -365,000 | |||
Debt securities (gains)/losses, net | 0 | 451,000 | -328,000 | |||
(Gains)/losses on extinguishment of debt | 4,166,000 | 0 | 0 | |||
Loss on deconsolidation of debt | 1,960,000 | 0 | 0 | |||
Net (gains)/losses on sale/disposal of fixed assets | 1,906,000 | 2,213,000 | -2,540,000 | |||
Proceeds from sale of mortgage servicing rights | 70,204,000 | 39,633,000 | 0 | |||
Net (increase)/decrease in: | ||||||
Trading securities | -392,806,000 | 455,520,000 | -283,239,000 | |||
Loans held-for-sale | 228,867,000 | 31,785,000 | 11,960,000 | |||
Capital markets receivables | 2,767,000 | 72,517,000 | -31,598,000 | |||
Interest receivable | 1,911,000 | 3,571,000 | 6,007,000 | |||
Other assets | 288,148,000 | 8,787,000 | 188,423,000 | |||
Net increase/(decrease) in: | ||||||
Capital markets payables | -3,016,000 | -89,156,000 | 24,434,000 | |||
Interest payable | 169,000 | -4,301,000 | -2,386,000 | |||
Other liabilities | -60,599,000 | -285,843,000 | -223,446,000 | |||
Trading liabilities | 225,966,000 | -196,081,000 | 217,144,000 | |||
Total adjustments | 473,684,000 | 390,306,000 | 387,847,000 | |||
Net cash provided/(used) by operating activities | 704,734,000 | 431,373,000 | 371,552,000 | |||
Available-for-sale securities: | ||||||
Sales | 7,829,000 | 63,787,000 | 47,536,000 | |||
Maturities | 627,487,000 | 899,591,000 | 1,085,524,000 | |||
Purchases | -751,365,000 | -1,348,526,000 | -1,157,906,000 | |||
Premises and equipment: | ||||||
Sales | 3,507,000 | 765,000 | 7,354,000 | |||
Purchases | -31,404,000 | -27,349,000 | -21,862,000 | |||
Net (increase)/decrease in: | ||||||
Loans | -866,107,000 | 1,464,212,000 | -489,308,000 | |||
Interests retained from securitizations classified as trading securities | 1,692,000 | 5,482,000 | 8,736,000 | |||
Interest-bearing cash | -891,670,000 | -349,940,000 | 99,483,000 | |||
Cash receipts related to divestitures | 0 | 1,638,000 | 5,278,000 | |||
Cash received for acquisition | 413,352,000 | 53,293,000 | 0 | |||
Net cash provided/(used) by investing activities | -1,486,679,000 | 762,953,000 | -415,165,000 | |||
Common stock: | ||||||
Stock options exercised | 1,864,000 | 651,000 | 144,000 | |||
Cash dividends paid | -47,366,000 | -38,229,000 | -10,066,000 | |||
Repurchase of shares | -43,579,000 | [2] | -91,533,000 | [2] | -133,757,000 | [2] |
Tax benefit reversals stock-based compensation plans | -7,220,000 | -1,569,000 | -4,140,000 | |||
Preferred stock issuance | 0 | 95,624,000 | 0 | |||
Cash dividends paid - preferred stock - noncontrolling interest | -11,465,000 | -11,465,000 | -11,406,000 | |||
Cash dividends paid - Series A preferred stock | -6,200,000 | -4,288,000 | 0 | |||
Term borrowings: | ||||||
Issuance | 397,672,000 | 0 | 2,699,000 | |||
Payments/maturities | -23,572,000 | -430,088,000 | -234,209,000 | |||
Increases in restricted and secured term borrowings | 2,310,000 | 5,052,000 | 7,595,000 | |||
Net cash paid to deconsolidate/collapse securitization trusts | -225,151,000 | 0 | 0 | |||
Net increase/(decrease) in: | ||||||
Deposits | 898,232,000 | -258,184,000 | 416,700,000 | |||
Short-term borrowings | 89,916,000 | -738,650,000 | 288,060,000 | |||
Net cash provided/(used) by financing activities | 1,025,441,000 | -1,472,679,000 | 321,620,000 | |||
Net increase/(decrease) in cash and cash equivalents | 243,496,000 | -278,353,000 | 278,007,000 | |||
Cash and cash equivalents at beginning of period | 827,909,000 | 1,106,262,000 | 828,255,000 | |||
Cash and cash equivalents at end of period | 1,071,405,000 | 827,909,000 | 1,106,262,000 | |||
Supplemental Disclosures | ||||||
Total interest paid | 81,151,000 | 97,387,000 | 111,033,000 | |||
Total taxes paid | 77,779,000 | 5,437,000 | 33,112,000 | |||
Total taxes refunded | 3,947,000 | 26,113,000 | 169,396,000 | |||
Transfer from loans to other real estate owned | $20,877,000 | $23,340,000 | $33,558,000 | |||
[1] | 2012 includes approximately $23 million of loan loss provision related to dischargedbankruptcies. | |||||
[2] | 2014 includes $38.5 million repurchased under the share repurchase program launched in 2014. 2013 and 2012 include $87.6 million, and $131.0 million, respectively, repurchased under the share repurchase program which was active from October 2011 to January 2014. |
Consolidated_Statements_Of_Cas1
Consolidated Statements Of Cash Flow (Parenthetical) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Shares repurchased under the share repurchase program, value | $43,579,000 | [1] | $91,533,000 | [1] | $133,757,000 | [1] |
Stock Repurchase Authorization | ||||||
Shares repurchased under the share repurchase program, value | $38,500,000 | $87,600,000 | $131,000,000 | |||
[1] | 2014 includes $38.5 million repurchased under the share repurchase program launched in 2014. 2013 and 2012 include $87.6 million, and $131.0 million, respectively, repurchased under the share repurchase program which was active from October 2011 to January 2014. |
Financial_Information
Financial Information | 12 Months Ended |
Dec. 31, 2014 | |
Financial Information [Abstract] | |
Financial Information | Note 1 – Summary of Significant Accounting Policies |
Basis of Accounting. The consolidated financial statements of First Horizon National Corporation (“FHN”), including its subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America and follow general practices within the industries in which it operates. This preparation requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the financial statements and could differ from actual results. | |
Principles of Consolidation and Basis of Presentation. The consolidated financial statements include the accounts of FHN and other entities in which it has a controlling financial interest. Variable Interest Entities (“VIEs”) for which FHN or a subsidiary has been determined to be the primary beneficiary are also consolidated. Affiliates for which FHN is not considered the primary beneficiary and in which FHN does not have a controlling financial interest are accounted for by the equity method. These investments are included in other assets, and FHN’s proportionate share of income or loss is included in noninterest income. All significant intercompany transactions and balances have been eliminated. For purposes of comparability, certain prior period amounts have been reclassified to conform to current year presentation. | |
Business Combinations. FHN accounts for acquisitions as a business combination in accordance with ASC 805, "Business Combinations," which requires acquired assets and liabilities (other than tax balances) to be recorded at fair value. Business combinations are included in the financial statements from the respective dates of acquisition. Acquisition related costs are expensed as incurred. | |
Revenue Recognition. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized when the transactions are completed. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. | |
Deposit Transactions and Cash Management. Deposit transactions include services related to retail and commercial deposit products (such as service charges on checking accounts), cash management products and services such as electronic transaction processing (Automated Clearing House and Electronic Data Interchange), account reconciliation services, cash vault services, lockbox processing, and information reporting to large corporate clients. | |
Insurance Commissions. Insurance commissions are derived from the sale of insurance products, including acting as an independent agent to provide life, long-term care, and disability insurance. | |
Trust Services and Investment Management. Trust services and investment management fees include investment management, personal trust, employee benefits, and custodial trust services. | |
Brokerage, Management Fees and Commissions. Brokerage, management fees and commissions include fees for portfolio management, trade commissions, and annuity and mutual fund sales. | |
Statements of Cash Flows. For purposes of these statements, cash and due from banks, federal funds sold, and securities purchased under agreements to resell are considered cash and cash equivalents. Federal funds are usually sold for one-day periods, and securities purchased under agreements to resell are short-term, highly liquid investments. | |
Trading Activities. Securities purchased in connection with underwriting or dealer activities (long positions) are carried at fair market value as trading securities. Gains and losses, both realized and unrealized, on these securities are reflected in capital markets noninterest income. Trading liabilities include securities that FHN has sold to other parties but does not own (short positions). FHN is obligated to purchase securities at a future date to cover the short positions. Assets and liabilities for unsettled trades are recorded on the Consolidated Statements of Condition as “Capital markets receivables” or “Capital markets payables.” Retained interests from securitizations in the form of excess interest, interest-only and principal-only strips from sales and securitizations of first lien mortgages are recognized at fair value as trading securities with gains and losses, both realized and unrealized, recognized in mortgage banking income. Excess interest represents rights to receive interest from serviced assets that exceed contractually specified rates. Principal-only strips are principal cash flow tranches, and interest-only strips are interest cash flow tranches. Cash receipts and payments are classified in investing activities on the Consolidated Statements of Cash Flows based on the purpose for which such financial assets were retained. | |
Investment Securities. Investment securities are reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review includes an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Securities that may be sold prior to maturity and equity securities are classified as securities available-for-sale and are carried at fair value. The unrealized gains and losses on securities available-for-sale, including debt securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity. Venture capital investments were classified as securities available-for-sale and were carried at fair value with unrealized gains and losses recognized in noninterest income. | |
Realized gains and losses for investment securities are determined by the specific identification method and reported in noninterest income. Declines in value judged to be other-than-temporary based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN has the intent to sell, are also determined by the specific identification method, and reported in noninterest income. For impaired debt securities that FHN does not intend to sell and will not be required to sell prior to recovery but for which credit losses exist, the OTTI recognized is separated between the total impairment related to credit losses which is reported in noninterest income, and the impairment related to all other factors which is excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity. | |
National banks chartered by the federal government are, by law, members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank ("FRB"). Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. | |
Securities Purchased under Resale Agreements and Securities Sold under Repurchase Agreements. FHN enters into short-term purchases of securities under agreements to resell which are accounted for as collateralized financings except where FHN does not have an agreement to sell the same or substantially the same securities before maturity at a fixed or determinable price. All of FHN’s securities purchased under agreements to resell are recognized as collateralized financings. Securities delivered under these transactions are delivered to either the dealer custody account at the FRB or to the applicable counterparty. Securities sold under agreements to repurchase are offered to cash management customers as an automated, collateralized investment account. Securities sold are also used by the retail/commercial bank to obtain favorable borrowing rates on its purchased funds. All of FHN's securities sold under agreements to repurchase are secured borrowings. | |
Collateral is valued daily and FHN may require counterparties to deposit additional securities or cash as collateral, or FHN may return cash or securities previously pledged by counterparties, or FHN may be required to post additional securities or cash as collateral, based on the contractual requirements for these transactions. | |
FHN’s capital markets business utilizes securities borrowing arrangements as part of its trading operations. Securities borrowing transactions generally require FHN to deposit cash with the securities lender. The amount of cash advanced is recorded within Securities purchased under agreements to resell in the Consolidated Statements of Condition. These transactions are not considered purchases and the securities borrowed are not recognized by FHN. FHN does not conduct securities lending transactions. | |
Loans Held-for-Sale and Securitization and Residual Interests. Prior to fourth quarter 2008, FHN originated first lien mortgage loans (“the warehouse”) for the purpose of selling them in the secondary market through sales to government sponsored enterprises ("GSEs"), through proprietary securitizations, and to a lesser extent through other whole loan sales. In addition, FHN sold certain of the second lien mortgages and home equity lines of credit (“HELOC”) it produced in the secondary market through securitizations and whole loan sales through third quarter 2007. | |
Loans originated or purchased in which management lacks the intent to hold are included in loans held-for-sale in the Consolidated Statements of Condition. FHN has elected the fair value option on a prospective basis for almost all types of mortgage loans held for sale. Such loans are carried at fair value, with changes in the fair value of closed-end mortgage loans recognized in the mortgage banking noninterest income section of the Consolidated Statements of Income. Changes in the fair value of HELOCs are recognized in mortgage banking income on the Consolidated Statements of Income. For mortgage loans originated for sale for which the fair value option is elected, loan origination fees are recorded by FHN when earned and related direct loan origination costs are recognized when incurred. See Note 25 – Fair Value of Assets and Liabilities for additional information. FHN accounts for all mortgage loans held-for-sale which were originated prior to 2008 and for mortgage loans held-for-sale for which fair value accounting was not elected at the lower of cost or market value (“LOCOM”). | |
Mortgage loans insured by the Federal Housing Administration (“FHA”) and mortgage loans guaranteed by the Veterans Administration (“VA”) were generally securitized through the Government National Mortgage Association (“GNMA”, "Ginnie Mae", or "Ginnie") programs. Generally, conforming conventional loans were securitized through GSEs such as the Federal National Mortgage Association (“FNMA”, "Fannie Mae", or "Fannie") and the Federal Home Loan Mortgage Corporation (“FHLMC”, "Freddie Mac" or "Freddie"). In addition, FHN completed proprietary securitizations of nonconforming first lien and second lien mortgages and HELOC, which do not conform to the requirements for sale or securitization through government agencies. Most of these securitizations are accounted for as sales; the one that does not qualify for sale treatment is accounted for as a consolidated VIE. | |
Loans. Loans are stated at principal amounts outstanding, net of unearned income. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs as well as premiums and discounts are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs are recognized upon early repayment of the loans or charge-off. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. As required by ASC 310, "Receivables", FHN segregates the loan portfolio into segments and then further disaggregates the portfolio into classes for certain disclosures. Commercial loan portfolio segments include commercial, financial, and industrial (“C&I”) and commercial real estate (“CRE”). Commercial classes within C&I include general C&I, loans to mortgage companies, the trust preferred loans (“TRUPs”) (i.e., loans to bank and insurance-related businesses) portfolio and purchased credit impaired ("PCI") loans. Loans to mortgage companies includes commercial lines of credit to qualified mortgage companies exclusively for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors. Commercial classes within commercial real estate include income CRE, residential CRE and PCI loans. Retail loan portfolio segments include consumer real estate, permanent mortgage, and the credit card and other segment. Retail classes include HELOC, real estate (“R/E”) installment and PCI loans within the consumer real estate segment, permanent mortgage (which is both a segment and a class), and credit card and other. | |
Nonaccrual and Past Due Loans. Generally, loans are placed on nonaccrual status if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance, or on a case-by-case basis if FHN continues to receive payments, but there are atypical loan structures or other borrower-specific issues. | |
The accrual status policy for commercial troubled debt restructurings (“TDRs”) follows the same internal policies and procedures as other commercial portfolio loans. | |
Residential real estate secured loans discharged in bankruptcy that have not been reaffirmed by the borrower (“discharged bankruptcies”) are placed on nonaccrual regardless of delinquency status and reported as TDRs. | |
Current second lien residential real estate loans that are junior to first liens that are 90 or more days past due, are a bankruptcy, or a troubled debt restructuring are placed on nonaccrual status. | |
Consumer real estate (HELOC and residential real estate installment loans), if not already on nonaccrual per above situations, are placed on nonaccrual if the loan is 30 or more days delinquent at the time of modification and is also determined to be a TDR. | |
Government guaranteed/insured residential mortgage loans remain on accrual (even if the loan falls into one of the above categories) because the collection of principal and interest is reasonably assured. | |
For commercial and retail loans within each portfolio segment and class that have been placed on nonaccrual status, accrued but uncollected interest is reversed and charged against interest income when the loan is placed on nonaccrual status. Management may elect to continue the accrual of interest when the estimated net realizable value of collateral is sufficient to recover the principal balance and accrued interest. Interest payments received on nonaccrual loans are normally applied to outstanding principal first. Once all principal has been received, additional interest payments are recognized on a cash basis as interest income. | |
Generally, commercial and retail loans within each portfolio segment and class that have been placed on nonaccrual status can be returned to accrual status if all principal and interest is current and FHN expects full repayment of the remaining contractual principal and interest, or the asset becomes well-secured and is in the process of collection. This typically requires that a borrower make payments in accordance with the contractual terms for a sustained period of time (generally for a minimum of six months) before being returned to accrual status. | |
Residential real estate loans discharged through Chapter 7 bankruptcy and not reaffirmed by the borrower are not returned to accrual status. For current second liens that have been placed on nonaccrual because the first lien is 90 or more days past due or is a TDR, the second lien may be returned to accrual upon pay-off or cure of the first lien. | |
Charge-offs. For all commercial and retail loan portfolio segments, all losses of principal are charged to the allowance for loan losses ("ALLL") in the period in which the loan is deemed to be uncollectible. | |
For consumer loans, the timing of a full or partial charge-off generally depends on the loan type and delinquency status. Generally, for the consumer real estate and permanent mortgage portfolio segments, a loan will be either partially or fully charged-off when it becomes 180 days past due. At this time, if the collateral value does not support foreclosure, balances are fully charged-off and other avenues of recovery are pursued. If the collateral value supports foreclosure, the loan is charged-down to net realizable value of the collateral less estimated costs to sell and is placed on nonaccrual status. For residential real estate loans discharged in Chapter 7 bankruptcy and not reaffirmed by the borrower, the fair value of the collateral position is assessed at the time FHN is made aware of the discharge and the loan is charged down to the net realizable value (collateral value less estimated costs to sell). Within the credit card and other portfolio segment, credit cards are normally charged-off upon reaching 180 days past due while other non-real estate consumer loans are charged-off upon reaching 120 days past due. | |
Impaired Loans. Impaired loans include nonaccrual commercial loans greater than $1 million and modified consumer and commercial loans that have been classified as a TDR and are individually measured for impairment under the guidance of ASC 310. See Note 4 – Loans for a discussion of methodologies utilized by FHN to measure impairment. | |
Purchased Credit Impaired Loans. ASC 310-30 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer”, provides guidance for acquired loans that have experienced deterioration of credit quality between origination and the time of acquisition and for which the timely collection of the interest and principal is no longer reasonably assured (“PCI loans”). PCI loans are initially recorded at fair value which is estimated by discounting expected cash flows at acquisition date. The expected cash flows include all contractually expected amounts (including interest) and incorporate an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools is based upon common risk characteristics that include similar credit risk or risk ratings, and one or more predominant risk characteristics. Each PCI pool is accounted for as a single unit. | |
Accretable yield is initially established at acquisition and is the excess of cash flows expected at acquisition over the initial investment in the loan and is recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference is initially established at acquisition and is the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimates expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement result in reversal of any nonaccretable difference (or allowance for loan losses to the extent any has previously been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows result in an increase in the allowance for loan losses through provision expense. | |
FHN does not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that have been pooled and subsequently modified will not be reported as troubled debt restructurings since the pool is the unit of measurement. | |
Allowance for Loan Losses. The ALLL is maintained at a level that management determines is sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL is increased by the provision for loan losses and loan recoveries and is decreased by charged-off loans. The ALLL is determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and is composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous retail and commercial loans. The reserve factors applied to these pools are an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL includes specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management uses analytical models based on loss experience subject to qualitative adjustment to reflect current events, trends, and conditions (including economic considerations and trends) to assess the adequacy of the ALLL as of the end of each reporting period. The nature of the process by which FHN determines the appropriate ALLL requires the exercise of considerable judgment. See Note 5 – Allowance for Loan Losses for a discussion of FHN’s ALLL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. | |
Key components of the estimation process are as follows: (1) commercial loans determined by management to be individually impaired loans are evaluated individually and specific reserves are determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired are segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment are calculated based on historical net charge-offs and are subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflects the reserve rate applied against the balance of loans in the commercial segment of the loan portfolio; (5) retail loans are generally segmented based on loan type; (6) reserve amounts for each retail portfolio segment are calculated using analytical models based on delinquency trends and net loss experience and are subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each retail portfolio segment reflects management’s estimate of probable incurred losses in the retail segment of the loan portfolio. | |
Impairment related to individually impaired loans is measured in accordance with ASC 310-10. For all commercial portfolio segments, commercial TDRs and other individually impaired commercial loans are measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the estimated fair value of the collateral less estimated costs to sell (net realizable value). Impaired loans also include consumer TDRs. With the exception of discharged bankruptcies which are collateral dependent and charged down to net realizable value, impairment of consumer TDRs is measured using a DCF model. For loans measured using the DCF method or by observable market prices, if the recorded investment in the impaired loan exceeds this amount, a specific allowance is established as a component of the ALLL; however, for impaired collateral-dependent loans FHN generally charges off the full difference between the book value and the estimated net realizable value. | |
Future adjustments to the ALLL and methodology may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. | |
Premises and Equipment. Premises and equipment are carried at cost less accumulated depreciation and amortization and include additions that materially extend the useful lives of existing premises and equipment. All other maintenance and repair expenditures are expensed as incurred. Gains and losses on dispositions are reflected in noninterest income and expense, respectively. | |
Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the assets and are recorded as noninterest expense. Leasehold improvements are amortized over the lesser of the lease periods or the estimated useful lives using the straight-line method. Useful lives utilized in determining depreciation for furniture, fixtures and equipment and buildings are three to fifteen and seven to forty-five years, respectively. | |
Real Estate Acquired by Foreclosure. Real estate acquired by foreclosure consists of properties that have been acquired in satisfaction of debt. These properties are carried at the lower of the outstanding loan amount or estimated fair value less estimated costs to sell the real estate. Losses arising at foreclosure are charged to the appropriate valuation allowance. Properties acquired by foreclosure in compliance with HUD servicing guidelines are included in “Real estate acquired by foreclosure” and are carried at the estimated amount of the underlying government insurance or guarantee. On December 31, 2014, FHN had $9.5 million of these foreclosed properties. | |
Required developmental costs associated with foreclosed property under construction are capitalized and included in determining the estimated net realizable value of the property, which is reviewed periodically, and any write-downs are charged against current earnings. | |
Intangible Assets. Intangible assets consist of “Other intangible assets” and “Goodwill.” Other intangible assets represents intangible assets, including customer lists, acquired contracts, covenants not to compete and premium on purchased deposits, which are amortized over their estimated useful lives, except for those assets related to deposit bases that are primarily amortized over 10 years. Management evaluates whether events or circumstances have occurred that indicate the remaining useful life or carrying value of amortizing intangibles should be revised. Goodwill represents the excess of cost over net assets of acquired subsidiaries less identifiable intangible assets. On an annual basis, FHN assesses goodwill for impairment. | |
Derivative Financial Instruments. FHN accounts for derivative financial instruments in accordance with ASC 815 which requires recognition of all derivative instruments on the balance sheet as either an asset or liability measured at fair value through adjustments to either accumulated other comprehensive income within shareholders’ equity or current earnings. Fair value is defined as the price that would be received to sell a derivative asset or paid to transfer a derivative liability in an orderly transaction between market participants on the transaction date. Fair value is determined using available market information and appropriate valuation methodologies. FHN has elected to present its derivative assets and liabilities gross on the Consolidated Statements of Condition. Amounts of collateral posted or received have not been netted with the related derivatives. See Note 23 – Derivatives for discussion on netting of derivatives. | |
FHN prepares written hedge documentation, identifying the risk management objective and designating the derivative instrument as a fair value hedge or cash flow hedge as applicable, or as a free-standing derivative instrument entered into as an economic hedge or to meet customers’ needs. All transactions designated as ASC 815 hedges must be assessed at inception and on an ongoing basis as to the effectiveness of the derivative instrument in offsetting changes in fair value or cash flows of the hedged item. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk are recognized currently in earnings. For a cash flow hedge, changes in the fair value of the derivative instrument, to the extent that it is effective, are recorded in accumulated other comprehensive income and subsequently reclassified to earnings as the hedged transaction impacts net income. Any ineffective portion of a cash flow hedge is recognized currently in earnings. For free-standing derivative instruments, changes in fair values are recognized currently in earnings. See Note 23 – Derivatives for additional information. | |
Cash flows from derivative contracts are reported as operating activities on the Consolidated Statements of Cash Flows. | |
Advertising and Public Relations. Advertising and public relations costs are generally expensed as incurred. | |
Income Taxes. FHN accounts for income taxes using the asset and liability method pursuant to ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets ("DTAs") and liabilities ("DTLs") for the expected future tax consequences of events that have been included in the financial statements. Under this method, FHN’s deferred tax assets and liabilities are determined based on differences between financial statement carrying amounts and the corresponding tax basis of certain assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. | |
Additionally, DTAs are subject to a “more likely than not” test to determine whether the full amount of the DTAs should be realized in the financial statements. FHN evaluates the likelihood of realization of the DTA based on both positive and negative evidence available at the time, including (as appropriate) scheduled reversals of DTLs, projected future taxable income, tax planning strategies, and recent financial performance. If the “more likely than not” test is not met, a valuation allowance must be established against the DTA. In the event FHN determines that DTAs are realizable in the future in excess of their net recorded amount, FHN would make an adjustment to the valuation allowance, which would reduce the provision for income taxes. | |
FHN's ASC 740 policy is to recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. Accrued interest and penalties are included within the related tax asset/liability line in the consolidated balance sheet. | |
FHN and its eligible subsidiaries are included in a consolidated federal income tax return. FHN files separate returns for subsidiaries that are not eligible to be included in a consolidated federal income tax return. Based on the laws of the applicable state where it conducts business operations, FHN either files consolidated, combined, or separate returns. With few exceptions, FHN is no longer subject to U.S. federal or state and local tax examinations by tax authorities for years before 2009. The Internal Revenue Service (“IRS”) recently completed a limited issue focused examination ("LIFE") for the years ending December 31, 2011 and 2010. All proposed adjustments with respect to examinations of federal returns filed for 2011 and prior years have been settled. FHN is currently under audit in several states. | |
Earnings per Share. Earnings per share is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding for each period. Diluted earnings per share in net income periods is computed by dividing net income available to common shareholders by the weighted average number of common shares adjusted to include the number of additional common shares that would have been outstanding if the potential dilutive common shares resulting from restricted shares or units and options granted under FHN’s equity compensation plans and deferred compensation arrangements had been issued. FHN utilizes the treasury stock method in this calculation. Diluted earnings per share does not reflect an adjustment for potentially dilutive shares in periods in which a net loss available to common shareholders exists. | |
Equity Compensation. FHN accounts for its employee stock-based compensation plans using the grant date fair value of an award to determine the expense to be recognized over the life of the award. For awards with service vesting criteria, expense is recognized using the straight-line method over the requisite service period (generally the vesting period) and is adjusted for anticipated forfeitures. For awards vesting based on a performance measure, anticipated performance is projected to determine the number of awards expected to vest, and the corresponding aggregate expense is adjusted to reflect the elapsed portion of the performance period. The fair value of equity awards with cash payout requirements, as well as awards for which fair value cannot be estimated at grant date, is remeasured each reporting period through vesting date. Performance awards with pre-grant date achievement criteria are expensed over the period from the start of the performance period through the end of the service vesting term. Awards are amortized using the nonsubstantive vesting methodology which requires that expense associated with awards having only service vesting criteria that continue vesting after retirement be recognized over a period ending no later than an employee’s retirement eligibility date. | |
Repurchase and Foreclosure Provision. The repurchase and foreclosure provision is the charge to earnings necessary to maintain the liability at a level that reflects management’s best estimate of losses associated with the repurchase of loans previously transferred in whole loans sales or securitizations, or make whole requests as of the balance sheet date. See Note 18 – Contingencies and Other Disclosures for discussion related to FHN’s obligations to repurchase such loans. | |
Legal Costs. Generally, legal costs are expensed as incurred. | |
Contingency Accruals. Contingent liabilities arise in the ordinary course of business, including those related to lawsuits, arbitration, mediation, and other forms of litigation. FHN establishes loss contingency liabilities for matters when loss is both probable and reasonably estimable as prescribed by applicable financial accounting guidance. A liability generally is not established when a loss contingency either is not probable or its amount is not reasonably estimable. If loss for a matter is probable and a range of possible loss outcomes is the best estimate available, accounting guidance generally requires a liability to be established at the low end of the range. Expected recoveries from insurance and indemnification arrangements are recognized if they are considered equally as probable and reasonably estimable as the related loss contingency up to the recognized amount of the estimated loss. Gain contingencies and expected recoveries from insurance and indemnification arrangements in excess of the associated recorded estimated losses are recognized when received. Recognized recoveries are recorded as offsets to the related expense in the Consolidated Statements of Income. The favorable resolution of a gain contingency generally results in the recognition of other income in the Consolidated Statements of Income. | |
Summary of Accounting Changes. Effective January 2014, FHN adopted provisions of FASB ASU 2013-11“Income Taxes: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Generally, ASU 2013-11 requires that an unrecognized tax benefit should reduce a deferred tax asset (“DTA”) that has been established for a net operating loss (“NOL”), a tax credit carryforward, or other similar tax losses. However, if a filer does not have such carryforwards or similar tax losses at the reporting date, the uncertain tax position should be recorded as a liability. If a filer does have a DTA, but is not required by tax law of the applicable jurisdiction to use the DTA to settle additional taxes from the disallowance of a tax position and that is the filer's intent, the uncertain tax position should be recognized as a liability in that situation as well and not netted with the DTA. The assessment of whether a DTA is available is based on the unrecognized tax benefit and DTA that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The adoption of provisions of ASU 2013-11, did not have a material effect on FHN’s statement of condition, results of operations, or cash flows. | |
Effective January 1, 2013, FHN adopted the provisions of FASB Accounting Standards Update ("ASU") 2011-11, “Balance Sheet: Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 creates new disclosure requirements about the nature of an entity’s rights of setoff and related arrangements associated with its financial instruments and derivative instruments. ASU 2011-11 requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the balance sheet as well as instruments and transactions subject to an agreement similar to a master netting arrangement. The scope of ASU 2011-11 includes derivatives, sale and repurchase agreements/reverse sale and repurchase agreements, and securities borrowing and securities lending arrangements. The provisions of ASU 2011-11 are effective for periods beginning on or after January 1, 2013, with retrospective application to all periods presented in the financial statements required. Additionally in January 2013, FASB issued ASU 2013-01, "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities", that narrowed the scope of ASU 2011-11. Based on this amendment, ASU 2011-11 applies to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. Upon adoption of ASU 2011-11, FHN revised its disclosures accordingly. The adoption of the provisions of ASU 2011-11 had no effect on FHN's statement of condition, results of operations, or cash flows. | |
Effective January 1, 2013, FHN adopted the provisions of FASB ASU 2013-02, "Comprehensive Income: Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income." ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in financial statements but modifies interim disclosure requirements such that changes in accumulated other comprehensive income must be disclosed in interim filings. The provisions of ASU 2013-02 are effective for periods beginning after December 15, 2012, with prospective application to transactions or modifications of existing transactions that occur on or after the effective date. Upon adoption of the provisions of ASU 2013-02 on January 1, 2013, FHN revised its financial statements and disclosures accordingly. | |
In July 2013, the FASB issued ASU 2013-10, "Derivatives and Hedging: Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes." ASU 2013-10 provides guidance on the risks that are permitted to be hedged in a fair value or cash flow hedge. The provisions of ASU 2013-10 permit the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes under ASC 815, in addition to U.S. Treasury rates and the London Interbank Offered Rate ("LIBOR"). The amendments also remove the restriction on using different benchmark rates for similar hedges. The provisions of ASU 2013-10 are effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013. FHN may apply the provisions of ASU 2013-10 to future hedging relationships. | |
Effective January 1, 2012, FHN adopted the provisions of FASB ASU 2011-05, “Presentation of Comprehensive Income”. ASU 2011-05 requires that net income and other comprehensive income be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU 2011-05 also provides that regardless of the method used to present comprehensive income, presentation is required on the face of the financial statements of reclassification adjustments for items that are reclassified from other comprehensive income to net income. ASU 2011-05 does not change the current option for entities to present components of other comprehensive income gross or net of the effect of income taxes, provided that such tax effects are presented in the statement in which other comprehensive income is presented or disclosed in the notes to the financial statements. The provisions of ASU 2011-05 are effective for periods beginning after December 15, 2011, with retrospective application to all periods presented in the financial statements required. No transition disclosures are required upon adoption. For interim reporting periods, filers are only required to present total comprehensive income in a single continuous statement or in two consecutive statements. On December 23, 2011, the FASB issued ASU 2011-12, which indefinitely deferred the provisions of ASU 2011-05 that require entities to present reclassification adjustments out of accumulated other comprehensive income by component in both the statement in which net income is presented and the statement in which other comprehensive income is presented (for both interim and annual financial statements). This deferral was superseded by ASU 2013-12. Upon adoption of the provisions of ASU 2011-05 and ASU 2011-12 on January 1, 2012, FHN revised its financial statements and disclosures accordingly. | |
Accounting Changes Issued but Not Currently Effective. In January 2014, the FASB issued ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” ASU 2014-01 permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using a proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense/(benefit). A reporting entity should evaluate whether the conditions have been met to apply the proportional amortization method to an investment in a qualified affordable housing project through a limited liability entity at the time of initial investment on the basis of facts and circumstances that exist at that time. A reporting entity should reevaluate the conditions upon the occurrence of certain specified events. An investment in a qualified affordable housing project through a limited liability entity should be tested for impairment when there are events or changes in circumstances indicating that it is more likely than not that the carrying amount of the investment will not be realized. For those investments in qualified affordable housing projects not accounted for using the proportional amortization method, the investment should be accounted for as an equity method investment or a cost method investment. The decision to apply the proportional amortization method of accounting is an accounting policy decision that should be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments. The provisions of ASU 2014-01 are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014, and will be applied retrospectively to all periods presented. FHN continues to evaluate the effects of ASU 2014-01 on its portfolio of low income housing investments. | |
In January 2014, the FASB issued ASU 2014-04, “Receivables—Troubled Debt Restructurings by Creditors: Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” ASU 2014-04 clarifies that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU 2014-04 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt ASU 2014-04 using either a modified retrospective transition method or a prospective transition method. Under the modified retrospective transition method, an entity should apply ASU 2014-04 by means of a cumulative-effect adjustment to residential consumer mortgage loans and foreclosed residential real estate properties existing as of the beginning of the annual period for which the amendments are effective. FHN will adopt the requirements of ASU 2014-04 prospectively and does not expect it to have a material effect on FHN’s statements of condition, results of operation or cash flows. | |
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 does not change revenue recognition for financial instruments. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This is accomplished through a five-step recognition framework involving 1) the identification of contracts with customers, 2) identification of performance obligations, 3) determination of the transaction price, 4) allocation of the transaction price to the performance obligations and 5) recognition of revenue as performance obligations are satisfied. Additionally, qualitative and quantitative information is required for disclosure regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. Transition to the new requirements may be made by retroactively revising prior financial statements (with certain practical expedients permitted) or by a cumulative effect through retained earnings. If the latter option is selected, additional disclosures are required for comparability. FHN is evaluating the effects of ASU 2014-09 on its revenue recognition practices. | |
In June 2014, the FASB issued ASU 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” ASU 2014-11 makes two changes to accounting for repurchase agreements. First, it requires secured borrowing accounting for repurchase-to-maturity transactions. Second, it requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. ASU 2014-11 also requires additional disclosures for repurchase transactions that are recognized as secured borrowings, including disaggregation by class of collateral, the remaining contractual tenor of the arrangements and the risks inherent in the agreements. Adoption of ASU 2014-11 will only affect FHN’s disclosures as it does not engage in repurchase-to- maturity or repurchase financing transactions. These disclosure revisions are effective for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. | |
In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition in determining expense recognition for the award. Thus, compensation cost is recognized over the requisite service period based on the probability of achievement of the performance condition. Expense is adjusted after the requisite service period for changes in the probability of achievement. ASU 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of ASU 2014-12 will have no effect on FHN. | |
In August 2014, the FASB issued ASU 2014-14, “Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.” ASU 2014-14 requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if 1) the loan has a government guarantee that it not separable from the loan before foreclosure, 2) at the time of foreclosure the creditor has the intent to convey the real estate to the guarantor and make a recoverable claim on the guarantee and 3) at the time of foreclosure any amount of the claim that is based on the fair value of the real estate is fixed. For qualifying foreclosures, the amount of the receivable recognized should be measured based on the amount of the loan balance expected to be recovered from the guarantor. ASU 2014-14 is effective for annual and interim periods beginning after December 15, 2014 and may be adopted through either a prospective only approach or through a reclassification from other real estate owned to other receivable on the effective date. FHN currently classifies foreclosed properties with government guarantees within other real estate owned and plans to adopt ASU 2014-14 prospectively. | |
In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” ASU 2014-15 requires an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. If such events or conditions exist, additional disclosures are required and management should evaluate whether its plans sufficiently alleviate the substantial doubt. ASU 2014-15 is effective for the annual period ending after December 15, 2015 and all interim and annual periods thereafter. The provisions of ASU 2014-15 are not anticipated to affect FHN. | |
Acquisitions_and_Divestitures
Acquisitions and Divestitures | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Acquisitions and Divestitures [Abstract] | |||||||||||
Acquisitions and Divestitures | Note 2 – Acquisitions and Divestitures | ||||||||||
On May 27, 2014, First Tennessee Bank National Association ("FTBNA") entered into an agreement to purchase thirteen bank branches in Middle and East Tennessee. The purchase of the branches closed on October 17, 2014. The fair value of the acquired assets totaled $437.6 million, including $413.4 million in cash, $7.5 million in fixed assets, and $15.7 million of goodwill and intangible assets. FTBNA also assumed $437.2 million of deposits associated with these branches. FTBNA paid a deposit premium of 3.32 percent and acquired an immaterial amount of loans as part of the transaction. FHN’s operating results for 2014 includes the impact of branch activity subsequent to the October 17, 2014 closing date. | |||||||||||
On June 7, 2013, FTBNA acquired substantially all of the assets and liabilities of Mountain National Bank ("MNB") a community bank headquartered in Sevierville, Tennessee from the Federal Deposit Insurance Corporation ("FDIC"), as receiver, pursuant to a purchase and assumption agreement. Prior to the acquisition, MNB operated 12 branches in Sevier and Blount counties in eastern Tennessee. Excluding purchase accounting adjustments, FHN acquired approximately $452 million in assets, including approximately $249 million in loans, and assumed approximately $362 million of MNB deposits. There was no premium associated with the acquired deposits and assets were acquired at a discount of $33 million from book value. FHN did not enter into a loss-sharing agreement with the FDIC associated with the MNB purchase. | |||||||||||
FHN has accounted for these acquisitions as business combinations in accordance with ASC 805, "Business Combinations," which requires acquired assets and liabilities (other than tax balances) to be recorded at fair value. Generally, the fair value for the acquired loans was estimated using a discounted cash flow analysis with significant unobservable inputs (Level 3) including adjustments for expected credit losses, prepayment speeds, current market rates for similar loans, and an adjustment for investor-required yield given product-type and various risk characteristics (refer to Note 4 - Loans for additional information). | |||||||||||
The following schedule details significant assets acquired and liabilities assumed from the FDIC for MNB and estimated purchase accounting/fair value adjustments at June 7, 2013: | |||||||||||
Mountain National Bank | |||||||||||
Purchase Accounting/ | |||||||||||
Acquired from | Fair Value | As recorded | |||||||||
(Dollars in thousands) | FDIC | Adjustments | by FHN | ||||||||
Assets: | |||||||||||
Cash and cash equivalents | $ | 54,872 | $ | - | $ | 54,872 | |||||
Interest-bearing cash | 26,984 | - | 26,984 | ||||||||
Securities available-for-sale | 73,948 | -440 | 73,508 | ||||||||
Loans, net of unearned income | 249,001 | -33,094 | 215,907 | ||||||||
Core deposit intangible | - | 3,200 | 3,200 | ||||||||
Premises and equipment | 10,359 | 3,755 | 14,114 | ||||||||
Real estate acquired by foreclosure | 33,294 | -10,930 | 22,364 | ||||||||
Deferred tax asset | -286 | 3,097 | 2,811 | ||||||||
Other assets | 3,375 | -461 | 2,914 | ||||||||
Total assets acquired | $ | 451,547 | $ | -34,873 | $ | 416,674 | |||||
Liabilities: | |||||||||||
Deposits | $ | 362,098 | $ | 2,000 | $ | 364,098 | |||||
Securities sold under agreements to repurchase | 1,930 | - | 1,930 | ||||||||
Federal Home Loan Bank advances | 50,040 | 5,586 | 55,626 | ||||||||
Other liabilities | 2,547 | - | 2,547 | ||||||||
Total liabilities assumed | 416,615 | 7,586 | 424,201 | ||||||||
Acquired noncontrolling interest | 117 | 57 | 174 | ||||||||
Total liabilities assumed and acquired noncontrolling interest | $ | 416,732 | $ | 7,643 | $ | 424,375 | |||||
Excess of assets acquired over liabilities assumed | $ | 34,815 | |||||||||
Aggregate purchase accounting/fair value adjustments | $ | -42,516 | |||||||||
Goodwill | $ | 7,701 | |||||||||
FHN's operating results for 2014 and 2013 include the operating results of the acquired assets and assumed liabilities of MNB subsequent to the acquisition on June 7, 2013. | |||||||||||
In relation to the branch acquisition and the MNB acquisition FHN recorded $4.0 million and $7.7 million, respectively, in goodwill, representing the excess of the estimated fair value of liabilities assumed over the estimated fair value of the assets acquired (refer to Note 8 Intangible Assets for additional information). Of these amounts, $4.0 million and $4.4 million, respectively, is expected to be deductible for tax purposes. | |||||||||||
On October 21, 2014, FHN entered into an agreement with TrustAtlantic Financial Corporation (“TrustAtlantic Financial”) by which TrustAtlantic Financial will merge into a subsidiary of FHN. TrustAtlantic Financial owns all the capital stock of TrustAtlantic Bank. Trust Atlantic Financial and TrustAtlantic Bank are headquartered in Raleigh, North Carolina. TrustAtlantic Bank has five branches located in North Carolina in the communities of Raleigh, Cary and Greenville. On December 16, 2014 the parties entered into an amendment to the merger agreement. The transaction is expected to close in the first half of 2015, subject to the approval of the shareholders of TrustAtlantic Financial as well as regulatory approvals and other customary conditions to closing. | |||||||||||
In addition to the transactions mentioned above, FHN acquires or divests assets from time to time in transactions that are considered business combinations or divestitures but are not material to FHN individually or in the aggregate. |
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Investment Securities [Abstract] | |||||||||||||||||||
Investment Securities | Note 3 – Investment Securities | ||||||||||||||||||
The following tables summarize FHN’s investment securities on December 31, 2014 and 2013: | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
Securities available-for-sale ("AFS"): | |||||||||||||||||||
U.S. treasuries | $ | 100 | $ | - | $ | - | $ | 100 | |||||||||||
Government agency issued mortgage-backed securities ("MBS") | 716,618 | 35,287 | -740 | 751,165 | |||||||||||||||
Government agency issued collateralized mortgage obligations ("CMO") | 2,615,620 | 22,026 | -26,380 | 2,611,266 | |||||||||||||||
Other U.S. government agencies | 1,755 | 52 | - | 1,807 | |||||||||||||||
States and municipalities | 10,205 | - | - | 10,205 | |||||||||||||||
Equity and other (a) | 182,184 | - | -114 | 182,070 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,526,482 | $ | 57,365 | $ | -27,234 | $ | 3,556,613 | |||||||||||
Securities held-to-maturity ("HTM"): | |||||||||||||||||||
States and municipalities | $ | 4,292 | $ | 1,112 | $ | - | $ | 5,404 | |||||||||||
Total securities held-to-maturity | $ | 4,292 | $ | 1,112 | $ | - | $ | 5,404 | |||||||||||
Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. The remainder is money market and cost method investments. | |||||||||||||||||||
Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
Securities available-for-sale: | |||||||||||||||||||
U.S. treasuries | $ | 39,997 | $ | - | $ | -1 | $ | 39,996 | |||||||||||
Government agency issued MBS | 796,835 | 32,353 | -5,499 | 823,689 | |||||||||||||||
Government agency issued CMO | 2,335,718 | 12,399 | -57,180 | 2,290,937 | |||||||||||||||
Other U.S. government agencies | 2,202 | 124 | - | 2,326 | |||||||||||||||
States and municipalities | 15,155 | - | - | 15,155 | |||||||||||||||
Equity and other (a) | 226,376 | - | -22 | 226,354 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,416,283 | $ | 44,876 | $ | -62,702 | $ | 3,398,457 | |||||||||||
Includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0 million. The remainder is money market, venture capital, and cost method investments. | |||||||||||||||||||
Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||||||||||||||||
The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity securities portfolios on December 31, 2014, are provided below: | |||||||||||||||||||
Held-to-Maturity | Available-for-Sale | ||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Value | Cost | Value | |||||||||||||||
Within 1 year | $ | - | $ | - | $ | 1,755 | $ | 1,807 | |||||||||||
After 1 year; within 5 years | - | - | 1,600 | 1,600 | |||||||||||||||
After 5 years; within 10 years | - | - | - | - | |||||||||||||||
After 10 years | 4,292 | 5,404 | 8,705 | 8,705 | |||||||||||||||
Subtotal | 4,292 | 5,404 | 12,060 | 12,112 | |||||||||||||||
Government agency issued MBS and CMO | - | - | 3,332,238 | 3,362,431 | |||||||||||||||
Equity and other | - | - | 182,184 | 182,070 | |||||||||||||||
Total | $ | 4,292 | $ | 5,404 | $ | 3,526,482 | $ | 3,556,613 | |||||||||||
Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||
The table below provides information on gross gains and gross losses from investment securities for the twelve months ended December 31: | |||||||||||||||||||
Available-for-Sale | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Gross gains on sales of securities | $ | 5,867 | $ | 4,078 | $ | 5,433 | |||||||||||||
Gross (losses) on sales of securities | - | -1,193 | - | ||||||||||||||||
Net gain/(loss) on sales of securities (a) | $ | 5,867 | $ | 2,885 | $ | 5,433 | |||||||||||||
Venture capital investments (b) | -2,995 | - | -4,700 | ||||||||||||||||
Net OTTI recorded (c) | - | -1,125 | -40 | ||||||||||||||||
Total securities gain/(loss), net | $ | 2,872 | $ | 1,760 | $ | 693 | |||||||||||||
Proceeds from sales during 2014 were $9.2 million, inclusive of $1.4 million of equity securities. Proceeds from sales during 2013 and 2012 were $63.8 million and $47.5 million, respectively. | |||||||||||||||||||
Includes losses on sales, write-offs and /or unrealized fair value adjustments related to venture capital investments. | |||||||||||||||||||
OTTI recorded in 2013 and 2012 is related to equity securities. | |||||||||||||||||||
The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of December 31, 2014 and 2013: | |||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(Dollars in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
Government agency issued CMO | $ | 179,661 | $ | -869 | $ | 964,267 | $ | -25,511 | $ | 1,143,928 | $ | -26,380 | |||||||
Government agency issued MBS | 32,141 | -8 | 35,849 | -732 | 67,990 | -740 | |||||||||||||
Total debt securities | 211,802 | -877 | 1,000,116 | -26,243 | 1,211,918 | -27,120 | |||||||||||||
Equity | 967 | -80 | 9 | -34 | 976 | -114 | |||||||||||||
Total temporarily impaired securities | $ | 212,769 | $ | -957 | $ | 1,000,125 | $ | -26,277 | $ | 1,212,894 | $ | -27,234 | |||||||
As of December 31, 2013 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(Dollars in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
Government agency issued CMO | $ | 1,639,254 | $ | -57,117 | $ | 10,010 | $ | -63 | $ | 1,649,264 | $ | -57,180 | |||||||
Government agency issued MBS | 147,792 | -5,499 | - | - | 147,792 | -5,499 | |||||||||||||
U.S. treasuries | 24,997 | -1 | - | - | 24,997 | -1 | |||||||||||||
Total debt securities | 1,812,043 | -62,617 | 10,010 | -63 | 1,822,053 | -62,680 | |||||||||||||
Equity | 43 | -22 | - | - | 43 | -22 | |||||||||||||
Total temporarily impaired securities | $ | 1,812,086 | $ | -62,639 | $ | 10,010 | $ | -63 | $ | 1,822,096 | $ | -62,702 | |||||||
FHN has reviewed investment securities that were in unrealized loss positions in accordance with its accounting policy for OTTI and does not consider them other-than-temporarily impaired. For debt securities with unrealized losses, FHN does not intend to sell them and it is more-likely-than-not that FHN will not be required to sell them prior to recovery. The decline in value is primarily attributable to interest rates and not credit losses. For equity securities, FHN has both the ability and intent to hold these securities for the time necessary to recover the amortized cost. |
Loans
Loans | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||
Loans | Note 4 – Loans | ||||||||||||||||||||||||||||
The following table provides the balance of loans by portfolio segment as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
31-Dec | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial, financial, and industrial | $ | 9,007,286 | $ | 7,923,576 | |||||||||||||||||||||||||
Commercial real estate | 1,277,717 | 1,133,279 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Consumer real estate (a) | 5,048,071 | 5,333,371 | |||||||||||||||||||||||||||
Permanent mortgage (b) | 538,961 | 662,242 | |||||||||||||||||||||||||||
Credit card & other | 358,131 | 336,606 | |||||||||||||||||||||||||||
Loans, net of unearned income | $ | 16,230,166 | $ | 15,389,074 | |||||||||||||||||||||||||
Allowance for loan losses | 232,448 | 253,809 | |||||||||||||||||||||||||||
Total net loans | $ | 15,997,718 | $ | 15,135,265 | |||||||||||||||||||||||||
Balances as of December 31, 2014 and 2013, include $76.8 million and $333.8 million of restricted and secured real estate loans, respectively. See Note 22 - Variable Interest Entities for additional information. | |||||||||||||||||||||||||||||
Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. | |||||||||||||||||||||||||||||
COMPONENTS OF THE LOAN PORTFOLIO | |||||||||||||||||||||||||||||
The loan portfolio is disaggregated into segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally determined based on the initial measurement attribute (i.e., amortized cost or purchased credit-impaired), risk characteristics of the loan, and FHN’s method for monitoring and assessing credit risk. Commercial loan portfolio segments include commercial, financial and industrial ("C&I") and commercial real estate ("CRE"). Commercial classes within C&I include general C&I, loans to mortgage companies, the trust preferred loans ("TRUPS") (i.e. long-term unsecured loans to bank and insurance - related businesses) portfolio and PCI loans. Loans to mortgage companies includes commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower’s sale of those mortgage loans to third party investors. Commercial classes within commercial real estate include income CRE, residential CRE and PCI loans. Retail loan portfolio segments include consumer real estate, permanent mortgage, and the credit card and other portfolio. Retail classes include HELOC, real estate ("R/E") installment and PCI loans within the consumer real estate segment, permanent mortgage (which is both a segment and a class), and credit card and other. | |||||||||||||||||||||||||||||
Concentrations | |||||||||||||||||||||||||||||
FHN has a concentration of residential real estate loans (34 percent of total loans), the majority of which is in the consumer real estate portfolio (31 percent of total loans). Loans to finance and insurance companies total $2.0 billion (22 percent of the C&I portfolio, or 12 percent of the total loans). FHN had loans to mortgage companies totaling $1.2 billion (13 percent of the C&I portfolio, or 7 percent of total loans) as of December 31, 2014. As a result, 35 percent of the C&I category was sensitive to impacts on the financial services industry. | |||||||||||||||||||||||||||||
Restrictions | |||||||||||||||||||||||||||||
On December 31, 2014, $6.1 billion of commercial loans were pledged to secure potential discount window borrowings from the Federal Reserve Bank. Additionally, as of December 31, 2014, FHN pledged all of its held-to-maturity first and second lien mortgages and HELOCs, excluding restricted real estate loans and secured borrowings, to secure potential borrowings from the FHLB-Cincinnati. Restricted and secured borrowings loans secure borrowings associated with both consolidated and nonconsolidated VIEs. See Note 22 – Variable Interest Entities for additional discussion. | |||||||||||||||||||||||||||||
Loan Sales | |||||||||||||||||||||||||||||
In third quarter 2014, FHN executed the sale of certain loans held-for-sale, see Note 25 – Fair Value of Assets & Liabilities for further detail. | |||||||||||||||||||||||||||||
Acquisition | |||||||||||||||||||||||||||||
On June 7, 2013, FHN acquired substantially all of the assets and liabilities of MNB from the FDIC. The acquisition included approximately $249 million of loans. These loans were initially recorded at fair value which incorporates expected credit losses, among other things, in accordance with ASC 805 resulting in no carryover of ALLL from the acquiree. At acquisition, FHN designated certain loans as PCI (see discussion below) with the remaining loans accounted for under ASC 310-20, "Nonrefundable Fees and Other Costs". For loans accounted for under ASC 310-20, the difference between the loans' book value to MNB and the estimated fair value at the time of the acquisition will be accreted back into interest income over the remaining contractual life and the subsequent accounting and reporting will be similar to FHN's originated loan portfolio. | |||||||||||||||||||||||||||||
The following table presents a rollforward of the accretable yield for the years ended December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
Years Ended | |||||||||||||||||||||||||||||
31-Dec | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||
Balance, beginning of period | $ | 13,490 | $ | - | |||||||||||||||||||||||||
Additions | 495 | 6,650 | |||||||||||||||||||||||||||
Accretion | -7,090 | -2,234 | |||||||||||||||||||||||||||
Adjustment for payoffs | -1,575 | -104 | |||||||||||||||||||||||||||
Adjustment for charge-offs | -79 | -4 | |||||||||||||||||||||||||||
Increase in accretable yield (a) | 9,473 | 9,182 | |||||||||||||||||||||||||||
Balance, end of period | $ | 14,714 | $ | 13,490 | |||||||||||||||||||||||||
Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows. | |||||||||||||||||||||||||||||
At December 31, 2014, the ALLL related to PCI loans was $3.2 million compared to $.8 million in 2013. Net charge-offs recognized during 2014 were $.1 million, compared to $.4 million in 2013. The loan loss provision incurred during 2014 and 2013 was $3.3 million and $1.2 million, respectively. The following table reflects the outstanding principal balance and carrying amounts of the PCI loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying value | Unpaid balance | Carrying value | Unpaid balance | |||||||||||||||||||||||||
Commercial, financial and industrial | $ | 5,044 | $ | 5,813 | $ | 7,077 | $ | 9,169 | |||||||||||||||||||||
Commercial real estate | 32,553 | 43,246 | 38,042 | 53,648 | |||||||||||||||||||||||||
Consumer real estate | 598 | 868 | 878 | 1,291 | |||||||||||||||||||||||||
Credit card and other | 10 | 14 | 12 | 21 | |||||||||||||||||||||||||
Total | $ | 38,205 | $ | 49,941 | $ | 46,009 | $ | 64,129 | |||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
The following tables provide information at December 31, 2014 and 2013, by class related to individually impaired loans and consumer TDR's. Recorded investment is defined as the amount of the investment in a loan, before valuation allowance but which does reflect any direct write-down of the investment. For purposes of this disclosure, PCI loans and LOCOM have been excluded. | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||
Impaired loans with no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 9,558 | $ | 10,851 | $ | - | $ | 15,826 | $ | - | |||||||||||||||||||
TRUPS | - | - | - | 813 | - | ||||||||||||||||||||||||
Income CRE | 8,528 | 16,242 | - | 7,671 | - | ||||||||||||||||||||||||
Residential CRE | 1,148 | 1,827 | - | 718 | - | ||||||||||||||||||||||||
Total | $ | 19,234 | $ | 28,920 | $ | - | $ | 25,028 | $ | - | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 13,379 | $ | 32,471 | $ | - | $ | 15,670 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 4,819 | 6,247 | - | 7,855 | - | ||||||||||||||||||||||||
Permanent mortgage (a) | 7,258 | 9,374 | - | 7,798 | - | ||||||||||||||||||||||||
Total | $ | 25,456 | $ | 48,092 | $ | - | $ | 31,323 | $ | - | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 13,295 | $ | 17,644 | $ | 863 | $ | 23,382 | $ | 310 | |||||||||||||||||||
TRUPS | 13,460 | 13,700 | 4,310 | 13,524 | - | ||||||||||||||||||||||||
Income CRE | 8,384 | 9,756 | 650 | 9,944 | 286 | ||||||||||||||||||||||||
Residential CRE | 1,370 | 5,331 | 146 | 5,553 | 190 | ||||||||||||||||||||||||
Total | $ | 36,509 | $ | 46,431 | $ | 5,969 | $ | 52,403 | $ | 786 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 84,169 | $ | 86,252 | $ | 18,942 | $ | 77,306 | $ | 1,799 | |||||||||||||||||||
R/E installment loans | 70,858 | 72,094 | 21,836 | 73,374 | 1,198 | ||||||||||||||||||||||||
Permanent mortgage | 106,201 | 119,421 | 16,627 | 111,528 | 2,823 | ||||||||||||||||||||||||
Credit card & other | 533 | 533 | 254 | 596 | 26 | ||||||||||||||||||||||||
Total | $ | 261,761 | $ | 278,300 | $ | 57,659 | $ | 262,804 | $ | 5,846 | |||||||||||||||||||
Total commercial | $ | 55,743 | $ | 75,351 | $ | 5,969 | $ | 77,431 | $ | 786 | |||||||||||||||||||
Total retail | $ | 287,217 | $ | 326,392 | $ | 57,659 | $ | 294,127 | $ | 5,846 | |||||||||||||||||||
Total impaired loans | $ | 342,960 | $ | 401,743 | $ | 63,628 | $ | 371,558 | $ | 6,632 | |||||||||||||||||||
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||
Impaired loans with no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 26,626 | $ | 28,089 | $ | - | $ | 46,486 | $ | 108 | |||||||||||||||||||
TRUPS | 6,500 | 6,500 | - | 9,563 | - | ||||||||||||||||||||||||
Income CRE | 8,524 | 16,552 | - | 21,304 | 168 | ||||||||||||||||||||||||
Residential CRE | - | - | - | 8,145 | 122 | ||||||||||||||||||||||||
Total | $ | 41,650 | $ | 51,141 | $ | - | $ | 85,498 | $ | 398 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 16,825 | $ | 38,624 | $ | - | $ | 19,418 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 11,009 | 14,062 | - | 11,955 | - | ||||||||||||||||||||||||
Permanent mortgage (a) | 8,460 | 11,943 | - | 8,835 | - | ||||||||||||||||||||||||
Total | $ | 36,294 | $ | 64,629 | $ | - | $ | 40,208 | $ | - | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 16,741 | $ | 23,016 | $ | 1,548 | $ | 18,291 | $ | 185 | |||||||||||||||||||
TRUPS | 33,610 | 33,610 | 12,747 | 37,791 | - | ||||||||||||||||||||||||
Income CRE | 12,374 | 14,094 | 810 | 5,725 | 201 | ||||||||||||||||||||||||
Residential CRE | 6,914 | 12,249 | 790 | 3,148 | 153 | ||||||||||||||||||||||||
Total | $ | 69,639 | $ | 82,969 | $ | 15,895 | $ | 64,955 | $ | 539 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 70,297 | $ | 71,692 | $ | 16,506 | $ | 66,154 | $ | 1,821 | |||||||||||||||||||
R/E installment loans | 72,291 | 73,230 | 27,667 | 72,408 | 1,340 | ||||||||||||||||||||||||
Permanent mortgage | 112,998 | 125,666 | 17,042 | 112,356 | 2,990 | ||||||||||||||||||||||||
Credit card & other | 545 | 545 | 224 | 698 | 29 | ||||||||||||||||||||||||
Total | $ | 256,131 | $ | 271,133 | $ | 61,439 | $ | 251,616 | $ | 6,180 | |||||||||||||||||||
Total commercial | $ | 111,289 | $ | 134,110 | $ | 15,895 | $ | 150,453 | $ | 937 | |||||||||||||||||||
Total retail | $ | 292,425 | $ | 335,762 | $ | 61,439 | $ | 291,824 | $ | 6,180 | |||||||||||||||||||
Total impaired loans | $ | 403,714 | $ | 469,872 | $ | 77,334 | $ | 442,277 | $ | 7,117 | |||||||||||||||||||
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. | |||||||||||||||||||||||||||||
Asset Quality Indicators | |||||||||||||||||||||||||||||
FHN employs a dual grade commercial risk grading methodology to assign an estimate for the probability of default ("PD") and the loss given default ("LGD") for each commercial loan using factors specific to various industry, portfolio, or product segments that result in a rank ordering of risk and the assignment of grades PD 1 to PD 16. Each PD grade corresponds to an estimated one-year default probability percentage; a PD 1 has the lowest expected default probability, and probabilities increase as grades progress down the scale. PD 1 through PD 12 are “pass” grades. PD grades 13-16 correspond to the regulatory-defined categories of special mention (13), substandard (14), doubtful (15), and loss (16). Pass loan grades are required to be reassessed annually or earlier whenever there has been a material change in the financial condition of the borrower or risk characteristics of the relationship. All commercial loans over $1 million and certain commercial loans over $500,000 that are graded 13 or worse are reassessed on a quarterly basis. LGD grades are assigned based on a scale of 1-12 and represent FHN’s expected recovery based on collateral type in the event a loan defaults. See Note 5 - Allowance for Loan Losses for further discussion on the credit grading system. | |||||||||||||||||||||||||||||
The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of December 31, 2014 and 2013. | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Loans to | Allowance | ||||||||||||||||||||||||||||
General | Mortgage | Income | Residential | Percentage | for Loan | ||||||||||||||||||||||||
(Dollars in thousands) | C&I | Companies | TRUPS (a) | CRE | CRE | Total | of Total | Losses | |||||||||||||||||||||
PD Grade: | |||||||||||||||||||||||||||||
1 | $ | 450,465 | $ | - | $ | - | $ | 136 | $ | 60 | $ | 450,661 | 4 | % | $ | 70 | |||||||||||||
2 | 434,945 | - | - | 1,344 | 236 | 436,525 | 4 | 130 | |||||||||||||||||||||
3 | 566,364 | 134,230 | - | 73,812 | 230 | 774,636 | 8 | 201 | |||||||||||||||||||||
4 | 589,341 | 202,287 | - | 45,084 | 232 | 836,944 | 8 | 408 | |||||||||||||||||||||
5 | 821,012 | 247,058 | - | 216,628 | 3,835 | 1,288,533 | 13 | 2,372 | |||||||||||||||||||||
6 | 1,162,551 | 314,671 | - | 175,007 | 5,218 | 1,657,447 | 16 | 5,286 | |||||||||||||||||||||
7 | 1,325,968 | 157,410 | - | 224,226 | 6,669 | 1,714,273 | 17 | 8,517 | |||||||||||||||||||||
8 | 699,334 | 42,730 | - | 200,463 | 7,664 | 950,191 | 9 | 9,307 | |||||||||||||||||||||
9 | 531,979 | 58,997 | - | 117,782 | 834 | 709,592 | 7 | 8,901 | |||||||||||||||||||||
10 | 244,574 | 5,635 | - | 38,253 | 739 | 289,201 | 3 | 4,806 | |||||||||||||||||||||
11 | 287,940 | - | - | 31,712 | 938 | 320,590 | 3 | 6,887 | |||||||||||||||||||||
12 | 117,431 | - | - | 29,453 | 1,038 | 147,922 | 1 | 4,622 | |||||||||||||||||||||
13 | 87,840 | - | 325,882 | 6,116 | 1,166 | 421,004 | 4 | 3,590 | |||||||||||||||||||||
14,15,16 | 157,868 | - | - | 29,579 | 4,204 | 191,651 | 2 | 21,411 | |||||||||||||||||||||
Collectively evaluated for impairment | 7,477,612 | 1,163,018 | 325,882 | 1,189,595 | 33,063 | 10,189,170 | 99 | 76,508 | |||||||||||||||||||||
Individually evaluated for impairment | 22,853 | - | 12,845 | 16,912 | 2,518 | 55,128 | 1 | 5,969 | |||||||||||||||||||||
Purchased credit-impaired loans | 5,076 | - | - | 33,914 | 1,715 | 40,705 | - | 3,108 | |||||||||||||||||||||
Total commercial loans | $ | 7,505,541 | $ | 1,163,018 | $ | 338,727 | $ | 1,240,421 | $ | 37,296 | $ | 10,285,003 | 100 | % | $ | 85,585 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Loans to | Allowance | ||||||||||||||||||||||||||||
General | Mortgage | Income | Residential | Percent of | for Loan | ||||||||||||||||||||||||
(Dollars in thousands) | C&I | Companies | TRUPS (a) | CRE | CRE | Total | Total | Losses | |||||||||||||||||||||
PD Grade: | |||||||||||||||||||||||||||||
1 | $ | 239,141 | $ | - | $ | - | $ | - | $ | - | $ | 239,141 | 3 | % | $ | 85 | |||||||||||||
2 | 216,173 | - | - | 3,363 | - | 219,536 | 2 | 80 | |||||||||||||||||||||
3 | 224,224 | - | - | 739 | 83 | 225,046 | 2 | 206 | |||||||||||||||||||||
4 | 321,423 | - | - | 13,005 | 213 | 334,641 | 4 | 410 | |||||||||||||||||||||
5 | 821,158 | - | - | 42,420 | 225 | 863,803 | 10 | 1,331 | |||||||||||||||||||||
6 | 876,982 | 96,287 | - | 229,098 | 9,989 | 1,212,356 | 13 | 1,643 | |||||||||||||||||||||
7 | 1,135,378 | 172,236 | - | 216,744 | 6,527 | 1,530,885 | 17 | 2,578 | |||||||||||||||||||||
8 | 953,398 | 295,436 | - | 218,619 | 136 | 1,467,589 | 16 | 4,426 | |||||||||||||||||||||
9 | 683,223 | 167,533 | - | 111,260 | 953 | 962,969 | 11 | 8,381 | |||||||||||||||||||||
10 | 402,532 | 48,802 | - | 64,893 | 1,850 | 518,077 | 6 | 7,276 | |||||||||||||||||||||
11 | 387,907 | 10,169 | - | 29,774 | 1,637 | 429,487 | 5 | 9,687 | |||||||||||||||||||||
12 | 129,741 | - | - | 32,796 | 4,333 | 166,870 | 2 | 2,488 | |||||||||||||||||||||
13 | 163,458 | - | 331,940 | 16,666 | 2,886 | 514,950 | 6 | 9,047 | |||||||||||||||||||||
14,15,16 | 154,860 | 146 | 4,103 | 52,879 | 5,551 | 217,539 | 2 | 32,712 | |||||||||||||||||||||
Collectively evaluated for impairment | 6,709,598 | 790,609 | 336,043 | 1,032,256 | 34,383 | 8,902,889 | 99 | 80,350 | |||||||||||||||||||||
Individually evaluated for impairment | 43,367 | - | 36,864 | 20,898 | 6,914 | 108,043 | 1 | 15,895 | |||||||||||||||||||||
Total commercial loans (b) | $ | 6,752,965 | $ | 790,609 | $ | 372,907 | $ | 1,053,154 | $ | 41,297 | $ | 9,010,932 | 100 | % | $ | 96,245 | |||||||||||||
Balances as of December 31, 2014 and 2013, presented net of $26.2 million and $29.4 million, respectively, in lower of cost or market (“LOCOM”) valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade is "13". | |||||||||||||||||||||||||||||
December 31, 2013 table excludes PCI loans amounting to $45.9 million ($.8 million of allowance). | |||||||||||||||||||||||||||||
The retail portfolio is comprised primarily of smaller-balance loans which are very similar in nature in that most are standard products and are backed by residential real estate. Because of the similarities of retail loan-types, FHN is able to utilize the Fair Isaac Corporation (“FICO”) score, among other attributes, to assess the quality of consumer borrowers. FICO scores are refreshed on a quarterly basis in an attempt to reflect the recent risk profile of the borrowers. Accruing delinquency amounts are indicators of asset quality within the credit card and other retail portfolio. | |||||||||||||||||||||||||||||
The following tables reflect period end balances and average FICO scores by origination vintage for the HELOC, real estate installment, and permanent mortgage classes of loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
HELOC | |||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||||||
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed | |||||||||||||||||||||||
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO | |||||||||||||||||||||||
pre-2003 | $ | 56,335 | 708 | 701 | $ | 79,550 | 711 | 701 | |||||||||||||||||||||
2003 | 102,073 | 721 | 710 | 141,215 | 725 | 711 | |||||||||||||||||||||||
2004 | 282,580 | 723 | 709 | 395,323 | 727 | 716 | |||||||||||||||||||||||
2005 | 451,757 | 731 | 722 | 531,839 | 732 | 720 | |||||||||||||||||||||||
2006 | 337,440 | 740 | 727 | 383,366 | 740 | 726 | |||||||||||||||||||||||
2007 | 357,290 | 744 | 729 | 406,299 | 744 | 728 | |||||||||||||||||||||||
2008 | 194,710 | 753 | 747 | 223,110 | 753 | 747 | |||||||||||||||||||||||
2009 | 101,594 | 751 | 743 | 115,863 | 750 | 744 | |||||||||||||||||||||||
2010 | 98,214 | 753 | 749 | 114,393 | 753 | 749 | |||||||||||||||||||||||
2011 | 96,982 | 759 | 753 | 112,595 | 758 | 753 | |||||||||||||||||||||||
2012 | 119,333 | 760 | 758 | 138,373 | 759 | 760 | |||||||||||||||||||||||
2013 | 151,005 | 758 | 760 | 164,665 | 759 | 762 | |||||||||||||||||||||||
2014 | 120,025 | 762 | 762 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,469,338 | 741 | 732 | $ | 2,806,591 | 740 | 730 | |||||||||||||||||||||
R/E Installment Loans | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||||||
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed | |||||||||||||||||||||||
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO | |||||||||||||||||||||||
pre-2003 | $ | 13,909 | 678 | 684 | $ | 23,827 | 681 | 683 | |||||||||||||||||||||
2003 | 49,706 | 714 | 724 | 74,451 | 716 | 725 | |||||||||||||||||||||||
2004 | 41,414 | 699 | 695 | 54,240 | 701 | 700 | |||||||||||||||||||||||
2005 | 123,130 | 715 | 712 | 161,205 | 717 | 711 | |||||||||||||||||||||||
2006 | 134,055 | 713 | 702 | 173,994 | 715 | 701 | |||||||||||||||||||||||
2007 | 199,473 | 723 | 709 | 249,198 | 725 | 709 | |||||||||||||||||||||||
2008 | 64,244 | 720 | 714 | 85,192 | 723 | 720 | |||||||||||||||||||||||
2009 | 28,762 | 736 | 725 | 38,842 | 742 | 737 | |||||||||||||||||||||||
2010 | 101,310 | 747 | 752 | 125,094 | 748 | 755 | |||||||||||||||||||||||
2011 | 278,795 | 760 | 759 | 335,343 | 760 | 760 | |||||||||||||||||||||||
2012 | 608,684 | 764 | 766 | 690,461 | 764 | 764 | |||||||||||||||||||||||
2013 | 475,272 | 756 | 759 | 514,933 | 757 | 754 | |||||||||||||||||||||||
2014 | 459,979 | 756 | 752 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,578,733 | 748 | 747 | $ | 2,526,780 | 746 | 742 | |||||||||||||||||||||
Permanent Mortgage | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||||||
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed | |||||||||||||||||||||||
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO | |||||||||||||||||||||||
pre-2004 | $ | 150,217 | 723 | 721 | $ | 194,369 | 725 | 725 | |||||||||||||||||||||
2004 | 17,349 | 712 | 712 | 22,720 | 713 | 694 | |||||||||||||||||||||||
2005 | 34,033 | 736 | 740 | 40,272 | 737 | 712 | |||||||||||||||||||||||
2006 | 62,053 | 731 | 724 | 79,367 | 730 | 711 | |||||||||||||||||||||||
2007 | 188,868 | 733 | 717 | 223,440 | 734 | 710 | |||||||||||||||||||||||
2008 | 86,441 | 741 | 709 | 102,074 | 741 | 714 | |||||||||||||||||||||||
Total | $ | 538,961 | 730 | 717 | $ | 662,242 | 731 | 714 | |||||||||||||||||||||
Nonaccrual and Past Due Loans | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on December 31, 2014: | |||||||||||||||||||||||||||||
Accruing | Non-Accruing | ||||||||||||||||||||||||||||
30-89 | 90+ | 30-89 | 90+ | Total | |||||||||||||||||||||||||
Days | Days | Total | Days | Days | Non- | Total | |||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Past Due | Accruing | Current | Past Due | Past Due | Accruing | Loans | ||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | $ | 7,477,410 | $ | 3,196 | $ | 218 | $ | $7,480,824 | $ | 636 | $ | 1,726 | $ | 17,279 | $ | $19,641 | $ | $7,500,465 | |||||||||||
Loans to mortgage companies | 1,162,894 | - | - | 1,162,894 | - | - | 124 | 124 | 1,163,018 | ||||||||||||||||||||
TRUPS (a) | 325,882 | - | - | 325,882 | - | - | 12,845 | 12,845 | 338,727 | ||||||||||||||||||||
Purchased credit-impaired loans | 4,180 | 344 | 552 | 5,076 | - | - | - | - | 5,076 | ||||||||||||||||||||
Total commercial (C&I) | 8,970,366 | 3,540 | 770 | 8,974,676 | 636 | 1,726 | 30,248 | 32,610 | 9,007,286 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,190,562 | 1,446 | - | 1,192,008 | 1,495 | 1,963 | 11,041 | 14,499 | 1,206,507 | ||||||||||||||||||||
Residential CRE | 34,541 | 183 | - | 34,724 | - | - | 857 | 857 | 35,581 | ||||||||||||||||||||
Purchased credit-impaired loans | 35,511 | 3 | 115 | 35,629 | - | - | - | - | 35,629 | ||||||||||||||||||||
Total commercial real estate | 1,260,614 | 1,632 | 115 | 1,262,361 | 1,495 | 1,963 | 11,898 | 15,356 | 1,277,717 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,347,361 | 26,738 | 11,093 | 2,385,192 | 66,410 | 6,628 | 11,108 | 84,146 | 2,469,338 | ||||||||||||||||||||
R/E installment loans | 2,524,019 | 11,951 | 5,602 | 2,541,572 | 27,330 | 3,268 | 5,888 | 36,486 | 2,578,058 | ||||||||||||||||||||
Purchased credit-impaired loans | 675 | - | - | 675 | - | - | - | - | 675 | ||||||||||||||||||||
Total consumer real estate | 4,872,055 | 38,689 | 16,695 | 4,927,439 | 93,740 | 9,896 | 16,996 | 120,632 | 5,048,071 | ||||||||||||||||||||
Permanent mortgage | 495,619 | 3,624 | 5,640 | 504,883 | 16,681 | 2,382 | 15,015 | 34,078 | 538,961 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 185,015 | 1,909 | 1,822 | 188,746 | - | - | - | - | 188,746 | ||||||||||||||||||||
Other | 167,272 | 1,137 | 203 | 168,612 | - | - | 763 | 763 | 169,375 | ||||||||||||||||||||
Purchased credit-impaired loans | 10 | - | - | 10 | - | - | - | - | 10 | ||||||||||||||||||||
Total credit card & other | 352,297 | 3,046 | 2,025 | 357,368 | - | - | 763 | 763 | 358,131 | ||||||||||||||||||||
Total loans, net of unearned | $ | 15,950,951 | $ | 50,531 | $ | $25,245 | $ | $16,026,727 | $112,552 | $ | 15,967 | $ | $74,920 | $ | $203,439 | $ | $16,230,166 | ||||||||||||
Total TRUPS includes LOCOM valuation allowance of $26.2 million. | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on December 31, 2013: | |||||||||||||||||||||||||||||
Accruing | Non-Accruing | ||||||||||||||||||||||||||||
30-89 | 90+ | 30-89 | 90+ | Total | |||||||||||||||||||||||||
Days | Days | Total | Days | Days | Non- | Total | |||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Past Due | Accruing | Current | Past Due | Past Due | Accruing | Loans | ||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | $ | 6,701,185 | $ | 8,606 | $ | 425 | $ | 6,710,216 | $ | 19,039 | $ | 3,668 | $ | 20,042 | $ | 42,749 | $ | 6,752,965 | |||||||||||
Loans to mortgage companies | 790,463 | - | - | 790,463 | - | - | 146 | 146 | 790,609 | ||||||||||||||||||||
TRUPS (a) | 336,043 | - | - | 336,043 | - | - | 36,864 | 36,864 | 372,907 | ||||||||||||||||||||
Purchased credit-impaired loans | 5,710 | - | 1,385 | 7,095 | - | - | - | - | 7,095 | ||||||||||||||||||||
Total commercial (C&I) | 7,833,401 | 8,606 | 1,810 | 7,843,817 | 19,039 | 3,668 | 57,052 | 79,759 | 7,923,576 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,030,910 | 5,822 | - | 1,036,732 | 4,339 | 395 | 11,688 | 16,422 | 1,053,154 | ||||||||||||||||||||
Residential CRE | 39,295 | 323 | - | 39,618 | 130 | - | 1,549 | 1,679 | 41,297 | ||||||||||||||||||||
Purchased credit-impaired loans | 34,786 | 2,964 | 1,078 | 38,828 | - | - | - | - | 38,828 | ||||||||||||||||||||
Total commercial real estate | 1,104,991 | 9,109 | 1,078 | 1,115,178 | 4,469 | 395 | 13,237 | 18,101 | 1,133,279 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,688,193 | 25,609 | 14,683 | 2,728,485 | 59,385 | 5,261 | 13,460 | 78,106 | 2,806,591 | ||||||||||||||||||||
R/E installment loans | 2,466,647 | 12,951 | 6,801 | 2,486,399 | 29,221 | 3,120 | 7,151 | 39,492 | 2,525,891 | ||||||||||||||||||||
Purchased credit-impaired loans | 889 | - | - | 889 | - | - | - | - | 889 | ||||||||||||||||||||
Total consumer real estate | 5,155,729 | 38,560 | 21,484 | 5,215,773 | 88,606 | 8,381 | 20,611 | 117,598 | 5,333,371 | ||||||||||||||||||||
Permanent mortgage | 606,707 | 11,235 | 6,129 | 624,071 | 14,868 | 952 | 22,351 | 38,171 | 662,242 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 182,798 | 1,792 | 1,369 | 185,959 | - | - | - | - | 185,959 | ||||||||||||||||||||
Other | 147,846 | 996 | 394 | 149,236 | 1,397 | - | - | 1,397 | 150,633 | ||||||||||||||||||||
Purchased credit-impaired loans | 14 | - | - | 14 | - | - | - | - | 14 | ||||||||||||||||||||
Total credit card & other | 330,658 | 2,788 | 1,763 | 335,209 | 1,397 | - | - | 1,397 | 336,606 | ||||||||||||||||||||
Total loans, net of unearned | $ | 15,031,486 | $ | 70,298 | $ | 32,264 | $ | 15,134,048 | $ | 128,379 | $ | 13,396 | $ | 113,251 | $ | 255,026 | $ | 15,389,074 | |||||||||||
Total TRUPS includes LOCOM valuation allowance of $29.4 million. | |||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||
As part of FHN’s ongoing risk management practices, FHN attempts to work with borrowers when necessary to extend or modify loan terms to better align with their current ability to repay. Extensions and modifications to loans are made in accordance with internal policies and guidelines which conform to regulatory guidance. Each occurrence is unique to the borrower and is evaluated separately. FHN considers regulatory guidelines when restructuring loans to ensure that prudent lending practices are followed. As such, qualification criteria and payment terms consider the borrower’s current and prospective ability to comply with the modified terms of the loan. | |||||||||||||||||||||||||||||
A modification is classified as a TDR if the borrower is experiencing financial difficulty and it is determined that FHN has granted a concession to the borrower. FHN may determine that a borrower is experiencing financial difficulty if the borrower is currently in default on any of its debt, or if it is probable that a borrower may default in the foreseeable future. Many aspects of a borrower’s financial situation are assessed when determining whether they are experiencing financial difficulty, particularly as it relates to commercial borrowers due to the complex nature of loan structures, business/industry risk, and borrower/guarantor structures. Concessions could include extension of the maturity date, reductions of the interest rate (which may make the rate lower than current market for a new loan with similar risk), reduction or forgiveness of accrued interest, or principal forgiveness. When evaluating whether a concession has been granted, FHN also considers whether the borrower has provided additional collateral or guarantors, among other things, and whether such additions adequately compensate FHN for the restructured terms. The assessments of whether a borrower is experiencing (or is likely to experience) financial difficulty and whether a concession has been granted is subjective in nature and management’s judgment is required when determining whether a modification is classified as a TDR. | |||||||||||||||||||||||||||||
For all classes within the commercial portfolio segment, TDRs are typically modified through forbearance agreements (generally 6 to 12 months). Forbearance agreements could include reduced interest rates, reduced payments, release of guarantor, or entering into short sale agreements. FHN’s proprietary modification programs for consumer loans are generally structured using parameters of U.S. government-sponsored programs such as Home Affordable Modification Program (“HAMP”). Within the HELOC and R/E installment loans classes of the consumer portfolio segment, TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 1 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt ratio. Permanent mortgage TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 2 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt ratio. After 5 years the interest rate steps up 1 percent every year thereafter until it reaches the Federal Home Loan Mortgage Corporation Weekly Survey Rate cap. Contractual maturities may be extended to 40 years on permanent mortgages and to 30 years for consumer real estate loans. Within the credit card class of the consumer portfolio segment, TDRs are typically modified through either a short-term credit card hardship program or a longer-term credit card workout program. In the credit card hardship program, borrowers may be granted rate and payment reductions for 6 months to 1 year. In the credit card workout program, customers are granted a rate reduction to 0 percent and term extensions for up to 5 years to pay off the remaining balance. | |||||||||||||||||||||||||||||
Despite the absence of a loan modification, the discharge of personal liability through bankruptcy proceedings is considered a concession and as a result, FHN classifies all non-reaffirmed residential real estate loans after bankruptcy as nonaccruing TDRs. | |||||||||||||||||||||||||||||
On December 31, 2014 and 2013, FHN had $331.3 million and $352.3 million portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $59.0 million and $64.6 million, or 18 percent as of December 31, 2014, and 18 percent as of December 31, 2013. Additionally, $80.1 million and $135.6 million of loans held-for-sale as of December 31, 2014 and 2013, respectively were classified as TDRs. | |||||||||||||||||||||||||||||
The following table reflects portfolio loans that were classified as TDRs during the years ended December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||
(Dollars in thousands) | Number | Recorded Investment | Recorded Investment | Number | Recorded Investment | Recorded Investment | |||||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | 4 | $ | 1,767 | $ | 1,492 | 13 | $ | 17,968 | $ | 17,784 | |||||||||||||||||||
Total commercial (C&I) | 4 | 1,767 | 1,492 | 13 | 17,968 | 17,784 | |||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 2 | 421 | 421 | 5 | 4,221 | 4,187 | |||||||||||||||||||||||
Residential CRE | 1 | 976 | 960 | - | - | - | |||||||||||||||||||||||
Total commercial real estate | 3 | 1,397 | 1,381 | 5 | 4,221 | 4,187 | |||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 309 | 27,078 | 27,514 | 354 | 26,606 | 26,224 | |||||||||||||||||||||||
R/E installment loans | 151 | 10,050 | 9,958 | 426 | 30,400 | 30,104 | |||||||||||||||||||||||
Total consumer real estate | 460 | 37,128 | 37,472 | 780 | 57,006 | 56,328 | |||||||||||||||||||||||
Permanent mortgage | 34 | 9,362 | 8,879 | 49 | 18,716 | 19,184 | |||||||||||||||||||||||
Credit card & other | 64 | 327 | 315 | 50 | 233 | 221 | |||||||||||||||||||||||
Total troubled debt restructurings | 565 | $ | 49,981 | $ | 49,539 | 897 | $ | 98,144 | $ | 97,704 | |||||||||||||||||||
The following table presents TDRs which re-defaulted during 2014 and 2013, and as to which the modification occurred 12 months or less prior to the re-default. Financing receivables that became classified as TDRs within the previous 12 months and for which there was a payment default during the period are calculated by first identifying TDRs that defaulted during the period and then determining whether they were modified within the 12 months prior to the default. For purposes of this disclosure, FHN generally defines payment default as 30 or more plus days past due. | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
(Dollars in thousands) | Number | Investment | Number | Investment | |||||||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | 6 | $ | 869 | 11 | $ | 6,705 | |||||||||||||||||||||||
Total commercial (C&I) | 6 | 869 | 11 | 6,705 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 4 | 3,086 | 4 | 1,548 | |||||||||||||||||||||||||
Residential CRE | - | - | 1 | 33 | |||||||||||||||||||||||||
Total commercial real estate | 4 | 3,086 | 5 | 1,581 | |||||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 7 | 485 | 13 | 604 | |||||||||||||||||||||||||
R/E installment loans | 9 | 530 | 8 | 428 | |||||||||||||||||||||||||
Total consumer real estate | 16 | 1,015 | 21 | 1,032 | |||||||||||||||||||||||||
Permanent mortgage | 3 | 1,128 | 17 | 7,832 | |||||||||||||||||||||||||
Credit card & other | 2 | 4 | 17 | 65 | |||||||||||||||||||||||||
Total troubled debt restructurings | 31 | $ | 6,102 | 71 | $ | 17,215 | |||||||||||||||||||||||
The determination of whether a TDR is placed on nonaccrual status generally follows the same internal policies and procedures as other portfolio loans. However, FHN will typically place a consumer real estate loan on nonaccrual status if it is 30 or more days delinquent upon modification into a TDR. For commercial loans, nonaccrual TDRs that are reasonably assured of repayment according to their modified terms may be returned to accrual status by FHN upon a detailed credit evaluation of the borrower’s financial condition and prospects for repayment under the revised terms. For consumer loans, FHN’s evaluation supporting the decision to return a modified loan to accrual status includes consideration of the borrower’s sustained historical repayment performance for a reasonable period prior to the date on which the loan is returned to accrual status, which is generally a minimum of six months. FHN may also consider a borrower’s sustained historical repayment performance for a reasonable time prior to the restructuring in assessing whether the borrower can meet the restructured terms, as it may indicate that the borrower is capable of servicing the level of debt under the modified terms. Otherwise, FHN will continue to classify restructured loans as nonaccrual. Consistent with regulatory guidance, upon sustained performance and classification as a TDR over FHN’s year-end, the loan will be removed from TDR status as long as the modified terms were market-based at the time of modification. |
Allowance
Allowance | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Loans And Leases Receivable Allowance [Abstract] | |||||||||||||||
Allowance | Note 5 - Allowance for Loan Losses | ||||||||||||||
The ALLL includes the following components: reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous retail loans, both determined in accordance with ASC 450-20-50. The reserve factors applied to these pools are an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics and are subject to qualitative adjustments by management to reflect current events, trends, and conditions (including economic considerations and trends). The pace of the economic recovery, performance of the housing market, unemployment levels, labor participation rate, the regulatory environment, regulatory guidance, and both positive and negative portfolio segment-specific trends, are examples of additional factors considered by management in determining the ALLL. Additionally, management considers the inherent uncertainty of quantitative models that are driven by historical loss data. Management evaluates the periods of historical losses that are the basis for the loss rates used in the quantitative models and selects historical loss periods that are believed to be the most reflective of losses inherent in the loan portfolio as of the balance sheet date. Management also periodically reviews analysis of the loss emergence period which is the amount of time it takes for a loss to be confirmed (initial charge-off) after a loss event has occurred. FHN performs extensive studies as it relates to the historical loss periods used in the model and the loss emergence period and model assumptions are adjusted accordingly. | |||||||||||||||
The ALLL also includes reserves determined in accordance with ASC 310-10-35 for loans determined by management to be individually impaired and an allowance associated with PCI loans. | |||||||||||||||
Commercial | |||||||||||||||
For commercial loans, reserves are established using historical net loss factors by grade level, loan product, and business segment. An assessment of the quality of individual commercial loans is made utilizing credit grades assigned internally based on a dual grading system which estimates both the PD and loss severity in the event of default. PD grades range from 1-16 while estimated loss severities, or LGD grades, range from 1-12. This credit grading system is intended to identify and measure the credit quality of the loan portfolio by analyzing the migration of loans between grading categories. It is also integral to the estimation methodology utilized in determining the allowance for loan losses since an allowance is established for pools of commercial loans based on the credit grade assigned. The appropriate relationship team performs the process of categorizing commercial loans into the appropriate credit grades, initially as a component of the approval of the loan, and subsequently throughout the life of the loan as part of the servicing regimen. The proper loan grade for larger exposures is confirmed by a senior credit officer in the approval process. To determine the most appropriate credit grade for each loan, the credit risk grading system employs scorecards for particular categories of loans that consist of a number of objective and subjective measures that are weighted in a manner that produces a rank ordering of risk within pass-graded credits. Loan grading discipline is regularly reviewed by Credit Risk Assurance to determine if the process continues to result in accurate loan grading across the portfolio. FHN may utilize availability of guarantors/sponsors to support lending decisions during the credit underwriting process and when determining the assignment of internal loan grades. | |||||||||||||||
