Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended |
Mar. 31, 2015 | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | FIRST HORIZON NATIONAL CORP |
Entity Central Index Key | 36966 |
Document Type | 10-Q |
Document Period End Date | 31-Mar-15 |
Amendment Flag | FALSE |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q1 |
Current Fiscal Year End Date | -19 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 233,498,534 |
trading symbol | FHN |
Consolidated_Statements_Of_Con
Consolidated Statements Of Condition (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |||
Assets: | ||||||
Cash and due from banks | $282,800,000 | $349,171,000 | $450,270,000 | |||
Federal funds sold | 43,052,000 | 63,080,000 | 16,555,000 | |||
Securities purchased under agreements to resell (Note 15) | 831,541,000 | 659,154,000 | 605,276,000 | |||
Total cash and cash equivalents | 1,157,393,000 | 1,071,405,000 | 1,072,101,000 | |||
Interest-bearing cash | 438,633,000 | 1,621,967,000 | 685,540,000 | |||
Trading securities | 1,532,463,000 | 1,194,391,000 | 1,194,749,000 | |||
Loans held-for-sale | 133,958,000 | [1] | 141,285,000 | 361,359,000 | ||
Securities available-for-sale (Note 3) | 3,672,331,000 | [2] | 3,556,613,000 | 3,571,179,000 | [3] | |
Securities held-to-maturity (Note 3) | 4,299,000 | 4,292,000 | 4,274,000 | |||
Loans, net of unearned income (Note 4) | 16,732,123,000 | [4] | 16,230,166,000 | 15,119,461,000 | ||
Less: Allowance for loan losses (Note 5) | 228,328,000 | 232,448,000 | 247,246,000 | |||
Total net loans | 16,503,795,000 | 15,997,718,000 | 14,872,215,000 | |||
Goodwill (Note 6) | 145,932,000 | 145,932,000 | 141,943,000 | |||
Other intangible assets, net (Note 6) | 28,220,000 | [5] | 29,518,000 | [5] | 21,007,000 | [5] |
Capital markets receivables | 190,662,000 | 42,488,000 | 51,082,000 | |||
Premises and equipment, net | 301,069,000 | 302,996,000 | 299,183,000 | |||
Real estate acquired by foreclosure | 39,776,000 | [6] | 39,922,000 | 66,035,000 | ||
Derivative assets (Note 14) | 148,153,000 | 134,088,000 | 166,465,000 | |||
Other assets | 1,419,204,000 | 1,385,572,000 | 1,429,704,000 | |||
Total assets | 25,715,888,000 | 25,668,187,000 | 23,936,836,000 | |||
Deposits: | ||||||
Savings | 7,428,000,000 | 7,455,354,000 | 6,630,142,000 | |||
Time deposits | 792,914,000 | 831,666,000 | 898,223,000 | |||
Other interest-bearing deposits | 4,939,240,000 | 4,140,991,000 | 4,071,699,000 | |||
Certificates of deposit $100,000 and more | 417,503,000 | 445,272,000 | 538,434,000 | |||
Interest-bearing | 13,577,657,000 | 12,873,283,000 | 12,138,498,000 | |||
Noninterest-bearing | 5,060,897,000 | 5,195,656,000 | 4,534,245,000 | |||
Total deposits | 18,638,554,000 | 18,068,939,000 | 16,672,743,000 | |||
Federal funds purchased | 703,352,000 | 1,037,052,000 | 1,135,665,000 | |||
Securities sold under agreements to repurchase (Note 15) | 309,297,000 | 562,214,000 | 411,795,000 | |||
Trading liabilities | 813,141,000 | 594,314,000 | 667,257,000 | |||
Other short-term borrowings | 158,745,000 | 157,218,000 | 204,023,000 | |||
Term borrowings | 1,573,215,000 | 1,880,105,000 | 1,507,048,000 | |||
Capital markets payables | 91,176,000 | 18,157,000 | 39,510,000 | |||
Derivative liabilities (Note 14) | 133,273,000 | 119,239,000 | 137,863,000 | |||
Other liabilities | 795,878,000 | 649,359,000 | 628,420,000 | |||
Total liabilities | 23,216,631,000 | 23,086,597,000 | 21,404,324,000 | |||
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 March 31, 2015, March 31, 2014 and December 31, 2014) | 95,624,000 | 95,624,000 | 95,624,000 | |||
Common stock - $.625 par value (shares authorized - 400,000,000; shares issued - 233,498,534 on March 31, 2015; 236,586,017 on March 31, 2014; and 234,219,663 on December 31, 2014) | 145,937,000 | 146,387,000 | 147,866,000 | |||
Capital surplus | 1,370,711,000 | 1,380,809,000 | 1,417,170,000 | |||
Undivided profits | 760,713,000 | 851,585,000 | 716,540,000 | |||
Accumulated other comprehensive loss, net (Note 8) | -169,159,000 | -188,246,000 | -140,119,000 | |||
Total First Horizon National Corporation Shareholders' Equity | 2,203,826,000 | 2,286,159,000 | 2,237,081,000 | |||
Noncontrolling interest | 295,431,000 | 295,431,000 | 295,431,000 | |||
Total equity | 2,499,257,000 | 2,581,590,000 | 2,532,512,000 | |||
Total liabilities and equity | $25,715,888,000 | $25,668,187,000 | $23,936,836,000 | |||
[1] | (a) March 31, 2015 includes $23.8 million of held-for-sale consumer mortgage loans secured by residential real estate properties in process of foreclosure. | |||||
[2] | Includes $3.2billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||
[3] | Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||
[4] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | |||||
[5] | (a) Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. | |||||
[6] | (c) March 31, 2015 includes $17.5 million of foreclosed residential real estate properties. |
Recovered_Sheet1
Consolidated Statements of Condition (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Real Estate Acquired Through Foreclosure | $39,776,000 | [1] | $39,922,000 | $66,035,000 |
Common stock, par value | $0.63 | $0.63 | $0.63 | |
Common stock, shares authorized | 400,000,000 | 400,000,000 | 400,000,000 | |
Common stock, shares issued | 233,498,534 | 234,219,663 | 236,586,017 | |
Preferred stock, no par value | $0 | $0 | $0 | |
Preferred Stock Liquidation Preference Value | $100,000 | $100,000 | $100,000 | |
Preferred stock, shares authorized | 1,000 | 1,000 | 1,000 | |
Preferred stock, shares issued | 1,000 | 1,000 | 1,000 | |
Residential Real Estate [Member] | ||||
Mortgage Loans In Process Of Foreclosure, Amount | 28,000,000 | |||
Real Estate Acquired Through Foreclosure | 17,500,000 | |||
Residential Real Estate [Member] | Loans Held-For-Sale | ||||
Mortgage Loans In Process Of Foreclosure, Amount | $23,800,000 | |||
[1] | (c) March 31, 2015 includes $17.5 million of foreclosed residential real estate properties. |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | |
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest income: | ||
Interest and fees on loans | $143,897,000 | $138,657,000 |
Interest on investment securities available-for-sale | 22,834,000 | 23,134,000 |
Interest on investment securities held-to-maturity | 66,000 | 66,000 |
Interest on loans held-for-sale | 1,491,000 | 3,215,000 |
Interest on trading securities | 9,101,000 | 8,105,000 |
Interest on other earning assets | 679,000 | 407,000 |
Total interest income | 178,068,000 | 173,584,000 |
Interest on deposits: | ||
Savings | 3,307,000 | 3,083,000 |
Time deposits | 1,432,000 | 3,062,000 |
Other interest-bearing deposits | 957,000 | 818,000 |
Certificates of deposit $100,000 and more | 882,000 | 1,023,000 |
Interest on trading liabilities | 3,914,000 | 3,571,000 |
Interest on short-term borrowings | 1,046,000 | 1,105,000 |
Interest on term borrowings | 9,664,000 | 8,563,000 |
Total interest expense | 21,202,000 | 21,225,000 |
Net interest income | 156,866,000 | 152,359,000 |
Provision for loan losses | 5,000,000 | 10,000,000 |
Net interest income after provision for loan losses | 151,866,000 | 142,359,000 |
Noninterest income: | ||
Capital markets | 61,619,000 | 56,840,000 |
Deposit transactions and cash management | 26,551,000 | 26,456,000 |
Brokerage, management fees and commissions | 11,399,000 | 12,276,000 |
Trust services and investment management | 6,698,000 | 6,744,000 |
Bankcard income | 5,186,000 | 4,520,000 |
Bank-owned life insurance | 3,462,000 | 6,032,000 |
Other service charges | 2,848,000 | 2,845,000 |
Mortgage banking | 1,584,000 | 19,029,000 |
Insurance commissions | 596,000 | 437,000 |
Equity securities gains/(losses), net | 276,000 | 5,657,000 |
All other income and commissions (Note 7) | 9,470,000 | 4,894,000 |
Total noninterest income | 129,689,000 | 145,730,000 |
Adjusted gross income after provision for loan losses | 281,555,000 | 288,089,000 |
Noninterest expense: | ||
Employee compensation, incentives, and benefits (three months ended March 31, 2015 and 2014, include $1.8 million and $.7 million, respectively, of expense associated with pension and post-retirement plans reclassified from accumulated other comprehensive income) | 131,444,000 | 119,229,000 |
Occupancy | 12,218,000 | 17,592,000 |
Computer software | 10,942,000 | 10,656,000 |
Operations services | 9,337,000 | 8,982,000 |
Legal and professional fees | 7,257,000 | 15,039,000 |
Equipment rentals, depreciation, and maintenance | 7,220,000 | 7,849,000 |
Advertising and public relations | 4,733,000 | 5,908,000 |
Contract employment and outsourcing | 4,584,000 | 4,325,000 |
Communications and courier | 3,876,000 | 4,224,000 |
FDIC premium expense | 3,448,000 | 3,991,000 |
Amortization of intangible assets | 1,298,000 | 982,000 |
Foreclosed real estate | -131,000 | 784,000 |
All other expense (Note 7) | 179,995,000 | 18,483,000 |
Total noninterest expense | 376,221,000 | 218,044,000 |
Income/(loss) before income taxes | -94,666,000 | 70,045,000 |
Provision/(benefit) for income taxes (three months ended March 31, 2015 and 2014 include $.7 million and $.3 million, respectively, of tax benefit reclassified from accumulated other comprehensive income) (Note 16) | -22,261,000 | 20,066,000 |
Net income/(loss) | -72,405,000 | 49,979,000 |
Net income attributable to noncontrolling interest | 2,758,000 | 2,813,000 |
Net income/(loss) attributable to controlling interest | -75,163,000 | 47,166,000 |
Preferred stock dividends | 1,550,000 | 1,550,000 |
Net income/(loss) available to common shareholders | ($76,713,000) | $45,616,000 |
Basic earnings/(loss) per share (Note 9) | ($0.33) | $0.19 |
Diluted earnings/(loss) per share (Note 9) | ($0.33) | $0.19 |
Weighted average common shares (Note 9) | 232,816 | 235,183 |
Diluted average common shares (Note 9) | 232,816 | 237,401 |
Recovered_Sheet2
Consolidated Statements of Income (Parenthetical) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Consolidated Condensed Statements Of Income [Abstract] | ||
Pension and post-retirement plans expense reclassified from accumulated other comprehensive income | $1.80 | $0.70 |
Income tax benefit reclassified from accumulated other comprehensive income | $0.70 | $0.30 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Components Of Other Comprehensive Income/(Loss) [Abstract] | ||||
Net income/(loss) | ($72,405,000) | $49,979,000 | ||
Unrealized fair value adjustments: | ||||
Securities available-for-sale | 18,004,000 | 9,479,000 | ||