Retail | |||||||||||||||
The ALLL for smaller-balance homogenous retail loans is determined based on pools of similar loan types that have similar credit risk characteristics. FHN manages retail loan credit risk on a class basis. Reserves by portfolio are determined using segmented roll-rate models that incorporate various factors including historical delinquency trends, experienced loss frequencies, and experienced loss severities. Generally, reserves for retail loans reflect inherent losses in the portfolio that are expected to be recognized over the following twelve months. | |||||||||||||||
Individually Impaired | |||||||||||||||
Generally, classified nonaccrual commercial loans over $1 million and all commercial and consumer loans classified as TDRs are deemed to be impaired and are individually assessed for impairment measurement in accordance with ASC 310-10-35. For all commercial portfolio segments, TDRs and other individually impaired commercial loans are measured based on the present value of expected future payments discounted at the loan’s effective interest rate (the "DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value. For loans measured using the DCF method or by observable market prices, if the recorded investment in the impaired loan exceeds this amount, a specific allowance is established as a component of the ALLL until such time as a loss is expected and recognized; for impaired collateral-dependent loans, FHN will charge off the full difference between the book value and the best estimate of net realizable value. | |||||||||||||||
Generally, the allowance for TDRs in all consumer portfolio segments is determined by estimating the expected future cash flows using the modified interest rate (if an interest rate concession), incorporating payoff and net charge-off rates specific to the TDRs within the portfolio segment being assessed, and discounted using the pre-modification interest rate. The discount rates of variable rate TDRs are adjusted to reflect changes in the interest rate index to which the rates are tied. The discounted cash flows are then compared to the outstanding principal balance in order to determine required reserves. Residential real estate loans discharged through bankruptcy are collateral-dependent and are charged down to net realizable value. | |||||||||||||||
The following table provides a rollforward of the allowance for loan losses by portfolio segment for December 31, 2014, 2013, and 2012: | |||||||||||||||
Commercial | Consumer | Permanent | Credit Card | ||||||||||||
(Dollars in thousands) | C&I | Real Estate | Real Estate | Mortgage | and Other | Total | |||||||||
Balance as of January 1, 2012 | $ | 130,413 | $ | 55,586 | 165,077 | $ | 26,194 | $ | 7,081 | $ | 384,351 | ||||
Charge-offs (a) | -30,887 | -19,977 | -147,918 | -13,604 | -12,624 | -225,010 | |||||||||
Recoveries | 11,151 | 4,475 | 17,770 | 3,024 | 3,202 | 39,622 | |||||||||
Provision(b) | -14,486 | -20,087 | 94,020 | 9,314 | 9,239 | 78,000 | |||||||||
Balance as of December 31, 2012 | 96,191 | 19,997 | 128,949 | 24,928 | 6,898 | 276,963 | |||||||||
Allowance - individually evaluated for impairment | 17,799 | 156 | 35,289 | 21,713 | 203 | 75,160 | |||||||||
Allowance - collectively evaluated for impairment | 78,392 | 19,841 | 93,660 | 3,215 | 6,695 | 201,803 | |||||||||
Loans, net of unearned as of December 31, 2012: | |||||||||||||||
Individually evaluated for impairment | 123,636 | 49,517 | 160,000 | 120,924 | 818 | 454,895 | |||||||||
Collectively evaluated for impairment | 8,673,320 | 1,118,718 | 5,528,703 | 644,659 | 288,287 | 16,253,687 | |||||||||
Total loans, net of unearned | $ | 8,796,956 | $ | 1,168,235 | $ | 5,688,703 | $ | 765,583 | $ | 289,105 | $ | 16,708,582 | |||
Balance as of January 1, 2013 | $ | 96,191 | $ | 19,997 | $ | 128,949 | $ | 24,928 | $ | 6,898 | $ | 276,963 | |||
Charge-offs | -22,936 | -3,502 | -73,642 | -9,934 | -11,404 | -121,418 | |||||||||
Recoveries | 12,487 | 4,275 | 21,360 | 2,473 | 2,669 | 43,264 | |||||||||
Provision | 704 | -10,167 | 50,118 | 5,024 | 9,321 | 55,000 | |||||||||
Balance as of December 31, 2013 | 86,446 | 10,603 | 126,785 | 22,491 | 7,484 | 253,809 | |||||||||
Allowance - individually evaluated for impairment | 14,295 | 1,600 | 44,173 | 17,042 | 224 | 77,334 | |||||||||
Allowance - collectively evaluated for impairment | 72,132 | 8,218 | 82,601 | 5,449 | 7,258 | 175,658 | |||||||||
Allowance - purchase credit impaired loans | 19 | 785 | 11 | - | 2 | 817 | |||||||||
Loans, net of unearned as of December 31, 2013: | |||||||||||||||
Individually evaluated for impairment | 80,231 | 27,812 | 170,422 | 121,458 | 545 | 400,468 | |||||||||
Collectively evaluated for impairment | 7,836,250 | 1,066,639 | 5,162,060 | 540,784 | 336,047 | 14,941,780 | |||||||||
Purchased credit-impaired loans | 7,095 | 38,828 | 889 | - | 14 | 46,826 | |||||||||
Total loans, net of unearned | $ | 7,923,576 | $ | 1,133,279 | $ | 5,333,371 | $ | 662,242 | $ | 336,606 | $ | 15,389,074 | |||
Balance as of January 1, 2014 | $ | 86,446 | $ | 10,603 | $ | 126,785 | $ | 22,491 | $ | 7,484 | $ | 253,809 | |||
Charge-offs | -20,492 | -3,741 | -45,391 | -5,891 | -14,931 | -90,446 | |||||||||
Recoveries | 9,666 | 4,150 | 22,824 | 2,314 | 3,131 | 42,085 | |||||||||
Provision | -8,609 | 7,562 | 8,793 | 208 | 19,046 | 27,000 | |||||||||
Balance as of December 31, 2014 | 67,011 | 18,574 | 113,011 | 19,122 | 14,730 | 232,448 | |||||||||
Allowance - individually evaluated for impairment | 5,173 | 796 | 40,778 | 16,627 | 254 | 63,628 | |||||||||
Allowance - collectively evaluated for impairment | 61,806 | 14,702 | 72,156 | 2,495 | 14,476 | 165,635 | |||||||||
Allowance - purchased credit-impaired loans | 32 | 3,076 | 77 | - | - | 3,185 | |||||||||
Loans, net of unearned as of December 31, 2014: | |||||||||||||||
Individually evaluated for impairment | 35,698 | 19,430 | 173,225 | 113,459 | 533 | 342,345 | |||||||||
Collectively evaluated for impairment | 8,966,512 | 1,222,658 | 4,874,171 | 425,502 | 357,588 | 15,846,431 | |||||||||
Purchased credit-impaired loans | 5,076 | 35,629 | 675 | - | 10 | 41,390 | |||||||||
Total loans, net of unearned | $ | 9,007,286 | $ | 1,277,717 | $ | 5,048,071 | $ | 538,961 | $ | 358,131 | $ | 16,230,166 | |||
2012 includes approximately $33 million of charge-offs associated with discharged bankruptcies, largely included in the consumer real estate portfolio segment. | |||||||||||||||
2012 includes approximately $23 million of loan loss provision related to discharged bankruptcies. | |||||||||||||||
Premises_Equipment_And_Leases
Premises, Equipment And Leases | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property Plant And Equipment [Abstract] | ||||||||||
Premises, Equipment And Leases [Text Block] | Note 6 – Premises, Equipment and Leases | |||||||||
Premises and equipment on December 31 are summarized below: | ||||||||||
(Dollars in thousands) | 2014 | 2013 | ||||||||
Land | $ | 76,667 | $ | 75,593 | ||||||
Buildings | 360,133 | 354,070 | ||||||||
Leasehold improvements | 32,404 | 38,303 | ||||||||
Furniture, fixtures, and equipment | 201,443 | 202,102 | ||||||||
Premises and equipment, at cost | 670,647 | 670,068 | ||||||||
Less accumulated depreciation and amortization | 367,651 | 364,824 | ||||||||
Premises and equipment, net | $ | 302,996 | $ | 305,244 | ||||||
FHN is obligated under a number of noncancelable operating leases for premises with terms up to 30 years, which may include the payment of taxes, insurance and maintenance costs. Operating leases for equipment are not material. | ||||||||||
Minimum future lease payments for noncancelable operating leases, primarily on premises, on December 31, 2014 are shown below: | ||||||||||
(Dollars in thousands) | ||||||||||
2015 | $ | 15,585 | ||||||||
2016 | 13,835 | |||||||||
2017 | 12,629 | |||||||||
2018 | 10,917 | |||||||||
2019 | 8,790 | |||||||||
2020 and after | 27,112 | |||||||||
Total minimum lease payments | $ | 88,868 | ||||||||
Payments required under capital leases are not material. | ||||||||||
Aggregate minimum income under sublease agreements for these periods is not material. | ||||||||||
Rent expense incurred under all operating lease obligations for the years ended December 31 is as follows: | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||
Rent expense, gross | $ | 20,123 | $ | 19,445 | $ | 23,109 | ||||
Sublease income | -213 | -1,974 | -3,365 | |||||||
Rent expense, net | $ | 19,910 | $ | 17,471 | $ | 19,744 |
Mortgage_Servicing_Rights
Mortgage Servicing Rights | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Mortgage Servicing Rights [Abstract] | |||||||||||||
Mortgage Servicing Rights | Note 7 – Mortgage Servicing Rights | ||||||||||||
FHN recognizes all classes of mortgage servicing rights (“MSR”) at fair value. Classes of MSR are established based on market inputs used to determine the fair value of the servicing asset and FHN’s risk management practices. See Note 25 – Fair Value of Assets & Liabilities, the “Determination of Fair Value” section for a discussion of FHN’s MSR valuation methodology. In third quarter 2013, FHN agreed to sell substantially all remaining legacy mortgage servicing which resulted in de-recognition of substantially all first lien MSR by the end of first quarter 2014. Accordingly the rollforward of MSR is presented for 2013 only. See Note 23 – Derivatives for a discussion of how FHN hedged the fair value of MSR prior to signing the definitive sales agreement. The balance of MSR included on the Consolidated Statements of Condition represented the rights to service approximately $10 billion of mortgage loans on December 31, 2013. | |||||||||||||
Following is a summary of changes in capitalized MSR as of December 31, 2013: | |||||||||||||
(Dollars in thousands) | First Liens | Second Liens | HELOC | Total | |||||||||
Fair value on January 1, 2013 | $ | 111,314 | $ | 196 | $ | 2,801 | $ | 114,311 | |||||
Reductions due to sales of MSRs | -39,633 | - | - | -39,633 | |||||||||
Reductions due to loan payments | -20,938 | -80 | -554 | -21,572 | |||||||||
Reductions due to exercise of cleanup calls | -495 | - | - | -495 | |||||||||
Changes in fair value due to: | |||||||||||||
Changes in valuation model inputs or assumptions | 20,184 | - | - | 20,184 | |||||||||
Other changes in fair value | -91 | 45 | 44 | -2 | |||||||||
Fair value on December 31, 2013 | $ | 70,341 | $ | 161 | $ | 2,291 | $ | 72,793 | |||||
The ending balance of MSR as of December 31, 2014 was $2.5 million. During 2014, FHN sold $70.2 million of first lien MSR. In 2013, MSR declined $41.5 million, primarily due to the transfer of servicing associated with the MSR sales, which more than offset a $20.1 million increase in value reflecting higher interest rates and the terms of the servicing sale agreement. The remaining decline in MSR was attributable to natural run-off. For the year ended December 31, 2014, servicing, late, and other ancillary fees recognized within mortgage banking income were $21.1 million and primarily represent previously unrecognized servicing fees in conjunction with servicing sales. Servicing, late, and other ancillary fees recognized within mortgage banking income were $41.9 million and $58.9 million for the years ended December 31, 2013 and 2012, respectively. Servicing, late, and other ancillary fees recognized within other income and commissions were $1.7 million and $2.0 million for the years ended December 31, 2013 and 2012, respectively. During 2013, FHN received annual servicing fees approximating .31 percent of the outstanding balance of underlying single-family residential mortgage loans and .34 percent inclusive of income related to excess interest. |
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||
Intangible Assets | Note 8 – Intangible Assets | ||||||||||||||||||
The following is a summary of intangible assets, net of accumulated amortization, included in the Consolidated Statements of Condition: | |||||||||||||||||||
(Dollars in thousands) | Goodwill | Other Intangible Assets (a) | |||||||||||||||||
31-Dec-11 | $ | 133,659 | $ | 26,243 | |||||||||||||||
Amortization expense | - | -3,910 | |||||||||||||||||
Additions | 583 | 367 | |||||||||||||||||
December 31, 2012 | $ | 134,242 | $ | 22,700 | |||||||||||||||
Amortization expense | - | -3,912 | |||||||||||||||||
Additions (b) | 7,701 | 3,200 | |||||||||||||||||
December 31, 2013 | $ | 141,943 | $ | 21,988 | |||||||||||||||
Amortization expense | - | -4,170 | |||||||||||||||||
Additions (b) | 3,989 | 11,700 | |||||||||||||||||
December 31, 2014 | $ | 145,932 | $ | 29,518 | |||||||||||||||
Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. | |||||||||||||||||||
See Note 2 - Acquisitions & Divestures for further details regarding goodwill related to acquisitions. | |||||||||||||||||||
The gross carrying amount of other intangible assets subject to amortization is $70.3 million on December 31, 2014, net of $40.8 million of accumulated amortization. Estimated aggregate amortization expense is expected to be $5.2 million, $5.0 million, $4.7 million, $4.5 million, and $4.2 million for the twelve-month periods of 2015, 2016, 2017, 2018, and 2019, respectively. | |||||||||||||||||||
The following is a summary of gross goodwill and accumulated impairment losses and write-offs detailed by reportable segments included in the Consolidated Statements of Condition through December 31, 2014. Gross goodwill, accumulated impairments, and accumulated divestiture related write-offs were determined beginning on January 1, 2002, when a change in accounting requirements resulted in goodwill being assessed for impairment rather than being amortized. | |||||||||||||||||||
Regional | Capital | ||||||||||||||||||
(Dollars in thousands) | Non-Strategic | Banking | Markets | Total | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 97,421 | $ | 333,654 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-11 | $ | - | $ | 36,238 | $ | 97,421 | $ | 133,659 | |||||||||||
Additions | - | - | 583 | 583 | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2012 | - | - | 583 | 583 | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 98,004 | $ | 334,237 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-12 | $ | - | $ | 36,238 | $ | 98,004 | $ | 134,242 | |||||||||||
Additions | - | 7,701 | - | 7,701 | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2013 | - | 7,701 | - | 7,701 | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 43,939 | $ | 98,004 | $ | 341,938 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-13 | $ | - | $ | 43,939 | $ | 98,004 | $ | 141,943 | |||||||||||
Additions | - | 3,989 | - | 3,989 | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2014 | - | 3,989 | - | 3,989 | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 47,928 | $ | 98,004 | $ | 345,927 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-14 | $ | - | $ | 47,928 | $ | 98,004 | $ | 145,932 |
Time_Depoist_Maturities
Time Depoist Maturities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Maturities Of Time Deposits [Abstract] | ||||||||
Time Deposit Maturities [Text Block] | Note 9 – Time Deposit Maturities | |||||||
Following is a table of maturities for time deposits outstanding on December 31, 2014, which include Certificates of deposit under $100,000, Other time, and Certificates of deposit $100,000 and more. Certificates of deposit $100,000 and more totaled $.4 billion on December 31, 2014. Time deposits are included in Interest-bearing deposits on the Consolidated Statements of Condition. | ||||||||
(Dollars in thousands) | ||||||||
2015 | $ | 860,822 | ||||||
2016 | 137,356 | |||||||
2017 | 98,508 | |||||||
2018 | 82,457 | |||||||
2019 | 52,733 | |||||||
2020 and after | 45,062 | |||||||
Total | $ | 1,276,938 |
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Short Term Borrowings [Abstract] | ||||||||||||||||||
Short-Term Borrowings [Text Block] | Note 10 – Short-term Borrowings | |||||||||||||||||
Short-term borrowings include federal funds purchased and securities sold under agreements to repurchase, trading liabilities, and other borrowed funds. | ||||||||||||||||||
Federal funds purchased and securities sold under agreements to repurchase generally have maturities of less than 90 days. Trading liabilities, which represent short positions in securities, are generally held for less than 90 days. Other short-term borrowings have original maturities of one year or less. On December 31, 2014, capital markets trading securities with a fair value of $172.9 million were pledged to secure other short-term borrowings. | ||||||||||||||||||
The detail of these borrowings for the years 2014, 2013 and 2012 is presented in the following table: | ||||||||||||||||||
(Dollars in thousands) | Federal Funds Purchased | Securities Sold Under Agreements to Repurchase | Trading Liabilities | Other Short-term Borrowings | ||||||||||||||
2014 | ||||||||||||||||||
Average balance | $ | 1,101,910 | $ | 447,801 | $ | 633,867 | $ | 531,984 | ||||||||||
Year-end balance | 1,037,052 | 562,214 | 594,314 | 157,218 | ||||||||||||||
Maximum month-end outstanding | 1,247,295 | 562,214 | 718,767 | 1,829,141 | ||||||||||||||
Average rate for the year | 0.25 | % | 0.08 | % | 2.43 | % | 0.3 | % | ||||||||||
Average rate at year-end | 0.25 | 0.06 | 2.6 | 0.56 | ||||||||||||||
2013 | ||||||||||||||||||
Average balance | $ | 1,263,792 | $ | 487,923 | $ | 665,095 | $ | 299,288 | ||||||||||
Year-end balance | 1,042,633 | 442,789 | 368,348 | 181,146 | ||||||||||||||
Maximum month-end outstanding | 1,429,319 | 618,643 | 895,844 | 1,057,412 | ||||||||||||||
Average rate for the year | 0.25 | % | 0.14 | % | 2.05 | % | 0.27 | % | ||||||||||
Average rate at year-end | 0.25 | 0.1 | 2.46 | 0.43 | ||||||||||||||
2012 | ||||||||||||||||||
Average balance | $ | 1,548,020 | $ | 380,871 | $ | 589,461 | $ | 450,690 | ||||||||||
Year-end balance | 1,351,023 | 555,438 | 564,429 | 441,201 | ||||||||||||||
Maximum month-end outstanding | 1,700,172 | 555,438 | 808,139 | 1,270,180 | ||||||||||||||
Average rate for the year | 0.25 | % | 0.18 | % | 1.77 | % | 0.15 | % | ||||||||||
Average rate at year-end | 0.25 | 0.15 | 1.88 | 0.25 |
Term_Borrowings
Term Borrowings | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Long Term Debt [Abstract] | ||||||||
Term Borrowings [Text Block] | Note 11 – Term Borrowings | |||||||
The following table presents information pertaining to Term Borrowings reported on FHN's Consolidated Statements of Condition on December 31: | ||||||||
(Dollars in thousands) | 2014 | 2013 | ||||||
First Tennessee Bank National Association: | ||||||||
Subordinated notes (a) (b) | ||||||||
Maturity date - January 15, 2015 -- 5.05% | $ | 304,525 | $ | 317,714 | ||||
Maturity date - April 1, 2016 -- 5.65% | 264,667 | 276,273 | ||||||
Senior capital notes (b) | ||||||||
Maturity date - December 1, 2019 -- 2.95% | 398,011 | - | ||||||
Other collateralized borrowings -- Maturity date - December 22, 2037 | ||||||||
0.54% on December 31, 2014 and 2013 (c) | 62,562 | 60,223 | ||||||
Federal Home Loan Bank borrowings (d) | - | 2,390 | ||||||
First Horizon National Corporation: | ||||||||
Senior capital notes (b) | ||||||||
Maturity date - December 15, 2015 -- 5.375% | 508,358 | 516,584 | ||||||
Subordinated notes (b) | ||||||||
Maturity date - April 15, 2034 -- 6.30% | 212,474 | 192,014 | ||||||
FT Real Estate Securities Company, Inc.: | ||||||||
Cumulative preferred stock (a) | ||||||||
Maturity date - March 31, 2031 -- 9.50% | 45,896 | 45,828 | ||||||
First Horizon ABS Trusts: | ||||||||
Other collateralized borrowings (e) | ||||||||
Maturity date - October 26, 2026 | ||||||||
0.30% on December 31, 2013 (f) | - | 98,631 | ||||||
Maturity date - September 25, 2029 | ||||||||
0.30% on December 31, 2013 (f) | - | 122,562 | ||||||
Maturity date - September 1, 2032 | ||||||||
6.45% on December 31, 2013 (f) | - | 8,783 | ||||||
Maturity date - October 25, 2034 | ||||||||
0.33% on December 31, 2014 and 2013 | 65,612 | 80,857 | ||||||
First Tennessee New Markets Corporation Investments: | ||||||||
Maturity date - October 25, 2018 -- 4.97% | 7,301 | 7,301 | ||||||
Maturity date - February 1, 2033 -- 4.97% | 8,000 | 8,000 | ||||||
Maturity date - August 08, 2036 -- 2.38% | 2,699 | 2,699 | ||||||
Total | $ | 1,880,105 | $ | 1,739,859 | ||||
A portion qualifies for total capital under the risk-based capital guidelines. | ||||||||
Changes in the fair value of debt attributable to interest rate risk is hedged. Refer to Note 23 – Derivatives. | ||||||||
Secured by trust preferred loans. | ||||||||
The Federal Home Loan Bank borrowings were issued with fixed interest rates and had remaining terms of 1 to 16 years at December, 31 2013. These borrowings had weighted average interest rate of 2.41 percent on December 31, 2013. | ||||||||
On December 31, 2014 and 2013, borrowings secured by $76.8 million and $344.9 million, respectively, of residential real estate loans. | ||||||||
In 2014, FHN resolved three previously consolidated on-balance sheet consumer loan securitizations and the collateralized borrowings were extinguished. | ||||||||
Annual principal repayment requirements as of December 31, 2014 are as follows: | ||||||||
(Dollars in thousands) | ||||||||
2015 | $ | 804,000 | ||||||
2016 | 250,000 | |||||||
2017 | - | |||||||
2018 | 7,301 | |||||||
2019 | 400,000 | |||||||
2020 and after | 392,058 | |||||||
All subordinated notes are unsecured and are subordinate to other present and future senior indebtedness. A portion of FTBNA’s subordinated notes and FHN’s subordinated capital notes qualify as Tier 2 capital under the risk-based capital guidelines. | ||||||||
In 2004 First Tennessee Capital II (“Capital II”), a Delaware business trust wholly owned by FHN, issued $200 million of Capital Securities, Series B at 6.30 percent per annum. The proceeds were loaned to FHN as junior subordinated debt. FHN has, through various contractual arrangements, fully and unconditionally guaranteed all of Capital II’s obligations with respect to the capital securities. The sole asset of Capital II is $206 million of junior subordinated debentures issued by FHN. These junior subordinated debentures also carry an interest rate of 6.30 percent. Both the capital securities of Capital II and the junior subordinated debentures of FHN will mature on April 15, 2034; however, FHN has the option to redeem both prior to maturity. The junior subordinated debentures are included in the Consolidated Statements of Condition in Term borrowings. At year end, the capital securities fully qualified as Tier 1 capital. Tier 1 capital treatment for these securities will begin phasing out in 2015 and will be entirely phased out in 2016. |
Preferred_Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2014 | |
Class Of Stock Disclosures [Abstract] | |
Preferred Stock And Other Capital [Text Block] | Note 12 –Preferred Stock |
FHN Preferred Stock | |
On January 31, 2013, FHN issued 1,000 shares having an aggregate liquidation preference of $100 million of Non-Cumulative Perpetual Preferred Stock, Series A for net proceeds of approximately $96 million. Dividends on the Series A Preferred Stock, if declared, accrue and are payable quarterly, in arrears, at a rate of 6.20 percent per annum. For the issuance, FHN issued depositary shares, each of which represents a 1/4000th fractional ownership interest in a share of FHN’s preferred stock. These securities qualify as Tier 1 capital. | |
Subsidiary Preferred Stock | |
In 2000 FT Real Estate Securities Company, Inc. (“FTRESC”), an indirect subsidiary of FHN, issued 50 shares of 9.50 percent Cumulative Preferred Stock, Class B (“Class B Preferred Shares”), with a liquidation preference of $1.0 million per share; of those, 47 shares were issued to nonaffiliates. These securities qualify as Tier 2 capital and are presented in the Consolidated Statements of Condition as Term borrowings. FTRESC is a real estate investment trust (“REIT”) established for the purpose of acquiring, holding, and managing real estate mortgage assets. Dividends on the Class B Preferred Shares are cumulative and are payable semi-annually. | |
The Class B Preferred Shares are mandatorily redeemable on March 31, 2031, and redeemable at the discretion of FTRESC in the event that the Class B Preferred Shares cannot be accounted for as Tier 2 regulatory capital or there is more than an insubstantial risk that dividends paid with respect to the Class B Preferred Shares will not be fully deductible for tax purposes. They are not subject to any sinking fund and are not convertible into any other securities of FTRESC, FHN, or any of its subsidiaries. The shares are, however, automatically exchanged at the direction of the Office of the Comptroller of the Currency for preferred stock of FTBNA, having substantially the same terms as the Class B Preferred Shares in the event FTBNA becomes undercapitalized, insolvent, or in danger of becoming undercapitalized. | |
FTRESC also has outstanding Cumulative Perpetual Preferred Stock, Class A, which has been recognized as Noncontrolling interest on the Consolidated Statements of Condition, along with Class B Cumulative Perpetual Preferred Stock issued by First Horizon Preferred Funding, Inc. and First Horizon Preferred Funding II, Inc. Other preferred shares are outstanding but are owned by FHN subsidiaries and are eliminated in consolidation. For all periods presented, the aggregate amount included within Noncontrolling interest related to preferred shares issued from these subsidiaries was $.3 million. On January 1, 2013, First Horizon Preferred Funding III, Inc. issued $.1 million of Cumulative Perpetual Preferred Stock, Class A, which is attributable to the noncontrolling interest-holders. During 2013, in connection with the acquisition of MNB, FHN obtained a controlling interest in a subsidiary of MNB which had issued Cumulative Perpetual Preferred Stock, Class A. This $.2 million non-controlling interest is now considered to be issued by First Horizon Preferred Lending IV, Inc. | |
In 2005 FTBNA issued 300,000 shares of Class A Non-Cumulative Perpetual Preferred Stock (“Class A Preferred Stock”) with a liquidation preference of $1,000 per share. Dividends on the Class A Preferred Stock, if declared, accrue and are payable each quarter, in arrears, at a floating rate equal to the greater of the three month LIBOR rate plus .85 percent or 3.75 percent per annum. These securities qualify as Tier 1 capital. On December 31, 2014 and 2013, $294.8 million of Class A Preferred Stock was recognized as Noncontrolling interest on the Consolidated Statements of Condition. |
Regulatory_Capital_and_Restric
Regulatory Capital and Restrictions | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Regulatory Capital Requirements [Abstract] | |||||||||||||
Regulatory Capital And Restrictions | Note 13 – Regulatory Capital and Restrictions | ||||||||||||
Regulatory Capital. FHN is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on FHN's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, specific capital guidelines that involve quantitative measures of assets, liabilities, and certain derivatives as calculated under regulatory accounting practices must be met. Capital amounts and classification are also subject to qualitative judgment by the regulators about capital components, asset risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require FHN to maintain minimum amounts and ratios of Total and Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets (“Leverage”). Management believes that, as of December 31, 2014, FHN met all capital adequacy requirements to which it was subject. | |||||||||||||
The actual capital amounts and ratios of FHN and FTBNA are presented in the table below. In addition, FTBNA must also calculate its capital ratios after excluding financial subsidiaries as defined by the Gramm-Leach-Bliley Act of 1999. Based on this calculation, FTBNA’s Total Capital, Tier 1 Capital, and Leverage ratios were 16.59 percent, 15.77 percent, and 12.41 percent, respectively, on December 31, 2014, and were 16.84 percent, 15.43 percent, and 12.33 percent, respectively, on December 31, 2013. | |||||||||||||
First Horizon National | First Tennessee Bank | ||||||||||||
Corporation | National Association | ||||||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | |||||||||
On December 31, 2014 | |||||||||||||
Actual: | |||||||||||||
Total Capital | $ | 3,148,336 | 16.18 | % | $ | 3,441,315 | 17.86 | % | |||||
Tier 1 Capital | 2,813,503 | 14.46 | 3,107,407 | 16.12 | |||||||||
Leverage | 2,813,503 | 11.43 | 3,107,407 | 12.72 | |||||||||
Minimum Requirement for Capital Adequacy Purposes: | |||||||||||||
Total Capital | 1,556,213 | 8 | 1,541,837 | 8 | |||||||||
Tier 1 Capital | 778,106 | 4 | 770,918 | 4 | |||||||||
Leverage | 985,033 | 4 | 977,374 | 4 | |||||||||
Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: | |||||||||||||
Total Capital | 1,927,296 | 10 | |||||||||||
Tier 1 Capital | 1,156,378 | 6 | |||||||||||
Leverage | 1,221,717 | 5 | |||||||||||
On December 31, 2013 | |||||||||||||
Actual: | |||||||||||||
Total Capital | $ | 3,063,631 | 16.23 | % | $ | 3,434,410 | 18.36 | % | |||||
Tier 1 Capital | 2,618,976 | 13.87 | 2,991,866 | 15.99 | |||||||||
Leverage | 2,618,976 | 11.04 | 2,991,866 | 12.71 | |||||||||
Minimum Requirement for Capital Adequacy Purposes: | |||||||||||||
Total Capital | 1,510,288 | 8 | 1,496,685 | 8 | |||||||||
Tier 1 Capital | 755,144 | 4 | 748,342 | 4 | |||||||||
Leverage | 949,181 | 4 | 941,641 | 4 | |||||||||
Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: | |||||||||||||
Total Capital | 1,870,856 | 10 | |||||||||||
Tier 1 Capital | 1,122,514 | 6 | |||||||||||
Leverage | 1,177,051 | 5 | |||||||||||
Restrictions on cash and due from banks. Under the Federal Reserve Act and Regulation D, FTBNA is required to maintain a certain amount of cash reserves. On December 31, 2014 and 2013, FTBNA’s required reserves were $125.9 million and $115.2 million, respectively. At the end of 2014 and 2013, this requirement was met with $150.8 million and $137.8 million in vault cash, respectively, in addition to Federal Reserve Bank deposits. Vault cash is reflected in Cash and due from banks on the Consolidated Statements of Condition and Federal Reserve Bank deposits are reflected as Interest-bearing cash. | |||||||||||||
Restrictions on dividends. Cash dividends are paid by FHN from its assets, which are mainly provided by dividends from its subsidiaries. Certain regulatory restrictions exist regarding the ability of FTBNA to transfer funds to FHN in the form of cash, dividends, loans, or advances. As of December 31, 2014, FTBNA had undivided profits of $1.0 billion, of which none was available for distribution to FHN as dividends without prior regulatory approval. At any given time, the pertinent portions of those regulatory restrictions allow FTBNA to declare preferred or common dividends without prior regulatory approval in an amount equal to FTBNA’s retained net income for the two most recent completed years plus the current year to date. For any period, FTBNA’s ‘retained net income’ generally is equal to FTBNA’s regulatory net income reduced by the preferred and common dividends declared by FTBNA. Excess dividends in either of the two most recent completed years may be offset with available retained net income in the two years immediately preceding it. Applying the applicable rules, FTBNA’s total amount available for dividends was negative $75.7 million at December 31, 2014 and positive $15.1 million on January 1, 2015. FTBNA applied for and received approval from the OCC to declare and pay common dividends to the parent company in the amount of $180.0 million in 2013 and 2014. During 2013 and 2014, FTBNA applied for and received approval from the OCC to declare and pay dividends on its preferred stock quarterly. Additionally, FTBNA’s Board has declared the dividends on its preferred stock outstanding payable in April 2015. | |||||||||||||
The payment of cash dividends by FHN and FTBNA may also be affected or limited by other factors, such as the requirement to maintain adequate capital above regulatory guidelines and debt covenants. Furthermore, the Federal Reserve and the OCC have issued policy statements generally requiring insured banks and bank holding companies only to pay dividends out of current operating earnings. Consequently, the decision of whether FHN will pay future dividends and the amount of dividends will be affected by current operating results. | |||||||||||||
Restrictions on intercompany transactions. Under current Federal banking law, banking subsidiaries may not extend credit to any affiliate including the parent company and certain financial subsidiaries in excess of 10 percent of the bank’s capital stock and surplus, as defined, or $344.0 million, on December 31, 2014. The equity investment, including retained earnings, in certain of a bank's financial subsidiaries is also treated as a covered transaction. The parent company had covered transactions of $.9 million from FTBNA and the bank's financial subsidiary, FTN Financial Securities Corp., had a total equity investment from FTBNA of $365.8 million on December 31, 2014. Since the equity investment FTBNA has in FTN Financial Securities Corp. exceeds the 10 percent per affiliate limit, FTBNA cannot engage in any additional covered transactions with this affiliate and the banking regulators could require FTBNA to reduce its equity investment so that it is within the limit. In addition, the aggregate amount of covered transactions with all affiliates, as defined, is limited to 20 percent of the bank’s capital stock and surplus, as defined, or $688.0 million, on December 31, 2014. FTBNA’s total covered transactions with all affiliates including the parent company on December 31, 2014 were $366.7 million. |
Other_Income_And_Other_Expense
Other Income And Other Expense | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Other Income And Other Expense [Abstract] | |||||||||||
Other Income And Other Expense | Note 14 – Other Income and Other Expense | ||||||||||
Following is detail of All other income and commissions and All other expense as presented in the Consolidated Statements of Income: | |||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
All other income and commissions: | |||||||||||
ATM interchange fees | $ | 10,943 | $ | 10,412 | $ | 10,528 | |||||
Electronic banking fees | 6,190 | 6,289 | 6,537 | ||||||||
Letter of credit fees | 4,864 | 5,081 | 5,158 | ||||||||
Deferred compensation | 2,042 | 4,685 | 4,461 | ||||||||
Gain/(loss) on extinguishment of debt | -4,166 | - | - | ||||||||
Other | 12,390 | 13,874 | 20,257 | ||||||||
Total | $ | 32,263 | $ | 40,341 | $ | 46,941 | |||||
All other expense: | |||||||||||
Other insurance and taxes | $ | 12,900 | $ | 12,598 | $ | 10,734 | |||||
Tax credit investments | 10,767 | 12,103 | 18,655 | ||||||||
Travel and entertainment | 9,095 | 8,959 | 8,366 | ||||||||
Customer relations | 5,726 | 4,916 | 4,578 | ||||||||
Employee training and dues | 4,518 | 5,054 | 4,525 | ||||||||
Supplies | 3,745 | 3,800 | 3,752 | ||||||||
Miscellaneous loan costs | 2,690 | 4,209 | 4,126 | ||||||||
Litigation and regulatory matters | -2,720 | 63,654 | 33,313 | ||||||||
Other | 41,952 | 32,579 | 41,195 | ||||||||
Total | $ | 88,673 | $ | 147,872 | $ | 129,244 |
Components_of_Other_Comprehens
Components of Other Comprehensive Income/(Loss) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Components of Other Comprehensive Income/(Loss) [Text Block] | Note 15 – Components of Other Comprehensive Income/(loss) | ||||||||||||
Following is detail of "Accumulated other comprehensive income/(loss)" as presented in the Consolidated Statements of Condition: | |||||||||||||
Accumulated Other Comprehensive Income/(Loss) | |||||||||||||
Before-Tax Amount | Tax Benefit/ (Expense) | ||||||||||||
(Dollars in thousands) | |||||||||||||
31-Dec-11 | $ | -130,156 | |||||||||||
Other comprehensive income: | |||||||||||||
Fair value adjustments on securities available-for-sale | $ | -19,016 | $ | 7,397 | -11,619 | ||||||||
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss) | -328 | 128 | -200 | ||||||||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | -45,110 | 17,906 | -27,204 | ||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 37,867 | -15,031 | 22,836 | ||||||||||
31-Dec-12 | -26,587 | 10,400 | -146,343 | ||||||||||
Other comprehensive income: | |||||||||||||
Fair value adjustments on securities available-for-sale | -108,703 | 41,935 | -66,768 | ||||||||||
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss) | 451 | -174 | 277 | ||||||||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | 81,456 | -31,392 | 50,064 | ||||||||||
Prior service credit/(cost) arising during the period | 10,678 | -4,115 | 6,563 | ||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 10,085 | -3,887 | 6,198 | ||||||||||
31-Dec-13 | -6,033 | 2,367 | -150,009 | ||||||||||
Other comprehensive income: | |||||||||||||
Fair value adjustments on securities available-for-sale | 47,957 | -18,135 | 29,822 | ||||||||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | -115,976 | 44,803 | -71,173 | ||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 5,075 | -1,961 | 3,114 | ||||||||||
31-Dec-14 | $ | -62,944 | $ | 24,707 | $ | -188,246 | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||
Income Taxes [Text Block] | Note 16 – Income Taxes | |||||||||||||
The aggregate amount of income taxes included in the Consolidated Statements of Income and the Consolidated Statements of Equity for the years ended December 31, were as follows: | ||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||||||
Consolidated Statements of Income: | ||||||||||||||
Income tax expense/(benefit) related to continuing operations | $ | 78,501 | $ | -32,169 | $ | -85,262 | ||||||||
Income tax expense/(benefit) related to discontinued operations | - | 343 | 93 | |||||||||||
Consolidated Statements of Equity: | ||||||||||||||
Income tax expense/(benefit) related to: | ||||||||||||||
Pension and postretirement plans | -42,842 | 39,394 | -2,875 | |||||||||||
Unrealized gains/(losses) on investment securities available-for-sale | 18,135 | -41,761 | -7,525 | |||||||||||
Share-based compensation | 7,220 | 1,569 | 4,140 | |||||||||||
Total | $ | 61,014 | $ | -32,624 | $ | -91,429 | ||||||||
The components of income tax expense/(benefit) related to continuing operations for the years ended December 31, were as follows: | ||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||||||
Current: | ||||||||||||||
Federal | $ | 74,193 | $ | -9,011 | $ | -5,304 | ||||||||
State | -3,461 | -13,792 | -9,725 | |||||||||||
Foreign | 1 | 10 | 33 | |||||||||||
Deferred: | ||||||||||||||
Federal | 3,364 | 4,169 | -59,417 | |||||||||||
State | 4,390 | -13,508 | -10,848 | |||||||||||
Foreign | 14 | -37 | -1 | |||||||||||
Total | $ | 78,501 | $ | -32,169 | $ | -85,262 | ||||||||
A reconciliation of expected income tax expense/(benefit) at the federal statutory rate of 35 percent to the total income tax expense from continuing operations follows: | ||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||||||
Federal income tax rate | 35 | % | 35 | % | 35 | % | ||||||||
Tax computed at statutory rate | $ | 108,343 | $ | 2,923 | $ | -35,597 | ||||||||
Increase/(decrease) resulting from: | ||||||||||||||
State income taxes | 8,424 | -2,556 | -4,234 | |||||||||||
Bank owned life insurance ("BOLI") | -6,671 | -6,646 | -7,428 | |||||||||||
401(k) - employee stock ownership plan ("ESOP") | -659 | -568 | -155 | |||||||||||
Tax-exempt interest | -5,798 | -5,094 | -4,469 | |||||||||||
Non-deductible expenses | 829 | 963 | 1,175 | |||||||||||
Tax credits | -11,392 | -13,340 | -18,125 | |||||||||||
Subsidiary liquidation | - | - | -6,733 | |||||||||||
Change in valuation allowance - DTA | -13,168 | -4,427 | - | |||||||||||
Other changes in unrecognized tax benefits | -1,570 | -5,106 | -8,981 | |||||||||||
Other | 163 | 1,682 | -715 | |||||||||||
Total | $ | 78,501 | $ | -32,169 | $ | -85,262 | ||||||||
A deferred tax asset (“DTA”) or deferred tax liability (“DTL”) is recognized for the tax consequences of temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax consequence is calculated by applying enacted statutory tax rates, applicable to future years, to these temporary differences. In order to support the recognition of the DTA, FHN’s management must believe that the realization of the DTA is more likely than not. FHN evaluates the likelihood of realization of the DTA based on both positive and negative evidence available at the time, including (as appropriate) scheduled reversals of DTLs, projected future taxable income, tax planning strategies, and recent financial performance. Realization is dependent on generating sufficient taxable income prior to the expiration of the carryforwards attributable to the DTA. In projecting future taxable income, FHN incorporates assumptions including the estimated amount of future state and federal pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates used to manage the underlying business. | ||||||||||||||
As of December 31, 2014, the gross DTA is $415.0 million. The gross DTL is $86.0 million as of December 31, 2014. Management has assessed the ability to realize the gross DTA based on positive and negative evidence and on the basis of this evaluation, a valuation allowance of $44.6 million was recorded as of December 31, 2014. The valuation allowance is primarily attributable to capital loss carryforwards of $44.4 million. Management believes it is more likely than not that the benefit of the capital loss carryover to 2015 will not be realized because there is uncertainty as to whether FHN will generate capital gains over the five year carryforward period. The DTA after the valuation allowance is $370.4 million as of December 31, 2014. Although realization is not assured, FHN believes that its ability to realize the net DTA is more likely than not. | ||||||||||||||
Temporary differences which gave rise to deferred tax assets and deferred tax liabilities on December 31, 2014 and 2013 were as follows: | ||||||||||||||
(Dollars in thousands) | 2014 | 2013 | ||||||||||||
Deferred tax assets: | ||||||||||||||
Loss reserves | $ | 100,569 | $ | 94,170 | ||||||||||
Employee benefits | 136,007 | 97,246 | ||||||||||||
Investment in partnerships | 25,861 | 29,856 | ||||||||||||
Foreclosed property | 1,205 | 901 | ||||||||||||
Accrued expenses | 31,613 | 25,158 | ||||||||||||
Investment in AFS securities | - | 6,874 | ||||||||||||
Capital loss carryforwards | 44,445 | 51,876 | ||||||||||||
Credit carryforwards | 39,196 | 98,919 | ||||||||||||
Federal NOL carryforwards | - | 4,184 | ||||||||||||
State NOL carryforwards | 15,279 | 29,422 | ||||||||||||
Unrecognized tax benefits | 1,915 | 3,103 | ||||||||||||
Other | 18,902 | 21,760 | ||||||||||||
Gross deferred tax assets | 414,992 | 463,469 | ||||||||||||
Valuation allowance | -44,584 | -57,752 | ||||||||||||
Deferred tax assets after valuation allowance | $ | 370,408 | $ | 405,717 | ||||||||||
Deferred tax liabilities: | ||||||||||||||
Capitalized mortgage servicing rights | $ | 337 | $ | 25,245 | ||||||||||
Depreciation and amortization | 22,353 | 46,209 | ||||||||||||
Federal Home Loan Bank stock | 9,383 | 17,426 | ||||||||||||
Investment in AFS securities | 11,639 | - | ||||||||||||
Other intangible assets | 30,888 | 28,417 | ||||||||||||
Prepaid expenses | 9,874 | 9,752 | ||||||||||||
Other | 1,570 | 2,958 | ||||||||||||
Gross deferred tax liabilities | 86,044 | 130,007 | ||||||||||||
Net deferred tax assets | $ | 284,364 | $ | 275,710 | ||||||||||
The total unrecognized tax benefits ("UTB") at December 31, 2014 and December 31, 2013, was $5.2 million and $6.6 million, respectively. FHN is currently in audit in several jurisdictions. It is reasonably possible that the UTB could decrease by $2.1 million during 2015 if audits are completed and settled and if the applicable statutes of limitations expire as scheduled. FHN recognizes interest accrued and penalties related to UTB within income tax expense. FHN had approximately $.9 million and $2.0 million accrued for the payment of interest as of December 31, 2014 and December 31, 2013, respectively. | ||||||||||||||
The rollforward of unrecognized tax benefits is shown below: | ||||||||||||||
(Dollars in thousands) | ||||||||||||||
Balance at December 31, 2012 | $ | 17,638 | ||||||||||||
Increases related to prior year tax positions | - | |||||||||||||
Decreases related to prior year tax positions | -1,688 | |||||||||||||
Settlements | -7,386 | |||||||||||||
Lapse of statutes | -1,943 | |||||||||||||
Balance at December 31, 2013 | $ | 6,621 | ||||||||||||
Increases related to prior year tax positions | 960 | |||||||||||||
Increases related to current year tax positions | 868 | |||||||||||||
Lapse of statutes | -3,242 | |||||||||||||
Balance at December 31, 2014 | $ | 5,207 |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Earnings Per Share [Abstract] | |||||||||||
Earnings Per Share | Note 17 – Earnings Per Share | ||||||||||
The following tables provide a reconciliation of the numerators used in calculating earnings/(loss) per share attributable to common shareholders: | |||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Income/(loss) from continuing operations | $ | 231,050 | $ | 40,519 | $ | -16,443 | |||||
Income/(loss) from discontinued operations, net of tax | - | 548 | 148 | ||||||||
Net income/(loss) | 231,050 | 41,067 | -16,295 | ||||||||
Net income attributable to noncontrolling interest | 11,527 | 11,465 | 11,464 | ||||||||
Net income/(loss) attributable to controlling interest | 219,523 | 29,602 | -27,759 | ||||||||
Preferred stock dividends | 6,200 | 5,838 | - | ||||||||
Net income/(loss) available to common shareholders | $ | 213,323 | $ | 23,764 | $ | -27,759 | |||||
Income/(loss) from continuing operations | $ | 231,050 | $ | 40,519 | $ | -16,443 | |||||
Net income attributable to noncontrolling interest | 11,527 | 11,465 | 11,464 | ||||||||
Preferred stock dividends | 6,200 | 5,838 | - | ||||||||
Net income/(loss) from continuing operations available to common shareholders | $ | 213,323 | $ | 23,216 | $ | -27,907 | |||||
The component of Income/(loss) from continuing operations attributable to FHN as the controlling interest holder was $219.5 million, $29.1 million and $(27.9) million during the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||||
The following table provides a reconciliation of weighted average common shares to diluted average common shares: | |||||||||||
(Shares in thousands) | 2014 | 2013 | 2012 | ||||||||
Weighted average common shares outstanding - basic | 234,997 | 237,972 | 248,349 | ||||||||
Effect of dilutive securities | 1,738 | 1,822 | - | ||||||||
Weighted average common shares outstanding - diluted | 236,735 | 239,794 | 248,349 | ||||||||
The following tables show earnings/(loss) per common and diluted share: | |||||||||||
Earnings/(loss) per common share: | 2014 | 2013 | 2012 | ||||||||
Income/(loss) per share from continuing operations available to common shareholders | $ | 0.91 | $ | 0.1 | $ | -0.11 | |||||
Income/(loss) per share available to common shareholders | $ | 0.91 | $ | 0.1 | $ | -0.11 | |||||
Diluted earnings/(loss) per common share: | |||||||||||
Diluted income/(loss) per share from continuing operations available to common shareholders | $ | 0.9 | $ | 0.1 | $ | -0.11 | |||||
Diluted income/(loss) per share available to common shareholders | $ | 0.9 | $ | 0.1 | $ | -0.11 | |||||
For the years ended December 31, 2014 and 2013, the dilutive effect for all potential common shares was 1.7 million and 1.8 million, respectively. Due to the net loss attributable to common shareholders for the year ended December 31, 2012, no potentially dilutive shares were included in the loss per share calculation as including such shares would have been antidilutive. Stock options of 4.6 million, 7.9 million and 10.0 million with weighted average exercise prices of $23.46, $21.95, and $22.07 per share for the years ended December 31, 2014, 2013 and 2012, respectively, were excluded from diluted shares because including such shares would be antidilutive. |
Contingencies_And_Other_Disclo
Contingencies And Other Disclosures | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
[CommitmentsAndContingenciesDisclosureAbstract] | ||||||||||||||
Contingencies And Other Disclosures | Note 18 – Contingencies and Other Disclosures | |||||||||||||
Contingencies | ||||||||||||||
General | ||||||||||||||
Contingent liabilities arise in the ordinary course of business. Often they are related to lawsuits, arbitration, mediation, and other forms of litigation. Various litigation matters are threatened or pending against FHN and its subsidiaries. Also, FHN at times receives requests for information, subpoenas, or other inquiries from federal, state, and local regulators, from other government authorities, and from other parties concerning various matters relating to FHN’s current or former lines of business. Certain matters of that sort are pending at this time, and FHN is cooperating in those matters. Pending and threatened litigation matters sometimes are resolved in court or before an arbitrator, and sometimes are settled by the parties. Regardless of the manner of resolution, frequently the most significant changes in status of a matter occur over a short time period, often following a lengthy period of little substantive activity. In view of the inherent difficulty of predicting the outcome of these matters, particularly where the claimants seek very large or indeterminate damages, or where the cases present novel legal theories or involve a large number of parties, or where claims or other actions may be possible but have not been brought, FHN cannot reasonably determine what the eventual outcome of the pending matters will be, what the timing of the ultimate resolution of these matters may be, or what the eventual loss or impact related to each matter may be. FHN establishes loss contingency liabilities for litigation matters when loss is both probable and reasonably estimable as prescribed by applicable financial accounting guidance. A liability generally is not established when loss for a matter either is not probable or its amount is not reasonably estimable. If loss for a matter is probable and a range of possible loss outcomes is the best estimate available, accounting guidance requires a liability to be established at the low end of the range. | ||||||||||||||
Disclosure in this Note is provided in respect of several types of matters. (a) Disclosure is provided for each matter as to which FHN has determined that material loss is probable, which can include matters for which material loss liability has been established as of period-end and matters for which the amount of loss is not reasonably estimable. (b) Disclosure of an aggregate range of reasonably possible loss ("RPL") associated with contingent liabilities is provided as to matters where there is more than a remote chance of an estimable, material loss outcome for FHN in excess of currently established loss liabilities, whether or not those established loss liabilities are material. Additional disclosure is provided for certain of those matters. (c) Disclosure is provided for several loss contingency litigation matters related to FHN's former mortgage securitizations not falling within loss categories (a) or (b). | ||||||||||||||
Based on current knowledge, and after consultation with counsel, management is of the opinion that loss contingencies related to threatened or pending litigation matters should not have a material adverse effect on the consolidated financial condition of FHN, but may be material to FHN’s operating results for any particular reporting period depending, in part, on the results from that period. | ||||||||||||||
Litigation – Loss Contingencies | ||||||||||||||
As used in this Note, "material loss contingency matters" generally fall into at least one of the following categories: (i) FHN has determined material loss to be probable and has established a material loss liability in accordance with applicable financial accounting guidance, other than matters reported as having been substantially settled or otherwise substantially resolved; (ii) FHN has determined material loss to be probable but is not reasonably able to estimate an amount or range of material loss liability; or (iii) FHN has determined that material loss is not probable but is reasonably possible, and that the amount or range of that material loss is estimable. As defined in applicable accounting guidance, loss is reasonably possible if there is more than a remote chance of a material loss outcome for FHN. Set forth below are disclosures for certain pending or threatened litigation matters, including all matters mentioned in clauses (i) or (ii) and certain matters mentioned in (iii). In addition, certain other matters are discussed relating to FHN's former mortgage origination and servicing businesses. In all litigation matters discussed, unless settled or otherwise resolved, FHN believes it has meritorious defenses and intends to pursue those defenses vigorously. | ||||||||||||||
FHN reassesses the liability for litigation matters each quarter as the matters progress. At December 31, 2014, the aggregate amount of liabilities established for all material loss contingency matters was $56.2 million. Of the matters discussed under the heading "First Horizon Branded Mortgage Securitization Litigation Matters" below, only the Charles Schwab suit is among those matters for which a liability has been established. The liabilities discussed in this paragraph are separate from those discussed under the heading "Established Repurchase Liability" below. | ||||||||||||||
In each material loss contingency matter, except as otherwise noted, there is a more than slight chance that each of the following outcomes will occur: the plaintiff will substantially prevail; the defense will substantially prevail; the plaintiff will prevail in part; or the matter will be settled by the parties. At December 31, 2014, FHN estimates that for all material loss contingency matters, estimable reasonably possible losses in future periods in excess of currently established liabilities could aggregate in a range from zero to approximately $120 million. Of those matters discussed under the heading "First Horizon Branded Mortgage Securitization Litigation Matters," only the Charles Schwab and the two FDIC suits are included in that range. | ||||||||||||||
As a result of the general uncertainties discussed above and the specific uncertainties discussed for each matter mentioned below, it is possible that the ultimate future loss experienced by FHN for any particular matter may materially exceed the amount, if any, of currently established liability for that matter. That possibility exists both for matters included in the RPL estimated range mentioned above and for matters not included in that range. | ||||||||||||||
Certain Matters Included in Reasonably Possible Loss Range | ||||||||||||||
Debit Transaction Sequencing Litigation Matter. FTBNA is a defendant in a putative class action lawsuit concerning overdraft fees charged in connection with debit card transactions. A key claim is that the method used to order or sequence the transactions posted each day was improper. The case is styled as Hawkins v. First Tennessee Bank National Association, before the Circuit Court for Shelby County, Tennessee, Case No. CT-004085-11. The plaintiff seeks actual damages of at least $5 million, unspecified restitution of fees charged, and unspecified punitive damages, among other things. FHN's estimate of reasonably possible loss for this matter is subject to significant uncertainties regarding: whether a class will be certified and, if so, the definition of the class; claims as to which no dollar amount is specified; the potential remedies that might be available or awarded; the ultimate outcome of potentially significant motions such as motions to dismiss, or for summary judgment; and the incomplete status of the discovery process. | ||||||||||||||
RPL-Included First Horizon Branded Mortgage Securitization Litigation Matters. Several pending litigation matters are discussed under the heading "First Horizon Branded Mortgage Securitization Litigation Matters" below. For certain of those FHN has been able to estimate reasonably possible loss. Those estimable matters are the Charles Schwab, FDIC (NY), and FDIC (AL) cases. The estimates for those matters are included in the range of reasonably possible loss discussed above. The estimates are subject to significant uncertainties regarding: the dollar amounts claimed; the potential remedies that might be available or awarded; the outcome of any settlement discussions; the outcome of potentially significant motions; the availability of significantly dispositive defenses; the identity and value of assets that FHN may be required to repurchase to the extent asset repurchase is sought; the incomplete status of the discovery process; and the lack of precedent claims. | ||||||||||||||
Certain Matters Not Included in Reasonably Possible Loss Range | ||||||||||||||
RPL-Excluded First Horizon Branded Mortgage Securitization Litigation Matters. Several pending litigation matters are discussed under the heading "First Horizon Branded Mortgage Securitization Litigation Matters" below. For certain of those FHN has been able to estimate reasonably possible loss as mentioned in the preceding paragraph, and for others FHN has not. Those matters for which RPL currently is not estimable are the FHLB of San Francisco, Metropolitan Life, Royal Park, and Integra REC indemnity cases. FHN is unable to estimate a range of reasonably possible loss due to significant uncertainties regarding: claims as to which the claimant specifies no dollar amount; the potential remedies that might be available or awarded; the availability of significantly dispositive defenses such as statutes of limitations or repose; the outcome of potentially dispositive early-stage motions such as motions to dismiss; the identity and value of assets that FHN may be required to repurchase for those claims seeking asset repurchase; the incomplete status of the discovery process; the lack of a precise statement of damages; and lack of precedent claims. | ||||||||||||||
Inquiry Regarding FHA-Insured Loans. Since second quarter 2012 FHN has been cooperating with the U.S. Department of Justice (“DOJ”) and the Office of the Inspector General for the Department of Housing and Urban Development ("HUD") in a civil investigation regarding compliance with requirements relating to certain residential mortgage loans insured by the Federal Housing Administration ("FHA"). HUD has reviewed a small sample of loans from the period being investigated. FHN has cooperated in the investigation, and discussions between the parties are continuing. The investigation could lead to a demand or claim under the federal False Claims Act and the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which allow treble and other special damages substantially in excess of actual losses. Currently FHN is not able to predict the eventual outcome of this matter. In anticipation of future substantive discussions between the parties, a liability has been established for this matter. However, FHN continues to be unable to estimate a range of reasonably possible loss in excess of established liabilities due to significant uncertainties regarding: the potential remedies, including any amount of enhanced damages, that might be available or awarded; the availability of significantly dispositive defenses; and the limited number of reported precedent claims and resolutions (involving other banking organizations) combined with a lack of underlying data connected with those resolutions. | ||||||||||||||
The investigation has focused on loans originated by FHN on or after January 1, 2006. FHA-insured originations from January 1, 2006 through the August 31, 2008 divestiture of FHN's national mortgage platform totaled 47,817 loans with an aggregate original principal balance of $8.2 billion. The amount of FHA-insured originations each year declined substantially following the divestiture. | ||||||||||||||
First Horizon Branded Mortgage Securitization Litigation Matters | ||||||||||||||
Prior to September 2008 FHN originated and sold home loan products through various channels and conducted its servicing business under the First Horizon Home Loans and First Tennessee Mortgage Servicing brands. Those sales channels included the securitization of loans into pools held by trustees and the sale of the resulting securities, sometimes called “certificates,” to investors. These activities are discussed in more detail below under the heading “Legacy Home Loan Sales and Servicing.” | ||||||||||||||
At the time this report is filed, FHN, along with multiple co-defendants, is defending several lawsuits brought by investors which claim that the offering documents under which certificates relating to First Horizon branded securitizations ("FH proprietary securitizations") were sold to them were materially deficient. The plaintiffs and venues of these suits are: (1) Charles Schwab Corp. in the Superior Court of San Francisco, California (Case No. 10-501610); (2) Federal Deposit Insurance Corporation ("FDIC") as receiver for Colonial Bank, in the U.S. District Court for the Middle District of Alabama (Case No. CV-12-791-WKW-WC); and (3) FDIC as a receiver for Colonial Bank, in the U.S. District Court for the Southern District of New York (Case No. 12 Civ. 6166 (LLS)(MHD)). The plaintiffs in the pending suits claim to have purchased certificates in a number of separate FH proprietary securitizations and demand that FHN repurchase their investments, or answer in damages or rescission, among other remedies sought. | ||||||||||||||
In some of the pending suits underwriters are co-defendants and have demanded, under provisions in the applicable underwriting agreements, that FHN indemnify them for their expenses and any losses they may incur. In addition, FHN has received indemnity demands from underwriters in certain other suits as to which investors claim to have purchased senior certificates in FH proprietary securitizations. FHN has not been named a defendant in these suits, which FHN is defending indirectly as indemnitor. The plaintiffs and venues of these other suits are: (4) FHLB of San Francisco, in the Superior Court of San Francisco County, California (Case No. CGC-10-497840); (5) Metropolitan Life Insurance Co., in the Supreme Court of New York County, New York (No. 651360-2012); (6) Royal Park Invs. SA/NV, in the Supreme Court of New York County, New York (No. 652607-2012); and (7) Commonwealth of Virginia ex rel. Integra REC LLC, in the Circuit Court for the City of Richmond (No. CL14-399). | ||||||||||||||
Details concerning the original purchase amounts and ending balances of the investments at issue in most of these pending suits, as to which FHN is a named defendant or as to which FHN has an agreement to indemnify an underwriter defendant, are set forth below. Information about the performance of the FH proprietary securitizations related to these suits is available in monthly reports published by the trustee for the securitization trusts. FHN believes that certain plaintiffs did not purchase the entire certificate in the securitizations in which they invested. Reporting by the trustee is at a certificate level and, as a result, ending certificate balances in the following table were adjusted to reflect FHN's estimate of the ending balance of each partial certificate purchased by these plaintiffs. Plaintiffs in the pending lawsuits claim to have purchased a total of $225.7 million of certificates and the purchase prices of the certificates subject to the indemnification requests total $331.4 million. “Senior” and “Junior” refer to the ranking of the investments in broad terms; in most cases the securitization provided for sub-classifications within the Senior or Junior groups. Excluded from the information above and the table below is information related to the Integra case. Although FHN is aware that one of its Alt-A securitizations from 2005 is at issue in Integra, FHN does not know which certificate(s), or portion(s) of certificate(s), are involved. | ||||||||||||||
Alt-A | Jumbo | |||||||||||||
(Dollars in thousands) | Senior | Junior | Senior | Junior | ||||||||||
Vintage | ||||||||||||||
Original Purchase Price: | ||||||||||||||
2005 | $ | 200,117 | $ | - | $ | 30,000 | $ | - | ||||||
2006 | 77,906 | - | - | - | ||||||||||
2007 | 199,012 | - | 50,000 | - | ||||||||||
Total | $ | 477,035 | $ | - | $ | 80,000 | $ | - | ||||||
Ending Balance per the December 25, 2014, trust statements: | ||||||||||||||
2005 | $ | 51,564 | $ | - | $ | 10,342 | $ | - | ||||||
2006 | 33,066 | - | - | - | ||||||||||
2007 | 86,038 | - | 14,711 | - | ||||||||||
Total | $ | 170,668 | $ | - | $ | 25,053 | $ | - | ||||||
If FHN were to repurchase certificates, it would recognize as a loss the difference between the amount paid (adjusted for any related litigation liability previously established) and the fair value of the certificates at that time. | ||||||||||||||
The total ending certificate balance of the investments which are the subject of the current pending lawsuits was $195.7 million as reported on the December 25, 2014, trust statements, with approximately 85 percent of the remaining balances performing. Cumulative losses on the investments which are the subject of the remaining lawsuits, as reported on the trust statements, represent approximately 6 percent of the original principal amount underlying the certificates purchased. Ending certificate balances reflect the remaining principal balance on the certificates, after the monthly principal and interest distributions and after reduction for applicable cumulative and current realized losses. Recognized cumulative losses may not take into account all outstanding principal and interest amounts advanced by the servicer due to nonpayment by the borrowers; reimbursement of those advances to the servicer may increase cumulative losses. Losses often are reported by the trustee based on each certificate within a pool or group, which limits FHN’s ability to ascertain losses at the individual investor level. | ||||||||||||||
As discussed below under “Legacy Home Loan Sales and Servicing,” similar claims may be pursued by other investors, and loan repurchase, make-whole, or indemnity claims may be pursued by securitization trustees or other parties to transactions seeking indemnity. At December 31, 2014, except for the Charles Schwab case, FHN had not recognized a liability for exposure for investment rescission or damages arising from the foregoing or other potential claims by investors that the offering documents under which the loans were securitized were materially deficient, nor for exposure for repurchase of loans arising from potential claims that FHN breached its representations and warranties made in FH proprietary securitizations at closing. | ||||||||||||||
Legacy Home Loan Sales and Servicing | ||||||||||||||
Overview | ||||||||||||||
Prior to September 2008, as a means to provide liquidity for its legacy mortgage banking business, FHN originated loans through its legacy mortgage business, primarily first lien home loans, with the intention of selling them. Predominantly mortgage loans were intended to be sold without recourse for credit default. Sales typically were effected either as non-recourse whole-loan sales or through non-recourse proprietary securitizations. Conventional conforming single-family residential mortgage loans were sold predominately to two GSEs: the Federal National Mortgage Association ("Fannie Mae," "Fannie," or "FNMA"), and the Federal Home Loan Mortgage Corporation ("Freddie Mac," "Freddie," or "FHLMC"). Federally insured or guaranteed whole-loans were pooled, and payments to investors were guaranteed through the Government National Mortgage Association ("Ginnie Mae," "Ginnie," or "GNMA"). Collectively, Fannie Mae, Freddie Mac, and Ginnie Mae are referred to as the "Agencies." Many mortgage loan originations, especially those "nonconforming" mortgage loans that did not meet criteria for whole-loan sales to the GSEs or insurance through Ginnie Mae, were sold to investors, or certificate-holders, predominantly through First Horizon ("FH") branded proprietary securitizations but also, to a lesser extent, through whole-loan sales to private non-Agency purchasers. In addition, FHN originated with the intent to sell and sold HELOCs and second lien mortgages through whole-loan sales to private purchasers and, to a lesser extent, through FH proprietary securitizations. | ||||||||||||||
On August 31, 2008 FHN sold its national mortgage origination and servicing platforms along with a portion of its servicing assets and obligations. This is sometimes referred to as the “2008 sale,” the “2008 divestiture,” the “platform sale,” or other similar terms. FHN contracted to have its remaining servicing obligations sub-serviced. Since the 2008 platform sale FHN has sold substantially all remaining servicing assets and obligations. | ||||||||||||||
Loans Sold With Full or Limited Recourse | ||||||||||||||
FHN also sold certain Agency mortgage loans with full recourse under agreements to repurchase the loans upon default. Loans sold with full recourse generally included mortgage loans sold to investors in the secondary market which were uninsurable under government mortgage loan programs due to issues associated with underwriting activities, documentation, or other concerns. For mortgage insured single-family residential loans, in the event of borrower nonperformance, FHN would assume losses to the extent they exceed the value of the collateral and private mortgage insurance (“MI”), the FHA insurance, or the Veteran’s Administration (“VA”) guaranty. FHN may absorb losses on these loans due to uncollected interest and foreclosure costs but has limited risk of credit losses in the event of foreclosure of the mortgage loan sold. Generally, the amount of recourse liability in the event of foreclosure is determined based upon the respective government program and/or the sale or disposal of the foreclosed property collateralizing the mortgage loan. | ||||||||||||||
FHN also has potential loss exposure from claims that FHN violated FHA or VA requirements related to the origination of the loans and insurance or guarantee claims filed after origination in relation to the loans. Additional information concerning a pending investigation related to FHA-insured lending is provided in "Inquiry Regarding FHA-Insured Loans" above. | ||||||||||||||
Unless otherwise noted, the remaining discussion under this section, “Legacy Home Loan Sales and Servicing,” excludes information concerning full or limited recourse loan sales. | ||||||||||||||
Agency Whole-Loan Sales | ||||||||||||||
Even though Agency loans were sold without recourse for credit loss, FHN may be obligated to either repurchase a loan for the unpaid principal balance ("UPB") or make the purchaser whole for the economic loss incurred if FHN breached representations or warranties made by FHN to the purchaser at the time of the sale. Such representations and warranties typically covered both substantive and process matters, such as the existence and sufficiency of file documentation and the absence of fraud by borrowers or other third parties such as appraisers. Since the mortgage platform sale in 2008 through December 31, 2014, Agencies, primarily the two GSEs, have accounted for the vast majority of repurchase/make-whole claims received. | ||||||||||||||
In the fourth quarter of 2013 FHN entered into a definitive resolution agreement ("DRA") with Fannie Mae, and in the first quarter of 2014 FHN entered into a DRA with Freddie Mac, in each case resolving certain legacy selling representation and warranty repurchase obligations associated with loans originated from 2000 to 2008 excluding certain loans FHN no longer serviced at the time of the DRA. Under each DRA, FHN remains responsible for repurchase obligations related to certain excluded defects (such as title defects and violations of the GSE's Charter Act) and FHN continues to have obligations related to mortgage insurance rescissions, cancellations, and denials. With respect to loans where there has been a prior bulk sale of servicing, FHN is not responsible for mortgage insurance cancellations and denials to the extent attributable to the acts of the current servicer. | ||||||||||||||
As a result of the DRAs, the repurchase pipeline overall is smaller, and the proportion of GSE-related repurchase requests in the pipeline also is smaller, than in periods pre-dating the DRAs. The repurchase liability FHN has recorded as of December 31, 2014 contemplates, among other things, estimates of FHN’s repurchase exposure related to loans excluded from the DRAs and estimates of FHN’s repurchase exposure related to certain other whole-loan sales. See "Other Whole-Loan Sales" and “Established Repurchase Liability” below for additional information. | ||||||||||||||
Other Whole-Loan Sales | ||||||||||||||
Prior to the 2008 divestiture FHN also sold first lien mortgage loans through whole-loan sales to non-Agency purchasers. FHN made contractual representations and warranties to the purchasers generally similar to those made to Agency purchasers. As of December 31, 2014, 45 percent of repurchase/make-whole claims in the pipeline relate to other whole-loan sales. These claims are included in FHN’s liability methodology and the assessment of the adequacy of the repurchase and foreclosure liability. | ||||||||||||||
Many of these loans were included by the purchasers in their own securitizations, not using the First Horizon brand. FHN’s contractual representations and warranties to these loan purchasers generally included repurchase and indemnity covenants for losses and expenses applicable to the securitization caused by FHN’s breach. Currently the following categories of legal actions are pending which involve FHN and non-Agency whole-loan sales: (i) FHN has received indemnification requests from purchasers of loans or their assignees in cases where FHN is not a defendant; (ii) FHN has received subpoenas seeking loan reviews in cases where FHN is not a defendant; (iii) FHN has received repurchase or make-whole demands from purchasers or their assignees; and (iv) FHN is a defendant in certain legal actions involving FHN-originated loans. In some cases the loans to be reviewed, or which otherwise are at issue, have not been identified specifically. Assignees can include securitizers or securitization trustees, among others. A loan is included in the repurchase pipeline only when an identifiable demand for repurchase has been made outside of active litigation. | ||||||||||||||
First Horizon Branded Proprietary Mortgage Securitizations | ||||||||||||||
From 2005 through 2007 FHN originated and sold certain non-agency, nonconforming mortgage loans, consisting of Jumbo and Alternative-A (“Alt A”) first lien mortgage loans, to private investors through 80 proprietary securitization trusts under the FH brand. Securitized loans generally were sold indirectly to investors as interests, commonly known as certificates, in the trusts. The certificates were sold to a variety of investors, including GSEs in some cases, through securities offerings under a prospectus or other offering documents. In most cases, the certificates were tiered into different risk classes, with junior classes exposed to trust losses first and senior classes exposed after junior classes were exhausted. Through third quarter 2013, FHN continued to service substantially all of the remaining loans sold through FH proprietary securitizations. In 2013 FHN contracted to sell substantially all such servicing rights and obligations, with transfers occurring largely in fourth quarter 2013 and first quarter 2014. As of December 31, 2014, the aggregate remaining UPB in active FH proprietary securitizations from 2005 through 2007 was $6.1 billion consisting of $4.2 billion Alt-A mortgage loans and $1.9 billion Jumbo mortgage loans. | ||||||||||||||
Representations and warranties were made to the securitization trustee, as the nominal purchaser of the loans, for the benefit of investors. As such, FHN has exposure to the trustee for repurchase of loans arising from claims that FHN breached its representations and warranties made at closing. As of December 31, 2014, the repurchase request pipeline contained no repurchase requests related to FH proprietary first lien securitizations based on breaches of representations and warranties to the trustee. | ||||||||||||||
Unlike loans sold to GSEs, contractual representations and warranties for FH proprietary first lien securitizations do not include specific representations regarding the absence of other-party fraud or negligence in the underwriting or origination of the mortgage loans. Securitization documents typically provide the investors with a right to request that the trustee investigate and initiate repurchase of a mortgage loan if FHN breached certain representations and warranties made at the time the securitization closed and such breach materially and adversely affects the interests of the investors in such mortgage loan. The securitization documents do not require the trustee to make an investigation into the facts or matters stated in any investor request or notice unless requested in writing to do so by the holders of certificates evidencing not less than 25 percent of the voting rights allocated to each class of certificates. The certificate holders also may be required to indemnify the trustee for its costs related to investigations made in connection with repurchase actions. | ||||||||||||||
GSEs and certain other quasi-governmental entities were among the purchasers of certificates in FH proprietary securitizations. As such, they are entitled to the benefits of the same representations and warranties as other investors. However, under federal law some entities of that sort are permitted to undertake, independently of other investors, reviews of FHN’s mortgage loan origination and servicing files. Such reviews are commenced using a subpoena process. If, because of such reviews, an entity determines there has been a breach of a representation or warranty that has had a material and adverse effect on the interests of the investors in any mortgage loan, the entity may attempt to persuade or compel enforcement of a repurchase obligation against FHN by the securitization trustee. As discussed in more detail below in "Other Government Entity Loan Reviews," FHN has received several such subpoenas. | ||||||||||||||
The FH proprietary securitization trustee generally may initiate a loan review, without prior official action by investors, for the purpose of determining compliance with applicable representations and warranties with respect to any or all of the active FH proprietary securitizations. If non-compliance is discovered, the trustee may seek repurchase or other relief. In addition, FHN’s trustee is a defendant in a lawsuit in which the plaintiffs have asserted that the trustee has duties under federal law to review loans and otherwise act against FHN outside of the duties specified in the applicable trust documents. At December 31, 2014, FHN's trustee had made no claims against FHN and no litigation by the trustee was pending against FHN. | ||||||||||||||
FHN is not able to estimate any liability for loan repurchase risk related to FH proprietary securitizations. FHN similarly is not able to estimate a range of reasonably possible losses associated with this risk, and no such amounts are included in the aggregate range discussed above. Those inabilities are due to significant uncertainties regarding: the absence of claims made; the nature and outcome of any claims process or related settlement discussions if pursued; the outcome of litigation if litigation is pursued; the identity and value of assets that FHN may be required to repurchase to the extent asset repurchase is sought; and the lack of precedent claims. | ||||||||||||||
Also unlike loans sold to the GSEs, interests in securitized loans were sold as securities under prospectuses or other offering documents subject to the disclosure requirements of applicable federal and state securities laws. As an alternative to pursuing a claim for breach of representations and warranties through the trustee as mentioned above, an investor could pursue (and in certain cases mentioned below, have pursued or are pursuing) a claim alleging that the prospectus or other disclosure documents were deficient by containing materially false or misleading information or by omitting material information. A claim for such disclosure deficiencies typically could be brought under applicable federal or state securities statutes. Statutory remedies typically include rescission of the investment or monetary damages measured in relation to the original investment made. Any such statutory claim would be subject to applicable limitation periods and other statutory defenses. If a plaintiff properly made and proved its allegations, the plaintiff might attempt to claim that damages could include loss of market value on the investment even if there were little or no credit loss in the underlying loans. Claims based on alleged disclosure deficiencies also could be brought as traditional fraud or negligence claims with a wider scope of damages possible. Each investor could bring such a claim individually, without acting through the trustee to pursue a claim for breach of representations and warranties, and investors could attempt joint claims or attempt to pursue claims on a class-action basis. Claims of this sort have been resolved in a litigation context, unlike FHN's GSE repurchase experience, and several claims still are pending as mentioned above. FHN's analysis of loss content and establishment of appropriate liabilities in these cases follow principles and practices associated with litigation matters, including an analysis of available procedural and substantive defenses in each particular case, a determination of whether material loss is probable, and (if so) an estimation of the amount of ultimate loss, if any can be estimated. Alternatively, under applicable financial accounting guidance, a liability may be established or increased in the course of negotiations for settlement of a matter, whether or not a settlement results. | ||||||||||||||
Other Government Entity Loan Reviews | ||||||||||||||
Certain government entities acting on behalf of several purchasers of FH proprietary and other securitizations have subpoenaed information from FHN and others. The FHLB of San Francisco and FHLB of Atlanta have subpoenaed FHN for purposes of a loan origination review related to certain of their securitization investments. Collectively, the FHLB subpoenas seek information concerning a number of FH proprietary securitizations. In addition, the FDIC, acting on behalf of certain failed banks, has also subpoenaed FHN related to FH proprietary securitization investments by those institutions. | ||||||||||||||
The FDIC and FHLB of San Francisco subpoenas also concern loans sold by FHN to non-Agency purchasers on a whole-loan basis which were included by those purchasers in non-FH securitizations. See "Other Whole-Loan Sales" above for additional information concerning loans originated and sold by FHN that were included in the purchasers' own securitizations. In addition, the FHLB of Seattle has subpoenaed FHN in connection with FHN-originated loans that were included in non-FH securitizations. The FDIC subpoena fails to identify the specific investments made by the failed banks. Other than the dollar amounts of those investments which are the subject of the FDIC's active litigation as receiver for Colonial Bank, FHN has limited information regarding at least some of the loans under review or the dollar amounts invested in relation to the FDIC and FHLB subpoenas. The FDIC subpoenas partially overlap with the ongoing litigation matters mentioned above under "Litigation - Loss Contingencies." | ||||||||||||||
The subpoenas discussed above relate to ongoing reviews which ultimately could result in claims against FHN. The original and current certificate balances of the FH proprietary securitizations in which the FHLB of San Francisco invested are $501.1 million and $137.8 million, respectively. The original and current certificate balances of the FH proprietary securitizations in which the FHLB of Atlanta invested are $56.1 million and $6.7 million, respectively. There are limitations as to FHN's knowledge of the amount of FH proprietary securitizations investments that are subject to the FDIC and FHLB of San Francisco subpoenas. Since the reviews at this time are not repurchase claims, the associated loans are not considered part of the repurchase pipeline. | ||||||||||||||
Private Mortgage Insurance | ||||||||||||||
MI was required by GSE rules for certain of the loans sold to GSEs and was also provided for certain of the loans that were securitized. MI generally was provided for the first lien loans sold or securitized having a loan-to-value ratio at origination of greater than 80 percent. Although unresolved MI cancellation notices related to GSE-owned loans are not formal repurchase requests, FHN includes these in the active repurchase request pipeline to the extent they relate to securitized loans or are excluded from the DRA settlements with the GSEs mentioned above. FHN tracks and monitors MI cancellation notices received when assessing the overall adequacy of FHN's repurchase liability. | ||||||||||||||
Established Repurchase Liability | ||||||||||||||
Based on currently available information and experience to date, FHN has evaluated its loan repurchase exposure and has accrued for losses of $120.1 million and $165.8 million as of December 31, 2014 and 2013, respectively, including a smaller amount related to equity-lending junior lien loan sales. FHN used all available information to estimate losses related to potential repurchase obligations not included in the DRAs including future MI rescissions, prior bulk servicing sales where FHN is no longer the directly responsible party but still has repurchase obligations, and obligations related to certain other loan sales, including repurchase obligations related to non-GSE loan sales. Additionally, FHN continues to monitor claims included in the active pipeline, historical repurchase rates, and loss severities. Accrued liabilities for FHN’s estimate of these obligations are reflected in Other liabilities on the Consolidated Statements of Condition. Charges to increase the liability are included within Repurchase and foreclosure provision on the Consolidated Statements of Income. The estimates are based upon currently available information and fact patterns that exist as of the balance sheet dates and could be subject to future changes. Changes to any one of these factors could significantly impact the estimate of FHN's liability. | ||||||||||||||
Servicing and Foreclosure Practices | ||||||||||||||
Through third quarter 2013, FHN serviced a predominately first lien mortgage loan portfolio with an unpaid principal balance of approximately $15 billion as of September 30, 2013. In fourth quarter 2013 and first quarter 2014, sales of substantially all remaining servicing were consummated under a contract discussed below. As a result, the loan portfolio serviced by FHN at December 31, 2014 had an unpaid principal balance of $252.8 million. | ||||||||||||||
Prior to those sales, a substantial portion of FHN's first lien portfolio was serviced through subservicing arrangements. FHN’s national mortgage and servicing platforms were sold in August 2008 and the related servicing activities, including foreclosure and loss mitigation practices, of the then-remaining portion of FHN’s mortgage servicing portfolio were outsourced through a three year subservicing arrangement (the “2008 subservicing agreement”) with the platform buyer (the “2008 subservicer”). FHN entered into a replacement agreement in 2011 with a new subservicer (the “2011 subservicer”). In third quarter 2013 FHN contracted to sell substantially all of its remaining servicing obligations and servicing assets (including advances) to the 2011 subservicer. Transfer of the servicing was substantially completed in during first quarter 2014. Servicing still retained by FHN continues to be subserviced by the 2011 subservicer. | ||||||||||||||
FHN is subject to losses in its current and former loan servicing portfolio due to loan foreclosures. Foreclosure exposure arises from certain government agency agreements, as well as agreements with MI insurers, which limit the agency’s repayment guarantees on foreclosed loans and allow compensatory fees and penalties and curtailments of claims for violations of agreements or insurance policies, resulting in losses to the servicer. Foreclosure exposure also includes real estate costs, marketing costs, and costs to maintain properties, especially during protracted resale periods in geographic areas of the country negatively impacted by declining home values. | ||||||||||||||
In 2011 regulators entered into consent decrees with several institutions, including FHN’s 2008 subservicer, requiring comprehensive revision of loan modification and foreclosure processes, including the remediation of borrowers that have experienced financial harm. In 2012 the 2008 subservicer, along with certain others, entered into a settlement agreement with the OCC which replaced the consent decree. | ||||||||||||||
Under FHN’s 2008 subservicing agreement, the 2008 subservicer had the contractual right to follow FHN’s prior servicing practices as they existed 180 days prior to August 2008 until the 2008 subservicer became aware that such practices did not comply with applicable servicing requirements, subject to the subservicer’s obligation to follow accepted servicing practices, applicable law, and new requirements, including evolving interpretations of such practices, law and requirements. In the event of a dispute such as that described below between FHN and the 2008 subservicer over any liabilities for the subservicer’s servicing and management of foreclosure or loss mitigation processes, FHN cannot predict the costs that may be incurred. | ||||||||||||||
FHN’s 2008 subservicer has presented invoices and made demands under the 2008 subservicing agreement that FHN pay certain costs related to tax service contracts, miscellaneous transfer costs, servicing timeline penalties, compensatory damages, and curtailments charged by GSEs and a government agency prior to FHN’s transfer of subservicing to its 2011 subservicer in the amount of $8.6 million. The 2008 subservicer also is seeking reimbursement from FHN for expenditures the 2008 subservicer has incurred or anticipates it will incur under the consent decree and supervisory guidance relating to foreclosure review (collectively, “foreclosure review expenditures”). The foreclosure review expenditures for which the 2008 subservicer has sought reimbursement total $34.9 million. Although the most recent request was made in 2012, additional reimbursement requests may be made. FHN disagrees with the 2008 subservicer's position and has made no reimbursements. In the event that the 2008 subservicer pursues its position through litigation, FHN believes it has meritorious defenses and intends to defend itself vigorously. FHN also believes that certain amounts billed to FHN by agencies for penalties and curtailments on claims by MI insurers for actions by the 2008 subservicer prior to the 2011 subservicing transfer but billed after that date are owed by the 2008 subservicer. This disagreement has the potential to result in litigation and, in any such future litigation, the claim against FHN may be substantial. | ||||||||||||||
Other Disclosures - Visa Matters | ||||||||||||||
FHN is a member of the Visa USA network. In October 2007, the Visa organization of affiliated entities completed a series of global restructuring transactions to combine its affiliated operating companies, including Visa USA, under a single holding company, Visa Inc. (“Visa”). Upon completion of the reorganization, the members of the Visa USA network remained contingently liable for certain Visa litigation matters (the "Covered Litigation"). Based on its proportionate membership share of Visa USA, FHN recognized a contingent liability in fourth quarter 2007 related to this contingent obligation. In March 2008, Visa completed its initial public offering (“IPO”) and funded an escrow account from its IPO proceeds to be used to make payments related to the Visa litigation matters. FHN received approximately 2.4 million Class B shares in conjunction with Visa’s IPO. | ||||||||||||||
Conversion of these shares into Class A shares of Visa and, with limited exceptions, transfer of these shares is restricted until the final resolution of the covered litigation. In conjunction with the prior sales of Visa Class B shares in December 2010 and September 2011, FHN and the purchasers entered into derivative transactions whereby FHN will make, or receive, cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. The conversion ratio is adjusted when Visa deposits funds into the escrow account to cover certain litigation. | ||||||||||||||
In July 2012, Visa and MasterCard announced a joint settlement (the "Settlement") related to the Payment Card Interchange matter, one of the Covered Litigation matters. Based on the amount of the Settlement attributable to Visa and an assessment of FHN's contingent liability accrued for Visa litigation matters, the Settlement did not have a material impact on FHN. In September 2014, Visa funded $450 million into the escrow account, and as a result FHN made a payment to the derivative counterparty of $2.4 million in October 2014. As of December 31, 2014, the conversion ratio is 41 percent, and the contingent liability is $.8 million. Future funding of the escrow would dilute this exchange rate by an amount that is not determinable at present. | ||||||||||||||
As of December 31, 2014 and 2013, the derivative liabilities were $5.2 million and $2.9 million, respectively. | ||||||||||||||
FHN now holds approximately 1.1 million Visa Class B shares. FHN’s Visa shares are not considered to be marketable and therefore are included in the Consolidated Statements of Condition at their historical cost of $0. The Settlement has been approved by the court but that approval has been appealed by certain of the plaintiffs. Accordingly, the outcome of this matter remains uncertain. Additionally, other Covered Litigation matters are also pending judicial resolution, including new matters filed by class members who opted-out of the Settlement. So long as any Covered Litigation matter remains pending, FHN's ability to transfer its Visa holdings continues to be restricted. | ||||||||||||||
Other Disclosures – Indemnification Agreements and Guarantees | ||||||||||||||
In the ordinary course of business, FHN enters into indemnification agreements for legal proceedings against its directors and officers and standard representations and warranties for underwriting agreements, merger and acquisition agreements, loan sales, contractual commitments, and various other business transactions or arrangements. The extent of FHN’s obligations under these agreements depends upon the occurrence of future events; therefore, it is not possible to estimate a maximum potential amount of payouts that could be required with such agreements. |
Pension_Savings_And_Other_Empl
Pension, Savings, And Other Employee Benefits | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Pension, Savings, And Other Employee Benefits [Abstract] | ||||||||||||||||||||
Pension, Savings, And Other Employee Benefits | Note 19 – Pension, Savings, and Other Employee Benefits | |||||||||||||||||||
Pension plan. FHN sponsors a noncontributory, qualified defined benefit pension plan to employees hired or re-hired on or before September 1, 2007. Pension benefits are based on years of service, average compensation near retirement or other termination, and estimated social security benefits at age 65. Benefits under the plan are “frozen” so that years of service and compensation changes after 2012 do not affect the benefit owed. The contributions are based upon actuarially determined amounts necessary to fund the total benefit obligation. FHN did not make any contributions to the qualified pension plan in 2014. Future decisions to contribute to the plan will be based upon pension funding requirements under the Pension Protection Act, the maximum amount deductible under the Internal Revenue Code, and the actual performance of plan assets. Management has assessed the need for future contributions, and does not currently anticipate that FHN will make a contribution to the qualified pension plan in 2015. | ||||||||||||||||||||
FHN also maintains non-qualified plans including a supplemental retirement plan that covers certain employees whose benefits under the qualified pension plan have been limited by tax rules. These other non-qualified plans are unfunded, and contributions to these plans cover all benefits paid under the non-qualified plans. Payments made under the non-qualified plans were $5.0 million for 2014. FHN anticipates making benefit payments under the non-qualified plans of $5.0 million in 2015. | ||||||||||||||||||||
Savings plan. FHN provides all qualifying full-time employees with the opportunity to participate in the FHN tax qualified 401(k) savings plan. The qualified plan allows employees to defer receipt of earned salary, up to tax law limits, on a tax-advantaged basis. Accounts, which are held in trust, may be invested in a wide range of mutual funds and in FHN common stock. Up to tax law limits, FHN provides a 100 percent match for the first 6 percent of salary deferred in both 2014 and 2013, with company match contributions invested according to a participant’s current investment elections. Prior to the discontinuance of the accrual of benefits under the qualified pension plan as of December 31, 2012, FHN provided a company match of 50 percent of the first 6 percent of salary deferred, subject to Code limitations, with the company match contribution initially invested in company stock. The savings plan also allows employees to invest in a non-leveraged ESOP. Cash dividends on shares held by the ESOP are charged to retained earnings and the shares are considered outstanding in computing earnings per share. The number of allocated shares held by the ESOP totaled 9,160,613 on December 31, 2014. Beginning in 2013, FHN provides a restorative benefit through a non-qualified savings restoration plan to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. | ||||||||||||||||||||
FHN also provides “flexible dollars” to assist employees with the cost of annual benefits and/or allow the employee to contribute to his or her qualified savings plan. These “flexible dollars” are pre-tax contributions and are based upon the employees’ years of service and qualified compensation. Contributions made by FHN through the flexible benefits plan and the company matches were $20.4 million for 2014, $20.4 million for 2013 and $16.8 million for 2012. | ||||||||||||||||||||
Other employee benefits. FHN provides postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees. The postretirement medical plan is contributory. For the 2013 plan year, certain retiree contributions were adjusted based on criteria that were a combination of the employee’s age and/or years of service. For the 2014 plan year FHN contributed a fixed amount for each participant. FHN’s postretirement benefits include prescription drug benefits. The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (“the Act”) introduced a prescription drug benefit under Medicare Part D as well as a federal subsidy to sponsors of retiree health care that provide a benefit that is actuarially equivalent to Medicare Part D. At this time, FHN does not anticipate receiving a prescription drug subsidy under the Act. In third quarter 2013, FHN notified participants of revisions to the retiree medical plan effective January 1, 2014, which represented a negative plan amendment, the effects of which are being prospectively amortized beginning in third quarter 2013. | ||||||||||||||||||||