Recognized pension and other employee benefit plans net periodic benefit costs | 1,083,000 | 411,000 | ||
Other comprehensive income/(loss) | 19,087,000 | [1] | 9,890,000 | [1] |
Comprehensive income/(loss) | -53,318,000 | 59,869,000 | ||
Comprehensive income attributable to noncontrolling interest | 2,758,000 | 2,813,000 | ||
Comprehensive income/(loss) attributable to controlling interest | ($56,076,000) | $57,056,000 | ||
[1] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income/(loss) have been attributed solely to FHN as the controlling interest holder. |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Noncontrolling Interest | Controlling Interest | |
Balance, at Dec. 31, 2013 | $2,488,377,000 | $295,431,000 | $2,192,946,000 | |
Net income/(loss) | 49,979,000 | 2,813,000 | 47,166,000 | |
Other comprehensive income/(loss) | [1] | 9,890,000 | 0 | 9,890,000 |
Comprehensive income/(loss) | 59,869,000 | 2,813,000 | 57,056,000 | |
Cash dividends declared: | ||||
Preferred stock ($1,500 per share for the three months ended March 31, 2015 and 2014) | -1,550,000 | 0 | -1,550,000 | |
Common stock ($.06 and $.05 per share for the three months ended March 31, 2015 and 2014, respectively) | -11,909,000 | 0 | -11,909,000 | |
Common stock repurchased | -2,351,000 | 0 | -2,351,000 | |
Common stock issued for: | ||||
Stock options and restricted stock-equity awards | 362,000 | 0 | 362,000 | |
Stock-based compensation expense | 2,760,000 | 0 | 2,760,000 | |
Dividends declared-noncontrolling interest of subsidiary preferred stock | -2,813,000 | -2,813,000 | 0 | |
Tax benefit/(benefit reversal) - stock-based compensation expense | -233,000 | 0 | -233,000 | |
Balance, at Mar. 31, 2014 | 2,532,512,000 | 295,431,000 | 2,237,081,000 | |
Balance, at Dec. 31, 2014 | 2,581,590,000 | 295,431,000 | 2,286,159,000 | |
Net income/(loss) | -72,405,000 | 2,758,000 | -75,163,000 | |
Other comprehensive income/(loss) | [1] | 19,087,000 | 0 | 19,087,000 |
Comprehensive income/(loss) | -53,318,000 | 2,758,000 | -56,076,000 | |
Cash dividends declared: | ||||
Preferred stock ($1,500 per share for the three months ended March 31, 2015 and 2014) | -1,550,000 | 0 | -1,550,000 | |
Common stock ($.06 and $.05 per share for the three months ended March 31, 2015 and 2014, respectively) | -14,159,000 | 0 | -14,159,000 | |
Common stock repurchased | [2] | -16,767,000 | 0 | -16,767,000 |
Common stock issued for: | ||||
Stock options and restricted stock-equity awards | 3,173,000 | 0 | 3,173,000 | |
Stock-based compensation expense | 3,024,000 | 0 | 3,024,000 | |
Dividends declared-noncontrolling interest of subsidiary preferred stock | -2,758,000 | -2,758,000 | 0 | |
Tax benefit/(benefit reversal) - stock-based compensation expense | -22,000 | 0 | 22,000 | |
Balance, at Mar. 31, 2015 | $2,499,257,000 | $295,431,000 | $2,203,826,000 | |
[1] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income/(loss) have been attributed solely to FHN as the controlling interest holder. | |||
[2] | 2015 includes $15.8 million repurchased under the share repurchase program launched in January 2014 |
Consolidated_Statements_Of_Equ1
Consolidated Statements Of Equity (Parenthetical) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | ||
Common stock - cash dividends declared per share | $0.06 | $0.05 | |
Common stock repurchased | $16,767,000 | [1] | $2,351,000 |
Preferred Stock Dividends Per Share Declared | $1,550 | $1,550 | |
Stock Repurchase Authorization [Member] | |||
Common stock repurchased | $15,800,000 | ||
[1] | 2015 includes $15.8 million repurchased under the share repurchase program launched in January 2014 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flow (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | ||
Operating Activities | |||
Net income/(loss) | ($72,405,000) | $49,979,000 | |
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities: | |||
Provision for loan losses | 5,000,000 | 10,000,000 | |
Provision/(benefit) for deferred income taxes | -25,254,000 | -2,333,000 | |
Depreciation and amortization of premises and equipment | 9,144,000 | 9,063,000 | |
Amortization of intangible assets | 1,299,000 | 982,000 | |
Net other amortization and accretion | 4,613,000 | 4,030,000 | |
Net (increase)/decrease in derivatives | 713,000 | -655,000 | |
Fair value adjustment to foreclosed real estate | 376,000 | 858,000 | |
Litigation and regulatory matters | 162,500,000 | 90,000 | |
Stock-based compensation expense | 3,024,000 | 2,760,000 | |
Tax benefit/(benefit reversal) - stock-based compensation expense | -22,000 | 233,000 | |
Equity securities (gains)/losses, net | -276,000 | -5,657,000 | |
(Gains)/losses on extinguishment of debt | 0 | 4,350,000 | |
Loss on deconsolidation of securitization trust | 0 | 1,960,000 | |
Net (gains)/losses on sale/disposal of fixed assets | -13,000 | 750,000 | |
Proceeds from sale of mortgage servicing rights | 0 | 68,519,000 | |
Net (increase)/decrease in: | |||
Trading securities | -338,597,000 | -391,890,000 | |
Loans held-for-sale | 7,327,000 | 8,793,000 | |
Capital markets receivables | -148,174,000 | -5,827,000 | |
Interest receivable | -5,415,000 | -3,806,000 | |
Other assets | -19,442,000 | 254,360,000 | |
Net increase/(decrease) in: | |||
Capital markets payables | 73,019,000 | 18,337,000 | |
Interest payable | 7,750,000 | 9,444,000 | |