Actuarial assumptions. FHN’s process for developing the long-term expected rate of return of pension plan assets is based on capital market exposure as the source of investment portfolio returns. Capital market exposure refers to the plan’s broad allocation of its assets to asset classes, such as large cap equity and fixed income. FHN also considers expectations for inflation, real interest rates, and various risk premiums based primarily on the historical risk premium for each asset class. The expected return is based upon a thirty year time horizon. Consequently, FHN selected a 5.85 percent assumption for 2015 for the defined benefit pension plan and a 2.30 percent assumption for postretirement medical plan assets dedicated to employees who retired prior to January 1, 1993. FHN selected a 6.35 percent assumption for postretirement medical plan assets dedicated to employees who retired after January 1, 1993. | ||||||||||||||||||||
The discount rates for the three years ended 2014 for pension and other benefits were determined by using a hypothetical AA yield curve represented by a series of annualized individual discount rates from one-half to thirty years. The discount rates are selected based upon data specific to FHN’s plans and employee population. The bonds used to create the hypothetical yield curve were subjected to several requirements to ensure that the resulting rates were representative of the bonds that would be selected by management to fulfill the company’s funding obligations. In addition to the AA rating, only non-callable bonds were included. Each bond issue was required to have at least $250 million par outstanding so that each issue was sufficiently marketable. Finally, bonds more than two standard deviations from the average yield were removed. When selecting the discount rate, FHN matches the duration of high quality bonds with the duration of the obligations of the plan as of the measurement date. High quality corporate bonds experienced decreasing yields in 2014 resulting in a discount rate lower than 2013 and therefore a higher benefit obligation. For all years presented, the measurement date of the benefit obligations and net periodic benefit costs was December 31. | ||||||||||||||||||||
The actuarial assumptions used in the defined benefit pension plan and other employee benefit plans were as follows: | ||||||||||||||||||||
Benefit Obligations | Net Periodic Benefit Cost | |||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||
Discount rate | ||||||||||||||||||||
Qualified pension | 4.30% | 5.15% | 4.35% | 5.15% | 4.35% | 5.10% | ||||||||||||||
Nonqualified pension | 4.00% | 4.70% | 3.85% | 4.70% | 3.85% | 4.75% | ||||||||||||||
Other nonqualified pension | 3.35% | 4.05% | 3.20% | 4.05% | 3.20% | 4.40% | ||||||||||||||
Postretirement benefits | 3.45% - 4.45% | 4.10% - 5.35% | 3.80% - 4.55% | 4.10% - 5.35% | 3.80% - 4.55% | 4.75% - 5.25% | ||||||||||||||
Expected long-term rate of return | ||||||||||||||||||||
Qualified pension/postretirement benefits | 5.85% | 6.60% | 6.05% | 6.60% | 6.05% | 6.90% | ||||||||||||||
Postretirement benefit (retirees post January 1, 1993) | 6.35% | 6.95% | 6.05% | 6.95% | 6.05% | 6.90% | ||||||||||||||
Postretirement benefit (retirees prior to January 1, 1993) | 2.30% | 2.85% | 3.93% | 2.85% | 3.93% | 4.49% | ||||||||||||||
Rate of compensation increase (a) | N/A | N/A | 4.10% | N/A | N/A | 4.10% | ||||||||||||||
(a) Due to the pension plan freeze as of December 31, 2012, the rate of compensation increase no longer applies to the qualified pension plan. | ||||||||||||||||||||
In 2014, the Society of Actuaries published updated life expectancy tables based upon a study of recent non-governmental pension plan experience in the United States. These new tables reflect the increased longevity of pension plan participants as well as projected future improvements in life expectancy in comparison to prior life expectancy tables. FHN included the newly released tables within the annual re-measurement of its pension and postretirement plan calculations for 2014. Consideration of the new life expectancy tables resulted in an increase of the projected benefit obligations for FHN’s pension plans of approximately 8 percent in comparison to use of the former tables. | ||||||||||||||||||||
The health care cost trend rate assumption previously had a significant effect on the amounts reported. However, given the change to a defined contribution subsidy model for postretirement medical insurance benefits, a one-percentage-point change in assumed health care cost trend rates would have no impact on the reported service and interest cost components or the postretirement benefit obligation at the end of the plan year since the annual rate of increase in health care costs was no longer included in the actuarial assumptions for that plan for year end 2014 measurements. | ||||||||||||||||||||
The components of net periodic benefit cost for the plan years 2014, 2013 and 2012 are as follows: | ||||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||
Components of net periodic benefit cost | ||||||||||||||||||||
Service cost (a) | $ | 56 | $ | 63 | $ | 14,800 | $ | 207 | $ | 460 | $ | 467 | ||||||||
Interest cost | 34,915 | 32,361 | 33,040 | 1,754 | 2,033 | 2,298 | ||||||||||||||
Expected return on plan assets | -40,093 | -34,946 | -39,813 | -1,025 | -816 | -915 | ||||||||||||||
Amortization of unrecognized: | ||||||||||||||||||||
Transition (asset)/obligation | - | - | - | - | - | 736 | ||||||||||||||
Prior service cost/(credit) | 346 | 353 | 398 | -1,163 | -299 | -9 | ||||||||||||||
Actuarial (gain)/loss (b) | 6,898 | 9,832 | 35,999 | -1,006 | -171 | -488 | ||||||||||||||
Net periodic benefit cost | 2,122 | 7,663 | 44,424 | -1,233 | 1,207 | 2,089 | ||||||||||||||
ASC 715 curtailment/settlement expense (c) | - | 370 | 1,231 | - | - | - | ||||||||||||||
ASC 715 special termination benefits (d) | 1,009 | - | - | - | - | - | ||||||||||||||
Total periodic benefit costs | $ | 3,131 | $ | 8,033 | $ | 45,655 | $ | -1,233 | $ | 1,207 | $ | 2,089 | ||||||||
(a) 2014 and 2013 decline in total pension benefits service cost reflects the freeze of the pension plans effective December 31, 2012. | ||||||||||||||||||||
(b) 2014 and 2013 decline in recognition of total pension benefits actuarial loss driven by the change in amortization term from the estimated average remaining service period of active employees to the estimated average remaining life expectancy of the remaining participants in conjunction with the freeze of the pension plans on December 31, 2012. | ||||||||||||||||||||
(c) In 2013 and 2012, lump sum payments under the supplemental retirement plan triggered settlement accounting. In accordance with its practice, FHN performed a remeasurement of the plan in conjunction with the settlement and realized an ASC 715 settlement expense. | ||||||||||||||||||||
(d) In 2014, a one-time special termination benefits charge was recognized related to recalculation of a participant’s benefit under a non-qualified plan upon retirement. | ||||||||||||||||||||
The long-term expected rate of return is applied to the market-related value of plan assets in determining the expected return on plan assets. FHN determines the market-related value of plan assets using a calculated value that recognizes changes in the fair value of plan assets over five years, as permitted by GAAP. | ||||||||||||||||||||
The following tables set forth the plans' benefit obligations and plan assets for 2014 and 2013: | ||||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||
Benefit obligation, beginning of year | $ | 693,716 | $ | 766,947 | $ | 38,464 | $ | 54,716 | ||||||||||||
Service cost | 56 | 63 | 207 | 460 | ||||||||||||||||
Interest cost | 34,915 | 32,361 | 1,754 | 2,033 | ||||||||||||||||
Plan amendments | - | - | - | -10,678 | ||||||||||||||||
Actuarial (gain)/loss (a) (b) | 157,619 | -78,617 | -3,293 | -7,237 | ||||||||||||||||
Actual benefits paid | -27,462 | -27,038 | -1,804 | -1,030 | ||||||||||||||||
Expected Medicare Part D reimbursement | - | - | - | 200 | ||||||||||||||||
Special termination benefits | 1,009 | - | - | - | ||||||||||||||||
Benefit obligation, end of year | $ | 859,853 | $ | 693,716 | $ | 35,328 | $ | 38,464 | ||||||||||||
Change in Plan Assets | ||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 640,605 | $ | 633,972 | $ | 16,360 | $ | 14,288 | ||||||||||||
Actual return on plan assets | 78,491 | 28,699 | 973 | 2,659 | ||||||||||||||||
Employer contributions | 3,915 | 4,972 | 1,110 | 443 | ||||||||||||||||
Actual benefits paid - settlement payments | - | -1,160 | -1,804 | -1,030 | ||||||||||||||||
Actual benefits paid - other payments | -27,462 | -25,878 | - | - | ||||||||||||||||
Fair value of plan assets, end of year | $ | 695,549 | $ | 640,605 | $ | 16,639 | $ | 16,360 | ||||||||||||
Funded status of the plans | $ | -164,304 | $ | -53,111 | $ | -18,689 | $ | -22,104 | ||||||||||||
Amounts Recognized in the Statements of | ||||||||||||||||||||
Financial Condition | ||||||||||||||||||||
Other assets | $ | - | $ | - | $ | 11,882 | $ | 9,158 | ||||||||||||
Other liabilities | -164,304 | -53,111 | -30,571 | -31,262 | ||||||||||||||||
Net asset/(liability) at end of year | $ | -164,304 | $ | -53,111 | $ | -18,689 | $ | -22,104 | ||||||||||||
2013 change in other benefits actuarial (gain)/loss driven by a change in the retiree medical plan. | ||||||||||||||||||||
2014 amounts primarily affected by decrease in the discount rates and consideration of the new life expectancy tables. | ||||||||||||||||||||
The qualified and nonqualified pension plans were underfunded as of December 31, 2014, by $114.3 million, and $50.0 million, respectively. At year-end 2013, the qualified and nonqualified pension plans were underfunded by $6.3 million, and $46.9 million, respectively. Because of the pension freeze as of the end of 2012, the pension benefit obligation and the accumulated benefit obligation are the same as of December 31, 2014 and 2013. The projected benefit obligation and the accumulated benefit obligation for the qualified pension plan exceeded all corresponding plan assets as of December 31, 2014 and 2013. | ||||||||||||||||||||
Unrecognized transition assets and obligations, unrecognized actuarial gains and losses, and unrecognized prior service costs and credits are recognized as a component of accumulated other comprehensive income. Balances reflected in accumulated other comprehensive income on a pre-tax basis for the years ended December 31, 2014 and 2013 consist of: | ||||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income | ||||||||||||||||||||
Prior service cost/(credit) | $ | 581 | $ | 927 | $ | -8,577 | $ | -9,740 | ||||||||||||
Net actuarial (gain)/loss | 354,264 | 241,941 | -10,664 | -8,429 | ||||||||||||||||
Total | $ | 354,845 | $ | 242,868 | $ | -19,241 | $ | -18,169 | ||||||||||||
The pre-tax amounts recognized in other comprehensive income during 2014 and 2013 were as follows: | ||||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Changes in plan assets and benefit obligation recognized in other comprehensive income | ||||||||||||||||||||
Net actuarial (gain)/loss arising during measurement period (a) | $ | 119,217 | $ | -72,376 | $ | -3,241 | $ | -9,080 | ||||||||||||
Prior service cost/(credit) arising during measurement period | - | - | - | -10,678 | ||||||||||||||||
Items amortized during the measurement period: | ||||||||||||||||||||
Net transition (asset)/obligation | - | - | - | - | ||||||||||||||||
Prior service credit/(cost) | -346 | -353 | 1,163 | 299 | ||||||||||||||||
Net actuarial gain/(loss) | -6,898 | -10,202 | 1,006 | 171 | ||||||||||||||||
Total recognized in other comprehensive income | $ | 111,973 | $ | -82,931 | $ | -1,072 | $ | -19,288 | ||||||||||||
2014 amounts primarily affected by decrease in the discount rates and consideration of the new life expectancy tables. | ||||||||||||||||||||
FHN utilizes the minimum amortization method in determining the amount of actuarial gains or losses to include in plan expense. Under this approach, the net deferred actuarial gain or loss that exceeds a threshold is amortized over the average remaining service period of active plan participants. The threshold is measured as the greater of: 10 percent of a plan’s projected benefit obligation as of the beginning of the year or 10 percent of the market-related value of plan assets as of the beginning of the year. In conjunction with the freeze of the pension plans on December 31, 2012, all participants are considered inactive under applicable accounting guidance for determining the appropriate period for prospective amortization of actuarial gains and losses. Thus, effective January 1, 2013, FHN changed the amortization term for actuarial gains and losses from the estimated average remaining service period of active employees to the estimated average remaining life expectancy of the remaining participants. | ||||||||||||||||||||
The estimated net actuarial (gain)/loss, prior service cost/(credit), and transition (asset)/obligation for the plan that will amortize from accumulated other comprehensive income into net periodic benefit cost during the following fiscal year are as follows: | ||||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Prior service cost/(credit) | $ | 332 | $ | 346 | $ | -1,163 | $ | -1,163 | ||||||||||||
Net actuarial (gain)/loss | 9,582 | 6,539 | -976 | -755 | ||||||||||||||||
FHN does not expect any defined benefit pension plan’s and other employee benefit plan’s assets to be returned to FHN in 2015. | ||||||||||||||||||||
The following table provides detail on expected benefit payments, which reflect expected future service, as appropriate: | ||||||||||||||||||||
Pension | Other | |||||||||||||||||||
(Dollars in thousands) | Benefits | Benefits | ||||||||||||||||||
2015 | $ | 29,897 | $ | 1,427 | ||||||||||||||||
2016 | 32,497 | 1,462 | ||||||||||||||||||
2017 | 34,434 | 1,502 | ||||||||||||||||||
2018 | 36,405 | 1,548 | ||||||||||||||||||
2019 | 38,266 | 1,597 | ||||||||||||||||||
2020-2024 | 219,771 | 8,831 | ||||||||||||||||||
Plan assets. FHN’s overall investment goal is to create, over the life of the pension plan and retiree medical plan, an adequate pool of sufficiently liquid assets to support the pension benefit obligations to participants, retirees, and beneficiaries, as well as to partially support the medical obligations to retirees and beneficiaries. Thus, the pension plan and retiree medical plan seek to achieve a high level of investment return consistent with a prudent level of portfolio risk. | ||||||||||||||||||||
FHN has adopted an investment strategy that reduces equities and increases long duration fixed income allocations over time with the intention of reducing volatility of funded status and pension costs. At December 31, 2014 and 2013, the target allocation to equities was 32.5 percent and the target allocation to fixed income and cash equivalents was 67.5 percent. Equity securities, most of which are included in common and collective funds, primarily include investments in large capital and small capital companies located in the U.S., as well as international equity securities in developed and emerging markets. Fixed income securities include U.S. treasuries, corporate bonds of companies from diversified industries, municipal bonds, and foreign bonds. Fixed income investments generally have long durations consistent with the estimated pension liabilities of FHN. Retiree medical funds are kept in short-term investments, primarily money market funds and mutual funds. On December 31, 2014 and 2013, FHN did not have any significant concentrations of risk within the plan assets related to the pension plan or the retiree medical plan. | ||||||||||||||||||||
The fair value of FHN’s pension plan assets at December 31, 2014 and December 31, 2013, by asset category classified using the Fair Value measurement hierarchy is shown in the table below. See Note 25 – Fair Value of Assets and Liabilities for more details about Fair Value measurements. | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 5,817 | $ | - | $ | - | $ | 5,817 | ||||||||||||
Equity securities: | ||||||||||||||||||||
U.S. mid capital | 10,803 | - | - | 10,803 | ||||||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasuries | - | 3,684 | - | 3,684 | ||||||||||||||||
Corporate, municipal and foreign bonds | - | 230,808 | - | 230,808 | ||||||||||||||||
Common and collective funds: | ||||||||||||||||||||
Fixed income | - | 231,666 | - | 231,666 | ||||||||||||||||
U.S. large capital | - | 119,234 | - | 119,234 | ||||||||||||||||
U.S. small capital | - | 39,449 | - | 39,449 | ||||||||||||||||
International | - | 54,088 | - | 54,088 | ||||||||||||||||
Total | $ | 16,620 | $ | 678,929 | $ | - | $ | 695,549 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 9,347 | $ | - | $ | - | $ | 9,347 | ||||||||||||
Equity securities: | ||||||||||||||||||||
U.S. mid and small capital | 63,834 | - | - | 63,834 | ||||||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasuries | - | 4,585 | - | 4,585 | ||||||||||||||||
Corporate, municipal and foreign bonds | - | 199,896 | - | 199,896 | ||||||||||||||||
Common and collective funds: | ||||||||||||||||||||
Fixed income | - | 205,580 | - | 205,580 | ||||||||||||||||
U.S. large capital | - | 102,702 | - | 102,702 | ||||||||||||||||
International | - | 54,661 | - | 54,661 | ||||||||||||||||
Total | $ | 73,181 | $ | 567,424 | $ | - | $ | 640,605 | ||||||||||||
Any shortfall of investment performance compared to investment objectives should be explainable in terms of general economic and capital market conditions. The Retirement Investment Committee, comprised of senior managers within the organization, meets regularly to review asset performance and potential portfolio rebalancing. Rebalancing of pension assets is based upon a de-risking glide path as well as liquidity needs for plan benefits. Rebalancing occurs on a quarterly basis or as improvements in funded status merit changes to the targeted allocations, as defined in the de-risking glide path. The Committee also periodically reviews other elements of risk for its pension investment program, including the organization’s ability to assume pension investment risk. | ||||||||||||||||||||
The fair value of FHN's retiree medical plan assets at December 31, 2014 and December 31, 2013 by asset category are as follows: | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 425 | $ | - | $ | - | $ | 425 | ||||||||||||
Mutual funds: | ||||||||||||||||||||
Equity mutual funds | 9,627 | - | - | 9,627 | ||||||||||||||||
Fixed income mutual funds | 6,587 | - | - | 6,587 | ||||||||||||||||
Total | $ | 16,639 | $ | - | $ | - | $ | 16,639 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 600 | $ | - | $ | - | $ | 600 | ||||||||||||
Equity securities: | ||||||||||||||||||||
U.S. small capital | 1,613 | - | - | 1,613 | ||||||||||||||||
Mutual funds: | ||||||||||||||||||||
Equity mutual funds | 9,102 | - | - | 9,102 | ||||||||||||||||
Fixed income mutual funds | 4,511 | - | - | 4,511 | ||||||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasuries | - | 119 | - | 119 | ||||||||||||||||
Corporate and foreign bonds | - | 415 | - | 415 | ||||||||||||||||
Total | $ | 15,826 | $ | 534 | $ | - | $ | 16,360 | ||||||||||||
The number of shares of FHN common stock held by the qualified pension plan was 792,607 for 2014 and 2013. |
Stock_Options_Restricted_Stock
Stock Options, Restricted Stock Incentive, and Dividend Reinvestment Plans | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Employee Benefits And Share Based Compensation [Abstract] | |||||||||||
Stock Option, Restricted Stock Incentive, And Dividend Reinvestment Plans [Text Block] | Note 20 – Stock Option, Restricted Stock Incentive, and Dividend Reinvestment Plans | ||||||||||
Equity compensation plans | |||||||||||
FHN currently has one plan, its shareholder-approved Equity Compensation Plan ("ECP"), which authorizes the grant of new stock-based awards to employees and directors. Most awards outstanding at year end were granted under the ECP, though older stock options and certain deferred stock units remain outstanding under several plans which no longer are active. The ECP authorizes a broad range of award types, including restricted shares, stock units, and stock options. Stock units may be paid in shares or cash, depending upon the terms of the award. The ECP also authorizes the grant of stock appreciation rights, though no such grants have been made. Awards generally have service-vesting conditions, meaning that the employee must remain employed by FHN for certain periods in order for the award to vest. Some outstanding awards also have performance conditions, and one outstanding award has performance conditions associated with FHN's stock price. FHN operates the ECP by establishing award programs, each of which is intended to cover a specific need. Programs are created, changed, or terminated as needs change. Unvested awards have service and/or performance conditions which must be met in order for the shares to vest. On December 31, 2014, there were 8,782,972 shares available for new awards under the ECP. The ECP imposes a separate limit on full-value (non-option) awards which is included within the overall limit; at December 31, 2014 there were 8,576,003 shares available to be granted as full-value awards. | |||||||||||
Service condition full-value awards. Awards may be granted with service conditions only. In recent years programs using these awards have included an annual program for selected management employees, a mandatory deferral program for executives tied to annual bonuses earned, other mandatory deferral programs, various retention programs, and special hiring-incentive situations. Details of the awards vary by program, but most are settled in shares at vesting rather than cash, and vesting rarely begins earlier than the first anniversary of grant and rarely extends beyond the fourth anniversary of grant. Annual programs tend to use multiple annual vesting dates while retention programs tend to use a single vesting date, but there are exceptions. | |||||||||||
Performance condition awards. Under FHN's long-term incentive and corporate performance programs, performance stock units (executives) and cash units (selected management employees) are granted annually and vest only if predetermined performance measures are met. The measures are changed each year based on goals and circumstances prevailing at the time of grant. In recent years the performance periods have been three years, with service-vesting on the third anniversary of the grant. Recent annual performance awards require pro-rated forfeiture for performance falling between a threshold level and a maximum, but all-or-nothing awards have been granted and one such award was outstanding at year-end. Performance awards sometimes are used to provide a narrow, targeted incentive to a single person or small group; one such award which represents a market performance condition to FHN's CEO is discussed in the next paragraph. Of the annual program awards paid during 2014 or outstanding on December 31, 2014: performance conditions related to the 2010 units were met at the 50 percent payout level, so that 25 percent were paid in 2013 and 25 percent in 2014 with the remaining 50 percent forfeited; performance conditions related to the 2011 units were met at the 87.5 percent payout level and were paid in 2014; the three-year performance period of the 2012 units has ended but performance is measured relative to peers and has not yet been determined; and, the three-year performance periods for the 2013 and 2014 units have not ended. | |||||||||||
Market condition award. In 2012, FHN made a special grant of performance stock units to FHN's Chief Executive Officer which will vest at the end of a five year performance period. The award has no provision for pro-rated payment based on partial performance. The award's two alternative performance goals are: FHN's common stock price achieves and maintains a certain level for a certain period of time; or FHN's total shareholder return during the entire period achieves a certain level. | |||||||||||
Director awards. Non-employee directors receive cash and annual grants of service-conditioned stock units under a program approved by the board of directors. Some units are settled in cash, and others are settled in shares, at vesting in the year following the year of grant. In 2013 and 2014 each director received $45,000 of stock units, representing a portion of their annual retainer, that were settled in shares. Starting with the annual meeting in second quarter 2013, directors also began receiving stock units settled in cash. Those cash-settled units were granted in lieu of cash meeting fees. The amount of such units each director receives varies with committee assignment. A supplemental annual award of cash-settled stock units also is granted to the lead director. Prior to 2007 the board granted 8,930 shares of restricted stock to each new non-employee director upon election to the board, with restrictions lapsing at a rate of ten percent per year. That program was discontinued in 2007, although a legacy award remains outstanding. | |||||||||||
The summary of restricted and performance stock and unit activity during the year ended December 31, 2014, is presented below: | |||||||||||
Shares/Units | Weighted average grant date fair value | ||||||||||
Nonvested on January 1, 2014 | 4,174,196 | $ | 10.51 | ||||||||
Shares/units granted | 874,242 | 11.62 | |||||||||
Shares/units vested | -1,402,901 | 11.02 | |||||||||
Shares/units cancelled | -290,392 | 11.35 | |||||||||
Nonvested on December 31, 2014 | 3,355,145 | $ | 10.51 | ||||||||
The weighted average grant date fair value for shares/units granted in 2013 and 2012 was $10.63 and $9.25, respectively. | |||||||||||
On December 31, 2014, there was $14.2 million of unrecognized compensation cost related to nonvested restricted stock awards. That cost is expected to be recognized over a weighted-average period of 2.4 years. The total grant date fair value of shares vested during 2014, 2013 and 2012, was $15.5 million, $13.8 million and $12.1 million, respectively. | |||||||||||
Stock option awards. Currently FHN operates only a single option program, calling for annual grants of service-vested options to executives. In the past, however, option programs varied widely in their uses and terms, and many old-program options, granted under the ECP or its predecessor plans, remain outstanding today. All options granted since 2005 provide for the issuance of FHN common stock at a price fixed at its fair market value on the grant date. All options granted since 2008 vest fully no later than the fourth anniversary of grant, and all such options expire seven years from the grant date. A deferral program, which was discontinued in 2005, allowed for foregone compensation plus the exercise price to equal the fair market value of the stock on the date of grant if the grantee agreed to receive the options in lieu of compensation. Deferral options granted prior to January 2, 2004, expire 20 years from the grant date, while those granted in the final year of that program have only ten-year terms. FHN granted no stock options in 2009 or 2010. | |||||||||||
The summary of stock option activity for the year ended December 31, 2014, is shown below: | |||||||||||
Options Outstanding | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (years) | Aggregate Intrinsic Value (thousands) | ||||||||
1-Jan-14 | 8,593,175 | $ | 19.29 | ||||||||
Options granted | 592,551 | 11.77 | |||||||||
Options exercised | -199,880 | 10.74 | |||||||||
Options expired/cancelled | -1,194,739 | 30.78 | |||||||||
31-Dec-14 | 7,791,107 | 17.18 | 3.89 | $ | 11,826 | ||||||
Options exercisable | 5,820,652 | 19.34 | 3.56 | 6,376 | |||||||
Options expected to vest | 1,970,455 | 10.81 | 4.88 | 5,449 | |||||||
The total intrinsic value of options exercised during 2014 was $.4 million. The total intrinsic value of options exercised during 2013 and 2012 was immaterial. On December 31, 2014, there was $1.8 million of unrecognized compensation cost related to nonvested stock options. That cost is expected to be recognized over a weighted-average period of 2.5 years. | |||||||||||
FHN granted 592,551, 866,742 and 1,248,685 stock options with a weighted average fair value of $3.50, $3.21 and $3.80 per option at grant date in 2014, 2013 and 2012, respectively. | |||||||||||
FHN used the Black-Scholes Option Pricing Model to estimate the fair value of stock options granted in 2014, 2013, and 2012 with the following assumptions: | |||||||||||
2014 | 2013 | 2012 | |||||||||
Expected dividend yield | 1.70% | 1.84% | 0.42% | ||||||||
Expected weighted-average lives of options granted | 6.15 years | 6.12 years | 6.11 years | ||||||||
Expected weighted-average volatility | 33.79% | 36.19% | 42.40% | ||||||||
Expected volatility range | 24.55-61.49% | 27.27 - 62.98% | 35.80 - 62.21% | ||||||||
Risk-free interest rate | 1.96% | 1.16% | 1.10% | ||||||||
Expected lives of options granted are determined based on the vesting period, historical exercise patterns and contractual term of the options. For options granted in 2014, 2013, and 2012, FHN used a blended volatility rate in order to more accurately reflect expected volatility. A portion of the weighted average volatility rate was derived by compiling daily closing stock prices over a historical period approximating the expected lives of the options. Additionally, because of market volatility experienced during this time period related to economic conditions and the impact on stock prices of financial institutions, FHN also incorporated a measure of implied volatility so as to incorporate more recent, normalized market conditions that are considered to better reflect future volatility. | |||||||||||
Compensation Cost. The compensation cost that has been included in income from continuing operations pertaining to stock-based awards was $11.4 million, $16.1 million, and $16.2 million for 2014, 2013, and 2012, respectively. The corresponding total income tax benefits recognized were $4.4 million in 2014 and $6.2 million for 2013 and 2012. | |||||||||||
Authorization. Consistent with Tennessee state law, only authorized, but unissued, stock may be utilized in connection with any issuance of FHN common stock which may be required as a result of stock based compensation awards. FHN generally obtains authorization from the Board of Directors to repurchase any stock that may be issued at the time a plan is approved or amended. These authorizations are automatically adjusted for stock splits and stock dividends. Repurchases are authorized to be made in the open market or through privately negotiated transactions and will be subject to market conditions, accumulation of excess equity, legal and regulatory restrictions, and prudent capital management. FHN does not currently expect to repurchase a material number of shares under the compensation plan-related repurchase program during the next annual period. | |||||||||||
Dividend reinvestment plan. The Dividend Reinvestment and Stock Purchase Plan authorizes the sale of FHN’s common stock from stock acquired on the open market to shareholders who choose to invest all or a portion of their cash dividends or make optional cash payments of $25 to $10,000 per quarter without paying commissions. The price of stock purchased on the open market is the average price paid. |
Business_Segment_Information
Business Segment Information | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Business Segment Information [Abstract] | |||||||||||
Business Segment Information | Note 21 – Business Segment Information | ||||||||||
FHN has four business segments: regional banking, capital markets, corporate, and non-strategic. The regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers largely in Tennessee and other selected markets. Regional banking provides investments, financial planning, trust services and asset management, credit card, and cash management. Additionally, the regional banking segment includes correspondent banking which provides credit, depository, and other banking related services to other financial institutions nationally. The capital markets segment consists of fixed income sales, trading, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory, and derivative sales. The corporate segment consists of gains/(losses) on the extinguishment of debt, unallocated corporate expenses, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, acquisition-related costs, and various charges related to restructuring, repositioning, and efficiency initiatives. The non-strategic segment consists of the wind-down national consumer lending activities, legacy mortgage banking elements including servicing fees (in periods subsequent to first quarter 2014 these amounts are significantly lower), and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses along with the associated restructuring, repositioning, and efficiency charges. | |||||||||||
Periodically, FHN adapts its segments to reflect managerial or strategic changes. FHN may also modify its methodology of allocating expenses and equity among segments which could change historical segment results. Total revenue, expense, and asset levels reflect those which are specifically identifiable or which are allocated based on an internal allocation method. Because the allocations are based on internally developed assignments and allocations, they are to an extent subjective. Generally, all assignments and allocations have been consistently applied for all periods presented. The following table reflects the amounts of consolidated revenue, expense, tax, and assets for each segment for the years ended December 31: | |||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Consolidated | Net interest income | $ | 627,718 | $ | 637,374 | $ | 688,667 | ||||
Provision for loan losses | 27,000 | 55,000 | 78,000 | ||||||||
Noninterest income | 550,044 | 584,577 | 671,329 | ||||||||
Noninterest expense | 841,211 | 1,158,601 | 1,383,701 | ||||||||
Income/(loss) before income taxes | 309,551 | 8,350 | -101,705 | ||||||||
Provision/(benefit) for income taxes | 78,501 | -32,169 | -85,262 | ||||||||
Income/(loss) from continuing operations | 231,050 | 40,519 | -16,443 | ||||||||
Income/(loss) from discontinued operations, net of tax | - | 548 | 148 | ||||||||
Net income/(loss) | $ | 231,050 | $ | 41,067 | $ | -16,295 | |||||
Average assets | $ | 23,998,985 | $ | 24,409,656 | $ | 25,053,304 | |||||
Depreciation and amortization | $ | 56,896 | $ | 71,616 | $ | 117,972 | |||||
Expenditures for long-lived assets | 38,880 | 41,463 | 21,862 | ||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Regional Banking | Net interest income | $ | 602,066 | $ | 591,308 | $ | 605,460 | ||||
Provision/(provision credit) for loan losses | 29,187 | 18,460 | -898 | ||||||||
Noninterest income | 254,697 | 247,718 | 253,422 | ||||||||
Noninterest expense | 540,846 | 531,808 | 572,905 | ||||||||
Income/(loss) before income taxes | 286,730 | 288,758 | 286,875 | ||||||||
Provision/(benefit) for income taxes | 102,027 | 103,970 | 104,171 | ||||||||
Net income/(loss) | $ | 184,703 | $ | 184,788 | $ | 182,704 | |||||
Average assets | $ | 13,275,428 | $ | 12,877,329 | $ | 12,658,617 | |||||
Depreciation and amortization | $ | 38,271 | $ | 46,864 | $ | 73,720 | |||||
Expenditures for long-lived assets | 30,833 | 34,764 | 17,617 | ||||||||
Capital Markets | Net interest income | $ | 12,697 | $ | 16,177 | $ | 20,746 | ||||
Noninterest income | 202,723 | 268,435 | 334,990 | ||||||||
Noninterest expense | 146,828 | 232,415 | 262,971 | ||||||||
Income/(loss) before income taxes | 68,592 | 52,197 | 92,765 | ||||||||
Provision/(benefit) for income taxes | 25,751 | 19,619 | 35,054 | ||||||||
Net income/(loss) | $ | 42,841 | $ | 32,578 | $ | 57,711 | |||||
Average assets | $ | 2,068,967 | $ | 2,255,281 | $ | 2,296,549 | |||||
Depreciation and amortization | $ | 6,133 | $ | 8,666 | $ | 20,904 | |||||
Expenditures for long-lived assets | 1,295 | 3,987 | 1,851 | ||||||||
Corporate | Net interest income/(expense) | $ | -54,126 | $ | -46,127 | $ | -35,908 | ||||
Noninterest income | 26,967 | 26,055 | 27,007 | ||||||||
Noninterest expense | 70,453 | 75,263 | 99,438 | ||||||||
Income/(loss) before income taxes | -97,612 | -95,335 | -108,339 | ||||||||
Provision/(benefit) for income taxes | -69,341 | -64,463 | -80,880 | ||||||||
Net income/(loss) | $ | -28,271 | $ | -30,872 | $ | -27,459 | |||||
Average assets | $ | 5,591,239 | $ | 5,192,411 | $ | 5,223,014 | |||||
Depreciation and amortization | $ | 10,796 | $ | 13,754 | $ | 19,072 | |||||
Expenditures for long-lived assets | 6,218 | 1,050 | 2,327 | ||||||||
Non-Strategic | Net interest income | $ | 67,081 | $ | 76,016 | $ | 98,369 | ||||
Provision for loan losses | -2,187 | 36,540 | 78,898 | ||||||||
Noninterest income | 65,657 | 42,369 | 55,910 | ||||||||
Noninterest expense | 83,084 | 319,115 | 448,387 | ||||||||
Income/(loss) before income taxes | 51,841 | -237,270 | -373,006 | ||||||||
Provision/(benefit) for income taxes | 20,064 | -91,295 | -143,607 | ||||||||
Income/(loss) from continuing operations | 31,777 | -145,975 | -229,399 | ||||||||
Income/(loss) from discontinued operations, net of tax | - | 548 | 148 | ||||||||
Net income/(loss) | $ | 31,777 | $ | -145,427 | $ | -229,251 | |||||
Average assets | $ | 3,063,351 | $ | 4,084,635 | $ | 4,875,124 | |||||
Depreciation and amortization | $ | 1,696 | $ | 2,332 | $ | 4,276 | |||||
Expenditures for long-lived assets | 534 | 1,662 | 67 | ||||||||
Certain previously reported amounts have been reclassified to agree with current presentation |
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||||
Variable Interest Entities | Note 22 – Variable Interest Entities | |||||||||||||||||||
ASC 810 defines a VIE as an entity where the equity investors, as a group, lack either (1) the power through voting rights, or similar rights, to direct the activities of an entity that most significantly impact the entity’s economic performance, (2) the obligation to absorb the expected losses of the entity, (3) the right to receive the expected residual returns of the entity, or (4) sufficient equity at risk for the entity to finance its activities by itself. A variable interest is a contractual ownership, or other interest, that fluctuates with changes in the fair value of the VIE’s net assets exclusive of variable interests. Under ASC 810, as amended, a primary beneficiary is required to consolidate a VIE when it has a variable interest in a VIE that provides it with a controlling financial interest. For such purposes, the determination of whether a controlling financial interest exists is based on whether a single party has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant. | ||||||||||||||||||||
Consolidated Variable Interest Entities | ||||||||||||||||||||
FHN holds variable interests in proprietary residential mortgage securitization trusts it established prior to 2008 as a source of liquidity for its mortgage banking and consumer lending operations. Based on their restrictive nature, the trusts are considered VIEs as the holders of equity at risk do not have the power through voting rights or similar rights to direct the activities that most significantly impact the trusts’ economic performance. In situations where the retention of MSR and other retained interests, including residual interests and subordinated bonds, results in FHN potentially absorbing losses or receiving benefits that are significant to the trusts, FHN is considered the primary beneficiary, as it is also assumed to have the power as servicer to most significantly impact the activities of such VIEs. Consolidation of the trusts results in the recognition of the trusts’ proceeds as restricted borrowings since the cash flows on the securitized loans can only be used to settle the obligations due to the holders of the trusts’ securities. In third quarter 2013, FHN agreed to sell the servicing related to one of these securitization trusts that was previously consolidated. Upon closing of this sale in January 2014, the securitization trust was de-consolidated and prospectively considered a non-consolidated VIE. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trusts, the creditors of the trusts hold no recourse to the assets of FHN. | ||||||||||||||||||||
The only trust included in the December 31, 2014 balance of consolidated proprietary residential mortgage securitizations is a HELOC securitization trust that has entered a rapid amortization period and for which FHN is obligated to provide subordinated funding. During this period, cash payments from borrowers are accumulated to repay outstanding debt securities while FHN continues to make advances to borrowers when they draw on their lines of credit. FHN then transfers the newly generated receivables into the securitization trust and is reimbursed only after other parties in the securitization have received all of the cash flows to which they are entitled. If loan losses requiring draws on the related monoline insurers’ policies, which protect bondholders in the securitization, exceed a certain level, FHN may not receive reimbursement for all of the funds advanced to borrowers, as the senior bondholders and the monoline insurers typically have priority for repayment. This securitization trust is currently consolidated by FHN due to FHN's status as the Master Servicer for the securitization and the retention of a significant residual interest. Because the trust is consolidated, amounts funded from monoline insurance policies are considered as additional restricted term borrowings in FHN’s Consolidated Statements of Condition. | ||||||||||||||||||||
FHN has established certain rabbi trusts related to deferred compensation plans offered to its employees. FHN contributes employee cash compensation deferrals to the trusts and directs the underlying investments made by the trusts. The assets of these trusts are available to FHN’s creditors only in the event that FHN becomes insolvent. These trusts are considered VIEs as there is no equity at risk in the trusts since FHN provided the equity interest to its employees in exchange for services rendered. FHN is considered the primary beneficiary of the rabbi trusts as it has the power to direct the activities that most significantly impact the economic performance of the rabbi trusts through its ability to direct the underlying investments made by the trusts. Additionally, FHN could potentially receive benefits or absorb losses that are significant to the trusts due to its right to receive any asset values in excess of liability payoffs and its obligation to fund any liabilities to employees that are in excess of a rabbi trust’s assets. | ||||||||||||||||||||
The following table summarizes VIEs consolidated by FHN as of December 31, 2014 and 2013: | ||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||
On-Balance Sheet Consumer Loan Securitizations | Rabbi Trusts Used for Deferred Compensation Plans | On-Balance Sheet Consumer Loan Securitizations | Rabbi Trusts Used for Deferred Compensation Plans | |||||||||||||||||
(Dollars in thousands) | Carrying Value | Carrying Value | Carrying Value | Carrying Value | ||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 182 | N/A | $ | 1,244 | N/A | ||||||||||||||
Loans, net of unearned income | 76,772 | N/A | 100,790 | N/A | ||||||||||||||||
Less: Allowance for loan losses | 827 | N/A | 4,439 | N/A | ||||||||||||||||
Total net loans | 75,945 | N/A | 96,351 | N/A | ||||||||||||||||
Other assets | 436 | $ | 67,117 | 1,892 | $ | 64,505 | ||||||||||||||
Total assets | $ | 76,563 | $ | 67,117 | $ | 99,487 | $ | 64,505 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Term borrowings | $ | 65,612 | N/A | $ | 89,640 | N/A | ||||||||||||||
Other liabilities | 4 | $ | 50,825 | 18 | $ | 49,519 | ||||||||||||||
Total liabilities | $ | 65,616 | $ | 50,825 | $ | 89,658 | $ | 49,519 | ||||||||||||
Nonconsolidated Variable Interest Entities | ||||||||||||||||||||
Low Income Housing Partnerships. First Tennessee Housing Corporation (“FTHC”), a wholly-owned subsidiary of FTBNA, makes equity investments as a limited partner in various partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital and to support FHN’s community reinvestment initiatives. The activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants generally within FHN’s primary geographic region. LIHTC partnerships are considered VIEs as FTHC, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. FTHC could absorb losses that are significant to the LIHTC partnerships as it has a risk of loss for its initial capital contributions and funding commitments to each partnership. The general partners are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the partnerships’ economic performance and the general partners are exposed to all losses beyond FTHC’s initial capital contributions and funding commitments. | ||||||||||||||||||||
New Market Tax Credit LLCs. First Tennessee New Markets Corporation (“FTNMC”), a wholly-owned subsidiary of FTBNA, makes equity investments through wholly-owned subsidiaries as a non-managing member in various limited liability companies (“LLCs”) that sponsor community development projects utilizing the New Market Tax Credit (“NMTC”) pursuant to Section 45 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital and to support FHN’s community reinvestment initiatives. The activities of the LLCs include providing investment capital for low-income communities within FHN’s primary geographic region. A portion of the funding of FTNMC’s investment in a NMTC LLC is obtained via a loan from an unrelated third-party that is typically a community development enterprise. The NMTC LLCs are considered VIEs as FTNMC, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. While FTNMC could absorb losses that are significant to the NMTC LLCs as it has a risk of loss for its initial capital contributions, the managing members are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the NMTC LLCs’ economic performance and the managing members are exposed to all losses beyond FTNMC’s initial capital contributions. | ||||||||||||||||||||
Small Issuer Trust Preferred Holdings. FTBNA holds variable interests in trusts which have issued mandatorily redeemable preferred capital securities (“trust preferreds”) for smaller banking and insurance enterprises. FTBNA has no voting rights for the trusts’ activities. The trusts’ only assets are junior subordinated debentures of the issuing enterprises. The creditors of the trusts hold no recourse to the assets of FTBNA. These trusts meet the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. Based on the nature of the trusts’ activities and the size of FTBNA’s holdings, FTBNA could potentially receive benefits or absorb losses that are significant to the trusts regardless of whether a majority of a trust’s securities are held by FTBNA. However, since FTBNA is solely a holder of the trusts’ securities, it has no rights which would give it the power to direct the activities that most significantly impact the trusts’ economic performance and thus it is not considered the primary beneficiary of the trusts. FTBNA has no contractual requirements to provide financial support to the trusts. | ||||||||||||||||||||
On-Balance Sheet Trust Preferred Securitization. In 2007, FTBNA executed a securitization of certain small issuer trust preferreds for which the underlying trust meets the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entity’s economic performance. FTBNA could potentially receive benefits or absorb losses that are significant to the trust based on the size and priority of the interests it retained in the securities issued by the trust. However, since FTBNA did not retain servicing or other decision making rights, FTBNA is not the primary beneficiary as it does not have the power to direct the activities that most significantly impact the trust’s economic performance. Accordingly, FTBNA has accounted for the funds received through the securitization as a term borrowing in its Consolidated Statements of Condition. FTBNA has no contractual requirements to provide financial support to the trust. | ||||||||||||||||||||
Proprietary Trust Preferred Issuances. FHN has previously issued junior subordinated debt to First Tennessee Capital II (“Capital II”). Capital II is considered a VIE as FHN’s capital contributions to this trust are not considered “at risk” in evaluating whether the holders of the equity investments at risk in the trust have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entity’s economic performance. FHN is not the trust’s primary beneficiary as FHN’s capital contributions to the trust are not considered variable interests as they are not “at risk”. Consequently, Capital II is not consolidated by FHN. | ||||||||||||||||||||
Proprietary Residential Mortgage Securitizations. FHN holds variable interests in proprietary residential mortgage securitization trusts it established prior to 2008 as a source of liquidity for its mortgage banking operations. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trusts, the creditors of the trusts hold no recourse to the assets of FHN. Additionally, FHN has no contractual requirements to provide financial support to the trusts. Based on their restrictive nature, the trusts are considered VIEs as the holders of equity at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. While FHN is assumed to have the power as servicer to most significantly impact the activities of such VIEs, in situations where FHN does not have the ability to participate in significant portions of a securitization trust’s cash flows FHN is not considered the primary beneficiary of the trust. Therefore, these trusts are not consolidated by FHN. Upon closing of the servicing sales in first quarter 2014, FHN's interests in these securitizations declined substantially. | ||||||||||||||||||||
Agency Residential Mortgage Securitizations. During fourth quarter 2013, FHN completed the sale of substantially all servicing for Agency securitizations resulting in the de-recognition of its interests in these trusts. | ||||||||||||||||||||
Prior to third quarter 2008, FHN transferred first lien mortgages that were included in Agency-sponsored securitizations and retained MSR and in certain situations various other interests. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trusts, the creditors of the trusts held no recourse to the assets of FHN. Additionally, FHN had no contractual requirements to provide financial support to the trusts. The Agencies' or designated third parties' status as Master Servicer and the rights they hold consistent with their guarantees on the securities issued provide them with the power to direct the activities that most significantly impact the trusts’ economic performance. Thus, such trusts were not consolidated by FHN as it was not considered the primary beneficiary even in situations where it could potentially receive benefits or absorb losses that were significant to the trusts. | ||||||||||||||||||||
In relation to certain Agency securitizations, FHN purchased the servicing rights on securitized loans from the loan originator and held other retained interests. Based on their restrictive nature, the trusts meet the definition of a VIE since the holders of the equity investments at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. As the Agencies serve as Master Servicer for the securitized loans and hold rights consistent with their guarantees on the securities issued, they have the power to direct the activities that most significantly impact the trusts’ economic performance. Thus, FHN was not considered the primary beneficiary even in situations where it could potentially receive benefits or absorb losses that were significant to the trusts. FHN had no contractual requirements to provide financial support to the trusts. | ||||||||||||||||||||
On-Balance Sheet Consumer Loan Securitizations. Prior to March 31, 2014 FHN held variable interests in proprietary residential mortgage securitization trusts it established prior to 2008 as a source of liquidity for its consumer lending operations. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trusts, the creditors of the trusts held no recourse to the assets of FHN. Based on their restrictive nature, the trusts were considered VIEs as the holders of equity at risk did not have the power through voting rights or similar rights to direct the activities that most significantly impact the trusts’ economic performance. The nonconsolidated proprietary residential mortgage securitizations as of December 31, 2013, consisted of two HELOC securitization trusts that had entered a rapid amortization period and for which FHN was obligated to provide subordinated funding. These securitization trusts were not consolidated by FHN as it was not the Master Servicer for the securitizations. FHN’s holding of a unilateral call right to reclaim specific assets in the trusts precluded sale accounting for the related securitization transactions. Thus, even though FHN was not the Master Servicer, the related transactions were accounted for as secured borrowings, with the associated loans and secured debt remaining within FHN’s Consolidated Financial Statements. These trusts were collapsed in first quarter 2014 as the collateral (loans) of the trust were repurchased and FHN eliminated the associated secured borrowing on the Consolidated Statements of Condition. | ||||||||||||||||||||
Holdings & Short Positions in Agency Mortgage-Backed Securities. FHN holds securities issued by various Agency securitization trusts. Based on their restrictive nature, the trusts meet the definition of a VIE since the holders of the equity investments at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entities’ economic performance. FHN could potentially receive benefits or absorb losses that are significant to the trusts based on the nature of the trusts’ activities and the size of FHN’s holdings. However, FHN is solely a holder of the trusts’ securities and does not have the power to direct the activities that most significantly impact the trusts’ economic performance, and is not considered the primary beneficiary of the trusts. FHN has no contractual requirements to provide financial support to the trusts. | ||||||||||||||||||||
Commercial Loan Troubled Debt Restructurings. For certain troubled commercial loans, FTBNA restructures the terms of the borrower’s debt in an effort to increase the probability of receipt of amounts contractually due. Following a troubled debt restructuring, the borrower entity typically meets the definition of a VIE as the initial determination of whether an entity is a VIE must be reconsidered as events have proven that the entity’s equity is not sufficient to permit it to finance its activities without additional subordinated financial support or a restructuring of the terms of its financing. As FTBNA does not have the power to direct the activities that most significantly impact such troubled commercial borrowers’ operations, it is not considered the primary beneficiary even in situations where, based on the size of the financing provided, FTBNA is exposed to potentially significant benefits and losses of the borrowing entity. FTBNA has no contractual requirements to provide financial support to the borrowing entities beyond certain funding commitments established upon restructuring of the terms of the debt that allows for preparation of the underlying collateral for sale. | ||||||||||||||||||||
Managed Discretionary Trusts. FHN serves as manager over certain discretionary trusts for which it makes investment decisions on behalf of the trusts’ beneficiaries in return for a reasonable management fee. The trusts meet the definition of a VIE since the holders of the equity investments at risk do not have the power, through voting rights or similar rights, to direct the activities that most significantly impact the entities’ economic performance. The management fees FHN receives are not considered variable interests in the trusts as all of the requirements related to permitted levels of decision maker fees are met. Therefore, the VIEs are not consolidated by FHN as it is not the trusts’ primary beneficiary. FHN has no contractual requirements to provide financial support to the trusts. | ||||||||||||||||||||
The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2014: | ||||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships (a) (b) | $ | 46,851 | $ | - | Other assets | |||||||||||||||
New market tax credit LLCs (b) (c) | 21,648 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 364,882 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 51,613 | 62,561 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 25,904 | - | (g) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 3,881,505 | - | (h) | |||||||||||||||||
Commercial loan troubled debt restructurings (i) (j) | 47,258 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Maximum loss exposure represents $42.2 million of current investments and $4.7 million of contractual funding commitments. Only the current investment amount is included in Other assets. | ||||||||||||||||||||
A liability is not recognized as investments are written down over the life of the related tax credit. | ||||||||||||||||||||
Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||||||||||||||||||
Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. | ||||||||||||||||||||
Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $62.6 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $.6 million and $.1 million classified as MSR related to proprietary and agency residential mortgage securitizations, respectively, and $5.6 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servicing advances of $19.6 million are classified as Other assets. | ||||||||||||||||||||
Includes $519.1 million classified as Trading securities and $3.4 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $44.0 million of current receivables and $3.2 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||||||||||||||||||
A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowers’ operations. | ||||||||||||||||||||
The following table summarizes FHN's nonconsolidated VIEs as of December 31, 2013: | ||||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships (a) (b) | $ | 50,253 | $ | - | Other assets | |||||||||||||||
New market tax credit LLCs (b) (c) | 22,773 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 402,307 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 53,951 | 60,222 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 339,493 | - | (g) | |||||||||||||||||
On-balance sheet consumer loan securitizations | 22,965 | 221,193 | (h) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 3,401,539 | - | (i) | |||||||||||||||||
Short positions in agency mortgage-backed securities (f) | N/A | 854 | Trading liabilities | |||||||||||||||||
Commercial loan troubled debt restructurings (j) (k) | 62,207 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Maximum loss exposure represents $43.4 million of current investments and $6.9 million of contractual funding commitments. Only the current investment amount is included in Other assets. | ||||||||||||||||||||
A liability is not recognized as investments are written down over the life of the related tax credit. | ||||||||||||||||||||
Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||||||||||||||||||
Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. | ||||||||||||||||||||
Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $60.2 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $70.1 million and $.4 million classified as MSR related to proprietary and agency residential mortgage securitizations, respectively, and $7.2 million classified as Trading securities related to proprietary and agency residential mortgage securitizations. Aggregate servicing advances of $261.8 million are classified as Other assets. | ||||||||||||||||||||
Includes $244.2 million classified as Loans, net of unearned income which are offset by $221.2 million classified as Term borrowings. | ||||||||||||||||||||
Includes $286.9 million classified as Trading securities and $3.1 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $59.9 million of current receivables and $2.3 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||||||||||||||||||
A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowers’ operations. | ||||||||||||||||||||
Prior to 2009, FHN utilized loan sales and securitizations as a significant source of liquidity for its mortgage banking operations. FHN no longer retains financial interests in loans it transfers to third parties. | ||||||||||||||||||||
Retained Interests | ||||||||||||||||||||
With the sales of substantially all servicing by the end of first quarter 2014, prior transfers of financial assets in which FHN has continuing involvement are no longer significant. See Note 18 – Contingencies and Other Disclosures for information regarding FHN’s repurchase exposure for claims that FHN breached its representations and warranties made in connection with the sale of loans to proprietary and agency residential mortgage securitization trusts. | ||||||||||||||||||||
For 2013, cash flows received and paid related to loan sales and securitizations where FHN had continuing involvement were as follows: | ||||||||||||||||||||
Year Ended | ||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | |||||||||||||||||||
Proceeds from initial sales | $ | 10,843 | ||||||||||||||||||
Servicing fees retained (a) | 43,563 | |||||||||||||||||||
Purchases of GNMA guaranteed mortgages | 97,684 | |||||||||||||||||||
Purchases of previously transferred financial assets (b) (c) | 287,576 | |||||||||||||||||||
Other cash flows received on retained interests | 5,482 | |||||||||||||||||||
Included servicing fees on MSR associated with loan sales and purchased MSR. | ||||||||||||||||||||
Included repurchases of delinquent and performing loans, foreclosed assets, and make-whole payments for economic losses incurred by purchaser. Also included buyouts from GSEs in order to facilitate foreclosures. | ||||||||||||||||||||
2013 includes $74.7 million of cash paid related to clean-up calls exercised by FHN. | ||||||||||||||||||||
The principal amount of loans transferred through loan sales and securitizations and other loans managed with them in which FHN had continuing involvement, the principal amount of delinquent loans, and the net credit losses during the December 31, 2013 are as follows: | ||||||||||||||||||||
Principal Amount of Residential Real Estate Loans (a) (b) (c) | Net Credit Loss | |||||||||||||||||||
Year Ended | ||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | 31-Dec-13 | ||||||||||||||||||
Total loans managed or transferred | $ | 8,386,789 | $ | 219,925 | ||||||||||||||||
Amounts represent real estate residential loans in FHN’s portfolio, held-for-sale, and loans that have been transferred in proprietary securitizations and whole loan sales in which FHN had a retained interest other than servicing rights. Also included $39.4 million of loans transferred to GSEs with any type of retained interest other than servicing rights in 2013. | ||||||||||||||||||||
Includes $.7 billion where the principal amount is 90 days or more past due or nonaccrual. Included in this amount was $39.8 million of GNMA guaranteed mortgages in 2013. | ||||||||||||||||||||
No delinquency or net credit loss data is provided for the loans transferred to FNMA or FHLMC because these agencies retain credit risk. See Note 18 - Contingencies and Other Disclosures for discussion related to repurchase obligations for loans transferred to GSEs or private investors. | ||||||||||||||||||||
Derivatives
Derivatives | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Derivatives [Abstract] | ||||||||||||||||||||
Derivatives | Note 23 – Derivatives | |||||||||||||||||||
In the normal course of business, FHN utilizes various financial instruments (including derivative contracts and credit-related agreements) through its capital markets and risk management operations, as part of its risk management strategy and as a means to meet customers’ needs. Additionally, FHN used derivatives to hedge MSR, but such hedges were terminated in third quarter 2013 when FHN entered into an agreement to sell substantially all MSR. Derivative instruments are subject to credit and market risks in excess of the amount recorded on the balance sheet as required by GAAP. The contractual or notional amounts of these financial instruments do not necessarily represent credit or market risk. However, they can be used to measure the extent of involvement in various types of financial instruments. Controls and monitoring procedures for these instruments have been established and are routinely reevaluated. The Asset/Liability Committee (“ALCO”) controls, coordinates, and monitors the usage and effectiveness of these financial instruments. | ||||||||||||||||||||
Credit risk represents the potential loss that may occur if a party to a transaction fails to perform according to the terms of the contract. The measure of credit exposure is the replacement cost of contracts with a positive fair value. FHN manages credit risk by entering into financial instrument transactions through national exchanges, primary dealers or approved counterparties, and by using mutual margining and master netting agreements whenever possible to limit potential exposure. FHN also maintains collateral posting requirements with certain counterparties to limit credit risk. On December 31, 2014 and 2013, respectively, FHN had $91.7 million and $115.2 million of cash receivables and $55.6 million and $80.6 million of cash payables related to collateral posting under master netting arrangements, inclusive of collateral posted related to contracts with adjustable collateral posting thresholds and over collateralized positions, with derivative counterparties. With exchange-traded contracts, the credit risk is limited to the clearinghouse used. For non-exchange traded instruments, credit risk may occur when there is a gain in the fair value of the financial instrument and the counterparty fails to perform according to the terms of the contract and/or when the collateral proves to be of insufficient value. See additional discussion regarding master netting agreements and collateral posting requirements later in this note under the heading “Master Netting and Similar Agreements.” Market risk represents the potential loss due to the decrease in the value of a financial instrument caused primarily by changes in interest rates or the prices of debt instruments. FHN manages market risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. FHN continually measures this risk through the use of models that measure value-at-risk and earnings-at-risk. | ||||||||||||||||||||
Derivative Instruments. FHN enters into various derivative contracts both in a dealer capacity, to facilitate customer transactions, and as a risk management tool. Where contracts have been created for customers, FHN enters into transactions with dealers to offset its risk exposure. Contracts with dealers that require central clearing are novated to a clearing agent who becomes FHN's counterparty. Derivatives are also used as a risk management tool to hedge FHN’s exposure to changes in interest rates or other defined market risks. | ||||||||||||||||||||
Forward contracts are over-the-counter contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Futures contracts are exchange-traded contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Interest rate option contracts give the purchaser the right, but not the obligation, to buy or sell a specified quantity of a financial instrument, at a specified price, during a specified period of time. Caps and floors are options that are linked to a notional principal amount and an underlying indexed interest rate. Interest rate swaps involve the exchange of interest payments at specified intervals between two parties without the exchange of any underlying principal. Swaptions are options on interest rate swaps that give the purchaser the right, but not the obligation, to enter into an interest rate swap agreement during a specified period of time. | ||||||||||||||||||||
Capital Markets | ||||||||||||||||||||
Capital markets trades U.S. Treasury, U.S. Agency, mortgage-backed, corporate and municipal fixed income securities, and other securities for distribution to customers. When these securities settle on a delayed basis, they are considered forward contracts. Capital markets also enters into interest rate contracts, including caps, swaps, and floors, for its customers. In addition, capital markets enters into futures and option contracts to economically hedge interest rate risk associated with a portion of its securities inventory. These transactions are measured at fair value, with changes in fair value recognized currently in Capital markets noninterest income. Related assets and liabilities are recorded on the Consolidated Statements of Condition as Derivative assets and Derivative liabilities. The FTN Financial Risk Committee and the Credit Risk Management Committee collaborate to mitigate credit risk related to these transactions. Credit risk is controlled through credit approvals, risk control limits, and ongoing monitoring procedures. Total trading revenues were $170.3 million and $231.9 million for the years ended December 31, 2014 and 2013, respectively. Total revenues are inclusive of both derivative and non-derivative financial instruments, and are included in Capital markets noninterest income. | ||||||||||||||||||||
The following tables summarize FHN’s derivatives associated with capital markets trading activities as of December 31, 2014 and 2013: | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,754,939 | $ | 76,614 | $ | 3,681 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,754,939 | 3,681 | 76,614 | |||||||||||||||||
Option Contracts Purchased | 15,000 | 12 | - | |||||||||||||||||
Forwards and Futures Purchased | 884,439 | 1,383 | 459 | |||||||||||||||||
Forwards and Futures Sold | 1,175,667 | 962 | 1,576 | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,786,532 | $ | 76,980 | $ | 11,214 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,786,532 | 11,214 | 76,980 | |||||||||||||||||
Option Contracts Purchased | 5,000 | 9 | - | |||||||||||||||||
Forwards and Futures Purchased | 1,278,331 | 2,489 | 824 | |||||||||||||||||
Forwards and Futures Sold | 1,445,656 | 531 | 3,519 | |||||||||||||||||
Interest Rate Risk Management | ||||||||||||||||||||
FHN’s ALCO focuses on managing market risk by controlling and limiting earnings volatility attributable to changes in interest rates. Interest rate risk exists to the extent that interest-earning assets and interest-bearing liabilities have different maturity or repricing characteristics. FHN uses derivatives, including swaps, caps, options, and collars, that are designed to moderate the impact on earnings as interest rates change. Interest paid or received for swaps utilized by FHN to hedge the fair value of long term debt is recognized as an adjustment of the interest expense of the liabilities whose risk is being managed. FHN’s interest rate risk management policy is to use derivatives to hedge interest rate risk or market value of assets or liabilities, not to speculate. In addition, FHN has entered into certain interest rate swaps and caps as a part of a product offering to commercial customers that includes customer derivatives paired with upstream offsetting market instruments that, when completed, are designed to mitigate interest rate risk. These contracts do not qualify for hedge accounting and are measured at fair value with gains or losses included in current earnings in Noninterest expense on the Consolidated Statements of Income. | ||||||||||||||||||||
FHN has entered into pay floating, receive fixed interest rate swaps to hedge the interest rate risk of certain term borrowings totaling $554.0 million on December 31, 2014 and 2013, respectively. These swaps have been accounted for as fair value hedges under the shortcut method. The balance sheet amount of these swaps was $15.3 million and $40.2 million in Derivative assets on December 31, 2014 and 2013, respectively. $304.0 million of these borrowings matured January 2015. | ||||||||||||||||||||
FHN has designated a derivative transaction in a hedging strategy to manage interest rate risk on its $500 million noncallable senior debt maturing in December 2015. This derivative qualifies for hedge accounting under ASC 815-20 using the long-haul method. FHN entered into a pay floating, receive fixed interest rate swap to hedge the interest rate risk on this debt. The balance sheet amount of this swap was $9.1 million and $18.0 million in Derivative assets as of December 31, 2014 and 2013, respectively. There was no ineffectiveness related to this hedge. | ||||||||||||||||||||
FHN designates derivative transactions in hedging strategies to manage interest rate risk on subordinated debt related to its trust preferred securities. These qualify for hedge accounting under ASC 815-20 using the long-haul method. FHN hedges the interest rate risk of the subordinated debt totaling $200 million using a pay floating, receive fixed interest rate swap. The balance sheet amount of this swap was $3.9 million and $24.9 million in Derivative liabilities as of December 31, 2014 and 2013, respectively. There was no ineffectiveness related to this hedge. | ||||||||||||||||||||
FHN has designated a derivative transaction in a hedging strategy to manage interest rate risk on $400.0 million of senior debt issued by FTBNA which matures in December 2019. This qualifies for hedge accounting under ASC 815-20 using the long-haul method. FHN entered into a pay floating, receive fixed interest rate swap to hedge the interest rate risk of the senior debt in November 2014. The balance sheet impact of this swap was $.4 million in Derivative assets on December 31, 2014. There was an insignificant level of ineffectiveness related to this hedge. | ||||||||||||||||||||
The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of and for the years ended December 31, 2014 and 2013: | ||||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-14 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 664,345 | $ | 26,084 | $ | 430 | $ | 577 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 664,345 | 430 | 26,584 | -577 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,654,000 | $ | 24,811 | $ | 3,910 | $ | -12,126 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,654,000 | (c) | $ | 12,272 | (d) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-13 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 759,830 | $ | 28,747 | $ | 3,670 | $ | -30,057 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 776,236 | 3,670 | 29,247 | 30,547 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,254,000 | $ | 58,226 | $ | 24,904 | $ | -61,853 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,254,000 | (c) | $ | 61,853 | (d) | ||||||||||||
Gains/losses included in the Other expense section of the Consolidated Statements of Income. | ||||||||||||||||||||
Gains/losses included in the All other income and commissions section of the Consolidated Statements of Income. | ||||||||||||||||||||
Represents par value of term borrowings being hedged. | ||||||||||||||||||||
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. | ||||||||||||||||||||
FHN hedges held-to-maturity trust preferred loans with a principal balance of $6.5 million as of December 31, 2014 and 2013, which have an initial fixed rate term before conversion to a floating rate. FHN has entered into pay fixed, receive floating interest rate swaps to hedge the interest rate risk associated with this initial term. These hedge relationships qualify as fair value hedges under ASC 815-20. The impact of these swaps was $.7 million and $1.1 million in Derivative liabilities on the Consolidated Statements of Condition as of December 31, 2014 and 2013, respectively. Interest paid or received for these swaps is recognized as an adjustment of the interest income of the assets whose risk is being hedged. Basis adjustments remaining at the end of the hedge term are being amortized as an adjustment to interest income over the remaining life of the loans. Gains or losses are included in Other income and commissions on the Consolidated Statements of Income. | ||||||||||||||||||||
The following tables summarize FHN’s derivative activities associated with held-to-maturity trust preferred loans as of and for the years ended December 31, 2014 and 2013: | ||||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-14 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 744 | $ | 262 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -259 | (c) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-13 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 1,006 | $ | 1,037 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -1,032 | (c) | ||||||||||||
Assets included in the Loans, net of unearned income section of the Consolidated Statements of Condition. | ||||||||||||||||||||
Represents principal balance being hedged. | ||||||||||||||||||||
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. | ||||||||||||||||||||
Other Derivatives | ||||||||||||||||||||
In conjunction with the sales of a portion of its Visa Class B shares, FHN and the purchaser entered into derivative transactions whereby FHN will make or receive cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. As of December 31, 2014, the derivative liabilities associated with the sales of Visa Class B shares were $5.2 million compared to $2.9 million as of December 31, 2013. See the Visa Matters section of Note 18 – Contingencies and Other Disclosures for more information regarding FHN’s Visa shares. | ||||||||||||||||||||
FHN utilizes cross currency swaps and cross currency interest rate swaps to economically hedge its exposure to foreign currency risk and interest rate risk associated with non-U.S. dollar denominated loans. As of December 31, 2014, these loans were valued at $4.9 million. As of December 31, 2013, these loans were valued at $.6 million, the balance sheet amount and the gains/losses associated with these derivatives were not material. | ||||||||||||||||||||
Legacy Mortgage Servicing Operations | ||||||||||||||||||||
Retained Interests | ||||||||||||||||||||
Prior to first quarter 2014, FHN had significantly larger amounts of retained mortgage servicing rights. FHN revalued MSR to current fair value each month with changes in fair value included in servicing income in Mortgage banking noninterest income on the Consolidated Statements of Income. FHN entered into interest rate contracts (potentially including swaps, swaptions, and mortgage forward purchase contracts) to hedge against the effects of changes in fair value of its MSR associated with increased prepayment activity that generally results from declining interest rates. Substantially all capitalized MSR were hedged for economic purposes. In third quarter 2013, in conjunction with the agreement to sell legacy mortgage servicing, FHN terminated all hedges associated with MSR and interest-only securities. | ||||||||||||||||||||
FHN utilized derivatives as an economic hedge (potentially including swaps, swaptions, and mortgage forward purchase contracts) to protect the value of its interest-only securities that change in value inversely to the movement of interest rates. Interest-only securities are included in Trading securities on the Consolidated Statements of Condition. Changes in the fair value of these derivatives and the hedged interest-only securities are recognized currently in earnings in Mortgage banking noninterest income as a component of servicing income on the Consolidated Statements of Income. | ||||||||||||||||||||
The following table summarizes FHN’s derivatives associated with legacy mortgage servicing activities as of and for the year ended December 31, 2013: | ||||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-13 | ||||||||||||||||
Retained Interests Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Forwards and Futures | $ | - | $ | - | $ | - | $ | -3,047 | ||||||||||||
Interest Rate Swaps and Swaptions | - | - | - | -4,275 | ||||||||||||||||
Hedged Items: | ||||||||||||||||||||
Mortgage Servicing Rights | N/A | $ | 70,492 | N/A | $ | 21,591 | ||||||||||||||
Other Retained Interests | N/A | 7,195 | N/A | 3,813 | ||||||||||||||||
Master Netting and Similar Agreements | ||||||||||||||||||||
As previously discussed, FHN uses master netting agreements, mutual margining agreements and collateral posting requirements to minimize credit risk on derivative contracts. Master netting and similar agreements are used when counterparties have multiple derivatives contracts that allow for a “right of setoff,” meaning that a counterparty may net offsetting positions and collateral with the same counterparty under the contract to determine a net receivable or payable. The following discussion provides an overview of these arrangements which may vary due to the derivative type and market in which a derivative transaction is executed. | ||||||||||||||||||||
Interest rate derivatives are subject to agreements consistent with standard agreement forms of the International Swap and Derivatives Association (“ISDA”). Currently, all interest rate derivative contracts are entered into as over-the-counter transactions and collateral posting requirements are based on the net asset or liability position with each respective counterparty. For contracts that require central clearing, novation to a central counterparty clearinghouse occurs and collateral is posted. Cash collateral received (posted) for interest rate derivatives is recognized as a liability (asset) on FHN’s balance sheet. | ||||||||||||||||||||
Interest rate derivatives with customers that are smaller financial institutions typically require posting of collateral by the counterparty to FHN. This collateral is subject to a threshold with daily adjustments based upon changes in the level or fair value of the derivative position. Positions and related collateral can be netted in the event of default. Collateral pledged by a counterparty is typically cash or securities. The securities pledged as collateral are not recognized within FHN's Consolidated Statements of Condition. Interest rate derivatives associated with lending arrangements share the collateral with the related loan(s). The derivative and loan positions may be netted in the event of default. For disclosure purposes, the entire collateral amount is allocated to the loan. | ||||||||||||||||||||
Interest rate derivatives with larger financial institutions entered into prior to required central clearing typically contain provisions whereby the collateral posting thresholds under the agreements adjust based on the credit ratings of both counterparties. If the credit rating of FHN and/or FTBNA is lowered, FHN could be required to post additional collateral with the counterparties. Conversely, if the credit rating of FHN and/or FTBNA is increased, FHN could have collateral released and be required to post less collateral in the future. Also, if a counterparty's credit ratings were to decrease, FHN and/or FTBNA could request the posting of additional collateral; whereas if a counterparty's credit ratings were to increase, the counterparty could request the release of excess collateral. Collateral for these arrangements is adjusted daily based on changes in the net fair value position with each counterparty. | ||||||||||||||||||||
The net fair value, determined by individual counterparty, of all derivative instruments with adjustable collateral posting thresholds was $100.5 million of assets and $80.5 million of liabilities on December 31, 2014, and $119.0 million of assets and $100.3 million of liabilities on December 31, 2013. As of December 31, 2014 and 2013, FHN had received collateral of $172.1 million and $196.4 million and posted collateral of $83.0 million and $105.9 million, respectively, in the normal course of business related to these agreements. | ||||||||||||||||||||
Certain agreements entered into prior to required central clearing also contain accelerated termination provisions, inclusive of the right of offset, if a counterparty’s credit rating falls below a specified level. If a counterparty's debt rating (including FHN's and FTBNA’s) were to fall below these minimums, these provisions would be triggered, and the counterparties could terminate the agreements and request immediate settlement of all derivative contracts under the agreements. The net fair value, determined by individual counterparty, of all derivative instruments with credit-risk-related contingent accelerated termination provisions was $100.5 million of assets and $19.7 million of liabilities on December 31, 2014, and $119.0 million of assets and $30.1 million of liabilities on December 31, 2013. As of December 31, 2014 and 2013, FHN had received collateral of $172.1 million and $196.4 million and posted collateral of $26.6 million and $39.4 million, respectively, in the normal course of business related to these contracts. | ||||||||||||||||||||
Capital Markets buys and sells various types of securities for its customers. When these securities settle on a delayed basis, they are considered forward contracts, and are generally not subject to master netting agreements. Forwards purchased and sold through legacy mortgage banking activities typically consisted of mortgage to be announced ("TBA") trades for which FHN utilized a clearinghouse for settlement. In the event of default, all open positions can be offset. For futures and options, FHN transacts through a third party, and the transactions are subject to margin and collateral maintenance requirements. In the event of default, open positions can be offset along with the associated collateral. | ||||||||||||||||||||
For this disclosure, FHN considers the impact of master netting and other similar agreements which allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net derivative asset or liability position with the related securities and cash collateral. The application of the collateral cannot reduce the net derivative asset or liability position below zero, and therefore any excess collateral is not reflected in the tables below. | ||||||||||||||||||||
The following table provides a detail of derivative assets and collateral received as presented on the Consolidated Statements of Condition as of December 31: | ||||||||||||||||||||
Gross amounts not offset in the | ||||||||||||||||||||
Statement of Condition | ||||||||||||||||||||
Gross amounts | Net amounts of | Derivative | ||||||||||||||||||
Gross amounts | offset in the | assets presented | liabilities | |||||||||||||||||
of recognized | Statement of | in the Statement | available for | Collateral | ||||||||||||||||
(Dollars in thousands) | assets | Condition | of Condition (a) | offset | Received | Net amount | ||||||||||||||
Derivative assets: | ||||||||||||||||||||
2014 (b) | $ | 131,731 | $ | - | $ | 131,731 | $ | -15,768 | $ | -114,230 | $ | 1,733 | ||||||||
2013 (b) | 178,837 | - | 178,837 | -68,216 | -110,621 | - | ||||||||||||||
Included in Derivative Assets on the Consolidated Statements of Condition. As of December 31, 2014 and 2013, $2.4 million and $3.0 million, respectively, of derivative assets (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. | ||||||||||||||||||||
2014 and 2013 are comprised entirely of interest rate derivative contracts. | ||||||||||||||||||||
The following table provides a detail of derivative liabilities and collateral pledged as presented on the Consolidated Statements of Condition as of December 31: | ||||||||||||||||||||
Gross amounts not offset in the | ||||||||||||||||||||
Statement of Condition | ||||||||||||||||||||
Gross amounts | Net amounts of | |||||||||||||||||||
Gross amounts | offset in the | liabilities presented | Derivative | |||||||||||||||||
of recognized | Statement of | in the Statement | assets available | Collateral | ||||||||||||||||
(Dollars in thousands) | liabilities | Condition | of Condition (a) | for offset | pledged | Net amount | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||
2014 (b) | $ | 111,963 | $ | - | $ | 111,963 | $ | -15,768 | $ | -78,390 | $ | 17,805 | ||||||||
2013 (b) | 147,021 | - | 147,021 | -68,216 | -59,999 | 18,806 | ||||||||||||||
Included in Derivative Liabilities on the Consolidated Statements of Condition. As of December 31, 2014 and 2013, $7.3 million of derivative liabilities (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. | ||||||||||||||||||||
2014 and 2013 are comprised entirely of interest rate derivative contracts. | ||||||||||||||||||||
Master_Netting_And_Similar_Agr
Master Netting And Similar Agreements | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Master Netting Agreements And Similar Arrangements [Abstract] | |||||||||||||||||||
Master Netting Agreements And Similar Arrangements | Note 24 –Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing and Lending Transactions | ||||||||||||||||||
For repurchase, reverse repurchase and securities borrowing and lending transactions, FHN and each counterparty have the ability to offset all open positions and related collateral in the event of default. Due to the nature of these transactions, the value of the collateral for each transaction approximates the value of the corresponding receivable or payable. For repurchase agreements within FHN’s capital markets’ business, transactions are collateralized by securities which are delivered on the settlement date and are maintained throughout the term of the transaction. For FHN’s repurchase agreements through banking activities, securities are typically pledged at the time of the transaction and not released until settlement. For asset positions, the collateral is not included on FHN’s Consolidated Statements of Condition. For liability positions, securities collateral pledged by FHN is generally represented within FHN’s trading or available-for-sale securities portfolios. | |||||||||||||||||||
For this disclosure, FHN considers the impact of master netting and other similar agreements that allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net asset or liability position with the related securities collateral. The application of the collateral cannot reduce the net asset or liability position below zero, and therefore any excess collateral is not reflected in the tables below. | |||||||||||||||||||
The following table provides a detail of Securities purchased under agreements to resell as presented on the Consolidated Statements of Condition and collateral pledged by counterparties as of December 31: | |||||||||||||||||||
Gross amounts not offset in the | |||||||||||||||||||
Statement of Condition | |||||||||||||||||||
Gross amounts | Net amounts of | Offsetting | Securities collateral | ||||||||||||||||
Gross amounts | offset in the | assets presented | securities sold | (not recognized on | |||||||||||||||
of recognized | Statement of | in the Statement | under agreements | FHN's Statement | |||||||||||||||
(Dollars in thousands) | assets | Condition | of Condition | to repurchase | of Condition) | Net amount | |||||||||||||
Securities purchased under agreements to resell: | |||||||||||||||||||
2014 | $ | 659,154 | $ | - | $ | 659,154 | $ | -48,655 | $ | -602,403 | $ | 8,096 | |||||||
2013 | 412,614 | - | 412,614 | -8,672 | -396,855 | 7,087 | |||||||||||||
The following table provides a detail of Securities sold under agreements to repurchase as presented on the Consolidated Statements of Condition and collateral pledged by FHN as of December 31: | |||||||||||||||||||
Gross amounts not offset in the | |||||||||||||||||||
Statement of Condition | |||||||||||||||||||
Gross amounts | Net amounts of | Offsetting | |||||||||||||||||
Gross amounts | offset in the | liabilities presented | securities | ||||||||||||||||
of recognized | Statement of | in the Statement | purchased under | Securities | |||||||||||||||
(Dollars in thousands) | liabilities | Condition | of Condition | agreements to resell | Collateral | Net amount | |||||||||||||
Securities sold under agreements to repurchase: | |||||||||||||||||||
2014 | $ | 562,214 | $ | - | $ | 562,214 | $ | -48,655 | $ | -513,463 | $ | 96 | |||||||
2013 | 442,789 | - | 442,789 | -8,672 | -434,008 | 109 |
Fair_Value_Of_Assets_And_Liabi
Fair Value Of Assets And Liabilities | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||
Fair Value Of Assets And Liabilities | Note 25 – Fair Value of Assets & Liabilities | ||||||||||||||||||||||||||||||
FHN groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. This hierarchy requires FHN to maximize the use of observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Each fair value measurement is placed into the proper level based on the lowest level of significant input. These levels are: | |||||||||||||||||||||||||||||||
Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. | |||||||||||||||||||||||||||||||
Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. | |||||||||||||||||||||||||||||||
Level 3 - Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models, and similar techniques. | |||||||||||||||||||||||||||||||
Transfers between fair value levels are recognized at the end of the fiscal quarter in which the associated change in inputs occurs. | |||||||||||||||||||||||||||||||
Recurring Fair Value Measurements | |||||||||||||||||||||||||||||||
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2014: | |||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 115,908 | $ | - | $ | 115,908 | |||||||||||||||||||||||
Government agency issued MBS | - | 330,443 | - | 330,443 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 188,632 | - | 188,632 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | 127,263 | - | 127,263 | |||||||||||||||||||||||||||
States and municipalities | - | 54,647 | - | 54,647 | |||||||||||||||||||||||||||
Trading Loans | - | 15,088 | - | 15,088 | |||||||||||||||||||||||||||
Corporate and other debt | - | 354,178 | 5 | 354,183 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | - | 2,590 | - | 2,590 | |||||||||||||||||||||||||||
Total trading securities - capital markets | - | 1,188,749 | 5 | 1,188,754 | |||||||||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||||||||
Principal only | - | - | 4,137 | 4,137 | |||||||||||||||||||||||||||
Interest only | - | - | 167 | 167 | |||||||||||||||||||||||||||
Subordinated bonds | - | - | 1,333 | 1,333 | |||||||||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 5,637 | 5,637 | |||||||||||||||||||||||||||
Loans held-for-sale | - | - | 27,910 | 27,910 | |||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||
U.S. treasuries | - | 100 | - | 100 | |||||||||||||||||||||||||||
Government agency issued MBS | - | 751,165 | - | 751,165 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 2,611,266 | - | 2,611,266 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | - | 1,807 | 1,807 | |||||||||||||||||||||||||||
States and municipalities | - | 8,705 | 1,500 | 10,205 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | 26,264 | - | - | 26,264 | |||||||||||||||||||||||||||
Total securities available-for-sale | 26,264 | 3,371,236 | 3,307 | 3,400,807 | |||||||||||||||||||||||||||
Mortgage servicing rights | - | - | 2,517 | 2,517 | |||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||
Deferred compensation assets | 25,665 | - | - | 25,665 | |||||||||||||||||||||||||||
Derivatives, forwards and futures | 2,345 | - | - | 2,345 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 131,631 | - | 131,631 | |||||||||||||||||||||||||||
Derivatives, other | - | 112 | - | 112 | |||||||||||||||||||||||||||
Total other assets | 28,010 | 131,743 | - | 159,753 | |||||||||||||||||||||||||||
Total assets | $ | 54,274 | $ | 4,691,728 | $ | 39,376 | $ | 4,785,378 | |||||||||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 286,016 | $ | - | $ | 286,016 | |||||||||||||||||||||||
Other U.S. government agencies | - | 1,958 | - | 1,958 | |||||||||||||||||||||||||||
Corporate and other debt | - | 306,341 | - | 306,341 | |||||||||||||||||||||||||||
Total trading liabilities - capital markets | - | 594,315 | - | 594,315 | |||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||
Derivatives, forwards and futures | 2,035 | - | - | 2,035 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 111,964 | - | 111,964 | |||||||||||||||||||||||||||
Derivatives, other | - | - | 5,240 | 5,240 | |||||||||||||||||||||||||||
Total other liabilities | 2,035 | 111,964 | 5,240 | 119,239 | |||||||||||||||||||||||||||
Total liabilities | $ | 2,035 | $ | 706,279 | $ | 5,240 | $ | 713,554 | |||||||||||||||||||||||
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2013: | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 70,472 | $ | - | $ | 70,472 | |||||||||||||||||||||||
Government agency issued MBS | - | 231,398 | - | 231,398 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 55,515 | - | 55,515 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | 108,265 | - | 108,265 | |||||||||||||||||||||||||||
States and municipalities | - | 30,814 | - | 30,814 | |||||||||||||||||||||||||||
Corporate and other debt | - | 297,440 | 5 | 297,445 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | - | 614 | - | 614 | |||||||||||||||||||||||||||
Total trading securities - capital markets | - | 794,518 | 5 | 794,523 | |||||||||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||||||||
Principal only | - | - | 5,110 | 5,110 | |||||||||||||||||||||||||||
Interest only | - | - | 2,085 | 2,085 | |||||||||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 7,195 | 7,195 | |||||||||||||||||||||||||||
Loans held-for-sale | - | - | 230,456 | 230,456 | |||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||
U.S. treasuries | - | 39,996 | - | 39,996 | |||||||||||||||||||||||||||
Government agency issued MBS | - | 823,689 | - | 823,689 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 2,290,937 | - | 2,290,937 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | - | 2,326 | 2,326 | |||||||||||||||||||||||||||
States and municipalities | - | 13,655 | 1,500 | 15,155 | |||||||||||||||||||||||||||
Venture capital | - | - | 4,300 | 4,300 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | 23,259 | - | - | 23,259 | |||||||||||||||||||||||||||
Total securities available-for-sale | 23,259 | 3,168,277 | 8,126 | 3,199,662 | |||||||||||||||||||||||||||
Mortgage servicing rights | - | - | 72,793 | 72,793 | |||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||
Deferred compensation assets | 23,880 | - | - | 23,880 | |||||||||||||||||||||||||||
Derivatives, forwards and futures | 3,020 | - | - | 3,020 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 178,846 | - | 178,846 | |||||||||||||||||||||||||||
Total other assets | 26,900 | 178,846 | - | 205,746 | |||||||||||||||||||||||||||
Total assets | $ | 50,159 | $ | 4,141,641 | $ | 318,575 | $ | 4,510,375 | |||||||||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 210,096 | $ | - | $ | 210,096 | |||||||||||||||||||||||
Government agency issued MBS | - | 854 | - | 854 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | 3,900 | - | 3,900 | |||||||||||||||||||||||||||
Corporate and other debt | - | 153,498 | - | 153,498 | |||||||||||||||||||||||||||
Total trading liabilities - capital markets | - | 368,348 | - | 368,348 | |||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||
Derivatives, forwards and futures | 4,343 | - | - | 4,343 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 147,021 | - | 147,021 | |||||||||||||||||||||||||||
Derivatives, other | - | 1 | 2,915 | 2,916 | |||||||||||||||||||||||||||
Total other liabilities | 4,343 | 147,022 | 2,915 | 154,280 | |||||||||||||||||||||||||||
Total liabilities | $ | 4,343 | $ | 515,370 | $ | 2,915 | $ | 522,628 | |||||||||||||||||||||||
Changes in Recurring Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at fair value for the twelve months ended December 31, 2014, 2013, and 2012, on a recurring basis are summarized as follows: | |||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2014 | |||||||||||||||||||||||||||||||
Securities available-for-sale | Mortgage | ||||||||||||||||||||||||||||||
Trading | Loans held- | Investment | Venture | servicing | Net derivative | ||||||||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | portfolio | Capital | rights, net | liabilities | |||||||||||||||||||||||||
Balance on January 1, 2014 | $ | 7,200 | $ | 230,456 | $ | 3,826 | $ | 4,300 | $ | 72,793 | $ | -2,915 | |||||||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||||||||
Net income | 149 | 52,494 | - | -2,995 | 1,248 | -5,981 | |||||||||||||||||||||||||
Other comprehensive income / (loss) | - | - | -64 | - | - | - | |||||||||||||||||||||||||
Purchases | 1,559 | 5,654 | - | - | - | - | |||||||||||||||||||||||||