Other liabilities | -25,580,000 | 9,241,000 | |
Trading liabilities | 218,827,000 | 298,909,000 | |
Total adjustments | -69,181,000 | 292,511,000 | |
Net cash provided/(used) by operating activities | -141,586,000 | 342,490,000 | |
Available-for-sale securities: | |||
Sales | 276,000 | 13,000 | |
Maturities | 142,858,000 | 187,922,000 | |
Purchases | -231,534,000 | -346,146,000 | |
Premises and equipment: | |||
Sales | 2,849,000 | 0 | |
Purchases | -10,053,000 | -3,752,000 | |
Net (increase)/decrease in: | |||
Loans | -507,890,000 | 248,530,000 | |
Interests retained from securitizations classified as trading securities | 525,000 | 418,000 | |
Interest-bearing cash | 1,183,334,000 | 44,757,000 | |
Net cash provided/(used) by investing activities | 580,365,000 | 131,742,000 | |
Common stock: | |||
Stock options exercised | 3,340,000 | 229,000 | |
Cash dividends paid | -11,749,000 | -11,895,000 | |
Repurchase of shares | -16,767,000 | [1] | -2,351,000 |
Tax benefit/(benefit reversal) - stock-based compensation expense | 22,000 | -233,000 | |
Cash dividends paid - preferred stock - noncontrolling interest | -2,945,000 | -2,875,000 | |
Cash dividends paid - Series A preferred stock | -1,550,000 | -1,550,000 | |
Term borrowings: | |||
Payments/maturities | -307,834,000 | -9,489,000 | |
Increases in restricted and secured term borrowings | 0 | 240,000 | |
Net cash paid to deconsolidate/collapse securitization trusts | 0 | -225,151,000 | |
Net increase/(decrease) in: | |||
Deposits | 569,782,000 | -61,880,000 | |
Short-term borrowings | -585,090,000 | 84,915,000 | |
Net cash provided/(used) by financing activities | -352,791,000 | -230,040,000 | |
Net increase/(decrease) in cash and cash equivalents | 85,988,000 | 244,192,000 | |
Cash and cash equivalents at beginning of period | 1,071,405,000 | 827,909,000 | |
Cash and cash equivalents at end of period | 1,157,393,000 | 1,072,101,000 | |
Supplemental Disclosures | |||
Total interest paid | 13,218,000 | 11,402,000 | |
Total taxes paid | 10,554,000 | 6,340,000 | |
Total taxes refunded | 187,000 | 1,238,000 | |
Transfer from loans to other real estate owned | $3,462,000 | $6,902,000 | |
[1] | 2015includes $15.8 million repurchased under the share repurchase program launched in January 2014. |
Consolidated_Statements_Of_Cas1
Consolidated Statements Of Cash Flow (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | ||
Shares repurchased under the share repurchase program, value | $16,767,000 | [1] |
Stock Repurchase Authorization | ||
Shares repurchased under the share repurchase program, value | $15,800,000 | |
[1] | 2015includes $15.8 million repurchased under the share repurchase program launched in January 2014. |
Financial_Information
Financial Information | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Financial Information [Abstract] | ||||||||||||||
Financial Information | Notes to the Consolidated Condensed Financial Statements (Unaudited) | |||||||||||||
Note 1 – Financial Information | ||||||||||||||
Basis of Accounting. The unaudited interim consolidated condensed 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. In the opinion of management, all necessary adjustments have been made for a fair presentation of financial position and results of operations for the periods presented. These adjustments are of a normal recurring nature unless otherwise disclosed in this Quarterly Report on Form 10-Q. The operating results for the interim 2015 period are not necessarily indicative of the results that may be expected going forward. For further information, refer to the audited consolidated financial statements in the 2014 Annual Report to shareholders, which were filed as Exhibit 13 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2014. | ||||||||||||||
Summary of Accounting Changes. 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. | ||||||||||||||
Effective January 1, 2015, FHN retroactively adopted the requirements of ASU 2014-01 with an election to use the proportional amortization method for all qualifying investments. FHN believes the proportional amortization method better represents the economics of its qualified affordable housing investments and provides users with a better understanding of the returns from such investments when compared to the equity method. FHN will continue to use the equity method for non-qualifying affordable housing investments and its other tax credit investments. The cumulative effects of the retrospective application of the change in amortization method are summarized in the tables below. | ||||||||||||||
As of March 31, | ||||||||||||||
As of December 31, | ||||||||||||||
(Dollars in thousands, except per share amounts) | 2014 | 2014 | 2013 | |||||||||||
Increase/(decrease) to previously reported Consolidated Statements of Condition amounts | ||||||||||||||
Other assets | $ | -5,153 | $ | -4,700 | $ | -5,340 | ||||||||
Other liabilities | 6,472 | 4,678 | 7,034 | |||||||||||
Undivided profits | -11,625 | -9,378 | -12,374 | |||||||||||
Three months ended March 31, | For the Year Ended December 31, | |||||||||||||
2014 | 2014 | 2013 | 2012 | |||||||||||
Increase/(decrease) to previously reported Consolidated Statements of Income amounts | ||||||||||||||
Other expense | $ | -2,170 | $ | -8,680 | $ | -10,082 | $ | -14,177 | ||||||
Provision/(benefit) for income taxes | 1,421 | 5,684 | 12,780 | 13,234 | ||||||||||
Income/(loss) available to common shareholders | 749 | 2,996 | -2,698 | 943 | ||||||||||
Diluted earnings/(loss) per share | - | 0.01 | -0.01 | - | ||||||||||
Investment balances, including all legally binding commitments to fund future investments, are included in Other assets on the Consolidated Condensed Statements of Condition. A liability is recognized in Other liabilities on the Consolidated Condensed Statement of Condition for all legally binding unfunded commitments to fund qualifying LIHTC investments. Amortization and other write-downs of qualifying LIHTC investments are presented on a net basis as a component of the Provision/(benefit) for income taxes on the Consolidated Condensed Statement of Income, while amortization and write-downs of non-qualifying LIHTC and other tax credit investments are recorded in Other expense. The income tax credits and deductions are recorded as a reduction of income tax expense and a reduction of federal income taxes payable. | ||||||||||||||
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 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 is required 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 adopted the requirements of ASU 2014-04 prospectively and this did not have a material effect on FHN’s statements of condition, results of operation or cash flows. | ||||||||||||||
In August 2014, the FASB issued ASU 2014-14, “Classification of Certain Government-Guaranteed Mortgage Loan 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 is 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 adopted the requirements for ASU 2014-14 prospectively for transactions occurring after its effective date and this did not have a material effect on FHN’s statement of condition, results of operation or cash flows. | ||||||||||||||
Accounting Changes Issued but Not Currently Effective | ||||||||||||||
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 ASU2014-09 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 execute 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 2014-15, “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, 2016 and all interim and annual periods thereafter. The provisions of ASU 2014-15 are not anticipated to affect FHN. | ||||||||||||||
In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis.” ASU 2015-02 revises current consolidation guidance to modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities. ASU 2015-02 also eliminates the presumption that a general partner should consolidate a limited partnership, revises the consolidation analysis for reporting entities that have fee arrangements and related party relationships with variable interest entities, and provides a scope exception for entities with interests in registered money market funds. ASU 2015-02 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. FHN is evaluating the effects of ASU 2015-02 on its current consolidation assessments. | ||||||||||||||
In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented as a direct reduction from the carrying value of that debt liability, consistent with debt discounts. ASU 2015-03 requires application on a retrospective basis, with prior periods revised to reflect the effects of adoption. ASU 2015-03 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Consistent with current requirements, FHN currently classifies debt issuance costs within Other assets in the Consolidated Condensed Statements of Condition. ASU 2015-03 will have no effect on the recognition of interest expense. | ||||||||||||||
Acquisitions_and_Divestitures
Acquisitions and Divestitures | 3 Months Ended |
Mar. 31, 2015 | |
Acquisitions and Divestitures [Abstract] | |
Acquisitions and Divestitures | Note 2 – Acquisitions and Divestitures |
On October 17, 2014, First Tennessee Bank National Association ("FTBNA") purchased thirteen bank branches in Middle and East Tennessee. 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. In relation to the branch acquisition FHN recorded $4.0 million 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 6 – Intangible Assets for additional information), all of which is expected to be deductible for tax purposes. FHN’s operating results for 2015 and 2014 include the impact of branch activity subsequent to the October 17, 2014 closing date. | |
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 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 | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Investment Securities [Abstract] | |||||||||||||||||||
Investment Securities | Note 3 – Investment Securities | ||||||||||||||||||
The following tables summarize FHN’s investment securities on March 31, 2015 and 2014: | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
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") | 727,828 | 35,718 | -696 | 762,850 | |||||||||||||||
Government agency issued collateralized mortgage obligations ("CMO") | 2,691,544 | 35,030 | -10,427 | 2,716,147 | |||||||||||||||
Other U.S. government agencies | 1,655 | 36 | - | 1,691 | |||||||||||||||
States and municipalities | 9,905 | - | - | 9,905 | |||||||||||||||