Issuances | - | - | - | - | - | - | |||||||||||||||||||||||||
Sales | -1,715 | -236,975 | - | -5 | -70,204 | - | |||||||||||||||||||||||||
Settlements | -1,550 | -19,806 | -455 | -1,300 | -1,320 | 3,656 | |||||||||||||||||||||||||
Net transfers into/(out of) Level 3 | - | -3,913 | (b) | - | - | - | - | ||||||||||||||||||||||||
Balance on December 31, 2014 | $ | 5,643 | $ | 27,910 | $ | 3,307 | $ | - | $ | 2,517 | $ | -5,240 | |||||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 225 | (a) | $ | 1,991 | (a) | $ | - | $ | - | $ | 43 | (a) | $ | -5,981 | (c) | |||||||||||||||
Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||||||
Securities available-for-sale | Mortgage | Other | |||||||||||||||||||||||||||||
Trading | Loans held- | Investment | Venture | servicing | Net derivative | short-term | |||||||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | portfolio | Capital | rights, net | liabilities | borrowings | ||||||||||||||||||||||||
Balance on January 1, 2013 | $ | 17,992 | $ | 221,094 | $ | 5,253 | $ | 4,300 | $ | 114,311 | $ | -2,175 | $ | -11,156 | |||||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||||||||
Net income | 5,028 | -4,387 | - | - | 20,182 | -2,013 | -3 | ||||||||||||||||||||||||
Other comprehensive income /(loss) | - | - | -114 | - | - | - | - | ||||||||||||||||||||||||
Purchases | - | 69,929 | - | - | - | - | - | ||||||||||||||||||||||||
Issuances | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Sales | -7,784 | - | - | - | -39,633 | - | 11,159 | ||||||||||||||||||||||||
Settlements | -8,036 | -40,369 | -1,313 | - | -22,067 | 1,273 | - | ||||||||||||||||||||||||
Net transfers into/(out of) Level 3 | - | -15,811 | (b) | - | - | - | - | - | |||||||||||||||||||||||
Balance on December 31, 2013 | $ | 7,200 | $ | 230,456 | $ | 3,826 | $ | 4,300 | $ | 72,793 | $ | -2,915 | $ | - | |||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 1,237 | (a) | $ | -4,387 | (a) | $ | - | $ | - | $ | 17,394 | (a) | $ | 2,013 | (c) | $ | - | (a) | ||||||||||||
Twelve Months Ended December 31, 2012 | |||||||||||||||||||||||||||||||
Securities available-for-sale | Mortgage | Other | |||||||||||||||||||||||||||||
Trading | Loans held- | Investment | Venture | servicing | Net derivative | short-term | |||||||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | portfolio | capital | rights | liabilities | borrowings | ||||||||||||||||||||||||
Balance on January 1, 2012 | $ | 18,059 | $ | 210,487 | $ | 7,262 | $ | 12,179 | $ | 144,069 | $ | -11,820 | $ | -14,833 | |||||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||||||||
Net income | 3,678 | -2,618 | - | 371 | -5,075 | -1,757 | 3,677 | ||||||||||||||||||||||||
Other comprehensive income | - | - | -234 | - | - | - | - | ||||||||||||||||||||||||
Purchases | - | 60,111 | - | - | - | - | - | ||||||||||||||||||||||||
Sales | - | - | - | -8,250 | - | - | - | ||||||||||||||||||||||||
Settlements | -9,225 | -27,032 | -1,775 | - | -24,683 | 11,402 | - | ||||||||||||||||||||||||
Net transfers into/(out of) Level 3 | 5,480 | -19,854 | (b) | - | - | - | - | - | |||||||||||||||||||||||
Balance on December 31, 2012 | $ | 17,992 | $ | 221,094 | $ | 5,253 | $ | 4,300 | $ | 114,311 | $ | -2,175 | $ | -11,156 | |||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 2,084 | (a) | $ | -2,618 | (a) | $ | - | $ | -4,700 | (d) | $ | -3,957 | (a) | $ | -1,757 | (c) | $ | 3,677 | (a) | |||||||||||
Primarily included in mortgage banking income on the Consolidated Statements of Income. | |||||||||||||||||||||||||||||||
Transfers out of recurring loans held-for-sale level 3 balances reflect movements out of loans held-for-sale and into real estate acquired by foreclosure (level 3 nonrecurring). | |||||||||||||||||||||||||||||||
Included in Other expense. | |||||||||||||||||||||||||||||||
Represents recognized gains and losses attributable to venture capital investments classified within securities available-for-sale that are included in securities gains/(losses) in noninterest income. | |||||||||||||||||||||||||||||||
In third quarter 2014, FHN completed sales of first lien mortgage loans from its loans held-for-sale portfolio. The sale populations primarily represented loans that had been originated with the intent to sell to FNMA or FHLMC and consisted of repurchased loans as well as loans that remained after FHN’s exit of mortgage origination activities in 2008. Smaller amounts of jumbo loans were also included in the sale, along with some loans insured under government programs. Almost all of these loans had been accounted for at elected fair value (a recurring measurement) with a small amount having been accounted for as LOCOM loans (a nonrecurring measurement). The contracted sale values for the loans reflected a substantial improvement in pricing for pre-2009 vintage first lien mortgages in comparison to FHN’s historical methodologies used to estimate fair value, which incorporate significant Level 3 inputs within a discounted cash flow model. Accordingly, the loans being sold were marked to the revised estimate of fair value during the quarter and the pricing evidence from the sale transactions was considered a Level 2 input within the valuation process for the remaining non-governmental guaranteed portion of first lien mortgage loans held-for-sale. In fourth quarter 2012, FHN determined that the level of market information on prepayment speeds and discount rates associated with its principal only trading securities had become more limited. In response, FHN increased its use of observable inputs and transferred these balances to Level 3. | |||||||||||||||||||||||||||||||
Nonrecurring Fair Value Measurements | |||||||||||||||||||||||||||||||
From time to time, FHN may be required to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of LOCOM accounting or write-downs of individual assets. For assets measured at fair value on a nonrecurring basis which were still held on the balance sheet at December 31, 2014, 2013, and 2012, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment, the related carrying value, and the fair value adjustments recorded during the respective periods. | |||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Carrying value at December 31, 2014 | 31-Dec-14 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 3,322 | $ | - | $ | 3,322 | $ | 46 | |||||||||||||||||||||
Loans held-for-sale - first mortgages | - | - | 846 | 846 | -470 | ||||||||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 40,531 | 40,531 | -714 | ||||||||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 30,430 | 30,430 | -3,465 | ||||||||||||||||||||||||||
Other assets (c) | - | - | 63,821 | 63,821 | -4,559 | ||||||||||||||||||||||||||
$ | -9,162 | ||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Carrying value at December 31, 2013 | 31-Dec-13 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 6,185 | $ | - | $ | 6,185 | $ | -122 | |||||||||||||||||||||
Loans held-for-sale - first mortgages | - | - | 9,457 | 9,457 | 139 | ||||||||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 62,839 | 62,839 | -3,109 | ||||||||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 45,753 | 45,753 | -4,987 | ||||||||||||||||||||||||||
Other assets (c) | - | - | 66,128 | 66,128 | -4,902 | ||||||||||||||||||||||||||
$ | -12,981 | ||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Carrying value at December 31, 2012 | 31-Dec-12 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 23,902 | $ | - | $ | 23,902 | $ | 15 | |||||||||||||||||||||
Loans held-for-sale - first mortgages | - | - | 12,054 | 12,054 | -436 | ||||||||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 117,064 | 117,064 | -55,948 | ||||||||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 41,767 | 41,767 | -9,422 | ||||||||||||||||||||||||||
Other assets (c) | - | - | 76,501 | 76,501 | -8,248 | ||||||||||||||||||||||||||
$ | -74,039 | ||||||||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||||||||||||||||||||||||||||
Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||||||||||||||||||||||||||||
Represents tax credit investments. | |||||||||||||||||||||||||||||||
In first quarter 2013, FHN exercised clean-up calls on first lien mortgage proprietary securitization trusts. In accordance with accounting requirements, FHN initially recognized the associated loans at fair value. Fair value was primarily determined through reference to observable inputs, including current market prices for similar loans. Since these loans were from the 2003 vintage, adjustments were made for the higher yields associated with the loans in comparison to more currently originated loans being sold. This resulted in recognition of an immaterial premium for these transactions. | |||||||||||||||||||||||||||||||
Level 3 Measurements | |||||||||||||||||||||||||||||||
The following tables provide information regarding the unobservable inputs utilized in determining the fair value of level 3 recurring and non-recurring measurements as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||||||||
Level 3 Class | 31-Dec-14 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||||||||
Trading securities - mortgage (a) | $ | 5,637 | Discounted cash flow | Prepayment speeds | 41% - 46% | ||||||||||||||||||||||||||
Discount rate | 8% - 56% | ||||||||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 28,756 | Discounted cash flow | Prepayment speeds - First mortgage | 2% - 12% | |||||||||||||||||||||||||||
Prepayment speeds - HELOC | 5% - 15% | ||||||||||||||||||||||||||||||
Foreclosure losses | 50% - 60% | ||||||||||||||||||||||||||||||
Loss severity trends - First mortgage | 10% - 70% of UPB | ||||||||||||||||||||||||||||||
Loss severity trends - HELOC | 45% - 100% of UPB | ||||||||||||||||||||||||||||||
Draw rate - HELOC | 5% - 12% | ||||||||||||||||||||||||||||||
Mortgage servicing rights (a) | 2,517 | Discounted cash flow | Prepayment speeds | 15.2 CPR | |||||||||||||||||||||||||||
Discount rate | 9.80% | ||||||||||||||||||||||||||||||
Cost to service | $141.40/Loan | ||||||||||||||||||||||||||||||
Earnings on escrow | 1.39% | ||||||||||||||||||||||||||||||
Derivative liabilities, other | 5,240 | Discounted cash flow | Visa covered litigation resolution amount | $4.8 billion - $5.6 billion | |||||||||||||||||||||||||||
Probability of resolution scenarios | 10% - 30% | ||||||||||||||||||||||||||||||
Time until resolution | 12 - 48 months | ||||||||||||||||||||||||||||||
Loans, net of unearned income (b) | 40,531 | Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other collateral valuations | Borrowing base certificates adjustment | 20% - 50% of gross value | |||||||||||||||||||||||||||||
Financial Statements/Auction values adjustment | 0% - 25% of reported value | ||||||||||||||||||||||||||||||
Real estate acquired by foreclosure (c) | 30,430 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other assets (d) | 63,821 | Discounted cash flow | Adjustments to current sales yields for specific properties | 0% - 15% adjustment to yield | |||||||||||||||||||||||||||
Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 25% of appraisal | |||||||||||||||||||||||||||||
The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph. | |||||||||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||||||||||||||||||||||||||||
Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||||||||||||||||||||||||||||
Represents tax credit investments. | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||||||||
Level 3 Class | 31-Dec-13 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||||||||
Trading securities - mortgage (a) | $ | 7,195 | Discounted cash flow | Prepayment speeds | 38% - 45% | ||||||||||||||||||||||||||
Discount rate | NM | ||||||||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 239,913 | Discounted cash flow | Prepayment speeds - First mortgage | 6% - 10% | |||||||||||||||||||||||||||
Prepayment speeds - HELOC | 3% - 12% | ||||||||||||||||||||||||||||||
Credit spreads | 2% - 4% | ||||||||||||||||||||||||||||||
Delinquency adjustment factor | 15% - 25% added to credit spread | ||||||||||||||||||||||||||||||
Loss severity trends - First mortgage | 50% - 60% of UPB | ||||||||||||||||||||||||||||||
Loss severity trends - HELOC | 35% - 100% of UPB | ||||||||||||||||||||||||||||||
Draw Rate - HELOC | 2% - 11% | ||||||||||||||||||||||||||||||
Venture capital investments | 4,300 | Industry comparables | Adjustment for minority interest and small business status | 40% - 50% discount | |||||||||||||||||||||||||||
Discounted cash flow | Discount rate | 25% - 30% | |||||||||||||||||||||||||||||
Earnings capitalization rate | 20% - 25% | ||||||||||||||||||||||||||||||
Mortgage servicing rights (a) | 72,793 | Discounted cash flow | Prepayment speeds | 19.7 CPR | |||||||||||||||||||||||||||
Discount rate | 8.60% | ||||||||||||||||||||||||||||||
Cost to service | $162.00/Loan | ||||||||||||||||||||||||||||||
Earnings on escrow | 1.39% | ||||||||||||||||||||||||||||||
Derivative liabilities, other | 2,915 | Discounted cash flow | Visa covered litigation resolution amount | $4.4 billion - $5.0 billion | |||||||||||||||||||||||||||
Probability of resolution scenarios | 15% - 45% | ||||||||||||||||||||||||||||||
Time until resolution | 6 - 30 months | ||||||||||||||||||||||||||||||
Loans, net of unearned income (b) | 62,839 | Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other collateral valuations | Borrowing base certificates adjustment | 20% - 50% of gross value | |||||||||||||||||||||||||||||
Financial Statements/Auction Values adjustment | 0% - 25% of reported value | ||||||||||||||||||||||||||||||
Real estate acquired by foreclosure (c) | 45,753 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other assets (d) | 66,128 | Discounted cash flow | Adjustments to current sales yields for specific properties | 0% - 15% adjustment to yield | |||||||||||||||||||||||||||
Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 25% of appraisal | |||||||||||||||||||||||||||||
NM – not meaningful | |||||||||||||||||||||||||||||||
The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph. | |||||||||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||||||||||||||||||||||||||||
Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||||||||||||||||||||||||||||
Represents tax credit investments. | |||||||||||||||||||||||||||||||
Mortgage servicing rights and other retained interests. Prepayment rates and credit spreads (part of the discount rate) are significant unobservable inputs used in the fair value measurement of FHN’s MSR and mortgage trading securities which include principal only strips, excess interest IO, and subordinated bonds. Cost to service and earnings on escrow are additional unobservable inputs included in the valuation of MSR. Increases in prepayment rates, credit spreads and costs to service in isolation would result in significantly lower fair value measurements for the associated assets. Conversely, decreases in prepayment rates, credit spreads and costs to service in isolation would result in significantly higher fair value measurements for the associated assets. An increase/(decrease) in earnings on escrow in isolation would be accompanied by an increase/(decrease) in the value of the related MSR. Generally, when market interest rates decline and other factors favorable to prepayments occur, there is a corresponding increase in prepayment rates as customers are expected to refinance existing mortgages under more favorable interest rate terms. Generally, changes in discount rates directionally mirror the changes in market interest rates. In third quarter 2013, FHN agreed to sell substantially all its remaining legacy mortgage servicing. Sales commenced in fourth quarter 2013 and were substantially completed in first quarter 2014. FHN used the price in the definitive agreement, as adjusted for the portion of pricing that was not specific to the MSR and excess interest, as a third-party pricing source in the valuation of the remaining servicing assets as of December 31, 2014. | |||||||||||||||||||||||||||||||
Prior to the contracted servicing sale, the MSR Hedging Working Group reviewed the overall assessment of the estimated fair value of MSR and excess interests weekly and was responsible for approving the critical assumptions used by management to determine the estimated fair value of FHN’s retained interests. In addition, this working group reviewed the source of significant changes to the carrying values each quarter and was responsible for hedges and approving hedging strategies during periods when the MSR was hedged. Hedges were terminated upon execution of the definitive agreement to sell servicing. Subsequent to the contracted servicing sale, FHN's Corporate Accounting Department monitors sale activity and changes in the fair value of MSR and excess interest monthly. | |||||||||||||||||||||||||||||||
Prior to the contracted servicing sale, FHN also engaged in a process referred to as “price discovery” on a quarterly basis to assess the reasonableness of the estimated fair value of retained interests. Price discovery was conducted through a process of obtaining the following information: (1) quarterly informal (and an annual formal) valuation of the servicing portfolio by prominent independent mortgage-servicing brokers and (2) a collection of surveys and benchmarking data made available by independent third parties that include peer participants in the mortgage banking business. Although there was no single source of market information that could be relied upon to assess the fair value of MSR or excess interests, FHN reviewed all information obtained during price discovery to determine whether the estimated fair value of MSR was reasonable when compared to market information. | |||||||||||||||||||||||||||||||
Loans held-for-sale. Prepayment rates, foreclosure losses (2014), credit spreads (2013), and delinquency adjustment factors (2013) are significant unobservable inputs used in the fair value measurement of FHN’s residential real estate loans held-for-sale. Loss severity trends are also assessed to evaluate the reasonableness of fair value estimates resulting from discounted cash flows methodologies as well as to estimate fair value for newly repurchased loans and loans that are near foreclosure. Significant increases (decreases) in any of these inputs in isolation would result in significantly lower (higher) fair value measurements. Draw rates are an additional significant unobservable input for HELOCs. Increases (decreases) in the draw rate estimates for HELOCs would increase (decrease) their fair value. All observable and unobservable inputs are re-assessed monthly. Fair value measurements are reviewed at least monthly by FHN’s Corporate Accounting Department. | |||||||||||||||||||||||||||||||
Venture capital investments. The unobservable inputs used in the estimation of fair value for Venture capital investments were adjustments for minority interest and small business status when compared to industry comparables, reduction of cash flow estimates due to industry uncertainty and the discount rate and earnings capitalization rate for a discounted cash flow analysis. For both valuation techniques, the inputs were intended to reflect the nature of the small business and the status of equity tranches held by FHN in relation to the overall valuation. The valuation of venture capital investments was reviewed at least quarterly by FHN’s Equity Investment Review Committee. Changes in valuation were discussed with respect to the appropriateness of the adjustments in relation to the associated triggering events. | |||||||||||||||||||||||||||||||
Derivative liabilities. The determination of fair value for FHN’s derivative liabilities associated with its prior sales of Visa Class B shares include estimation of both the resolution amount for Visa’s Covered Litigation matters as well as the length of time until the resolution occurs. Significant increases (decreases) in either of these inputs in isolation would result in significantly higher (lower) fair value measurements for the derivative liabilities. Additionally, FHN performs a probability weighted multiple resolution scenario to calculate the estimated fair value of these derivative liabilities. Assignment of higher (lower) probabilities to the larger potential resolution scenarios would result in an increase (decrease) in the estimated fair value of the derivative liabilities. The valuation inputs and process are discussed with senior and executive management when significant events affecting the estimate of fair value occur. Inputs are compared to information obtained from the public issuances and filings of Visa, Inc. as well as public information released by other participants in the applicable litigation matters. | |||||||||||||||||||||||||||||||
Loans, net of unearned income and Real estate acquired by foreclosure. Collateral-dependent loans and Real estate acquired by foreclosure are primarily valued using appraisals based on sales of comparable properties in the same or similar markets. Multiple appraisal firms are utilized to ensure that estimated values are consistent between firms. This process occurs within FHN’s Credit Risk Management and Loan Servicing functions (primarily consumer) and the Credit Risk Management Committee reviews valuation methodologies and loss information for reasonableness. Back testing is performed during the year through comparison to ultimate disposition values and is reviewed quarterly within the Credit Risk Management function. Other collateral (receivables, inventory, equipment, etc.) is valued through borrowing base certificates, financial statements and/or auction valuations. These valuations are discounted based on the quality of reporting, knowledge of the marketability/collectability of the collateral and historical disposition rates. | |||||||||||||||||||||||||||||||
Other assets – tax credit investments. The estimated fair value of tax credit investments is generally determined in relation to the yield (i.e., future tax credits to be received) an acquirer of these investments would expect in relation to the yields experienced on current new issue and/or secondary market transactions. Thus, as tax credits are recognized, the future yield to a market participant is reduced, resulting in consistent impairment of the individual investments. Individual investments are reviewed for impairment quarterly, which may include the consideration of additional marketability discounts related to specific investments. Unusual valuation adjustments, and the associated triggering events, are discussed with senior and executive management, when appropriate. A portfolio review is conducted annually, with the assistance of a third party, to assess the reasonableness of current valuations. | |||||||||||||||||||||||||||||||
Fair Value Option | |||||||||||||||||||||||||||||||
FHN elected the fair value option on a prospective basis for almost all types of mortgage loans originated for sale purposes under the Financial Instruments Topic (“ASC 825”). FHN determined that the election reduced certain timing differences and better matched changes in the value of such loans with changes in the value of derivatives used as economic hedges for these assets at the time of election. After the 2008 divestiture of certain mortgage banking operations and the significant decline of mortgage loans originated for sale, FHN discontinued hedging the mortgage warehouse. | |||||||||||||||||||||||||||||||
Repurchased loans are recognized within loans held-for-sale at fair value at the time of repurchase, which includes consideration of the credit status of the loans and the estimated liquidation value. FHN has elected to continue recognition of these loans at fair value in periods subsequent to reacquisition. Due to the credit-distressed nature of the vast majority of repurchased loans and the related loss severities experienced upon repurchase, FHN believes that the fair value election provides a more timely recognition of changes in value for these loans that occur subsequent to repurchase. Absent the fair value election, these loans would be subject to valuation at the LOCOM value, which would prevent subsequent values from exceeding the initial fair value, determined at the time of repurchase, but would require recognition of subsequent declines in value. Thus, the fair value election provides for a more timely recognition of any potential future recoveries in asset values while not affecting the requirement to recognize subsequent declines in value. | |||||||||||||||||||||||||||||||
Prior to 2010, FHN transferred certain servicing assets in transactions that did not qualify for sale treatment due to certain recourse provisions. In fourth quarter 2013, these recourse provisions expired and the transaction was recognized as a sale. Prior to fourth quarter 2013, the associated proceeds were recognized within other short-term borrowings in the Consolidated Statements of Condition. Since the servicing assets were recognized at fair value and changes in the fair value of the related financing liabilities mirrored the change in fair value of the associated servicing assets, management elected to account for the financing liabilities at fair value. Since the servicing assets had already been delivered to the buyer, the fair value of the financing liabilities associated with the transaction did not reflect any instrument-specific credit risk. | |||||||||||||||||||||||||||||||
The following tables reflect the differences between the fair value carrying amount of residential real estate loans held-for-sale measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity. | |||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value carrying amount | Aggregate unpaid principal | Fair value carrying amount less aggregate unpaid principal | ||||||||||||||||||||||||||||
Residential real estate loans held-for-sale reported at fair value: | |||||||||||||||||||||||||||||||
Total loans | $ | 27,910 | $ | 43,822 | $ | -15,912 | |||||||||||||||||||||||||
Nonaccrual loans | 7,430 | 14,316 | -6,886 | ||||||||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 2,587 | 4,000 | -1,413 | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value carrying amount | Aggregate unpaid principal | Fair value carrying amount less aggregate unpaid principal | ||||||||||||||||||||||||||||
Residential real estate loans held-for-sale reported at fair value: | |||||||||||||||||||||||||||||||
Total loans | $ | 230,456 | $ | 378,326 | $ | -147,870 | |||||||||||||||||||||||||
Nonaccrual loans | 64,231 | 137,301 | -73,070 | ||||||||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 7,765 | 15,854 | -8,089 | ||||||||||||||||||||||||||||
Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table: | |||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
31-Dec | |||||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Changes in fair value included in net income: | |||||||||||||||||||||||||||||||
Mortgage banking noninterest income | |||||||||||||||||||||||||||||||
Loans held-for-sale | $ | 52,494 | $ | -4,387 | $ | -2,618 | |||||||||||||||||||||||||
Other short-term borrowings | - | -3 | 3,677 | ||||||||||||||||||||||||||||
For the twelve months ended December 31, 2014, 2013, and 2012, the amounts for residential real estate loans held-for-sale include a gain of $2.8 million and a loss of $1.5 million and $1.8 million, respectively, in pretax earnings that are attributable to changes in instrument-specific credit risk. The portion of the fair value adjustments related to credit risk was determined based on both a quality adjustment for delinquencies and the full credit spread on the non-conforming loans. Interest income on residential real estate loans held-for-sale measured at fair value is calculated based on the note rate of the loan and is recorded in the interest income section of the Consolidated Statements of Income as interest on loans held-for-sale. | |||||||||||||||||||||||||||||||
Determination of Fair Value | |||||||||||||||||||||||||||||||
In accordance with ASC 820-10-35, fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following describes the assumptions and methodologies used to estimate the fair value of financial instruments and MSR recorded at fair value in the Consolidated Statements of Condition and for estimating the fair value of financial instruments for which fair value is disclosed under ASC 825-10-50. | |||||||||||||||||||||||||||||||
Short-term financial assets. Federal funds sold, securities purchased under agreements to resell, and interest bearing deposits with other financial institutions and the Federal Reserve are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. | |||||||||||||||||||||||||||||||
Trading securities and trading liabilities. Trading securities and trading liabilities are recognized at fair value through current earnings. Trading inventory held for broker-dealer operations is included in trading securities and trading liabilities. Broker-dealer long positions are valued at bid price in the bid-ask spread. Short positions are valued at the ask price. Inventory positions are valued using observable inputs including current market transactions, LIBOR and U.S. treasury curves, credit spreads, and consensus prepayment speeds. Trading loans are valued using observable inputs including current market transactions, swap rates, mortgage rates, and consensus prepayment speeds. | |||||||||||||||||||||||||||||||
Trading securities also include retained interests in prior securitizations that qualify as financial assets, which primarily include interest-only strips, principal-only strips and subordinated bonds. In third quarter 2013, FHN agreed to sell substantially all of its remaining legacy mortgage servicing, including excess interest. Since that time FHN has used the price in the definitive agreement, as adjusted for the portion of pricing that was not specific to the excess interest, as a third-party pricing source in the valuation of the excess interest. FHN uses inputs including yield curves, credit spreads, and prepayment speeds to determine the fair value of principal-only strips. Subordinated bonds are bonds with junior priority and are valued using an internal model which includes contractual terms, frequency and severity of loss (credit spreads), prepayment speeds of the underlying collateral, and the yield that a market participant would require. | |||||||||||||||||||||||||||||||
Prior to the third quarter 2013 sale, the fair value of excess interest was determined using prices from closely comparable assets such as MSR that were tested against prices determined using a valuation model that calculated the present value of estimated future cash flows. Inputs utilized in valuing excess interest were consistent with those used to value the related MSR. The fair value of excess interest typically changes based on changes in the discount rate and differences between modeled prepayment speeds and credit losses and actual experience. FHN used assumptions in the model that it believes are comparable to those used by brokers and other service providers. FHN also periodically compared its estimates of fair value and assumptions with brokers, service providers, recent market activity, and against its own experience. | |||||||||||||||||||||||||||||||
Securities available-for-sale. Securities available-for-sale includes the investment portfolio accounted for as available-for-sale under ASC 320-10-25, federal bank stock holdings, short-term investments in mutual funds, and prior to third quarter 2014, venture capital investments. Valuations of available-for-sale securities are performed using observable inputs obtained from market transactions in similar securities. Typical inputs include LIBOR and U.S. treasury curves, consensus prepayment estimates, and credit spreads. When available, broker quotes are used to support these valuations. Certain government agency debt obligations with limited trading activity are valued using a discounted cash flow model that incorporates a combination of observable and unobservable inputs. Primary observable inputs include contractual cash flows and the treasury curve. Significant unobservable inputs include estimated trading spreads and estimated prepayment speeds. | |||||||||||||||||||||||||||||||
Investments in the stock of the Federal Reserve Bank and Federal Home Loan Banks are recognized at historical cost in the Consolidated Statements of Condition which is considered to approximate fair value. Short-term investments in mutual funds are measured at the funds’ reported closing net asset values. Investments in equity securities are valued using quoted market prices. Prior to 2014, venture capital investments were typically measured using significant internally generated inputs including adjustments to industry comparables and discounted cash flows analysis. | |||||||||||||||||||||||||||||||
Securities held-to-maturity. Securities held-to-maturity reflects debt securities for which management has the positive intent and ability to hold to maturity. To the extent possible, valuations of held-to-maturity securities are performed using observable inputs obtained from market transactions in similar securities. Typical inputs include LIBOR and U.S. treasury curves and credit spreads. Debt securities with limited trading activity are valued using a discounted cash flow model that incorporates a combination of observable and unobservable inputs. Primary observable inputs include contractual cash flows, the treasury curve and credit spreads from similar instruments. Significant unobservable inputs include estimated credit spreads for individual issuers and instruments as well as prepayment speeds, as applicable. | |||||||||||||||||||||||||||||||
Loans held-for-sale. For applicable loans current transaction prices and /or bid values on similar assets are used in valuing residential real estate loans held-for-sale. Uncommitted bids may be adjusted based on other available market information. For all other loans FHN determines the fair value of residential real estate loans held-for-sale using a discounted cash flow model which incorporates both observable and unobservable inputs. Commencing in fourth quarter 2014, inputs include current mortgage rates for similar products, estimated prepayment rates, foreclosure losses, and various loan performance measures (delinquency, LTV, credit score). Prior to fourth quarter 2014, typical inputs included contractual cash flow requirements, current mortgage rates for similar products, estimated prepayment rates, credit spreads and delinquency penalty adjustments. Adjustments for delinquency and other differences in loan characteristics are typically reflected in the model’s discount rates. Loss severity trends and the value of underlying collateral are also considered in assessing the appropriate fair value for severely delinquent loans and loans in foreclosure. The valuation of HELOCs also incorporates estimates of loan draw rates as well as estimated cancellation rates for loans expected to become delinquent. | |||||||||||||||||||||||||||||||
Loans held-for-sale also includes loans made by the Small Business Administration (“SBA”), which are accounted for at LOCOM. The fair value of SBA loans is determined using an expected cash flow model that utilizes observable inputs such as the spread between LIBOR and prime rates, consensus prepayment speeds, and the treasury curve. The fair value of other non-residential real estate loans held-for-sale is approximated by their carrying values based on current transaction values. | |||||||||||||||||||||||||||||||
Loans, net of unearned income. Loans, net of unearned income are recognized at the amount of funds advanced, less charge-offs and an estimation of credit risk represented by the allowance for loan losses. The fair value estimates for disclosure purposes differentiate loans based on their financial characteristics, such as product classification, vintage, loan category, pricing features, and remaining maturity. | |||||||||||||||||||||||||||||||
The fair value of floating rate loans is estimated through comparison to recent market activity in loans of similar product types, with adjustments made for differences in loan characteristics. In situations where market pricing inputs are not available, fair value is considered to approximate book value due to the monthly repricing for commercial and consumer loans, with the exception of floating rate 1-4 family residential mortgage loans which reprice annually and will lag movements in market rates. The fair value for floating rate 1-4 family mortgage loans is calculated by discounting future cash flows to their present value. Future cash flows are discounted to their present value by using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same time period. | |||||||||||||||||||||||||||||||
Prepayment assumptions based on historical prepayment speeds and industry speeds for similar loans have been applied to the floating rate 1-4 family residential mortgage portfolio. | |||||||||||||||||||||||||||||||
The fair value of fixed rate loans is estimated through comparison to recent market activity in loans of similar product types, with adjustments made for differences in loan characteristics. In situations where market pricing inputs are not available, fair value is estimated by discounting future cash flows to their present value. Future cash flows are discounted to their present value by using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same time period. Prepayment assumptions based on historical prepayment speeds and industry speeds for similar loans have been applied to the fixed rate mortgage and installment loan portfolios. | |||||||||||||||||||||||||||||||
For all loan portfolio classes, adjustments are made to reflect liquidity or illiquidity of the market. Such adjustments reflect discounts that FHN believes are consistent with what a market participant would consider in determining fair value given current market conditions. | |||||||||||||||||||||||||||||||
Individually impaired loans are measured using either a discounted cash flow methodology or the estimated fair value of the underlying collateral less costs to sell, if the loan is considered collateral-dependent. In accordance with accounting standards, the discounted cash flow analysis utilizes the loan’s effective interest rate for discounting expected cash flow amounts. Thus, this analysis is not considered a fair value measurement in accordance with ASC 820. However, the results of this methodology are considered to approximate fair value for the applicable loans. Expected cash flows are derived from internally-developed inputs primarily reflecting expected default rates on contractual cash flows. For loans measured using the estimated fair value of collateral less costs to sell, fair value is estimated using appraisals of the collateral. Collateral values are monitored and additional write-downs are recognized if it is determined that the estimated collateral values have declined further. Estimated costs to sell are based on current amounts of disposal costs for similar assets. Carrying value is considered to reflect fair value for these loans. | |||||||||||||||||||||||||||||||
Mortgage servicing rights. FHN recognizes all classes of MSR at fair value. In third quarter 2013, FHN agreed to sell substantially all of its remaining legacy mortgage servicing. Since that time FHN has used the price in the definitive agreement, as adjusted for the portion of pricing that was not specific to the MSR, as a third-party pricing source in the valuation of the MSR. | |||||||||||||||||||||||||||||||
Since sales of MSR tend to occur in private transactions and the precise terms and conditions of the sales are typically not readily available, there is a limited market to refer to in determining the fair value of MSR. As such, prior to the third quarter 2013 sale agreement, FHN primarily relied on a discounted cash flow model to estimate the fair value of its MSR. This model calculated estimated fair value of the MSR using predominant risk characteristics of MSR such as interest rates, type of product (fixed vs. variable), age (new, seasoned, or moderate), agency type and other factors. FHN used assumptions in the model that it believed were comparable to those used by brokers and other service providers. FHN also periodically compared its estimates of fair value and assumptions with brokers, service providers, recent market activity, and against its own experience. | |||||||||||||||||||||||||||||||
Derivative assets and liabilities. The fair value for forwards and futures contracts is based on current transactions involving identical securities. Futures contracts are exchange-traded and thus have no credit risk factor assigned as the risk of non-performance is limited to the clearinghouse used. | |||||||||||||||||||||||||||||||
Valuations of other derivatives (primarily interest rate related swaps, swaptions, caps, and collars) are based on inputs observed in active markets for similar instruments. Typical inputs include the LIBOR curve, Overnight Indexed Swap ("OIS") curve, option volatility, and option skew. In measuring the fair value of these derivative assets and liabilities, FHN has elected to consider credit risk based on the net exposure to individual counterparties. Credit risk is mitigated for these instruments through the use of mutual margining and master netting agreements as well as collateral posting requirements. Any remaining credit risk related to interest rate derivatives is considered in determining fair value through evaluation of additional factors such as customer loan grades and debt ratings. Foreign currency related derivatives also utilize observable exchange rates in the determination of fair value. | |||||||||||||||||||||||||||||||
In conjunction with the sales of portions of its Visa Class B shares, FHN and the purchasers entered into derivative transactions whereby FHN will make, or receive, cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. The fair value of these derivatives has been determined using a discounted cash flow methodology for estimated future cash flows determined through use of probability weighted scenarios for multiple estimates of Visa’s aggregate exposure to covered litigation matters, which include consideration of amounts funded by Visa into its escrow account for the covered litigation matters. Since this estimation process required application of judgment in developing significant unobservable inputs used to determine the possible outcomes and the probability weighting assigned to each scenario, these derivatives have been classified within Level 3 in fair value measurements disclosures. | |||||||||||||||||||||||||||||||
Real estate acquired by foreclosure. Real estate acquired by foreclosure primarily consists of properties that have been acquired in satisfaction of debt. These properties are carried at the lower of the outstanding loan amount or estimated fair value less estimated costs to sell the real estate. Estimated fair value is determined using appraised values with subsequent adjustments for deterioration in values that are not reflected in the most recent appraisal. Real estate acquired by foreclosure also includes properties acquired in compliance with HUD servicing guidelines which are carried at the estimated amount of the underlying government insurance or guarantee. | |||||||||||||||||||||||||||||||
Nonearning assets. For disclosure purposes, nonearning assets include cash and due from banks, accrued interest receivable, and capital markets receivables. Due to the short-term nature of cash and due from banks, accrued interest receivable, and capital markets receivables, the fair value is approximated by the book value. | |||||||||||||||||||||||||||||||
Other assets. For disclosure purposes, other assets consist of tax credit investments and deferred compensation assets that are considered financial assets. Tax credit investments are written down to estimated fair value quarterly based on the estimated value of the associated tax credits. Deferred compensation assets are recognized at fair value, which is based on quoted prices in active markets. | |||||||||||||||||||||||||||||||
Defined maturity deposits. The fair value of these deposits is estimated by discounting future cash flows to their present value. Future cash flows are discounted by using the current market rates of similar instruments applicable to the remaining maturity. For disclosure purposes, defined maturity deposits include all certificates of deposit and other time deposits. | |||||||||||||||||||||||||||||||
Undefined maturity deposits. In accordance with ASC 825, the fair value of these deposits is approximated by the book value. For the purpose of this disclosure, undefined maturity deposits include demand deposits, checking interest accounts, savings accounts, and money market accounts. | |||||||||||||||||||||||||||||||
Short-term financial liabilities. The fair value of federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings are approximated by the book value. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. Prior to fourth quarter 2013, Other short-term borrowings included a liability associated with transfers of MSR that did not qualify for sale accounting. This liability was accounted for at elected fair value, which was measured consistent with the related MSR, as previously described. | |||||||||||||||||||||||||||||||
Term borrowings. The fair value of term borrowings is based on quoted market prices or dealer quotes for the identical liability when traded as an asset. When pricing information for the identical liability is not available, relevant prices for similar debt instruments are used with adjustments being made to the prices obtained for differences in characteristics of the debt instruments. If no relevant pricing information is available, the fair value is approximated by the present value of the contractual cash flows discounted by the investor’s yield which considers FHN’s and FTBNA’s debt ratings. | |||||||||||||||||||||||||||||||
Other noninterest-bearing liabilities. For disclosure purposes, other noninterest-bearing liabilities include accrued interest payable and capital markets payables. Due to the short-term nature of these liabilities, the book value is considered to approximate fair value. | |||||||||||||||||||||||||||||||
Loan commitments. Fair values of these commitments are based on fees charged to enter into similar agreements taking into account the remaining terms of the agreements and the counterparties’ credit standing. | |||||||||||||||||||||||||||||||
Other commitments. Fair values of these commitments are based on fees charged to enter into similar agreements. | |||||||||||||||||||||||||||||||
The following fair value estimates are determined as of a specific point in time utilizing various assumptions and estimates. The use of assumptions and various valuation techniques, as well as the absence of secondary markets for certain financial instruments, will likely reduce the comparability of fair value disclosures between financial institutions. Due to market illiquidity, the fair values for loans, net of unearned income, loans held-for-sale, and term borrowings as of December 31, 2014 and 2013, involve the use of significant internally-developed pricing assumptions for certain components of these line items. These assumptions are considered to reflect inputs that market participants would use in transactions involving these instruments as of the measurement date. Assets and liabilities that are not financial instruments (including MSR) have not been included in the following table such as the value of long-term relationships with deposit and trust customers, premises and equipment, goodwill and other intangibles, deferred taxes, and certain other assets and other liabilities. Accordingly, the total of the fair value amounts does not represent, and should not be construed to represent, the underlying value of the Company. | |||||||||||||||||||||||||||||||
The following tables summarize the book value and estimated fair value of financial instruments recorded in the Consolidated Statements of Condition as well as unfunded commitments as of December 31, 2014 and 2013. | |||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||
Book | Fair Value | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||
Loans, net of unearned income and allowance for loan losses | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||
Commercial, financial and industrial | $ | 8,940,275 | $ | - | $ | - | $ | 8,902,045 | $ | 8,902,045 | |||||||||||||||||||||
Commercial real estate | 1,259,143 | - | - | 1,243,404 | 1,243,404 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||||
Consumer real estate | 4,935,060 | - | - | 4,747,761 | 4,747,761 | ||||||||||||||||||||||||||
Permanent mortgage | 519,839 | - | - | 483,179 | 483,179 | ||||||||||||||||||||||||||
Credit card & other | 343,401 | - | - | 345,198 | 345,198 | ||||||||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 15,997,718 | - | - | 15,721,587 | 15,721,587 | ||||||||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||||||||
Interest-bearing cash | 1,621,967 | 1,621,967 | - | - | 1,621,967 | ||||||||||||||||||||||||||
Federal funds sold | 63,080 | - | 63,080 | - | 63,080 | ||||||||||||||||||||||||||
Securities purchased under agreements to resell | 659,154 | - | 659,154 | - | 659,154 | ||||||||||||||||||||||||||
Total short-term financial assets | 2,344,201 | 1,621,967 | 722,234 | - | 2,344,201 | ||||||||||||||||||||||||||
Trading securities (a) | 1,194,391 | - | 1,188,749 | 5,642 | 1,194,391 | ||||||||||||||||||||||||||
Loans held-for-sale (a) | 141,285 | - | 3,322 | 137,963 | 141,285 | ||||||||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,556,613 | 26,264 | 3,371,236 | 159,113 | 3,556,613 | ||||||||||||||||||||||||||
Securities held-to-maturity | 4,292 | - | - | 5,404 | 5,404 | ||||||||||||||||||||||||||
Derivative assets (a) | 134,088 | 2,345 | 131,743 | - | 134,088 | ||||||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||||
Tax credit investments | 63,821 | - | - | 63,821 | 63,821 | ||||||||||||||||||||||||||
Deferred compensation assets | 25,665 | 25,665 | - | - | 25,665 | ||||||||||||||||||||||||||
Total other assets | 89,486 | 25,665 | - | 63,821 | 89,486 | ||||||||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||||||||
Cash & due from banks | 349,171 | 349,171 | - | - | 349,171 | ||||||||||||||||||||||||||
Capital markets receivables | 42,488 | - | 42,488 | - | 42,488 | ||||||||||||||||||||||||||
Accrued interest receivable | 67,301 | - | 67,301 | - | 67,301 | ||||||||||||||||||||||||||
Total nonearning assets | 458,960 | 349,171 | 109,789 | - | 458,960 | ||||||||||||||||||||||||||
Total assets | $ | 23,921,034 | $ | 2,025,412 | $ | 5,527,073 | $ | 16,093,530 | $ | 23,646,015 | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||
Defined maturity | $ | 1,276,938 | $ | - | $ | 1,282,833 | $ | - | $ | 1,282,833 | |||||||||||||||||||||
Undefined maturity | 16,792,001 | - | 16,792,001 | - | 16,792,001 | ||||||||||||||||||||||||||
Total deposits | 18,068,939 | - | 18,074,834 | - | 18,074,834 | ||||||||||||||||||||||||||
Trading liabilities (a) | 594,314 | - | 594,315 | - | 594,315 | ||||||||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||||||||
Federal funds purchased | 1,037,052 | - | 1,037,052 | - | 1,037,052 | ||||||||||||||||||||||||||
Securities sold under agreements to repurchase | 562,214 | - | 562,214 | - | 562,214 | ||||||||||||||||||||||||||
Other short-term borrowings | 157,218 | - | 157,218 | - | 157,218 | ||||||||||||||||||||||||||
Total short-term financial liabilities | 1,756,484 | - | 1,756,484 | - | 1,756,484 | ||||||||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||||||||
Real estate investment trust-preferred | 45,896 | - | - | 49,350 | 49,350 | ||||||||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 18,049 | 18,049 | ||||||||||||||||||||||||||
Borrowings secured by residential real estate | 65,612 | - | - | 56,623 | 56,623 | ||||||||||||||||||||||||||
Other long term borrowings | 1,750,597 | - | 1,730,061 | - | 1,730,061 | ||||||||||||||||||||||||||
Total term borrowings | 1,880,105 | - | 1,730,061 | 124,022 | 1,854,083 | ||||||||||||||||||||||||||
Derivative liabilities (a) | 119,239 | 2,035 | 111,964 | 5,240 | 119,239 | ||||||||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||||||||
Capital markets payables | 18,157 | - | 18,157 | - | 18,157 | ||||||||||||||||||||||||||
Accrued interest payable | 23,995 | - | 23,995 | - | 23,995 | ||||||||||||||||||||||||||
Total other noninterest-bearing liabilities | 42,152 | - | 42,152 | - | 42,152 | ||||||||||||||||||||||||||
Total liabilities | $ | 22,461,233 | $ | 2,035 | $ | 22,309,810 | $ | 129,262 | $ | 22,441,107 | |||||||||||||||||||||
Classes are detailed in the recurring and nonrecurring measurement tables. | |||||||||||||||||||||||||||||||
Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||
Book | Fair Value | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||
Loans, net of unearned income and allowance for loan losses | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||
Commercial, financial and industrial | $ | 7,837,130 | $ | - | $ | - | $ | 7,759,902 | $ | 7,759,902 | |||||||||||||||||||||
Commercial real estate | 1,122,676 | - | - | 1,075,385 | 1,075,385 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||||
Consumer real estate | 5,206,586 | - | - | 4,858,031 | 4,858,031 | ||||||||||||||||||||||||||
Permanent mortgage | 639,751 | - | - | 606,038 | 606,038 | ||||||||||||||||||||||||||
Credit card & other | 329,122 | - | - | 331,088 | 331,088 | ||||||||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 15,135,265 | - | - | 14,630,444 | 14,630,444 | ||||||||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||||||||
Interest-bearing cash | 730,297 | 730,297 | - | - | 730,297 | ||||||||||||||||||||||||||
Federal funds sold | 66,079 | - | 66,079 | - | 66,079 | ||||||||||||||||||||||||||
Securities purchased under agreements to resell | 412,614 | - | 412,614 | - | 412,614 | ||||||||||||||||||||||||||
Total short-term financial assets | 1,208,990 | 730,297 | 478,693 | - | 1,208,990 | ||||||||||||||||||||||||||
Trading securities (a) | 801,718 | - | 794,518 | 7,200 | 801,718 | ||||||||||||||||||||||||||
Loans held-for-sale (a) | 370,152 | - | 6,185 | 363,967 | 370,152 | ||||||||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,398,457 | 23,259 | 3,168,277 | 206,921 | 3,398,457 | ||||||||||||||||||||||||||
Derivative assets (a) | 181,866 | 3,020 | 178,846 | - | 181,866 | ||||||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||||
Tax credit investments | 66,128 | - | - | 66,128 | 66,128 | ||||||||||||||||||||||||||
Deferred compensation assets | 23,880 | 23,880 | - | - | 23,880 | ||||||||||||||||||||||||||
Total other assets | 90,008 | 23,880 | - | 66,128 | 90,008 | ||||||||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||||||||
Cash & due from banks | 349,216 | 349,216 | - | - | 349,216 | ||||||||||||||||||||||||||
Capital markets receivables | 45,255 | - | 45,255 | - | 45,255 | ||||||||||||||||||||||||||
Accrued interest receivable | 69,208 | - | 69,208 | - | 69,208 | ||||||||||||||||||||||||||
Total nonearning assets | 463,679 | 349,216 | 114,463 | - | 463,679 | ||||||||||||||||||||||||||
Total assets | $ | 21,650,135 | $ | 1,129,672 | $ | 4,740,982 | $ | 15,274,660 | $ | 21,145,314 | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||
Defined maturity | $ | 1,505,712 | $ | - | $ | 1,520,950 | $ | - | $ | 1,520,950 | |||||||||||||||||||||
Undefined maturity | 15,229,244 | - | 15,229,244 | - | 15,229,244 | ||||||||||||||||||||||||||
Total deposits | 16,734,956 | - | 16,750,194 | - | 16,750,194 | ||||||||||||||||||||||||||
Trading liabilities (a) | 368,348 | - | 368,348 | - | 368,348 | ||||||||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||||||||
Federal funds purchased | 1,042,633 | - | 1,042,633 | - | 1,042,633 | ||||||||||||||||||||||||||
Securities sold under agreements to repurchase | 442,789 | - | 442,789 | - | 442,789 | ||||||||||||||||||||||||||
Other short-term borrowings | 181,146 | - | 181,146 | - | 181,146 | ||||||||||||||||||||||||||
Total short-term financial liabilities | 1,666,568 | - | 1,666,568 | - | 1,666,568 | ||||||||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||||||||
Real estate investment trust-preferred | 45,828 | - | - | 47,000 | 47,000 | ||||||||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 17,685 | 17,685 | ||||||||||||||||||||||||||
Borrowings secured by residential real estate | 310,833 | - | - | 268,249 | 268,249 | ||||||||||||||||||||||||||
Other long term borrowings | 1,365,198 | - | 1,372,646 | - | 1,372,646 | ||||||||||||||||||||||||||
Total term borrowings | 1,739,859 | - | 1,372,646 | 332,934 | 1,705,580 | ||||||||||||||||||||||||||
Derivative liabilities (a) | 154,280 | 4,343 | 147,022 | 2,915 | 154,280 | ||||||||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||||||||
Capital markets payables | 21,173 | - | 21,173 | - | 21,173 | ||||||||||||||||||||||||||
Accrued interest payable | 23,813 | - | 23,813 | - | 23,813 | ||||||||||||||||||||||||||
Total other noninterest-bearing liabilities | 44,986 | - | 44,986 | - | 44,986 | ||||||||||||||||||||||||||
Total liabilities | $ | 20,708,997 | $ | 4,343 | $ | 20,349,764 | $ | 335,849 | $ | 20,689,956 | |||||||||||||||||||||
Classes are detailed in the recurring and nonrecurring measurement tables. | |||||||||||||||||||||||||||||||
Level 3 includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0 million. | |||||||||||||||||||||||||||||||
Contractual Amount | Fair Value | ||||||||||||||||||||||||||||||
(Dollars in thousands) | 31-Dec-14 | 31-Dec-13 | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Unfunded Commitments: | |||||||||||||||||||||||||||||||
Loan commitments | $ | 7,309,137 | $ | 7,469,553 | $ | 2,358 | $ | 1,923 | |||||||||||||||||||||||
Standby and other commitments | 331,877 | 318,149 | 4,451 | 4,653 | |||||||||||||||||||||||||||
Certain previously reported amounts have been reclassified to agree with current presentation. |
Restructuring_Repositioning_An
Restructuring, Repositioning, And Efficiency | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ||||||||||||||||||||
Restructuring, Repositioning, And Efficiency | Note 26 – Restructuring, Repositioning, and Efficiency | |||||||||||||||||||
Beginning in 2007, FHN conducted a company-wide review of business practices with the goal of improving its overall profitability and productivity. Such reviews continue throughout the organization. Since 2007, in order to redeploy capital to higher-return businesses, FHN exited or sold non-strategic businesses, eliminated layers of management, and consolidated functional areas. | ||||||||||||||||||||
Generally, restructuring, repositioning, and efficiency charges related to exited businesses are included in the non-strategic segment while charges related to corporate-driven actions are included in the corporate segment. Net charges recognized by FHN in 2014 related to restructuring, repositioning, and efficiency activities were $7.0 million. Of this amount, $7.3 million represent exit costs that were accounted for in accordance with the Exit of Disposal Cost Obligations Topic of the FASB Accounting Standards Codification (“ASC 420”). Significant expenses recognized in 2014 resulted from the following actions: | ||||||||||||||||||||
Severance and other employee costs of $2.6 million primarily related to efficiency initiatives within corporate and bank services functions which are classified as Employee compensation, incentives and benefits within noninterest expense. | ||||||||||||||||||||
Lease abandonment expenses of $4.7 million primarily related to efficiency initiatives within corporate and bank services functions which are classified as Occupancy within noninterest expense. | ||||||||||||||||||||
Net charges recognized by FHN in 2013 related to restructuring, repositioning, and efficiency activities were $5.3 million. Of this amount, $3.8 million represent exit costs that were accounted for in accordance with ASC 420. Significant expenses recognized in 2013 resulted from the following actions: | ||||||||||||||||||||
Severance and other employee costs of $3.7 million primarily related to efficiency initiatives within corporate and bank services functions which are classified as Employee compensation, incentives and benefits within noninterest expense. | ||||||||||||||||||||
Expense of $2.2 million related to estimated costs for obligations associated with a definitive agreement to sell substantially all remaining legacy mortgage servicing which is reflected in Mortgage banking income. | ||||||||||||||||||||
During 2012 FHN recognized a net cost of $24.9 million related to restructuring, repositioning, and efficiency activities. Of this amount, $23.1 million represent exit costs that were accounted for in accordance with ASC 420. Significant expenses recognized in 2012 resulted from the following actions: | ||||||||||||||||||||
Severance and other employee costs of $22.9 million primarily related to efficiency initiatives within corporate and bank services functions which are classified as Employee compensation, incentives and benefits within noninterest expense. | ||||||||||||||||||||
Expense of $2.6 million related to prior servicing sales which is reflected in Mortgage banking income. | ||||||||||||||||||||
Settlement of the obligations arising from current initiatives will be funded from operating cash flows. The effect of suspending depreciation on assets held-for-sale was immaterial to FHN’s results of operations for all periods. Due to the broad nature of the actions being taken, substantially all components of expense have benefited from past efficiency initiatives and are expected to benefit from the current efficiency initiatives. | ||||||||||||||||||||
Activity in the restructuring and repositioning liability for the years ended December 31, 2014, 2013, and 2012 is presented in the following table, along with other restructuring and repositioning expenses recognized. | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Dollars in thousands) | Expense | Liability | Expense | Liability | Expense | Liability | ||||||||||||||
Beginning balance | $ | 3,126 | $ | 19,775 | $ | 12,026 | ||||||||||||||
Severance and other employee related costs | $ | 2,641 | 2,641 | $ | 3,691 | 3,691 | $ | 22,897 | 22,897 | |||||||||||
Facility consolidation costs | 4,696 | 4,696 | 131 | 131 | 46 | 46 | ||||||||||||||
Other exit costs, professional fees, and other | - | - | - | - | 111 | 111 | ||||||||||||||
Total accrued | 7,337 | 10,463 | 3,822 | 23,597 | 23,054 | 35,080 | ||||||||||||||
Payments related to: | ||||||||||||||||||||
Severance and other employee related costs | 2,678 | 19,051 | 12,138 | |||||||||||||||||
Facility consolidation costs | 1,067 | 677 | 1,884 | |||||||||||||||||
Other exit costs, professional fees, and other | - | - | 15 | |||||||||||||||||
Accrual reversals | 30 | 743 | 1,268 | |||||||||||||||||
Restructuring and repositioning reserve balance | $ | 6,688 | $ | 3,126 | $ | 19,775 | ||||||||||||||
Other restructuring and repositioning expense: | ||||||||||||||||||||
Mortgage banking expense on servicing sales | -553 | 2,192 | 2,635 | |||||||||||||||||
(Gains)/losses on divestitures | - | -1,000 | -865 | |||||||||||||||||
Impairment of premises and equipment | 222 | 385 | 22 | |||||||||||||||||
Impairment of other assets | - | - | 12 | |||||||||||||||||
Other | - | -96 | - | |||||||||||||||||
Total other restructuring and repositioning expense | -331 | 1,481 | 1,804 | |||||||||||||||||
Total restructuring and repositioning charges | $ | 7,006 | $ | 5,303 | $ | 24,858 | ||||||||||||||
FHN began initiatives related to restructuring in second quarter 2007. The following table presents cumulative amounts incurred to date through December 31, 2014, for costs associated with FHN’s restructuring, repositioning, and efficiency initiatives: | ||||||||||||||||||||
(Dollars in thousands) | Total Expense | |||||||||||||||||||
Severance and other employee related costs | $ | 107,025 | ||||||||||||||||||
Facility consolidation costs | 45,523 | |||||||||||||||||||
Other exit costs, professional fees, and other | 19,165 | |||||||||||||||||||
Other restructuring and repositioning expense: | ||||||||||||||||||||
Loan portfolio divestiture | 7,672 | |||||||||||||||||||
Mortgage banking expense on servicing sales | 25,449 | |||||||||||||||||||
(Gains)/losses on divestitures | -718 | |||||||||||||||||||
Impairment of premises and equipment | 23,004 | |||||||||||||||||||
Impairment of intangible assets | 48,231 | |||||||||||||||||||
Impairment of other assets | 40,504 | |||||||||||||||||||
Other | 7,478 | |||||||||||||||||||
Total restructuring and repositioning charges incurred to date as of December 31, 2014 | $ | 323,333 |
Parent_Company_Financial_Infor
Parent Company Financial Information | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |||||||||||
Parent Company Financial Information [Text Block] | Note 27 – Parent Company Financial Information | ||||||||||
Following are condensed statements of the parent company: | |||||||||||
Statements of Condition | Year Ended December 31 | ||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||
Assets: | |||||||||||
Cash | $ | 167,562 | $ | 81,271 | |||||||
Interest-bearing cash | - | 15,800 | |||||||||
Securities available-for-sale | 2,634 | 1,643 | |||||||||
Notes receivable | 3,460 | 3,610 | |||||||||
Allowance for loan losses | -925 | -925 | |||||||||
Investments in subsidiaries: | |||||||||||
Bank | 3,066,534 | 3,040,499 | |||||||||
Non-bank | 17,870 | 18,044 | |||||||||
Other assets | 195,898 | 207,498 | |||||||||
Total assets | $ | 3,453,033 | $ | 3,367,440 | |||||||
Liabilities and equity: | |||||||||||
Other short-term borrowings | $ | 3,000 | $ | - | |||||||
Accrued employee benefits and other liabilities | 138,233 | 158,091 | |||||||||
Term borrowings | 720,832 | 708,598 | |||||||||
Total liabilities | 862,065 | 866,689 | |||||||||
Total equity | 2,590,968 | 2,500,751 | |||||||||
Total liabilities and equity | $ | 3,453,033 | $ | 3,367,440 | |||||||
Statements of Income | Year Ended December 31 | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Dividend income: | |||||||||||
Bank | $ | 180,000 | $ | 180,000 | $ | 100,000 | |||||
Non-bank | 446 | 957 | 390 | ||||||||
Total dividend income | 180,446 | 180,957 | 100,390 | ||||||||
Interest income | 2 | 125 | 329 | ||||||||
Other income | 6,265 | 3,468 | 1,050 | ||||||||
Total income | 186,713 | 184,550 | 101,769 | ||||||||
Provision/(provision credit) for loan losses | - | -925 | -1,850 | ||||||||
Interest expense: | |||||||||||
Short-term debt | 9 | 20 | 50 | ||||||||
Term borrowings | 23,808 | 24,058 | 24,365 | ||||||||
Total interest expense | 23,817 | 24,078 | 24,415 | ||||||||
Compensation, employee benefits and other expense | 30,400 | 37,490 | 40,286 | ||||||||
Total expense | 54,217 | 60,643 | 62,851 | ||||||||
Income/(loss) before income taxes | 132,496 | 123,907 | 38,918 | ||||||||
Income tax benefit | -20,599 | -20,897 | -23,653 | ||||||||
Income/(loss) before equity in undistributed net income of subsidiaries | 153,095 | 144,804 | 62,571 | ||||||||
Equity in undistributed net income/(loss) of subsidiaries: | |||||||||||
Bank | 65,840 | -114,902 | -90,769 | ||||||||
Non-bank | 588 | -300 | 439 | ||||||||
Net income/(loss) attributable to the controlling interest | $ | 219,523 | $ | 29,602 | $ | -27,759 | |||||
Statements of Cash Flows | Year Ended December 31 | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Operating activities: | |||||||||||
Net income/(loss) | $ | 219,523 | $ | 29,602 | $ | -27,759 | |||||
Less undistributed net income/(loss) of subsidiaries | 66,428 | -115,202 | -90,330 | ||||||||
Income/(loss) before undistributed net income of subsidiaries | 153,095 | 144,804 | 62,571 | ||||||||
Adjustments to reconcile income to net cash provided by operating activities: | |||||||||||
Depreciation, amortization, and other | -390 | -1,314 | -2,335 | ||||||||
Loss on securities | -5,736 | -2,182 | - | ||||||||
Stock-based compensation expense | 11,351 | 16,144 | 16,201 | ||||||||
Net (increase)/decrease in interest receivable and other assets | -1,836 | -4,959 | -14,945 | ||||||||
Net (decrease)/increase in interest payable and other liabilities | 1,505 | 8,626 | 1,599 | ||||||||
Total adjustments | 4,894 | 16,315 | 520 | ||||||||
Net cash provided/(used) by operating activities | 157,989 | 161,119 | 63,091 | ||||||||
Investing activities: | |||||||||||
Securities: | |||||||||||
Sales and prepayments | 4,693 | 599 | 512 | ||||||||
Purchases | -40 | -120 | -180 | ||||||||
Premises and equipment: | |||||||||||
Purchases | -20 | -63 | -225 | ||||||||
Decrease/(increase) in interest-bearing cash | 15,800 | 64,200 | 85,000 | ||||||||
Return on investment in subsidiary | 150 | 90 | - | ||||||||
Net cash provided/(used) by investing activities | 20,583 | 64,706 | 85,107 | ||||||||
Financing activities: | |||||||||||
Preferred stock: | |||||||||||
Proceeds from issuance of preferred stock | - | 95,624 | - | ||||||||
Cash dividends | -6,200 | -4,288 | - | ||||||||
Common stock: | |||||||||||
Exercise of stock options | 1,864 | 651 | 144 | ||||||||
Cash dividends | -47,366 | -38,229 | -10,066 | ||||||||
Repurchase of shares | -43,579 | -91,533 | -133,757 | ||||||||
Term borrowings: | |||||||||||
Repayment of term borrowings | - | -100,000 | - | ||||||||
Increase/(decrease) in short-term borrowings | 3,000 | -27,200 | -900 | ||||||||
Other | - | - | -14 | ||||||||
Net cash (used)/provided by financing activities | -92,281 | -164,975 | -144,593 | ||||||||
Net increase/(decrease) in cash and cash equivalents | 86,291 | 60,850 | 3,605 | ||||||||
Cash and cash equivalents at beginning of year | 81,271 | 20,421 | 16,816 | ||||||||
Cash and cash equivalents at end of year | $ | 167,562 | $ | 81,271 | $ | 20,421 | |||||
Total interest paid | $ | 23,282 | $ | 24,102 | $ | 23,858 | |||||
Total income taxes paid | 17,053 | 31,075 | 10,671 |
Financial_Information_Policy
Financial Information (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Financial Information [Abstract] | |
Basis Of Accounting | Basis of Accounting. The consolidated financial statements of First Horizon National Corporation (“FHN”), including its subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America and follow general practices within the industries in which it operates. This preparation requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the financial statements and could differ from actual results. |
Principles of Consolidation And Basis Of Presentation | Principles of Consolidation and Basis of Presentation. The consolidated financial statements include the accounts of FHN and other entities in which it has a controlling financial interest. Variable Interest Entities (“VIEs”) for which FHN or a subsidiary has been determined to be the primary beneficiary are also consolidated. Affiliates for which FHN is not considered the primary beneficiary and in which FHN does not have a controlling financial interest are accounted for by the equity method. These investments are included in other assets, and FHN’s proportionate share of income or loss is included in noninterest income. All significant intercompany transactions and balances have been eliminated. For purposes of comparability, certain prior period amounts have been reclassified to conform to current year presentation. |
Business Combinations | Business Combinations. FHN accounts for acquisitions as a business combination in accordance with ASC 805, "Business Combinations," which requires acquired assets and liabilities (other than tax balances) to be recorded at fair value. Business combinations are included in the financial statements from the respective dates of acquisition. Acquisition related costs are expensed as incurred. |
Revenue Recognition | Revenue Recognition. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized when the transactions are completed. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. |
Deposit Transactions And Cash Management | Deposit Transactions and Cash Management. Deposit transactions include services related to retail and commercial deposit products (such as service charges on checking accounts), cash management products and services such as electronic transaction processing (Automated Clearing House and Electronic Data Interchange), account reconciliation services, cash vault services, lockbox processing, and information reporting to large corporate clients. |
Insurance Commissions | Insurance Commissions. Insurance commissions are derived from the sale of insurance products, including acting as an independent agent to provide life, long-term care, and disability insurance. |
Trust Services And Investment Management | Trust Services and Investment Management. Trust services and investment management fees include investment management, personal trust, employee benefits, and custodial trust services. |
Brokerage, Management Fees and Commissions | Brokerage, Management Fees and Commissions. Brokerage, management fees and commissions include fees for portfolio management, trade commissions, and annuity and mutual fund sales. |
Statements of Cash Flows | Statements of Cash Flows. For purposes of these statements, cash and due from banks, federal funds sold, and securities purchased under agreements to resell are considered cash and cash equivalents. Federal funds are usually sold for one-day periods, and securities purchased under agreements to resell are short-term, highly liquid investments. |
Trading Activities | Trading Activities. Securities purchased in connection with underwriting or dealer activities (long positions) are carried at fair market value as trading securities. Gains and losses, both realized and unrealized, on these securities are reflected in capital markets noninterest income. Trading liabilities include securities that FHN has sold to other parties but does not own (short positions). FHN is obligated to purchase securities at a future date to cover the short positions. Assets and liabilities for unsettled trades are recorded on the Consolidated Statements of Condition as “Capital markets receivables” or “Capital markets payables.” Retained interests from securitizations in the form of excess interest, interest-only and principal-only strips from sales and securitizations of first lien mortgages are recognized at fair value as trading securities with gains and losses, both realized and unrealized, recognized in mortgage banking income. Excess interest represents rights to receive interest from serviced assets that exceed contractually specified rates. Principal-only strips are principal cash flow tranches, and interest-only strips are interest cash flow tranches. Cash receipts and payments are classified in investing activities on the Consolidated Statements of Cash Flows based on the purpose for which such financial assets were retained. |
Investment Securities | Investment Securities. Investment securities are reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review includes an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Securities that may be sold prior to maturity and equity securities are classified as securities available-for-sale and are carried at fair value. The unrealized gains and losses on securities available-for-sale, including debt securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity. Venture capital investments were classified as securities available-for-sale and were carried at fair value with unrealized gains and losses recognized in noninterest income. |
Realized gains and losses for investment securities are determined by the specific identification method and reported in noninterest income. Declines in value judged to be other-than-temporary based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN has the intent to sell, are also determined by the specific identification method, and reported in noninterest income. For impaired debt securities that FHN does not intend to sell and will not be required to sell prior to recovery but for which credit losses exist, the OTTI recognized is separated between the total impairment related to credit losses which is reported in noninterest income, and the impairment related to all other factors which is excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity. | |
National banks chartered by the federal government are, by law, members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank ("FRB"). Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. | |
Securities Purchased under Resale Agreements and Securities Sold under Repurchase Agreements | Securities Purchased under Resale Agreements and Securities Sold under Repurchase Agreements. FHN enters into short-term purchases of securities under agreements to resell which are accounted for as collateralized financings except where FHN does not have an agreement to sell the same or substantially the same securities before maturity at a fixed or determinable price. All of FHN’s securities purchased under agreements to resell are recognized as collateralized financings. Securities delivered under these transactions are delivered to either the dealer custody account at the FRB or to the applicable counterparty. Securities sold under agreements to repurchase are offered to cash management customers as an automated, collateralized investment account. Securities sold are also used by the retail/commercial bank to obtain favorable borrowing rates on its purchased funds. All of FHN's securities sold under agreements to repurchase are secured borrowings. |
Collateral is valued daily and FHN may require counterparties to deposit additional securities or cash as collateral, or FHN may return cash or securities previously pledged by counterparties, or FHN may be required to post additional securities or cash as collateral, based on the contractual requirements for these transactions. | |
FHN’s capital markets business utilizes securities borrowing arrangements as part of its trading operations. Securities borrowing transactions generally require FHN to deposit cash with the securities lender. The amount of cash advanced is recorded within Securities purchased under agreements to resell in the Consolidated Statements of Condition. These transactions are not considered purchases and the securities borrowed are not recognized by FHN. FHN does not conduct securities lending transactions. | |
Loans Held-for-Sale and Securitization and Residual Interests | Loans Held-for-Sale and Securitization and Residual Interests. Prior to fourth quarter 2008, FHN originated first lien mortgage loans (“the warehouse”) for the purpose of selling them in the secondary market through sales to government sponsored enterprises ("GSEs"), through proprietary securitizations, and to a lesser extent through other whole loan sales. In addition, FHN sold certain of the second lien mortgages and home equity lines of credit (“HELOC”) it produced in the secondary market through securitizations and whole loan sales through third quarter 2007. |
Loans originated or purchased in which management lacks the intent to hold are included in loans held-for-sale in the Consolidated Statements of Condition. FHN has elected the fair value option on a prospective basis for almost all types of mortgage loans held for sale. Such loans are carried at fair value, with changes in the fair value of closed-end mortgage loans recognized in the mortgage banking noninterest income section of the Consolidated Statements of Income. Changes in the fair value of HELOCs are recognized in mortgage banking income on the Consolidated Statements of Income. For mortgage loans originated for sale for which the fair value option is elected, loan origination fees are recorded by FHN when earned and related direct loan origination costs are recognized when incurred. See Note 25 – Fair Value of Assets and Liabilities for additional information. FHN accounts for all mortgage loans held-for-sale which were originated prior to 2008 and for mortgage loans held-for-sale for which fair value accounting was not elected at the lower of cost or market value (“LOCOM”). | |
Mortgage loans insured by the Federal Housing Administration (“FHA”) and mortgage loans guaranteed by the Veterans Administration (“VA”) were generally securitized through the Government National Mortgage Association (“GNMA”, "Ginnie Mae", or "Ginnie") programs. Generally, conforming conventional loans were securitized through GSEs such as the Federal National Mortgage Association (“FNMA”, "Fannie Mae", or "Fannie") and the Federal Home Loan Mortgage Corporation (“FHLMC”, "Freddie Mac" or "Freddie"). In addition, FHN completed proprietary securitizations of nonconforming first lien and second lien mortgages and HELOC, which do not conform to the requirements for sale or securitization through government agencies. Most of these securitizations are accounted for as sales; the one that does not qualify for sale treatment is accounted for as a consolidated VIE. | |
Loans | Loans. Loans are stated at principal amounts outstanding, net of unearned income. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs as well as premiums and discounts are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs are recognized upon early repayment of the loans or charge-off. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. As required by ASC 310, "Receivables", FHN segregates the loan portfolio into segments and then further disaggregates the portfolio into classes for certain disclosures. Commercial loan portfolio segments include commercial, financial, and industrial (“C&I”) and commercial real estate (“CRE”). Commercial classes within C&I include general C&I, loans to mortgage companies, the trust preferred loans (“TRUPs”) (i.e., loans to bank and insurance-related businesses) portfolio and purchased credit impaired ("PCI") loans. Loans to mortgage companies includes commercial lines of credit to qualified mortgage companies exclusively for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors. Commercial classes within commercial real estate include income CRE, residential CRE and PCI loans. Retail loan portfolio segments include consumer real estate, permanent mortgage, and the credit card and other segment. Retail classes include HELOC, real estate (“R/E”) installment and PCI loans within the consumer real estate segment, permanent mortgage (which is both a segment and a class), and credit card and other. |
Nonaccrual and Past Due Loans | Nonaccrual and Past Due Loans. Generally, loans are placed on nonaccrual status if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance, or on a case-by-case basis if FHN continues to receive payments, but there are atypical loan structures or other borrower-specific issues. |
The accrual status policy for commercial troubled debt restructurings (“TDRs”) follows the same internal policies and procedures as other commercial portfolio loans. | |
Residential real estate secured loans discharged in bankruptcy that have not been reaffirmed by the borrower (“discharged bankruptcies”) are placed on nonaccrual regardless of delinquency status and reported as TDRs. | |
Current second lien residential real estate loans that are junior to first liens that are 90 or more days past due, are a bankruptcy, or a troubled debt restructuring are placed on nonaccrual status. | |
Consumer real estate (HELOC and residential real estate installment loans), if not already on nonaccrual per above situations, are placed on nonaccrual if the loan is 30 or more days delinquent at the time of modification and is also determined to be a TDR. | |
Government guaranteed/insured residential mortgage loans remain on accrual (even if the loan falls into one of the above categories) because the collection of principal and interest is reasonably assured. | |
For commercial and retail loans within each portfolio segment and class that have been placed on nonaccrual status, accrued but uncollected interest is reversed and charged against interest income when the loan is placed on nonaccrual status. Management may elect to continue the accrual of interest when the estimated net realizable value of collateral is sufficient to recover the principal balance and accrued interest. Interest payments received on nonaccrual loans are normally applied to outstanding principal first. Once all principal has been received, additional interest payments are recognized on a cash basis as interest income. | |
Generally, commercial and retail loans within each portfolio segment and class that have been placed on nonaccrual status can be returned to accrual status if all principal and interest is current and FHN expects full repayment of the remaining contractual principal and interest, or the asset becomes well-secured and is in the process of collection. This typically requires that a borrower make payments in accordance with the contractual terms for a sustained period of time (generally for a minimum of six months) before being returned to accrual status. | |
Residential real estate loans discharged through Chapter 7 bankruptcy and not reaffirmed by the borrower are not returned to accrual status. For current second liens that have been placed on nonaccrual because the first lien is 90 or more days past due or is a TDR, the second lien may be returned to accrual upon pay-off or cure of the first lien. | |
Charge-offs | Charge-offs. For all commercial and retail loan portfolio segments, all losses of principal are charged to the allowance for loan losses ("ALLL") in the period in which the loan is deemed to be uncollectible. |
For consumer loans, the timing of a full or partial charge-off generally depends on the loan type and delinquency status. Generally, for the consumer real estate and permanent mortgage portfolio segments, a loan will be either partially or fully charged-off when it becomes 180 days past due. At this time, if the collateral value does not support foreclosure, balances are fully charged-off and other avenues of recovery are pursued. If the collateral value supports foreclosure, the loan is charged-down to net realizable value of the collateral less estimated costs to sell and is placed on nonaccrual status. For residential real estate loans discharged in Chapter 7 bankruptcy and not reaffirmed by the borrower, the fair value of the collateral position is assessed at the time FHN is made aware of the discharge and the loan is charged down to the net realizable value (collateral value less estimated costs to sell). Within the credit card and other portfolio segment, credit cards are normally charged-off upon reaching 180 days past due while other non-real estate consumer loans are charged-off upon reaching 120 days past due. | |
Impaired Loans | Impaired Loans. Impaired loans include nonaccrual commercial loans greater than $1 million and modified consumer and commercial loans that have been classified as a TDR and are individually measured for impairment under the guidance of ASC 310. See Note 4 – Loans for a discussion of methodologies utilized by FHN to measure impairment. |
Purchase Credit Impaired Loans | Purchased Credit Impaired Loans. ASC 310-30 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer”, provides guidance for acquired loans that have experienced deterioration of credit quality between origination and the time of acquisition and for which the timely collection of the interest and principal is no longer reasonably assured (“PCI loans”). PCI loans are initially recorded at fair value which is estimated by discounting expected cash flows at acquisition date. The expected cash flows include all contractually expected amounts (including interest) and incorporate an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools is based upon common risk characteristics that include similar credit risk or risk ratings, and one or more predominant risk characteristics. Each PCI pool is accounted for as a single unit. |
Accretable yield is initially established at acquisition and is the excess of cash flows expected at acquisition over the initial investment in the loan and is recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference is initially established at acquisition and is the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimates expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement result in reversal of any nonaccretable difference (or allowance for loan losses to the extent any has previously been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows result in an increase in the allowance for loan losses through provision expense. | |
FHN does not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that have been pooled and subsequently modified will not be reported as troubled debt restructurings since the pool is the unit of measurement. | |
Allowance for Loan Losses | Allowance for Loan Losses. The ALLL is maintained at a level that management determines is sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL is increased by the provision for loan losses and loan recoveries and is decreased by charged-off loans. The ALLL is determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and is composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous retail and commercial loans. The reserve factors applied to these pools are an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL includes specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management uses analytical models based on loss experience subject to qualitative adjustment to reflect current events, trends, and conditions (including economic considerations and trends) to assess the adequacy of the ALLL as of the end of each reporting period. The nature of the process by which FHN determines the appropriate ALLL requires the exercise of considerable judgment. See Note 5 – Allowance for Loan Losses for a discussion of FHN’s ALLL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. |
Key components of the estimation process are as follows: (1) commercial loans determined by management to be individually impaired loans are evaluated individually and specific reserves are determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired are segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment are calculated based on historical net charge-offs and are subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflects the reserve rate applied against the balance of loans in the commercial segment of the loan portfolio; (5) retail loans are generally segmented based on loan type; (6) reserve amounts for each retail portfolio segment are calculated using analytical models based on delinquency trends and net loss experience and are subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each retail portfolio segment reflects management’s estimate of probable incurred losses in the retail segment of the loan portfolio. | |
Impairment related to individually impaired loans is measured in accordance with ASC 310-10. For all commercial portfolio segments, commercial TDRs and other individually impaired commercial loans are measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the estimated fair value of the collateral less estimated costs to sell (net realizable value). Impaired loans also include consumer TDRs. With the exception of discharged bankruptcies which are collateral dependent and charged down to net realizable value, impairment of consumer TDRs is measured using a DCF model. For loans measured using the DCF method or by observable market prices, if the recorded investment in the impaired loan exceeds this amount, a specific allowance is established as a component of the ALLL; however, for impaired collateral-dependent loans FHN generally charges off the full difference between the book value and the estimated net realizable value. | |
Future adjustments to the ALLL and methodology may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. | |
Premises And Equipment | Premises and Equipment. Premises and equipment are carried at cost less accumulated depreciation and amortization and include additions that materially extend the useful lives of existing premises and equipment. All other maintenance and repair expenditures are expensed as incurred. Gains and losses on dispositions are reflected in noninterest income and expense, respectively. |
Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the assets and are recorded as noninterest expense. Leasehold improvements are amortized over the lesser of the lease periods or the estimated useful lives using the straight-line method. Useful lives utilized in determining depreciation for furniture, fixtures and equipment and buildings are three to fifteen and seven to forty-five years, respectively. | |
Real Estate Acquired By Foreclosure | Real Estate Acquired by Foreclosure. Real estate acquired by foreclosure consists of properties that have been acquired in satisfaction of debt. These properties are carried at the lower of the outstanding loan amount or estimated fair value less estimated costs to sell the real estate. Losses arising at foreclosure are charged to the appropriate valuation allowance. Properties acquired by foreclosure in compliance with HUD servicing guidelines are included in “Real estate acquired by foreclosure” and are carried at the estimated amount of the underlying government insurance or guarantee. On December 31, 2014, FHN had $9.5 million of these foreclosed properties. |
Required developmental costs associated with foreclosed property under construction are capitalized and included in determining the estimated net realizable value of the property, which is reviewed periodically, and any write-downs are charged against current earnings. | |
Intangible Assets | Intangible Assets. Intangible assets consist of “Other intangible assets” and “Goodwill.” Other intangible assets represents intangible assets, including customer lists, acquired contracts, covenants not to compete and premium on purchased deposits, which are amortized over their estimated useful lives, except for those assets related to deposit bases that are primarily amortized over 10 years. Management evaluates whether events or circumstances have occurred that indicate the remaining useful life or carrying value of amortizing intangibles should be revised. Goodwill represents the excess of cost over net assets of acquired subsidiaries less identifiable intangible assets. On an annual basis, FHN assesses goodwill for impairment. |
Derivative Financial Instruments | Derivative Financial Instruments. FHN accounts for derivative financial instruments in accordance with ASC 815 which requires recognition of all derivative instruments on the balance sheet as either an asset or liability measured at fair value through adjustments to either accumulated other comprehensive income within shareholders’ equity or current earnings. Fair value is defined as the price that would be received to sell a derivative asset or paid to transfer a derivative liability in an orderly transaction between market participants on the transaction date. Fair value is determined using available market information and appropriate valuation methodologies. FHN has elected to present its derivative assets and liabilities gross on the Consolidated Statements of Condition. Amounts of collateral posted or received have not been netted with the related derivatives. See Note 23 – Derivatives for discussion on netting of derivatives. |
FHN prepares written hedge documentation, identifying the risk management objective and designating the derivative instrument as a fair value hedge or cash flow hedge as applicable, or as a free-standing derivative instrument entered into as an economic hedge or to meet customers’ needs. All transactions designated as ASC 815 hedges must be assessed at inception and on an ongoing basis as to the effectiveness of the derivative instrument in offsetting changes in fair value or cash flows of the hedged item. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk are recognized currently in earnings. For a cash flow hedge, changes in the fair value of the derivative instrument, to the extent that it is effective, are recorded in accumulated other comprehensive income and subsequently reclassified to earnings as the hedged transaction impacts net income. Any ineffective portion of a cash flow hedge is recognized currently in earnings. For free-standing derivative instruments, changes in fair values are recognized currently in earnings. See Note 23 – Derivatives for additional information. | |
Cash flows from derivative contracts are reported as operating activities on the Consolidated Statements of Cash Flows. | |
Advertising and Public Relations | Advertising and Public Relations. Advertising and public relations costs are generally expensed as incurred. |
Income Taxes | Income Taxes. FHN accounts for income taxes using the asset and liability method pursuant to ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets ("DTAs") and liabilities ("DTLs") for the expected future tax consequences of events that have been included in the financial statements. Under this method, FHN’s deferred tax assets and liabilities are determined based on differences between financial statement carrying amounts and the corresponding tax basis of certain assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. |
Additionally, DTAs are subject to a “more likely than not” test to determine whether the full amount of the DTAs should be realized in the financial statements. FHN evaluates the likelihood of realization of the DTA based on both positive and negative evidence available at the time, including (as appropriate) scheduled reversals of DTLs, projected future taxable income, tax planning strategies, and recent financial performance. If the “more likely than not” test is not met, a valuation allowance must be established against the DTA. In the event FHN determines that DTAs are realizable in the future in excess of their net recorded amount, FHN would make an adjustment to the valuation allowance, which would reduce the provision for income taxes. | |
FHN's ASC 740 policy is to recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. Accrued interest and penalties are included within the related tax asset/liability line in the consolidated balance sheet. | |
FHN and its eligible subsidiaries are included in a consolidated federal income tax return. FHN files separate returns for subsidiaries that are not eligible to be included in a consolidated federal income tax return. Based on the laws of the applicable state where it conducts business operations, FHN either files consolidated, combined, or separate returns. With few exceptions, FHN is no longer subject to U.S. federal or state and local tax examinations by tax authorities for years before 2009. The Internal Revenue Service (“IRS”) recently completed a limited issue focused examination ("LIFE") for the years ending December 31, 2011 and 2010. All proposed adjustments with respect to examinations of federal returns filed for 2011 and prior years have been settled. FHN is currently under audit in several states. | |
Earnings per Share | Earnings per Share. Earnings per share is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding for each period. Diluted earnings per share in net income periods is computed by dividing net income available to common shareholders by the weighted average number of common shares adjusted to include the number of additional common shares that would have been outstanding if the potential dilutive common shares resulting from restricted shares or units and options granted under FHN’s equity compensation plans and deferred compensation arrangements had been issued. FHN utilizes the treasury stock method in this calculation. Diluted earnings per share does not reflect an adjustment for potentially dilutive shares in periods in which a net loss available to common shareholders exists. |
Equity Compensation | Equity Compensation. FHN accounts for its employee stock-based compensation plans using the grant date fair value of an award to determine the expense to be recognized over the life of the award. For awards with service vesting criteria, expense is recognized using the straight-line method over the requisite service period (generally the vesting period) and is adjusted for anticipated forfeitures. For awards vesting based on a performance measure, anticipated performance is projected to determine the number of awards expected to vest, and the corresponding aggregate expense is adjusted to reflect the elapsed portion of the performance period. The fair value of equity awards with cash payout requirements, as well as awards for which fair value cannot be estimated at grant date, is remeasured each reporting period through vesting date. Performance awards with pre-grant date achievement criteria are expensed over the period from the start of the performance period through the end of the service vesting term. Awards are amortized using the nonsubstantive vesting methodology which requires that expense associated with awards having only service vesting criteria that continue vesting after retirement be recognized over a period ending no later than an employee’s retirement eligibility date. |
Repurchase and Foreclosure Provision | Repurchase and Foreclosure Provision. The repurchase and foreclosure provision is the charge to earnings necessary to maintain the liability at a level that reflects management’s best estimate of losses associated with the repurchase of loans previously transferred in whole loans sales or securitizations, or make whole requests as of the balance sheet date. See Note 18 – Contingencies and Other Disclosures for discussion related to FHN’s obligations to repurchase such loans. |
Legal Costs | Legal Costs. Generally, legal costs are expensed as incurred. |
Contingency Accruals | Contingency Accruals. Contingent liabilities arise in the ordinary course of business, including those related to lawsuits, arbitration, mediation, and other forms of litigation. FHN establishes loss contingency liabilities for matters when loss is both probable and reasonably estimable as prescribed by applicable financial accounting guidance. A liability generally is not established when a loss contingency either is not probable or its amount is not reasonably estimable. If loss for a matter is probable and a range of possible loss outcomes is the best estimate available, accounting guidance generally requires a liability to be established at the low end of the range. Expected recoveries from insurance and indemnification arrangements are recognized if they are considered equally as probable and reasonably estimable as the related loss contingency up to the recognized amount of the estimated loss. Gain contingencies and expected recoveries from insurance and indemnification arrangements in excess of the associated recorded estimated losses are recognized when received. Recognized recoveries are recorded as offsets to the related expense in the Consolidated Statements of Income. The favorable resolution of a gain contingency generally results in the recognition of other income in the Consolidated Statements of Income. |
Summary of Accounting Changes | Summary of Accounting Changes. Effective January 2014, FHN adopted provisions of FASB ASU 2013-11“Income Taxes: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Generally, ASU 2013-11 requires that an unrecognized tax benefit should reduce a deferred tax asset (“DTA”) that has been established for a net operating loss (“NOL”), a tax credit carryforward, or other similar tax losses. However, if a filer does not have such carryforwards or similar tax losses at the reporting date, the uncertain tax position should be recorded as a liability. If a filer does have a DTA, but is not required by tax law of the applicable jurisdiction to use the DTA to settle additional taxes from the disallowance of a tax position and that is the filer's intent, the uncertain tax position should be recognized as a liability in that situation as well and not netted with the DTA. The assessment of whether a DTA is available is based on the unrecognized tax benefit and DTA that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The adoption of provisions of ASU 2013-11, did not have a material effect on FHN’s statement of condition, results of operations, or cash flows. |
Effective January 1, 2013, FHN adopted the provisions of FASB Accounting Standards Update ("ASU") 2011-11, “Balance Sheet: Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 creates new disclosure requirements about the nature of an entity’s rights of setoff and related arrangements associated with its financial instruments and derivative instruments. ASU 2011-11 requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the balance sheet as well as instruments and transactions subject to an agreement similar to a master netting arrangement. The scope of ASU 2011-11 includes derivatives, sale and repurchase agreements/reverse sale and repurchase agreements, and securities borrowing and securities lending arrangements. The provisions of ASU 2011-11 are effective for periods beginning on or after January 1, 2013, with retrospective application to all periods presented in the financial statements required. Additionally in January 2013, FASB issued ASU 2013-01, "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities", that narrowed the scope of ASU 2011-11. Based on this amendment, ASU 2011-11 applies to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. Upon adoption of ASU 2011-11, FHN revised its disclosures accordingly. The adoption of the provisions of ASU 2011-11 had no effect on FHN's statement of condition, results of operations, or cash flows. | |
Effective January 1, 2013, FHN adopted the provisions of FASB ASU 2013-02, "Comprehensive Income: Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income." ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in financial statements but modifies interim disclosure requirements such that changes in accumulated other comprehensive income must be disclosed in interim filings. The provisions of ASU 2013-02 are effective for periods beginning after December 15, 2012, with prospective application to transactions or modifications of existing transactions that occur on or after the effective date. Upon adoption of the provisions of ASU 2013-02 on January 1, 2013, FHN revised its financial statements and disclosures accordingly. | |
In July 2013, the FASB issued ASU 2013-10, "Derivatives and Hedging: Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes." ASU 2013-10 provides guidance on the risks that are permitted to be hedged in a fair value or cash flow hedge. The provisions of ASU 2013-10 permit the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes under ASC 815, in addition to U.S. Treasury rates and the London Interbank Offered Rate ("LIBOR"). The amendments also remove the restriction on using different benchmark rates for similar hedges. The provisions of ASU 2013-10 are effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013. FHN may apply the provisions of ASU 2013-10 to future hedging relationships. | |
Effective January 1, 2012, FHN adopted the provisions of FASB ASU 2011-05, “Presentation of Comprehensive Income”. ASU 2011-05 requires that net income and other comprehensive income be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. ASU 2011-05 also provides that regardless of the method used to present comprehensive income, presentation is required on the face of the financial statements of reclassification adjustments for items that are reclassified from other comprehensive income to net income. ASU 2011-05 does not change the current option for entities to present components of other comprehensive income gross or net of the effect of income taxes, provided that such tax effects are presented in the statement in which other comprehensive income is presented or disclosed in the notes to the financial statements. The provisions of ASU 2011-05 are effective for periods beginning after December 15, 2011, with retrospective application to all periods presented in the financial statements required. No transition disclosures are required upon adoption. For interim reporting periods, filers are only required to present total comprehensive income in a single continuous statement or in two consecutive statements. On December 23, 2011, the FASB issued ASU 2011-12, which indefinitely deferred the provisions of ASU 2011-05 that require entities to present reclassification adjustments out of accumulated other comprehensive income by component in both the statement in which net income is presented and the statement in which other comprehensive income is presented (for both interim and annual financial statements). This deferral was superseded by ASU 2013-12. Upon adoption of the provisions of ASU 2011-05 and ASU 2011-12 on January 1, 2012, FHN revised its financial statements and disclosures accordingly. | |
Accounting Changes Issued but Not Currently Effective | Accounting Changes Issued but Not Currently Effective. In January 2014, the FASB issued ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” ASU 2014-01 permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using a proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense/(benefit). A reporting entity should evaluate whether the conditions have been met to apply the proportional amortization method to an investment in a qualified affordable housing project through a limited liability entity at the time of initial investment on the basis of facts and circumstances that exist at that time. A reporting entity should reevaluate the conditions upon the occurrence of certain specified events. An investment in a qualified affordable housing project through a limited liability entity should be tested for impairment when there are events or changes in circumstances indicating that it is more likely than not that the carrying amount of the investment will not be realized. For those investments in qualified affordable housing projects not accounted for using the proportional amortization method, the investment should be accounted for as an equity method investment or a cost method investment. The decision to apply the proportional amortization method of accounting is an accounting policy decision that should be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments. The provisions of ASU 2014-01 are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014, and will be applied retrospectively to all periods presented. FHN continues to evaluate the effects of ASU 2014-01 on its portfolio of low income housing investments. |
In January 2014, the FASB issued ASU 2014-04, “Receivables—Troubled Debt Restructurings by Creditors: Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” ASU 2014-04 clarifies that an in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU 2014-04 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt ASU 2014-04 using either a modified retrospective transition method or a prospective transition method. Under the modified retrospective transition method, an entity should apply ASU 2014-04 by means of a cumulative-effect adjustment to residential consumer mortgage loans and foreclosed residential real estate properties existing as of the beginning of the annual period for which the amendments are effective. FHN will adopt the requirements of ASU 2014-04 prospectively and does not expect it to have a material effect on FHN’s statements of condition, results of operation or cash flows. | |
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 does not change revenue recognition for financial instruments. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This is accomplished through a five-step recognition framework involving 1) the identification of contracts with customers, 2) identification of performance obligations, 3) determination of the transaction price, 4) allocation of the transaction price to the performance obligations and 5) recognition of revenue as performance obligations are satisfied. Additionally, qualitative and quantitative information is required for disclosure regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. Transition to the new requirements may be made by retroactively revising prior financial statements (with certain practical expedients permitted) or by a cumulative effect through retained earnings. If the latter option is selected, additional disclosures are required for comparability. FHN is evaluating the effects of ASU 2014-09 on its revenue recognition practices. | |
In June 2014, the FASB issued ASU 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” ASU 2014-11 makes two changes to accounting for repurchase agreements. First, it requires secured borrowing accounting for repurchase-to-maturity transactions. Second, it requires separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. ASU 2014-11 also requires additional disclosures for repurchase transactions that are recognized as secured borrowings, including disaggregation by class of collateral, the remaining contractual tenor of the arrangements and the risks inherent in the agreements. Adoption of ASU 2014-11 will only affect FHN’s disclosures as it does not engage in repurchase-to- maturity or repurchase financing transactions. These disclosure revisions are effective for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. | |
In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition in determining expense recognition for the award. Thus, compensation cost is recognized over the requisite service period based on the probability of achievement of the performance condition. Expense is adjusted after the requisite service period for changes in the probability of achievement. ASU 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of ASU 2014-12 will have no effect on FHN. | |
In August 2014, the FASB issued ASU 2014-14, “Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.” ASU 2014-14 requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if 1) the loan has a government guarantee that it not separable from the loan before foreclosure, 2) at the time of foreclosure the creditor has the intent to convey the real estate to the guarantor and make a recoverable claim on the guarantee and 3) at the time of foreclosure any amount of the claim that is based on the fair value of the real estate is fixed. For qualifying foreclosures, the amount of the receivable recognized should be measured based on the amount of the loan balance expected to be recovered from the guarantor. ASU 2014-14 is effective for annual and interim periods beginning after December 15, 2014 and may be adopted through either a prospective only approach or through a reclassification from other real estate owned to other receivable on the effective date. FHN currently classifies foreclosed properties with government guarantees within other real estate owned and plans to adopt ASU 2014-14 prospectively. | |
In August 2014, the FASB issued ASU 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” ASU 2014-15 requires an entity’s management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. If such events or conditions exist, additional disclosures are required and management should evaluate whether its plans sufficiently alleviate the substantial doubt. ASU 2014-15 is effective for the annual period ending after December 15, 2015 and all interim and annual periods thereafter. The provisions of ASU 2014-15 are not anticipated to affect FHN. |
Acquisition_and_Divestitures_T
Acquisition and Divestitures (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Acquisitions and Divestitures [Abstract] | |||||||||||
Schedule of significant assets acquired and liabilities assumed and provisional estimated purchase accounting/fair value adjustments | The following schedule details significant assets acquired and liabilities assumed from the FDIC for MNB and estimated purchase accounting/fair value adjustments at June 7, 2013: | ||||||||||
Mountain National Bank | |||||||||||
Purchase Accounting/ | |||||||||||
Acquired from | Fair Value | As recorded | |||||||||
(Dollars in thousands) | FDIC | Adjustments | by FHN | ||||||||
Assets: | |||||||||||
Cash and cash equivalents | $ | 54,872 | $ | - | $ | 54,872 | |||||
Interest-bearing cash | 26,984 | - | 26,984 | ||||||||
Securities available-for-sale | 73,948 | -440 | 73,508 | ||||||||
Loans, net of unearned income | 249,001 | -33,094 | 215,907 | ||||||||
Core deposit intangible | - | 3,200 | 3,200 | ||||||||
Premises and equipment | 10,359 | 3,755 | 14,114 | ||||||||
Real estate acquired by foreclosure | 33,294 | -10,930 | 22,364 | ||||||||
Deferred tax asset | -286 | 3,097 | 2,811 | ||||||||
Other assets | 3,375 | -461 | 2,914 | ||||||||
Total assets acquired | $ | 451,547 | $ | -34,873 | $ | 416,674 | |||||
Liabilities: | |||||||||||
Deposits | $ | 362,098 | $ | 2,000 | $ | 364,098 | |||||
Securities sold under agreements to repurchase | 1,930 | - | 1,930 | ||||||||
Federal Home Loan Bank advances | 50,040 | 5,586 | 55,626 | ||||||||
Other liabilities | 2,547 | - | 2,547 | ||||||||
Total liabilities assumed | 416,615 | 7,586 | 424,201 | ||||||||
Acquired noncontrolling interest | 117 | 57 | 174 | ||||||||
Total liabilities assumed and acquired noncontrolling interest | $ | 416,732 | $ | 7,643 | $ | 424,375 | |||||
Excess of assets acquired over liabilities assumed | $ | 34,815 | |||||||||
Aggregate purchase accounting/fair value adjustments | $ | -42,516 | |||||||||
Goodwill | $ | 7,701 |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Investment Securities [Abstract] | |||||||||||||||||||
Schedule Of FHN's Investment Securities | The following tables summarize FHN’s investment securities on December 31, 2014 and 2013: | ||||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
Securities available-for-sale ("AFS"): | |||||||||||||||||||
U.S. treasuries | $ | 100 | $ | - | $ | - | $ | 100 | |||||||||||
Government agency issued mortgage-backed securities ("MBS") | 716,618 | 35,287 | -740 | 751,165 | |||||||||||||||
Government agency issued collateralized mortgage obligations ("CMO") | 2,615,620 | 22,026 | -26,380 | 2,611,266 | |||||||||||||||
Other U.S. government agencies | 1,755 | 52 | - | 1,807 | |||||||||||||||
States and municipalities | 10,205 | - | - | 10,205 | |||||||||||||||
Equity and other (a) | 182,184 | - | -114 | 182,070 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,526,482 | $ | 57,365 | $ | -27,234 | $ | 3,556,613 | |||||||||||
Securities held-to-maturity ("HTM"): | |||||||||||||||||||
States and municipalities | $ | 4,292 | $ | 1,112 | $ | - | $ | 5,404 | |||||||||||
Total securities held-to-maturity | $ | 4,292 | $ | 1,112 | $ | - | $ | 5,404 | |||||||||||
Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. The remainder is money market and cost method investments. | |||||||||||||||||||
Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
Securities available-for-sale: | |||||||||||||||||||
U.S. treasuries | $ | 39,997 | $ | - | $ | -1 | $ | 39,996 | |||||||||||
Government agency issued MBS | 796,835 | 32,353 | -5,499 | 823,689 | |||||||||||||||
Government agency issued CMO | 2,335,718 | 12,399 | -57,180 | 2,290,937 | |||||||||||||||
Other U.S. government agencies | 2,202 | 124 | - | 2,326 | |||||||||||||||
States and municipalities | 15,155 | - | - | 15,155 | |||||||||||||||
Equity and other (a) | 226,376 | - | -22 | 226,354 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,416,283 | $ | 44,876 | $ | -62,702 | $ | 3,398,457 | |||||||||||
Includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0 million. The remainder is money market, venture capital, and cost method investments. | |||||||||||||||||||
Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||||||||||||||||
Schedule Of Amortized Cost And Fair Value By Contractual Maturity | |||||||||||||||||||
The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity securities portfolios on December 31, 2014, are provided below: | |||||||||||||||||||
Held-to-Maturity | Available-for-Sale | ||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Value | Cost | Value | |||||||||||||||
Within 1 year | $ | - | $ | - | $ | 1,755 | $ | 1,807 | |||||||||||
After 1 year; within 5 years | - | - | 1,600 | 1,600 | |||||||||||||||
After 5 years; within 10 years | - | - | - | - | |||||||||||||||
After 10 years | 4,292 | 5,404 | 8,705 | 8,705 | |||||||||||||||
Subtotal | 4,292 | 5,404 | 12,060 | 12,112 | |||||||||||||||
Government agency issued MBS and CMO | - | - | 3,332,238 | 3,362,431 | |||||||||||||||
Equity and other | - | - | 182,184 | 182,070 | |||||||||||||||
Total | $ | 4,292 | $ | 5,404 | $ | 3,526,482 | $ | 3,556,613 | |||||||||||
Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||
Schedule Of Gross Gains And Losses On Sale From Available For Sale Portfolio | The table below provides information on gross gains and gross losses from investment securities for the twelve months ended December 31: | ||||||||||||||||||
Available-for-Sale | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Gross gains on sales of securities | $ | 5,867 | $ | 4,078 | $ | 5,433 | |||||||||||||
Gross (losses) on sales of securities | - | -1,193 | - | ||||||||||||||||
Net gain/(loss) on sales of securities (a) | $ | 5,867 | $ | 2,885 | $ | 5,433 | |||||||||||||
Venture capital investments (b) | -2,995 | - | -4,700 | ||||||||||||||||
Net OTTI recorded (c) | - | -1,125 | -40 | ||||||||||||||||
Total securities gain/(loss), net | $ | 2,872 | $ | 1,760 | $ | 693 | |||||||||||||
Proceeds from sales during 2014 were $9.2 million, inclusive of $1.4 million of equity securities. Proceeds from sales during 2013 and 2012 were $63.8 million and $47.5 million, respectively. | |||||||||||||||||||
Includes losses on sales, write-offs and /or unrealized fair value adjustments related to venture capital investments. | |||||||||||||||||||
OTTI recorded in 2013 and 2012 is related to equity securities. | |||||||||||||||||||
Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses | |||||||||||||||||||
The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of December 31, 2014 and 2013: | |||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(Dollars in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
Government agency issued CMO | $ | 179,661 | $ | -869 | $ | 964,267 | $ | -25,511 | $ | 1,143,928 | $ | -26,380 | |||||||
Government agency issued MBS | 32,141 | -8 | 35,849 | -732 | 67,990 | -740 | |||||||||||||
Total debt securities | 211,802 | -877 | 1,000,116 | -26,243 | 1,211,918 | -27,120 | |||||||||||||
Equity | 967 | -80 | 9 | -34 | 976 | -114 | |||||||||||||
Total temporarily impaired securities | $ | 212,769 | $ | -957 | $ | 1,000,125 | $ | -26,277 | $ | 1,212,894 | $ | -27,234 | |||||||
As of December 31, 2013 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(Dollars in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||
Government agency issued CMO | $ | 1,639,254 | $ | -57,117 | $ | 10,010 | $ | -63 | $ | 1,649,264 | $ | -57,180 | |||||||
Government agency issued MBS | 147,792 | -5,499 | - | - | 147,792 | -5,499 | |||||||||||||
U.S. treasuries | 24,997 | -1 | - | - | 24,997 | -1 | |||||||||||||
Total debt securities | 1,812,043 | -62,617 | 10,010 | -63 | 1,822,053 | -62,680 | |||||||||||||
Equity | 43 | -22 | - | - | 43 | -22 | |||||||||||||
Total temporarily impaired securities | $ | 1,812,086 | $ | -62,639 | $ | 10,010 | $ | -63 | $ | 1,822,096 | $ | -62,702 | |||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||
Schedule Of Loans By Portfolio Segment | The following table provides the balance of loans by portfolio segment as of December 31, 2014 and 2013: | ||||||||||||||||||||||||||||
31-Dec | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial, financial, and industrial | $ | 9,007,286 | $ | 7,923,576 | |||||||||||||||||||||||||
Commercial real estate | 1,277,717 | 1,133,279 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Consumer real estate (a) | 5,048,071 | 5,333,371 | |||||||||||||||||||||||||||
Permanent mortgage (b) | 538,961 | 662,242 | |||||||||||||||||||||||||||
Credit card & other | 358,131 | 336,606 | |||||||||||||||||||||||||||
Loans, net of unearned income | $ | 16,230,166 | $ | 15,389,074 | |||||||||||||||||||||||||
Allowance for loan losses | 232,448 | 253,809 | |||||||||||||||||||||||||||
Total net loans | $ | 15,997,718 | $ | 15,135,265 | |||||||||||||||||||||||||
Balances as of December 31, 2014 and 2013, include $76.8 million and $333.8 million of restricted and secured real estate loans, respectively. See Note 22 - Variable Interest Entities for additional information. | |||||||||||||||||||||||||||||
Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. | |||||||||||||||||||||||||||||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Rollforward [Table Text Block] | The following table presents a rollforward of the accretable yield for the years ended December 31, 2014 and 2013: | ||||||||||||||||||||||||||||
Years Ended | |||||||||||||||||||||||||||||
31-Dec | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||||||||
Balance, beginning of period | $ | 13,490 | $ | - | |||||||||||||||||||||||||
Additions | 495 | 6,650 | |||||||||||||||||||||||||||
Accretion | -7,090 | -2,234 | |||||||||||||||||||||||||||
Adjustment for payoffs | -1,575 | -104 | |||||||||||||||||||||||||||
Adjustment for charge-offs | -79 | -4 | |||||||||||||||||||||||||||
Increase in accretable yield (a) | 9,473 | 9,182 | |||||||||||||||||||||||||||
Balance, end of period | $ | 14,714 | $ | 13,490 | |||||||||||||||||||||||||
Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows. | |||||||||||||||||||||||||||||
Schedule Of Acquired Purchase Credit Impaired Loans By Portfolio Segment [Table Text Block] | At December 31, 2014, the ALLL related to PCI loans was $3.2 million compared to $.8 million in 2013. Net charge-offs recognized during 2014 were $.1 million, compared to $.4 million in 2013. The loan loss provision incurred during 2014 and 2013 was $3.3 million and $1.2 million, respectively. The following table reflects the outstanding principal balance and carrying amounts of the PCI loans as of December 31, 2014 and 2013: | ||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying value | Unpaid balance | Carrying value | Unpaid balance | |||||||||||||||||||||||||
Commercial, financial and industrial | $ | 5,044 | $ | 5,813 | $ | 7,077 | $ | 9,169 | |||||||||||||||||||||
Commercial real estate | 32,553 | 43,246 | 38,042 | 53,648 | |||||||||||||||||||||||||
Consumer real estate | 598 | 868 | 878 | 1,291 | |||||||||||||||||||||||||
Credit card and other | 10 | 14 | 12 | 21 | |||||||||||||||||||||||||
Total | $ | 38,205 | $ | 49,941 | $ | 46,009 | $ | 64,129 | |||||||||||||||||||||
Information By Class Related To Individually Impaired Loans | Impaired Loans | ||||||||||||||||||||||||||||
The following tables provide information at December 31, 2014 and 2013, by class related to individually impaired loans and consumer TDR's. Recorded investment is defined as the amount of the investment in a loan, before valuation allowance but which does reflect any direct write-down of the investment. For purposes of this disclosure, PCI loans and LOCOM have been excluded. | |||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||
Impaired loans with no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 9,558 | $ | 10,851 | $ | - | $ | 15,826 | $ | - | |||||||||||||||||||
TRUPS | - | - | - | 813 | - | ||||||||||||||||||||||||
Income CRE | 8,528 | 16,242 | - | 7,671 | - | ||||||||||||||||||||||||
Residential CRE | 1,148 | 1,827 | - | 718 | - | ||||||||||||||||||||||||
Total | $ | 19,234 | $ | 28,920 | $ | - | $ | 25,028 | $ | - | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 13,379 | $ | 32,471 | $ | - | $ | 15,670 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 4,819 | 6,247 | - | 7,855 | - | ||||||||||||||||||||||||
Permanent mortgage (a) | 7,258 | 9,374 | - | 7,798 | - | ||||||||||||||||||||||||
Total | $ | 25,456 | $ | 48,092 | $ | - | $ | 31,323 | $ | - | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 13,295 | $ | 17,644 | $ | 863 | $ | 23,382 | $ | 310 | |||||||||||||||||||
TRUPS | 13,460 | 13,700 | 4,310 | 13,524 | - | ||||||||||||||||||||||||
Income CRE | 8,384 | 9,756 | 650 | 9,944 | 286 | ||||||||||||||||||||||||
Residential CRE | 1,370 | 5,331 | 146 | 5,553 | 190 | ||||||||||||||||||||||||
Total | $ | 36,509 | $ | 46,431 | $ | 5,969 | $ | 52,403 | $ | 786 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 84,169 | $ | 86,252 | $ | 18,942 | $ | 77,306 | $ | 1,799 | |||||||||||||||||||
R/E installment loans | 70,858 | 72,094 | 21,836 | 73,374 | 1,198 | ||||||||||||||||||||||||
Permanent mortgage | 106,201 | 119,421 | 16,627 | 111,528 | 2,823 | ||||||||||||||||||||||||
Credit card & other | 533 | 533 | 254 | 596 | 26 | ||||||||||||||||||||||||
Total | $ | 261,761 | $ | 278,300 | $ | 57,659 | $ | 262,804 | $ | 5,846 | |||||||||||||||||||
Total commercial | $ | 55,743 | $ | 75,351 | $ | 5,969 | $ | 77,431 | $ | 786 | |||||||||||||||||||
Total retail | $ | 287,217 | $ | 326,392 | $ | 57,659 | $ | 294,127 | $ | 5,846 | |||||||||||||||||||
Total impaired loans | $ | 342,960 | $ | 401,743 | $ | 63,628 | $ | 371,558 | $ | 6,632 | |||||||||||||||||||
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. | |||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||
Impaired loans with no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 26,626 | $ | 28,089 | $ | - | $ | 46,486 | $ | 108 | |||||||||||||||||||
TRUPS | 6,500 | 6,500 | - | 9,563 | - | ||||||||||||||||||||||||
Income CRE | 8,524 | 16,552 | - | 21,304 | 168 | ||||||||||||||||||||||||
Residential CRE | - | - | - | 8,145 | 122 | ||||||||||||||||||||||||
Total | $ | 41,650 | $ | 51,141 | $ | - | $ | 85,498 | $ | 398 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 16,825 | $ | 38,624 | $ | - | $ | 19,418 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 11,009 | 14,062 | - | 11,955 | - | ||||||||||||||||||||||||
Permanent mortgage (a) | 8,460 | 11,943 | - | 8,835 | - | ||||||||||||||||||||||||
Total | $ | 36,294 | $ | 64,629 | $ | - | $ | 40,208 | $ | - | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 16,741 | $ | 23,016 | $ | 1,548 | $ | 18,291 | $ | 185 | |||||||||||||||||||
TRUPS | 33,610 | 33,610 | 12,747 | 37,791 | - | ||||||||||||||||||||||||
Income CRE | 12,374 | 14,094 | 810 | 5,725 | 201 | ||||||||||||||||||||||||
Residential CRE | 6,914 | 12,249 | 790 | 3,148 | 153 | ||||||||||||||||||||||||
Total | $ | 69,639 | $ | 82,969 | $ | 15,895 | $ | 64,955 | $ | 539 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 70,297 | $ | 71,692 | $ | 16,506 | $ | 66,154 | $ | 1,821 | |||||||||||||||||||
R/E installment loans | 72,291 | 73,230 | 27,667 | 72,408 | 1,340 | ||||||||||||||||||||||||
Permanent mortgage | 112,998 | 125,666 | 17,042 | 112,356 | 2,990 | ||||||||||||||||||||||||
Credit card & other | 545 | 545 | 224 | 698 | 29 | ||||||||||||||||||||||||
Total | $ | 256,131 | $ | 271,133 | $ | 61,439 | $ | 251,616 | $ | 6,180 | |||||||||||||||||||
Total commercial | $ | 111,289 | $ | 134,110 | $ | 15,895 | $ | 150,453 | $ | 937 | |||||||||||||||||||
Total retail | $ | 292,425 | $ | 335,762 | $ | 61,439 | $ | 291,824 | $ | 6,180 | |||||||||||||||||||
Total impaired loans | $ | 403,714 | $ | 469,872 | $ | 77,334 | $ | 442,277 | $ | 7,117 | |||||||||||||||||||
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. | |||||||||||||||||||||||||||||
Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade | The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of December 31, 2014 and 2013. | ||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
Loans to | Allowance | ||||||||||||||||||||||||||||
General | Mortgage | Income | Residential | Percentage | for Loan | ||||||||||||||||||||||||
(Dollars in thousands) | C&I | Companies | TRUPS (a) | CRE | CRE | Total | of Total | Losses | |||||||||||||||||||||
PD Grade: | |||||||||||||||||||||||||||||
1 | $ | 450,465 | $ | - | $ | - | $ | 136 | $ | 60 | $ | 450,661 | 4 | % | $ | 70 | |||||||||||||
2 | 434,945 | - | - | 1,344 | 236 | 436,525 | 4 | 130 | |||||||||||||||||||||
3 | 566,364 | 134,230 | - | 73,812 | 230 | 774,636 | 8 | 201 | |||||||||||||||||||||
4 | 589,341 | 202,287 | - | 45,084 | 232 | 836,944 | 8 | 408 | |||||||||||||||||||||
5 | 821,012 | 247,058 | - | 216,628 | 3,835 | 1,288,533 | 13 | 2,372 | |||||||||||||||||||||
6 | 1,162,551 | 314,671 | - | 175,007 | 5,218 | 1,657,447 | 16 | 5,286 | |||||||||||||||||||||
7 | 1,325,968 | 157,410 | - | 224,226 | 6,669 | 1,714,273 | 17 | 8,517 | |||||||||||||||||||||
8 | 699,334 | 42,730 | - | 200,463 | 7,664 | 950,191 | 9 | 9,307 | |||||||||||||||||||||
9 | 531,979 | 58,997 | - | 117,782 | 834 | 709,592 | 7 | 8,901 | |||||||||||||||||||||
10 | 244,574 | 5,635 | - | 38,253 | 739 | 289,201 | 3 | 4,806 | |||||||||||||||||||||
11 | 287,940 | - | - | 31,712 | 938 | 320,590 | 3 | 6,887 | |||||||||||||||||||||
12 | 117,431 | - | - | 29,453 | 1,038 | 147,922 | 1 | 4,622 | |||||||||||||||||||||
13 | 87,840 | - | 325,882 | 6,116 | 1,166 | 421,004 | 4 | 3,590 | |||||||||||||||||||||
14,15,16 | 157,868 | - | - | 29,579 | 4,204 | 191,651 | 2 | 21,411 | |||||||||||||||||||||
Collectively evaluated for impairment | 7,477,612 | 1,163,018 | 325,882 | 1,189,595 | 33,063 | 10,189,170 | 99 | 76,508 | |||||||||||||||||||||
Individually evaluated for impairment | 22,853 | - | 12,845 | 16,912 | 2,518 | 55,128 | 1 | 5,969 | |||||||||||||||||||||
Purchased credit-impaired loans | 5,076 | - | - | 33,914 | 1,715 | 40,705 | - | 3,108 | |||||||||||||||||||||
Total commercial loans | $ | 7,505,541 | $ | 1,163,018 | $ | 338,727 | $ | 1,240,421 | $ | 37,296 | $ | 10,285,003 | 100 | % | $ | 85,585 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Loans to | Allowance | ||||||||||||||||||||||||||||
General | Mortgage | Income | Residential | Percent of | for Loan | ||||||||||||||||||||||||
(Dollars in thousands) | C&I | Companies | TRUPS (a) | CRE | CRE | Total | Total | Losses | |||||||||||||||||||||
PD Grade: | |||||||||||||||||||||||||||||
1 | $ | 239,141 | $ | - | $ | - | $ | - | $ | - | $ | 239,141 | 3 | % | $ | 85 | |||||||||||||
2 | 216,173 | - | - | 3,363 | - | 219,536 | 2 | 80 | |||||||||||||||||||||
3 | 224,224 | - | - | 739 | 83 | 225,046 | 2 | 206 | |||||||||||||||||||||
4 | 321,423 | - | - | 13,005 | 213 | 334,641 | 4 | 410 | |||||||||||||||||||||
5 | 821,158 | - | - | 42,420 | 225 | 863,803 | 10 | 1,331 | |||||||||||||||||||||
6 | 876,982 | 96,287 | - | 229,098 | 9,989 | 1,212,356 | 13 | 1,643 | |||||||||||||||||||||
7 | 1,135,378 | 172,236 | - | 216,744 | 6,527 | 1,530,885 | 17 | 2,578 | |||||||||||||||||||||
8 | 953,398 | 295,436 | - | 218,619 | 136 | 1,467,589 | 16 | 4,426 | |||||||||||||||||||||
9 | 683,223 | 167,533 | - | 111,260 | 953 | 962,969 | 11 | 8,381 | |||||||||||||||||||||
10 | 402,532 | 48,802 | - | 64,893 | 1,850 | 518,077 | 6 | 7,276 | |||||||||||||||||||||
11 | 387,907 | 10,169 | - | 29,774 | 1,637 | 429,487 | 5 | 9,687 | |||||||||||||||||||||
12 | 129,741 | - | - | 32,796 | 4,333 | 166,870 | 2 | 2,488 | |||||||||||||||||||||
13 | 163,458 | - | 331,940 | 16,666 | 2,886 | 514,950 | 6 | 9,047 | |||||||||||||||||||||
14,15,16 | 154,860 | 146 | 4,103 | 52,879 | 5,551 | 217,539 | 2 | 32,712 | |||||||||||||||||||||
Collectively evaluated for impairment | 6,709,598 | 790,609 | 336,043 | 1,032,256 | 34,383 | 8,902,889 | 99 | 80,350 | |||||||||||||||||||||
Individually evaluated for impairment | 43,367 | - | 36,864 | 20,898 | 6,914 | 108,043 | 1 | 15,895 | |||||||||||||||||||||
Total commercial loans (b) | $ | 6,752,965 | $ | 790,609 | $ | 372,907 | $ | 1,053,154 | $ | 41,297 | $ | 9,010,932 | 100 | % | $ | 96,245 | |||||||||||||
Balances as of December 31, 2014 and 2013, presented net of $26.2 million and $29.4 million, respectively, in lower of cost or market (“LOCOM”) valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade is "13". | |||||||||||||||||||||||||||||
December 31, 2013 table excludes PCI loans amounting to $45.9 million ($.8 million of allowance). | |||||||||||||||||||||||||||||
Period-End Balances And Various Asset Quality Attributes By Origination Vintage For The HELOC | The following tables reflect period end balances and average FICO scores by origination vintage for the HELOC, real estate installment, and permanent mortgage classes of loans as of December 31, 2014 and 2013: | ||||||||||||||||||||||||||||
HELOC | |||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||||||
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed | |||||||||||||||||||||||
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO | |||||||||||||||||||||||
pre-2003 | $ | 56,335 | 708 | 701 | $ | 79,550 | 711 | 701 | |||||||||||||||||||||
2003 | 102,073 | 721 | 710 | 141,215 | 725 | 711 | |||||||||||||||||||||||
2004 | 282,580 | 723 | 709 | 395,323 | 727 | 716 | |||||||||||||||||||||||
2005 | 451,757 | 731 | 722 | 531,839 | 732 | 720 | |||||||||||||||||||||||
2006 | 337,440 | 740 | 727 | 383,366 | 740 | 726 | |||||||||||||||||||||||
2007 | 357,290 | 744 | 729 | 406,299 | 744 | 728 | |||||||||||||||||||||||
2008 | 194,710 | 753 | 747 | 223,110 | 753 | 747 | |||||||||||||||||||||||
2009 | 101,594 | 751 | 743 | 115,863 | 750 | 744 | |||||||||||||||||||||||
2010 | 98,214 | 753 | 749 | 114,393 | 753 | 749 | |||||||||||||||||||||||
2011 | 96,982 | 759 | 753 | 112,595 | 758 | 753 | |||||||||||||||||||||||
2012 | 119,333 | 760 | 758 | 138,373 | 759 | 760 | |||||||||||||||||||||||
2013 | 151,005 | 758 | 760 | 164,665 | 759 | 762 | |||||||||||||||||||||||
2014 | 120,025 | 762 | 762 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,469,338 | 741 | 732 | $ | 2,806,591 | 740 | 730 | |||||||||||||||||||||
Period-End Balances And Various Asset Quality Attributes By Origination Vintage For The Real Estate Installment Loans | |||||||||||||||||||||||||||||
R/E Installment Loans | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||||||
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed | |||||||||||||||||||||||
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO | |||||||||||||||||||||||
pre-2003 | $ | 13,909 | 678 | 684 | $ | 23,827 | 681 | 683 | |||||||||||||||||||||
2003 | 49,706 | 714 | 724 | 74,451 | 716 | 725 | |||||||||||||||||||||||
2004 | 41,414 | 699 | 695 | 54,240 | 701 | 700 | |||||||||||||||||||||||
2005 | 123,130 | 715 | 712 | 161,205 | 717 | 711 | |||||||||||||||||||||||
2006 | 134,055 | 713 | 702 | 173,994 | 715 | 701 | |||||||||||||||||||||||
2007 | 199,473 | 723 | 709 | 249,198 | 725 | 709 | |||||||||||||||||||||||
2008 | 64,244 | 720 | 714 | 85,192 | 723 | 720 | |||||||||||||||||||||||
2009 | 28,762 | 736 | 725 | 38,842 | 742 | 737 | |||||||||||||||||||||||
2010 | 101,310 | 747 | 752 | 125,094 | 748 | 755 | |||||||||||||||||||||||
2011 | 278,795 | 760 | 759 | 335,343 | 760 | 760 | |||||||||||||||||||||||
2012 | 608,684 | 764 | 766 | 690,461 | 764 | 764 | |||||||||||||||||||||||
2013 | 475,272 | 756 | 759 | 514,933 | 757 | 754 | |||||||||||||||||||||||
2014 | 459,979 | 756 | 752 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,578,733 | 748 | 747 | $ | 2,526,780 | 746 | 742 | |||||||||||||||||||||
Period-End Balances And Various Asset Quality Attributes By Origination Vintage For Permanent Mortgage Classes Of Loans | |||||||||||||||||||||||||||||
Permanent Mortgage | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Average | Average | Average | Average | ||||||||||||||||||||||||||
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed | |||||||||||||||||||||||
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO | |||||||||||||||||||||||
pre-2004 | $ | 150,217 | 723 | 721 | $ | 194,369 | 725 | 725 | |||||||||||||||||||||
2004 | 17,349 | 712 | 712 | 22,720 | 713 | 694 | |||||||||||||||||||||||
2005 | 34,033 | 736 | 740 | 40,272 | 737 | 712 | |||||||||||||||||||||||
2006 | 62,053 | 731 | 724 | 79,367 | 730 | 711 | |||||||||||||||||||||||
2007 | 188,868 | 733 | 717 | 223,440 | 734 | 710 | |||||||||||||||||||||||
2008 | 86,441 | 741 | 709 | 102,074 | 741 | 714 | |||||||||||||||||||||||
Total | $ | 538,961 | 730 | 717 | $ | 662,242 | 731 | 714 | |||||||||||||||||||||
Accruing And Non-Accruing Loans By Class | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on December 31, 2014: | |||||||||||||||||||||||||||||
Accruing | Non-Accruing | ||||||||||||||||||||||||||||
30-89 | 90+ | 30-89 | 90+ | Total | |||||||||||||||||||||||||
Days | Days | Total | Days | Days | Non- | Total | |||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Past Due | Accruing | Current | Past Due | Past Due | Accruing | Loans | ||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | $ | 7,477,410 | $ | 3,196 | $ | 218 | $ | $7,480,824 | $ | 636 | $ | 1,726 | $ | 17,279 | $ | $19,641 | $ | $7,500,465 | |||||||||||
Loans to mortgage companies | 1,162,894 | - | - | 1,162,894 | - | - | 124 | 124 | 1,163,018 | ||||||||||||||||||||
TRUPS (a) | 325,882 | - | - | 325,882 | - | - | 12,845 | 12,845 | 338,727 | ||||||||||||||||||||
Purchased credit-impaired loans | 4,180 | 344 | 552 | 5,076 | - | - | - | - | 5,076 | ||||||||||||||||||||
Total commercial (C&I) | 8,970,366 | 3,540 | 770 | 8,974,676 | 636 | 1,726 | 30,248 | 32,610 | 9,007,286 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,190,562 | 1,446 | - | 1,192,008 | 1,495 | 1,963 | 11,041 | 14,499 | 1,206,507 | ||||||||||||||||||||
Residential CRE | 34,541 | 183 | - | 34,724 | - | - | 857 | 857 | 35,581 | ||||||||||||||||||||
Purchased credit-impaired loans | 35,511 | 3 | 115 | 35,629 | - | - | - | - | 35,629 | ||||||||||||||||||||
Total commercial real estate | 1,260,614 | 1,632 | 115 | 1,262,361 | 1,495 | 1,963 | 11,898 | 15,356 | 1,277,717 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,347,361 | 26,738 | 11,093 | 2,385,192 | 66,410 | 6,628 | 11,108 | 84,146 | 2,469,338 | ||||||||||||||||||||
R/E installment loans | 2,524,019 | 11,951 | 5,602 | 2,541,572 | 27,330 | 3,268 | 5,888 | 36,486 | 2,578,058 | ||||||||||||||||||||
Purchased credit-impaired loans | 675 | - | - | 675 | - | - | - | - | 675 | ||||||||||||||||||||
Total consumer real estate | 4,872,055 | 38,689 | 16,695 | 4,927,439 | 93,740 | 9,896 | 16,996 | 120,632 | 5,048,071 | ||||||||||||||||||||
Permanent mortgage | 495,619 | 3,624 | 5,640 | 504,883 | 16,681 | 2,382 | 15,015 | 34,078 | 538,961 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 185,015 | 1,909 | 1,822 | 188,746 | - | - | - | - | 188,746 | ||||||||||||||||||||
Other | 167,272 | 1,137 | 203 | 168,612 | - | - | 763 | 763 | 169,375 | ||||||||||||||||||||
Purchased credit-impaired loans | 10 | - | - | 10 | - | - | - | - | 10 | ||||||||||||||||||||
Total credit card & other | 352,297 | 3,046 | 2,025 | 357,368 | - | - | 763 | 763 | 358,131 | ||||||||||||||||||||
Total loans, net of unearned | $ | 15,950,951 | $ | 50,531 | $ | $25,245 | $ | $16,026,727 | $112,552 | $ | 15,967 | $ | $74,920 | $ | $203,439 | $ | $16,230,166 | ||||||||||||
Total TRUPS includes LOCOM valuation allowance of $26.2 million. | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on December 31, 2013: | |||||||||||||||||||||||||||||
Accruing | Non-Accruing | ||||||||||||||||||||||||||||
30-89 | 90+ | 30-89 | 90+ | Total | |||||||||||||||||||||||||
Days | Days | Total | Days | Days | Non- | Total | |||||||||||||||||||||||
(Dollars in thousands) | Current | Past Due | Past Due | Accruing | Current | Past Due | Past Due | Accruing | Loans | ||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | $ | 6,701,185 | $ | 8,606 | $ | 425 | $ | 6,710,216 | $ | 19,039 | $ | 3,668 | $ | 20,042 | $ | 42,749 | $ | 6,752,965 | |||||||||||
Loans to mortgage companies | 790,463 | - | - | 790,463 | - | - | 146 | 146 | 790,609 | ||||||||||||||||||||
TRUPS (a) | 336,043 | - | - | 336,043 | - | - | 36,864 | 36,864 | 372,907 | ||||||||||||||||||||
Purchased credit-impaired loans | 5,710 | - | 1,385 | 7,095 | - | - | - | - | 7,095 | ||||||||||||||||||||
Total commercial (C&I) | 7,833,401 | 8,606 | 1,810 | 7,843,817 | 19,039 | 3,668 | 57,052 | 79,759 | 7,923,576 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,030,910 | 5,822 | - | 1,036,732 | 4,339 | 395 | 11,688 | 16,422 | 1,053,154 | ||||||||||||||||||||
Residential CRE | 39,295 | 323 | - | 39,618 | 130 | - | 1,549 | 1,679 | 41,297 | ||||||||||||||||||||
Purchased credit-impaired loans | 34,786 | 2,964 | 1,078 | 38,828 | - | - | - | - | 38,828 | ||||||||||||||||||||
Total commercial real estate | 1,104,991 | 9,109 | 1,078 | 1,115,178 | 4,469 | 395 | 13,237 | 18,101 | 1,133,279 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,688,193 | 25,609 | 14,683 | 2,728,485 | 59,385 | 5,261 | 13,460 | 78,106 | 2,806,591 | ||||||||||||||||||||
R/E installment loans | 2,466,647 | 12,951 | 6,801 | 2,486,399 | 29,221 | 3,120 | 7,151 | 39,492 | 2,525,891 | ||||||||||||||||||||
Purchased credit-impaired loans | 889 | - | - | 889 | - | - | - | - | 889 | ||||||||||||||||||||
Total consumer real estate | 5,155,729 | 38,560 | 21,484 | 5,215,773 | 88,606 | 8,381 | 20,611 | 117,598 | 5,333,371 | ||||||||||||||||||||
Permanent mortgage | 606,707 | 11,235 | 6,129 | 624,071 | 14,868 | 952 | 22,351 | 38,171 | 662,242 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 182,798 | 1,792 | 1,369 | 185,959 | - | - | - | - | 185,959 | ||||||||||||||||||||
Other | 147,846 | 996 | 394 | 149,236 | 1,397 | - | - | 1,397 | 150,633 | ||||||||||||||||||||
Purchased credit-impaired loans | 14 | - | - | 14 | - | - | - | - | 14 | ||||||||||||||||||||
Total credit card & other | 330,658 | 2,788 | 1,763 | 335,209 | 1,397 | - | - | 1,397 | 336,606 | ||||||||||||||||||||
Total loans, net of unearned | $ | 15,031,486 | $ | 70,298 | $ | 32,264 | $ | 15,134,048 | $ | 128,379 | $ | 13,396 | $ | 113,251 | $ | 255,026 | $ | 15,389,074 | |||||||||||
Total TRUPS includes LOCOM valuation allowance of $29.4 million. | |||||||||||||||||||||||||||||
Schedule Of Troubled Debt Restructurings Occurring During The Year | |||||||||||||||||||||||||||||
The following table reflects portfolio loans that were classified as TDRs during the years ended December 31, 2014 and 2013: | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||
(Dollars in thousands) | Number | Recorded Investment | Recorded Investment | Number | Recorded Investment | Recorded Investment | |||||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | 4 | $ | 1,767 | $ | 1,492 | 13 | $ | 17,968 | $ | 17,784 | |||||||||||||||||||
Total commercial (C&I) | 4 | 1,767 | 1,492 | 13 | 17,968 | 17,784 | |||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 2 | 421 | 421 | 5 | 4,221 | 4,187 | |||||||||||||||||||||||
Residential CRE | 1 | 976 | 960 | - | - | - | |||||||||||||||||||||||
Total commercial real estate | 3 | 1,397 | 1,381 | 5 | 4,221 | 4,187 | |||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 309 | 27,078 | 27,514 | 354 | 26,606 | 26,224 | |||||||||||||||||||||||
R/E installment loans | 151 | 10,050 | 9,958 | 426 | 30,400 | 30,104 | |||||||||||||||||||||||
Total consumer real estate | 460 | 37,128 | 37,472 | 780 | 57,006 | 56,328 | |||||||||||||||||||||||
Permanent mortgage | 34 | 9,362 | 8,879 | 49 | 18,716 | 19,184 | |||||||||||||||||||||||
Credit card & other | 64 | 327 | 315 | 50 | 233 | 221 | |||||||||||||||||||||||
Total troubled debt restructurings | 565 | $ | 49,981 | $ | 49,539 | 897 | $ | 98,144 | $ | 97,704 | |||||||||||||||||||
Schedule Of Troubled Debt Restructurings Within The Previous 12 Months | |||||||||||||||||||||||||||||
The following table presents TDRs which re-defaulted during 2014 and 2013, and as to which the modification occurred 12 months or less prior to the re-default. Financing receivables that became classified as TDRs within the previous 12 months and for which there was a payment default during the period are calculated by first identifying TDRs that defaulted during the period and then determining whether they were modified within the 12 months prior to the default. For purposes of this disclosure, FHN generally defines payment default as 30 or more plus days past due. | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
(Dollars in thousands) | Number | Investment | Number | Investment | |||||||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | 6 | $ | 869 | 11 | $ | 6,705 | |||||||||||||||||||||||
Total commercial (C&I) | 6 | 869 | 11 | 6,705 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 4 | 3,086 | 4 | 1,548 | |||||||||||||||||||||||||
Residential CRE | - | - | 1 | 33 | |||||||||||||||||||||||||
Total commercial real estate | 4 | 3,086 | 5 | 1,581 | |||||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 7 | 485 | 13 | 604 | |||||||||||||||||||||||||
R/E installment loans | 9 | 530 | 8 | 428 | |||||||||||||||||||||||||
Total consumer real estate | 16 | 1,015 | 21 | 1,032 | |||||||||||||||||||||||||
Permanent mortgage | 3 | 1,128 | 17 | 7,832 | |||||||||||||||||||||||||
Credit card & other | 2 | 4 | 17 | 65 | |||||||||||||||||||||||||
Total troubled debt restructurings | 31 | $ | 6,102 | 71 | $ | 17,215 |
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Loans And Leases Receivable Allowance [Abstract] | |||||||||||||||
Rollforward Of The Allowance For Loan Losses By Portfolio Segment | The following table provides a rollforward of the allowance for loan losses by portfolio segment for December 31, 2014, 2013, and 2012: | ||||||||||||||
Commercial | Consumer | Permanent | Credit Card | ||||||||||||
(Dollars in thousands) | C&I | Real Estate | Real Estate | Mortgage | and Other | Total | |||||||||
Balance as of January 1, 2012 | $ | 130,413 | $ | 55,586 | 165,077 | $ | 26,194 | $ | 7,081 | $ | 384,351 | ||||
Charge-offs (a) | -30,887 | -19,977 | -147,918 | -13,604 | -12,624 | -225,010 | |||||||||
Recoveries | 11,151 | 4,475 | 17,770 | 3,024 | 3,202 | 39,622 | |||||||||
Provision(b) | -14,486 | -20,087 | 94,020 | 9,314 | 9,239 | 78,000 | |||||||||
Balance as of December 31, 2012 | 96,191 | 19,997 | 128,949 | 24,928 | 6,898 | 276,963 | |||||||||
Allowance - individually evaluated for impairment | 17,799 | 156 | 35,289 | 21,713 | 203 | 75,160 | |||||||||
Allowance - collectively evaluated for impairment | 78,392 | 19,841 | 93,660 | 3,215 | 6,695 | 201,803 | |||||||||
Loans, net of unearned as of December 31, 2012: | |||||||||||||||
Individually evaluated for impairment | 123,636 | 49,517 | 160,000 | 120,924 | 818 | 454,895 | |||||||||
Collectively evaluated for impairment | 8,673,320 | 1,118,718 | 5,528,703 | 644,659 | 288,287 | 16,253,687 | |||||||||
Total loans, net of unearned | $ | 8,796,956 | $ | 1,168,235 | $ | 5,688,703 | $ | 765,583 | $ | 289,105 | $ | 16,708,582 | |||
Balance as of January 1, 2013 | $ | 96,191 | $ | 19,997 | $ | 128,949 | $ | 24,928 | $ | 6,898 | $ | 276,963 | |||
Charge-offs | -22,936 | -3,502 | -73,642 | -9,934 | -11,404 | -121,418 | |||||||||
Recoveries | 12,487 | 4,275 | 21,360 | 2,473 | 2,669 | 43,264 | |||||||||
Provision | 704 | -10,167 | 50,118 | 5,024 | 9,321 | 55,000 | |||||||||
Balance as of December 31, 2013 | 86,446 | 10,603 | 126,785 | 22,491 | 7,484 | 253,809 | |||||||||
Allowance - individually evaluated for impairment | 14,295 | 1,600 | 44,173 | 17,042 | 224 | 77,334 | |||||||||
Allowance - collectively evaluated for impairment | 72,132 | 8,218 | 82,601 | 5,449 | 7,258 | 175,658 | |||||||||
Allowance - purchase credit impaired loans | 19 | 785 | 11 | - | 2 | 817 | |||||||||
Loans, net of unearned as of December 31, 2013: | |||||||||||||||
Individually evaluated for impairment | 80,231 | 27,812 | 170,422 | 121,458 | 545 | 400,468 | |||||||||
Collectively evaluated for impairment | 7,836,250 | 1,066,639 | 5,162,060 | 540,784 | 336,047 | 14,941,780 | |||||||||
Purchased credit-impaired loans | 7,095 | 38,828 | 889 | - | 14 | 46,826 | |||||||||
Total loans, net of unearned | $ | 7,923,576 | $ | 1,133,279 | $ | 5,333,371 | $ | 662,242 | $ | 336,606 | $ | 15,389,074 | |||
Balance as of January 1, 2014 | $ | 86,446 | $ | 10,603 | $ | 126,785 | $ | 22,491 | $ | 7,484 | $ | 253,809 | |||
Charge-offs | -20,492 | -3,741 | -45,391 | -5,891 | -14,931 | -90,446 | |||||||||
Recoveries | 9,666 | 4,150 | 22,824 | 2,314 | 3,131 | 42,085 | |||||||||
Provision | -8,609 | 7,562 | 8,793 | 208 | 19,046 | 27,000 | |||||||||
Balance as of December 31, 2014 | 67,011 | 18,574 | 113,011 | 19,122 | 14,730 | 232,448 | |||||||||
Allowance - individually evaluated for impairment | 5,173 | 796 | 40,778 | 16,627 | 254 | 63,628 | |||||||||
Allowance - collectively evaluated for impairment | 61,806 | 14,702 | 72,156 | 2,495 | 14,476 | 165,635 | |||||||||
Allowance - purchased credit-impaired loans | 32 | 3,076 | 77 | - | - | 3,185 | |||||||||
Loans, net of unearned as of December 31, 2014: | |||||||||||||||
Individually evaluated for impairment | 35,698 | 19,430 | 173,225 | 113,459 | 533 | 342,345 | |||||||||
Collectively evaluated for impairment | 8,966,512 | 1,222,658 | 4,874,171 | 425,502 | 357,588 | 15,846,431 | |||||||||
Purchased credit-impaired loans | 5,076 | 35,629 | 675 | - | 10 | 41,390 | |||||||||
Total loans, net of unearned | $ | 9,007,286 | $ | 1,277,717 | $ | 5,048,071 | $ | 538,961 | $ | 358,131 | $ | 16,230,166 | |||
2012 includes approximately $33 million of charge-offs associated with discharged bankruptcies, largely included in the consumer real estate portfolio segment. | |||||||||||||||
2012 includes approximately $23 million of loan loss provision related to discharged bankruptcies. | |||||||||||||||
Premises_Equipment_And_Leases_
Premises, Equipment And Leases (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Property Plant And Equipment [Abstract] | ||||||||||
Summary of Premises And Equipment | Premises and equipment on December 31 are summarized below: | |||||||||
(Dollars in thousands) | 2014 | 2013 | ||||||||
Land | $ | 76,667 | $ | 75,593 | ||||||
Buildings | 360,133 | 354,070 | ||||||||
Leasehold improvements | 32,404 | 38,303 | ||||||||
Furniture, fixtures, and equipment | 201,443 | 202,102 | ||||||||
Premises and equipment, at cost | 670,647 | 670,068 | ||||||||
Less accumulated depreciation and amortization | 367,651 | 364,824 | ||||||||
Premises and equipment, net | $ | 302,996 | $ | 305,244 | ||||||
Minimum Future Lease Payments For Noncancelable Operating Leases On Premises And Equipment | Minimum future lease payments for noncancelable operating leases, primarily on premises, on December 31, 2014 are shown below: | |||||||||
(Dollars in thousands) | ||||||||||
2015 | $ | 15,585 | ||||||||
2016 | 13,835 | |||||||||
2017 | 12,629 | |||||||||
2018 | 10,917 | |||||||||
2019 | 8,790 | |||||||||
2020 and after | 27,112 | |||||||||
Total minimum lease payments | $ | 88,868 | ||||||||
Payments required under capital leases are not material. | ||||||||||
Rent Expense Incurred Under All Operating Lease Obligations | Rent expense incurred under all operating lease obligations for the years ended December 31 is as follows: | |||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||
Rent expense, gross | $ | 20,123 | $ | 19,445 | $ | 23,109 | ||||
Sublease income | -213 | -1,974 | -3,365 | |||||||
Rent expense, net | $ | 19,910 | $ | 17,471 | $ | 19,744 |
Mortgage_Servicing_Rights_Tabl
Mortgage Servicing Rights (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Mortgage Servicing Rights [Abstract] | |||||||||||||
Summary Of Changes In Capitalized MSR | Following is a summary of changes in capitalized MSR as of December 31, 2013: | ||||||||||||
(Dollars in thousands) | First Liens | Second Liens | HELOC | Total | |||||||||
Fair value on January 1, 2013 | $ | 111,314 | $ | 196 | $ | 2,801 | $ | 114,311 | |||||
Reductions due to sales of MSRs | -39,633 | - | - | -39,633 | |||||||||
Reductions due to loan payments | -20,938 | -80 | -554 | -21,572 | |||||||||
Reductions due to exercise of cleanup calls | -495 | - | - | -495 | |||||||||
Changes in fair value due to: | |||||||||||||
Changes in valuation model inputs or assumptions | 20,184 | - | - | 20,184 | |||||||||
Other changes in fair value | -91 | 45 | 44 | -2 | |||||||||
Fair value on December 31, 2013 | $ | 70,341 | $ | 161 | $ | 2,291 | $ | 72,793 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||
Summary Of Intangible Assets, Net Of Accumulated Amortization Included In The Consolidated Statements | The following is a summary of intangible assets, net of accumulated amortization, included in the Consolidated Statements of Condition: | ||||||||||||||||||
(Dollars in thousands) | Goodwill | Other Intangible Assets (a) | |||||||||||||||||
31-Dec-11 | $ | 133,659 | $ | 26,243 | |||||||||||||||
Amortization expense | - | -3,910 | |||||||||||||||||
Additions | 583 | 367 | |||||||||||||||||
December 31, 2012 | $ | 134,242 | $ | 22,700 | |||||||||||||||
Amortization expense | - | -3,912 | |||||||||||||||||
Additions (b) | 7,701 | 3,200 | |||||||||||||||||
December 31, 2013 | $ | 141,943 | $ | 21,988 | |||||||||||||||
Amortization expense | - | -4,170 | |||||||||||||||||
Additions (b) | 3,989 | 11,700 | |||||||||||||||||
December 31, 2014 | $ | 145,932 | $ | 29,518 | |||||||||||||||
Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. | |||||||||||||||||||
See Note 2 - Acquisitions & Divestures for further details regarding goodwill related to acquisitions. | |||||||||||||||||||
Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments | The following is a summary of gross goodwill and accumulated impairment losses and write-offs detailed by reportable segments included in the Consolidated Statements of Condition through December 31, 2014. Gross goodwill, accumulated impairments, and accumulated divestiture related write-offs were determined beginning on January 1, 2002, when a change in accounting requirements resulted in goodwill being assessed for impairment rather than being amortized. | ||||||||||||||||||
Regional | Capital | ||||||||||||||||||
(Dollars in thousands) | Non-Strategic | Banking | Markets | Total | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 97,421 | $ | 333,654 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-11 | $ | - | $ | 36,238 | $ | 97,421 | $ | 133,659 | |||||||||||
Additions | - | - | 583 | 583 | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2012 | - | - | 583 | 583 | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 36,238 | $ | 98,004 | $ | 334,237 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-12 | $ | - | $ | 36,238 | $ | 98,004 | $ | 134,242 | |||||||||||
Additions | - | 7,701 | - | 7,701 | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2013 | - | 7,701 | - | 7,701 | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 43,939 | $ | 98,004 | $ | 341,938 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-13 | $ | - | $ | 43,939 | $ | 98,004 | $ | 141,943 | |||||||||||
Additions | - | 3,989 | - | 3,989 | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2014 | - | 3,989 | - | 3,989 | |||||||||||||||
Gross goodwill | $ | 199,995 | $ | 47,928 | $ | 98,004 | $ | 345,927 | |||||||||||
Accumulated impairments | -114,123 | - | - | -114,123 | |||||||||||||||
Accumulated divestiture related write-offs | -85,872 | - | - | -85,872 | |||||||||||||||
31-Dec-14 | $ | - | $ | 47,928 | $ | 98,004 | $ | 145,932 |
Time_Deposit_Maturities_Tables
Time Deposit Maturities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Maturities Of Time Deposits [Abstract] | ||||||||
Schedule Of Time Deposits Included In Interest-Bearing Deposits | Following is a table of maturities for time deposits outstanding on December 31, 2014, which include Certificates of deposit under $100,000, Other time, and Certificates of deposit $100,000 and more. Certificates of deposit $100,000 and more totaled $.4 billion on December 31, 2014. Time deposits are included in Interest-bearing deposits on the Consolidated Statements of Condition. | |||||||
(Dollars in thousands) | ||||||||
2015 | $ | 860,822 | ||||||
2016 | 137,356 | |||||||
2017 | 98,508 | |||||||
2018 | 82,457 | |||||||
2019 | 52,733 | |||||||
2020 and after | 45,062 | |||||||
Total | $ | 1,276,938 |
Short_Term_Borrowings_Tables
Short Term Borrowings (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Short Term Borrowings [Abstract] | ||||||||||||||||||
Schedule Of Short Term Debt [Table Text Block] | The detail of these borrowings for the years 2014, 2013 and 2012 is presented in the following table: | |||||||||||||||||
(Dollars in thousands) | Federal Funds Purchased | Securities Sold Under Agreements to Repurchase | Trading Liabilities | Other Short-term Borrowings | ||||||||||||||
2014 | ||||||||||||||||||
Average balance | $ | 1,101,910 | $ | 447,801 | $ | 633,867 | $ | 531,984 | ||||||||||
Year-end balance | 1,037,052 | 562,214 | 594,314 | 157,218 | ||||||||||||||
Maximum month-end outstanding | 1,247,295 | 562,214 | 718,767 | 1,829,141 | ||||||||||||||
Average rate for the year | 0.25 | % | 0.08 | % | 2.43 | % | 0.3 | % | ||||||||||
Average rate at year-end | 0.25 | 0.06 | 2.6 | 0.56 | ||||||||||||||
2013 | ||||||||||||||||||
Average balance | $ | 1,263,792 | $ | 487,923 | $ | 665,095 | $ | 299,288 | ||||||||||
Year-end balance | 1,042,633 | 442,789 | 368,348 | 181,146 | ||||||||||||||
Maximum month-end outstanding | 1,429,319 | 618,643 | 895,844 | 1,057,412 | ||||||||||||||
Average rate for the year | 0.25 | % | 0.14 | % | 2.05 | % | 0.27 | % | ||||||||||
Average rate at year-end | 0.25 | 0.1 | 2.46 | 0.43 | ||||||||||||||
2012 | ||||||||||||||||||
Average balance | $ | 1,548,020 | $ | 380,871 | $ | 589,461 | $ | 450,690 | ||||||||||
Year-end balance | 1,351,023 | 555,438 | 564,429 | 441,201 | ||||||||||||||
Maximum month-end outstanding | 1,700,172 | 555,438 | 808,139 | 1,270,180 | ||||||||||||||
Average rate for the year | 0.25 | % | 0.18 | % | 1.77 | % | 0.15 | % | ||||||||||
Average rate at year-end | 0.25 | 0.15 | 1.88 | 0.25 |
Term_Borrowings_Tables
Term Borrowings (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Long Term Debt [Abstract] | ||||||||
Schedule Of Information Pertaining To Term Borrowings | The following table presents information pertaining to Term Borrowings reported on FHN's Consolidated Statements of Condition on December 31: | |||||||
(Dollars in thousands) | 2014 | 2013 | ||||||
First Tennessee Bank National Association: | ||||||||
Subordinated notes (a) (b) | ||||||||
Maturity date - January 15, 2015 -- 5.05% | $ | 304,525 | $ | 317,714 | ||||
Maturity date - April 1, 2016 -- 5.65% | 264,667 | 276,273 | ||||||
Senior capital notes (b) | ||||||||
Maturity date - December 1, 2019 -- 2.95% | 398,011 | - | ||||||
Other collateralized borrowings -- Maturity date - December 22, 2037 | ||||||||
0.54% on December 31, 2014 and 2013 (c) | 62,562 | 60,223 | ||||||
Federal Home Loan Bank borrowings (d) | - | 2,390 | ||||||
First Horizon National Corporation: | ||||||||
Senior capital notes (b) | ||||||||
Maturity date - December 15, 2015 -- 5.375% | 508,358 | 516,584 | ||||||
Subordinated notes (b) | ||||||||
Maturity date - April 15, 2034 -- 6.30% | 212,474 | 192,014 | ||||||
FT Real Estate Securities Company, Inc.: | ||||||||
Cumulative preferred stock (a) | ||||||||
Maturity date - March 31, 2031 -- 9.50% | 45,896 | 45,828 | ||||||
First Horizon ABS Trusts: | ||||||||
Other collateralized borrowings (e) | ||||||||
Maturity date - October 26, 2026 | ||||||||
0.30% on December 31, 2013 (f) | - | 98,631 | ||||||
Maturity date - September 25, 2029 | ||||||||
0.30% on December 31, 2013 (f) | - | 122,562 | ||||||
Maturity date - September 1, 2032 | ||||||||
6.45% on December 31, 2013 (f) | - | 8,783 | ||||||
Maturity date - October 25, 2034 | ||||||||
0.33% on December 31, 2014 and 2013 | 65,612 | 80,857 | ||||||
First Tennessee New Markets Corporation Investments: | ||||||||
Maturity date - October 25, 2018 -- 4.97% | 7,301 | 7,301 | ||||||
Maturity date - February 1, 2033 -- 4.97% | 8,000 | 8,000 | ||||||
Maturity date - August 08, 2036 -- 2.38% | 2,699 | 2,699 | ||||||
Total | $ | 1,880,105 | $ | 1,739,859 | ||||
A portion qualifies for total capital under the risk-based capital guidelines. | ||||||||
Changes in the fair value of debt attributable to interest rate risk is hedged. Refer to Note 23 – Derivatives. | ||||||||
Secured by trust preferred loans. | ||||||||
The Federal Home Loan Bank borrowings were issued with fixed interest rates and had remaining terms of 1 to 16 years at December, 31 2013. These borrowings had weighted average interest rate of 2.41 percent on December 31, 2013. | ||||||||
On December 31, 2014 and 2013, borrowings secured by $76.8 million and $344.9 million, respectively, of residential real estate loans. | ||||||||
In 2014, FHN resolved three previously consolidated on-balance sheet consumer loan securitizations and the collateralized borrowings were extinguished. | ||||||||
Schedule Of Annual Principal Repayment Requirements | Annual principal repayment requirements as of December 31, 2014 are as follows: | |||||||
(Dollars in thousands) | ||||||||
2015 | $ | 804,000 | ||||||
2016 | 250,000 | |||||||
2017 | - | |||||||
2018 | 7,301 | |||||||
2019 | 400,000 | |||||||
2020 and after | 392,058 |
Recovered_Sheet3
Regulatory Capital And Restrictions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Regulatory Capital Requirements [Abstract] | |||||||||||||
Summary Of Actual Capital Amounts And Ratios | First Horizon National | First Tennessee Bank | |||||||||||
Corporation | National Association | ||||||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | |||||||||
On December 31, 2014 | |||||||||||||
Actual: | |||||||||||||
Total Capital | $ | 3,148,336 | 16.18 | % | $ | 3,441,315 | 17.86 | % | |||||
Tier 1 Capital | 2,813,503 | 14.46 | 3,107,407 | 16.12 | |||||||||
Leverage | 2,813,503 | 11.43 | 3,107,407 | 12.72 | |||||||||
Minimum Requirement for Capital Adequacy Purposes: | |||||||||||||
Total Capital | 1,556,213 | 8 | 1,541,837 | 8 | |||||||||
Tier 1 Capital | 778,106 | 4 | 770,918 | 4 | |||||||||
Leverage | 985,033 | 4 | 977,374 | 4 | |||||||||
Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: | |||||||||||||
Total Capital | 1,927,296 | 10 | |||||||||||
Tier 1 Capital | 1,156,378 | 6 | |||||||||||
Leverage | 1,221,717 | 5 | |||||||||||
On December 31, 2013 | |||||||||||||
Actual: | |||||||||||||
Total Capital | $ | 3,063,631 | 16.23 | % | $ | 3,434,410 | 18.36 | % | |||||
Tier 1 Capital | 2,618,976 | 13.87 | 2,991,866 | 15.99 | |||||||||
Leverage | 2,618,976 | 11.04 | 2,991,866 | 12.71 | |||||||||
Minimum Requirement for Capital Adequacy Purposes: | |||||||||||||
Total Capital | 1,510,288 | 8 | 1,496,685 | 8 | |||||||||
Tier 1 Capital | 755,144 | 4 | 748,342 | 4 | |||||||||
Leverage | 949,181 | 4 | 941,641 | 4 | |||||||||
Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: | |||||||||||||
Total Capital | 1,870,856 | 10 | |||||||||||
Tier 1 Capital | 1,122,514 | 6 | |||||||||||
Leverage | 1,177,051 | 5 |
Other_Income_And_Other_Expense1
Other Income And Other Expense (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Other Income And Other Expense [Abstract] | |||||||||||
Other Income And Other Expense | Following is detail of All other income and commissions and All other expense as presented in the Consolidated Statements of Income: | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
All other income and commissions: | |||||||||||
ATM interchange fees | $ | 10,943 | $ | 10,412 | $ | 10,528 | |||||
Electronic banking fees | 6,190 | 6,289 | 6,537 | ||||||||
Letter of credit fees | 4,864 | 5,081 | 5,158 | ||||||||
Deferred compensation | 2,042 | 4,685 | 4,461 | ||||||||
Gain/(loss) on extinguishment of debt | -4,166 | - | - | ||||||||
Other | 12,390 | 13,874 | 20,257 | ||||||||
Total | $ | 32,263 | $ | 40,341 | $ | 46,941 | |||||
All other expense: | |||||||||||
Other insurance and taxes | $ | 12,900 | $ | 12,598 | $ | 10,734 | |||||
Tax credit investments | 10,767 | 12,103 | 18,655 | ||||||||
Travel and entertainment | 9,095 | 8,959 | 8,366 | ||||||||
Customer relations | 5,726 | 4,916 | 4,578 | ||||||||
Employee training and dues | 4,518 | 5,054 | 4,525 | ||||||||
Supplies | 3,745 | 3,800 | 3,752 | ||||||||
Miscellaneous loan costs | 2,690 | 4,209 | 4,126 | ||||||||
Litigation and regulatory matters | -2,720 | 63,654 | 33,313 | ||||||||
Other | 41,952 | 32,579 | 41,195 | ||||||||
Total | $ | 88,673 | $ | 147,872 | $ | 129,244 |
Components_of_Other_Comprehens1
Components of Other Comprehensive Income/(Loss) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Table Text Block Supplement [Abstract] | |||||||||||||
Schedule Of Changes In Accumulated Other Comprehensive Income Balances By Component Net Of Tax | Following is detail of "Accumulated other comprehensive income/(loss)" as presented in the Consolidated Statements of Condition: | ||||||||||||
Accumulated Other Comprehensive Income/(Loss) | |||||||||||||
Before-Tax Amount | Tax Benefit/ (Expense) | ||||||||||||
(Dollars in thousands) | |||||||||||||
31-Dec-11 | $ | -130,156 | |||||||||||
Other comprehensive income: | |||||||||||||
Fair value adjustments on securities available-for-sale | $ | -19,016 | $ | 7,397 | -11,619 | ||||||||
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss) | -328 | 128 | -200 | ||||||||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | -45,110 | 17,906 | -27,204 | ||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 37,867 | -15,031 | 22,836 | ||||||||||
31-Dec-12 | -26,587 | 10,400 | -146,343 | ||||||||||
Other comprehensive income: | |||||||||||||
Fair value adjustments on securities available-for-sale | -108,703 | 41,935 | -66,768 | ||||||||||
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss) | 451 | -174 | 277 | ||||||||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | 81,456 | -31,392 | 50,064 | ||||||||||
Prior service credit/(cost) arising during the period | 10,678 | -4,115 | 6,563 | ||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 10,085 | -3,887 | 6,198 | ||||||||||
31-Dec-13 | -6,033 | 2,367 | -150,009 | ||||||||||
Other comprehensive income: | |||||||||||||
Fair value adjustments on securities available-for-sale | 47,957 | -18,135 | 29,822 | ||||||||||
Pension and postretirement plans: | |||||||||||||
Net actuarial gain/(loss) arising during the period | -115,976 | 44,803 | -71,173 | ||||||||||
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost | 5,075 | -1,961 | 3,114 | ||||||||||
31-Dec-14 | $ | -62,944 | $ | 24,707 | $ | -188,246 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||
Schedule Of Components Of Consolidated Statements Of Income And Equity | The aggregate amount of income taxes included in the Consolidated Statements of Income and the Consolidated Statements of Equity for the years ended December 31, were as follows: | |||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||||||
Consolidated Statements of Income: | ||||||||||||||
Income tax expense/(benefit) related to continuing operations | $ | 78,501 | $ | -32,169 | $ | -85,262 | ||||||||
Income tax expense/(benefit) related to discontinued operations | - | 343 | 93 | |||||||||||
Consolidated Statements of Equity: | ||||||||||||||
Income tax expense/(benefit) related to: | ||||||||||||||
Pension and postretirement plans | -42,842 | 39,394 | -2,875 | |||||||||||
Unrealized gains/(losses) on investment securities available-for-sale | 18,135 | -41,761 | -7,525 | |||||||||||
Share-based compensation | 7,220 | 1,569 | 4,140 | |||||||||||
Total | $ | 61,014 | $ | -32,624 | $ | -91,429 | ||||||||
Schedule Of Components Of Income Tax Expense/(Benefit) | The components of income tax expense/(benefit) related to continuing operations for the years ended December 31, were as follows: | |||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||||||
Current: | ||||||||||||||
Federal | $ | 74,193 | $ | -9,011 | $ | -5,304 | ||||||||
State | -3,461 | -13,792 | -9,725 | |||||||||||
Foreign | 1 | 10 | 33 | |||||||||||
Deferred: | ||||||||||||||
Federal | 3,364 | 4,169 | -59,417 | |||||||||||
State | 4,390 | -13,508 | -10,848 | |||||||||||
Foreign | 14 | -37 | -1 | |||||||||||
Total | $ | 78,501 | $ | -32,169 | $ | -85,262 | ||||||||
Schedule Of Computation Of Income Tax Expense Differed From The Amounts Computed By Applying Statutory Federal Income Tax Rate To Income/(Loss) From Continuing Operations Before Income Taxes | A reconciliation of expected income tax expense/(benefit) at the federal statutory rate of 35 percent to the total income tax expense from continuing operations follows: | |||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | |||||||||||
Federal income tax rate | 35 | % | 35 | % | 35 | % | ||||||||
Tax computed at statutory rate | $ | 108,343 | $ | 2,923 | $ | -35,597 | ||||||||
Increase/(decrease) resulting from: | ||||||||||||||
State income taxes | 8,424 | -2,556 | -4,234 | |||||||||||
Bank owned life insurance ("BOLI") | -6,671 | -6,646 | -7,428 | |||||||||||
401(k) - employee stock ownership plan ("ESOP") | -659 | -568 | -155 | |||||||||||
Tax-exempt interest | -5,798 | -5,094 | -4,469 | |||||||||||
Non-deductible expenses | 829 | 963 | 1,175 | |||||||||||
Tax credits | -11,392 | -13,340 | -18,125 | |||||||||||
Subsidiary liquidation | - | - | -6,733 | |||||||||||
Change in valuation allowance - DTA | -13,168 | -4,427 | - | |||||||||||
Other changes in unrecognized tax benefits | -1,570 | -5,106 | -8,981 | |||||||||||
Other | 163 | 1,682 | -715 | |||||||||||
Total | $ | 78,501 | $ | -32,169 | $ | -85,262 | ||||||||
Schedule Of Deferred Tax Assets And Deferred Tax Liabilities Due To Temporary Differences | Temporary differences which gave rise to deferred tax assets and deferred tax liabilities on December 31, 2014 and 2013 were as follows: | |||||||||||||
(Dollars in thousands) | 2014 | 2013 | ||||||||||||
Deferred tax assets: | ||||||||||||||
Loss reserves | $ | 100,569 | $ | 94,170 | ||||||||||
Employee benefits | 136,007 | 97,246 | ||||||||||||
Investment in partnerships | 25,861 | 29,856 | ||||||||||||
Foreclosed property | 1,205 | 901 | ||||||||||||
Accrued expenses | 31,613 | 25,158 | ||||||||||||
Investment in AFS securities | - | 6,874 | ||||||||||||
Capital loss carryforwards | 44,445 | 51,876 | ||||||||||||
Credit carryforwards | 39,196 | 98,919 | ||||||||||||
Federal NOL carryforwards | - | 4,184 | ||||||||||||
State NOL carryforwards | 15,279 | 29,422 | ||||||||||||
Unrecognized tax benefits | 1,915 | 3,103 | ||||||||||||
Other | 18,902 | 21,760 | ||||||||||||
Gross deferred tax assets | 414,992 | 463,469 | ||||||||||||
Valuation allowance | -44,584 | -57,752 | ||||||||||||
Deferred tax assets after valuation allowance | $ | 370,408 | $ | 405,717 | ||||||||||
Deferred tax liabilities: | ||||||||||||||
Capitalized mortgage servicing rights | $ | 337 | $ | 25,245 | ||||||||||
Depreciation and amortization | 22,353 | 46,209 | ||||||||||||
Federal Home Loan Bank stock | 9,383 | 17,426 | ||||||||||||
Investment in AFS securities | 11,639 | - | ||||||||||||
Other intangible assets | 30,888 | 28,417 | ||||||||||||
Prepaid expenses | 9,874 | 9,752 | ||||||||||||
Other | 1,570 | 2,958 | ||||||||||||
Gross deferred tax liabilities | 86,044 | 130,007 | ||||||||||||
Net deferred tax assets | $ | 284,364 | $ | 275,710 | ||||||||||
Schedule Of Rollforward Of Unrecognized Tax Benefits | The rollforward of unrecognized tax benefits is shown below: | |||||||||||||
(Dollars in thousands) | ||||||||||||||
Balance at December 31, 2012 | $ | 17,638 | ||||||||||||
Increases related to prior year tax positions | - | |||||||||||||
Decreases related to prior year tax positions | -1,688 | |||||||||||||
Settlements | -7,386 | |||||||||||||
Lapse of statutes | -1,943 | |||||||||||||
Balance at December 31, 2013 | $ | 6,621 | ||||||||||||
Increases related to prior year tax positions | 960 | |||||||||||||
Increases related to current year tax positions | 868 | |||||||||||||
Lapse of statutes | -3,242 | |||||||||||||
Balance at December 31, 2014 | $ | 5,207 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Earnings Per Share [Abstract] | |||||||||||
Schedule Of Reconciliation Of The Numerators Used In Calculating Earnings/(Loss) Per Share | The following tables provide a reconciliation of the numerators used in calculating earnings/(loss) per share attributable to common shareholders: | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Income/(loss) from continuing operations | $ | 231,050 | $ | 40,519 | $ | -16,443 | |||||
Income/(loss) from discontinued operations, net of tax | - | 548 | 148 | ||||||||
Net income/(loss) | 231,050 | 41,067 | -16,295 | ||||||||
Net income attributable to noncontrolling interest | 11,527 | 11,465 | 11,464 | ||||||||
Net income/(loss) attributable to controlling interest | 219,523 | 29,602 | -27,759 | ||||||||
Preferred stock dividends | 6,200 | 5,838 | - | ||||||||
Net income/(loss) available to common shareholders | $ | 213,323 | $ | 23,764 | $ | -27,759 | |||||
Income/(loss) from continuing operations | $ | 231,050 | $ | 40,519 | $ | -16,443 | |||||
Net income attributable to noncontrolling interest | 11,527 | 11,465 | 11,464 | ||||||||
Preferred stock dividends | 6,200 | 5,838 | - | ||||||||
Net income/(loss) from continuing operations available to common shareholders | $ | 213,323 | $ | 23,216 | $ | -27,907 | |||||
Schedule Of Reconciliation Of Weighted Average Common Shares To Diluted Average Common Shares | The following table provides a reconciliation of weighted average common shares to diluted average common shares: | ||||||||||
(Shares in thousands) | 2014 | 2013 | 2012 | ||||||||
Weighted average common shares outstanding - basic | 234,997 | 237,972 | 248,349 | ||||||||
Effect of dilutive securities | 1,738 | 1,822 | - | ||||||||
Weighted average common shares outstanding - diluted | 236,735 | 239,794 | 248,349 | ||||||||
Schedule Of Reconciliation Of Earnings/(Loss) Per Common And Diluted Share | The following tables show earnings/(loss) per common and diluted share: | ||||||||||
Earnings/(loss) per common share: | 2014 | 2013 | 2012 | ||||||||
Income/(loss) per share from continuing operations available to common shareholders | $ | 0.91 | $ | 0.1 | $ | -0.11 | |||||
Income/(loss) per share available to common shareholders | $ | 0.91 | $ | 0.1 | $ | -0.11 | |||||
Diluted earnings/(loss) per common share: | |||||||||||
Diluted income/(loss) per share from continuing operations available to common shareholders | $ | 0.9 | $ | 0.1 | $ | -0.11 | |||||
Diluted income/(loss) per share available to common shareholders | $ | 0.9 | $ | 0.1 | $ | -0.11 |
Contingencies_And_Other_Disclo1
Contingencies And Other Disclosures (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
[CommitmentsAndContingenciesDisclosureAbstract] | ||||||||||||||
Schedule Of Original Purchase And Ending Balance Amount Of Investments Subject To Litigation | Alt-A | Jumbo | ||||||||||||
(Dollars in thousands) | Senior | Junior | Senior | Junior | ||||||||||
Vintage | ||||||||||||||
Original Purchase Price: | ||||||||||||||
2005 | $ | 200,117 | $ | - | $ | 30,000 | $ | - | ||||||
2006 | 77,906 | - | - | - | ||||||||||
2007 | 199,012 | - | 50,000 | - | ||||||||||
Total | $ | 477,035 | $ | - | $ | 80,000 | $ | - | ||||||
Ending Balance per the December 25, 2014, trust statements: | ||||||||||||||
2005 | $ | 51,564 | $ | - | $ | 10,342 | $ | - | ||||||
2006 | 33,066 | - | - | - | ||||||||||
2007 | 86,038 | - | 14,711 | - | ||||||||||
Total | $ | 170,668 | $ | - | $ | 25,053 | $ | - |
Pension_Savings_And_Other_Empl1
Pension, Savings, And Other Employee Benefits (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Pension, Savings, And Other Employee Benefits [Abstract] | ||||||||||||||||||||
Schedule of Actuarial Assumptions Used In The Defined Benefit Pension Plan And Other Employee Benefit Plans | ||||||||||||||||||||
The actuarial assumptions used in the defined benefit pension plan and other employee benefit plans were as follows: | ||||||||||||||||||||
Benefit Obligations | Net Periodic Benefit Cost | |||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||
Discount rate | ||||||||||||||||||||
Qualified pension | 4.30% | 5.15% | 4.35% | 5.15% | 4.35% | 5.10% | ||||||||||||||
Nonqualified pension | 4.00% | 4.70% | 3.85% | 4.70% | 3.85% | 4.75% | ||||||||||||||
Other nonqualified pension | 3.35% | 4.05% | 3.20% | 4.05% | 3.20% | 4.40% | ||||||||||||||
Postretirement benefits | 3.45% - 4.45% | 4.10% - 5.35% | 3.80% - 4.55% | 4.10% - 5.35% | 3.80% - 4.55% | 4.75% - 5.25% | ||||||||||||||
Expected long-term rate of return | ||||||||||||||||||||
Qualified pension/postretirement benefits | 5.85% | 6.60% | 6.05% | 6.60% | 6.05% | 6.90% | ||||||||||||||
Postretirement benefit (retirees post January 1, 1993) | 6.35% | 6.95% | 6.05% | 6.95% | 6.05% | 6.90% | ||||||||||||||
Postretirement benefit (retirees prior to January 1, 1993) | 2.30% | 2.85% | 3.93% | 2.85% | 3.93% | 4.49% | ||||||||||||||
Rate of compensation increase (a) | N/A | N/A | 4.10% | N/A | N/A | 4.10% | ||||||||||||||
(a) Due to the pension plan freeze as of December 31, 2012, the rate of compensation increase no longer applies to the qualified pension plan. | ||||||||||||||||||||
Schedule Of Components Of Net Periodic Benefit Cost | The components of net periodic benefit cost for the plan years 2014, 2013 and 2012 are as follows: | |||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||
Components of net periodic benefit cost | ||||||||||||||||||||
Service cost (a) | $ | 56 | $ | 63 | $ | 14,800 | $ | 207 | $ | 460 | $ | 467 | ||||||||
Interest cost | 34,915 | 32,361 | 33,040 | 1,754 | 2,033 | 2,298 | ||||||||||||||
Expected return on plan assets | -40,093 | -34,946 | -39,813 | -1,025 | -816 | -915 | ||||||||||||||
Amortization of unrecognized: | ||||||||||||||||||||
Transition (asset)/obligation | - | - | - | - | - | 736 | ||||||||||||||
Prior service cost/(credit) | 346 | 353 | 398 | -1,163 | -299 | -9 | ||||||||||||||
Actuarial (gain)/loss (b) | 6,898 | 9,832 | 35,999 | -1,006 | -171 | -488 | ||||||||||||||
Net periodic benefit cost | 2,122 | 7,663 | 44,424 | -1,233 | 1,207 | 2,089 | ||||||||||||||
ASC 715 curtailment/settlement expense (c) | - | 370 | 1,231 | - | - | - | ||||||||||||||
ASC 715 special termination benefits (d) | 1,009 | - | - | - | - | - | ||||||||||||||
Total periodic benefit costs | $ | 3,131 | $ | 8,033 | $ | 45,655 | $ | -1,233 | $ | 1,207 | $ | 2,089 | ||||||||
(a) 2014 and 2013 decline in total pension benefits service cost reflects the freeze of the pension plans effective December 31, 2012. | ||||||||||||||||||||
(b) 2014 and 2013 decline in recognition of total pension benefits actuarial loss driven by the change in amortization term from the estimated average remaining service period of active employees to the estimated average remaining life expectancy of the remaining participants in conjunction with the freeze of the pension plans on December 31, 2012. | ||||||||||||||||||||
(c) In 2013 and 2012, lump sum payments under the supplemental retirement plan triggered settlement accounting. In accordance with its practice, FHN performed a remeasurement of the plan in conjunction with the settlement and realized an ASC 715 settlement expense. | ||||||||||||||||||||
(d) In 2014, a one-time special termination benefits charge was recognized related to recalculation of a participant’s benefit under a non-qualified plan upon retirement. | ||||||||||||||||||||
Schedule Of Plans' Benefit Obligations And Plan Assets | The following tables set forth the plans' benefit obligations and plan assets for 2014 and 2013: | |||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||
Benefit obligation, beginning of year | $ | 693,716 | $ | 766,947 | $ | 38,464 | $ | 54,716 | ||||||||||||
Service cost | 56 | 63 | 207 | 460 | ||||||||||||||||
Interest cost | 34,915 | 32,361 | 1,754 | 2,033 | ||||||||||||||||
Plan amendments | - | - | - | -10,678 | ||||||||||||||||
Actuarial (gain)/loss (a) (b) | 157,619 | -78,617 | -3,293 | -7,237 | ||||||||||||||||
Actual benefits paid | -27,462 | -27,038 | -1,804 | -1,030 | ||||||||||||||||
Expected Medicare Part D reimbursement | - | - | - | 200 | ||||||||||||||||
Special termination benefits | 1,009 | - | - | - | ||||||||||||||||
Benefit obligation, end of year | $ | 859,853 | $ | 693,716 | $ | 35,328 | $ | 38,464 | ||||||||||||
Change in Plan Assets | ||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 640,605 | $ | 633,972 | $ | 16,360 | $ | 14,288 | ||||||||||||
Actual return on plan assets | 78,491 | 28,699 | 973 | 2,659 | ||||||||||||||||
Employer contributions | 3,915 | 4,972 | 1,110 | 443 | ||||||||||||||||
Actual benefits paid - settlement payments | - | -1,160 | -1,804 | -1,030 | ||||||||||||||||
Actual benefits paid - other payments | -27,462 | -25,878 | - | - | ||||||||||||||||
Fair value of plan assets, end of year | $ | 695,549 | $ | 640,605 | $ | 16,639 | $ | 16,360 | ||||||||||||
Funded status of the plans | $ | -164,304 | $ | -53,111 | $ | -18,689 | $ | -22,104 | ||||||||||||
Amounts Recognized in the Statements of | ||||||||||||||||||||
Financial Condition | ||||||||||||||||||||
Other assets | $ | - | $ | - | $ | 11,882 | $ | 9,158 | ||||||||||||
Other liabilities | -164,304 | -53,111 | -30,571 | -31,262 | ||||||||||||||||
Net asset/(liability) at end of year | $ | -164,304 | $ | -53,111 | $ | -18,689 | $ | -22,104 | ||||||||||||
2013 change in other benefits actuarial (gain)/loss driven by a change in the retiree medical plan. | ||||||||||||||||||||
2014 amounts primarily affected by decrease in the discount rates and consideration of the new life expectancy tables. | ||||||||||||||||||||
Schedule Of Defined Benefit Plan Balances Reflected In Accumulated Other Comprehensive Income On Pre-Tax Basis | Unrecognized transition assets and obligations, unrecognized actuarial gains and losses, and unrecognized prior service costs and credits are recognized as a component of accumulated other comprehensive income. Balances reflected in accumulated other comprehensive income on a pre-tax basis for the years ended December 31, 2014 and 2013 consist of: | |||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income | ||||||||||||||||||||
Prior service cost/(credit) | $ | 581 | $ | 927 | $ | -8,577 | $ | -9,740 | ||||||||||||
Net actuarial (gain)/loss | 354,264 | 241,941 | -10,664 | -8,429 | ||||||||||||||||
Total | $ | 354,845 | $ | 242,868 | $ | -19,241 | $ | -18,169 | ||||||||||||
Schedule Of Changes In Plan Assets And Benefit Obligation Recognied In Other Comprehensive Income On Pre-Tax Basis | The pre-tax amounts recognized in other comprehensive income during 2014 and 2013 were as follows: | |||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Changes in plan assets and benefit obligation recognized in other comprehensive income | ||||||||||||||||||||
Net actuarial (gain)/loss arising during measurement period (a) | $ | 119,217 | $ | -72,376 | $ | -3,241 | $ | -9,080 | ||||||||||||
Prior service cost/(credit) arising during measurement period | - | - | - | -10,678 | ||||||||||||||||
Items amortized during the measurement period: | ||||||||||||||||||||
Net transition (asset)/obligation | - | - | - | - | ||||||||||||||||
Prior service credit/(cost) | -346 | -353 | 1,163 | 299 | ||||||||||||||||
Net actuarial gain/(loss) | -6,898 | -10,202 | 1,006 | 171 | ||||||||||||||||
Total recognized in other comprehensive income | $ | 111,973 | $ | -82,931 | $ | -1,072 | $ | -19,288 | ||||||||||||
2014 amounts primarily affected by decrease in the discount rates and consideration of the new life expectancy tables. | ||||||||||||||||||||
Schedule Of Estimated Amounts In Accumulated Other Comprehensive Income Loss To Be Recognized Over Next Fiscal Year Into Net Periodic Benefit Cost | ||||||||||||||||||||
The estimated net actuarial (gain)/loss, prior service cost/(credit), and transition (asset)/obligation for the plan that will amortize from accumulated other comprehensive income into net periodic benefit cost during the following fiscal year are as follows: | ||||||||||||||||||||
Total Pension Benefits | Other Benefits | |||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Prior service cost/(credit) | $ | 332 | $ | 346 | $ | -1,163 | $ | -1,163 | ||||||||||||
Net actuarial (gain)/loss | 9,582 | 6,539 | -976 | -755 | ||||||||||||||||
Schedule Of Expected Benefit Payment | The following table provides detail on expected benefit payments, which reflect expected future service, as appropriate: | |||||||||||||||||||
Pension | Other | |||||||||||||||||||
(Dollars in thousands) | Benefits | Benefits | ||||||||||||||||||
2015 | $ | 29,897 | $ | 1,427 | ||||||||||||||||
2016 | 32,497 | 1,462 | ||||||||||||||||||
2017 | 34,434 | 1,502 | ||||||||||||||||||
2018 | 36,405 | 1,548 | ||||||||||||||||||
2019 | 38,266 | 1,597 | ||||||||||||||||||
2020-2024 | 219,771 | 8,831 | ||||||||||||||||||
Schedule of Fair Value of Pension Plan Assets By Asset Category | The fair value of FHN’s pension plan assets at December 31, 2014 and December 31, 2013, by asset category classified using the Fair Value measurement hierarchy is shown in the table below. See Note 25 – Fair Value of Assets and Liabilities for more details about Fair Value measurements. | |||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 5,817 | $ | - | $ | - | $ | 5,817 | ||||||||||||
Equity securities: | ||||||||||||||||||||
U.S. mid capital | 10,803 | - | - | 10,803 | ||||||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasuries | - | 3,684 | - | 3,684 | ||||||||||||||||
Corporate, municipal and foreign bonds | - | 230,808 | - | 230,808 | ||||||||||||||||
Common and collective funds: | ||||||||||||||||||||
Fixed income | - | 231,666 | - | 231,666 | ||||||||||||||||
U.S. large capital | - | 119,234 | - | 119,234 | ||||||||||||||||
U.S. small capital | - | 39,449 | - | 39,449 | ||||||||||||||||
International | - | 54,088 | - | 54,088 | ||||||||||||||||
Total | $ | 16,620 | $ | 678,929 | $ | - | $ | 695,549 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 9,347 | $ | - | $ | - | $ | 9,347 | ||||||||||||
Equity securities: | ||||||||||||||||||||
U.S. mid and small capital | 63,834 | - | - | 63,834 | ||||||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasuries | - | 4,585 | - | 4,585 | ||||||||||||||||
Corporate, municipal and foreign bonds | - | 199,896 | - | 199,896 | ||||||||||||||||
Common and collective funds: | ||||||||||||||||||||
Fixed income | - | 205,580 | - | 205,580 | ||||||||||||||||
U.S. large capital | - | 102,702 | - | 102,702 | ||||||||||||||||
International | - | 54,661 | - | 54,661 | ||||||||||||||||
Total | $ | 73,181 | $ | 567,424 | $ | - | $ | 640,605 | ||||||||||||
Schedule of Fair Value Of Retiree Medical Plan Assets By Asset Category | The fair value of FHN's retiree medical plan assets at December 31, 2014 and December 31, 2013 by asset category are as follows: | |||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 425 | $ | - | $ | - | $ | 425 | ||||||||||||
Mutual funds: | ||||||||||||||||||||
Equity mutual funds | 9,627 | - | - | 9,627 | ||||||||||||||||
Fixed income mutual funds | 6,587 | - | - | 6,587 | ||||||||||||||||
Total | $ | 16,639 | $ | - | $ | - | $ | 16,639 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash equivalents and money market funds | $ | 600 | $ | - | $ | - | $ | 600 | ||||||||||||
Equity securities: | ||||||||||||||||||||
U.S. small capital | 1,613 | - | - | 1,613 | ||||||||||||||||
Mutual funds: | ||||||||||||||||||||
Equity mutual funds | 9,102 | - | - | 9,102 | ||||||||||||||||
Fixed income mutual funds | 4,511 | - | - | 4,511 | ||||||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasuries | - | 119 | - | 119 | ||||||||||||||||
Corporate and foreign bonds | - | 415 | - | 415 | ||||||||||||||||
Total | $ | 15,826 | $ | 534 | $ | - | $ | 16,360 | ||||||||||||
The number of shares of FHN common stock held by the qualified pension plan was 792,607 for 2014 and 2013. |
Stock_Options_Restricted_Stock1
Stock Options, Restricted Stock Incentive, and Dividend Reinvestment Plans (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Employee Benefits And Share Based Compensation [Abstract] | |||||||||||
Schedule Of Restricted And Performance Stock And Unit Activity | The summary of restricted and performance stock and unit activity during the year ended December 31, 2014, is presented below: | ||||||||||
Shares/Units | Weighted average grant date fair value | ||||||||||
Nonvested on January 1, 2014 | 4,174,196 | $ | 10.51 | ||||||||
Shares/units granted | 874,242 | 11.62 | |||||||||
Shares/units vested | -1,402,901 | 11.02 | |||||||||
Shares/units cancelled | -290,392 | 11.35 | |||||||||
Nonvested on December 31, 2014 | 3,355,145 | $ | 10.51 | ||||||||
The weighted average grant date fair value for shares/units granted in 2013 and 2012 was $10.63 and $9.25, respectively. | |||||||||||
Summary Of Stock Option Plans Activity | The summary of stock option activity for the year ended December 31, 2014, is shown below: | ||||||||||
Options Outstanding | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term (years) | Aggregate Intrinsic Value (thousands) | ||||||||
1-Jan-14 | 8,593,175 | $ | 19.29 | ||||||||
Options granted | 592,551 | 11.77 | |||||||||
Options exercised | -199,880 | 10.74 | |||||||||
Options expired/cancelled | -1,194,739 | 30.78 | |||||||||
31-Dec-14 | 7,791,107 | 17.18 | 3.89 | $ | 11,826 | ||||||
Options exercisable | 5,820,652 | 19.34 | 3.56 | 6,376 | |||||||
Options expected to vest | 1,970,455 | 10.81 | 4.88 | 5,449 | |||||||
Summary Of Assumptions To Estimate The Fair Value Of Stock Options Granted | FHN used the Black-Scholes Option Pricing Model to estimate the fair value of stock options granted in 2014, 2013, and 2012 with the following assumptions: | ||||||||||
2014 | 2013 | 2012 | |||||||||
Expected dividend yield | 1.70% | 1.84% | 0.42% | ||||||||
Expected weighted-average lives of options granted | 6.15 years | 6.12 years | 6.11 years | ||||||||
Expected weighted-average volatility | 33.79% | 36.19% | 42.40% | ||||||||
Expected volatility range | 24.55-61.49% | 27.27 - 62.98% | 35.80 - 62.21% | ||||||||
Risk-free interest rate | 1.96% | 1.16% | 1.10% |
Business_Segment_Information_T
Business Segment Information (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Business Segment Information [Abstract] | |||||||||||
Amounts Of Consolidated Revenue, Expense, Tax And Assets | (Dollars in thousands) | 2014 | 2013 | 2012 | |||||||
Consolidated | Net interest income | $ | 627,718 | $ | 637,374 | $ | 688,667 | ||||
Provision for loan losses | 27,000 | 55,000 | 78,000 | ||||||||
Noninterest income | 550,044 | 584,577 | 671,329 | ||||||||
Noninterest expense | 841,211 | 1,158,601 | 1,383,701 | ||||||||
Income/(loss) before income taxes | 309,551 | 8,350 | -101,705 | ||||||||
Provision/(benefit) for income taxes | 78,501 | -32,169 | -85,262 | ||||||||
Income/(loss) from continuing operations | 231,050 | 40,519 | -16,443 | ||||||||
Income/(loss) from discontinued operations, net of tax | - | 548 | 148 | ||||||||
Net income/(loss) | $ | 231,050 | $ | 41,067 | $ | -16,295 | |||||
Average assets | $ | 23,998,985 | $ | 24,409,656 | $ | 25,053,304 | |||||
Depreciation and amortization | $ | 56,896 | $ | 71,616 | $ | 117,972 | |||||
Expenditures for long-lived assets | 38,880 | 41,463 | 21,862 | ||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Regional Banking | Net interest income | $ | 602,066 | $ | 591,308 | $ | 605,460 | ||||
Provision/(provision credit) for loan losses | 29,187 | 18,460 | -898 | ||||||||
Noninterest income | 254,697 | 247,718 | 253,422 | ||||||||
Noninterest expense | 540,846 | 531,808 | 572,905 | ||||||||
Income/(loss) before income taxes | 286,730 | 288,758 | 286,875 | ||||||||
Provision/(benefit) for income taxes | 102,027 | 103,970 | 104,171 | ||||||||
Net income/(loss) | $ | 184,703 | $ | 184,788 | $ | 182,704 | |||||
Average assets | $ | 13,275,428 | $ | 12,877,329 | $ | 12,658,617 | |||||
Depreciation and amortization | $ | 38,271 | $ | 46,864 | $ | 73,720 | |||||
Expenditures for long-lived assets | 30,833 | 34,764 | 17,617 | ||||||||
Capital Markets | Net interest income | $ | 12,697 | $ | 16,177 | $ | 20,746 | ||||
Noninterest income | 202,723 | 268,435 | 334,990 | ||||||||
Noninterest expense | 146,828 | 232,415 | 262,971 | ||||||||
Income/(loss) before income taxes | 68,592 | 52,197 | 92,765 | ||||||||
Provision/(benefit) for income taxes | 25,751 | 19,619 | 35,054 | ||||||||
Net income/(loss) | $ | 42,841 | $ | 32,578 | $ | 57,711 | |||||
Average assets | $ | 2,068,967 | $ | 2,255,281 | $ | 2,296,549 | |||||
Depreciation and amortization | $ | 6,133 | $ | 8,666 | $ | 20,904 | |||||
Expenditures for long-lived assets | 1,295 | 3,987 | 1,851 | ||||||||
Corporate | Net interest income/(expense) | $ | -54,126 | $ | -46,127 | $ | -35,908 | ||||
Noninterest income | 26,967 | 26,055 | 27,007 | ||||||||
Noninterest expense | 70,453 | 75,263 | 99,438 | ||||||||
Income/(loss) before income taxes | -97,612 | -95,335 | -108,339 | ||||||||
Provision/(benefit) for income taxes | -69,341 | -64,463 | -80,880 | ||||||||
Net income/(loss) | $ | -28,271 | $ | -30,872 | $ | -27,459 | |||||
Average assets | $ | 5,591,239 | $ | 5,192,411 | $ | 5,223,014 | |||||
Depreciation and amortization | $ | 10,796 | $ | 13,754 | $ | 19,072 | |||||
Expenditures for long-lived assets | 6,218 | 1,050 | 2,327 | ||||||||
Non-Strategic | Net interest income | $ | 67,081 | $ | 76,016 | $ | 98,369 | ||||
Provision for loan losses | -2,187 | 36,540 | 78,898 | ||||||||
Noninterest income | 65,657 | 42,369 | 55,910 | ||||||||
Noninterest expense | 83,084 | 319,115 | 448,387 | ||||||||
Income/(loss) before income taxes | 51,841 | -237,270 | -373,006 | ||||||||
Provision/(benefit) for income taxes | 20,064 | -91,295 | -143,607 | ||||||||
Income/(loss) from continuing operations | 31,777 | -145,975 | -229,399 | ||||||||
Income/(loss) from discontinued operations, net of tax | - | 548 | 148 | ||||||||
Net income/(loss) | $ | 31,777 | $ | -145,427 | $ | -229,251 | |||||
Average assets | $ | 3,063,351 | $ | 4,084,635 | $ | 4,875,124 | |||||
Depreciation and amortization | $ | 1,696 | $ | 2,332 | $ | 4,276 | |||||
Expenditures for long-lived assets | 534 | 1,662 | 67 | ||||||||
Certain previously reported amounts have been reclassified to agree with current presentation |
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||||
Summary Of VIEs Consolidated By FHN | The following table summarizes VIEs consolidated by FHN as of December 31, 2014 and 2013: | |||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||
On-Balance Sheet Consumer Loan Securitizations | Rabbi Trusts Used for Deferred Compensation Plans | On-Balance Sheet Consumer Loan Securitizations | Rabbi Trusts Used for Deferred Compensation Plans | |||||||||||||||||
(Dollars in thousands) | Carrying Value | Carrying Value | Carrying Value | Carrying Value | ||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 182 | N/A | $ | 1,244 | N/A | ||||||||||||||
Loans, net of unearned income | 76,772 | N/A | 100,790 | N/A | ||||||||||||||||
Less: Allowance for loan losses | 827 | N/A | 4,439 | N/A | ||||||||||||||||
Total net loans | 75,945 | N/A | 96,351 | N/A | ||||||||||||||||
Other assets | 436 | $ | 67,117 | 1,892 | $ | 64,505 | ||||||||||||||
Total assets | $ | 76,563 | $ | 67,117 | $ | 99,487 | $ | 64,505 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Term borrowings | $ | 65,612 | N/A | $ | 89,640 | N/A | ||||||||||||||
Other liabilities | 4 | $ | 50,825 | 18 | $ | 49,519 | ||||||||||||||
Total liabilities | $ | 65,616 | $ | 50,825 | $ | 89,658 | $ | 49,519 | ||||||||||||
Summary Of VIEs Not Consolidated By FHN | The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2014: | |||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships (a) (b) | $ | 46,851 | $ | - | Other assets | |||||||||||||||
New market tax credit LLCs (b) (c) | 21,648 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 364,882 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 51,613 | 62,561 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 25,904 | - | (g) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 3,881,505 | - | (h) | |||||||||||||||||
Commercial loan troubled debt restructurings (i) (j) | 47,258 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Maximum loss exposure represents $42.2 million of current investments and $4.7 million of contractual funding commitments. Only the current investment amount is included in Other assets. | ||||||||||||||||||||
A liability is not recognized as investments are written down over the life of the related tax credit. | ||||||||||||||||||||
Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||||||||||||||||||
Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. | ||||||||||||||||||||
Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $62.6 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $.6 million and $.1 million classified as MSR related to proprietary and agency residential mortgage securitizations, respectively, and $5.6 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servicing advances of $19.6 million are classified as Other assets. | ||||||||||||||||||||
Includes $519.1 million classified as Trading securities and $3.4 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $44.0 million of current receivables and $3.2 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||||||||||||||||||
A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowers’ operations. | ||||||||||||||||||||
The following table summarizes FHN's nonconsolidated VIEs as of December 31, 2013: | ||||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships (a) (b) | $ | 50,253 | $ | - | Other assets | |||||||||||||||
New market tax credit LLCs (b) (c) | 22,773 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 402,307 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 53,951 | 60,222 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 339,493 | - | (g) | |||||||||||||||||
On-balance sheet consumer loan securitizations | 22,965 | 221,193 | (h) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 3,401,539 | - | (i) | |||||||||||||||||
Short positions in agency mortgage-backed securities (f) | N/A | 854 | Trading liabilities | |||||||||||||||||
Commercial loan troubled debt restructurings (j) (k) | 62,207 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Maximum loss exposure represents $43.4 million of current investments and $6.9 million of contractual funding commitments. Only the current investment amount is included in Other assets. | ||||||||||||||||||||