Equity and other (a) | 181,834 | - | -196 | 181,638 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,612,866 | $ | 70,784 | $ | -11,319 | $ | 3,672,331 | |||||||||||
Securities held-to-maturity ("HTM"): | |||||||||||||||||||
States and municipalities | $ | 4,299 | $ | 1,152 | $ | - | $ | 5,451 | |||||||||||
Total securities held-to-maturity | $ | 4,299 | $ | 1,152 | $ | - | $ | 5,451 | |||||||||||
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 $3.2 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
Securities available-for-sale: | |||||||||||||||||||
U.S. treasuries | $ | 39,989 | $ | 1 | $ | - | $ | 39,990 | |||||||||||
Government agency issued MBS | 762,069 | 34,332 | -3,839 | 792,562 | |||||||||||||||
Government agency issued CMO | 2,565,310 | 13,996 | -47,536 | 2,531,770 | |||||||||||||||
Other U.S. government agencies | 2,078 | 104 | - | 2,182 | |||||||||||||||
States and municipalities | 15,155 | - | - | 15,155 | |||||||||||||||
Equity and other (a) | 189,543 | - | -23 | 189,520 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,574,144 | $ | 48,433 | $ | -51,398 | $ | 3,571,179 | |||||||||||
Securities held-to-maturity: | |||||||||||||||||||
States and municipalities | $ | 4,274 | $ | 1,180 | $ | - | $ | 5,454 | |||||||||||
Total securities held-to-maturity | $ | 4,274 | $ | 1,180 | $ | - | $ | 5,454 | |||||||||||
Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. The remainder is money market, venture capital, 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. | |||||||||||||||||||
The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity securities portfolios on March 31, 2015, are provided below: | |||||||||||||||||||
Held-to-Maturity | Available-for-Sale | ||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Value | Cost | Value | |||||||||||||||
Within 1 year | $ | - | $ | - | $ | 1,655 | $ | 1,691 | |||||||||||
After 1 year; within 5 years | - | - | 1,600 | 1,600 | |||||||||||||||
After 5 years; within 10 years | - | - | - | - | |||||||||||||||
After 10 years | 4,299 | 5,451 | 8,405 | 8,405 | |||||||||||||||
Subtotal | 4,299 | 5,451 | 11,660 | 11,696 | |||||||||||||||
Government agency issued MBS and CMO (a) | - | - | 3,419,372 | 3,478,997 | |||||||||||||||
Equity and other | - | - | 181,834 | 181,638 | |||||||||||||||
Total | $ | 4,299 | $ | 5,451 | $ | 3,612,866 | $ | 3,672,331 | |||||||||||
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 three months ended March 31: | |||||||||||||||||||
Available-for-sale | |||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||
Gross gains on sales of securities | $ | 276 | $ | 5,657 | |||||||||||||||
Gross (losses) on sales of securities | - | - | |||||||||||||||||
Net gain/(loss) on sales of securities (a) | $ | 276 | $ | 5,657 | |||||||||||||||
Proceeds for the three months ended March 31, 2015 were $.3 million. Proceeds for the three months ended March 31, 2014 were $5.7 million, inclusive of $1.4 million of equity securities. | |||||||||||||||||||
The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of March 31, 2015 and 2014: | |||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||
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 | $ | 417,267 | $ | -1,729 | $ | 485,053 | $ | -8,698 | $ | 902,320 | $ | -10,427 | |||||||
Government agency issued MBS | 25,712 | -79 | 34,853 | -617 | 60,565 | -696 | |||||||||||||
Total debt securities | 442,979 | -1,808 | 519,906 | -9,315 | 962,885 | -11,123 | |||||||||||||
Equity | 887 | -161 | 9 | -35 | 896 | -196 | |||||||||||||
Total temporarily impaired securities | $ | 443,866 | $ | -1,969 | $ | 519,915 | $ | -9,350 | $ | 963,781 | $ | -11,319 | |||||||
As of March 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 | $ | 1,637,064 | $ | -43,221 | $ | 77,904 | $ | -4,315 | $ | 1,714,968 | $ | -47,536 | |||||||
Government agency issued MBS | 144,901 | -3,839 | - | - | 144,901 | -3,839 | |||||||||||||
Total debt securities | 1,781,965 | -47,060 | 77,904 | -4,315 | 1,859,869 | -51,375 | |||||||||||||
Equity | 43 | -23 | - | - | 43 | -23 | |||||||||||||
Total temporarily impaired securities | $ | 1,782,008 | $ | -47,083 | $ | 77,904 | $ | -4,315 | $ | 1,859,912 | $ | -51,398 | |||||||
FHN has reviewed investment securities that were in unrealized loss positions in accordance with its accounting policy for other than temporary impairment (“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 market changes in 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 | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||
Loans | Note 4 – Loans | ||||||||||||||||||||||||||||
The following table provides the balance of loans by portfolio segment as of March 31, 2015 and 2014, and December 31, 2014: | |||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | 2014 | ||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial, financial, and industrial | $ | 9,638,355 | $ | 7,752,995 | $ | 9,007,286 | |||||||||||||||||||||||
Commercial real estate | 1,320,897 | 1,152,418 | 1,277,717 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Consumer real estate (a) | 4,922,817 | 5,258,014 | 5,048,071 | ||||||||||||||||||||||||||
Permanent mortgage | 511,708 | 622,242 | 538,961 | ||||||||||||||||||||||||||
Credit card & other | 338,346 | 333,792 | 358,131 | ||||||||||||||||||||||||||