A liability is not recognized as investments are written down over the life of the related tax credit. | ||||||||||||||||||||
Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||||||||||||||||||
Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. | ||||||||||||||||||||
Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $60.2 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $70.1 million and $.4 million classified as MSR related to proprietary and agency residential mortgage securitizations, respectively, and $7.2 million classified as Trading securities related to proprietary and agency residential mortgage securitizations. Aggregate servicing advances of $261.8 million are classified as Other assets. | ||||||||||||||||||||
Includes $244.2 million classified as Loans, net of unearned income which are offset by $221.2 million classified as Term borrowings. | ||||||||||||||||||||
Includes $286.9 million classified as Trading securities and $3.1 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $59.9 million of current receivables and $2.3 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||||||||||||||||||
A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowers’ operations. | ||||||||||||||||||||
Schedule Of Cash Flows Related To Loan Sales And Securitizations | ||||||||||||||||||||
For 2013, cash flows received and paid related to loan sales and securitizations where FHN had continuing involvement were as follows: | ||||||||||||||||||||
Year Ended | ||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | |||||||||||||||||||
Proceeds from initial sales | $ | 10,843 | ||||||||||||||||||
Servicing fees retained (a) | 43,563 | |||||||||||||||||||
Purchases of GNMA guaranteed mortgages | 97,684 | |||||||||||||||||||
Purchases of previously transferred financial assets (b) (c) | 287,576 | |||||||||||||||||||
Other cash flows received on retained interests | 5,482 | |||||||||||||||||||
Included servicing fees on MSR associated with loan sales and purchased MSR. | ||||||||||||||||||||
Included repurchases of delinquent and performing loans, foreclosed assets, and make-whole payments for economic losses incurred by purchaser. Also included buyouts from GSEs in order to facilitate foreclosures. | ||||||||||||||||||||
2013 includes $74.7 million of cash paid related to clean-up calls exercised by FHN. | ||||||||||||||||||||
Schedule Of Principal Amount Of Delinquent Loans, And Net Credit Losses | The principal amount of loans transferred through loan sales and securitizations and other loans managed with them in which FHN had continuing involvement, the principal amount of delinquent loans, and the net credit losses during the December 31, 2013 are as follows: | |||||||||||||||||||
Principal Amount of Residential Real Estate Loans (a) (b) (c) | Net Credit Loss | |||||||||||||||||||
Year Ended | ||||||||||||||||||||
(Dollars in thousands) | 31-Dec-13 | 31-Dec-13 | ||||||||||||||||||
Total loans managed or transferred | $ | 8,386,789 | $ | 219,925 | ||||||||||||||||
Amounts represent real estate residential loans in FHN’s portfolio, held-for-sale, and loans that have been transferred in proprietary securitizations and whole loan sales in which FHN had a retained interest other than servicing rights. Also included $39.4 million of loans transferred to GSEs with any type of retained interest other than servicing rights in 2013. | ||||||||||||||||||||
Includes $.7 billion where the principal amount is 90 days or more past due or nonaccrual. Included in this amount was $39.8 million of GNMA guaranteed mortgages in 2013. | ||||||||||||||||||||
No delinquency or net credit loss data is provided for the loans transferred to FNMA or FHLMC because these agencies retain credit risk. See Note 18 - Contingencies and Other Disclosures for discussion related to repurchase obligations for loans transferred to GSEs or private investors. | ||||||||||||||||||||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Derivatives [Abstract] | ||||||||||||||||||||
Derivatives Associated With Capital Markets Trading Activities | The following tables summarize FHN’s derivatives associated with capital markets trading activities as of December 31, 2014 and 2013: | |||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,754,939 | $ | 76,614 | $ | 3,681 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,754,939 | 3,681 | 76,614 | |||||||||||||||||
Option Contracts Purchased | 15,000 | 12 | - | |||||||||||||||||
Forwards and Futures Purchased | 884,439 | 1,383 | 459 | |||||||||||||||||
Forwards and Futures Sold | 1,175,667 | 962 | 1,576 | |||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,786,532 | $ | 76,980 | $ | 11,214 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,786,532 | 11,214 | 76,980 | |||||||||||||||||
Option Contracts Purchased | 5,000 | 9 | - | |||||||||||||||||
Forwards and Futures Purchased | 1,278,331 | 2,489 | 824 | |||||||||||||||||
Forwards and Futures Sold | 1,445,656 | 531 | 3,519 | |||||||||||||||||
Derivatives Associated With Interest Rate Risk Management Activities | The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of and for the years ended December 31, 2014 and 2013: | |||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-14 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 664,345 | $ | 26,084 | $ | 430 | $ | 577 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 664,345 | 430 | 26,584 | -577 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,654,000 | $ | 24,811 | $ | 3,910 | $ | -12,126 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,654,000 | (c) | $ | 12,272 | (d) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-13 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 759,830 | $ | 28,747 | $ | 3,670 | $ | -30,057 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 776,236 | 3,670 | 29,247 | 30,547 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,254,000 | $ | 58,226 | $ | 24,904 | $ | -61,853 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,254,000 | (c) | $ | 61,853 | (d) | ||||||||||||
Gains/losses included in the Other expense section of the Consolidated Statements of Income. | ||||||||||||||||||||
Gains/losses included in the All other income and commissions section of the Consolidated Statements of Income. | ||||||||||||||||||||
Represents par value of term borrowings being hedged. | ||||||||||||||||||||
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. | ||||||||||||||||||||
Schedule Of Derivative Activities Associated With Trust Preferred Loans | The following tables summarize FHN’s derivative activities associated with held-to-maturity trust preferred loans as of and for the years ended December 31, 2014 and 2013: | |||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-14 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 744 | $ | 262 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -259 | (c) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-13 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 1,006 | $ | 1,037 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -1,032 | (c) | ||||||||||||
Assets included in the Loans, net of unearned income section of the Consolidated Statements of Condition. | ||||||||||||||||||||
Represents principal balance being hedged. | ||||||||||||||||||||
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. | ||||||||||||||||||||
Derivatives Associated With Legacy Mortgage Servicing Activities | The following table summarizes FHN’s derivatives associated with legacy mortgage servicing activities as of and for the year ended December 31, 2013: | |||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Dec-13 | ||||||||||||||||
Retained Interests Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Forwards and Futures | $ | - | $ | - | $ | - | $ | -3,047 | ||||||||||||
Interest Rate Swaps and Swaptions | - | - | - | -4,275 | ||||||||||||||||
Hedged Items: | ||||||||||||||||||||
Mortgage Servicing Rights | N/A | $ | 70,492 | N/A | $ | 21,591 | ||||||||||||||
Other Retained Interests | N/A | 7,195 | N/A | 3,813 | ||||||||||||||||
Derivative Assets And Collateral Received | ||||||||||||||||||||
The following table provides a detail of derivative assets and collateral received as presented on the Consolidated Statements of Condition as of December 31: | ||||||||||||||||||||
Gross amounts not offset in the | ||||||||||||||||||||
Statement of Condition | ||||||||||||||||||||
Gross amounts | Net amounts of | Derivative | ||||||||||||||||||
Gross amounts | offset in the | assets presented | liabilities | |||||||||||||||||
of recognized | Statement of | in the Statement | available for | Collateral | ||||||||||||||||
(Dollars in thousands) | assets | Condition | of Condition (a) | offset | Received | Net amount | ||||||||||||||
Derivative assets: | ||||||||||||||||||||
2014 (b) | $ | 131,731 | $ | - | $ | 131,731 | $ | -15,768 | $ | -114,230 | $ | 1,733 | ||||||||
2013 (b) | 178,837 | - | 178,837 | -68,216 | -110,621 | - | ||||||||||||||
Included in Derivative Assets on the Consolidated Statements of Condition. As of December 31, 2014 and 2013, $2.4 million and $3.0 million, respectively, of derivative assets (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. | ||||||||||||||||||||
2014 and 2013 are comprised entirely of interest rate derivative contracts. | ||||||||||||||||||||
Derivative Liabilities and Collateral Pledged | ||||||||||||||||||||
The following table provides a detail of derivative liabilities and collateral pledged as presented on the Consolidated Statements of Condition as of December 31: | ||||||||||||||||||||
Gross amounts not offset in the | ||||||||||||||||||||
Statement of Condition | ||||||||||||||||||||
Gross amounts | Net amounts of | |||||||||||||||||||
Gross amounts | offset in the | liabilities presented | Derivative | |||||||||||||||||
of recognized | Statement of | in the Statement | assets available | Collateral | ||||||||||||||||
(Dollars in thousands) | liabilities | Condition | of Condition (a) | for offset | pledged | Net amount | ||||||||||||||
Derivative liabilities: | ||||||||||||||||||||
2014 (b) | $ | 111,963 | $ | - | $ | 111,963 | $ | -15,768 | $ | -78,390 | $ | 17,805 | ||||||||
2013 (b) | 147,021 | - | 147,021 | -68,216 | -59,999 | 18,806 | ||||||||||||||
Included in Derivative Liabilities on the Consolidated Statements of Condition. As of December 31, 2014 and 2013, $7.3 million of derivative liabilities (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. | ||||||||||||||||||||
2014 and 2013 are comprised entirely of interest rate derivative contracts. | ||||||||||||||||||||
Master_Netting_And_Similar_Agr1
Master Netting And Similar Agreements (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Master Netting And Similar Agreements [Abstract] | |||||||||||||||||||
Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties [Table Text Block] | The following table provides a detail of Securities purchased under agreements to resell as presented on the Consolidated Statements of Condition and collateral pledged by counterparties as of December 31: | ||||||||||||||||||
Gross amounts not offset in the | |||||||||||||||||||
Statement of Condition | |||||||||||||||||||
Gross amounts | Net amounts of | Offsetting | Securities collateral | ||||||||||||||||
Gross amounts | offset in the | assets presented | securities sold | (not recognized on | |||||||||||||||
of recognized | Statement of | in the Statement | under agreements | FHN's Statement | |||||||||||||||
(Dollars in thousands) | assets | Condition | of Condition | to repurchase | of Condition) | Net amount | |||||||||||||
Securities purchased under agreements to resell: | |||||||||||||||||||
2014 | $ | 659,154 | $ | - | $ | 659,154 | $ | -48,655 | $ | -602,403 | $ | 8,096 | |||||||
2013 | 412,614 | - | 412,614 | -8,672 | -396,855 | 7,087 | |||||||||||||
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company [Table Text Block] | The following table provides a detail of Securities sold under agreements to repurchase as presented on the Consolidated Statements of Condition and collateral pledged by FHN as of December 31: | ||||||||||||||||||
Gross amounts not offset in the | |||||||||||||||||||
Statement of Condition | |||||||||||||||||||
Gross amounts | Net amounts of | Offsetting | |||||||||||||||||
Gross amounts | offset in the | liabilities presented | securities | ||||||||||||||||
of recognized | Statement of | in the Statement | purchased under | Securities | |||||||||||||||
(Dollars in thousands) | liabilities | Condition | of Condition | agreements to resell | Collateral | Net amount | |||||||||||||
Securities sold under agreements to repurchase: | |||||||||||||||||||
2014 | $ | 562,214 | $ | - | $ | 562,214 | $ | -48,655 | $ | -513,463 | $ | 96 | |||||||
2013 | 442,789 | - | 442,789 | -8,672 | -434,008 | 109 |
Fair_Value_Of_Assets_And_Liabi1
Fair Value Of Assets And Liabilities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||
Fair Value Of Assets And Liabilities [Abstract] | |||||||||||||||||||||||||||||||
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | Recurring Fair Value Measurements | ||||||||||||||||||||||||||||||
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2014: | |||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 115,908 | $ | - | $ | 115,908 | |||||||||||||||||||||||
Government agency issued MBS | - | 330,443 | - | 330,443 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 188,632 | - | 188,632 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | 127,263 | - | 127,263 | |||||||||||||||||||||||||||
States and municipalities | - | 54,647 | - | 54,647 | |||||||||||||||||||||||||||
Trading Loans | - | 15,088 | - | 15,088 | |||||||||||||||||||||||||||
Corporate and other debt | - | 354,178 | 5 | 354,183 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | - | 2,590 | - | 2,590 | |||||||||||||||||||||||||||
Total trading securities - capital markets | - | 1,188,749 | 5 | 1,188,754 | |||||||||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||||||||
Principal only | - | - | 4,137 | 4,137 | |||||||||||||||||||||||||||
Interest only | - | - | 167 | 167 | |||||||||||||||||||||||||||
Subordinated bonds | - | - | 1,333 | 1,333 | |||||||||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 5,637 | 5,637 | |||||||||||||||||||||||||||
Loans held-for-sale | - | - | 27,910 | 27,910 | |||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||
U.S. treasuries | - | 100 | - | 100 | |||||||||||||||||||||||||||
Government agency issued MBS | - | 751,165 | - | 751,165 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 2,611,266 | - | 2,611,266 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | - | 1,807 | 1,807 | |||||||||||||||||||||||||||
States and municipalities | - | 8,705 | 1,500 | 10,205 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | 26,264 | - | - | 26,264 | |||||||||||||||||||||||||||
Total securities available-for-sale | 26,264 | 3,371,236 | 3,307 | 3,400,807 | |||||||||||||||||||||||||||
Mortgage servicing rights | - | - | 2,517 | 2,517 | |||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||
Deferred compensation assets | 25,665 | - | - | 25,665 | |||||||||||||||||||||||||||
Derivatives, forwards and futures | 2,345 | - | - | 2,345 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 131,631 | - | 131,631 | |||||||||||||||||||||||||||
Derivatives, other | - | 112 | - | 112 | |||||||||||||||||||||||||||
Total other assets | 28,010 | 131,743 | - | 159,753 | |||||||||||||||||||||||||||
Total assets | $ | 54,274 | $ | 4,691,728 | $ | 39,376 | $ | 4,785,378 | |||||||||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 286,016 | $ | - | $ | 286,016 | |||||||||||||||||||||||
Other U.S. government agencies | - | 1,958 | - | 1,958 | |||||||||||||||||||||||||||
Corporate and other debt | - | 306,341 | - | 306,341 | |||||||||||||||||||||||||||
Total trading liabilities - capital markets | - | 594,315 | - | 594,315 | |||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||
Derivatives, forwards and futures | 2,035 | - | - | 2,035 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 111,964 | - | 111,964 | |||||||||||||||||||||||||||
Derivatives, other | - | - | 5,240 | 5,240 | |||||||||||||||||||||||||||
Total other liabilities | 2,035 | 111,964 | 5,240 | 119,239 | |||||||||||||||||||||||||||
Total liabilities | $ | 2,035 | $ | 706,279 | $ | 5,240 | $ | 713,554 | |||||||||||||||||||||||
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2013: | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 70,472 | $ | - | $ | 70,472 | |||||||||||||||||||||||
Government agency issued MBS | - | 231,398 | - | 231,398 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 55,515 | - | 55,515 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | 108,265 | - | 108,265 | |||||||||||||||||||||||||||
States and municipalities | - | 30,814 | - | 30,814 | |||||||||||||||||||||||||||
Corporate and other debt | - | 297,440 | 5 | 297,445 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | - | 614 | - | 614 | |||||||||||||||||||||||||||
Total trading securities - capital markets | - | 794,518 | 5 | 794,523 | |||||||||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||||||||
Principal only | - | - | 5,110 | 5,110 | |||||||||||||||||||||||||||
Interest only | - | - | 2,085 | 2,085 | |||||||||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 7,195 | 7,195 | |||||||||||||||||||||||||||
Loans held-for-sale | - | - | 230,456 | 230,456 | |||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||
U.S. treasuries | - | 39,996 | - | 39,996 | |||||||||||||||||||||||||||
Government agency issued MBS | - | 823,689 | - | 823,689 | |||||||||||||||||||||||||||
Government agency issued CMO | - | 2,290,937 | - | 2,290,937 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | - | 2,326 | 2,326 | |||||||||||||||||||||||||||
States and municipalities | - | 13,655 | 1,500 | 15,155 | |||||||||||||||||||||||||||
Venture capital | - | - | 4,300 | 4,300 | |||||||||||||||||||||||||||
Equity, mutual funds, and other | 23,259 | - | - | 23,259 | |||||||||||||||||||||||||||
Total securities available-for-sale | 23,259 | 3,168,277 | 8,126 | 3,199,662 | |||||||||||||||||||||||||||
Mortgage servicing rights | - | - | 72,793 | 72,793 | |||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||
Deferred compensation assets | 23,880 | - | - | 23,880 | |||||||||||||||||||||||||||
Derivatives, forwards and futures | 3,020 | - | - | 3,020 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 178,846 | - | 178,846 | |||||||||||||||||||||||||||
Total other assets | 26,900 | 178,846 | - | 205,746 | |||||||||||||||||||||||||||
Total assets | $ | 50,159 | $ | 4,141,641 | $ | 318,575 | $ | 4,510,375 | |||||||||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 210,096 | $ | - | $ | 210,096 | |||||||||||||||||||||||
Government agency issued MBS | - | 854 | - | 854 | |||||||||||||||||||||||||||
Other U.S. government agencies | - | 3,900 | - | 3,900 | |||||||||||||||||||||||||||
Corporate and other debt | - | 153,498 | - | 153,498 | |||||||||||||||||||||||||||
Total trading liabilities - capital markets | - | 368,348 | - | 368,348 | |||||||||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||||||||
Derivatives, forwards and futures | 4,343 | - | - | 4,343 | |||||||||||||||||||||||||||
Derivatives, interest rate contracts | - | 147,021 | - | 147,021 | |||||||||||||||||||||||||||
Derivatives, other | - | 1 | 2,915 | 2,916 | |||||||||||||||||||||||||||
Total other liabilities | 4,343 | 147,022 | 2,915 | 154,280 | |||||||||||||||||||||||||||
Total liabilities | $ | 4,343 | $ | 515,370 | $ | 2,915 | $ | 522,628 | |||||||||||||||||||||||
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value | Changes in Recurring Level 3 Fair Value Measurements | ||||||||||||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at fair value for the twelve months ended December 31, 2014, 2013, and 2012, on a recurring basis are summarized as follows: | |||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2014 | |||||||||||||||||||||||||||||||
Securities available-for-sale | Mortgage | ||||||||||||||||||||||||||||||
Trading | Loans held- | Investment | Venture | servicing | Net derivative | ||||||||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | portfolio | Capital | rights, net | liabilities | |||||||||||||||||||||||||
Balance on January 1, 2014 | $ | 7,200 | $ | 230,456 | $ | 3,826 | $ | 4,300 | $ | 72,793 | $ | -2,915 | |||||||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||||||||
Net income | 149 | 52,494 | - | -2,995 | 1,248 | -5,981 | |||||||||||||||||||||||||
Other comprehensive income / (loss) | - | - | -64 | - | - | - | |||||||||||||||||||||||||
Purchases | 1,559 | 5,654 | - | - | - | - | |||||||||||||||||||||||||
Issuances | - | - | - | - | - | - | |||||||||||||||||||||||||
Sales | -1,715 | -236,975 | - | -5 | -70,204 | - | |||||||||||||||||||||||||
Settlements | -1,550 | -19,806 | -455 | -1,300 | -1,320 | 3,656 | |||||||||||||||||||||||||
Net transfers into/(out of) Level 3 | - | -3,913 | (b) | - | - | - | - | ||||||||||||||||||||||||
Balance on December 31, 2014 | $ | 5,643 | $ | 27,910 | $ | 3,307 | $ | - | $ | 2,517 | $ | -5,240 | |||||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 225 | (a) | $ | 1,991 | (a) | $ | - | $ | - | $ | 43 | (a) | $ | -5,981 | (c) | |||||||||||||||
Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||||||
Securities available-for-sale | Mortgage | Other | |||||||||||||||||||||||||||||
Trading | Loans held- | Investment | Venture | servicing | Net derivative | short-term | |||||||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | portfolio | Capital | rights, net | liabilities | borrowings | ||||||||||||||||||||||||
Balance on January 1, 2013 | $ | 17,992 | $ | 221,094 | $ | 5,253 | $ | 4,300 | $ | 114,311 | $ | -2,175 | $ | -11,156 | |||||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||||||||
Net income | 5,028 | -4,387 | - | - | 20,182 | -2,013 | -3 | ||||||||||||||||||||||||
Other comprehensive income /(loss) | - | - | -114 | - | - | - | - | ||||||||||||||||||||||||
Purchases | - | 69,929 | - | - | - | - | - | ||||||||||||||||||||||||
Issuances | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Sales | -7,784 | - | - | - | -39,633 | - | 11,159 | ||||||||||||||||||||||||
Settlements | -8,036 | -40,369 | -1,313 | - | -22,067 | 1,273 | - | ||||||||||||||||||||||||
Net transfers into/(out of) Level 3 | - | -15,811 | (b) | - | - | - | - | - | |||||||||||||||||||||||
Balance on December 31, 2013 | $ | 7,200 | $ | 230,456 | $ | 3,826 | $ | 4,300 | $ | 72,793 | $ | -2,915 | $ | - | |||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 1,237 | (a) | $ | -4,387 | (a) | $ | - | $ | - | $ | 17,394 | (a) | $ | 2,013 | (c) | $ | - | (a) | ||||||||||||
Twelve Months Ended December 31, 2012 | |||||||||||||||||||||||||||||||
Securities available-for-sale | Mortgage | Other | |||||||||||||||||||||||||||||
Trading | Loans held- | Investment | Venture | servicing | Net derivative | short-term | |||||||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | portfolio | capital | rights | liabilities | borrowings | ||||||||||||||||||||||||
Balance on January 1, 2012 | $ | 18,059 | $ | 210,487 | $ | 7,262 | $ | 12,179 | $ | 144,069 | $ | -11,820 | $ | -14,833 | |||||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||||||||
Net income | 3,678 | -2,618 | - | 371 | -5,075 | -1,757 | 3,677 | ||||||||||||||||||||||||
Other comprehensive income | - | - | -234 | - | - | - | - | ||||||||||||||||||||||||
Purchases | - | 60,111 | - | - | - | - | - | ||||||||||||||||||||||||
Sales | - | - | - | -8,250 | - | - | - | ||||||||||||||||||||||||
Settlements | -9,225 | -27,032 | -1,775 | - | -24,683 | 11,402 | - | ||||||||||||||||||||||||
Net transfers into/(out of) Level 3 | 5,480 | -19,854 | (b) | - | - | - | - | - | |||||||||||||||||||||||
Balance on December 31, 2012 | $ | 17,992 | $ | 221,094 | $ | 5,253 | $ | 4,300 | $ | 114,311 | $ | -2,175 | $ | -11,156 | |||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 2,084 | (a) | $ | -2,618 | (a) | $ | - | $ | -4,700 | (d) | $ | -3,957 | (a) | $ | -1,757 | (c) | $ | 3,677 | (a) | |||||||||||
Primarily included in mortgage banking income on the Consolidated Statements of Income. | |||||||||||||||||||||||||||||||
Transfers out of recurring loans held-for-sale level 3 balances reflect movements out of loans held-for-sale and into real estate acquired by foreclosure (level 3 nonrecurring). | |||||||||||||||||||||||||||||||
Included in Other expense. | |||||||||||||||||||||||||||||||
Represents recognized gains and losses attributable to venture capital investments classified within securities available-for-sale that are included in securities gains/(losses) in noninterest income. | |||||||||||||||||||||||||||||||
Nonrecurring Fair Value Measurements | Nonrecurring Fair Value Measurements | ||||||||||||||||||||||||||||||
From time to time, FHN may be required to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of LOCOM accounting or write-downs of individual assets. For assets measured at fair value on a nonrecurring basis which were still held on the balance sheet at December 31, 2014, 2013, and 2012, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment, the related carrying value, and the fair value adjustments recorded during the respective periods. | |||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Carrying value at December 31, 2014 | 31-Dec-14 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 3,322 | $ | - | $ | 3,322 | $ | 46 | |||||||||||||||||||||
Loans held-for-sale - first mortgages | - | - | 846 | 846 | -470 | ||||||||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 40,531 | 40,531 | -714 | ||||||||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 30,430 | 30,430 | -3,465 | ||||||||||||||||||||||||||
Other assets (c) | - | - | 63,821 | 63,821 | -4,559 | ||||||||||||||||||||||||||
$ | -9,162 | ||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Carrying value at December 31, 2013 | 31-Dec-13 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 6,185 | $ | - | $ | 6,185 | $ | -122 | |||||||||||||||||||||
Loans held-for-sale - first mortgages | - | - | 9,457 | 9,457 | 139 | ||||||||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 62,839 | 62,839 | -3,109 | ||||||||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 45,753 | 45,753 | -4,987 | ||||||||||||||||||||||||||
Other assets (c) | - | - | 66,128 | 66,128 | -4,902 | ||||||||||||||||||||||||||
$ | -12,981 | ||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
Carrying value at December 31, 2012 | 31-Dec-12 | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 23,902 | $ | - | $ | 23,902 | $ | 15 | |||||||||||||||||||||
Loans held-for-sale - first mortgages | - | - | 12,054 | 12,054 | -436 | ||||||||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 117,064 | 117,064 | -55,948 | ||||||||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 41,767 | 41,767 | -9,422 | ||||||||||||||||||||||||||
Other assets (c) | - | - | 76,501 | 76,501 | -8,248 | ||||||||||||||||||||||||||
$ | -74,039 | ||||||||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||||||||||||||||||||||||||||
Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||||||||||||||||||||||||||||
Represents tax credit investments. | |||||||||||||||||||||||||||||||
Schedule Of Unobservable Inputs Utilized In Determining The Fair Value Of Level 3 Recurring And Non-Recurring Measurements | Level 3 Measurements | ||||||||||||||||||||||||||||||
The following tables provide information regarding the unobservable inputs utilized in determining the fair value of level 3 recurring and non-recurring measurements as of December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||||||||
Level 3 Class | 31-Dec-14 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||||||||
Trading securities - mortgage (a) | $ | 5,637 | Discounted cash flow | Prepayment speeds | 41% - 46% | ||||||||||||||||||||||||||
Discount rate | 8% - 56% | ||||||||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 28,756 | Discounted cash flow | Prepayment speeds - First mortgage | 2% - 12% | |||||||||||||||||||||||||||
Prepayment speeds - HELOC | 5% - 15% | ||||||||||||||||||||||||||||||
Foreclosure losses | 50% - 60% | ||||||||||||||||||||||||||||||
Loss severity trends - First mortgage | 10% - 70% of UPB | ||||||||||||||||||||||||||||||
Loss severity trends - HELOC | 45% - 100% of UPB | ||||||||||||||||||||||||||||||
Draw rate - HELOC | 5% - 12% | ||||||||||||||||||||||||||||||
Mortgage servicing rights (a) | 2,517 | Discounted cash flow | Prepayment speeds | 15.2 CPR | |||||||||||||||||||||||||||
Discount rate | 9.80% | ||||||||||||||||||||||||||||||
Cost to service | $141.40/Loan | ||||||||||||||||||||||||||||||
Earnings on escrow | 1.39% | ||||||||||||||||||||||||||||||
Derivative liabilities, other | 5,240 | Discounted cash flow | Visa covered litigation resolution amount | $4.8 billion - $5.6 billion | |||||||||||||||||||||||||||
Probability of resolution scenarios | 10% - 30% | ||||||||||||||||||||||||||||||
Time until resolution | 12 - 48 months | ||||||||||||||||||||||||||||||
Loans, net of unearned income (b) | 40,531 | Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other collateral valuations | Borrowing base certificates adjustment | 20% - 50% of gross value | |||||||||||||||||||||||||||||
Financial Statements/Auction values adjustment | 0% - 25% of reported value | ||||||||||||||||||||||||||||||
Real estate acquired by foreclosure (c) | 30,430 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other assets (d) | 63,821 | Discounted cash flow | Adjustments to current sales yields for specific properties | 0% - 15% adjustment to yield | |||||||||||||||||||||||||||
Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 25% of appraisal | |||||||||||||||||||||||||||||
The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph. | |||||||||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||||||||||||||||||||||||||||
Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||||||||||||||||||||||||||||
Represents tax credit investments. | |||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||||||||
Level 3 Class | 31-Dec-13 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||||||||
Trading securities - mortgage (a) | $ | 7,195 | Discounted cash flow | Prepayment speeds | 38% - 45% | ||||||||||||||||||||||||||
Discount rate | NM | ||||||||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 239,913 | Discounted cash flow | Prepayment speeds - First mortgage | 6% - 10% | |||||||||||||||||||||||||||
Prepayment speeds - HELOC | 3% - 12% | ||||||||||||||||||||||||||||||
Credit spreads | 2% - 4% | ||||||||||||||||||||||||||||||
Delinquency adjustment factor | 15% - 25% added to credit spread | ||||||||||||||||||||||||||||||
Loss severity trends - First mortgage | 50% - 60% of UPB | ||||||||||||||||||||||||||||||
Loss severity trends - HELOC | 35% - 100% of UPB | ||||||||||||||||||||||||||||||
Draw Rate - HELOC | 2% - 11% | ||||||||||||||||||||||||||||||
Venture capital investments | 4,300 | Industry comparables | Adjustment for minority interest and small business status | 40% - 50% discount | |||||||||||||||||||||||||||
Discounted cash flow | Discount rate | 25% - 30% | |||||||||||||||||||||||||||||
Earnings capitalization rate | 20% - 25% | ||||||||||||||||||||||||||||||
Mortgage servicing rights (a) | 72,793 | Discounted cash flow | Prepayment speeds | 19.7 CPR | |||||||||||||||||||||||||||
Discount rate | 8.60% | ||||||||||||||||||||||||||||||
Cost to service | $162.00/Loan | ||||||||||||||||||||||||||||||
Earnings on escrow | 1.39% | ||||||||||||||||||||||||||||||
Derivative liabilities, other | 2,915 | Discounted cash flow | Visa covered litigation resolution amount | $4.4 billion - $5.0 billion | |||||||||||||||||||||||||||
Probability of resolution scenarios | 15% - 45% | ||||||||||||||||||||||||||||||
Time until resolution | 6 - 30 months | ||||||||||||||||||||||||||||||
Loans, net of unearned income (b) | 62,839 | Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other collateral valuations | Borrowing base certificates adjustment | 20% - 50% of gross value | |||||||||||||||||||||||||||||
Financial Statements/Auction Values adjustment | 0% - 25% of reported value | ||||||||||||||||||||||||||||||
Real estate acquired by foreclosure (c) | 45,753 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||||||||
Other assets (d) | 66,128 | Discounted cash flow | Adjustments to current sales yields for specific properties | 0% - 15% adjustment to yield | |||||||||||||||||||||||||||
Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 25% of appraisal | |||||||||||||||||||||||||||||
NM – not meaningful | |||||||||||||||||||||||||||||||
The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph. | |||||||||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||||||||||||||||||||||||||||
Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||||||||||||||||||||||||||||
Represents tax credit investments. | |||||||||||||||||||||||||||||||
Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount | The following tables reflect the differences between the fair value carrying amount of residential real estate loans held-for-sale measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity. | ||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value carrying amount | Aggregate unpaid principal | Fair value carrying amount less aggregate unpaid principal | ||||||||||||||||||||||||||||
Residential real estate loans held-for-sale reported at fair value: | |||||||||||||||||||||||||||||||
Total loans | $ | 27,910 | $ | 43,822 | $ | -15,912 | |||||||||||||||||||||||||
Nonaccrual loans | 7,430 | 14,316 | -6,886 | ||||||||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 2,587 | 4,000 | -1,413 | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value carrying amount | Aggregate unpaid principal | Fair value carrying amount less aggregate unpaid principal | ||||||||||||||||||||||||||||
Residential real estate loans held-for-sale reported at fair value: | |||||||||||||||||||||||||||||||
Total loans | $ | 230,456 | $ | 378,326 | $ | -147,870 | |||||||||||||||||||||||||
Nonaccrual loans | 64,231 | 137,301 | -73,070 | ||||||||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 7,765 | 15,854 | -8,089 | ||||||||||||||||||||||||||||
Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings | Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table: | ||||||||||||||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||||||||||||||
31-Dec | |||||||||||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||
Changes in fair value included in net income: | |||||||||||||||||||||||||||||||
Mortgage banking noninterest income | |||||||||||||||||||||||||||||||
Loans held-for-sale | $ | 52,494 | $ | -4,387 | $ | -2,618 | |||||||||||||||||||||||||
Other short-term borrowings | - | -3 | 3,677 | ||||||||||||||||||||||||||||
Summary Of Book Value And Estimated Fair Value Of Financial Instruments | The following tables summarize the book value and estimated fair value of financial instruments recorded in the Consolidated Statements of Condition as well as unfunded commitments as of December 31, 2014 and 2013. | ||||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||||
Book | Fair Value | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||
Loans, net of unearned income and allowance for loan losses | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||
Commercial, financial and industrial | $ | 8,940,275 | $ | - | $ | - | $ | 8,902,045 | $ | 8,902,045 | |||||||||||||||||||||
Commercial real estate | 1,259,143 | - | - | 1,243,404 | 1,243,404 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||||
Consumer real estate | 4,935,060 | - | - | 4,747,761 | 4,747,761 | ||||||||||||||||||||||||||
Permanent mortgage | 519,839 | - | - | 483,179 | 483,179 | ||||||||||||||||||||||||||
Credit card & other | 343,401 | - | - | 345,198 | 345,198 | ||||||||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 15,997,718 | - | - | 15,721,587 | 15,721,587 | ||||||||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||||||||
Interest-bearing cash | 1,621,967 | 1,621,967 | - | - | 1,621,967 | ||||||||||||||||||||||||||
Federal funds sold | 63,080 | - | 63,080 | - | 63,080 | ||||||||||||||||||||||||||
Securities purchased under agreements to resell | 659,154 | - | 659,154 | - | 659,154 | ||||||||||||||||||||||||||
Total short-term financial assets | 2,344,201 | 1,621,967 | 722,234 | - | 2,344,201 | ||||||||||||||||||||||||||
Trading securities (a) | 1,194,391 | - | 1,188,749 | 5,642 | 1,194,391 | ||||||||||||||||||||||||||
Loans held-for-sale (a) | 141,285 | - | 3,322 | 137,963 | 141,285 | ||||||||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,556,613 | 26,264 | 3,371,236 | 159,113 | 3,556,613 | ||||||||||||||||||||||||||
Securities held-to-maturity | 4,292 | - | - | 5,404 | 5,404 | ||||||||||||||||||||||||||
Derivative assets (a) | 134,088 | 2,345 | 131,743 | - | 134,088 | ||||||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||||
Tax credit investments | 63,821 | - | - | 63,821 | 63,821 | ||||||||||||||||||||||||||
Deferred compensation assets | 25,665 | 25,665 | - | - | 25,665 | ||||||||||||||||||||||||||
Total other assets | 89,486 | 25,665 | - | 63,821 | 89,486 | ||||||||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||||||||
Cash & due from banks | 349,171 | 349,171 | - | - | 349,171 | ||||||||||||||||||||||||||
Capital markets receivables | 42,488 | - | 42,488 | - | 42,488 | ||||||||||||||||||||||||||
Accrued interest receivable | 67,301 | - | 67,301 | - | 67,301 | ||||||||||||||||||||||||||
Total nonearning assets | 458,960 | 349,171 | 109,789 | - | 458,960 | ||||||||||||||||||||||||||
Total assets | $ | 23,921,034 | $ | 2,025,412 | $ | 5,527,073 | $ | 16,093,530 | $ | 23,646,015 | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||
Defined maturity | $ | 1,276,938 | $ | - | $ | 1,282,833 | $ | - | $ | 1,282,833 | |||||||||||||||||||||
Undefined maturity | 16,792,001 | - | 16,792,001 | - | 16,792,001 | ||||||||||||||||||||||||||
Total deposits | 18,068,939 | - | 18,074,834 | - | 18,074,834 | ||||||||||||||||||||||||||
Trading liabilities (a) | 594,314 | - | 594,315 | - | 594,315 | ||||||||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||||||||
Federal funds purchased | 1,037,052 | - | 1,037,052 | - | 1,037,052 | ||||||||||||||||||||||||||
Securities sold under agreements to repurchase | 562,214 | - | 562,214 | - | 562,214 | ||||||||||||||||||||||||||
Other short-term borrowings | 157,218 | - | 157,218 | - | 157,218 | ||||||||||||||||||||||||||
Total short-term financial liabilities | 1,756,484 | - | 1,756,484 | - | 1,756,484 | ||||||||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||||||||
Real estate investment trust-preferred | 45,896 | - | - | 49,350 | 49,350 | ||||||||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 18,049 | 18,049 | ||||||||||||||||||||||||||
Borrowings secured by residential real estate | 65,612 | - | - | 56,623 | 56,623 | ||||||||||||||||||||||||||
Other long term borrowings | 1,750,597 | - | 1,730,061 | - | 1,730,061 | ||||||||||||||||||||||||||
Total term borrowings | 1,880,105 | - | 1,730,061 | 124,022 | 1,854,083 | ||||||||||||||||||||||||||
Derivative liabilities (a) | 119,239 | 2,035 | 111,964 | 5,240 | 119,239 | ||||||||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||||||||
Capital markets payables | 18,157 | - | 18,157 | - | 18,157 | ||||||||||||||||||||||||||
Accrued interest payable | 23,995 | - | 23,995 | - | 23,995 | ||||||||||||||||||||||||||
Total other noninterest-bearing liabilities | 42,152 | - | 42,152 | - | 42,152 | ||||||||||||||||||||||||||
Total liabilities | $ | 22,461,233 | $ | 2,035 | $ | 22,309,810 | $ | 129,262 | $ | 22,441,107 | |||||||||||||||||||||
Classes are detailed in the recurring and nonrecurring measurement tables. | |||||||||||||||||||||||||||||||
Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. | |||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||
Book | Fair Value | ||||||||||||||||||||||||||||||
(Dollars in thousands) | Value | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||
Loans, net of unearned income and allowance for loan losses | |||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||
Commercial, financial and industrial | $ | 7,837,130 | $ | - | $ | - | $ | 7,759,902 | $ | 7,759,902 | |||||||||||||||||||||
Commercial real estate | 1,122,676 | - | - | 1,075,385 | 1,075,385 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||||
Consumer real estate | 5,206,586 | - | - | 4,858,031 | 4,858,031 | ||||||||||||||||||||||||||
Permanent mortgage | 639,751 | - | - | 606,038 | 606,038 | ||||||||||||||||||||||||||
Credit card & other | 329,122 | - | - | 331,088 | 331,088 | ||||||||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 15,135,265 | - | - | 14,630,444 | 14,630,444 | ||||||||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||||||||
Interest-bearing cash | 730,297 | 730,297 | - | - | 730,297 | ||||||||||||||||||||||||||
Federal funds sold | 66,079 | - | 66,079 | - | 66,079 | ||||||||||||||||||||||||||
Securities purchased under agreements to resell | 412,614 | - | 412,614 | - | 412,614 | ||||||||||||||||||||||||||
Total short-term financial assets | 1,208,990 | 730,297 | 478,693 | - | 1,208,990 | ||||||||||||||||||||||||||
Trading securities (a) | 801,718 | - | 794,518 | 7,200 | 801,718 | ||||||||||||||||||||||||||
Loans held-for-sale (a) | 370,152 | - | 6,185 | 363,967 | 370,152 | ||||||||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,398,457 | 23,259 | 3,168,277 | 206,921 | 3,398,457 | ||||||||||||||||||||||||||
Derivative assets (a) | 181,866 | 3,020 | 178,846 | - | 181,866 | ||||||||||||||||||||||||||
Other assets | |||||||||||||||||||||||||||||||
Tax credit investments | 66,128 | - | - | 66,128 | 66,128 | ||||||||||||||||||||||||||
Deferred compensation assets | 23,880 | 23,880 | - | - | 23,880 | ||||||||||||||||||||||||||
Total other assets | 90,008 | 23,880 | - | 66,128 | 90,008 | ||||||||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||||||||
Cash & due from banks | 349,216 | 349,216 | - | - | 349,216 | ||||||||||||||||||||||||||
Capital markets receivables | 45,255 | - | 45,255 | - | 45,255 | ||||||||||||||||||||||||||
Accrued interest receivable | 69,208 | - | 69,208 | - | 69,208 | ||||||||||||||||||||||||||
Total nonearning assets | 463,679 | 349,216 | 114,463 | - | 463,679 | ||||||||||||||||||||||||||
Total assets | $ | 21,650,135 | $ | 1,129,672 | $ | 4,740,982 | $ | 15,274,660 | $ | 21,145,314 | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||||||||
Defined maturity | $ | 1,505,712 | $ | - | $ | 1,520,950 | $ | - | $ | 1,520,950 | |||||||||||||||||||||
Undefined maturity | 15,229,244 | - | 15,229,244 | - | 15,229,244 | ||||||||||||||||||||||||||
Total deposits | 16,734,956 | - | 16,750,194 | - | 16,750,194 | ||||||||||||||||||||||||||
Trading liabilities (a) | 368,348 | - | 368,348 | - | 368,348 | ||||||||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||||||||
Federal funds purchased | 1,042,633 | - | 1,042,633 | - | 1,042,633 | ||||||||||||||||||||||||||
Securities sold under agreements to repurchase | 442,789 | - | 442,789 | - | 442,789 | ||||||||||||||||||||||||||
Other short-term borrowings | 181,146 | - | 181,146 | - | 181,146 | ||||||||||||||||||||||||||
Total short-term financial liabilities | 1,666,568 | - | 1,666,568 | - | 1,666,568 | ||||||||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||||||||
Real estate investment trust-preferred | 45,828 | - | - | 47,000 | 47,000 | ||||||||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 17,685 | 17,685 | ||||||||||||||||||||||||||
Borrowings secured by residential real estate | 310,833 | - | - | 268,249 | 268,249 | ||||||||||||||||||||||||||
Other long term borrowings | 1,365,198 | - | 1,372,646 | - | 1,372,646 | ||||||||||||||||||||||||||
Total term borrowings | 1,739,859 | - | 1,372,646 | 332,934 | 1,705,580 | ||||||||||||||||||||||||||
Derivative liabilities (a) | 154,280 | 4,343 | 147,022 | 2,915 | 154,280 | ||||||||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||||||||
Capital markets payables | 21,173 | - | 21,173 | - | 21,173 | ||||||||||||||||||||||||||
Accrued interest payable | 23,813 | - | 23,813 | - | 23,813 | ||||||||||||||||||||||||||
Total other noninterest-bearing liabilities | 44,986 | - | 44,986 | - | 44,986 | ||||||||||||||||||||||||||
Total liabilities | $ | 20,708,997 | $ | 4,343 | $ | 20,349,764 | $ | 335,849 | $ | 20,689,956 | |||||||||||||||||||||
Classes are detailed in the recurring and nonrecurring measurement tables. | |||||||||||||||||||||||||||||||
Level 3 includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0 million. | |||||||||||||||||||||||||||||||
Contractual Amount | Fair Value | ||||||||||||||||||||||||||||||
(Dollars in thousands) | 31-Dec-14 | 31-Dec-13 | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Unfunded Commitments: | |||||||||||||||||||||||||||||||
Loan commitments | $ | 7,309,137 | $ | 7,469,553 | $ | 2,358 | $ | 1,923 | |||||||||||||||||||||||
Standby and other commitments | 331,877 | 318,149 | 4,451 | 4,653 | |||||||||||||||||||||||||||
Certain previously reported amounts have been reclassified to agree with current presentation. |
Restructuring_Repositioning_An1
Restructuring, Repositioning, And Efficiency (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ||||||||||||||||||||
Schedule Of Restructuring And Repositioning Liability | Activity in the restructuring and repositioning liability for the years ended December 31, 2014, 2013, and 2012 is presented in the following table, along with other restructuring and repositioning expenses recognized. | |||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Dollars in thousands) | Expense | Liability | Expense | Liability | Expense | Liability | ||||||||||||||
Beginning balance | $ | 3,126 | $ | 19,775 | $ | 12,026 | ||||||||||||||
Severance and other employee related costs | $ | 2,641 | 2,641 | $ | 3,691 | 3,691 | $ | 22,897 | 22,897 | |||||||||||
Facility consolidation costs | 4,696 | 4,696 | 131 | 131 | 46 | 46 | ||||||||||||||
Other exit costs, professional fees, and other | - | - | - | - | 111 | 111 | ||||||||||||||
Total accrued | 7,337 | 10,463 | 3,822 | 23,597 | 23,054 | 35,080 | ||||||||||||||
Payments related to: | ||||||||||||||||||||
Severance and other employee related costs | 2,678 | 19,051 | 12,138 | |||||||||||||||||
Facility consolidation costs | 1,067 | 677 | 1,884 | |||||||||||||||||
Other exit costs, professional fees, and other | - | - | 15 | |||||||||||||||||
Accrual reversals | 30 | 743 | 1,268 | |||||||||||||||||
Restructuring and repositioning reserve balance | $ | 6,688 | $ | 3,126 | $ | 19,775 | ||||||||||||||
Other restructuring and repositioning expense: | ||||||||||||||||||||
Mortgage banking expense on servicing sales | -553 | 2,192 | 2,635 | |||||||||||||||||
(Gains)/losses on divestitures | - | -1,000 | -865 | |||||||||||||||||
Impairment of premises and equipment | 222 | 385 | 22 | |||||||||||||||||
Impairment of other assets | - | - | 12 | |||||||||||||||||
Other | - | -96 | - | |||||||||||||||||
Total other restructuring and repositioning expense | -331 | 1,481 | 1,804 | |||||||||||||||||
Total restructuring and repositioning charges | $ | 7,006 | $ | 5,303 | $ | 24,858 | ||||||||||||||
Schedule Of Cumulative Costs Associated With Restructuring, Repositioning, And Efficiency Initiatives | ||||||||||||||||||||
FHN began initiatives related to restructuring in second quarter 2007. The following table presents cumulative amounts incurred to date through December 31, 2014, for costs associated with FHN’s restructuring, repositioning, and efficiency initiatives: | ||||||||||||||||||||
(Dollars in thousands) | Total Expense | |||||||||||||||||||
Severance and other employee related costs | $ | 107,025 | ||||||||||||||||||
Facility consolidation costs | 45,523 | |||||||||||||||||||
Other exit costs, professional fees, and other | 19,165 | |||||||||||||||||||
Other restructuring and repositioning expense: | ||||||||||||||||||||
Loan portfolio divestiture | 7,672 | |||||||||||||||||||
Mortgage banking expense on servicing sales | 25,449 | |||||||||||||||||||
(Gains)/losses on divestitures | -718 | |||||||||||||||||||
Impairment of premises and equipment | 23,004 | |||||||||||||||||||
Impairment of intangible assets | 48,231 | |||||||||||||||||||
Impairment of other assets | 40,504 | |||||||||||||||||||
Other | 7,478 | |||||||||||||||||||
Total restructuring and repositioning charges incurred to date as of December 31, 2014 | $ | 323,333 |
Parent_Company_Financial_Infor1
Parent Company Financial Information (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |||||||||||
Schedule Of Condensed Statements Of Condition | Following are condensed statements of the parent company: | ||||||||||
Statements of Condition | Year Ended December 31 | ||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||
Assets: | |||||||||||
Cash | $ | 167,562 | $ | 81,271 | |||||||
Interest-bearing cash | - | 15,800 | |||||||||
Securities available-for-sale | 2,634 | 1,643 | |||||||||
Notes receivable | 3,460 | 3,610 | |||||||||
Allowance for loan losses | -925 | -925 | |||||||||
Investments in subsidiaries: | |||||||||||
Bank | 3,066,534 | 3,040,499 | |||||||||
Non-bank | 17,870 | 18,044 | |||||||||
Other assets | 195,898 | 207,498 | |||||||||
Total assets | $ | 3,453,033 | $ | 3,367,440 | |||||||
Liabilities and equity: | |||||||||||
Other short-term borrowings | $ | 3,000 | $ | - | |||||||
Accrued employee benefits and other liabilities | 138,233 | 158,091 | |||||||||
Term borrowings | 720,832 | 708,598 | |||||||||
Total liabilities | 862,065 | 866,689 | |||||||||
Total equity | 2,590,968 | 2,500,751 | |||||||||
Total liabilities and equity | $ | 3,453,033 | $ | 3,367,440 | |||||||
Schedule Of Condensed Statements of Income | |||||||||||
Statements of Income | Year Ended December 31 | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Dividend income: | |||||||||||
Bank | $ | 180,000 | $ | 180,000 | $ | 100,000 | |||||
Non-bank | 446 | 957 | 390 | ||||||||
Total dividend income | 180,446 | 180,957 | 100,390 | ||||||||
Interest income | 2 | 125 | 329 | ||||||||
Other income | 6,265 | 3,468 | 1,050 | ||||||||
Total income | 186,713 | 184,550 | 101,769 | ||||||||
Provision/(provision credit) for loan losses | - | -925 | -1,850 | ||||||||
Interest expense: | |||||||||||
Short-term debt | 9 | 20 | 50 | ||||||||
Term borrowings | 23,808 | 24,058 | 24,365 | ||||||||
Total interest expense | 23,817 | 24,078 | 24,415 | ||||||||
Compensation, employee benefits and other expense | 30,400 | 37,490 | 40,286 | ||||||||
Total expense | 54,217 | 60,643 | 62,851 | ||||||||
Income/(loss) before income taxes | 132,496 | 123,907 | 38,918 | ||||||||
Income tax benefit | -20,599 | -20,897 | -23,653 | ||||||||
Income/(loss) before equity in undistributed net income of subsidiaries | 153,095 | 144,804 | 62,571 | ||||||||
Equity in undistributed net income/(loss) of subsidiaries: | |||||||||||
Bank | 65,840 | -114,902 | -90,769 | ||||||||
Non-bank | 588 | -300 | 439 | ||||||||
Net income/(loss) attributable to the controlling interest | $ | 219,523 | $ | 29,602 | $ | -27,759 | |||||
Schedule Of Condensed Statements Of Cash Flows | |||||||||||
Statements of Cash Flows | Year Ended December 31 | ||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | ||||||||
Operating activities: | |||||||||||
Net income/(loss) | $ | 219,523 | $ | 29,602 | $ | -27,759 | |||||
Less undistributed net income/(loss) of subsidiaries | 66,428 | -115,202 | -90,330 | ||||||||
Income/(loss) before undistributed net income of subsidiaries | 153,095 | 144,804 | 62,571 | ||||||||
Adjustments to reconcile income to net cash provided by operating activities: | |||||||||||
Depreciation, amortization, and other | -390 | -1,314 | -2,335 | ||||||||
Loss on securities | -5,736 | -2,182 | - | ||||||||
Stock-based compensation expense | 11,351 | 16,144 | 16,201 | ||||||||
Net (increase)/decrease in interest receivable and other assets | -1,836 | -4,959 | -14,945 | ||||||||
Net (decrease)/increase in interest payable and other liabilities | 1,505 | 8,626 | 1,599 | ||||||||
Total adjustments | 4,894 | 16,315 | 520 | ||||||||
Net cash provided/(used) by operating activities | 157,989 | 161,119 | 63,091 | ||||||||
Investing activities: | |||||||||||
Securities: | |||||||||||
Sales and prepayments | 4,693 | 599 | 512 | ||||||||
Purchases | -40 | -120 | -180 | ||||||||
Premises and equipment: | |||||||||||
Purchases | -20 | -63 | -225 | ||||||||
Decrease/(increase) in interest-bearing cash | 15,800 | 64,200 | 85,000 | ||||||||
Return on investment in subsidiary | 150 | 90 | - | ||||||||
Net cash provided/(used) by investing activities | 20,583 | 64,706 | 85,107 | ||||||||
Financing activities: | |||||||||||
Preferred stock: | |||||||||||
Proceeds from issuance of preferred stock | - | 95,624 | - | ||||||||
Cash dividends | -6,200 | -4,288 | - | ||||||||
Common stock: | |||||||||||
Exercise of stock options | 1,864 | 651 | 144 | ||||||||
Cash dividends | -47,366 | -38,229 | -10,066 | ||||||||
Repurchase of shares | -43,579 | -91,533 | -133,757 | ||||||||
Term borrowings: | |||||||||||
Repayment of term borrowings | - | -100,000 | - | ||||||||
Increase/(decrease) in short-term borrowings | 3,000 | -27,200 | -900 | ||||||||
Other | - | - | -14 | ||||||||
Net cash (used)/provided by financing activities | -92,281 | -164,975 | -144,593 | ||||||||
Net increase/(decrease) in cash and cash equivalents | 86,291 | 60,850 | 3,605 | ||||||||
Cash and cash equivalents at beginning of year | 81,271 | 20,421 | 16,816 | ||||||||
Cash and cash equivalents at end of year | $ | 167,562 | $ | 81,271 | $ | 20,421 | |||||
Total interest paid | $ | 23,282 | $ | 24,102 | $ | 23,858 | |||||
Total income taxes paid | 17,053 | 31,075 | 10,671 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Change In Accounting Estimate [Line Items] | ||
Real estate acquired by foreclosure | 39,922,000 | $71,562,000 |
Foreclosed Properties Acquired In Compliance With Hud Servicing Guidelines [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Real estate acquired by foreclosure | 9,500,000 | |
Deposit Bases Member [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Intangible assets, amortized period | 10 years | |
Minimum [Member] | Building [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Useful life of premises and equipment | 7 years | |
Minimum [Member] | Furniture And Fixtures [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Useful life of premises and equipment | 3 years | |
Minimum [Member] | Non Accruing [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Impaired commercial loans | 1,000,000 | |
Maximum [Member] | Building [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Useful life of premises and equipment | 45 years | |
Maximum [Member] | Furniture And Fixtures [Member] | ||
Change In Accounting Estimate [Line Items] | ||
Useful life of premises and equipment | 15 years |
Acquisitions_and_Divestitures_
Acquisitions and Divestitures (Narrative) (Details) (USD $) | 12 Months Ended | 5 Months Ended | 9 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 07, 2013 | Oct. 17, 2014 | Dec. 31, 2011 | Oct. 21, 2014 | |
Business Acquisition [Line Items] | |||||||
Goodwill | $145,932,000 | $141,943,000 | $134,242,000 | $133,659,000 | |||
Goodwill, Impairment | 0 | 0 | 0 | ||||
Total assets | 25,672,887,000 | 23,789,833,000 | |||||
Total deposits | 18,068,939,000 | 16,734,956,000 | |||||
Mountain National Bank | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Name of Acquired Entity | Mountain National Bank | ||||||
Number Of Bank Branches | 12 | ||||||
Mountain National Bank | Acquired From FDIC | |||||||
Business Acquisition [Line Items] | |||||||
Acquisition date | 7-Jun-13 | ||||||
Assets acquired | 451,547,000 | ||||||
Loans acquired | 249,001,000 | ||||||
Cash and cash equivalents | 54,872,000 | ||||||
Premises and equipment | 10,359,000 | ||||||
Deposits assumed | 362,098,000 | ||||||
Asset discount | 33,000,000 | ||||||
Mountain National Bank | As Recorded by FHN | |||||||
Business Acquisition [Line Items] | |||||||
Assets acquired | 416,674,000 | ||||||
Loans acquired | 215,907,000 | ||||||
Cash and cash equivalents | 54,872,000 | ||||||
Premises and equipment | 14,114,000 | ||||||
Deposits assumed | 364,098,000 | ||||||
Goodwill | 7,701,000 | ||||||
Acquisition goodwill expected to be tax deductible | 4,400,000 | ||||||
Branch Acquisition | |||||||
Business Acquisition [Line Items] | |||||||
Acquisition date | 17-Oct-14 | ||||||
Number Of Bank Branches | 13 | ||||||
Deposit Premium | 3.32% | ||||||
Branch Acquisition | As Recorded by FHN | |||||||
Business Acquisition [Line Items] | |||||||
Assets acquired | 437,600,000 | ||||||
Cash and cash equivalents | 413,400,000 | ||||||
Premises and equipment | 7,500,000 | ||||||
Goodwill and intangible assets | 15,700,000 | ||||||
Deposits assumed | 437,200,000 | ||||||
Goodwill | 4,000,000 | ||||||
Acquisition goodwill expected to be tax deductible | 4,000,000 | ||||||
Trustatlantic Financial Corporation | |||||||
Business Acquisition [Line Items] | |||||||
Number Of Bank Branches | 5 |
Acqusitions_and_Divestitures_S
Acqusitions and Divestitures (Schedule of Acquired Assets and Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 07, 2013 |
Liabilities: | |||||
Goodwill | $145,932,000 | $141,943,000 | $134,242,000 | $133,659,000 | |
Mountain National Bank | Acquired From FDIC | |||||
Assets: | |||||
Cash and cash equivalents | 54,872,000 | ||||
Interest-bearing cash | 26,984,000 | ||||
Securities available-for-sale | 73,948,000 | ||||
Loans, net of unearned income | 249,001,000 | ||||
Core deposit intangible | 0 | ||||
Premises and equipment | 10,359,000 | ||||
Real estate acquired by foreclosure | 33,294,000 | ||||
Deferred tax asset | -286,000 | ||||
Other assets | 3,375,000 | ||||
Total assets acquired | 451,547,000 | ||||
Liabilities: | |||||
Deposits | 362,098,000 | ||||
Securities sold under agreements to repurchase | 1,930,000 | ||||
Federal Home Loan Bank advances | 50,040,000 | ||||
Other liabilities | 2,547,000 | ||||
Total liabilities assumed | 416,615,000 | ||||
Acquired noncontrolling interest | 117,000 | ||||
Total liabilities assumed and acquired noncontrolling interest | 416,732,000 | ||||
Excess of assets acquired over liabilities assumed | 34,815,000 | ||||
Mountain National Bank | Purchase Accounting Fair Value Adjustments | |||||
Assets: | |||||
Cash and cash equivalents | 0 | ||||
Interest-bearing cash | 0 | ||||
Securities available-for-sale | -440,000 | ||||
Loans, net of unearned income | -33,094,000 | ||||
Core deposit intangible | 3,200,000 | ||||
Premises and equipment | 3,755,000 | ||||
Real estate acquired by foreclosure | -10,930,000 | ||||
Deferred tax asset | 3,097,000 | ||||
Other assets | -461,000 | ||||
Total assets acquired | -34,873,000 | ||||
Liabilities: | |||||
Deposits | 2,000,000 | ||||
Securities sold under agreements to repurchase | 0 | ||||
Federal Home Loan Bank advances | 5,586,000 | ||||
Other liabilities | 0 | ||||
Total liabilities assumed | 7,586,000 | ||||
Acquired noncontrolling interest | 57,000 | ||||
Total liabilities assumed and acquired noncontrolling interest | 7,643,000 | ||||
Aggregate purchase accounting/fair value adjustments | -42,516,000 | ||||
Mountain National Bank | As Recorded by FHN | |||||
Assets: | |||||
Cash and cash equivalents | 54,872,000 | ||||
Interest-bearing cash | 26,984,000 | ||||
Securities available-for-sale | 73,508,000 | ||||
Loans, net of unearned income | 215,907,000 | ||||
Core deposit intangible | 3,200,000 | ||||
Premises and equipment | 14,114,000 | ||||
Real estate acquired by foreclosure | 22,364,000 | ||||
Deferred tax asset | 2,811,000 | ||||
Other assets | 2,914,000 | ||||
Total assets acquired | 416,674,000 | ||||
Liabilities: | |||||
Deposits | 364,098,000 | ||||
Securities sold under agreements to repurchase | 1,930,000 | ||||
Federal Home Loan Bank advances | 55,626,000 | ||||
Other liabilities | 2,547,000 | ||||
Total liabilities assumed | 424,201,000 | ||||
Acquired noncontrolling interest | 174,000 | ||||
Total liabilities assumed and acquired noncontrolling interest | 424,375,000 | ||||
Goodwill | $7,701,000 |
Investment_Securities_Schedule
Investment Securities (Schedule Of FHN's Investment Securities) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | |||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | $3,526,482,000 | [1] | $3,416,283,000 | [2] |
Securities available for sale, Gross Unrealized Gains | 57,365,000 | [1] | 44,876,000 | [2] |
Securities available for sale, Gross Unrealized Losses | -27,234,000 | [1] | -62,702,000 | [2] |
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] |
Pledged available for sale securities | 3,300,000,000 | 3,100,000,000 | ||
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 4,292,000 | 0 | ||
Securities held to maturity, Gross Unrealized Gains | 1,112,000 | |||
Securities held to maturity, Gross Unrealized Losses | 0 | |||
Securities held to maturity, Fair Value | 5,404,000 | |||
U S States And Political Subdivisions [Member] | ||||
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 4,292,000 | |||
Securities held to maturity, Gross Unrealized Gains | 1,112,000 | |||
Securities held to maturity, Gross Unrealized Losses | 0 | |||
Securities held to maturity, Fair Value | 5,404,000 | |||
FHN [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale | 2,634,000 | 1,643,000 | ||
FRB [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted investments | 66,000,000 | 66,000,000 | ||
FHLB-Cincinnati Stock [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted investments | 87,900,000 | 128,000,000 | ||
U.S. treasuries | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 100,000 | 39,997,000 | ||
Securities available for sale, Gross Unrealized Gains | 0 | 0 | ||
Securities available for sale, Gross Unrealized Losses | 0 | -1,000 | ||
Securities available for sale | 100,000 | 39,996,000 | ||
Government Agency Issued Mortgage-Backed Securities ("MBS") | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 716,618,000 | 796,835,000 | ||
Securities available for sale, Gross Unrealized Gains | 35,287,000 | 32,353,000 | ||
Securities available for sale, Gross Unrealized Losses | -740,000 | -5,499,000 | ||
Securities available for sale | 751,165,000 | 823,689,000 | ||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 2,615,620,000 | 2,335,718,000 | ||
Securities available for sale, Gross Unrealized Gains | 22,026,000 | 12,399,000 | ||
Securities available for sale, Gross Unrealized Losses | -26,380,000 | -57,180,000 | ||
Securities available for sale | 2,611,266,000 | 2,290,937,000 | ||
Other U.S. Government Agencies | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 1,755,000 | 2,202,000 | ||
Securities available for sale, Gross Unrealized Gains | 52,000 | 124,000 | ||
Securities available for sale, Gross Unrealized Losses | 0 | 0 | ||
Securities available for sale | 1,807,000 | 2,326,000 | ||
States And Municipalities | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 10,205,000 | 15,155,000 | ||
Securities available for sale, Gross Unrealized Gains | 0 | 0 | ||
Securities available for sale, Gross Unrealized Losses | 0 | 0 | ||
Securities available for sale | 10,205,000 | 15,155,000 | ||
Equity and other | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 182,184,000 | [3] | 226,376,000 | [4] |
Securities available for sale, Gross Unrealized Gains | 0 | [3] | 0 | [4] |
Securities available for sale, Gross Unrealized Losses | -114,000 | [3] | -22,000 | [4] |
Securities available for sale | 182,070,000 | [3] | 226,354,000 | [4] |
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 0 | |||
Securities held to maturity, Fair Value | $0 | |||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[3] | Includes restricted investments in FHLB-Cincinnati stock of $87.9million and FRB stock of $66.0million. The remainder is money market and cost method investments. | |||
[4] | Includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0million. The remainder is money market, venture capital, and cost method investments. |
Investment_Securities_Schedule1
Investment Securities (Schedule Of Amortized Cost And Fair Value By Contractual Maturity) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Schedule of Investments [Line Items] | ||||
Within 1 year, Amortized Cost | $1,755,000 | |||
After 1 year; within 5 years, Amortized Cost | 1,600,000 | |||
After 5 years; within 10 years, Amortized Cost | 0 | |||
After 10 years, Amortized Cost | 8,705,000 | |||
Subtotal, Amortized Cost | 12,060,000 | |||
Within 1 year, Fair Value | 1,807,000 | |||
After 1 year; within 5 years, Fair Value | 1,600,000 | |||
After 5 years; within 10 years, Fair Value | 0 | |||
After 10 years, Fair Value | 8,705,000 | |||
Subtotal, Fair Value | 12,112,000 | |||
Securities available for sale, Amortized Cost | 3,526,482,000 | [1] | 3,416,283,000 | [2] |
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] |
HTM, Within 1 year, Amortized Cost | 0 | |||
HTM, After 1 year; within 5 years, Amortized Cost | 0 | |||
HTM, After 5 years; within 10 years, Amortized Cost | 0 | |||
HTM, After 10 years, Amortized Cost | 4,292,000 | |||
HTM Subtotal, Amortized Cost | 4,292,000 | |||
HTM, Within 1 year, Fair Value | 0 | |||
HTM, After 1 year; within 5 years, Fair Value | 0 | |||
HTM, After 5 years; within 10 years, Fair Value | 0 | |||
HTM, After 10 years, Fair Value | 5,404,000 | |||
HTM Subtotal, Fair Value | 5,404,000 | |||
Securities held to maturity, Amortized cost | 4,292,000 | 0 | ||
Securities held to maturity, Fair Value | 5,404,000 | |||
Government Agency Issued MBS And CMO | ||||
Schedule of Investments [Line Items] | ||||
Securities available for sale, Amortized Cost | 3,332,238,000 | |||
Securities available for sale | 3,362,431,000 | |||
Securities held to maturity, Amortized cost | 0 | |||
Securities held to maturity, Fair Value | 0 | |||
Equity and other | ||||
Schedule of Investments [Line Items] | ||||
Securities available for sale, Amortized Cost | 182,184,000 | [3] | 226,376,000 | [4] |
Securities available for sale | 182,070,000 | [3] | 226,354,000 | [4] |
Securities held to maturity, Amortized cost | 0 | |||
Securities held to maturity, Fair Value | $0 | |||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[3] | Includes restricted investments in FHLB-Cincinnati stock of $87.9million and FRB stock of $66.0million. The remainder is money market and cost method investments. | |||
[4] | Includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0million. The remainder is money market, venture capital, and cost method investments. |
Investment_Securities_Schedule2
Investment Securities (Schedule Of Realized Gross Gains And Losses On Sale From Available For Sale Portfolio) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Investment Securities [Abstract] | ||||||
Gross gains on sales of securities | $5,867,000 | $4,078,000 | $5,433,000 | |||
Gross (losses) on sales of securities | 0 | -1,193,000 | 0 | |||
Net gain/(loss) on sales of securities | 5,867,000 | [1] | 2,885,000 | [1] | 5,433,000 | [1] |
Venture capital investments | -2,995,000 | [2] | 0 | [2] | -4,700,000 | [2] |
Net OTTI recorded | 0 | -1,125,000 | [3] | -40,000 | [3] | |
Total securities gain/ (loss), net | 2,872,000 | 1,760,000 | 693,000 | |||
Proceeds from sales | 9,200,000 | 63,800,000 | 47,500,000 | |||
Equity securities proceeds from sales | $1,400,000 | |||||
[1] | Proceeds from sales during 2014 were $9.2 million, inclusive of $1.4 million of equity securities. Proceeds from sales during 2013 and 2012 were $63.8 million and $47.5 million, respectively. | |||||
[2] | Includes losses on sales, write-offs and /or unrealized fair value adjustments related to venture capital investments | |||||
[3] | OTTI recorded in 2013 and 2012 is related to equity securities. |
Investment_Securities_Schedule3
Investment Securities (Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | $212,769,000 | $1,812,086,000 |
Less than 12 months, Unrealized Losses | -957,000 | -62,639,000 |
12 months or longer, Fair Value | 1,000,125,000 | 10,010,000 |
12 months or longer, Unrealized Losses | -26,277,000 | -63,000 |
Total Fair Value | 1,212,894,000 | 1,822,096,000 |
Total Unrealized Losses | -27,234,000 | -62,702,000 |
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 179,661,000 | 1,639,254,000 |
Less than 12 months, Unrealized Losses | -869,000 | -57,117,000 |
12 months or longer, Fair Value | 964,267,000 | 10,010,000 |
12 months or longer, Unrealized Losses | -25,511,000 | -63,000 |
Total Fair Value | 1,143,928,000 | 1,649,264,000 |
Total Unrealized Losses | -26,380,000 | -57,180,000 |
Government Agency Issued Mortgage-Backed Securities ("MBS") | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 32,141,000 | 147,792,000 |
Less than 12 months, Unrealized Losses | -8,000 | -5,499,000 |
12 months or longer, Fair Value | 35,849,000 | 0 |
12 months or longer, Unrealized Losses | -732,000 | 0 |
Total Fair Value | 67,990,000 | 147,792,000 |
Total Unrealized Losses | -740,000 | -5,499,000 |
U.S. treasuries | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 24,997,000 | |
Less than 12 months, Unrealized Losses | 1,000 | |
12 months or longer, Fair Value | 0 | |
12 months or longer, Unrealized Losses | 0 | |
Total Fair Value | 24,997,000 | |
Total Unrealized Losses | 1,000 | |
Total debt securities | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 211,802,000 | 1,812,043,000 |
Less than 12 months, Unrealized Losses | -877,000 | -62,617,000 |
12 months or longer, Fair Value | 1,000,116,000 | 10,010,000 |
12 months or longer, Unrealized Losses | -26,243,000 | -63,000 |
Total Fair Value | 1,211,918,000 | 1,822,053,000 |
Total Unrealized Losses | -27,120,000 | -62,680,000 |
Equity | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 967,000 | 43,000 |
Less than 12 months, Unrealized Losses | -80,000 | -22,000 |
12 months or longer, Fair Value | 9,000 | 0 |
12 months or longer, Unrealized Losses | -34,000 | 0 |
Total Fair Value | 976,000 | 43,000 |
Total Unrealized Losses | ($114,000) | ($22,000) |
Loans_Narrative_Details
Loans (Narrative) (Details) (USD $) | 12 Months Ended | |||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 07, 2013 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Troubled debt restructurings loans | $331,300,000 | $352,300,000 | ||||||
Allowance for loan losses | 232,448,000 | 253,809,000 | 276,963,000 | 384,351,000 | ||||
Average balance of impaired loans | 371,558,000 | 442,277,000 | ||||||
Interest income recognized on impaired loan | 6,632,000 | 7,117,000 | ||||||
Forbearance agreements time period | 6 months | |||||||
Loans, net of unearned income | 16,230,166,000 | 15,389,074,000 | 16,708,582,000 | |||||
Provision for loan losses | 27,000,000 | 55,000,000 | 78,000,000 | [1] | ||||
Loan loss provision on PCI loans | 3,300,000 | 1,200,000 | ||||||
Allowance - purchased credit impaired loans | 3,185,000 | 817,000 | ||||||
Acquired From FDIC | Mountain National Bank | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans acquired | 249,001,000 | |||||||
Permanent Mortgage Portfolio Segment | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 19,122,000 | 22,491,000 | 24,928,000 | 26,194,000 | ||||
TDR, reduction of interest rate by increment, basis points | 0.25% | |||||||
TDRS Maturities | 40 years | |||||||
Loans, net of unearned income | 538,961,000 | 662,242,000 | [2] | 765,583,000 | ||||
Modified interest rate increase | 1.00% | |||||||
Provision for loan losses | 208,000 | 5,024,000 | 9,314,000 | [1] | ||||
Allowance - purchased credit impaired loans | 0 | 0 | ||||||
Loans Held-For-Sale | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Troubled debt restructurings loans | 80,100,000 | 135,600,000 | ||||||
Residential Real Estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Concentration risk, percentage | 34.00% | |||||||
Consumer Real Estate Portfolio Segment | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Concentration risk, percentage | 31.00% | |||||||
Allowance for loan losses | 113,011,000 | 126,785,000 | 128,949,000 | 165,077,000 | ||||
TDRS Maturities | 30 years | |||||||
Loans, net of unearned income | 5,048,071,000 | [3] | 5,333,371,000 | [3] | 5,688,703,000 | |||
Provision for loan losses | 8,793,000 | 50,118,000 | 94,020,000 | [1] | ||||
Allowance - purchased credit impaired loans | 77,000 | 11,000 | ||||||
Modified Loans Classified As A TDR | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 59,000,000 | 64,600,000 | ||||||
Ratio of the allowance for loan losses to loans | 18.00% | 18.00% | ||||||
Loans To Mortgage Companies | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Percentage contributed in total loan | 7.00% | |||||||
Concentration risk, percentage | 13.00% | |||||||
Commercial loans | 1,163,018,000 | 790,609,000 | [4] | |||||
Loans, net of unearned income | 1,163,018,000 | 790,609,000 | ||||||
Commercial Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 85,585,000 | 96,245,000 | [4] | |||||
Average balance of impaired loans | 77,431,000 | 150,453,000 | ||||||
Interest income recognized on impaired loan | 786,000 | 937,000 | ||||||
Commercial loans | 10,285,003,000 | 9,010,932,000 | [4] | |||||
Time period of default probability | 1 year | |||||||
Loans pledged to secure potential borrowings from Federal Reserve Bank | 6,100,000 | |||||||
Allowance - purchased credit impaired loans | 3,108,000 | |||||||
Credit Card & Other | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 14,730,000 | 7,484,000 | 6,898,000 | 7,081,000 | ||||
Loans, net of unearned income | 358,131,000 | 336,606,000 | 289,105,000 | |||||
Provision for loan losses | 19,046,000 | 9,321,000 | 9,239,000 | [1] | ||||
Allowance - purchased credit impaired loans | 0 | 2,000 | ||||||
Credit Card | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Credit card workout program, granted rate reduction | 0.00% | |||||||
Loans, net of unearned income | 188,746,000 | 185,959,000 | ||||||
Heloc And Real Estate Installment Classes | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
TDR, reduction of interest rate by increment, basis points | 0.25% | |||||||
Restricted And Secured Consumer Real Estate Loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 76,800,000 | 333,800,000 | ||||||
Restricted And Secured Permanent Mortgage Real Estate Loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 11,200,000 | |||||||
Finance And Insurance Companies | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Percentage contributed in total loan | 12.00% | |||||||
Concentration risk, percentage | 22.00% | |||||||
Commercial loans | 2,000,000,000 | |||||||
Finance Insurance And Loans To Mortgage Companies | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Percentage contributed in total loan | 35.00% | |||||||
Purchased Credit Impaired Loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Net charge-offs | 100,000 | 400,000 | ||||||
Maximum | Permanent Mortgage Portfolio Segment | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Modified interest rate time period | 5 years | |||||||
Maximum | Commercial Portfolio Segment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Forbearance agreements time period | 12 months | |||||||
Maximum | Credit Card | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Payment reductions, time period | 1 year | |||||||
Credit card workout program, term extension | 5 years | |||||||
Maximum | Heloc And Real Estate Installment Classes | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Modified interest rate time period | 5 years | |||||||
Minimum | Non-Accruing | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Impaired commercial loans | 1,000,000 | |||||||
Minimum | Permanent Mortgage Portfolio Segment | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Modified interest rate | 2.00% | |||||||
Modified interest rate time period | 5 years | |||||||
Minimum | Credit Card | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Payment reductions, time period | 6 months | |||||||
Minimum | Heloc And Real Estate Installment Classes | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Modified interest rate | 1.00% | |||||||
Pass | Maximum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 12 | |||||||
Pass | Minimum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 1 | |||||||
Special Mention | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 13 | |||||||
Substandard | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 14 | |||||||
Doubtful | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 15 | |||||||
Unlikely to be Collected Financing Receivable | Maximum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 16 | |||||||
PD Grade 1 | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 70,000 | 85,000 | ||||||
Lowest expected default probability | 1 | |||||||
PD Grade 12 | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 4,622,000 | 2,488,000 | ||||||
PD Grade 13 | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 3,590,000 | 9,047,000 | ||||||
PD Grade 13 | Minimum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loans | 500,000 | |||||||
LGD Grade 1 | Maximum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 12 | |||||||
LGD Grade 1 | Minimum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 1 | |||||||
LGD Grade 12 | Maximum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loan grades | 12 | |||||||
Loan Reassessed | Minimum | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Commercial loans | $1,000,000 | |||||||
[1] | 2012 includes approximately $23 million of loan loss provision related to dischargedbankruptcies. | |||||||
[2] | Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. | |||||||
[3] | Balances as of December 31, 2014 and 2013, include $76.8 million and $333.8 million of restricted and secured real estate loans, respectively. See Note 22 - Variable Interest Entities for additional information. | |||||||
[4] | December 31, 2013 table excludes PCI loans amounting to $45.9 million ($.8 million of allowance). |
Loans_Schedule_Of_Loans_By_Por
Loans (Schedule Of Loans By Portfolio Segment) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 | |||
Allowance for loan losses | 232,448,000 | 253,809,000 | 276,963,000 | 384,351,000 | ||
Total net loans | 15,997,718,000 | 15,135,265,000 | ||||
Commercial Financial And Industrial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 9,007,286,000 | 7,923,576,000 | 8,796,956,000 | |||
Allowance for loan losses | 67,011,000 | 86,446,000 | 96,191,000 | 130,413,000 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 1,277,717,000 | 1,133,279,000 | 1,168,235,000 | |||
Allowance for loan losses | 18,574,000 | 10,603,000 | 19,997,000 | 55,586,000 | ||
Consumer Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 5,048,071,000 | [1] | 5,333,371,000 | [1] | 5,688,703,000 | |
Allowance for loan losses | 113,011,000 | 126,785,000 | 128,949,000 | 165,077,000 | ||
Permanent Mortgage Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 538,961,000 | 662,242,000 | [2] | 765,583,000 | ||
Allowance for loan losses | 19,122,000 | 22,491,000 | 24,928,000 | 26,194,000 | ||
Credit Card And Other Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 358,131,000 | 336,606,000 | 289,105,000 | |||
Allowance for loan losses | 14,730,000 | 7,484,000 | 6,898,000 | 7,081,000 | ||
Restricted And Secured Consumer Real Estate Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 76,800,000 | 333,800,000 | ||||
Restricted And Secured Permanent Mortgage Real Estate Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | $11,200,000 | |||||
[1] | Balances as of December 31, 2014 and 2013, include $76.8 million and $333.8 million of restricted and secured real estate loans, respectively. See Note 22 - Variable Interest Entities for additional information. | |||||
[2] | Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. |
Loans_Certain_Loans_Acquired_I
Loans (Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Rollforward) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||
Loans [Abstract] | ||||||
Balance, beginning of period | $13,490 | $0 | $16,509 | $6,432 | ||
Impact of acquisition/purchase on June 7, 2013 | 495 | 6,650 | ||||
Accretion | -7,090 | -2,234 | ||||
Adjustment for payoffs | -1,575 | -104 | ||||
Adjustment for charge-offs | -79 | -4 | ||||
Increase in accretable yield | 9,473 | [1] | 9,182 | [1] | ||
Balance, end of period | $14,714 | $13,490 | $16,509 | $6,432 | ||
[1] | Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows. |
Loans_Schedule_Of_Acquired_Pur
Loans (Schedule Of Acquired Purchase Credit Impaired Loans By Portfolio Segment) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance | $38,205 | $46,009 |
Unpaid balance | 49,941 | 64,129 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance | 5,044 | 7,077 |
Unpaid balance | 5,813 | 9,169 |
Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance | 32,553 | 38,042 |
Unpaid balance | 43,246 | 53,648 |
Consumer Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance | 598 | 878 |
Unpaid balance | 868 | 1,291 |
Credit Card And Other Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Ending balance | 10 | 12 |
Unpaid balance | $14 | $21 |
Loans_Information_By_Class_Rel
Loans (Information By Class Related To Individually Impaired Loans) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | $342,960,000 | $403,714,000 | ||
Unpaid Principal Balance | 401,743,000 | 469,872,000 | ||
Related Allowance | 63,628,000 | 77,334,000 | ||
Average Recorded Investment | 371,558,000 | 442,277,000 | ||
Interest Income Recognized | 6,632,000 | 7,117,000 | ||
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 55,743,000 | 111,289,000 | ||
Unpaid Principal Balance | 75,351,000 | 134,110,000 | ||
Related Allowance | 5,969,000 | 15,895,000 | ||
Average Recorded Investment | 77,431,000 | 150,453,000 | ||
Interest Income Recognized | 786,000 | 937,000 | ||
Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 287,217,000 | 292,425,000 | ||
Unpaid Principal Balance | 326,392,000 | 335,762,000 | ||
Related Allowance | 57,659,000 | 61,439,000 | ||
Average Recorded Investment | 294,127,000 | 291,824,000 | ||
Interest Income Recognized | 5,846,000 | 6,180,000 | ||
Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 19,234,000 | 41,650,000 | ||
Unpaid Principal Balance | 28,920,000 | 51,141,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 25,028,000 | 85,498,000 | ||
Interest Income Recognized | 0 | 398,000 | ||
Impaired Loans With No Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 25,456,000 | 36,294,000 | ||
Unpaid Principal Balance | 48,092,000 | 64,629,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 31,323,000 | 40,208,000 | ||
Interest Income Recognized | 0 | 0 | ||
Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 36,509,000 | 69,639,000 | ||
Unpaid Principal Balance | 46,431,000 | 82,969,000 | ||
Related Allowance | 5,969,000 | 15,895,000 | ||
Average Recorded Investment | 52,403,000 | 64,955,000 | ||
Interest Income Recognized | 786,000 | 539,000 | ||
Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 261,761,000 | 256,131,000 | ||
Unpaid Principal Balance | 278,300,000 | 271,133,000 | ||
Related Allowance | 57,659,000 | 61,439,000 | ||
Average Recorded Investment | 262,804,000 | 251,616,000 | ||
Interest Income Recognized | 5,846,000 | 6,180,000 | ||
General C I [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 9,558,000 | 26,626,000 | ||
Unpaid Principal Balance | 10,851,000 | 28,089,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 15,826,000 | 46,486,000 | ||
Interest Income Recognized | 0 | 108,000 | ||
General C I [Member] | Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 13,295,000 | 16,741,000 | ||
Unpaid Principal Balance | 17,644,000 | 23,016,000 | ||
Related Allowance | 863,000 | 1,548,000 | ||
Average Recorded Investment | 23,382,000 | 18,291,000 | ||
Interest Income Recognized | 310,000 | 185,000 | ||
TRUPs [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 0 | 6,500,000 | ||
Unpaid Principal Balance | 0 | 6,500,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 813,000 | 9,563,000 | ||
Interest Income Recognized | 0 | 0 | ||
TRUPs [Member] | Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 13,460,000 | 33,610,000 | ||
Unpaid Principal Balance | 13,700,000 | 33,610,000 | ||
Related Allowance | 4,310,000 | 12,747,000 | ||
Average Recorded Investment | 13,524,000 | 37,791,000 | ||
Interest Income Recognized | 0 | 0 | ||
Income C R E [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 8,528,000 | 8,524,000 | ||
Unpaid Principal Balance | 16,242,000 | 16,552,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 7,671,000 | 21,304,000 | ||
Interest Income Recognized | 0 | 168,000 | ||
Income C R E [Member] | Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 8,384,000 | 12,374,000 | ||
Unpaid Principal Balance | 9,756,000 | 14,094,000 | ||
Related Allowance | 650,000 | 810,000 | ||
Average Recorded Investment | 9,944,000 | 5,725,000 | ||
Interest Income Recognized | 286,000 | 201,000 | ||
Residential C R E [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 1,148,000 | 0 | ||
Unpaid Principal Balance | 1,827,000 | 0 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 718,000 | 8,145,000 | ||
Interest Income Recognized | 0 | 122,000 | ||
Residential C R E [Member] | Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 1,370,000 | 6,914,000 | ||
Unpaid Principal Balance | 5,331,000 | 12,249,000 | ||
Related Allowance | 146,000 | 790,000 | ||
Average Recorded Investment | 5,553,000 | 3,148,000 | ||
Interest Income Recognized | 190,000 | 153,000 | ||
Home Equity [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 13,379,000 | [1] | 16,825,000 | [1] |
Unpaid Principal Balance | 32,471,000 | 38,624,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 15,670,000 | 19,418,000 | ||
Interest Income Recognized | 0 | 0 | ||
Home Equity [Member] | Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 84,169,000 | 70,297,000 | ||
Unpaid Principal Balance | 86,252,000 | 71,692,000 | ||
Related Allowance | 18,942,000 | 16,506,000 | ||
Average Recorded Investment | 77,306,000 | 66,154,000 | ||
Interest Income Recognized | 1,799,000 | 1,821,000 | ||
R E Installment Loans [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 4,819,000 | [1] | 11,009,000 | [1] |
Unpaid Principal Balance | 6,247,000 | 14,062,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 7,855,000 | 11,955,000 | ||
Interest Income Recognized | 0 | 0 | ||
R E Installment Loans [Member] | Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 70,858,000 | 72,291,000 | ||
Unpaid Principal Balance | 72,094,000 | 73,230,000 | ||
Related Allowance | 21,836,000 | 27,667,000 | ||
Average Recorded Investment | 73,374,000 | 72,408,000 | ||
Interest Income Recognized | 1,198,000 | 1,340,000 | ||
Permanent Mortgage Portfolio Segment [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 7,258,000 | [1] | 8,460,000 | [1] |
Unpaid Principal Balance | 9,374,000 | 11,943,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 7,798,000 | 8,835,000 | ||
Interest Income Recognized | 0 | 0 | ||
Permanent Mortgage Portfolio Segment [Member] | Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 106,201,000 | 112,998,000 | ||
Unpaid Principal Balance | 119,421,000 | 125,666,000 | ||
Related Allowance | 16,627,000 | 17,042,000 | ||
Average Recorded Investment | 111,528,000 | 112,356,000 | ||
Interest Income Recognized | 2,823,000 | 2,990,000 | ||
Credit Card Other [Member] | Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 533,000 | 545,000 | ||
Unpaid Principal Balance | 533,000 | 545,000 | ||
Related Allowance | 254,000 | 224,000 | ||
Average Recorded Investment | 596,000 | 698,000 | ||
Interest Income Recognized | $26,000 | $29,000 | ||
[1] | All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. |
Loans_Balances_Of_Commercial_L
Loans (Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan losses | $232,448,000 | $253,809,000 | $276,963,000 | $384,351,000 | ||
Total loans collectively evaluated for impairment | 15,846,431,000 | 14,941,780,000 | 16,253,687,000 | |||
Total loans individually evaluated for impairment | 342,345,000 | 400,468,000 | 454,895,000 | |||
Allowance - collectively evaluated for impairment | 165,635,000 | 175,658,000 | 201,803,000 | |||
Allowance - individually evaluated for impairment | 63,628,000 | 77,334,000 | 75,160,000 | |||
Allowance - purchased credit impaired loans | 3,185,000 | 817,000 | ||||
Purchase credit impaired loans - recorded investment | 41,390,000 | 46,826,000 | ||||
General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 7,477,612,000 | 6,709,598,000 | ||||
Total loans individually evaluated for impairment | 22,853,000 | 43,367,000 | ||||
Total commercial loans | 7,505,541,000 | 6,752,965,000 | [1] | |||
Purchase credit impaired loans - recorded investment | 5,076,000 | |||||
Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 1,163,018,000 | 790,609,000 | ||||
Total loans individually evaluated for impairment | 0 | 0 | ||||
Total commercial loans | 1,163,018,000 | 790,609,000 | [1] | |||
Purchase credit impaired loans - recorded investment | 0 | |||||
TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 325,882,000 | [2] | 336,043,000 | [2] | ||
Total loans individually evaluated for impairment | 12,845,000 | [2] | 36,864,000 | [2] | ||
Total commercial loans | 338,727,000 | [2] | 372,907,000 | [1],[2] | ||
LOCOM valuation allowance | 26,200,000 | 29,400,000 | ||||
Highest internal grade | 13 | 13 | ||||
Purchase credit impaired loans - recorded investment | 0 | |||||
Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 1,189,595,000 | 1,032,256,000 | ||||
Total loans individually evaluated for impairment | 16,912,000 | 20,898,000 | ||||
Total commercial loans | 1,240,421,000 | 1,053,154,000 | [1] | |||
Purchase credit impaired loans - recorded investment | 33,914,000 | |||||
Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 33,063,000 | 34,383,000 | ||||
Total loans individually evaluated for impairment | 2,518,000 | 6,914,000 | ||||
Total commercial loans | 37,296,000 | 41,297,000 | [1] | |||
Purchase credit impaired loans - recorded investment | 1,715,000 | |||||
Commercial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Percent of total commercial loans | 100.00% | 100.00% | ||||
Allowance for loan losses | 85,585,000 | 96,245,000 | [1] | |||
Total loans collectively evaluated for impairment | 10,189,170,000 | 8,902,889,000 | ||||
Total loans individually evaluated for impairment | 55,128,000 | 108,043,000 | ||||
Total commercial loans | 10,285,003,000 | 9,010,932,000 | [1] | |||
Allowance - collectively evaluated for impairment | 76,508,000 | 80,350,000 | ||||
Allowance - individually evaluated for impairment | 5,969,000 | 15,895,000 | ||||
Allowance - purchased credit impaired loans | 3,108,000 | |||||
Percent of loan collectively evaluated for impairment | 99.00% | 99.00% | ||||
Percent of loan individually evaluated for impairment | 1.00% | 1.00% | ||||
Purchase credit impaired loans - recorded investment | 40,705,000 | |||||
Percent of loan purchased-credit impaired | 0.00% | |||||
Commercial Loan P D Grade One [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 450,661,000 | 239,141,000 | ||||
Percent of total commercial loans | 4.00% | 3.00% | ||||
Allowance for loan losses | 70,000 | 85,000 | ||||
Commercial Loan P D Grade One [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 450,465,000 | 239,141,000 | ||||
Commercial Loan P D Grade One [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade One [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade One [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 136,000 | 0 | ||||
Commercial Loan P D Grade One [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 60,000 | 0 | ||||
Commercial Loan P D Grade Two [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 436,525,000 | 219,536,000 | ||||
Percent of total commercial loans | 4.00% | 2.00% | ||||
Allowance for loan losses | 130,000 | 80,000 | ||||
Commercial Loan P D Grade Two [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 434,945,000 | 216,173,000 | ||||
Commercial Loan P D Grade Two [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Two [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Two [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,344,000 | 3,363,000 | ||||
Commercial Loan P D Grade Two [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 236,000 | 0 | ||||
Commercial Loan P D Grade Three [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 774,636,000 | 225,046,000 | ||||
Percent of total commercial loans | 8.00% | 2.00% | ||||
Allowance for loan losses | 201,000 | 206,000 | ||||
Commercial Loan P D Grade Three [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 566,364,000 | 224,224,000 | ||||
Commercial Loan P D Grade Three [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 134,230,000 | 0 | ||||
Commercial Loan P D Grade Three [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Three [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 73,812,000 | 739,000 | ||||
Commercial Loan P D Grade Three [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 230,000 | 83,000 | ||||
Commercial Loan P D Grade Four [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 836,944,000 | 334,641,000 | ||||
Percent of total commercial loans | 8.00% | 4.00% | ||||
Allowance for loan losses | 408,000 | 410,000 | ||||
Commercial Loan P D Grade Four [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 589,341,000 | 321,423,000 | ||||
Commercial Loan P D Grade Four [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 202,287,000 | 0 | ||||
Commercial Loan P D Grade Four [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Four [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 45,084,000 | 13,005,000 | ||||
Commercial Loan P D Grade Four [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 232,000 | 213,000 | ||||
Commercial Loan P D Grade Five [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,288,533,000 | 863,803,000 | ||||
Percent of total commercial loans | 13.00% | 10.00% | ||||
Allowance for loan losses | 2,372,000 | 1,331,000 | ||||
Commercial Loan P D Grade Five [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 821,012,000 | 821,158,000 | ||||
Commercial Loan P D Grade Five [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 247,058,000 | 0 | ||||
Commercial Loan P D Grade Five [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Five [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 216,628,000 | 42,420,000 | ||||
Commercial Loan P D Grade Five [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 3,835,000 | 225,000 | ||||
Commercial Loan P D Grade Six [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,657,447,000 | 1,212,356,000 | ||||
Percent of total commercial loans | 16.00% | 13.00% | ||||
Allowance for loan losses | 5,286,000 | 1,643,000 | ||||
Commercial Loan P D Grade Six [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,162,551,000 | 876,982,000 | ||||
Commercial Loan P D Grade Six [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 314,671,000 | 96,287,000 | ||||
Commercial Loan P D Grade Six [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Six [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 175,007,000 | 229,098,000 | ||||
Commercial Loan P D Grade Six [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 5,218,000 | 9,989,000 | ||||
Commercial Loan P D Grade Seven [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,714,273,000 | 1,530,885,000 | ||||
Percent of total commercial loans | 17.00% | 17.00% | ||||
Allowance for loan losses | 8,517,000 | 2,578,000 | ||||
Commercial Loan P D Grade Seven [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,325,968,000 | 1,135,378,000 | ||||
Commercial Loan P D Grade Seven [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 157,410,000 | 172,236,000 | ||||
Commercial Loan P D Grade Seven [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Seven [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 224,226,000 | 216,744,000 | ||||
Commercial Loan P D Grade Seven [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 6,669,000 | 6,527,000 | ||||
Commercial Loan P D Grade Eight [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 950,191,000 | 1,467,589,000 | ||||
Percent of total commercial loans | 9.00% | 16.00% | ||||
Allowance for loan losses | 9,307,000 | 4,426,000 | ||||
Commercial Loan P D Grade Eight [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 699,334,000 | 953,398,000 | ||||
Commercial Loan P D Grade Eight [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 42,730,000 | 295,436,000 | ||||
Commercial Loan P D Grade Eight [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Eight [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 200,463,000 | 218,619,000 | ||||
Commercial Loan P D Grade Eight [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 7,664,000 | 136,000 | ||||
Commercial Loan P D Grade Nine [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 709,592,000 | 962,969,000 | ||||
Percent of total commercial loans | 7.00% | 11.00% | ||||
Allowance for loan losses | 8,901,000 | 8,381,000 | ||||
Commercial Loan P D Grade Nine [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 531,979,000 | 683,223,000 | ||||
Commercial Loan P D Grade Nine [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 58,997,000 | 167,533,000 | ||||
Commercial Loan P D Grade Nine [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Nine [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 117,782,000 | 111,260,000 | ||||
Commercial Loan P D Grade Nine [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 834,000 | 953,000 | ||||
Commercial Loan P D Grade Ten [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 289,201,000 | 518,077,000 | ||||
Percent of total commercial loans | 3.00% | 6.00% | ||||
Allowance for loan losses | 4,806,000 | 7,276,000 | ||||
Commercial Loan P D Grade Ten [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 244,574,000 | 402,532,000 | ||||
Commercial Loan P D Grade Ten [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 5,635,000 | 48,802,000 | ||||
Commercial Loan P D Grade Ten [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Ten [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 38,253,000 | 64,893,000 | ||||
Commercial Loan P D Grade Ten [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 739,000 | 1,850,000 | ||||
Commercial Loan P D Grade Eleven [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 320,590,000 | 429,487,000 | ||||
Percent of total commercial loans | 3.00% | 5.00% | ||||
Allowance for loan losses | 6,887,000 | 9,687,000 | ||||
Commercial Loan P D Grade Eleven [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 287,940,000 | 387,907,000 | ||||
Commercial Loan P D Grade Eleven [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 10,169,000 | ||||
Commercial Loan P D Grade Eleven [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Eleven [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 31,712,000 | 29,774,000 | ||||
Commercial Loan P D Grade Eleven [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 938,000 | 1,637,000 | ||||
Commercial Loan P D Grade Twelve [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 147,922,000 | 166,870,000 | ||||
Percent of total commercial loans | 1.00% | 2.00% | ||||
Allowance for loan losses | 4,622,000 | 2,488,000 | ||||
Commercial Loan P D Grade Twelve [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 117,431,000 | 129,741,000 | ||||
Commercial Loan P D Grade Twelve [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Twelve [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 0 | [2] | ||
Commercial Loan P D Grade Twelve [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 29,453,000 | 32,796,000 | ||||
Commercial Loan P D Grade Twelve [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,038,000 | 4,333,000 | ||||
Commercial Loan P D Grade Thirteen [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 421,004,000 | 514,950,000 | ||||
Percent of total commercial loans | 4.00% | 6.00% | ||||
Allowance for loan losses | 3,590,000 | 9,047,000 | ||||
Commercial Loan P D Grade Thirteen [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 87,840,000 | 163,458,000 | ||||
Commercial Loan P D Grade Thirteen [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Thirteen [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 325,882,000 | [2] | 331,940,000 | [2] | ||
Commercial Loan P D Grade Thirteen [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 6,116,000 | 16,666,000 | ||||
Commercial Loan P D Grade Thirteen [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,166,000 | 2,886,000 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 191,651,000 | 217,539,000 | ||||
Percent of total commercial loans | 2.00% | 2.00% | ||||
Allowance for loan losses | 21,411,000 | 32,712,000 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 157,868,000 | 154,860,000 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 146,000 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [2] | 4,103,000 | [2] | ||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 29,579,000 | 52,879,000 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $4,204,000 | $5,551,000 | ||||
[1] | December 31, 2013 table excludes PCI loans amounting to $45.9 million ($.8 million of allowance). | |||||
[2] | Balances as of December 31, 2014 and 2013, presented net of $26.2 million and $29.4 million, respectively, in lower of cost or market (bLOCOMb) valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade is "13". |
Loans_PeriodEnd_Balances_And_V
Loans (Period-End Balances And Various Asset Quality Attributes By Origination Vintage For The HELOC) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 |
Home Equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 2,469,338,000 | 2,806,591,000 | |
Avg orig FICO | 741 | 740 | |
Avg Refreshed FICO | 732 | 730 | |
Loans, net of unearned income | 2,469,338,000 | 2,806,591,000 | |
Home Equity | Origination Vintage Period 2003 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 56,335,000 | 79,550,000 | |
Avg orig FICO | 708 | 711 | |
Avg Refreshed FICO | 701 | 701 | |
Home Equity | Origination Vintage Period 2003 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 102,073,000 | 141,215,000 | |
Avg orig FICO | 721 | 725 | |
Avg Refreshed FICO | 710 | 711 | |
Home Equity | Origination Vintage Period 2004 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 282,580,000 | 395,323,000 | |
Avg orig FICO | 723 | 727 | |
Avg Refreshed FICO | 709 | 716 | |
Home Equity | Origination Vintage Period 2005 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 451,757,000 | 531,839,000 | |
Avg orig FICO | 731 | 732 | |
Avg Refreshed FICO | 722 | 720 | |
Home Equity | Origination Vintage Period 2006 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 337,440,000 | 383,366,000 | |
Avg orig FICO | 740 | 740 | |
Avg Refreshed FICO | 727 | 726 | |
Home Equity | Origination Vintage Period 2007 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 357,290,000 | 406,299,000 | |
Avg orig FICO | 744 | 744 | |
Avg Refreshed FICO | 729 | 728 | |
Home Equity | Origination Vintage Period 2008 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 194,710,000 | 223,110,000 | |
Avg orig FICO | 753 | 753 | |
Avg Refreshed FICO | 747 | 747 | |
Home Equity | Origination Vintage Period 2009 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 101,594,000 | 115,863,000 | |
Avg orig FICO | 751 | 750 | |
Avg Refreshed FICO | 743 | 744 | |
Home Equity | Origination Vintage Period 2010 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 98,214,000 | 114,393,000 | |
Avg orig FICO | 753 | 753 | |
Avg Refreshed FICO | 749 | 749 | |
Home Equity | Origination Vintage Period 2011 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 96,982,000 | 112,595,000 | |
Avg orig FICO | 759 | 758 | |
Avg Refreshed FICO | 753 | 753 | |
Home Equity | Origination Vintage Period 2012 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 119,333,000 | 138,373,000 | |
Avg orig FICO | 760 | 759 | |
Avg Refreshed FICO | 758 | 760 | |
Home Equity | Origination Vintage Period 2013 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | 151,005,000 | 164,665,000 | |
Avg orig FICO | 758 | 759 | |
Avg Refreshed FICO | 760 | 762 | |
Home Equity | Origination Vintage Period 2014 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
HELOC - Period End Balance | $120,025,000 | $0 | |
Avg orig FICO | 762 | 0 | |
Avg Refreshed FICO | 762 | 0 |
Loans_PeriodEnd_Balances_And_V1
Loans (Period-End Balances And Various Asset Quality Attributes By Originations Vintage For R/E Installment Loans) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 |
Real Estate Installment Class | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 2,578,733,000 | 2,526,780,000 | |
Avg orig FICO | 748 | 746 | |
Avg Refreshed FICO | 747 | 742 | |
Real Estate Installment Class | Origination Vintage Period 2003 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 13,909,000 | 23,827,000 | |
Avg orig FICO | 678 | 681 | |
Avg Refreshed FICO | 684 | 683 | |
Real Estate Installment Class | Origination Vintage Period 2003 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 49,706,000 | 74,451,000 | |
Avg orig FICO | 714 | 716 | |
Avg Refreshed FICO | 724 | 725 | |
Real Estate Installment Class | Origination Vintage Period 2004 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 41,414,000 | 54,240,000 | |
Avg orig FICO | 699 | 701 | |
Avg Refreshed FICO | 695 | 700 | |
Real Estate Installment Class | Origination Vintage Period 2005 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 123,130,000 | 161,205,000 | |
Avg orig FICO | 715 | 717 | |
Avg Refreshed FICO | 712 | 711 | |
Real Estate Installment Class | Origination Vintage Period 2006 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 134,055,000 | 173,994,000 | |
Avg orig FICO | 713 | 715 | |
Avg Refreshed FICO | 702 | 701 | |
Real Estate Installment Class | Origination Vintage Period 2007 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 199,473,000 | 249,198,000 | |
Avg orig FICO | 723 | 725 | |
Avg Refreshed FICO | 709 | 709 | |
Real Estate Installment Class | Origination Vintage Period 2008 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 64,244,000 | 85,192,000 | |
Avg orig FICO | 720 | 723 | |
Avg Refreshed FICO | 714 | 720 | |
Real Estate Installment Class | Origination Vintage Period 2009 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 28,762,000 | 38,842,000 | |
Avg orig FICO | 736 | 742 | |
Avg Refreshed FICO | 725 | 737 | |
Real Estate Installment Class | Origination Vintage Period 2010 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 101,310,000 | 125,094,000 | |
Avg orig FICO | 747 | 748 | |
Avg Refreshed FICO | 752 | 755 | |
Real Estate Installment Class | Origination Vintage Period 2011 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 278,795,000 | 335,343,000 | |
Avg orig FICO | 760 | 760 | |
Avg Refreshed FICO | 759 | 760 | |
Real Estate Installment Class | Origination Vintage Period 2012 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 608,684,000 | 690,461,000 | |
Avg orig FICO | 764 | 764 | |
Avg Refreshed FICO | 766 | 764 | |
Real Estate Installment Class | Origination Vintage Period 2013 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | 475,272,000 | 514,933,000 | |
Avg orig FICO | 756 | 757 | |
Avg Refreshed FICO | 759 | 754 | |
Real Estate Installment Class | Origination Vintage Period 2014 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
R/E Installment Loans- Period End Balance | $459,979,000 | $0 | |
Avg orig FICO | 756 | 0 | |
Avg Refreshed FICO | 752 | 0 |
Loans_PeriodEnd_Balances_And_V2
Loans (Period-End Balances And Various Asset Quality Attributes By Origination Vintage For Permanent Mortgage Classes Of Loans) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 | |
Permanent Mortgage Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 538,961,000 | 662,242,000 | ||
Avg orig FICO | 730 | 731 | ||
Avg Refreshed FICO | 717 | 714 | ||
Loans, net of unearned income | 538,961,000 | 662,242,000 | [1] | 765,583,000 |
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period Pre2004 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 150,217,000 | 194,369,000 | ||
Avg orig FICO | 723 | 725 | ||
Avg Refreshed FICO | 721 | 725 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2004 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 17,349,000 | 22,720,000 | ||
Avg orig FICO | 712 | 713 | ||
Avg Refreshed FICO | 712 | 694 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2005 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 34,033,000 | 40,272,000 | ||
Avg orig FICO | 736 | 737 | ||
Avg Refreshed FICO | 740 | 712 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2006 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 62,053,000 | 79,367,000 | ||
Avg orig FICO | 731 | 730 | ||
Avg Refreshed FICO | 724 | 711 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2007 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 188,868,000 | 223,440,000 | ||
Avg orig FICO | 733 | 734 | ||
Avg Refreshed FICO | 717 | 710 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2008 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | $86,441,000 | $102,074,000 | ||
Avg orig FICO | 741 | 741 | ||
Avg Refreshed FICO | 709 | 714 | ||
[1] | Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. |
Loans_Accruing_And_NonAccruing
Loans (Accruing And Non-Accruing Loans By Class) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 | ||
Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 8,974,676,000 | 7,843,817,000 | |||
Total Non-Accruing | 32,610,000 | 79,759,000 | |||
Loans, net of unearned income | 9,007,286,000 | 7,923,576,000 | 8,796,956,000 | ||
Consumer Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 4,927,439,000 | 5,215,773,000 | |||
Total Non-Accruing | 120,632,000 | 117,598,000 | |||
Loans, net of unearned income | 5,048,071,000 | [1] | 5,333,371,000 | [1] | 5,688,703,000 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 1,262,361,000 | 1,115,178,000 | |||
Total Non-Accruing | 15,356,000 | 18,101,000 | |||
Loans, net of unearned income | 1,277,717,000 | 1,133,279,000 | 1,168,235,000 | ||
Permanent Mortgage Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 504,883,000 | 624,071,000 | |||
Total Non-Accruing | 34,078,000 | 38,171,000 | |||
Loans, net of unearned income | 538,961,000 | 662,242,000 | [2] | 765,583,000 | |
Credit Card And Other Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 357,368,000 | 335,209,000 | |||
Total Non-Accruing | 763,000 | 1,397,000 | |||
Loans, net of unearned income | 358,131,000 | 336,606,000 | 289,105,000 | ||
General C I [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 7,480,824,000 | 6,710,216,000 | |||
Total Non-Accruing | 19,641,000 | 42,749,000 | |||
Loans, net of unearned income | 7,500,465,000 | 6,752,965,000 | |||
Loans To Mortgage Companies [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 1,162,894,000 | 790,463,000 | |||
Total Non-Accruing | 124,000 | 146,000 | |||
Loans, net of unearned income | 1,163,018,000 | 790,609,000 | |||
TRUPs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 325,882,000 | [3] | 336,043,000 | [4] | |
Total Non-Accruing | 12,845,000 | [3] | 36,864,000 | [4] | |
Loans, net of unearned income | 338,727,000 | [3] | 372,907,000 | [4] | |
LOCOM valuation allowance | 26,200,000 | 29,400,000 | |||
Income C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 1,192,008,000 | 1,036,732,000 | |||
Total Non-Accruing | 14,499,000 | 16,422,000 | |||
Loans, net of unearned income | 1,206,507,000 | 1,053,154,000 | |||
Residential C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 34,724,000 | 39,618,000 | |||
Total Non-Accruing | 857,000 | 1,679,000 | |||
Loans, net of unearned income | 35,581,000 | 41,297,000 | |||
Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 2,385,192,000 | 2,728,485,000 | |||
Total Non-Accruing | 84,146,000 | 78,106,000 | |||
Loans, net of unearned income | 2,469,338,000 | 2,806,591,000 | |||
R E Installment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 2,541,572,000 | 2,486,399,000 | |||
Total Non-Accruing | 36,486,000 | 39,492,000 | |||
Loans, net of unearned income | 2,578,058,000 | 2,525,891,000 | |||
Credit Card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 188,746,000 | 185,959,000 | |||
Total Non-Accruing | 0 | 0 | |||
Loans, net of unearned income | 188,746,000 | 185,959,000 | |||
Other Consumer Loans Class | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 168,612,000 | 149,236,000 | |||
Total Non-Accruing | 763,000 | 1,397,000 | |||
Loans, net of unearned income | 169,375,000 | 150,633,000 | |||
C&I Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 5,076,000 | 7,095,000 | |||
Total Non-Accruing | 0 | 0 | |||
Loans, net of unearned income | 5,076,000 | 7,095,000 | |||
CRE Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 35,629,000 | 38,828,000 | |||
Total Non-Accruing | 0 | 0 | |||
Loans, net of unearned income | 35,629,000 | 38,828,000 | |||
RE Installment Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 675,000 | 889,000 | |||
Total Non-Accruing | 0 | 0 | |||
Loans, net of unearned income | 675,000 | 889,000 | |||
Other Purchased Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total Accruing | 10,000 | 14,000 | |||
Total Non-Accruing | 0 | 0 | |||
Loans, net of unearned income | 10,000 | 14,000 | |||
Accruing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 15,950,951,000 | 15,031,486,000 | |||
30-89 Days Past Due | 50,531,000 | 70,298,000 | |||
90+ Days Past Due | 25,245,000 | 32,264,000 | |||
Total Accruing | 16,026,727,000 | 15,134,048,000 | |||
Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 8,970,366,000 | 7,833,401,000 | |||
30-89 Days Past Due | 3,540,000 | 8,606,000 | |||
90+ Days Past Due | 770,000 | 1,810,000 | |||
Accruing | Consumer Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,872,055,000 | 5,155,729,000 | |||
30-89 Days Past Due | 38,689,000 | 38,560,000 | |||
90+ Days Past Due | 16,695,000 | 21,484,000 | |||
Accruing | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,260,614,000 | 1,104,991,000 | |||
30-89 Days Past Due | 1,632,000 | 9,109,000 | |||
90+ Days Past Due | 115,000 | 1,078,000 | |||
Accruing | Permanent Mortgage Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 495,619,000 | 606,707,000 | |||
30-89 Days Past Due | 3,624,000 | 11,235,000 | |||
90+ Days Past Due | 5,640,000 | 6,129,000 | |||
Accruing | Credit Card And Other Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 352,297,000 | 330,658,000 | |||
30-89 Days Past Due | 3,046,000 | 2,788,000 | |||
90+ Days Past Due | 2,025,000 | 1,763,000 | |||
Accruing | General C I [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 7,477,410,000 | 6,701,185,000 | |||
30-89 Days Past Due | 3,196,000 | 8,606,000 | |||
90+ Days Past Due | 218,000 | 425,000 | |||
Accruing | Loans To Mortgage Companies [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,162,894,000 | 790,463,000 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Accruing | TRUPs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 325,882,000 | [3] | 336,043,000 | [4] | |
30-89 Days Past Due | 0 | [3] | 0 | [4] | |
90+ Days Past Due | 0 | [3] | 0 | [4] | |
Accruing | Income C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,190,562,000 | 1,030,910,000 | |||
30-89 Days Past Due | 1,446,000 | 5,822,000 | |||
90+ Days Past Due | 0 | 0 | |||
Accruing | Residential C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 34,541,000 | 39,295,000 | |||
30-89 Days Past Due | 183,000 | 323,000 | |||
90+ Days Past Due | 0 | 0 | |||
Accruing | Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,347,361,000 | 2,688,193,000 | |||
30-89 Days Past Due | 26,738,000 | 25,609,000 | |||
90+ Days Past Due | 11,093,000 | 14,683,000 | |||
Accruing | R E Installment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,524,019,000 | 2,466,647,000 | |||
30-89 Days Past Due | 11,951,000 | 12,951,000 | |||
90+ Days Past Due | 5,602,000 | 6,801,000 | |||
Accruing | Credit Card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 185,015,000 | 182,798,000 | |||
30-89 Days Past Due | 1,909,000 | 1,792,000 | |||
90+ Days Past Due | 1,822,000 | 1,369,000 | |||
Accruing | Other Consumer Loans Class | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 167,272,000 | 147,846,000 | |||
30-89 Days Past Due | 1,137,000 | 996,000 | |||
90+ Days Past Due | 203,000 | 394,000 | |||
Accruing | C&I Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,180,000 | 5,710,000 | |||
30-89 Days Past Due | 344,000 | 0 | |||
90+ Days Past Due | 552,000 | 1,385,000 | |||
Accruing | CRE Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 35,511,000 | 34,786,000 | |||
30-89 Days Past Due | 3,000 | 2,964,000 | |||
90+ Days Past Due | 115,000 | 1,078,000 | |||
Accruing | RE Installment Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 675,000 | 889,000 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Accruing | Other Purchased Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 10,000 | 14,000 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Non-Accruing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 112,552,000 | 128,379,000 | |||
30-89 Days Past Due | 15,967,000 | 13,396,000 | |||
90+ Days Past Due | 74,920,000 | 113,251,000 | |||
Total Non-Accruing | 203,439,000 | 255,026,000 | |||
Non-Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 636,000 | 19,039,000 | |||
30-89 Days Past Due | 1,726,000 | 3,668,000 | |||
90+ Days Past Due | 30,248,000 | 57,052,000 | |||
Non-Accruing | Consumer Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 93,740,000 | 88,606,000 | |||
30-89 Days Past Due | 9,896,000 | 8,381,000 | |||
90+ Days Past Due | 16,996,000 | 20,611,000 | |||
Non-Accruing | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,495,000 | 4,469,000 | |||
30-89 Days Past Due | 1,963,000 | 395,000 | |||
90+ Days Past Due | 11,898,000 | 13,237,000 | |||
Non-Accruing | Permanent Mortgage Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 16,681,000 | 14,868,000 | |||
30-89 Days Past Due | 2,382,000 | 952,000 | |||
90+ Days Past Due | 15,015,000 | 22,351,000 | |||
Non-Accruing | Credit Card And Other Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 1,397,000 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 763,000 | 0 | |||
Non-Accruing | General C I [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 636,000 | 19,039,000 | |||
30-89 Days Past Due | 1,726,000 | 3,668,000 | |||
90+ Days Past Due | 17,279,000 | 20,042,000 | |||
Non-Accruing | Loans To Mortgage Companies [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 124,000 | 146,000 | |||
Non-Accruing | TRUPs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | [3] | 0 | [4] | |
30-89 Days Past Due | 0 | [3] | 0 | [4] | |
90+ Days Past Due | 12,845,000 | [3] | 36,864,000 | [4] | |
Non-Accruing | Income C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,495,000 | 4,339,000 | |||
30-89 Days Past Due | 1,963,000 | 395,000 | |||
90+ Days Past Due | 11,041,000 | 11,688,000 | |||
Non-Accruing | Residential C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 130,000 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 857,000 | 1,549,000 | |||
Non-Accruing | Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 66,410,000 | 59,385,000 | |||
30-89 Days Past Due | 6,628,000 | 5,261,000 | |||
90+ Days Past Due | 11,108,000 | 13,460,000 | |||
Non-Accruing | R E Installment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 27,330,000 | 29,221,000 | |||
30-89 Days Past Due | 3,268,000 | 3,120,000 | |||
90+ Days Past Due | 5,888,000 | 7,151,000 | |||
Non-Accruing | Credit Card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Non-Accruing | Other Consumer Loans Class | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 1,397,000 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 763,000 | 0 | |||
Non-Accruing | C&I Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Non-Accruing | CRE Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Non-Accruing | RE Installment Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | 0 | 0 | |||
Non-Accruing | Other Purchased Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
30-89 Days Past Due | 0 | 0 | |||
90+ Days Past Due | $0 | $0 | |||
[1] | Balances as of December 31, 2014 and 2013, include $76.8 million and $333.8 million of restricted and secured real estate loans, respectively. See Note 22 - Variable Interest Entities for additional information. | ||||
[2] | Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. | ||||
[3] | Total TRUPS includes LOCOM valuation allowance of $26.2 million. | ||||
[4] | Total TRUPS includes LOCOM valuation allowance of $29.4 million. |
Loans_Schedule_Of_Troubled_Deb
Loans (Schedule Of Troubled Debt Restructurings Occurring During The Year) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
number | number | |
General C I [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 4 | 13 |
Pre-Modification Outstanding Recorded Investment | $1,767 | $17,968 |
Post-Modification Outstanding Recorded Investment | 1,492 | 17,784 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 4 | 13 |
Pre-Modification Outstanding Recorded Investment | 1,767 | 17,968 |
Post-Modification Outstanding Recorded Investment | 1,492 | 17,784 |
Income C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 2 | 5 |
Pre-Modification Outstanding Recorded Investment | 421 | 4,221 |
Post-Modification Outstanding Recorded Investment | 421 | 4,187 |
Residential C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | 976 | 0 |
Post-Modification Outstanding Recorded Investment | 960 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 3 | 5 |
Pre-Modification Outstanding Recorded Investment | 1,397 | 4,221 |
Post-Modification Outstanding Recorded Investment | 1,381 | 4,187 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 309 | 354 |
Pre-Modification Outstanding Recorded Investment | 27,078 | 26,606 |
Post-Modification Outstanding Recorded Investment | 27,514 | 26,224 |
R E Installment Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 151 | 426 |
Pre-Modification Outstanding Recorded Investment | 10,050 | 30,400 |
Post-Modification Outstanding Recorded Investment | 9,958 | 30,104 |
Consumer Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 460 | 780 |
Pre-Modification Outstanding Recorded Investment | 37,128 | 57,006 |
Post-Modification Outstanding Recorded Investment | 37,472 | 56,328 |
Permanent Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 34 | 49 |
Pre-Modification Outstanding Recorded Investment | 9,362 | 18,716 |
Post-Modification Outstanding Recorded Investment | 8,879 | 19,184 |
Credit Card And Other Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 64 | 50 |
Pre-Modification Outstanding Recorded Investment | 327 | 233 |
Post-Modification Outstanding Recorded Investment | 315 | 221 |
Troubled Debt Restructurings [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 565 | 897 |
Pre-Modification Outstanding Recorded Investment | 49,981 | 98,144 |
Post-Modification Outstanding Recorded Investment | $49,539 | $97,704 |
Loans_Schedule_Of_Troubled_Deb1
Loans (Schedule Of Troubled Debt Restructurings Within The Previous 12 Months) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
number | number | |
General C I [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 6 | 11 |
Recorded Investment | $869,000 | $6,705,000 |
Income C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 4 | 4 |
Recorded Investment | 3,086,000 | 1,548,000 |
Residential C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 1 |
Recorded Investment | 0 | 33,000 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 7 | 13 |
Recorded Investment | 485,000 | 604,000 |
R E Installment Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 9 | 8 |
Recorded Investment | 530,000 | 428,000 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 6 | 11 |
Recorded Investment | 869,000 | 6,705,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 4 | 5 |
Recorded Investment | 3,086,000 | 1,581,000 |
Consumer Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 16 | 21 |
Recorded Investment | 1,015,000 | 1,032,000 |
Credit Card And Other Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 2 | 17 |
Recorded Investment | 4,000 | 65,000 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 31 | 71 |
Recorded Investment | 6,102,000 | 17,215,000 |
Permanent Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 3 | 17 |
Recorded Investment | $1,128,000 | $7,832,000 |
Allowance_For_Loan_Losses_Narr
Allowance For Loan Losses (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Retail Loans [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Time period within which inherent losses are recognized | 12 months |
Maximum [Member] | Pass | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 12 |
Maximum [Member] | Unlikely to be Collected Financing Receivable | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 16 |
Maximum [Member] | Commercial Loan L G D Grade One [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 12 |
Maximum [Member] | Commercial Loan L G D Grade Twelve [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 12 |
Minimum [Member] | Pass | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 1 |
Minimum [Member] | Commercial Loan L G D Grade One [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 1 |
Minimum [Member] | Non Accruing [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Impaired commercial loans | 1 |
Allowance_For_Loan_Losses_Roll
Allowance For Loan Losses (Rollforward Of The Allowance For Loan Losses By Portfolio Segment) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | $253,809,000 | $276,963,000 | $384,351,000 | |||
Charge-offs | 90,446,000 | 121,418,000 | 225,010,000 | [1] | ||
Recoveries | -42,085,000 | -43,264,000 | -39,622,000 | |||
Provision for loan losses | 27,000,000 | 55,000,000 | 78,000,000 | [2] | ||
Ending Balance | 232,448,000 | 253,809,000 | 276,963,000 | |||
Allowance - individually evaluated for impairment | 63,628,000 | 77,334,000 | 75,160,000 | |||
Allowance - collectively evaluated for impairment | 165,635,000 | 175,658,000 | 201,803,000 | |||
Allowance - purchased credit impaired loans | 3,185,000 | 817,000 | ||||
Individually evaluated for impairment | 342,345,000 | 400,468,000 | 454,895,000 | |||
Collectively evaluated for impairment | 15,846,431,000 | 14,941,780,000 | 16,253,687,000 | |||
Purchase credit impaired loans - recorded investment | 41,390,000 | 46,826,000 | ||||
Loans, net of unearned income | 16,230,166,000 | 15,389,074,000 | 16,708,582,000 | |||
Commercial Financial And Industrial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 86,446,000 | 96,191,000 | 130,413,000 | |||
Charge-offs | 20,492,000 | 22,936,000 | 30,887,000 | [1] | ||
Recoveries | -9,666,000 | -12,487,000 | -11,151,000 | |||
Provision for loan losses | -8,609,000 | 704,000 | -14,486,000 | [2] | ||
Ending Balance | 67,011,000 | 86,446,000 | 96,191,000 | |||
Allowance - individually evaluated for impairment | 5,173,000 | 14,295,000 | 17,799,000 | |||
Allowance - collectively evaluated for impairment | 61,806,000 | 72,132,000 | 78,392,000 | |||
Allowance - purchased credit impaired loans | 32,000 | 19,000 | ||||
Individually evaluated for impairment | 35,698,000 | 80,231,000 | 123,636,000 | |||
Collectively evaluated for impairment | 8,966,512,000 | 7,836,250,000 | 8,673,320,000 | |||
Purchase credit impaired loans - recorded investment | 5,076,000 | 7,095,000 | ||||
Loans, net of unearned income | 9,007,286,000 | 7,923,576,000 | 8,796,956,000 | |||
Commercial Real Estate Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 10,603,000 | 19,997,000 | 55,586,000 | |||
Charge-offs | 3,741,000 | 3,502,000 | 19,977,000 | [1] | ||
Recoveries | -4,150,000 | -4,275,000 | -4,475,000 | |||
Provision for loan losses | 7,562,000 | -10,167,000 | -20,087,000 | [2] | ||
Ending Balance | 18,574,000 | 10,603,000 | 19,997,000 | |||
Allowance - individually evaluated for impairment | 796,000 | 1,600,000 | 156,000 | |||
Allowance - collectively evaluated for impairment | 14,702,000 | 8,218,000 | 19,841,000 | |||
Allowance - purchased credit impaired loans | 3,076,000 | 785,000 | ||||
Individually evaluated for impairment | 19,430,000 | 27,812,000 | 49,517,000 | |||
Collectively evaluated for impairment | 1,222,658,000 | 1,066,639,000 | 1,118,718,000 | |||
Purchase credit impaired loans - recorded investment | 35,629,000 | 38,828,000 | ||||
Loans, net of unearned income | 1,277,717,000 | 1,133,279,000 | 1,168,235,000 | |||
Consumer Real Estate Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 126,785,000 | 128,949,000 | 165,077,000 | |||
Charge-offs | 45,391,000 | 73,642,000 | 147,918,000 | [1] | ||
Recoveries | -22,824,000 | -21,360,000 | -17,770,000 | |||
Provision for loan losses | 8,793,000 | 50,118,000 | 94,020,000 | [2] | ||
Ending Balance | 113,011,000 | 126,785,000 | 128,949,000 | |||
Allowance - individually evaluated for impairment | 40,778,000 | 44,173,000 | 35,289,000 | |||
Allowance - collectively evaluated for impairment | 72,156,000 | 82,601,000 | 93,660,000 | |||
Allowance - purchased credit impaired loans | 77,000 | 11,000 | ||||
Individually evaluated for impairment | 173,225,000 | 170,422,000 | 160,000,000 | |||
Collectively evaluated for impairment | 4,874,171,000 | 5,162,060,000 | 5,528,703,000 | |||
Purchase credit impaired loans - recorded investment | 675,000 | 889,000 | ||||
Loans, net of unearned income | 5,048,071,000 | [3] | 5,333,371,000 | [3] | 5,688,703,000 | |
Permanent Mortgage Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 22,491,000 | 24,928,000 | 26,194,000 | |||
Charge-offs | 5,891,000 | 9,934,000 | 13,604,000 | [1] | ||
Recoveries | -2,314,000 | -2,473,000 | -3,024,000 | |||
Provision for loan losses | 208,000 | 5,024,000 | 9,314,000 | [2] | ||
Ending Balance | 19,122,000 | 22,491,000 | 24,928,000 | |||
Allowance - individually evaluated for impairment | 16,627,000 | 17,042,000 | 21,713,000 | |||
Allowance - collectively evaluated for impairment | 2,495,000 | 5,449,000 | 3,215,000 | |||
Allowance - purchased credit impaired loans | 0 | 0 | ||||
Individually evaluated for impairment | 113,459,000 | 121,458,000 | 120,924,000 | |||
Collectively evaluated for impairment | 425,502,000 | 540,784,000 | 644,659,000 | |||
Purchase credit impaired loans - recorded investment | 0 | 0 | ||||
Loans, net of unearned income | 538,961,000 | 662,242,000 | [4] | 765,583,000 | ||
Credit Card & Other | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 7,484,000 | 6,898,000 | 7,081,000 | |||
Charge-offs | 14,931,000 | 11,404,000 | 12,624,000 | [1] | ||
Recoveries | -3,131,000 | -2,669,000 | -3,202,000 | |||
Provision for loan losses | 19,046,000 | 9,321,000 | 9,239,000 | [2] | ||
Ending Balance | 14,730,000 | 7,484,000 | 6,898,000 | |||
Allowance - individually evaluated for impairment | 254,000 | 224,000 | 203,000 | |||
Allowance - collectively evaluated for impairment | 14,476,000 | 7,258,000 | 6,695,000 | |||
Allowance - purchased credit impaired loans | 0 | 2,000 | ||||
Individually evaluated for impairment | 533,000 | 545,000 | 818,000 | |||
Collectively evaluated for impairment | 357,588,000 | 336,047,000 | 288,287,000 | |||
Purchase credit impaired loans - recorded investment | 10,000 | 14,000 | ||||
Loans, net of unearned income | $358,131,000 | $336,606,000 | $289,105,000 | |||
[1] | 2012 includes approximately $33 million of charge-offs associated with discharged bankruptcies, largely included in the consumer real estate portfolio segment. | |||||
[2] | 2012 includes approximately $23 million of loan loss provision related to dischargedbankruptcies. | |||||
[3] | Balances as of December 31, 2014 and 2013, include $76.8 million and $333.8 million of restricted and secured real estate loans, respectively. See Note 22 - Variable Interest Entities for additional information. | |||||
[4] | Balance as of December 31, 2013, includes $11.2 million of restricted and secured real estate loans. See Note 22 - Variable Interest Entities for additional information. |
Premises_Equipment_And_Leases_1
Premises, Equipment And Leases (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Property Plant And Equipment [Abstract] | |
Maximum duration of noncancelable operating leases, time period | 30 years |
Premises_Equipment_And_Leases_2
Premises, Equipment And Leases (Summary of Premises and Equipment) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Property Plant And Equipment [Abstract] | ||
Land | $76,667,000 | $75,593,000 |
Buildings | 360,133,000 | 354,070,000 |
Leasehold Improvements | 32,404,000 | 38,303,000 |
Furniture, fixtures, and equipment | 201,443,000 | 202,102,000 |
Premises and equipment, at cost | 670,647,000 | 670,068,000 |
Less accumulated depreciation and amortization | 367,651,000 | 364,824,000 |
Premises and equipment, net | $302,996,000 | $305,244,000 |
Premises_Equipment_And_Leases_3
Premises, Equipment And Leases (Minimum Future Lease Payments For Noncancelable Operating Leases On Premises And Equipment ) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Property Plant And Equipment [Abstract] | |
2015 | $15,585 |
2016 | 13,835 |
2017 | 12,629 |
2018 | 10,917 |
2019 | 8,790 |
2020 and after | 27,112 |
Total minimum lease payments | $88,868 |
Premises_Equipment_And_Leases_4
Premises, Equipment And Leases (Rent Expense Incurred Under All Operating Lease Obligations) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Property Plant And Equipment [Abstract] | |||
Rent expense, gross | $20,123,000 | $19,445,000 | $23,109,000 |
Sublease income | -213,000 | -1,974,000 | -3,365,000 |
Rent expense, net | $19,910,000 | $17,471,000 | $19,744,000 |
Mortgage_Servicing_Rights_Narr
Mortgage Servicing Rights (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Participating Mortgage Loans [Line Items] | |||
Total MSR recognized by FHN | $2,517,000 | $72,793,000 | $114,311,000 |
Total value of MSR decline | -41,500,000 | ||
Change in valuation related to higher interest rates and the terms of the servicing sale agreement | -20,100,000 | ||
Percentage of single-family mortgage loans received as fees | 0.31% | ||
Percentage of outstanding balance generating for annual servicing inclusive excess interests | 0.34% | ||
Mortgage Servicing Rights Sale | -70,204,000 | -39,633,000 | 0 |
Capitalized MSR | |||
Participating Mortgage Loans [Line Items] | |||
Unpaid principal of mortgage loans serviced by FHN | 10,000,000,000 | ||
Mortgage Banking Income | |||
Participating Mortgage Loans [Line Items] | |||
Servicing, late, and other ancillary fees | 21,100,000 | 41,900,000 | 58,900,000 |
Other Income And Commissions | |||
Participating Mortgage Loans [Line Items] | |||
Servicing, late, and other ancillary fees | $1,700,000 | $2,000,000 |
Mortgage_Servicing_Rights_Summ
Mortgage Servicing Rights (Summary Of Changes In Capitalized MSR) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Participating Mortgage Loans [Line Items] | |||
Fair value, beginning balance | $72,793,000 | $114,311,000 | |
Reductions due to sales of MSRs | -70,204,000 | -39,633,000 | 0 |
Reductions due to loan payments | -21,572,000 | ||
Reductions due to exercise of cleanup calls | -495,000 | ||
Changes in fair value due to: | |||
Changes in valuation model inputs or assumptions | 20,184,000 | ||
Other changes in fair value | -2,000 | ||
Fair value, ending balance | 2,517,000 | 72,793,000 | 114,311,000 |
First Liens [Member] | |||
Participating Mortgage Loans [Line Items] | |||
Fair value, beginning balance | 111,314,000 | ||
Reductions due to sales of MSRs | -39,633,000 | ||
Reductions due to loan payments | -20,938,000 | ||
Reductions due to exercise of cleanup calls | -495,000 | ||
Changes in fair value due to: | |||
Changes in valuation model inputs or assumptions | 20,184,000 | ||
Other changes in fair value | -91,000 | ||
Fair value, ending balance | 70,341,000 | ||
Second Liens [Member] | |||
Participating Mortgage Loans [Line Items] | |||
Fair value, beginning balance | 196,000 | ||
Reductions due to sales of MSRs | 0 | ||
Reductions due to loan payments | -80,000 | ||
Reductions due to exercise of cleanup calls | 0 | ||
Changes in fair value due to: | |||
Changes in valuation model inputs or assumptions | 0 | ||
Other changes in fair value | 45,000 | ||
Fair value, ending balance | 161,000 | ||
Home Equity [Member] | |||
Participating Mortgage Loans [Line Items] | |||
Fair value, beginning balance | 2,801,000 | ||
Reductions due to sales of MSRs | 0 | ||
Reductions due to loan payments | -554,000 | ||
Reductions due to exercise of cleanup calls | 0 | ||
Changes in fair value due to: | |||
Changes in valuation model inputs or assumptions | 0 | ||
Other changes in fair value | 44,000 | ||
Fair value, ending balance | $2,291,000 |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Gross carrying amount of other intangible assets | $70.30 |
Intangible assets accumulated amortization | 40.8 |
Estimated aggregate amortization expense, Year 2015 | 5.2 |
Estimated aggregate amortization expense, Year 2016 | 5 |
Estimated aggregate amortization expense, Year 2017 | 4.7 |
Estimated aggregate amortization expense, Year 2018 | 4.5 |
Estimated aggregate amortization expense, Year 2019 | $4.20 |
Intangible_Assets_Summary_Of_I
Intangible Assets (Summary Of Intangible Assets, Net Of Accumulated Amortization Included In The Consolidated Statements) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Goodwill And Intangible Assets Disclosure [Abstract] | ||||||
Goodwill, Beginning balance | $141,943,000 | $134,242,000 | $133,659,000 | |||
Goodwill, Amortization expense | 0 | 0 | 0 | |||
Goodwill, Impairment | 0 | 0 | 0 | |||
Goodwill, Divestitures | 0 | 0 | 0 | |||
Goodwill, Additions | 3,989,000 | [1] | 7,701,000 | [1] | 583,000 | |
Goodwill, Ending balance | 145,932,000 | 141,943,000 | 134,242,000 | |||
Other Intangible Assets, Beginning Balance | 21,988,000 | [2] | 22,700,000 | [2] | 26,243,000 | [2] |
Other Intangible Assets, Amortization expense | 4,170,000 | [2] | 3,912,000 | [2] | 3,910,000 | [2] |
Other Intangible Assets, Additions | 11,700,000 | [2] | ||||
Other Intangible Assets, Ending Balance | $29,518,000 | [2] | $21,988,000 | [2] | $22,700,000 | [2] |
[1] | See Note 2 - Acquisitions & Divestures for further details regarding goodwill related to acquisitions. | |||||
[2] | Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. |
Intangible_Assets_Summary_Of_G
Intangible Assets (Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Goodwill [Line Items] | ||||||
Gross goodwill | $345,927,000 | $341,938,000 | $334,237,000 | $333,654,000 | ||
Accumulated impairments | -114,123,000 | -114,123,000 | -114,123,000 | -114,123,000 | ||
Accumulated divestiture related write-offs | -85,872,000 | -85,872,000 | -85,872,000 | -85,872,000 | ||
Goodwill | 145,932,000 | 141,943,000 | 134,242,000 | 133,659,000 | ||
Additions | 3,989,000 | [1] | 7,701,000 | [1] | 583,000 | |
Impairments | 0 | 0 | 0 | |||
Divestitures | 0 | 0 | 0 | |||
Net change in goodwill | 3,989,000 | 7,701,000 | 583,000 | |||
Non Strategic [Member] | ||||||
Goodwill [Line Items] | ||||||
Gross goodwill | 199,995,000 | 199,995,000 | 199,995,000 | 199,995,000 | ||
Accumulated impairments | -114,123,000 | -114,123,000 | -114,123,000 | -114,123,000 | ||
Accumulated divestiture related write-offs | -85,872,000 | -85,872,000 | -85,872,000 | -85,872,000 | ||
Goodwill | 0 | 0 | 0 | 0 | ||
Additions | 0 | 0 | 0 | |||
Impairments | 0 | 0 | 0 | |||
Divestitures | 0 | 0 | 0 | |||
Net change in goodwill | 0 | 0 | 0 | |||
Regional Banking [Member] | ||||||
Goodwill [Line Items] | ||||||
Gross goodwill | 47,928,000 | 43,939,000 | 36,238,000 | 36,238,000 | ||
Accumulated impairments | 0 | 0 | 0 | 0 | ||
Accumulated divestiture related write-offs | 0 | 0 | 0 | 0 | ||
Goodwill | 47,928,000 | 43,939,000 | 36,238,000 | 36,238,000 | ||
Additions | 3,989,000 | 7,701,000 | 0 | |||
Impairments | 0 | 0 | 0 | |||
Divestitures | 0 | 0 | 0 | |||
Net change in goodwill | 3,989,000 | 7,701,000 | 0 | |||
Capital Markets [Member] | ||||||
Goodwill [Line Items] | ||||||
Gross goodwill | 98,004,000 | 98,004,000 | 98,004,000 | 97,421,000 | ||
Accumulated impairments | 0 | 0 | 0 | 0 | ||
Accumulated divestiture related write-offs | 0 | 0 | 0 | 0 | ||
Goodwill | 98,004,000 | 98,004,000 | 98,004,000 | 97,421,000 | ||
Additions | 0 | 0 | 583,000 | |||
Impairments | 0 | 0 | 0 | |||
Divestitures | 0 | 0 | 0 | |||
Net change in goodwill | $0 | $0 | $583,000 | |||
[1] | See Note 2 - Acquisitions & Divestures for further details regarding goodwill related to acquisitions. |
Time_Depoist_Maturities_Schedu
Time Depoist Maturities (Schedule of Time Deposits Included in Interest-Bearing Deposits) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Maturities Of Time Deposits [Abstract] | ||
2015 | $860,822,000 | |
2016 | 137,356,000 | |
2017 | 98,508,000 | |
2018 | 82,457,000 | |
2019 | 52,733,000 | |
2020 and after | 45,062,000 | |
Total | 1,276,938,000 | |
Total certificates of deposit $100,000 and more | $445,272,000 | $553,957,000 |
ShortTerm_Borrowings_Narrative
Short-Term Borrowings (Narrative) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Short Term Debt [Line Items] | |
Fair value of capital markets trading securities pledged to secure other short-term borrowings | 172,900,000 |
Federal Funds Purchased [Member] | |
Short Term Debt [Line Items] | |
Maximum maturity days | 90 days |
Securities Sold Under Agreements To Repurchase [Member] | |
Short Term Debt [Line Items] | |
Maximum maturity days | 90 days |
Trading Liabilities [Member] | |
Short Term Debt [Line Items] | |
Maximum holding days | 90 days |
Other Short Term Borrowings [Member] | |
Short Term Debt [Line Items] | |
Maximum original maturity period | 1 year |
ShortTerm_Brorrowings_Summary_
Short-Term Brorrowings (Summary of Short-Term Borrowings) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Federal Funds Purchased [Member] | |||
Short Term Debt [Line Items] | |||
Average balance | $1,101,910,000 | $1,263,792,000 | $1,548,020,000 |
Year-end balance | 1,037,052,000 | 1,042,633,000 | 1,351,023,000 |
Maximum month-end outstanding | 1,247,295,000 | 1,429,319,000 | 1,700,172,000 |
Average rate for the year | 0.25% | 0.25% | 0.25% |
Average rate at year-end | 0.25% | 0.25% | 0.25% |
Securities Sold Under Agreements To Repurchase [Member] | |||
Short Term Debt [Line Items] | |||
Average balance | 447,801,000 | 487,923,000 | 380,871,000 |
Year-end balance | 562,214,000 | 442,789,000 | 555,438,000 |
Maximum month-end outstanding | 562,214,000 | 618,643,000 | 555,438,000 |
Average rate for the year | 0.08% | 0.14% | 0.18% |
Average rate at year-end | 0.06% | 0.10% | 0.15% |
Trading Liabilities [Member] | |||
Short Term Debt [Line Items] | |||
Average balance | 633,867,000 | 665,095,000 | 589,461,000 |
Year-end balance | 594,314,000 | 368,348,000 | 564,429,000 |
Maximum month-end outstanding | 718,767,000 | 895,844,000 | 808,139,000 |
Average rate for the year | 2.43% | 2.05% | 1.77% |
Average rate at year-end | 2.60% | 2.46% | 1.88% |
Other Short Term Borrowings [Member] | |||
Short Term Debt [Line Items] | |||
Average balance | 531,984,000 | 299,288,000 | 450,690,000 |
Year-end balance | 157,218,000 | 181,146,000 | 441,201,000 |
Maximum month-end outstanding | $1,829,141,000 | $1,057,412,000 | $1,270,180,000 |
Average rate for the year | 0.30% | 0.27% | 0.15% |
Average rate at year-end | 0.56% | 0.43% | 0.25% |
Term_Borrowings_Narrative_Deta
Term Borrowings (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2004 | Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | |||
Term borrowings | $1,880,105,000 | $1,739,859,000 | |
First Horizon National Corporation | Capital Securities Series B | |||
Debt Instrument [Line Items] | |||
Debt Instrument Maturity Date | 15-Apr-34 | ||
First Horizon National Corporation | Subordinated Debentures Subject To Mandatory Redemption [Member] | Capital Securities Series B | |||
Debt Instrument [Line Items] | |||
Term borrowings | 206,000,000 | ||
Debt Instrument Interest Rate Stated Percentage | 6.30% | ||
First Tennesee Capital II | Capital Securities Series B | |||
Debt Instrument [Line Items] | |||
Capital securities value | 200,000,000 | ||
Interest rate of capital securities | 6.30% | ||
Debt Instrument Maturity Date | 15-Apr-34 |
Term_Borrowings_Schedule_Of_In
Term Borrowings (Schedule Of Information Pertaining To Term Borrowings) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Debt Instrument [Line Items] | |||||
Term borrowings | 1,880,105,000 | 1,739,859,000 | |||
Loans, net of unearned income | 16,230,166,000 | 15,389,074,000 | 16,708,582,000 | ||
Number of previously consolidated on-balance sheet consumer loan securitizations extinguished | 3 | ||||
Retail Real Estate Residential [Member] | |||||
Debt Instrument [Line Items] | |||||
Loans, net of unearned income | 76,800,000 | 344,900,000 | |||
Debt Instrument Maturity Date - 1/15/15 - 5.05% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 15-Jan-15 | ||||
Debt instrument interest rate | 5.05% | ||||
Debt Instrument Maturity Date - 4/1/16 - 5.65% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 1-Apr-16 | ||||
Debt instrument interest rate | 5.65% | ||||
Debt Instrument Maturity Date - 12/1/19 - 2.95% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 1-Dec-19 | ||||
Debt instrument interest rate | 2.95% | ||||
Debt Instrument Maturity Date - 12/22/2037 | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 22-Dec-37 | ||||
Debt instrument interest rate at period end | 0.54% | 0.54% | |||
Debt Instrument Maturity Date - 12/15/15 - 5.375% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 15-Dec-15 | ||||
Debt instrument interest rate | 5.38% | ||||
Debt Insturment Maturity Date - 4/15/34 - 6.30% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 15-Apr-34 | ||||
Debt instrument interest rate | 6.30% | ||||
Debt Insturment Maturity Date - 3/31/31 - 9.50% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 31-Mar-31 | ||||
Debt instrument interest rate | 9.50% | ||||
Debt Insturment Maturity Date - 10/26/26 | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 26-Oct-26 | ||||
Debt instrument interest rate at period end | 0.30% | ||||
Debt Instrument Maturity Date - 9/25/29 | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 25-Sep-29 | ||||
Debt instrument interest rate at period end | 0.30% | ||||
Debt Instrument Maturity Date - 9/1/32 | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 1-Sep-32 | ||||
Debt instrument interest rate at period end | 6.45% | ||||
Debt Insturment Maturity Date - 10/25/34 | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 25-Oct-34 | ||||
Debt instrument interest rate at period end | 0.33% | 0.33% | |||
Debt Instrument Maturity Date - 10/25/18 - 4.97% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 25-Oct-18 | ||||
Debt instrument interest rate at period end | 4.97% | ||||
Debt Instrument Maturity Date - 2/1/33 - 4.97% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 1-Feb-33 | ||||
Debt instrument interest rate | 4.97% | ||||
Debt Instrument Maturity Date - 8/8/36 - 2.38% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument maturity date | 8-Aug-36 | ||||
Debt instrument interest rate | 2.38% | ||||
Federal Home Loan Bank Borrowings | |||||
Debt Instrument [Line Items] | |||||
Debt instrument weighted average interest rate | 2.41% | ||||
First Tennessee Bank National Association [Member] | Subordinated Debt | Debt Instrument Maturity Date - 1/15/15 - 5.05% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 304,525,000 | [1],[2] | 317,714,000 | [1],[2] | |
First Tennessee Bank National Association [Member] | Subordinated Debt | Debt Instrument Maturity Date - 4/1/16 - 5.65% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 264,667,000 | [1],[2] | 276,273,000 | [1],[2] | |
First Tennessee Bank National Association [Member] | Senior capital notes | Debt Instrument Maturity Date - 12/1/19 - 2.95% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 398,011,000 | [1] | 0 | ||
First Tennessee Bank National Association [Member] | Collateralized By Loans [Member] | Debt Instrument Maturity Date - 12/22/2037 | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 62,562,000 | [3] | 60,223,000 | [3] | |
First Tennessee Bank National Association [Member] | Federal Home Loan Bank Borrowings | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 0 | 2,390,000 | [4] | ||
First Horizon National Corporation | Subordinated Debt | Debt Insturment Maturity Date - 4/15/34 - 6.30% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 212,474,000 | [1] | 192,014,000 | [1] | |
First Horizon National Corporation | Senior capital notes | Debt Instrument Maturity Date - 12/15/15 - 5.375% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 508,358,000 | [1] | 516,584,000 | [1] | |
FT Real Estate Securities Company, Inc. [Member] | Cumulative Preferred | Debt Insturment Maturity Date - 3/31/31 - 9.50% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 45,896,000 | [2] | 45,828,000 | [2] | |
First Horizon ABS Trusts [Member] | Collateralized By Loans [Member] | Debt Insturment Maturity Date - 10/26/26 | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 0 | [5],[6] | 98,631,000 | [5],[6] | |
First Horizon ABS Trusts [Member] | Collateralized By Loans [Member] | Debt Instrument Maturity Date - 9/25/29 | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 0 | [5],[6] | 122,562,000 | [5],[6] | |
First Horizon ABS Trusts [Member] | Collateralized By Loans [Member] | Debt Instrument Maturity Date - 9/1/32 | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 0 | [5],[6] | 8,783,000 | [5],[6] | |
First Horizon ABS Trusts [Member] | Collateralized By Loans [Member] | Debt Insturment Maturity Date - 10/25/34 | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 65,612,000 | [5] | 80,857,000 | [5] | |
First Tennessee New Market Corporation Investments [Member] | Debt Instrument Maturity Date - 10/25/18 - 4.97% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 7,301,000 | 7,301,000 | |||
First Tennessee New Market Corporation Investments [Member] | Debt Instrument Maturity Date - 2/1/33 - 4.97% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 8,000,000 | 8,000,000 | |||
First Tennessee New Market Corporation Investments [Member] | Debt Instrument Maturity Date - 8/8/36 - 2.38% | |||||
Debt Instrument [Line Items] | |||||
Term borrowings | 2,699,000 | 2,699,000 | |||
Minimum [Member] | Federal Home Loan Bank Borrowings | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, interest rates with remaining terms | 1 year | ||||
Maximum [Member] | Federal Home Loan Bank Borrowings | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, interest rates with remaining terms | 16 years | ||||
[1] | Changes in the fair value of debt attributable to interest rate risk is hedged. Refer to Note 23 b Derivatives. | ||||
[2] | A portion qualifies for total capital under the risk-based capital guidelines. | ||||
[3] | Secured by trust preferred loans. | ||||
[4] | The Federal Home Loan Bank borrowings were issued with fixed interest rates and had remaining terms of 1 to 16 years at December, 31 2013. These borrowings had weighted average interest rate of 2.41 percent on December 31, 2013. | ||||
[5] | On December 31, 2014 and 2013, borrowings secured by $76.8 million and $344.9 million, respectively, of residential real estate loans. | ||||
[6] | In 2014, FHN resolved three previously consolidated on-balance sheet consumer loan securitizations and the collateralized borrowings were extinguished. |
Term_Borrowings_Schedule_Of_An
Term Borrowings (Schedule Of Annual Principal Repayment Requirements) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Long Term Debt [Abstract] | |
2015 | $804,000 |
2016 | 250,000 |
2017 | 0 |
2018 | 7,301 |
2019 | 400,000 |
2020 and after | $392,058 |
Preferred_Stock_Details
Preferred Stock (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 02, 2013 | Dec. 31, 2000 | Jan. 31, 2013 | Dec. 31, 2005 | |
Preferred Units [Line Items] | |||||||
Preferred shares issued | 1,000 | 1,000 | |||||
Liquidation preference per share | $100,000 | $100,000 | |||||
Noncontrolling interest, subsidiary preferred stock | $300,000 | $300,000 | |||||
Stock Issued During Period Value New Issues | 95,624,000 | ||||||
Proceeds from issuance of preferred stock | 0 | 95,624,000 | 0 | ||||
Acquired noncontrolling interest | 174,000 | ||||||
Class A Preferred Stock [Member] | First Tennessee Bank National Association [Member] | |||||||
Preferred Units [Line Items] | |||||||
Noncontrolling interest, subsidiary preferred stock | 294,800,000 | 294,800,000 | |||||
Class A Preferred Stock [Member] | First Horizon Preferred Funding III Inc [Member] | |||||||
Preferred Units [Line Items] | |||||||
Stock Issued During Period Value New Issues | 100,000 | ||||||
Class A Preferred Stock [Member] | First Horizon Preferred Lending IV [Member] | |||||||
Preferred Units [Line Items] | |||||||
Acquired noncontrolling interest | 200,000 | ||||||
Preferred Class B [Member] | FT Real Estate Securities Company, Inc. [Member] | |||||||
Preferred Units [Line Items] | |||||||
Percentage of cumulative preferred stock | 9.50% | ||||||
Liquidation preference per share | $1,000,000 | ||||||
Stock Issued During Period Shares New Issues | 50 | ||||||
Debt instrument maturity date | 31-Mar-31 | ||||||
Preferred Class B [Member] | Noncontrolling Interest [Member] | |||||||
Preferred Units [Line Items] | |||||||
Stock Issued During Period Shares New Issues | 47 | ||||||
Series A Preferred Stock [Member] | Fhn [Member] | |||||||
Preferred Units [Line Items] | |||||||
Preferred shares issued | 1,000 | ||||||
Percentage of cumulative preferred stock | 6.20% | ||||||
Proceeds from issuance of preferred stock | 96,000,000 | ||||||
Value of depositary share | 0.03% | ||||||
Aggregate liquidation preference | $100,000,000 | ||||||
Noncumulative Preferred Stock [Member] | First Tennessee Bank National Association [Member] | |||||||
Preferred Units [Line Items] | |||||||
Liquidation preference per share | $1,000 | ||||||
Stock Issued During Period Shares New Issues | 300,000 | ||||||
Preferred stock dividends, variable rate basis, three month LIBOR | three month LIBOR | ||||||
Declared And Accrued Preferred Stock Basis Spread on Variable Rate | 0.85% | ||||||
Declared And Accrued Preferred Stock Dividend Fixed Rate | 3.75% |
Regulatory_Capital_And_Restric1
Regulatory Capital And Restrictions (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Jan. 01, 2015 | |
Undivided profits | $860,963,000 | $695,207,000 | |
Dividend paid to parent company | 180,000,000 | 180,000,000 | |
First Tennessee Bank National Association [Member] | |||
Total Capital, Actual Ratio | 17.86% | 18.36% | |
Tier 1 Capital, Actual Ratio | 16.12% | 15.99% | |
Leverage, Actual Ratio | 12.72% | 12.71% | |
Vault cash used to meet cash reserve requirements | 150,800,000 | 137,800,000 | |
Undivided profits | 1,000,000,000 | ||
Available amount for dividend without prior regulatory approval | -75,700,000 | 15,100,000 | |
Percent of capital stock and surplus threshold for credit extension to affiliates | 20.00% | ||
Maximum amount of credit bank may extend to all affliates | 688,000,000 | ||
Maximum amount of credit bank may extend to parent and certain financial subsidiaries | 344,000,000 | ||
Number of years most recently completed | 2 years | ||
Number of immediately preceding years | 2 years | ||
Percent of capital stock and surplus threshold for credit extension to parent and certain financial subsidiaries | 10.00% | ||
First Tennessee Bank National Association [Member] | Minimum [Member] | |||
Cash reserve required | 125,900,000 | 115,200,000 | |
Fhn [Member] | |||
Total Capital, Actual Ratio | 16.18% | 16.23% | |
Tier 1 Capital, Actual Ratio | 14.46% | 13.87% | |
Leverage, Actual Ratio | 11.43% | 11.04% | |
Covered Transactions | 900,000 | ||
FTBNA Excluding Financial Subsidiaries [Member] | |||
Total Capital, Actual Ratio | 16.59% | 16.84% | |
Tier 1 Capital, Actual Ratio | 15.77% | 15.43% | |
Leverage, Actual Ratio | 12.41% | 12.33% | |
All Affiliates [Member] | |||
Covered Transactions | 366,700,000 | ||
FTN Financial Securities Corporation [Member] | |||
Total Equity investment from FTBNA | $365,800,000 |
Regulatory_Capital_And_Restric2
Regulatory Capital And Restrictions (Summary Of Actual Capital Amounts And Ratios) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
FHN | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital, Actual Amount | $3,148,336,000 | $3,063,631,000 |
Total Capital, Actual Ratio | 16.18% | 16.23% |
Tier 1 Capital, Actual Amount | 2,813,503,000 | 2,618,976,000 |
Tier 1 Capital, Actual Ratio | 14.46% | 13.87% |
Leverage, Actual Amount | 2,813,503,000 | 2,618,976,000 |
Leverage, Actual Ratio | 11.43% | 11.04% |
Total Capital, Capital Adequacy Purposes, Amount | 1,556,213,000 | 1,510,288,000 |
Total Capital, Capital Adequacy, Ratio | 8.00% | 8.00% |
Tier 1 Capital, Capital Adequacy Purposes, Amount | 778,106,000 | 755,144,000 |
Tier 1 Capital, Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Leverage, Capital Adequacy Purposes, Amount | 985,033,000 | 949,181,000 |
Leverage, Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
First Tennessee Bank National Association | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital, Actual Amount | 3,441,315,000 | 3,434,410,000 |
Total Capital, Actual Ratio | 17.86% | 18.36% |
Tier 1 Capital, Actual Amount | 3,107,407,000 | 2,991,866,000 |
Tier 1 Capital, Actual Ratio | 16.12% | 15.99% |
Leverage, Actual Amount | 3,107,407,000 | 2,991,866,000 |
Leverage, Actual Ratio | 12.72% | 12.71% |
Total Capital, Capital Adequacy Purposes, Amount | 1,541,837,000 | 1,496,685,000 |
Total Capital, Capital Adequacy, Ratio | 8.00% | 8.00% |
Tier 1 Capital, Capital Adequacy Purposes, Amount | 770,918,000 | 748,342,000 |
Tier 1 Capital, Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Leverage, Capital Adequacy Purposes, Amount | 977,374,000 | 941,641,000 |
Leverage, Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Total Capital, To Be Well Capitalized Under Proompt Corrective Action Provisions, Amount | 1,927,296,000 | 1,870,856,000 |
Total Capital, To be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 Capital, To Be Well Capitalized Under Prompt Action Provisions, Amount | 1,156,378,000 | 1,122,514,000 |
Tier 1 Capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.00% | 6.00% |
Leverage, To be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $1,221,717,000 | $1,177,051,000 |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Other_Income_And_Other_Expense2
Other Income And Other Expense (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
All other income and commissions: | |||
ATM interchange fees | $10,943,000 | $10,412,000 | $10,528,000 |
Electronic banking fees | 6,190,000 | 6,289,000 | 6,537,000 |
Letter of credit fees | 4,864,000 | 5,081,000 | 5,158,000 |
Deferred compensation | 2,042,000 | 4,685,000 | 4,461,000 |
Gains/(loss) on extinguishment of debt | -4,166,000 | 0 | 0 |
Other | 12,390,000 | 13,874,000 | 20,257,000 |
Total | 32,263,000 | 40,341,000 | 46,941,000 |
All other expense: | |||
Other insurance and taxes | 12,900,000 | 12,598,000 | 10,734,000 |
Tax credit investments | 10,767,000 | 12,103,000 | 18,655,000 |
Travel and entertainment | 9,095,000 | 8,959,000 | 8,366,000 |
Customer relations | 5,726,000 | 4,916,000 | 4,578,000 |
Employee training and dues | 4,518,000 | 5,054,000 | 4,525,000 |
Supplies | 3,745,000 | 3,800,000 | 3,752,000 |
Miscellaneous loan costs | 2,690,000 | 4,209,000 | 4,126,000 |
Litigation and regulatory matters | -2,720,000 | 63,654,000 | 33,313,000 |
Other | 41,952,000 | 32,579,000 | 41,195,000 |
Total | $88,673,000 | $147,872,000 | $129,244,000 |
Recovered_Sheet4
Components Of Other Comprehensive Income/(Loss) (Accumulated Other Comprehensive Income/(Loss))(Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Components Of Other Comprehensive Income/(Loss) [Abstract] | |||
Accumulated other comprehensive income/(loss), Before-Tax Amount | ($6,033,000) | ($26,587,000) | |
Accumulated other comprehensive income/(loss), Tax Benefit/(Expense) | 2,367,000 | 10,400,000 | |
Accumulated other comprehensive income/(loss), Accumulated Other Comprehensive Income/(Loss) Beginning Balance | -150,009,000 | -146,343,000 | -130,156,000 |
Other comprehensive income: | |||
Fair value adjustments on securities available-for-sale, Before-Tax Amount | 47,957,000 | -108,703,000 | -19,016,000 |
Fair value adjustments on securities available-for-sale arising during the period, Tax Benefit/(Expense) | -18,135,000 | 41,935,000 | 7,397,000 |
Fair value adjustments on securities available-for-sale arising during the period, Accumulated Other Comprehensive Income/(Loss) | 29,822,000 | -66,768,000 | -11,619,000 |
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss), Before-Tax Amount | 0 | 451,000 | |
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss), Tax (Benefit)/Expense | -174,000 | 128,000 | |
Adjustment for net (gain)/loss on securities available-for-sale included in Net income/(loss), Accumulated Other Comprehensive Income/(Loss) | 0 | 277,000 | -200,000 |
Pension and post retirement plans: | |||
Net actuarial gain/(loss) arising during the period, Before-Tax Amount | -115,976,000 | 81,456,000 | -45,110,000 |
Net actuarial gain/(loss) arising during the period, Tax Benefit/(Expense) | 44,803,000 | -31,392,000 | 17,906,000 |
Net actuarial gain/(loss) arising during the period | -71,173,000 | 50,064,000 | -27,204,000 |
Prior service credit/(cost) arising during period, Tax Benefit/(Expense) | -4,115,000 | ||
Prior service credit/(cost) arising during the period | 0 | 6,563,000 | 0 |
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost, Before-Tax Amount | 5,075,000 | 10,085,000 | 37,867,000 |
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net periodic benefit cost, Tax Benefit/(Expense) | -1,961,000 | -3,887,000 | -15,031,000 |
Amortization of prior service cost, transition asset/obligation, and net actuarial gain/(loss) included in net period benefit cost, Accumulated Other Comprehensive Income/(Loss) | 3,114,000 | 6,198,000 | 22,836,000 |
Accumulated other comprehensive income/(loss), Before-Tax Amount | -62,944,000 | -6,033,000 | -26,587,000 |
Accumulated other comprehensive income/(loss), Tax Benefit/(Expense) | 24,707,000 | 2,367,000 | 10,400,000 |
Accumulated other comprehensive income/(loss), Accumulated Other Comprehensive Income/(Loss) Ending Balance | ($188,246,000) | ($150,009,000) | ($146,343,000) |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2012 | |
Valuation Allowance [Line Items] | ||||
Valuation allowance | $44,584,000 | $57,752,000 | ||
Unrecognized tax benefits | 5,207,000 | 6,621,000 | 17,638,000 | |
Reasonably possible decrease in unrecognized tax benefits | -2,100,000 | |||
Payment of interest accrued | 900,000 | 2,000,000 | ||
Gross deferred tax assets | 414,992,000 | 463,469,000 | ||
Gross deferred tax liabilities | 86,044,000 | 130,007,000 | ||
Deferred Tax Assets Net | 370,408,000 | 405,717,000 | ||
Capital Gains Carryforward Period | 5 years | |||
Capital Loss Carryforward [Member] | ||||
Valuation Allowance [Line Items] | ||||
Valuation allowance | $44,400,000 |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Consolidated Statements Of Income And Equity) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Income tax expense/(benefit) related to continuing operations | $78,501,000 | ($32,169,000) | ($85,262,000) |
Income tax expense/(benefit) related to discontinued operations | 0 | 343,000 | 93,000 |
Income tax expense/(benefit) related to, Pension and postretirement plans | -42,842,000 | 39,394,000 | -2,875,000 |
Income tax expense/(benefit) related to, Unrealized gains/(losses) on investment securities available-for-sale | 18,135,000 | -41,761,000 | -7,525,000 |
Income tax expense/(benefit) related to, Share-based compensation | 7,220,000 | 1,569,000 | 4,140,000 |
Total | $61,014,000 | ($32,624,000) | ($91,429,000) |
Income_Taxes_Schedule_Of_Compo1
Income Taxes (Schedule Of Components Of Income Tax Expense/(Benefit))(Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Current, Federal | $74,193,000 | ($9,011,000) | ($5,304,000) |
Current, State | -3,461,000 | -13,792,000 | -9,725,000 |
Current, Foreign | 1,000 | 10,000 | 33,000 |
Deferred, Federal | 3,364,000 | 4,169,000 | -59,417,000 |
Deferred, State | 4,390,000 | -13,508,000 | -10,848,000 |
Deferred, Foreign | 14,000 | -37,000 | -1,000 |
Total income tax expense/(benefit) | $78,501,000 | ($32,169,000) | ($85,262,000) |
Income_Taxes_Schedule_Of_Compu
Income Taxes (Schedule Of Computation Of Income Tax Expense Differed From The Amounts Computed By Applying Of Statutory Federal Income Tax Rate To Income/(Loss) Before Income Taxes)(Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Federal income tax rate | 35.00% | 35.00% | 35.00% |
Tax computed at statutory rate | $108,343,000 | $2,923,000 | ($35,597,000) |
Increase/(decrease) resulting from: | |||
State income taxes | 8,424,000 | -2,556,000 | -4,234,000 |
Bank owned life insurance ("BOLI") | -6,671,000 | -6,646,000 | -7,428,000 |
401(k) - employee stock ownership plan ("ESOP") | -659,000 | -568,000 | -155,000 |
Tax-exempt interest | -5,798,000 | -5,094,000 | -4,469,000 |
Non-deductible expenses | 829,000 | 963,000 | 1,175,000 |
Tax credits | -11,392,000 | -13,340,000 | -18,125,000 |
Subsidiary liquidations | 0 | 0 | -6,733,000 |
Change in valuation allowance - DTA | -13,168,000 | -4,427,000 | 0 |
Other changes in unrecognized tax benefits | -1,570,000 | -5,106,000 | -8,981,000 |
Other | 163,000 | 1,682,000 | -715,000 |
Total income tax expense/(benefit) | $78,501,000 | ($32,169,000) | ($85,262,000) |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets And Deferred Tax Liabilities Due To Temporary Differences)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred tax assets: | ||
Loss reserves | $100,569,000 | $94,170,000 |
Employee benefits | 136,007,000 | 97,246,000 |
Investment in partnerships | 25,861,000 | 29,856,000 |
Foreclosed property | 1,205,000 | 901,000 |
Accrued expenses | 31,613,000 | 25,158,000 |
Investment in AFS securities | 0 | 6,874,000 |
Capital loss carryforwards | 44,445,000 | 51,876,000 |
Credit carryforwards | 39,196,000 | 98,919,000 |
Federal NOL carryforwards | 0 | 4,184,000 |
State NOL carryforwards | 15,279,000 | 29,422,000 |
Unrecognized tax benefits | 1,915,000 | 3,103,000 |
Other | 18,902,000 | 21,760,000 |
Gross deferred tax assets | 414,992,000 | 463,469,000 |
Valuation allowance | -44,584,000 | -57,752,000 |
Deferred tax assets after valuation allowance | 370,408,000 | 405,717,000 |
Deferred tax liabilities: | ||
Capitalized mortgage servicing rights | 337,000 | 25,245,000 |
Depreciation and amortization | 22,353,000 | 46,209,000 |
Federal Home Loan Bank stock | 9,383,000 | 17,426,000 |
Investment in AFS securities | 11,639,000 | 0 |
Other intangible assets | 30,888,000 | 28,417,000 |
Prepaid expenses | 9,874,000 | 9,752,000 |
Other | 1,570,000 | 2,958,000 |
Gross deferred tax liabilities | 86,044,000 | 130,007,000 |
Net deferred tax assets | $284,364,000 | $275,710,000 |
Income_Taxes_Schedule_Of_Rollf
Income Taxes (Schedule Of Rollforward Of Unrecognized Tax Benefits)(Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ||
Balance, Beginning | $6,621,000 | $17,638,000 |
Increases related to prior year tax positions | 960,000 | 0 |
Decreases related to prior year tax positions | 1,688,000 | |
Increases related to current year tax positions | 868,000 | |
Settlements | 7,386,000 | |
Lapse of statutes | 3,242,000 | 1,943,000 |
Balance, Ending | $5,207,000 | $6,621,000 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Income (Loss) from Continuing Operations | $213,323,000 | $23,216,000 | ($27,907,000) |
Effect of dilutive securities | 1,738,000 | 1,822,000 | 0 |
Dilutive shares | 236,735,000 | 239,794,000 | 248,349,000 |
Parent Company [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Income (Loss) from Continuing Operations | $219,500,000 | $29,100,000 | ($27,900,000) |
Employee Stock Options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Stock options, weighted average exercise price | $23.46 | $21.95 | $22.07 |
Shares excluded from computation of earnings per share | 4,600,000 | 7,900,000 | 10,000,000 |
Other Equity Awards [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from computation of earnings per share | 3,500,000 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Reconciliation Of The Numerators Used In Calculating Earnings/(Loss) Per Share) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Earnings Per Share [Abstract] | ||||||
Income/(loss) from continuing operations | $231,050,000 | $40,519,000 | ($16,443,000) | |||
Income/(loss) from discontinued operations, net of tax | 0 | [1] | 548,000 | [1] | 148,000 | [1] |
Net income/(loss) | 231,050,000 | 41,067,000 | -16,295,000 | |||
Net income attributable to noncontrolling interest | 11,527,000 | 11,465,000 | 11,464,000 | |||
Net income/(loss) attributable to controlling interest | 219,523,000 | 29,602,000 | -27,759,000 | |||
Preferred stock dividends | 6,200,000 | 5,838,000 | 0 | |||
Net income/(loss) available to common shareholders | 213,323,000 | 23,764,000 | -27,759,000 | |||
Net income/(loss) from continuing operations available to common shareholders | $213,323,000 | $23,216,000 | ($27,907,000) | |||
[1] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Income/(loss) from discontinued operations, net of tax have been attributed solely to FHN as the controlling interest holder. |
Earnings_Per_Share_Schedule_Of1
Earnings Per Share (Schedule Of Reconciliation Of Weighted Average Common Shares To Diluted Average Common Shares) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Earnings Per Share [Abstract] | |||
Weighted average common shares outstanding - basic | 234,997,000 | 237,972,000 | 248,349,000 |
Effect of dilutive securities | 1,738,000 | 1,822,000 | 0 |
Weighted average common shares outstanding - diluted | 236,735,000 | 239,794,000 | 248,349,000 |
Earnings_Per_Share_Schedule_Of2
Earnings Per Share (Schedule Of Reconciliation Of Earnings/(Loss) Per Common And Diluted Share) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Earnings/(loss) per common share: | |||
Income/(loss) per share from continuing operations available to common shareholders | $0.91 | $0.10 | ($0.11) |
Net income/(loss) per share available to common shareholders | $0.91 | $0.10 | ($0.11) |
Diluted earnings/(loss) per common share: | |||
Diluted income/(loss) per share from continuing operations available to common shareholders | $0.90 | $0.10 | ($0.11) |
Diluted income/(loss) per share available to common shareholders | $0.90 | $0.10 | ($0.11) |
Contingencies_And_Other_Disclo2
Contingencies And Other Disclosures (Narrative I) (Details) (USD $) | 12 Months Ended | 32 Months Ended | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2008 | Dec. 31, 2007 | Dec. 25, 2014 | |
number | number | |||||
Loss Contingencies [Line Items] | ||||||
Subservicer expenditure reimbursement amount disputed | $34,900,000 | |||||
Stated percentage of voting rights | 25.00% | |||||
Estimated Litigation Liability | 56,200,000 | |||||
Number of GSEs to which conventional conforming single-family mortgage loans were predominately sold to | 2 | |||||
Number of years of the subservicing arrangement | 3 years | |||||
Percent Of Repurchase Make Whole Claims Related To Private Whole Loan Sales | 45.00% | |||||
Litigation And Regulatory Matters | -2,720,000 | 63,654,000 | 33,313,000 | |||
Professional Fees | 44,205,000 | 53,359,000 | 38,750,000 | |||
Mortgage Securitization Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Investment in proprietary securitizations subject to indemnifications | 331,400,000 | |||||
Investment in proprietary securitizations subject to lawsuits | 225,700,000 | |||||
Debit Transaction Sequencing Matter [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Actual damages sought by plaintiff | 5,000,000 | |||||
Federal Home Loan Bank San Francisco [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Original combined certificate balances of investments subject to subpoena | 501,100,000 | |||||
Current combined certificate balances of investments subject to subpoena | 137,800,000 | |||||
F H Proprietary Securitization [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of securitization trusts inactive | 80 | |||||
Remaining balance in mortgage loans | 6,100,000,000 | |||||
Federal Home Loan Bank Of Atlanta [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Original combined certificate balances of investments subject to subpoena | 56,100,000 | |||||
Current combined certificate balances of investments subject to subpoena | 6,700,000 | |||||
FHA Insured | ||||||
Loss Contingencies [Line Items] | ||||||
Number Of Loans Originated From 2006 to 2008 Divestiture Of The National Mortgage Platform | 47,817 | |||||
Amount Of Loans Originated From 2006 to 2008 Divestiture Of The National Mortgage Platform | 8,200,000,000 | |||||
Alternative Mortgage Loans [Member] | F H Proprietary Securitization [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Remaining balance in mortgage loans | 4,200,000,000 | |||||
Jumbo Mortgage Loans [Member] | F H Proprietary Securitization [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Remaining balance in mortgage loans | 1,900,000,000 | |||||
Maximum | ||||||
Loss Contingencies [Line Items] | ||||||
Estimated reasonably possible losses in excess of currently established liabilities | 120,000,000 | |||||
Minimum | ||||||
Loss Contingencies [Line Items] | ||||||
Estimated reasonably possible losses in excess of currently established liabilities | 0 | |||||
Investments | Mortgage Securitization Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Ending certificate balance of the investments subject to lawsuits | $195,700,000 | |||||
Investments percentage performing | 85.00% | |||||
Cumulative losses on investments, percentage of unpaid balance | 6.00% |
Contingencies_And_Other_Disclo3
Contingencies And Other Disclosures (Narrative II) (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||||
Share data in Millions, unless otherwise specified | Dec. 31, 2014 | Oct. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Mar. 31, 2008 |
Loss Contingencies [Line Items] | ||||||
Unpaid principal balance of servicing portfolio | $252,800,000 | $15,000,000,000 | ||||
Amount disputed related to various items for transfers of subservicers | 8,600,000 | |||||
Loan-to-value ratio at origination | 80.00% | |||||
Accrued losses on loan repurchase exposure | 120,100,000 | 165,800,000 | ||||
Visa Class B Shares [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of Visa Class B shares | 1.1 | 2.4 | ||||
Historical cost | 0 | |||||
Estimated conversion ratio | 41.00% | |||||
Derivative liability | 5,200,000 | 2,900,000 | ||||
Additional amount deposited into escrow account by Visa | 450,000,000 | |||||
Contingent liability | 800,000 | |||||
Cash payment to counterparty | $2,400,000 |
Contingencies_And_Other_Disclo4
Contingencies And Other Disclosures (Schedule Of Original Purchase Amount Of Investments Subject To Litigation) (Details) (USD $) | Dec. 31, 2014 | Dec. 25, 2014 |
In Thousands, unless otherwise specified | ||
Alternativea Mortgage Loan Pools [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | $477,035 | |
Ending balance of the investments at issue | 170,668 | |
Alternativea Mortgage Loan Pools [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Alternativea Mortgage Loan Pools [Member] | 2005 [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 200,117 | |
Ending balance of the investments at issue | 51,564 | |
Alternativea Mortgage Loan Pools [Member] | 2005 [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Alternativea Mortgage Loan Pools [Member] | 2006 [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 77,906 | |
Ending balance of the investments at issue | 33,066 | |
Alternativea Mortgage Loan Pools [Member] | 2006 [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Alternativea Mortgage Loan Pools [Member] | 2007 [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 199,012 | |
Ending balance of the investments at issue | 86,038 | |
Alternativea Mortgage Loan Pools [Member] | 2007 [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Jumbo Mortgage Loans [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 80,000 | |
Ending balance of the investments at issue | 25,053 | |
Jumbo Mortgage Loans [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Jumbo Mortgage Loans [Member] | 2005 [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 30,000 | |
Ending balance of the investments at issue | 10,342 | |
Jumbo Mortgage Loans [Member] | 2005 [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Jumbo Mortgage Loans [Member] | 2006 [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Jumbo Mortgage Loans [Member] | 2006 [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | 0 | |
Jumbo Mortgage Loans [Member] | 2007 [Member] | Senior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 50,000 | |
Ending balance of the investments at issue | 14,711 | |
Jumbo Mortgage Loans [Member] | 2007 [Member] | Junior Investor Rank [Member] | ||
Loss Contingencies [Line Items] | ||
Original purchase amounts of the investments at issue | 0 | |
Ending balance of the investments at issue | $0 |
Pension_Savings_And_Other_Empl2
Pension, Savings, And Other Employee Benefits (Narrative) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Estimated social security benefits age | 65 years | |||
Minimum required outstanding par value to each issue of bonds | $250,000,000 | |||
Threshold amortization, percentage of projected benefit obligation | 10.00% | |||
Threshold amortization, percentage of market-related value of plan assets | 10.00% | |||
Common stock held by the plan | 234,220,000 | 236,370,000 | 243,598,000 | 257,468,000 |
Time period assumption for expected return of pension plan assets | 30 years | |||
Standard deivation from average yield | 2 | |||
Increase in projected benefit obligations | 8.00% | |||
Qualified Pension Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit Obligations, Expected long-term rate of return | 5.85% | 6.60% | 6.05% | |
Postretirement Benefit Post 1/1/1993 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit Obligations, Expected long-term rate of return | 6.35% | 6.95% | 6.05% | |
Postretirement Benefit Prior To 1/1/1993 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit Obligations, Expected long-term rate of return | 2.30% | 2.85% | 3.93% | |
Maximum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Time period used to determine discount rate for defined benefit plan | 30 years | |||
Minimum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Time period used to determine discount rate for defined benefit plan | 6 months | |||
Plan Assumptions Two Thousand Fifteen [Member] | Qualified Pension Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit Obligations, Expected long-term rate of return | 5.85% | |||
Plan Assumptions Two Thousand Fifteen [Member] | Postretirement Benefit Post 1/1/1993 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit Obligations, Expected long-term rate of return | 6.35% | |||
Plan Assumptions Two Thousand Fifteen [Member] | Postretirement Benefit Prior To 1/1/1993 [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefit Obligations, Expected long-term rate of return | 2.30% | |||
Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pension assets, target allocation | 32.50% | 32.50% | ||
Fixed Income And Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pension assets, target allocation | 67.50% | 67.50% | ||
Non Qualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Contributions to non-qualified plans | 5,000,000 | |||
Expected pension contribution | 5,000,000 | |||
Funded status of the plans - underfunded | -50,000,000 | -46,900,000 | ||
Non Qualified Plans [Member] | First Horizon National Corporation | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Common stock held by the plan | 792,607 | 792,607 | ||
Savings Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer investment in qualified defined contribution plan | 100.00% | 100.00% | 50.00% | |
Maximum percent of employee pre-tax contributions that may be matched by the Company | 6.00% | 6.00% | 6.00% | |
Total number of allocated shares held by the ESOP | 9,160,613 | |||
Qualified Pension [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Funded status of the plans - underfunded | -114,300,000 | -6,300,000 | ||
Flexible Benefits Contribution [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employee investment in qualified defined contribution plan | $20,400,000 | 20,400,000 | 16,800,000 |
Pensions_Savings_And_Other_Emp
Pensions, Savings, And Other Employee Benefits (Schedule Of Actuarial Assumptions Used In The Defined Benefit Pension Plan And The Other Employee Benefit Plans)(Details) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Rate of compensation increase | 0.00% | [1] | 0.00% | [1] | 4.10% |
Net Periodic Benefit Cost, Rate of compensation increase | 0.00% | [1] | 0.00% | [1] | 4.10% |
Qualified Pension [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Discount rate | 4.30% | 5.15% | 4.35% | ||
Net Periodic Benefit Cost, Discount rate | 5.15% | 4.35% | 5.10% | ||
Nonqualified Pension [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Discount rate | 4.00% | 4.70% | 3.85% | ||
Net Periodic Benefit Cost, Discount rate | 4.70% | 3.85% | 4.75% | ||
Other Nonqualified Pension [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Discount rate | 3.35% | 4.05% | 3.20% | ||
Net Periodic Benefit Cost, Discount rate | 4.05% | 3.20% | 4.40% | ||
Postretirement Benefit [Member] | Maximum [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Discount rate | 4.45% | 5.35% | 4.55% | ||
Net Periodic Benefit Cost, Discount rate | 5.35% | 4.55% | 5.25% | ||
Postretirement Benefit [Member] | Minimum [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Discount rate | 3.45% | 4.10% | 3.80% | ||
Net Periodic Benefit Cost, Discount rate | 4.10% | 3.80% | 4.75% | ||
Qualified pension/postretirement benefits [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Expected long-term rate of return | 5.85% | 6.60% | 6.05% | ||
Net Periodic Benefit Cost, Expected long-term rate of return | 6.60% | 6.05% | 6.90% | ||
Postretirement Benefit Post 1/1/1993 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Expected long-term rate of return | 6.35% | 6.95% | 6.05% | ||
Net Periodic Benefit Cost, Expected long-term rate of return | 6.95% | 6.05% | 6.90% | ||
Postretirement Benefit Prior To 1/1/1993 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Benefit Obligations, Expected long-term rate of return | 2.30% | 2.85% | 3.93% | ||
Net Periodic Benefit Cost, Expected long-term rate of return | 2.85% | 3.93% | 4.49% | ||
[1] | (a) Due to the pension plan freeze as of December 31, 2012, the rate of compensation increase no longer applies to the qualified pension plan. |
Pension_Savings_And_Other_Empl3
Pension, Savings, And Other Employee Benefits (Schedule Of Components Of Net Periodic Benefit Cost) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Pension Plans Defined Benefit [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | $56,000 | [1] | $63,000 | [1] | $14,800,000 | [1] |
Interest cost | 34,915,000 | 32,361,000 | 33,040,000 | |||
Expected return on plan assets | -40,093,000 | -34,946,000 | -39,813,000 | |||
Amortization of unrecognized, Transition obligation | 0 | 0 | 0 | |||
Amortization of unrecognized, Prior service cost/(credit) | 346,000 | 353,000 | 398,000 | |||
Amortization of unrecognized, Actuarial (gain)/loss | 6,898,000 | [2] | 9,832,000 | [2] | 35,999,000 | [2] |
Net periodic benefit cost | 2,122,000 | 7,663,000 | 44,424,000 | |||
ASC 715 settlement expense | 0 | [3] | 370,000 | [3] | 1,231,000 | [3] |
ASC 715 special termination benefits | 1,009,000 | [4] | 0 | [4] | 0 | [4] |
Total periodic benefit costs | 3,131,000 | 8,033,000 | 45,655,000 | |||
Other Postretirement Benefit Plans Defined Benefit [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Service cost | 207,000 | [1] | 460,000 | [1] | 467,000 | [1] |
Interest cost | 1,754,000 | 2,033,000 | 2,298,000 | |||
Expected return on plan assets | -1,025,000 | -816,000 | -915,000 | |||
Amortization of unrecognized, Transition obligation | 0 | 0 | 736,000 | |||
Amortization of unrecognized, Prior service cost/(credit) | -1,163,000 | -299,000 | -9,000 | |||
Amortization of unrecognized, Actuarial (gain)/loss | -1,006,000 | [2] | -171,000 | [2] | -488,000 | [2] |
Net periodic benefit cost | -1,233,000 | 1,207,000 | 2,089,000 | |||
ASC 715 settlement expense | 0 | [3] | 0 | [3] | 0 | [3] |
ASC 715 special termination benefits | 0 | [4] | 0 | [4] | 0 | [4] |
Total periodic benefit costs | ($1,233,000) | $1,207,000 | $2,089,000 | |||
[1] | 2014 and 2013 decline in total pension benefits service cost reflects the freeze of the pension plans effective December 31, 2012. | |||||
[2] | 2014 and 2013 decline in recognition of total pension benefits actuarial loss driven by the change in amortization term from the estimated average remaining service period of active employees to the estimated average remaining life expectancy of the remaining participants in conjunction with the freeze of the pension plans on December 31, 2012. | |||||
[3] | In 2013 and 2012, lump sum payments under the supplemental retirement plan triggered settlement accounting. In accordance with its practice, FHN performed a remeasurement of the plan in conjunction with the settlement and realized an ASC 715 settlement expense. | |||||
[4] | In 2014, a one-time special termination benefits charge was recognized related to recalculation of a participantbs benefit under a non-qualified plan upon retirement. |
Pension_Savings_And_Other_Empl4
Pension, Savings, And Other Employee Benefits (Schedule of Plans' Benefit Obligations And Plan Assets)(Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Other assets | $1,387,755,000 | $1,685,384,000 | ||||
Other liabilities | -644,681,000 | -603,898,000 | ||||
Pension Plans Defined Benefit [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Benefit obligation, beginning of year | 693,716,000 | 766,947,000 | ||||
Service cost | 56,000 | [1] | 63,000 | [1] | 14,800,000 | [1] |
Interest cost | 34,915,000 | 32,361,000 | 33,040,000 | |||
Plan amendments | 0 | 0 | ||||
Actuarial (gain)/loss | 157,619,000 | [2],[3] | -78,617,000 | [2],[3] | ||
Actual benefits paid | -27,462,000 | -27,038,000 | ||||
Expected Medicare Part D reimbursement | 0 | 0 | ||||
Special termination benefits | 1,009,000 | 0 | ||||
Benefit obligation, end of year | 859,853,000 | 693,716,000 | 766,947,000 | |||
Fair value of plan assets, beginning of year | 640,605,000 | 633,972,000 | ||||
Actual return on plan assets | 78,491,000 | 28,699,000 | ||||
Employer contributions | 3,915,000 | 4,972,000 | ||||
Actual benefits paid - settlement payments | 0 | -1,160,000 | ||||
Actual benefits paid - other payments | -27,462,000 | -25,878,000 | ||||
Fair value of plan assets, end of year | 695,549,000 | 640,605,000 | 633,972,000 | |||
Funded status of the plans - underfunded | -164,304,000 | -53,111,000 | ||||
Other assets | 0 | 0 | ||||
Other liabilities | -164,304,000 | -53,111,000 | ||||
Net asset/(liability) at end of year | -164,304,000 | -53,111,000 | ||||
Other Postretirement Benefit Plans Defined Benefit [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Benefit obligation, beginning of year | 38,464,000 | 54,716,000 | ||||
Service cost | 207,000 | [1] | 460,000 | [1] | 467,000 | [1] |
Interest cost | 1,754,000 | 2,033,000 | 2,298,000 | |||
Plan amendments | 0 | -10,678,000 | ||||
Actuarial (gain)/loss | -3,293,000 | [2],[3] | -7,237,000 | [2],[3] | ||
Actual benefits paid | -1,804,000 | -1,030,000 | ||||
Expected Medicare Part D reimbursement | 0 | 200,000 | ||||
Special termination benefits | 0 | 0 | ||||
Benefit obligation, end of year | 35,328,000 | 38,464,000 | 54,716,000 | |||
Fair value of plan assets, beginning of year | 16,360,000 | 14,288,000 | ||||
Actual return on plan assets | 973,000 | 2,659,000 | ||||
Employer contributions | 1,110,000 | 443,000 | ||||
Actual benefits paid - settlement payments | -1,804,000 | -1,030,000 | ||||
Actual benefits paid - other payments | 0 | 0 | ||||
Fair value of plan assets, end of year | 16,639,000 | 16,360,000 | 14,288,000 | |||
Funded status of the plans - underfunded | -18,689,000 | -22,104,000 | ||||
Other assets | 11,882,000 | 9,158,000 | ||||
Other liabilities | -30,571,000 | -31,262,000 | ||||
Net asset/(liability) at end of year | ($18,689,000) | ($22,104,000) | ||||
[1] | 2014 and 2013 decline in total pension benefits service cost reflects the freeze of the pension plans effective December 31, 2012. | |||||
[2] | 2013 change in other benefits actuarial (gain)/loss driven by a change in the retiree medical plan. | |||||
[3] | 2014 amounts primarily affected by decrease in the discount rates and consideration of the new life expectancy tables. |
Pension_Savings_And_Other_Empl5
Pension, Savings, And Other Employee Benefits (Schedule Of Balances Reflected In Accumulated Other Comprehensive Income On a Pre-tax Basis)(Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Pension Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior service cost/(credit) | $581,000 | $927,000 |
Net actuarial (gain)/loss | 354,264,000 | 241,941,000 |
Total | 354,845,000 | 242,868,000 |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior service cost/(credit) | -8,577,000 | -9,740,000 |
Net actuarial (gain)/loss | -10,664,000 | -8,429,000 |
Total | ($19,241,000) | ($18,169,000) |
Pension_Savings_And_Other_Empl6
Pension, Savings, And Other Employee Benefits (Schedule Of Amounts Recognized In Other Comprehensive Income)(Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Pension Plans Defined Benefit [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Net actuarial (gain)/loss arising during measurement period | $119,217,000 | [1] | ($72,376,000) | [1] | |
Prior sercive cost arising during measurement period | 0 | 0 | |||
Items amortized during the measurement period, Net transition (asset)/obligation | 0 | 0 | 0 | ||
Items amortized during the measurement period, Prior service credit/(cost) | -346,000 | -353,000 | -398,000 | ||
Items amortized during the measurement period, Net actuarial (gain)/loss | -6,898,000 | -10,202,000 | |||
Total recognized in other comprehensive income | 111,973,000 | -82,931,000 | |||
Other Postretirement Benefit Plans Defined Benefit [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Net actuarial (gain)/loss arising during measurement period | -3,241,000 | [1] | -9,080,000 | [1] | |
Prior sercive cost arising during measurement period | 0 | -10,678,000 | |||
Items amortized during the measurement period, Net transition (asset)/obligation | 0 | 0 | -736,000 | ||
Items amortized during the measurement period, Prior service credit/(cost) | 1,163,000 | 299,000 | 9,000 | ||
Items amortized during the measurement period, Net actuarial (gain)/loss | 1,006,000 | 171,000 | |||
Total recognized in other comprehensive income | ($1,072,000) | ($19,288,000) | |||
[1] | 2014 amounts primarily affected by decrease in the discount rates and consideration of the new life expectancy tables. |
Pension_Savings_And_Other_Empl7
Pension, Savings, And Other Employee Benefits (Schedule Of Estimated Net Actuarial (Gain)/Loss, Prior Service Cost/(Credit), And Transition (Asset)/Obligation)(Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Pension Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior servce cost/(credit) | $332,000 | $346,000 |
Net actuarial (gain)/loss | 9,582,000 | 6,539,000 |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Prior servce cost/(credit) | -1,163,000 | -1,163,000 |
Net actuarial (gain)/loss | ($976,000) | ($755,000) |
Pension_Savings_And_Other_Empl8
Pension, Savings, And Other Employee Benefits (Schedule Of Expected Benefit Payment)(Details) (USD $) | Dec. 31, 2014 |
Pension Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2015 | $29,897,000 |
2016 | 32,497,000 |
2017 | 34,434,000 |
2018 | 36,405,000 |
2019 | 38,266,000 |
2020 - 2024 | 219,771,000 |
Other Postretirement Benefit Plans Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2015 | 1,427,000 |
2016 | 1,462,000 |
2017 | 1,502,000 |
2018 | 1,548,000 |
2019 | 1,597,000 |
2020 - 2024 | $8,831,000 |
Pension_Savings_And_Other_Empl9
Pension, Savings, And Other Employee Benefits (Schedule Of Fair Value Of Assets And Liabilities)(Details) (Pension Plan [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | $695,549,000 | $640,605,000 |
Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 16,620,000 | 73,181,000 |
Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 678,929,000 | 567,424,000 |
Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Cash Equivalents And Money Market Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 5,817,000 | 9,347,000 |
Cash Equivalents And Money Market Funds [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 5,817,000 | 9,347,000 |
Cash Equivalents And Money Market Funds [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Cash Equivalents And Money Market Funds [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Equity Securities [Member] | U S Mid And Small Capital [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 10,803,000 | 63,834,000 |
Equity Securities [Member] | U S Mid And Small Capital [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 10,803,000 | 63,834,000 |
Equity Securities [Member] | U S Mid And Small Capital [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Equity Securities [Member] | U S Mid And Small Capital [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 3,684,000 | 4,585,000 |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 3,684,000 | 4,585,000 |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Fixed Income Securities [Member] | Foreign Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 230,808,000 | 199,896,000 |
Fixed Income Securities [Member] | Foreign Corporate Debt Securities [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Fixed Income Securities [Member] | Foreign Corporate Debt Securities [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 230,808,000 | 199,896,000 |
Fixed Income Securities [Member] | Foreign Corporate Debt Securities [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Common And Collective Funds [Member] | U S Mid And Small Capital [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 39,449,000 | |
Common And Collective Funds [Member] | U S Mid And Small Capital [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | |
Common And Collective Funds [Member] | U S Mid And Small Capital [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 39,449,000 | |
Common And Collective Funds [Member] | U S Mid And Small Capital [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | |
Common And Collective Funds [Member] | Foreign Corporate Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 231,666,000 | 205,580,000 |
Common And Collective Funds [Member] | Foreign Corporate Debt Securities [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Common And Collective Funds [Member] | Foreign Corporate Debt Securities [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 231,666,000 | 205,580,000 |
Common And Collective Funds [Member] | Foreign Corporate Debt Securities [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Common And Collective Funds [Member] | U S Large Capital [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 119,234,000 | 102,702,000 |
Common And Collective Funds [Member] | U S Large Capital [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Common And Collective Funds [Member] | U S Large Capital [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 119,234,000 | 102,702,000 |
Common And Collective Funds [Member] | U S Large Capital [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Common And Collective Funds [Member] | International [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 54,088,000 | 54,661,000 |
Common And Collective Funds [Member] | International [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 0 | 0 |
Common And Collective Funds [Member] | International [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | 54,088,000 | 54,661,000 |
Common And Collective Funds [Member] | International [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | $0 | $0 |
Recovered_Sheet5
Pension, Savings, And Other Employee Benefits (Schedule Of Retiree Medical Plan Assets By Asset Category)(Details) (Retiree Medical Plan [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | $16,639,000 | $16,360,000 |
Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 16,639,000 | 15,826,000 |
Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 534,000 |
Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Cash Equivalents And Money Market Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 425,000 | 600,000 |
Cash Equivalents And Money Market Funds [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 425,000 | 600,000 |
Cash Equivalents And Money Market Funds [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Cash Equivalents And Money Market Funds [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Equity Securities [Member] | U S Small Capital [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 1,613,000 | |
Equity Securities [Member] | U S Small Capital [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 1,613,000 | |
Equity Securities [Member] | U S Small Capital [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | |
Equity Securities [Member] | U S Small Capital [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | |
Equity Mutual Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 9,627,000 | 9,102,000 |
Equity Mutual Funds [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 9,627,000 | 9,102,000 |
Equity Mutual Funds [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Equity Mutual Funds [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Fixed Income Mutual Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 6,587,000 | 4,511,000 |
Fixed Income Mutual Funds [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 6,587,000 | 4,511,000 |
Fixed Income Mutual Funds [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Fixed Income Mutual Funds [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | 0 |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 119,000 | |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 119,000 | |
Fixed Income Securities [Member] | U S Treasury Securities [Member] | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | |
Fixed Income Securities [Member] | Corporate and foreign bonds | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 415,000 | |
Fixed Income Securities [Member] | Corporate and foreign bonds | Level 1 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 0 | |
Fixed Income Securities [Member] | Corporate and foreign bonds | Level 2 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | 415,000 | |
Fixed Income Securities [Member] | Corporate and foreign bonds | Level 3 | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of retiree medical plan assets | $0 |
Stock_Options_Restricted_Stock2
Stock Options, Restricted Stock Incentive, And Dividend Revinvestment Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares available for grants | 8,782,972 | ||||
Compensation cost included in income from continuing operations for stock option and restricted stock plans | $11,351,000 | $16,144,000 | $16,201,000 | ||
Total income tax benefits recognized in income statements | 4,400,000 | 6,200,000 | 6,200,000 | ||
Stock options granted | 592,551 | 866,742 | 1,248,685 | 0 | 0 |
Weighted average fair value of stock option at grant date | $3.50 | $3.21 | $3.80 | ||
Duration of performance evaluation | 3 years | ||||
Performance Condition Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Vesting Period | 3 years | ||||
Duration of performance evaluation | 3 years | 3 years | 3 years | ||
Market Condition Award [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Vesting Period | 5 years | ||||
Stock Option Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Options granted expiration | P7Y | ||||
Vesting Period | 4 years | ||||
Intrinsic value of options exercised | 400,000 | ||||
Parent Company [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Compensation cost included in income from continuing operations for stock option and restricted stock plans | 11,351,000 | 16,144,000 | 16,201,000 | ||
Restricted Stock [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares available for grants | 8,576,003 | ||||
Total grant date fair value of shares vested | 15,500,000 | 13,800,000 | 12,100,000 | ||
Restricted Stock [Member] | Director Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares granted to non-employee director, prior to 2007 | 8,930 | ||||
Employee Stock Options [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized compensation cost of nonvested restricted stock plans and stock options | 1,800,000 | ||||
Recognizable weighted-average period of unrecognized compensation cost | 2 years 6 months | ||||
Restricted Stock Units RSU [Member] | Director Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Restriction lapsing rate for grants of restricted stock, awarded prior to 2007, to non-employee directors | 10.00% | ||||
Value of annual equity awards to non-employee directors | 45,000 | 45,000 | |||
Stock Options Included In Deferral Program Granted Prior To January Two Two Thousand Four [Member] | Stock Option Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Options granted expiration | P20Y | ||||
Stock Options Included In Deferral Program Granted After January Two Two Thousand Four [Member] | Stock Option Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Options granted expiration | P10Y | ||||