Loans, net of unearned income | $ | 16,732,123 | $ | 15,119,461 | $ | 16,230,166 | |||||||||||||||||||||||
Allowance for loan losses | 228,328 | 247,246 | 232,448 | ||||||||||||||||||||||||||
Total net loans | $ | 16,503,795 | $ | 14,872,215 | $ | 15,997,718 | |||||||||||||||||||||||
(a) Balances as of March 31, 2015 and 2014, and December 31, 2014 include $71.6 million, $86.7 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - 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 CRE 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 (32 percent of total loans), the majority of which is in the consumer real estate segment (29 percent of total loans). Loans to finance and insurance companies total $2.0 billion (21 percent of the C&I portfolio, or 12 percent of the total loans). FHN had loans to mortgage companies totaling $1.6 billion (17 percent of the C&I segment, or 10 percent of total loans) as of March 31, 2015. As a result, 38 percent of the C&I segment was sensitive to impacts on the financial services industry. | |||||||||||||||||||||||||||||
Purchased Credit Impaired Loans | |||||||||||||||||||||||||||||
The following table presents a rollforward of the accretable yield for the three months ended March 31, 2015 and 2014: | |||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||
31-Mar | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||||||
Balance, beginning of period | $ | 14,714 | $ | 13,490 | |||||||||||||||||||||||||
Additions | - | 111 | |||||||||||||||||||||||||||
Accretion | -3,371 | -1,657 | |||||||||||||||||||||||||||
Adjustment for payoffs | -1,336 | -233 | |||||||||||||||||||||||||||
Adjustment for charge-offs | - | -64 | |||||||||||||||||||||||||||
Increase in accretable yield (a) | 461 | 4,181 | |||||||||||||||||||||||||||
Balance, end of period | $ | 10,468 | $ | 15,828 | |||||||||||||||||||||||||
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 March 31, 2015, the ALLL related to PCI loans was $3.1 million compared to $1.9 million at March 31, 2014. A loan loss provision credit of $.2 million was recognized during the three months ended March 31, 2015 as compared to a loan loss provision expense of $1.2 million recognized during the three months ended March 31, 2014. The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of March 31, 2015 and 2014, and December 31, 2014: | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | 31-Dec-14 | |||||||||||||||||||||||||||
(Dollars in thousands) | Carrying value | Unpaid balance | Carrying value | Unpaid balance | Carrying value | Unpaid balance | |||||||||||||||||||||||
Commercial, financial and industrial | $ | 4,665 | $ | 5,437 | $ | 6,693 | $ | 8,503 | $ | 5,044 | $ | 5,813 | |||||||||||||||||
Commercial real estate | 23,013 | 29,205 | 37,067 | 52,690 | 32,553 | 43,246 | |||||||||||||||||||||||
Consumer real estate | 1,910 | 2,897 | 693 | 973 | 598 | 868 | |||||||||||||||||||||||
Credit card and other | 9 | 12 | - | - | 10 | 14 | |||||||||||||||||||||||
Total | $ | 29,597 | $ | 37,551 | $ | 44,453 | $ | 62,166 | $ | 38,205 | $ | 49,941 | |||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
The following tables provide information at March 31, 2015 and 2014, 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. | |||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
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 | $ | 13,630 | $ | 16,803 | $ | - | $ | 11,594 | $ | - | |||||||||||||||||||
Income CRE | 4,209 | 11,366 | - | 6,369 | - | ||||||||||||||||||||||||
Residential CRE | - | - | - | 574 | - | ||||||||||||||||||||||||
Total | $ | 17,839 | $ | 28,169 | $ | - | $ | 18,537 | $ | - | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 12,600 | $ | 31,419 | $ | - | $ | 12,989 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 4,518 | 5,827 | - | 4,669 | 3 | ||||||||||||||||||||||||
Permanent mortgage (a) | 7,205 | 9,336 | - | 7,231 | - | ||||||||||||||||||||||||
Total | $ | 24,323 | $ | 46,582 | $ | - | $ | 24,889 | $ | 3 | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 26,252 | $ | 30,759 | $ | 1,709 | $ | 19,772 | $ | 253 | |||||||||||||||||||
TRUPS | 13,429 | 13,700 | 4,310 | 13,444 | - | ||||||||||||||||||||||||
Income CRE | 6,695 | 8,180 | 502 | 7,540 | 30 | ||||||||||||||||||||||||
Residential CRE | 1,624 | 1,991 | 109 | 1,497 | 7 | ||||||||||||||||||||||||
Total | $ | 48,000 | $ | 54,630 | $ | 6,630 | $ | 42,253 | $ | 290 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 85,102 | $ | 87,242 | $ | 20,513 | $ | 84,636 | $ | 448 | |||||||||||||||||||
R/E installment loans | 69,391 | 70,384 | 21,224 | 70,124 | 327 | ||||||||||||||||||||||||
Permanent mortgage | 103,633 | 116,482 | 17,766 | 104,917 | 591 | ||||||||||||||||||||||||
Credit card & other | 484 | 484 | 228 | 508 | 4 | ||||||||||||||||||||||||
Total | $ | 258,610 | $ | 274,592 | $ | 59,731 | $ | 260,185 | $ | 1,370 | |||||||||||||||||||
Total commercial | $ | 65,839 | $ | 82,799 | $ | 6,630 | $ | 60,790 | $ | 290 | |||||||||||||||||||
Total retail | $ | 282,933 | $ | 321,174 | $ | 59,731 | $ | 285,074 | $ | 1,373 | |||||||||||||||||||
Total impaired loans | $ | 348,772 | $ | 403,973 | $ | 66,361 | $ | 345,864 | $ | 1,663 | |||||||||||||||||||
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. | |||||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