Nonvested Restricted Stock Plans [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized compensation cost of nonvested restricted stock plans and stock options | 14,200,000 | ||||
Recognizable weighted-average period of unrecognized compensation cost | 2 years 5 months | ||||
2010 Units | Performance Condition Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Amount of restricted stock or units to vest | 25.00% | 25.00% | |||
Percentage of performance conditions achieved | 50.00% | ||||
Amount Of Restricted Stock Or Units Forfeited | 50.00% | ||||
2011 Units | Performance Condition Awards [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Percentage of performance conditions achieved | 87.50% | ||||
Maximum | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Quarterly value of shares available for purchase under dividend reinvestment and stock purchase plan | 10,000 | ||||
Minimum | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Quarterly value of shares available for purchase under dividend reinvestment and stock purchase plan | $25 |
Stock_Option_Restricted_Stock_
Stock Option, Restricted Stock Incentive, And Dividend Reinvestment Plans (Summary Of Restricted And Performance Stock And Unit Activity)(Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Benefits And Share Based Compensation [Abstract] | |||
Nonvested on January 1, 2014, Shares/Units | 4,174,196 | ||
Nonvested on January 1, 2014, Weighted average grant date fair value | $10.51 | ||
Shares/units granted, Shares/Units | 874,242 | ||
Shares/units granted, Weighted average grant date fair value | $11.62 | $10.63 | $9.25 |
Shares/units vested, Shares/Units | -1,402,901 | ||
Shares/units vested, Weighted average grant date fair value | $11.02 | ||
Shares/units vested, Shares/Units | -290,392 | ||
Shares/units cancelled, Weighted average grant date fair value | $11.35 | ||
Nonvested on December 31, 2014, Shares/Units | 3,355,145 | 4,174,196 | |
Nonvested on December 31, 2014, Weighted average grant date fair value | $10.51 | $10.51 |
Stock_Options_Restricted_Stock3
Stock Options, Restricted Stock Incentive, And Dividend Reinvestment Plans (Summary Of Stock Option Plans Activity)(Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2009 |
Employee Benefits And Share Based Compensation [Abstract] | |||||
January 1, 2014, Options Outstanding | 8,593,175 | ||||
Options granted, Options Outstanding | 592,551 | 866,742 | 1,248,685 | 0 | 0 |
Options exercised, Options Outstanding | -199,880 | ||||
Options expired, Options Outstanding | -1,194,739 | ||||
31-Dec-14 | 7,791,107 | 8,593,175 | |||
Options exercisable, Options Outstanding | 5,820,652 | ||||
Options expected to vest, Options outstanding | 1,970,455 | ||||
January 1, 2014, Weighted Average Exercise Price | $19.29 | ||||
Options granted, Weighted Average Exercise Price | $11.77 | ||||
Options exercised, weighted average exercise price | $10.74 | ||||
Options expired, Weighted Average Exercise Price | $30.78 | ||||
December 31, 2014, Weighted Average Exercise Price | $17.18 | $19.29 | |||
Options exercisable, Weighted Average Exercise Price | $19.34 | ||||
Options expected to vest, Weighted Average Exercise Price | $10.81 | ||||
December 31, 2014, Weighted Average Remaining Contractual Term (Years) | 3 years 11 months | ||||
Options exercisable, Weighted Average Remaining Contractual Term (years) | 3 years 7 months | ||||
Options expected to vest, Weighted Average Remaining Contractual Term (years) | 4 years 11 months | ||||
December 31, 2014, Aggregate Intrinsic Value (thousands) | $11,826 | ||||
Options exercisable, Aggregate Intrinsic Value (thousands) | 6,376 | ||||
Options expected to vest, Aggregate Intrinsic Value (thousands) | $5,449 |
Stock_Option_Restrictive_Stock
Stock Option, Restrictive Stock Incentive, And Dividend Reinvestment Plans (Summary Of Assumptions To Estimate The Fair Value Of Stock Options Granted)(Details) (Employee Stock Options [Member]) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Employee Stock Options [Member] | |||
Expected dividend yield | 1.70% | 1.84% | 0.42% |
Expected weighted-average lives of options granted | 6 years 2 months | 6 years 1 month | 6 years 1 month |
Expected weighted-average volatility | 33.79% | 36.19% | 42.40% |
Expected volatility range, minimum | 24.55% | 27.27% | 35.80% |
Expected volatility range, maximum | 61.49% | 62.98% | 62.21% |
Risk-free interest rate | 1.96% | 1.16% | 1.10% |
Business_Segment_Information_A
Business Segment Information (Amounts Of Consolidated Revenue, Expense, Tax And Assets) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
number | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | $627,718,000 | $637,374,000 | $688,667,000 | |||
Provision/(provision credit) for loan losses | 27,000,000 | 55,000,000 | 78,000,000 | [1] | ||
Noninterest income | 550,044,000 | 584,577,000 | 671,329,000 | |||
Noninterest expense | 841,211,000 | 1,158,601,000 | 1,383,701,000 | |||
Income/(loss) before income taxes | 309,551,000 | 8,350,000 | -101,705,000 | |||
Provision/(benefit) for income taxes | 78,501,000 | -32,169,000 | -85,262,000 | |||
Income/(loss) from continuing operations | 231,050,000 | 40,519,000 | -16,443,000 | |||
Income/(loss) from discontinued operations, net of tax | 0 | [2] | 548,000 | [2] | 148,000 | [2] |
Net income/(loss) | 231,050,000 | 41,067,000 | -16,295,000 | |||
Average assets | 23,998,985,000 | 24,409,656,000 | 25,053,304,000 | |||
Depreciation and amortization | 56,896,000 | 71,616,000 | 117,972,000 | |||
Expenditures for long-lived assets | 38,880,000 | 41,463,000 | 21,862,000 | |||
Number of Operating Segments | 4 | |||||
Regional Banking [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 602,066,000 | 591,308,000 | 605,460,000 | |||
Provision/(provision credit) for loan losses | 29,187,000 | 18,460,000 | -898,000 | |||
Noninterest income | 254,697,000 | 247,718,000 | 253,422,000 | |||
Noninterest expense | 540,846,000 | 531,808,000 | 572,905,000 | |||
Income/(loss) before income taxes | 286,730,000 | 288,758,000 | 286,875,000 | |||
Provision/(benefit) for income taxes | 102,027,000 | 103,970,000 | 104,171,000 | |||
Net income/(loss) | 184,703,000 | 184,788,000 | 182,704,000 | |||
Average assets | 13,275,428,000 | 12,877,329,000 | 12,658,617,000 | |||
Depreciation and amortization | 38,271,000 | 46,864,000 | 73,720,000 | |||
Expenditures for long-lived assets | 30,833,000 | 34,764,000 | 17,617,000 | |||
Capital Markets [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 12,697,000 | 16,177,000 | 20,746,000 | |||
Noninterest income | 202,723,000 | 268,435,000 | 334,990,000 | |||
Noninterest expense | 146,828,000 | 232,415,000 | 262,971,000 | |||
Income/(loss) before income taxes | 68,592,000 | 52,197,000 | 92,765,000 | |||
Provision/(benefit) for income taxes | 25,751,000 | 19,619,000 | 35,054,000 | |||
Net income/(loss) | 42,841,000 | 32,578,000 | 57,711,000 | |||
Average assets | 2,068,967,000 | 2,255,281,000 | 2,296,549,000 | |||
Depreciation and amortization | 6,133,000 | 8,666,000 | 20,904,000 | |||
Expenditures for long-lived assets | 1,295,000 | 3,987,000 | 1,851,000 | |||
Corporate [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | -54,126,000 | -46,127,000 | -35,908,000 | |||
Noninterest income | 26,967,000 | 26,055,000 | 27,007,000 | |||
Noninterest expense | 70,453,000 | 75,263,000 | 99,438,000 | |||
Income/(loss) before income taxes | -97,612,000 | -95,335,000 | -108,339,000 | |||
Provision/(benefit) for income taxes | -69,341,000 | -64,463,000 | -80,880,000 | |||
Net income/(loss) | -28,271,000 | -30,872,000 | -27,459,000 | |||
Average assets | 5,591,239,000 | 5,192,411,000 | 5,223,014,000 | |||
Depreciation and amortization | 10,796,000 | 13,754,000 | 19,072,000 | |||
Expenditures for long-lived assets | 6,218,000 | 1,050,000 | 2,327,000 | |||
Non Strategic [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Net interest income | 67,081,000 | 76,016,000 | 98,369,000 | |||
Provision/(provision credit) for loan losses | -2,187,000 | 36,540,000 | 78,898,000 | |||
Noninterest income | 65,657,000 | 42,369,000 | 55,910,000 | |||
Noninterest expense | 83,084,000 | 319,115,000 | 448,387,000 | |||
Income/(loss) before income taxes | 51,841,000 | -237,270,000 | -373,006,000 | |||
Provision/(benefit) for income taxes | 20,064,000 | -91,295,000 | -143,607,000 | |||
Income/(loss) from continuing operations | 31,777,000 | -145,975,000 | -229,399,000 | |||
Income/(loss) from discontinued operations, net of tax | 0 | 548,000 | 148,000 | |||
Net income/(loss) | 31,777,000 | -145,427,000 | -229,251,000 | |||
Average assets | 3,063,351,000 | 4,084,635,000 | 4,875,124,000 | |||
Depreciation and amortization | 1,696,000 | 2,332,000 | 4,276,000 | |||
Expenditures for long-lived assets | $534,000 | $1,662,000 | $67,000 | |||
[1] | 2012 includes approximately $23 million of loan loss provision related to dischargedbankruptcies. | |||||
[2] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Income/(loss) from discontinued operations, net of tax have been attributed solely to FHN as the controlling interest holder. |
Variable_Interest_Entities_Nar
Variable Interest Entities (Narrative) (Details) | Dec. 31, 2013 |
number | |
Variable Interest Entity [Line Items] | |
Number of consolidated securitization trusts with agreements to sell servicing | 1 |
Home Equity [Member] | |
Variable Interest Entity [Line Items] | |
Number Of Securitization Trusts That Have Entered Rapid Amortization Period | 2 |
Variable_Interest_Entities_Sum
Variable Interest Entities (Summary Of VIE Consolidated By FHN) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Assets: | ||||
Cash and due from banks | $349,171,000 | $349,216,000 | ||
Loans, net of unearned income | 16,230,166,000 | 15,389,074,000 | 16,708,582,000 | |
Allowance for loan losses | 232,448,000 | 253,809,000 | 276,963,000 | 384,351,000 |
Total net loans | 15,997,718,000 | 15,135,265,000 | ||
Other assets | 1,387,755,000 | 1,685,384,000 | ||
Total assets | 25,672,887,000 | 23,789,833,000 | ||
Liabilities: | ||||
Term borrowings | 1,880,105,000 | 1,739,859,000 | ||
Other liabilities | 644,681,000 | 603,898,000 | ||
Total liabilities | 23,081,919,000 | 21,289,082,000 | ||
On Balance Sheet Consumer Loan Securitizations [Member] | ||||
Assets: | ||||
Cash and due from banks | 182,000 | 1,244,000 | ||
Loans, net of unearned income | 76,772,000 | 100,790,000 | ||
Allowance for loan losses | 827,000 | 4,439,000 | ||
Total net loans | 75,945,000 | 96,351,000 | ||
Other assets | 436,000 | 1,892,000 | ||
Total assets | 76,563,000 | 99,487,000 | ||
Liabilities: | ||||
Term borrowings | 65,612,000 | 89,640,000 | ||
Other liabilities | 4,000 | 18,000 | ||
Total liabilities | 65,616,000 | 89,658,000 | ||
Rabbi Trusts Used For Deferred Compensation Plans [Member] | ||||
Assets: | ||||
Other assets | 67,117,000 | 64,505,000 | ||
Total assets | 67,117,000 | 64,505,000 | ||
Liabilities: | ||||
Other liabilities | 50,825,000 | 49,519,000 | ||
Total liabilities | $50,825,000 | $49,519,000 |
Variable_Interest_Entities_Sum1
Variable Interest Entities (Summary Of VIE Not Consolidated By FHN) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Variable Interest Entity [Line Items] | |||||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 | ||
Term borrowings | 1,880,105,000 | 1,739,859,000 | |||
Trading securities | 1,194,391,000 | 801,718,000 | |||
Total MSR recognized by FHN | 2,517,000 | 72,793,000 | 114,311,000 | ||
Custodial balances | 5,195,656,000 | 4,637,839,000 | |||
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] | |
Parent Company [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Term borrowings | 720,832,000 | 708,598,000 | |||
Securities available for sale | 2,634,000 | 1,643,000 | |||
Low Income Housing Partnerships [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 46,851,000 | [3],[4] | 50,253,000 | [5],[6] | |
Maximum loss exposure, contractual funding commitments | 4,700,000 | 6,900,000 | |||
Liability Recognized | 0 | [3],[4] | 0 | [5],[6] | |
Low Income Housing Partnerships [Member] | Other Assets Member | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure, current investments | 42,200,000 | 43,400,000 | |||
New Market Tax Credit Llcs [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 21,648,000 | [4],[7] | 22,773,000 | [5],[8] | |
Liability Recognized | 0 | [4],[7] | 0 | [5],[8] | |
New Market Tax Credit Llcs [Member] | Current Investment Funded By Borrowings [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure, current investments | 18,000,000 | 18,000,000 | |||
Small Issuer Trust Preferred Holdings [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 364,882,000 | [9] | 402,307,000 | [9] | |
Liability Recognized | 0 | [9] | 0 | [9] | |
On Balance Sheet Trust Preferred Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 51,613,000 | [10] | 53,951,000 | [11] | |
Liability Recognized | 62,561,000 | [10] | 60,222,000 | [11] | |
Loans, net of unearned income | 112,500,000 | 112,500,000 | |||
Term borrowings | 62,600,000 | 60,200,000 | |||
Trading securities | 1,700,000 | 1,700,000 | |||
Proprietary Trust Preferred Issuances [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Liability Recognized | 206,186,000 | [12] | 206,186,000 | [13] | |
Proprietary Agency Residential Mortgage Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 25,904,000 | [14] | 339,493,000 | [15] | |
Liability Recognized | 0 | [14] | 0 | [15] | |
Proprietary Agency Residential Mortgage Securitizations [Member] | Other Assets Member | |||||
Variable Interest Entity [Line Items] | |||||
Aggregate servicing advances | 19,600,000 | 261,800,000 | |||
On Balance Sheet Consumer Loan Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 22,965,000 | [16] | |||
Liability Recognized | 221,193,000 | [16] | |||
Loans, net of unearned income | 244,200,000 | ||||
Term borrowings | 221,200,000 | ||||
Holdings Of Agency Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 3,881,505,000 | [17],[9] | 3,401,539,000 | [18],[9] | |
Liability Recognized | 0 | [17],[9] | 0 | [18],[9] | |
Trading securities | 519,100,000 | 286,900,000 | |||
Securities available for sale | 3,400,000,000 | 3,100,000,000 | |||
Short Positions In Agency Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Liability Recognized | 854,000 | [13] | |||
Commercial Loan Troubled Debt Restructurings [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 47,258,000 | [19],[20] | 62,207,000 | [21],[22] | |
Maximum loss exposure, contractual funding commitments | 3,200,000 | 2,300,000 | |||
Liability Recognized | 0 | [19],[20] | 0 | [21],[22] | |
Loans, net of unearned income | 44,000,000 | 59,900,000 | |||
Managed Discretionary Trusts [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 0 | [13] | |||
Liability Recognized | 0 | [13] | |||
Proprietary Residential Mortgage Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Trading securities | 5,600,000 | 7,200,000 | |||
Total MSR recognized by FHN | 600,000 | 70,100,000 | |||
Agency Residential Mortgage Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total MSR recognized by FHN | $100,000 | $400,000 | |||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[3] | Maximum loss exposure represents $42.2 million of current investments and $4.7 million of contractual funding commitments. Only the current investment amount is included in Other assets. | ||||
[4] | A liability is not recognized as investments are written down over the life of the related tax credit. | ||||
[5] | A liability is not recognized as investments are written down over the life of the related tax credit. | ||||
[6] | Maximum loss exposure represents $43.4 million of current investments and $6.9 million of contractual funding commitments. Only the current investment amount is included in Other assets. | ||||
[7] | Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||
[8] | Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||
[9] | Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trustsb securities. | ||||
[10] | Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $62.6 million classified as Term borrowings. | ||||
[11] | Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $60.2 million classified as Term borrowings. | ||||
[12] | No exposure to loss due to the nature of FHNbs involvement. | ||||
[13] | No exposure to loss due to the nature of FHNbs involvement. | ||||
[14] | Includes $.6 million and $.1 million classified as MSR related to proprietary and agency residential mortgage securitizations, respectively, and $5.6 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servicing advances of $19.6 million are classified as Other assets. | ||||
[15] | Includes $70.1 million and $.4 million classified as MSR related to proprietary and agency residential mortgage securitizations, respectively, and $7.2 million classified as Trading securities related to proprietary and agency residential mortgage securitizations. Aggregate servicing advances of $261.8 million are classified as Other assets. | ||||
[16] | Includes $244.2 million classified as Loans, net of unearned income which are offset by $221.2 million classified as Term borrowings. | ||||
[17] | Includes $519.1 million classified as Trading securities and $3.4 billion classified as Securities available-for-sale. | ||||
[18] | Includes $286.9 million classified as Trading securities and $3.1 billion classified as Securities available-for-sale. | ||||
[19] | Maximum loss exposure represents $44.0 million of current receivables and $3.2 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||
[20] | A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowersb operations. | ||||
[21] | Maximum loss exposure represents $59.9B million of current receivables and $2.3B million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||
[22] | A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowersb operations. |
Variable_Interest_Entities_Sch
Variable Interest Entities (Schedule Of Cash Flows Related To Loan Sales And Securitizations) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Proceeds from initial sales | $10,843 | |
Servicing fees retained | 43,563 | [1] |
Purchases of GNMA guaranteed mortgages | 97,684 | |
Purchases of previously transferred financial assets | 287,576 | [2],[3] |
Other cash flows received on retained interests | 5,482 | |
Fhn [Member] | ||
Purchases of previously transferred financial assets | $74,700 | |
[1] | Included servicing fees on MSR associated with loan sales and purchased MSR. | |
[2] | Included repurchases of delinquent and performing loans, foreclosed assets, and make-whole payments for economic losses incurred by purchaser. Also included buyouts from GSEs in order to facilitate foreclosures. | |
[3] | 2013 includes $74.7 million of cash paid related to clean-up calls exercised by FHN. |
Variable_Interest_Entities_Sch1
Variable Interest Entities (Schedule of Principal Amount of Delinquent Loans, and Net Credit Losses) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Principal amount of loans securitized and sold | $39,400,000,000 | |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Principal Amount of Residential Real Estate Loans | 8,386,789,000 | [1],[2],[3] |
Net Credit Losses | 219,925,000 | |
Principal Amount90 Days Or More Past Due Or Nonaccrual [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Principal Amount of Residential Real Estate Loans | 700,000,000 | |
Principal Amount90 Days Or More Past Due Or Nonaccrual [Member] | Government National Mortgage Association Certificates And Obligations G N M A [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Principal Amount of Residential Real Estate Loans | $39,800,000 | |
[1] | Amounts represent real estate residential loans in FHNbs portfolio, held-for-sale, and loans that have been transferred in proprietary securitizations and whole loan sales in which FHN had a retained interest other than servicing rights. Also included $39.4 million of loans transferred to GSEs with any type of retained interest other than servicing rights in 2013. | |
[2] | Includes $.7 billion where the principal amount is 90 days or more past due or nonaccrual. Included in this amount was $39.8 million of GNMA guaranteed mortgages in 2013. | |
[3] | No delinquency or net credit loss data is provided for the loans transferred to FNMA or FHLMC because these agencies retain credit risk. See Note 18 - Contingencies and Other Disclosures for discussion related to repurchase obligations for loans transferred to GSEs or private investors. |
Derivatives_Narrative_Details
Derivatives (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Jan. 31, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Collateral cash receivables | $91,700,000 | $115,200,000 | |
Collateral cash payables | 55,600,000 | 80,600,000 | |
Total trading revenues | 170,300,000 | 231,900,000 | |
Other Long-term Debt | 1,880,105,000 | 1,739,859,000 | |
Hedged amount of foreign currency denominated loans | 4,900,000 | 600,000 | |
Borrowings matured | 304,000,000 | ||
Visa Class B Shares [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative liabilities related to sale | 5,200,000 | 2,900,000 | |
Parent Company [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Other Long-term Debt | 720,832,000 | 708,598,000 | |
Hedged held-to-maturity trust preferred loans principal balance | 6,500,000 | 6,500,000 | |
Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Shortcut Method [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net fair value of interest rate derivatives hedging | 15,300,000 | 40,200,000 | |
Other Long-term Debt | 554,000,000 | 554,000,000 | |
Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Long Haul Method [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net fair value of interest rate derivatives hedging | 9,100,000 | 18,000,000 | |
Other Long-term Debt | 500,000,000 | 500,000,000 | |
Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Long Haul Method [Member] | First Tennessee Bank National Association [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net fair value of interest rate derivatives hedging | 400,000 | ||
Other Long-term Debt | 400,000,000 | ||
Subordinated Debentures Subject To Mandatory Redemption Amounts Redeemed [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net fair value of interest rate derivatives hedging subordinated debt | 3,900,000 | 24,900,000 | |
Other Long-term Debt | 200,000,000 | 200,000,000 | |
Hedge Of Held To Maturity Trust Preferred Loans [Member] | Parent Company [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net fair value of interest rate derivatives hedging subordinated debt | 700,000 | 1,100,000 | |
Additional Derivative Agreements [Member] | Derivative Instruments With Accelerated Termination Provisions [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Collateral received | 172,100,000 | 196,400,000 | |
Securities posted collateral | 26,600,000 | 39,400,000 | |
Net fair value of derivative assets with adjustable posting thresholds | 100,500,000 | 119,000,000 | |
Net fair value of derivative liabilities with adjustable posting thresholds | 19,700,000 | 30,100,000 | |
Additional Derivative Agreements [Member] | Derivative Instruments With Adjustable Collateral Posting Thresholds [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Collateral received | 172,100,000 | 196,400,000 | |
Securities posted collateral | 83,000,000 | 105,900,000 | |
Net fair value of derivative assets with adjustable posting thresholds | 100,500,000 | 119,000,000 | |
Net fair value of derivative liabilities with adjustable posting thresholds | $80,500,000 | $100,300,000 |
Derivatives_Derivatives_Associ
Derivatives (Derivatives Associated with Capital Markets Trading Activities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Customer Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | $1,754,939,000 | $1,786,532,000 |
Assets | 76,614,000 | 76,980,000 |
Liabilities | 3,681,000 | 11,214,000 |
Offsetting Upstream Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 1,754,939,000 | 1,786,532,000 |
Assets | 3,681,000 | 11,214,000 |
Liabilities | 76,614,000 | 76,980,000 |
Put Option [Member] | LongMember | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 15,000,000 | 5,000,000 |
Assets | 12,000 | 9,000 |
Liabilities | 0 | 0 |
Forwards And Futures Purchased [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 884,439,000 | 1,278,331,000 |
Assets | 1,383,000 | 2,489,000 |
Liabilities | 459,000 | 824,000 |
Forwards And Futures Sold [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 1,175,667,000 | 1,445,656,000 |
Assets | 962,000 | 531,000 |
Liabilities | $1,576,000 | $3,519,000 |
Derivatives_Derivatives_Associ1
Derivatives (Derivatives Associated With Interest Rate Risk Management Activities) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Term borrowings | $1,880,105,000 | $1,739,859,000 | ||
Customer Interest Rate Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | 1,754,939,000 | 1,786,532,000 | ||
Assets | 76,614,000 | 76,980,000 | ||
Liabilities | 3,681,000 | 11,214,000 | ||
Customer Interest Rate Contracts [Member] | Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | 664,345,000 | [1] | 759,830,000 | [1] |
Assets | 26,084,000 | [1] | 28,747,000 | [1] |
Liabilities | 430,000 | [1] | 3,670,000 | [1] |
Gains/(Losses) | 577,000 | [1],[2] | -30,057,000 | [1] |
Offsetting Upstream Interest Rate Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | 1,754,939,000 | 1,786,532,000 | ||
Assets | 3,681,000 | 11,214,000 | ||
Liabilities | 76,614,000 | 76,980,000 | ||
Offsetting Upstream Interest Rate Contracts [Member] | Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | 664,345,000 | [1] | 776,236,000 | [1] |
Assets | 430,000 | [1] | 3,670,000 | [1] |
Liabilities | 26,584,000 | [1] | 29,247,000 | [1] |
Gains/(Losses) | -577,000 | [1],[2] | 30,547,000 | [1] |
Interest Rate Swap [Member] | Debt [Member] | Hedging Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | 1,654,000,000 | [2] | 1,254,000,000 | [2] |
Assets | 24,811,000 | [2] | 58,226,000 | [2] |
Liabilities | 3,910,000 | [2] | 24,904,000 | [2] |
Gains/(Losses) | -12,126,000 | [2] | -61,853,000 | [2] |
Long Term Debt [Member] | Debt [Member] | Hedged Items [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Liabilities | 1,654,000,000 | [2],[3] | ||
Term borrowings | 1,254,000,000 | [2],[3] | ||
Gains/(Losses) related to term borrowings | $12,272,000 | [2],[4] | $61,853,000 | [2],[4] |
[1] | Gains/losses included in the Other expense section of the ConsolidatedStatements of Income. | |||
[2] | Gains/losses included in the All other income and commissions section of the Consolidated Statements of Income. | |||
[3] | Represents par value of term borrowings being hedged. | |||
[4] | Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. |
Derivatives_Schedule_Of_Deriva
Derivatives (Schedule Of Derivative Activities Associated With Trust Preferred Loans) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Loans, net of unearned income | $16,230,166,000 | $15,389,074,000 | $16,708,582,000 | ||
Hedging Instruments [Member] | Loan Portfolio Hedging [Member] | Interest Rate Swap [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional | 6,500,000 | 6,500,000 | |||
Interest Rate Derivative Liabilities at Fair Value | 744,000 | 1,006,000 | |||
Gains/(Losses) | 262,000 | 1,037,000 | |||
Hedged Items [Member] | Loan Portfolio Hedging [Member] | Trust Preferred Loans [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Loans, net of unearned income | 6,500,000 | [1],[2] | 6,500,000 | [1],[2] | |
Gains/(Losses) | ($259,000) | [2],[3] | ($1,032,000) | [2],[3] | |
[1] | Represents principal balance being hedged. | ||||
[2] | Assets included in the Loans, net of unearned income section of the ConsolidatedStatements of Condition. | ||||
[3] | Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. |
Recovered_Sheet6
Derivatives (Derivatives associated with legacy Mortgage Servicing Activities) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2012 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total MSR recognized by FHN | $72,793,000 | $2,517,000 | $114,311,000 |
Fair value of retained interests | 801,718,000 | 1,194,391,000 | |
Forwards And Futures [Member] | Retained Interest [Member] | Hedging Instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 0 | ||
Assets | 0 | ||
Liabilities | 0 | ||
Gains/(Losses) | -3,047,000 | ||
Interest Rate Swaps And Swaptions [Member] | Retained Interest [Member] | Hedging Instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 0 | ||
Assets | 0 | ||
Liabilities | 0 | ||
Gains/(Losses) | -4,275,000 | ||
Mortgage Servicing Rights [Member] | Retained Interest [Member] | Hedged Items [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Total MSR recognized by FHN | 70,492,000 | ||
Gains/(Losses) | 21,591,000 | ||
Other Retained Interests [Member] | Retained Interest [Member] | Hedged Items [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Fair value of retained interests | 7,195,000 | ||
Gains/(Losses) | $3,813,000 |
Derivative_Assets_And_Collater
Derivative Assets And Collateral Received (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Derivative [Line Items] | ||||
Gross amounts of recognized assets | $134,088,000 | $181,866,000 | ||
Derivative Assets not subject to master netting agreements | 2,400,000 | 3,000,000 | ||
Subject to Master Netting Agreements | ||||
Derivative [Line Items] | ||||
Gross amounts of recognized assets | 131,731,000 | [1] | 178,837,000 | [1] |
Gross amounts offset in the Statement of Condition | 0 | 0 | ||
Net amounts of assets presented in the Statement of Condition | 131,731,000 | [1],[2] | 178,837,000 | [1],[2] |
Derivative liabilities available for offset | -15,768,000 | -68,216,000 | ||
Collateral Received | -114,230,000 | -110,621,000 | ||
Net amount | 1,733,000 | 0 | ||
Derivatives, Interest Rate Contracts | Subject to Master Netting Agreements | ||||
Derivative [Line Items] | ||||
Gross amounts of recognized assets | 131,731,000 | 178,837,000 | ||
Net amounts of assets presented in the Statement of Condition | $131,731,000 | $178,837,000 | ||
[1] | 2014 and 2013are comprised entirely of interest rate derivative contracts. | |||
[2] | Included in Derivative Assets on the Consolidated Statements of Condition. As of December 31, 2014 and 2013, $2.4 million and $3.0 million, respectively, of derivative assets (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. |
Derivative_Liabilities_and_Col
Derivative Liabilities and Collateral Pledged (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Derivative [Line Items] | ||||
Gross amounts of recognized liabilities | $119,239,000 | $154,280,000 | ||
Derivative Liabilities not subject to master netting agreements | 7,300,000 | 7,300,000 | ||
Subject to Master Netting Agreements | ||||
Derivative [Line Items] | ||||
Gross amounts of recognized liabilities | 111,963,000 | [1] | 147,021,000 | [1] |
Gross amounts offset in the Statement of Condition | 0 | 0 | ||
Net amounts of liabilities presented in the Statement of Condition | 111,963,000 | [1],[2] | 147,021,000 | [1],[2] |
Derivative assets available for offset | -15,768,000 | -68,216,000 | ||
Collateral pledged | -78,390,000 | -59,999,000 | ||
Net amount | 17,805,000 | 18,806,000 | ||
Derivatives, Interest Rate Contracts | Subject to Master Netting Agreements | ||||
Derivative [Line Items] | ||||
Gross amounts of recognized liabilities | 111,963,000 | |||
Net amounts of liabilities presented in the Statement of Condition | $111,963,000 | |||
[1] | 2014 and 2013 are comprised entirely of interest rate derivative contracts. | |||
[2] | Included in Derivative Liabilities on the Consolidated Statements of Condition. As of December 31, 2014 and 2013, $7.3 million of derivative liabilities (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. |
Securities_Purchased_Under_Agr
Securities Purchased Under Agreements To Resell And Collateral Pledged By Company (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Gross amounts of recognized assets | $659,154,000 | $412,614,000 |
Gross amounts offset in the Statement of Condition | 0 | 0 |
Net amounts of assets presented in the Statement of Condition | 659,154,000 | 412,614,000 |
Offsetting securities sold under agreements to repurchase | -48,655,000 | -8,672,000 |
Securities collateral (not recognized on FHN's Statement of Condition) | -602,403,000 | -396,855,000 |
Net amount | $8,096,000 | $7,087,000 |
Securities_Sold_Under_Agreemen
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Counterparties (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Securities Sold Under Agreements To Repurchase [Abstract] | ||
Gross amounts of recognized liabilities | $562,214,000 | $442,789,000 |
Gross amounts offset in the statement of Condition | 0 | 0 |
Net amounts of liabilities presented in the Statement of Condition | 562,214,000 | 442,789,000 |
Offsetting securities purchased under agreements to resell | -48,655,000 | -8,672,000 |
Securities Collateral | -513,463,000 | -434,008,000 |
Net amount | $96,000 | $109,000 |
Fair_Value_Of_Assets_And_Liabi2
Fair Value Of Assets And Liabilities (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
number | |||
Fair Value Of Assets And Liabilities [Abstract] | |||
Gain/(loss) on instrument specific credit risk | $2,800,000 | ($1,500,000) | ($1,800,000) |
Number of levels assets and liabilities are grouped in | 3 | ||
Goodwill, Impairment | $0 | $0 | $0 |
Fair_Value_Of_Assets_And_Liabi3
Fair Value Of Assets And Liabilities (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | $1,194,391,000 | $801,718,000 | |||
Loans held-for-sale | 27,910,000 | 230,456,000 | |||
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] | |
Total MSR recognized by FHN | 2,517,000 | 72,793,000 | 114,311,000 | ||
Total other assets | 159,753,000 | 205,746,000 | |||
Total assets | 4,785,378,000 | 4,510,375,000 | |||
Total other liabilities | 119,239,000 | 154,280,000 | |||
Total liabilities | 713,554,000 | 522,628,000 | |||
Recurring | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 3,400,807,000 | 3,199,662,000 | |||
Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Securities available for sale | 26,264,000 | 23,259,000 | |||
Total MSR recognized by FHN | 0 | 0 | |||
Total other assets | 28,010,000 | 26,900,000 | |||
Total assets | 54,274,000 | 50,159,000 | |||
Total other liabilities | 2,035,000 | 4,343,000 | |||
Total liabilities | 2,035,000 | 4,343,000 | |||
Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Securities available for sale | 3,371,236,000 | 3,168,277,000 | |||
Total MSR recognized by FHN | 0 | 0 | |||
Total other assets | 131,743,000 | 178,846,000 | |||
Total assets | 4,691,728,000 | 4,141,641,000 | |||
Total other liabilities | 111,964,000 | 147,022,000 | |||
Total liabilities | 706,279,000 | 515,370,000 | |||
Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Loans held-for-sale | 27,910,000 | 230,456,000 | |||
Securities available for sale | 3,307,000 | 8,126,000 | |||
Total MSR recognized by FHN | 2,517,000 | [3] | 72,793,000 | ||
Total other assets | 0 | 0 | |||
Total assets | 39,376,000 | 318,575,000 | |||
Total other liabilities | 5,240,000 | 2,915,000 | |||
Total liabilities | 5,240,000 | 2,915,000 | |||
U.S. treasuries | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 100,000 | 39,996,000 | |||
U.S. treasuries | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
U.S. treasuries | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 100,000 | 39,996,000 | |||
U.S. treasuries | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Government Agency Issued Mortgage-Backed Securities ("MBS") | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 751,165,000 | 823,689,000 | |||
Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 751,165,000 | 823,689,000 | |||
Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 2,611,266,000 | 2,290,937,000 | |||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 2,611,266,000 | 2,290,937,000 | |||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Other U.S. Government Agencies | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 1,807,000 | 2,326,000 | |||
Other U.S. Government Agencies | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Other U.S. Government Agencies | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Other U.S. Government Agencies | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 1,807,000 | 2,326,000 | |||
States And Municipalities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 10,205,000 | 15,155,000 | |||
States And Municipalities | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
States And Municipalities | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 8,705,000 | 13,655,000 | |||
States And Municipalities | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 1,500,000 | 1,500,000 | |||
Trading Loans | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 15,088,000 | ||||
Trading Loans | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | ||||
Trading Loans | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 15,088,000 | ||||
Trading Loans | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | ||||
Venture Capital Investments | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 4,300,000 | ||||
Venture Capital Investments | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | ||||
Venture Capital Investments | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | ||||
Venture Capital Investments | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 4,300,000 | ||||
Equity, Mutual Funds, And Other | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 26,264,000 | 23,259,000 | |||
Equity, Mutual Funds, And Other | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 26,264,000 | 23,259,000 | |||
Equity, Mutual Funds, And Other | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Equity, Mutual Funds, And Other | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 0 | 0 | |||
Deferred Compensation Assets | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 25,665,000 | 23,880,000 | |||
Deferred Compensation Assets | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 25,665,000 | 23,880,000 | |||
Deferred Compensation Assets | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | 0 | |||
Deferred Compensation Assets | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | 0 | |||
Derivatives, Forwards And Futures | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 2,345,000 | 3,020,000 | |||
Total other liabilities | 2,035,000 | 4,343,000 | |||
Derivatives, Forwards And Futures | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 2,345,000 | 3,020,000 | |||
Total other liabilities | 2,035,000 | 4,343,000 | |||
Derivatives, Forwards And Futures | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | 0 | |||
Total other liabilities | 0 | 0 | |||
Derivatives, Forwards And Futures | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | 0 | |||
Total other liabilities | 0 | 0 | |||
Derivatives, Interest Rate Contracts | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 131,631,000 | 178,846,000 | |||
Total other liabilities | 111,964,000 | 147,021,000 | |||
Derivatives, Interest Rate Contracts | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | 0 | |||
Total other liabilities | 0 | 0 | |||
Derivatives, Interest Rate Contracts | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 131,631,000 | 178,846,000 | |||
Total other liabilities | 111,964,000 | 147,021,000 | |||
Derivatives, Interest Rate Contracts | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | 0 | |||
Total other liabilities | 0 | 0 | |||
Derivatives, Other | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 112,000 | ||||
Total other liabilities | 5,240,000 | 2,916,000 | |||
Derivatives, Other | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | ||||
Total other liabilities | 0 | 0 | |||
Derivatives, Other | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 112,000 | ||||
Total other liabilities | 0 | 1,000 | |||
Derivatives, Other | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | ||||
Total other liabilities | 5,240,000 | 2,915,000 | |||
Capital Markets | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 1,188,754,000 | 794,523,000 | |||
Total trading liabilities - capital markets | 594,315,000 | 368,348,000 | |||
Capital Markets | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 1,188,749,000 | 794,518,000 | |||
Total trading liabilities - capital markets | 594,315,000 | 368,348,000 | |||
Capital Markets | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 5,000 | 5,000 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | U.S. treasuries | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 115,908,000 | 70,472,000 | |||
Total trading liabilities - capital markets | 286,016,000 | 210,096,000 | |||
Capital Markets | U.S. treasuries | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | U.S. treasuries | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 115,908,000 | 70,472,000 | |||
Total trading liabilities - capital markets | 286,016,000 | 210,096,000 | |||
Capital Markets | U.S. treasuries | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | Government Agency Issued Mortgage-Backed Securities ("MBS") | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 330,443,000 | 231,398,000 | |||
Total trading liabilities - capital markets | 854,000 | ||||
Capital Markets | Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | ||||
Capital Markets | Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 330,443,000 | 231,398,000 | |||
Total trading liabilities - capital markets | 854,000 | ||||
Capital Markets | Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | ||||
Capital Markets | Government Agency Issued Collateralized Mortgage Obligations ("CMO") | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 188,632,000 | 55,515,000 | |||
Capital Markets | Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Capital Markets | Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 188,632,000 | 55,515,000 | |||
Capital Markets | Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Capital Markets | Other U.S. Government Agencies | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 127,263,000 | 108,265,000 | |||
Total trading liabilities - capital markets | 1,958,000 | 3,900,000 | |||
Capital Markets | Other U.S. Government Agencies | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | Other U.S. Government Agencies | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 127,263,000 | 108,265,000 | |||
Total trading liabilities - capital markets | 1,958,000 | 3,900,000 | |||
Capital Markets | Other U.S. Government Agencies | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | States And Municipalities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 54,647,000 | 30,814,000 | |||
Capital Markets | States And Municipalities | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Capital Markets | States And Municipalities | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 54,647,000 | 30,814,000 | |||
Capital Markets | States And Municipalities | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Capital Markets | Trading Loans | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 15,088,000 | ||||
Capital Markets | Trading Loans | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | ||||
Capital Markets | Trading Loans | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 15,088,000 | ||||
Capital Markets | Trading Loans | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | ||||
Capital Markets | Corporate And Other Debt | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 354,183,000 | 297,445,000 | |||
Total trading liabilities - capital markets | 306,341,000 | 153,498,000 | |||
Capital Markets | Corporate And Other Debt | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | Corporate And Other Debt | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 354,178,000 | 297,440,000 | |||
Total trading liabilities - capital markets | 306,341,000 | 153,498,000 | |||
Capital Markets | Corporate And Other Debt | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 5,000 | 5,000 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | Equity, Mutual Funds, And Other | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 2,590,000 | 614,000 | |||
Capital Markets | Equity, Mutual Funds, And Other | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Capital Markets | Equity, Mutual Funds, And Other | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 2,590,000 | 614,000 | |||
Capital Markets | Equity, Mutual Funds, And Other | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 5,637,000 | 7,195,000 | |||
Mortgage Banking | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 5,637,000 | [3] | 7,195,000 | ||
Mortgage Banking | Certificated Principal Only | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 4,137,000 | 5,110,000 | |||
Mortgage Banking | Certificated Principal Only | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Certificated Principal Only | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Certificated Principal Only | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 4,137,000 | 5,110,000 | |||
Mortgage Banking | Interest Only Trading Securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 167,000 | 2,085,000 | |||
Mortgage Banking | Interest Only Trading Securities | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Interest Only Trading Securities | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Interest Only Trading Securities | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 167,000 | 2,085,000 | |||
Mortgage Banking | Subordinated Bonds | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 1,333,000 | ||||
Mortgage Banking | Subordinated Bonds | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | ||||
Mortgage Banking | Subordinated Bonds | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | ||||
Mortgage Banking | Subordinated Bonds | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | $1,333,000 | ||||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[3] | The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph. |
Fair_Value_Of_Assets_And_Liabi4
Fair Value Of Assets And Liabilities (Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Trading Account Assets [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | $7,200,000 | $17,992,000 | $18,059,000 | |||
Net income | 149,000 | 5,028,000 | 3,678,000 | |||
Other comprehensive income | 0 | 0 | 0 | |||
Purchases, assets | 1,559,000 | 0 | 0 | |||
Issuances, assets | 0 | 0 | 0 | |||
Sales, assets | -1,715,000 | -7,784,000 | 0 | |||
Settlements, assets | -1,550,000 | -8,036,000 | -9,225,000 | |||
Net transfers into/(out of) Level 3, assets | 0 | 0 | 5,480,000 | |||
Ending Balance | 5,643,000 | 7,200,000 | 17,992,000 | |||
Net unrealized gains/(losses) included in net income | 225,000 | [1] | 1,237,000 | [1] | 2,084,000 | [1] |
Loans Held For Sale [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | 230,456,000 | 221,094,000 | 210,487,000 | |||
Net income | 52,494,000 | -4,387,000 | -2,618,000 | |||
Other comprehensive income | 0 | 0 | 0 | |||
Purchases, assets | 5,654,000 | 69,929,000 | 60,111,000 | |||
Issuances, assets | 0 | 0 | 0 | |||
Sales, assets | -236,975,000 | 0 | 0 | |||
Settlements, assets | -19,806,000 | -40,369,000 | -27,032,000 | |||
Net transfers into/(out of) Level 3, assets | -3,913,000 | [2] | -15,811,000 | [2] | -19,854,000 | [2] |
Ending Balance | 27,910,000 | 230,456,000 | 221,094,000 | |||
Net unrealized gains/(losses) included in net income | 1,991,000 | [1] | -4,387,000 | [1] | -2,618,000 | [1] |
Investment Portfolio [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | 3,826,000 | 5,253,000 | 7,262,000 | |||
Net income | 0 | 0 | 0 | |||
Other comprehensive income | -64,000 | -114,000 | -234,000 | |||
Purchases, assets | 0 | 0 | 0 | |||
Issuances, assets | 0 | 0 | 0 | |||
Sales, assets | 0 | 0 | 0 | |||
Settlements, assets | -455,000 | -1,313,000 | -1,775,000 | |||
Net transfers into/(out of) Level 3, assets | 0 | 0 | 0 | |||
Ending Balance | 3,307,000 | 3,826,000 | 5,253,000 | |||
Net unrealized gains/(losses) included in net income | 0 | 0 | 0 | |||
Venture Capital Funds [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | 4,300,000 | 4,300,000 | 12,179,000 | |||
Net income | -2,995,000 | 0 | 371,000 | |||
Other comprehensive income | 0 | 0 | 0 | |||
Purchases, assets | 0 | 0 | 0 | |||
Issuances, assets | 0 | 0 | 0 | |||
Sales, assets | -5,000 | 0 | -8,250,000 | |||
Settlements, assets | -1,300,000 | 0 | 0 | |||
Net transfers into/(out of) Level 3, assets | 0 | 0 | 0 | |||
Ending Balance | 0 | 4,300,000 | 4,300,000 | |||
Net unrealized gains/(losses) included in net income | 0 | 0 | -4,700,000 | [3] | ||
Mortgage Servicing Rights Net [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | 72,793,000 | 114,311,000 | 144,069,000 | |||
Net income | 1,248,000 | 20,182,000 | -5,075,000 | |||
Other comprehensive income | 0 | 0 | 0 | |||
Purchases, assets | 0 | 0 | 0 | |||
Issuances, assets | 0 | 0 | 0 | |||
Sales, assets | -70,204,000 | -39,633,000 | 0 | |||
Settlements, assets | -1,320,000 | -22,067,000 | -24,683,000 | |||
Net transfers into/(out of) Level 3, assets | 0 | 0 | 0 | |||
Ending Balance | 2,517,000 | 72,793,000 | 114,311,000 | |||
Net unrealized gains/(losses) included in net income | 43,000 | [1] | 17,394,000 | [1] | -3,957,000 | [1] |
Net Derivative Liabilities [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | -2,915,000 | -2,175,000 | -11,820,000 | |||
Net income | -5,981,000 | -2,013,000 | -1,757,000 | |||
Other comprehensive income | 0 | 0 | 0 | |||
Purchases, liabilities | 0 | 0 | 0 | |||
Issuances, liabilities | 0 | 0 | 0 | |||
Sales, liabilities | 0 | 0 | 0 | |||
Settlements, liabilities | 3,656,000 | 1,273,000 | 11,402,000 | |||
Net transfers in/(out) level 3, liabilities | 0 | 0 | 0 | |||
Ending Balance | -5,240,000 | -2,915,000 | -2,175,000 | |||
Net unrealized gains/(losses) included in other expense | -5,981,000 | [4] | 2,013,000 | [4] | -1,757,000 | [4] |
Other Short Term Borrowings [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Beginning Balance | -11,156,000 | -14,833,000 | ||||
Net income | -3,000 | 3,677,000 | ||||
Other comprehensive income | 0 | 0 | ||||
Purchases, liabilities | 0 | 0 | ||||
Issuances, liabilities | 0 | 0 | ||||
Sales, liabilities | 11,159,000 | 0 | ||||
Settlements, liabilities | 0 | 0 | ||||
Net transfers in/(out) level 3, liabilities | 0 | 0 | ||||
Ending Balance | 0 | -11,156,000 | ||||
Net unrealized gains/(losses) included in net income | $0 | [1] | $3,677,000 | [1] | ||
[1] | Primarily included in mortgage banking income on the Consolidated Statements of Income. | |||||
[2] | Transfers out of recurring loans held-for-sale level 3 balances reflect movements out of loans held-for-sale and into real estate acquired by foreclosure (level 3 nonrecurring). | |||||
[3] | Represents recognized gains and losses attributable to venture capital investments classified within securities available-for-sale that are included in securities gains/(losses) in noninterest income. | |||||
[4] | Included in Other expense. |
Fair_Value_Of_Assets_And_Liabi5
Fair Value Of Assets And Liabilities (Nonrecurring Fair Value Measurements) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | $27,910,000 | $230,456,000 | ||||
Loans, net of unearned income | 16,230,166,000 | 15,389,074,000 | 16,708,582,000 | |||
Real estate acquired by foreclosure | 39,922,000 | 71,562,000 | ||||
Other assets | 159,753,000 | 205,746,000 | ||||
Net gains/(losses), Loans, net of unearned income | -714,000 | [1] | -3,109,000 | [1] | -55,948,000 | [1] |
Net gains/(losses), Real estate acquired by foreclosure | -3,465,000 | [2] | -4,987,000 | [2] | -9,422,000 | [2] |
Net gains/(losses), Other assets | -4,559,000 | [3] | -4,902,000 | [3] | -8,248,000 | [3] |
Gain (loss) on financial assets measured on non-recurring basis | -9,162,000 | -12,981,000 | -74,039,000 | |||
Fair Value Measurements Nonrecurring [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | 40,531,000 | [1] | 62,839,000 | [1] | 117,064,000 | [1] |
Real estate acquired by foreclosure | 30,430,000 | [2] | 45,753,000 | [2] | 41,767,000 | [2] |
Other assets | 63,821,000 | [3] | 66,128,000 | [3] | 76,501,000 | [3] |
Fair Value Inputs Level2 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | ||||
Other assets | 131,743,000 | 178,846,000 | ||||
Fair Value Inputs Level2 [Member] | Fair Value Measurements Nonrecurring [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | 0 | [1] | 0 | [1] | 0 | [1] |
Real estate acquired by foreclosure | 0 | [2] | 0 | [2] | 0 | [2] |
Other assets | 0 | [3] | 0 | [3] | 0 | [3] |
Fair Value Inputs Level3 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 27,910,000 | 230,456,000 | ||||
Other assets | 0 | 0 | ||||
Fair Value Inputs Level3 [Member] | Fair Value Measurements Nonrecurring [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | 40,531,000 | [1] | 62,839,000 | [1] | 117,064,000 | [1] |
Real estate acquired by foreclosure | 30,430,000 | [2] | 45,753,000 | [2] | 41,767,000 | [2] |
Other assets | 63,821,000 | [3] | 66,128,000 | [3] | 76,501,000 | [3] |
Fair Value Inputs Level1 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | ||||
Other assets | 28,010,000 | 26,900,000 | ||||
Fair Value Inputs Level1 [Member] | Fair Value Measurements Nonrecurring [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | 0 | [1] | 0 | [1] | 0 | [1] |
Real estate acquired by foreclosure | 0 | [2] | 0 | [2] | 0 | [2] |
Other assets | 0 | [3] | 0 | [3] | 0 | [3] |
First Mortgage [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 846,000 | 9,457,000 | 12,054,000 | |||
Net gains/(losses), Loans held for sale | -470,000 | 139,000 | -436,000 | |||
First Mortgage [Member] | Fair Value Inputs Level2 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | 0 | |||
First Mortgage [Member] | Fair Value Inputs Level3 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 846,000 | 9,457,000 | 12,054,000 | |||
First Mortgage [Member] | Fair Value Inputs Level1 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | 0 | |||
Small Business Administrations [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 3,322,000 | 6,185,000 | 23,902,000 | |||
Net gains/(losses), Loans held for sale | 46,000 | -122,000 | 15,000 | |||
Small Business Administrations [Member] | Fair Value Inputs Level2 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 3,322,000 | 6,185,000 | 23,902,000 | |||
Small Business Administrations [Member] | Fair Value Inputs Level3 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | 0 | |||
Small Business Administrations [Member] | Fair Value Inputs Level1 [Member] | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | $0 | $0 | $0 | |||
[1] | Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||
[2] | Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||
[3] | Represents tax credit investments. |
Fair_Value_Of_Assets_And_Liabi6
Fair Value Of Assets And Liabilities (Schedule Of Unobservable Inputs Utilized In Determining The Fair Value Of Level 3 Recurring And Non-Recurring Measurements) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Fair value of retained interests | 1,194,391,000 | 801,718,000 | ||||
Total MSR recognized by FHN | 2,517,000 | 72,793,000 | 114,311,000 | |||
Other Liabilities, Fair Value Disclosure | 119,239,000 | 154,280,000 | ||||
Loans held-for-sale | 27,910,000 | 230,456,000 | ||||
Real estate acquired by foreclosure | 39,922,000 | 71,562,000 | ||||
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] | ||
Other assets | 159,753,000 | 205,746,000 | ||||
Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Fair value of retained interests | 5,637,000 | 7,195,000 | ||||
First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loans held-for-sale | 846,000 | 9,457,000 | 12,054,000 | |||
Non Recurring | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Real estate acquired by foreclosure | 30,430,000 | [3] | 45,753,000 | [3] | 41,767,000 | [3] |
Other assets | 63,821,000 | [4] | 66,128,000 | [4] | 76,501,000 | [4] |
Derivatives, Other | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Other Liabilities, Fair Value Disclosure | 5,240,000 | 2,916,000 | ||||
Other assets | 112,000 | |||||
Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Total MSR recognized by FHN | 2,517,000 | [5] | 72,793,000 | |||
Other Liabilities, Fair Value Disclosure | 5,240,000 | 2,915,000 | ||||
Loans held-for-sale | 27,910,000 | 230,456,000 | ||||
Securities available for sale | 3,307,000 | 8,126,000 | ||||
Other assets | 0 | 0 | ||||
Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Fair value of retained interests | 5,637,000 | [5] | 7,195,000 | |||
Level 3 | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loans held-for-sale | 846,000 | 9,457,000 | 12,054,000 | |||
Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loans held-for-sale | 28,756,000 | 239,913,000 | ||||
Level 3 | Non Recurring | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loans, net of unearned income | 40,531,000 | [6] | 62,839,000 | [6] | ||
Real estate acquired by foreclosure | 30,430,000 | [3] | 45,753,000 | [3] | 41,767,000 | [3] |
Other assets | 63,821,000 | [4] | 66,128,000 | [4] | 76,501,000 | [4] |
Level 3 | Derivatives, Other | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Other Liabilities, Fair Value Disclosure | 5,240,000 | 2,915,000 | ||||
Other assets | 0 | |||||
Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Securities available for sale | 4,300,000 | |||||
Other Assets | Level 3 | Non Recurring | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Other assets | 63,821,000 | [7] | 66,128,000 | [7] | ||
Discounted Cash Flow | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Discounted cash flow | Discounted cash flow | ||||
Discounted Cash Flow | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Discounted cash flow | Discounted cash flow | ||||
Discounted Cash Flow | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Discounted cash flow | |||||
Discounted Cash Flow | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Discounted cash flow | Discounted cash flow | ||||
Discounted Cash Flow | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Discounted cash flow | Discounted cash flow | ||||
Discounted Cash Flow | Other Assets | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Discounted cash flow | Discounted cash flow | ||||
Discounted Cash Flow | 15.2 Constant Prepayment Rate | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 15.20% | |||||
Discounted Cash Flow | 9.8% Values Utilized | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Discount rate | 9.80% | |||||
Discounted Cash Flow | $141.40 Per Loan | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Cost To Service Loan | 141.4 | |||||
Discounted Cash Flow | 1.385% Values Utilized | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Earnings On Escrow | 1.39% | 1.39% | ||||
Discounted Cash Flow | 19.7 Constant Prepayment Rate | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 19.70% | |||||
Discounted Cash Flow | 8.6% Values Utilized | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Discount rate | 8.60% | |||||
Discounted Cash Flow | $162.00 Per Loan | Mortgage Servicing Rights | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Cost To Service Loan | 162 | |||||
Appraisals From Comparable Properties | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Appraisals from comparable properties | Appraisals from comparable properties | ||||
Appraisals From Comparable Properties | Real Estate Acquired By Foreclosure | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Appraisals from comparable properties | Appraisals from comparable properties | ||||
Appraisals From Comparable Properties | Other Assets | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Appraisals from comparable properties | Appraisals from comparable properties | ||||
Other Collateral Valuations | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Other collateral valuations | Other collateral valuations | ||||
Industry Comparables | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Valuation Techniques | Industry comparables | |||||
Maximum | Discounted Cash Flow | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Visa covered litigation resolution amount | 5,600,000,000 | 5,000,000,000 | ||||
Maximum | Discounted Cash Flow | 2% - 12% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 12.00% | |||||
Maximum | Discounted Cash Flow | 2% - 4% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Credit spreads | 4.00% | |||||
Maximum | Discounted Cash Flow | 15.0% - 25.0% Added To Credit Spread | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Delinquency adjustment factor | 25.00% | |||||
Maximum | Discounted Cash Flow | 50% - 60% Of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 60.00% | |||||
Maximum | Discounted Cash Flow | 0% - 15% Adjustment To Yield | Other Assets | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Adjustments to current sales yields for specific properties | 15.00% | 15.00% | ||||
Maximum | Discounted Cash Flow | 6 Months To 30 Months | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Time until resolution | 30 months | |||||
Maximum | Discounted Cash Flow | 15% - 45% Values Utilized | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 45.00% | |||||
Maximum | Discounted Cash Flow | 25% - 30% Values Utilized | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Discount rate | 30.00% | |||||
Maximum | Discounted Cash Flow | 20% to 25% Values Utilized | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Earnings capitalization rate | 25.00% | |||||
Maximum | Discounted Cash Flow | 3% - 12% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 12.00% | |||||
Maximum | Discounted Cash Flow | 35% - 100% of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 100.00% | |||||
Maximum | Discounted Cash Flow | 2% - 11% | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Draw rate | 11.00% | |||||
Maximum | Discounted Cash Flow | 5% - 15% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 15.00% | |||||
Maximum | Discounted Cash Flow | 45% - 100% Of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 100.00% | |||||
Maximum | Discounted Cash Flow | 10% - 30% Values Utilized | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 30.00% | |||||
Maximum | Discounted Cash Flow | 8% - 56% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Discount rate | 56.00% | |||||
Maximum | Discounted Cash Flow | 12 Months to 48 Months | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Time until resolution | 48 months | |||||
Maximum | Discounted Cash Flow | 5% - 12% Value Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Draw rate | 12.00% | |||||
Maximum | Discounted Cash Flow | 41% - 46% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 46.00% | |||||
Maximum | Discounted Cash Flow | 38 - 45% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 45.00% | |||||
Maximum | Discounted Cash Flow | 50 - 60 % Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Foreclosure losses | 60.00% | |||||
Maximum | Discounted Cash Flow | 10 - 70 % of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 70.00% | |||||
Maximum | Discounted Cash Flow | 6 - 10 % Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 10.00% | |||||
Maximum | Appraisals From Comparable Properties | 0% - 10% Of Appraisal | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 10.00% | 10.00% | ||||
Maximum | Appraisals From Comparable Properties | 0% - 10% Of Appraisal | Real Estate Acquired By Foreclosure | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Adjustment for value changes since appraisal | 10.00% | 10.00% | ||||
Maximum | Appraisals From Comparable Properties | 0% - 25% Of Appraisal | Other Assets | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 25.00% | 25.00% | ||||
Maximum | Other Collateral Valuations | 20% - 50% Of Gross Value | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Borrowing base certificates adjustment | 50.00% | 50.00% | ||||
Maximum | Other Collateral Valuations | 0% - 25% Of Reported Value | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Financial statements/auction values adjustment | 25.00% | 25.00% | ||||
Maximum | Industry Comparables | 40% - 50% Discount | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Adjustment for minority interest and small business status | 50.00% | |||||
Minimum | Discounted Cash Flow | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Visa covered litigation resolution amount | 4,800,000,000 | 4,400,000,000 | ||||
Minimum | Discounted Cash Flow | 2% - 12% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 2.00% | |||||
Minimum | Discounted Cash Flow | 2% - 4% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Credit spreads | 2.00% | |||||
Minimum | Discounted Cash Flow | 15.0% - 25.0% Added To Credit Spread | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Delinquency adjustment factor | 15.00% | |||||
Minimum | Discounted Cash Flow | 50% - 60% Of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 50.00% | |||||
Minimum | Discounted Cash Flow | 0% - 15% Adjustment To Yield | Other Assets | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Adjustments to current sales yields for specific properties | 0.00% | 0.00% | ||||
Minimum | Discounted Cash Flow | 6 Months To 30 Months | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Time until resolution | 6 months | |||||
Minimum | Discounted Cash Flow | 15% - 45% Values Utilized | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 15.00% | |||||
Minimum | Discounted Cash Flow | 25% - 30% Values Utilized | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Discount rate | 25.00% | |||||
Minimum | Discounted Cash Flow | 20% to 25% Values Utilized | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Earnings capitalization rate | 20.00% | |||||
Minimum | Discounted Cash Flow | 3% - 12% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 3.00% | |||||
Minimum | Discounted Cash Flow | 35% - 100% of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 35.00% | |||||
Minimum | Discounted Cash Flow | 2% - 11% | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Draw rate | 2.00% | |||||
Minimum | Discounted Cash Flow | 5% - 15% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 5.00% | |||||
Minimum | Discounted Cash Flow | 45% - 100% Of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 45.00% | |||||
Minimum | Discounted Cash Flow | 10% - 30% Values Utilized | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 10.00% | |||||
Minimum | Discounted Cash Flow | 8% - 56% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Discount rate | 8.00% | |||||
Minimum | Discounted Cash Flow | 12 Months to 48 Months | Derivative Liabilities, Other | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Time until resolution | 12 months | |||||
Minimum | Discounted Cash Flow | 5% - 12% Value Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | Home Equity | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Draw rate | 5.00% | |||||
Minimum | Discounted Cash Flow | 41% - 46% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 41.00% | |||||
Minimum | Discounted Cash Flow | 38 - 45% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 38.00% | |||||
Minimum | Discounted Cash Flow | 50 - 60 % Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Foreclosure losses | 50.00% | |||||
Minimum | Discounted Cash Flow | 10 - 70 % of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Loss severity trends | 10.00% | |||||
Minimum | Discounted Cash Flow | 6 - 10 % Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Prepayment Speeds | 6.00% | |||||
Minimum | Appraisals From Comparable Properties | 0% - 10% Of Appraisal | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 0.00% | 0.00% | ||||
Minimum | Appraisals From Comparable Properties | 0% - 10% Of Appraisal | Real Estate Acquired By Foreclosure | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Adjustment for value changes since appraisal | 0.00% | 0.00% | ||||
Minimum | Appraisals From Comparable Properties | 0% - 25% Of Appraisal | Other Assets | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 0.00% | 0.00% | ||||
Minimum | Other Collateral Valuations | 20% - 50% Of Gross Value | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Borrowing base certificates adjustment | 20.00% | 20.00% | ||||
Minimum | Other Collateral Valuations | 0% - 25% Of Reported Value | Loans, Net Of Unearned Income | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Financial statements/auction values adjustment | 0.00% | 0.00% | ||||
Minimum | Industry Comparables | 40% - 50% Discount | Venture Capital Investments | Level 3 | ||||||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||||||
Adjustment for minority interest and small business status | 40.00% | |||||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||
[3] | Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||
[4] | Represents tax credit investments. | |||||
[5] | The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph. | |||||
[6] | Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision. | |||||
[7] | Represents tax credit investments. |
Fair_Value_Of_Assets_And_Liabi7
Fair Value Of Assets And Liabilities (Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | $27,910 | $230,456 |
Aggregate Unpaid Principal | Loans Held-For-Sale Reported At Fair Value | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | 43,822 | 378,326 |
Nonaccrual loans | 14,316 | 137,301 |
Loans 90 days or more past due and still accruing | 4,000 | 15,854 |
Fair Value Carrying Amount Less Aggregate Unpaid Principal | Loans Held-For-Sale Reported At Fair Value | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | -15,912 | -147,870 |
Nonaccrual loans | -6,886 | -73,070 |
Loans 90 days or more past due and still accruing | -1,413 | -8,089 |
Fair Value Carrying Amount | Loans Held-For-Sale Reported At Fair Value | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | 27,910 | 230,456 |
Nonaccrual loans | 7,430 | 64,231 |
Loans 90 days or more past due and still accruing | $2,587 | $7,765 |
Fair_Value_Of_Assets_And_Liabi8
Fair Value Of Assets And Liabilities (Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings) (Details) (Mortgage Banking Noninterest Income, USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Loans Held-For-Sale | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Changes in fair value included in net income | $52,494,000 | ($4,387,000) | ($2,618,000) |
Other Short-Term Borrowings | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Changes in fair value included in net income | $0 | ($3,000) | $3,677,000 |
Fair_Value_Of_Assets_And_Liabi9
Fair Value Of Assets And Liabilities (Summary Of Book Value And Estimated Fair Value Of Financial Instruments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | $15,997,718,000 | $15,135,265,000 | ||
Short Term Financial Assets: | ||||
Total interest-bearing cash | 1,621,967,000 | 730,297,000 | ||
Total federal funds sold | 63,080,000 | 66,079,000 | ||
Securities purchased under agreements to resell | 659,154,000 | 412,614,000 | ||
Trading securities | 1,194,391,000 | 801,718,000 | ||
Loans held-for-sale | 141,285,000 | 370,152,000 | ||
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] |
Securities held-to-maturity (Note 3) | 4,292,000 | 0 | ||
Derivative assets | 134,088,000 | 181,866,000 | ||
Other Assets Financial Instruments | ||||
Total other assets | 159,753,000 | 205,746,000 | ||
Non Earning Assets | ||||
Cash and due from banks | 349,171,000 | 349,216,000 | ||
Capital markets receivables | 42,488,000 | 45,255,000 | ||
Total assets | 25,672,887,000 | 23,789,833,000 | ||
Deposits: | ||||
Total deposits | 18,068,939,000 | 16,734,956,000 | ||
Trading liabilities | 594,314,000 | 368,348,000 | ||
Short Term Financial Liabilities | ||||
Total federal funds purchased | 1,037,052,000 | 1,042,633,000 | ||
Securities sold under agreements to repurchase | 562,214,000 | 442,789,000 | ||
Other Short-term Borrowings | 157,218,000 | 181,146,000 | ||
Term Borrowings | ||||
Total long term borrowings | 1,880,105,000 | 1,739,859,000 | ||
Derivative liabilities | 119,239,000 | 154,280,000 | ||
Other noninterest-bearing liabilities | ||||
Capital markets payables | 18,157,000 | 21,173,000 | ||
Total liabilities | 23,081,919,000 | 21,289,082,000 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 15,997,718,000 | 15,135,265,000 | ||
Short Term Financial Assets: | ||||
Total interest-bearing cash | 1,621,967,000 | 730,297,000 | ||
Total federal funds sold | 63,080,000 | 66,079,000 | ||
Securities purchased under agreements to resell | 659,154,000 | 412,614,000 | ||
Total short-term financial assets | 2,344,201,000 | 1,208,990,000 | ||
Trading securities | 1,194,391,000 | [3] | 801,718,000 | [3] |
Loans held-for-sale | 141,285,000 | [3] | 370,152,000 | [3] |
Securities available for sale | 3,556,613,000 | [3],[4] | 3,398,457,000 | [3],[5] |
Securities held-to-maturity (Note 3) | 4,292,000 | |||
Derivative assets | 134,088,000 | [3] | 181,866,000 | [3] |
Other Assets Financial Instruments | ||||
Tax credit investments | 63,821,000 | 66,128,000 | ||
Deferred compensation assets | 25,665,000 | 23,880,000 | ||
Total other assets | 89,486,000 | 90,008,000 | ||
Non Earning Assets | ||||
Cash and due from banks | 349,171,000 | 349,216,000 | ||
Capital markets receivables | 42,488,000 | 45,255,000 | ||
Accrued interest receivable | 67,301,000 | 69,208,000 | ||
Total nonearning assets | 458,960,000 | 463,679,000 | ||
Total assets | 23,921,034,000 | 21,650,135,000 | ||
Deposits: | ||||
Defined maturity | 1,276,938,000 | 1,505,712,000 | ||
Undefined maturity | 16,792,001,000 | 15,229,244,000 | ||
Total deposits | 18,068,939,000 | 16,734,956,000 | ||
Trading liabilities | 594,314,000 | [3] | 368,348,000 | [3] |
Short Term Financial Liabilities | ||||
Total federal funds purchased | 1,037,052,000 | 1,042,633,000 | ||
Securities sold under agreements to repurchase | 562,214,000 | 442,789,000 | ||
Other Short-term Borrowings | 157,218,000 | 181,146,000 | ||
Total short-term financial liabilities | 1,756,484,000 | 1,666,568,000 | ||
Term Borrowings | ||||
Real estate investment trust-preferred | 45,896,000 | 45,828,000 | ||
Term borrowings - new market tax credit investment | 18,000,000 | 18,000,000 | ||
Borrowings secured by residential real estate | 65,612,000 | 310,833,000 | ||
Other long term borrowings | 1,750,597,000 | 1,365,198,000 | ||
Total long term borrowings | 1,880,105,000 | 1,739,859,000 | ||
Derivative liabilities | 119,239,000 | [3] | 154,280,000 | [3] |
Other noninterest-bearing liabilities | ||||
Capital markets payables | 18,157,000 | 21,173,000 | ||
Accrued interest payable | 23,995,000 | 23,813,000 | ||
Total other noninterest-bearing liabilities | 42,152,000 | 44,986,000 | ||
Total liabilities | 22,461,233,000 | 20,708,997,000 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 8,940,275,000 | 7,837,130,000 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 1,259,143,000 | 1,122,676,000 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 4,935,060,000 | 5,206,586,000 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 519,839,000 | 639,751,000 | ||
Carrying Reported Amount Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 343,401,000 | 329,122,000 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 15,721,587,000 | 14,630,444,000 | ||
Short Term Financial Assets: | ||||
Total interest-bearing cash | 1,621,967,000 | 730,297,000 | ||
Total federal funds sold | 63,080,000 | 66,079,000 | ||
Securities purchased under agreements to resell | 659,154,000 | 412,614,000 | ||
Total short-term financial assets | 2,344,201,000 | 1,208,990,000 | ||
Trading securities | 1,194,391,000 | [3] | 801,718,000 | [3] |
Loans held-for-sale | 141,285,000 | [3] | 370,152,000 | [3] |
Securities available for sale | 3,556,613,000 | [3],[4] | 3,398,457,000 | [3],[5] |
Securities held-to-maturity (Note 3) | 5,404,000 | |||
Derivative assets | 134,088,000 | [3] | 181,866,000 | [3] |
Other Assets Financial Instruments | ||||
Tax credit investments | 63,821,000 | 66,128,000 | ||
Deferred compensation assets | 25,665,000 | 23,880,000 | ||
Total other assets | 89,486,000 | 90,008,000 | ||
Non Earning Assets | ||||
Cash and due from banks | 349,171,000 | 349,216,000 | ||
Capital markets receivables | 42,488,000 | 45,255,000 | ||
Accrued interest receivable | 67,301,000 | 69,208,000 | ||
Total nonearning assets | 458,960,000 | 463,679,000 | ||
Total assets | 23,646,015,000 | 21,145,314,000 | ||
Deposits: | ||||
Defined maturity | 1,282,833,000 | 1,520,950,000 | ||
Undefined maturity | 16,792,001,000 | 15,229,244,000 | ||
Total deposits | 18,074,834,000 | 16,750,194,000 | ||
Trading liabilities | 594,315,000 | [3] | 368,348,000 | [3] |
Short Term Financial Liabilities | ||||
Total federal funds purchased | 1,037,052,000 | 1,042,633,000 | ||
Securities sold under agreements to repurchase | 562,214,000 | 442,789,000 | ||
Other Short-term Borrowings | 157,218,000 | 181,146,000 | ||
Total short-term financial liabilities | 1,756,484,000 | 1,666,568,000 | ||
Term Borrowings | ||||
Real estate investment trust-preferred | 49,350,000 | 47,000,000 | ||
Term borrowings - new market tax credit investment | 18,049,000 | 17,685,000 | ||
Borrowings secured by residential real estate | 56,623,000 | 268,249,000 | ||
Other long term borrowings | 1,730,061,000 | 1,372,646,000 | ||
Total long term borrowings | 1,854,083,000 | 1,705,580,000 | ||
Derivative liabilities | 119,239,000 | [3] | 154,280,000 | [3] |
Other noninterest-bearing liabilities | ||||
Capital markets payables | 18,157,000 | 21,173,000 | ||
Accrued interest payable | 23,995,000 | 23,813,000 | ||
Total other noninterest-bearing liabilities | 42,152,000 | 44,986,000 | ||
Total liabilities | 22,441,107,000 | 20,689,956,000 | ||
Loan commitments | 2,358,000 | 1,923,000 | ||
Standby and other commitments | 4,451,000 | 4,653,000 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 8,902,045,000 | 7,759,902,000 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 1,243,404,000 | 1,075,385,000 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 4,747,761,000 | 4,858,031,000 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 483,179,000 | 606,038,000 | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 345,198,000 | 331,088,000 | ||
Contractual Amount [Member] | ||||
Other noninterest-bearing liabilities | ||||
Loan commitments | 7,309,137,000 | 7,469,553,000 | ||
Standby and other commitments | 331,877,000 | 318,149,000 | ||
Fair Value Inputs Level1 [Member] | ||||
Short Term Financial Assets: | ||||
Securities available for sale | 26,264,000 | 23,259,000 | ||
Other Assets Financial Instruments | ||||
Total other assets | 28,010,000 | 26,900,000 | ||
Fair Value Inputs Level1 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Short Term Financial Assets: | ||||
Total interest-bearing cash | 1,621,967,000 | 730,297,000 | ||
Total federal funds sold | 0 | 0 | ||
Securities purchased under agreements to resell | 0 | 0 | ||
Total short-term financial assets | 1,621,967,000 | 730,297,000 | ||
Trading securities | 0 | [3] | 0 | [3] |
Loans held-for-sale | 0 | [3] | 0 | [3] |
Securities available for sale | 26,264,000 | [3] | 23,259,000 | [3] |
Securities held-to-maturity (Note 3) | 0 | |||
Derivative assets | 2,345,000 | [3] | 3,020,000 | [3] |
Other Assets Financial Instruments | ||||
Tax credit investments | 0 | 0 | ||
Deferred compensation assets | 25,665,000 | 23,880,000 | ||
Total other assets | 25,665,000 | 23,880,000 | ||
Non Earning Assets | ||||
Cash and due from banks | 349,171,000 | 349,216,000 | ||
Capital markets receivables | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Total nonearning assets | 349,171,000 | 349,216,000 | ||
Total assets | 2,025,412,000 | 1,129,672,000 | ||
Deposits: | ||||
Defined maturity | 0 | 0 | ||
Undefined maturity | 0 | 0 | ||
Total deposits | 0 | 0 | ||
Trading liabilities | 0 | [3] | 0 | [3] |
Short Term Financial Liabilities | ||||
Total federal funds purchased | 0 | 0 | ||
Securities sold under agreements to repurchase | 0 | 0 | ||
Other Short-term Borrowings | 0 | 0 | ||
Total short-term financial liabilities | 0 | 0 | ||
Term Borrowings | ||||
Real estate investment trust-preferred | 0 | 0 | ||
Term borrowings - new market tax credit investment | 0 | 0 | ||
Borrowings secured by residential real estate | 0 | 0 | ||
Other long term borrowings | 0 | 0 | ||
Total long term borrowings | 0 | 0 | ||
Derivative liabilities | 2,035,000 | [3] | 4,343,000 | [3] |
Other noninterest-bearing liabilities | ||||
Capital markets payables | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Total other noninterest-bearing liabilities | 0 | 0 | ||
Total liabilities | 2,035,000 | 4,343,000 | ||
Fair Value Inputs Level1 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level1 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level1 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level1 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level1 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level2 [Member] | ||||
Short Term Financial Assets: | ||||
Securities available for sale | 3,371,236,000 | 3,168,277,000 | ||
Other Assets Financial Instruments | ||||
Total other assets | 131,743,000 | 178,846,000 | ||
Fair Value Inputs Level2 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Short Term Financial Assets: | ||||
Total interest-bearing cash | 0 | 0 | ||
Total federal funds sold | 63,080,000 | 66,079,000 | ||
Securities purchased under agreements to resell | 659,154,000 | 412,614,000 | ||
Total short-term financial assets | 722,234,000 | 478,693,000 | ||
Trading securities | 1,188,749,000 | [3] | 794,518,000 | [3] |
Loans held-for-sale | 3,322,000 | [3] | 6,185,000 | [3] |
Securities available for sale | 3,371,236,000 | [3] | 3,168,277,000 | [3] |
Securities held-to-maturity (Note 3) | 0 | |||
Derivative assets | 131,743,000 | [3] | 178,846,000 | [3] |
Other Assets Financial Instruments | ||||
Tax credit investments | 0 | 0 | ||
Deferred compensation assets | 0 | 0 | ||
Total other assets | 0 | 0 | ||
Non Earning Assets | ||||
Cash and due from banks | 0 | 0 | ||
Capital markets receivables | 42,488,000 | 45,255,000 | ||
Accrued interest receivable | 67,301,000 | 69,208,000 | ||
Total nonearning assets | 109,789,000 | 114,463,000 | ||
Total assets | 5,527,073,000 | 4,740,982,000 | ||
Deposits: | ||||
Defined maturity | 1,282,833,000 | 1,520,950,000 | ||
Undefined maturity | 16,792,001,000 | 15,229,244,000 | ||
Total deposits | 18,074,834,000 | 16,750,194,000 | ||
Trading liabilities | 594,315,000 | [3] | 368,348,000 | [3] |
Short Term Financial Liabilities | ||||
Total federal funds purchased | 1,037,052,000 | 1,042,633,000 | ||
Securities sold under agreements to repurchase | 562,214,000 | 442,789,000 | ||
Other Short-term Borrowings | 157,218,000 | 181,146,000 | ||
Total short-term financial liabilities | 1,756,484,000 | 1,666,568,000 | ||
Term Borrowings | ||||
Real estate investment trust-preferred | 0 | 0 | ||
Term borrowings - new market tax credit investment | 0 | 0 | ||
Borrowings secured by residential real estate | 0 | 0 | ||
Other long term borrowings | 1,730,061,000 | 1,372,646,000 | ||
Total long term borrowings | 1,730,061,000 | 1,372,646,000 | ||
Derivative liabilities | 111,964,000 | [3] | 147,022,000 | [3] |
Other noninterest-bearing liabilities | ||||
Capital markets payables | 18,157,000 | 21,173,000 | ||
Accrued interest payable | 23,995,000 | 23,813,000 | ||
Total other noninterest-bearing liabilities | 42,152,000 | 44,986,000 | ||
Total liabilities | 22,309,810,000 | 20,349,764,000 | ||
Fair Value Inputs Level2 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level2 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level2 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level2 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level2 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | ||
Fair Value Inputs Level3 [Member] | ||||
Short Term Financial Assets: | ||||
Securities available for sale | 3,307,000 | 8,126,000 | ||
Other Assets Financial Instruments | ||||
Total other assets | 0 | 0 | ||
Fair Value Inputs Level3 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 15,721,587,000 | 14,630,444,000 | ||
Short Term Financial Assets: | ||||
Total interest-bearing cash | 0 | 0 | ||
Total federal funds sold | 0 | 0 | ||
Securities purchased under agreements to resell | 0 | 0 | ||
Total short-term financial assets | 0 | 0 | ||
Trading securities | 5,642,000 | [3] | 7,200,000 | [3] |
Loans held-for-sale | 137,963,000 | [3] | 363,967,000 | [3] |
Securities available for sale | 159,113,000 | [3],[4] | 206,921,000 | [3],[5] |
Securities held-to-maturity (Note 3) | 5,404,000 | |||
Derivative assets | 0 | [3] | 0 | [3] |
Other Assets Financial Instruments | ||||
Tax credit investments | 63,821,000 | 66,128,000 | ||
Deferred compensation assets | 0 | 0 | ||
Total other assets | 63,821,000 | 66,128,000 | ||
Non Earning Assets | ||||
Cash and due from banks | 0 | 0 | ||
Capital markets receivables | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Total nonearning assets | 0 | 0 | ||
Total assets | 16,093,530,000 | 15,274,660,000 | ||
Deposits: | ||||
Defined maturity | 0 | 0 | ||
Undefined maturity | 0 | 0 | ||
Total deposits | 0 | 0 | ||
Trading liabilities | 0 | [3] | 0 | [3] |
Short Term Financial Liabilities | ||||
Total federal funds purchased | 0 | 0 | ||
Securities sold under agreements to repurchase | 0 | 0 | ||
Other Short-term Borrowings | 0 | 0 | ||
Total short-term financial liabilities | 0 | 0 | ||
Term Borrowings | ||||
Real estate investment trust-preferred | 49,350,000 | 47,000,000 | ||
Term borrowings - new market tax credit investment | 18,049,000 | 17,685,000 | ||
Borrowings secured by residential real estate | 56,623,000 | 268,249,000 | ||
Other long term borrowings | 0 | 0 | ||
Total long term borrowings | 124,022,000 | 332,934,000 | ||
Derivative liabilities | 5,240,000 | [3] | 2,915,000 | [3] |
Other noninterest-bearing liabilities | ||||
Capital markets payables | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Total other noninterest-bearing liabilities | 0 | 0 | ||
Total liabilities | 129,262,000 | 335,849,000 | ||
Fair Value Inputs Level3 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 8,902,045,000 | 7,759,902,000 | ||
Fair Value Inputs Level3 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 1,243,404,000 | 1,075,385,000 | ||
Fair Value Inputs Level3 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 4,747,761,000 | 4,858,031,000 | ||
Fair Value Inputs Level3 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 483,179,000 | 606,038,000 | ||
Fair Value Inputs Level3 [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total loans, net of unearned income and allowance for loan losses | 345,198,000 | 331,088,000 | ||
FHLB-Cincinnati Stock [Member] | Fair Value Inputs Level3 [Member] | ||||
Other noninterest-bearing liabilities | ||||
Restricted investments | 87,900,000 | 128,000,000 | ||
FRB Stock [Member] | Fair Value Inputs Level3 [Member] | ||||
Other noninterest-bearing liabilities | ||||
Restricted investments | $66,000,000 | $66,000,000 | ||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||
[3] | Classes are detailed in the recurring and nonrecurring measurement tables. | |||
[4] | Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9million and FRB stock of $66.0million. | |||
[5] | Level 3 includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0 million. |
Restructuring_Repositioning_An2
Restructuring, Repositioning, And Efficiency (Narrative) (Details) (USD $) | 12 Months Ended | 93 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Restructuring And Related Activities [Abstract] | ||||
Net costs (income) recognized, related to restructuring, repositioning, and efficiency activities | $7,000,000 | $5,300,000 | $24,900,000 | |
Exit costs | 7,300,000 | 3,800,000 | 23,100,000 | |
Severance and other employee costs | 2,641,000 | 3,691,000 | 22,897,000 | 107,025,000 |
Lease abandonment expense | 4,696,000 | 131,000 | 46,000 | 45,523,000 |
Mortgage banking (income)/ expense on servicing sales | ($553,000) | $2,192,000 | $2,635,000 | $25,449,000 |
Restructuring_Repositioning_An3
Restructuring, Repositioning, And Efficiency (Schedule Of Restructuring And Repositioning Liability) (Details) (USD $) | 12 Months Ended | 93 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Restructuring And Related Activities [Abstract] | ||||
Restructuring and repositioning reserve balance, Beginning balance | $3,126,000 | $19,775,000 | $12,026,000 | |
Severance and other employee cost reserve | 2,641,000 | 3,691,000 | 22,897,000 | |
Reserve for facility consolidation costs | 4,696,000 | 131,000 | 46,000 | |
Other exit costs, professional fees, and other | 0 | 0 | 111,000 | |
Total accrued Liability | 10,463,000 | 23,597,000 | 35,080,000 | |
Payments related to: Severance and other employee costs | 2,678,000 | 19,051,000 | 12,138,000 | |
Payments related to: Facility consolidation costs | 1,067,000 | 677,000 | 1,884,000 | |
Payments related to: Other exit costs, professional fees, and other | 0 | 0 | 15,000 | |
Accrual reversals | 30,000 | 743,000 | 1,268,000 | |
Restructuring and repositioning reserve balance, Ending balance | 6,688,000 | 3,126,000 | 19,775,000 | 6,688,000 |
Severance and other employee related costs | 2,641,000 | 3,691,000 | 22,897,000 | 107,025,000 |
Facility consolidation costs | 4,696,000 | 131,000 | 46,000 | 45,523,000 |
Other exit costs, professional fees, and other | 0 | 0 | 111,000 | 19,165,000 |
Total accrued Expense | 7,337,000 | 3,822,000 | 23,054,000 | |
Other restructuring and repositioning expense: | ||||
Mortgage banking (income)/ expense on servicing sales | -553,000 | 2,192,000 | 2,635,000 | 25,449,000 |
(Gains)/losses on divestitures | 0 | -1,000,000 | -865,000 | -718,000 |
Impairment of premises and equipment | 222,000 | 385,000 | 22,000 | 23,004,000 |
Impairment of intangible assets | 48,231,000 | |||
Impairment of other assets | 0 | 0 | 12,000 | 40,504,000 |
Other | 0 | -96,000 | 0 | 7,478,000 |
Total other restructuring and repositioning expense | -331,000 | 1,481,000 | 1,804,000 | |
Total restructuring and repositioning charges | $7,006,000 | $5,303,000 | $24,858,000 | $323,333,000 |
Restructuring_Repositioning_An4
Restructuring, Repositioning, And Efficiency (Schedule Of Cumulative Costs Associated With Restructuring, Repositioning, And Efficiency Initiatives) (Details) (USD $) | 12 Months Ended | 93 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Restructuring And Related Activities [Abstract] | ||||
Severance and other employee related costs | $2,641,000 | $3,691,000 | $22,897,000 | $107,025,000 |
Facility consolidation costs | 4,696,000 | 131,000 | 46,000 | 45,523,000 |
Other exit costs, professional fees, and other | 0 | 0 | 111,000 | 19,165,000 |
Other restructuring and repositioning expense: | ||||
Loan portfolio divestiture | 7,672,000 | |||
Mortgage banking (income)/ expense on servicing sales | -553,000 | 2,192,000 | 2,635,000 | 25,449,000 |
(Gains)/losses on divestitures | 0 | -1,000,000 | -865,000 | -718,000 |
Impairment of premises and equipment | 222,000 | 385,000 | 22,000 | 23,004,000 |
Impairment of intangible assets | 48,231,000 | |||
Impairment of other assets | 0 | 0 | 12,000 | 40,504,000 |
Other | 0 | -96,000 | 0 | 7,478,000 |
Total restructuring and repositioning charges | $7,006,000 | $5,303,000 | $24,858,000 | $323,333,000 |
Parent_Company_Financial_Infor2
Parent Company Financial Information (Schedule Of Condensed Statements Of Condition) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Assets: | ||||||
Interest-bearing cash | $1,621,967,000 | $730,297,000 | ||||
Securities available for sale | 3,556,613,000 | [1] | 3,398,457,000 | [2] | ||
Allowance for loan losses | -232,448,000 | -253,809,000 | -276,963,000 | -384,351,000 | ||
Investments in subsidiaries: | ||||||
Other assets | 1,387,755,000 | 1,685,384,000 | ||||
Total assets | 25,672,887,000 | 23,789,833,000 | ||||
Liabilities and equity: | ||||||
Other short-term borrowings | 157,218,000 | 181,146,000 | ||||
Term borrowings | 1,880,105,000 | 1,739,859,000 | ||||
Total liabilities | 23,081,919,000 | 21,289,082,000 | ||||
Total equity | 2,590,968,000 | 2,500,751,000 | 2,509,206,000 | 2,684,637,000 | ||
Total liabilities and equity | 25,672,887,000 | 23,789,833,000 | ||||
Parent Company [Member] | ||||||
Assets: | ||||||
Cash | 167,562,000 | 81,271,000 | 20,421,000,000 | 16,816,000,000 | ||
Interest-bearing cash | 0 | 15,800,000 | ||||
Securities available for sale | 2,634,000 | 1,643,000 | ||||
Notes receivable | 3,460,000 | 3,610,000 | ||||
Allowance for loan losses | 925,000 | 925,000 | ||||
Investments in subsidiaries: | ||||||
Bank | 3,066,534,000 | 3,040,499,000 | ||||
Non-bank | 17,870,000 | 18,044,000 | ||||
Other assets | 195,898,000 | 207,498,000 | ||||
Total assets | 3,453,033,000 | 3,367,440,000 | ||||
Liabilities and equity: | ||||||
Other short-term borrowings | 3,000,000 | 0 | ||||
Accrued employee benefits and other liabilities | 138,233,000 | 158,091,000 | ||||
Term borrowings | 720,832,000 | 708,598,000 | ||||
Total liabilities | 862,065,000 | 866,689,000 | ||||
Total equity | 2,590,968,000 | 2,500,751,000 | ||||
Total liabilities and equity | $3,453,033,000 | $3,367,440,000 | ||||
[1] | Includes $3.3billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||
[2] | Includes $3.1 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. |
Parent_Company_Financial_Infor3
Parent Company Financial Information (Schedule Of Condensed Statements Of Income) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Dividend income: | ||||
Other income | $32,263,000 | $40,341,000 | $46,941,000 | |
Adjusted gross income after provision for loan losses | 1,150,762,000 | 1,166,951,000 | 1,281,996,000 | |
Provision/(provision credit) for loan losses | 27,000,000 | 55,000,000 | 78,000,000 | [1] |
Interest expense: | ||||
Short-term debt | 4,765,000 | 4,704,000 | 5,286,000 | |
Term borrowings | 34,570,000 | 36,321,000 | 39,334,000 | |
Total interest expense | 81,531,000 | 94,679,000 | 110,286,000 | |
Compensation, employee benefits and other expense | 478,159,000 | 529,041,000 | 640,857,000 | |
Income/(loss) before income taxes | 309,551,000 | 8,350,000 | -101,705,000 | |
Income tax benefit | 78,501,000 | -32,169,000 | -85,262,000 | |
Equity in undistributed net inome/(loss) of subsidiaries: | ||||
Net income/(loss) attributable to controlling interest | 219,523,000 | 29,602,000 | -27,759,000 | |
Parent Company [Member] | ||||
Dividend income: | ||||
Bank | 180,000,000 | 180,000,000 | 100,000,000,000 | |
Non-bank | 446,000 | 957,000 | 390,000,000 | |
Total dividend income | 180,446,000 | 180,957,000 | 100,390,000 | |
Interest income | 2,000 | 125,000 | 329,000 | |
Other income | 6,265,000 | 3,468,000 | 1,050,000 | |
Adjusted gross income after provision for loan losses | 186,713,000 | 184,550,000 | 101,769,000 | |
Provision/(provision credit) for loan losses | 0 | -925,000 | -1,850,000 | |
Interest expense: | ||||
Short-term debt | 9,000 | 20,000 | 50,000 | |
Term borrowings | 23,808,000 | 24,058,000 | 24,365,000 | |
Total interest expense | 23,817,000 | 24,078,000 | 24,415,000 | |
Compensation, employee benefits and other expense | 30,400,000 | 37,490,000 | 40,286,000 | |
Total expense | 54,217,000 | 60,643,000 | 62,851,000 | |
Income/(loss) before income taxes | 132,496,000 | 123,907,000 | 38,918,000 | |
Income tax benefit | -20,599,000 | -20,897,000 | -23,653,000 | |
Income/(loss) before equity in undistributed net income of subsidiaries | 153,095,000 | 144,804,000 | 62,571,000 | |
Equity in undistributed net inome/(loss) of subsidiaries: | ||||
Bank | 65,840,000 | -114,902,000 | -90,769,000 | |
Non-bank | 588,000 | -300,000 | 439,000 | |
Net income/(loss) attributable to controlling interest | $219,523,000 | $29,602,000 | ($27,759,000) | |
[1] | 2012 includes approximately $23 million of loan loss provision related to dischargedbankruptcies. |
Parent_Company_Financial_Infor4
Parent Company Financial Information (Schedule Of Cash Flows) (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Net income/(loss) | $219,523,000 | $29,602,000 | ($27,759,000) | |||
Adjustments to reconcile income to net cash provided by operating activities: | ||||||
Depreciation, amortization, and other | 56,896,000 | 71,616,000 | 117,972,000 | |||
Loss on securities | -2,872,000 | -2,211,000 | -365,000 | |||
Stock-based compensation expense | 11,351,000 | 16,144,000 | 16,201,000 | |||
Net (increase)/decrease in interest receivable and other assets | 288,148,000 | 8,787,000 | 188,423,000 | |||
Net (decrease)/increase in interest payable and other liabilities | -60,599,000 | -285,843,000 | -223,446,000 | |||
Total adjustments | 473,684,000 | 390,306,000 | 387,847,000 | |||
Net cash provided/(used) by operating activities | 704,734,000 | 431,373,000 | 371,552,000 | |||
Securities: | ||||||
Sales and prepayments | 7,829,000 | 63,787,000 | 47,536,000 | |||
Purchases | -751,365,000 | -1,348,526,000 | -1,157,906,000 | |||
Premises and equipment: | ||||||
Purchases | -38,880,000 | -41,463,000 | -21,862,000 | |||
Decrease/(increase) in interest-bearing cash | -891,670,000 | -349,940,000 | 99,483,000 | |||
Net cash provided/(used) by investing activities | -1,486,679,000 | 762,953,000 | -415,165,000 | |||
Preferred stock: | ||||||
Proceeds from issuance of preferred stock | 0 | 95,624,000 | 0 | |||
Cash dividends | -6,200,000 | -4,288,000 | 0 | |||
Common stock: | ||||||
Exercise of stock options | 1,864,000 | 651,000 | 144,000 | |||
Cash dividends | -47,366,000 | -38,229,000 | -10,066,000 | |||
Repurchase of shares | -43,579,000 | [1] | -91,533,000 | [1] | -133,757,000 | [1] |
Term borrowings: | ||||||
Repayment of term borrowings | -23,572,000 | -430,088,000 | -234,209,000 | |||
Increase/(decrease) in short-term borrowings | 89,916,000 | -738,650,000 | 288,060,000 | |||
Net cash provided/(used) by financing activities | 1,025,441,000 | -1,472,679,000 | 321,620,000 | |||
Net increase/(decrease) in cash and cash equivalents | 243,496,000 | -278,353,000 | 278,007,000 | |||
Total interest paid | 81,151,000 | 97,387,000 | 111,033,000 | |||
Total taxes paid | 77,779,000 | 5,437,000 | 33,112,000 | |||
Parent Company [Member] | ||||||
Net income/(loss) | 219,523,000 | 29,602,000 | -27,759,000 | |||
Less undistributed net loss of subsidiaries | 66,428,000 | -115,202,000 | -90,330,000 | |||
Income/(loss) before equity in undistributed net income of subsidiaries | 153,095,000 | 144,804,000 | 62,571,000 | |||
Adjustments to reconcile income to net cash provided by operating activities: | ||||||
Depreciation, amortization, and other | -390,000 | -1,314,000 | -2,335,000 | |||
Loss on securities | 5,736,000 | 2,182,000 | 0 | |||
Stock-based compensation expense | 11,351,000 | 16,144,000 | 16,201,000 | |||
Net (increase)/decrease in interest receivable and other assets | 1,836,000 | 4,959,000 | 14,945,000 | |||
Net (decrease)/increase in interest payable and other liabilities | 1,505,000 | 8,626,000 | 1,599,000 | |||
Total adjustments | 4,894,000 | 16,315,000 | 520,000 | |||
Net cash provided/(used) by operating activities | 157,989,000 | 161,119,000 | 63,091,000 | |||
Securities: | ||||||
Sales and prepayments | 4,693,000 | 599,000 | 512,000 | |||
Purchases | 40,000 | 120,000 | 180,000 | |||
Premises and equipment: | ||||||
Purchases | 20,000 | 63,000 | 225,000 | |||
Decrease/(increase) in interest-bearing cash | 15,800,000 | 64,200,000 | 85,000,000 | |||
Return on investment in subsidiary | -150,000 | -90,000 | 0 | |||
Net cash provided/(used) by investing activities | 20,583,000 | 64,706,000 | 85,107,000 | |||
Preferred stock: | ||||||
Proceeds from issuance of preferred stock | 0 | 95,624,000 | 0 | |||
Cash dividends | 6,200,000 | 4,288,000 | 0 | |||
Common stock: | ||||||
Repurchase of common stock warrant - CPP | 0 | 0 | 0 | |||
Exercise of stock options | 1,864,000 | 651,000 | 144,000 | |||
Cash dividends | 47,366,000 | 38,229,000 | 10,066,000 | |||
Repurchase of shares | 43,579,000 | 91,533,000 | 133,757,000 | |||
Term borrowings: | ||||||
Repayment of term borrowings | 0 | 100,000,000 | 0 | |||
Increase/(decrease) in short-term borrowings | 3,000,000 | -27,200,000 | -900,000 | |||
Other | 0 | 0 | -14,000 | |||
Net cash provided/(used) by financing activities | -92,281,000 | -164,975,000 | -144,593,000 | |||
Net increase/(decrease) in cash and cash equivalents | 86,291,000 | 60,850,000 | 3,605,000 | |||
Cash and cash equivalents at beginning of period | 81,271,000 | 20,421,000,000 | 16,816,000,000 | |||
Cash and cash equivalents at end of period | 167,562,000 | 81,271,000 | 20,421,000,000 | |||
Total interest paid | 23,282,000 | 24,102,000 | 23,858,000 | |||
Total taxes paid | $17,053,000 | $31,075,000 | $10,671,000 | |||
[1] | 2014 includes $38.5 million repurchased under the share repurchase program launched in 2014. 2013 and 2012 include $87.6 million, and $131.0 million, respectively, repurchased under the share repurchase program which was active from October 2011 to January 2014. |