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 | $ | 14,130 | $ | 15,648 | $ | - | $ | 20,378 | $ | - | |||||||||||||||||||
TRUPS | - | - | - | 3,250 | - | ||||||||||||||||||||||||
Income CRE | 8,500 | 16,529 | - | 8,512 | - | ||||||||||||||||||||||||
Total | $ | 22,630 | $ | 32,177 | $ | - | $ | 32,140 | $ | - | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 16,151 | $ | 37,723 | $ | - | $ | 16,488 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 10,400 | 13,360 | - | 10,705 | - | ||||||||||||||||||||||||
Permanent mortgage (a) | 7,854 | 11,078 | - | 8,157 | - | ||||||||||||||||||||||||
Total | $ | 34,405 | $ | 62,161 | $ | - | $ | 35,350 | $ | - | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 27,723 | $ | 33,911 | $ | 1,201 | $ | 22,232 | $ | 79 | |||||||||||||||||||
TRUPS | 13,550 | 13,550 | 3,986 | 23,580 | - | ||||||||||||||||||||||||
Income CRE | 11,821 | 13,540 | 783 | 12,097 | 102 | ||||||||||||||||||||||||
Residential CRE | 6,380 | 11,675 | 712 | 6,647 | 63 | ||||||||||||||||||||||||
Total | $ | 59,474 | $ | 72,676 | $ | 6,682 | $ | 64,556 | $ | 244 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 73,287 | $ | 74,730 | $ | 17,080 | $ | 71,792 | $ | 434 | |||||||||||||||||||
R/E installment loans | 73,738 | 74,645 | 26,573 | 73,015 | 269 | ||||||||||||||||||||||||
Permanent mortgage | 113,989 | 127,958 | 19,211 | 113,493 | 723 | ||||||||||||||||||||||||
Credit card & other | 772 | 772 | 236 | 658 | 11 | ||||||||||||||||||||||||
Total | $ | 261,786 | $ | 278,105 | $ | 63,100 | $ | 258,958 | $ | 1,437 | |||||||||||||||||||
Total commercial | $ | 82,104 | $ | 104,853 | $ | 6,682 | $ | 96,696 | $ | 244 | |||||||||||||||||||
Total retail | $ | 296,191 | $ | 340,266 | $ | 63,100 | $ | 294,308 | $ | 1,437 | |||||||||||||||||||
Total impaired loans | $ | 378,295 | $ | 445,119 | $ | 69,782 | $ | 391,004 | $ | 1,681 | |||||||||||||||||||
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 March 31, 2015 and 2014. | |||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
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 | $ | 446,725 | $ | - | $ | - | $ | 605 | $ | 59 | $ | 447,389 | 4 | % | $ | 75 | |||||||||||||
2 | 550,069 | - | - | 1,896 | 233 | 552,198 | 5 | 173 | |||||||||||||||||||||
3 | 528,347 | 276,653 | - | 63,112 | 261 | 868,373 | 8 | 228 | |||||||||||||||||||||
4 | 663,213 | 235,434 | - | 64,020 | 229 | 962,896 | 9 | 435 | |||||||||||||||||||||
5 | 1,050,800 | 384,418 | - | 253,658 | 1,840 | 1,690,716 | 15 | 2,743 | |||||||||||||||||||||
6 | 1,111,069 | 498,752 | - | 213,787 | 5,333 | 1,828,941 | 17 | 5,488 | |||||||||||||||||||||
7 | 1,278,125 | 192,154 | - | 231,551 | 14,316 | 1,716,146 | 16 | 9,169 | |||||||||||||||||||||
8 | 735,695 | 27,813 | - | 173,744 | 518 | 937,770 | 9 | 9,786 | |||||||||||||||||||||
9 | 474,912 | 26,448 | - | 131,893 | 922 | 634,175 | 6 | 8,642 | |||||||||||||||||||||
10 | 228,176 | - | - | 26,641 | 165 | 254,982 | 2 | 4,811 | |||||||||||||||||||||
11 | 209,639 | - | - | 27,255 | 946 | 237,840 | 2 | 5,783 | |||||||||||||||||||||
12 | 93,055 | - | - | 29,205 | 493 | 122,753 | 1 | 4,103 | |||||||||||||||||||||
13 | 114,775 | - | 325,382 | 4,530 | 1,076 | 445,763 | 4 | 4,989 | |||||||||||||||||||||
14,15,16 | 129,146 | - | - | 31,015 | 3,641 | 163,802 | 1 | 19,657 | |||||||||||||||||||||
Collectively evaluated for impairment | 7,613,746 | 1,641,672 | 325,382 | 1,252,912 | 30,032 | 10,863,744 | 99 | 76,082 | |||||||||||||||||||||
Individually evaluated for impairment | 39,882 | - | 12,815 | 10,904 | 1,624 | 65,225 | 1 | 6,630 | |||||||||||||||||||||
Purchased credit-impaired loans | 4,858 | - | - | 23,696 | 1,729 | 30,283 | - | 2,605 | |||||||||||||||||||||
Total commercial loans | $ | 7,658,486 | $ | 1,641,672 | $ | 338,197 | $ | 1,287,512 | $ | 33,385 | $ | 10,959,252 | 100 | % | $ | 85,317 | |||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
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 | $ | 233,362 | $ | - | $ | - | $ | - | $ | - | $ | 233,362 | 3 | % | $ | 90 | |||||||||||||
2 | 218,944 | - | - | 1,719 | - | 220,663 | 2 | 88 | |||||||||||||||||||||
3 | 225,715 | - | - | 4,639 | 82 | 230,436 | 3 | 199 | |||||||||||||||||||||
4 | 367,591 | - | - | 13,148 | 215 | 380,954 | 4 | 487 | |||||||||||||||||||||
5 | 778,522 | - | - | 96,447 | 5,835 | 880,804 | 10 | 2,348 | |||||||||||||||||||||
6 | 947,462 | 69,207 | - | 196,101 | 5,815 | 1,218,585 | 14 | 1,743 | |||||||||||||||||||||
7 | 1,081,770 | 159,207 | - | 249,317 | 6,413 | 1,496,707 | 16 | 2,698 | |||||||||||||||||||||
8 | 936,597 | 301,197 | - | 224,339 | 52 | 1,462,185 | 16 | 4,053 | |||||||||||||||||||||
9 | 662,311 | 115,936 | - | 90,336 | 1,379 | 869,962 | 10 | 7,392 | |||||||||||||||||||||
10 | 391,737 | 58,205 | - | 61,584 | 1,834 | 513,360 | 6 | 6,180 | |||||||||||||||||||||
11 | 392,249 | 5,659 | - | 30,402 | 1,816 | 430,126 | 5 | 9,704 | |||||||||||||||||||||
12 | 119,196 | - | - | 33,142 | 1,732 | 154,070 | 2 | 2,403 | |||||||||||||||||||||
13 | 152,035 | - | 326,158 | 12,262 | 2,180 | 492,635 | 6 | 7,968 | |||||||||||||||||||||
14,15,16 | 138,680 | 141 | 9,385 | 39,257 | 6,783 | 194,246 | 2 | 34,332 | |||||||||||||||||||||
Collectively evaluated for impairment | 6,646,171 | 709,552 | 335,543 | 1,052,693 | 34,136 | 8,778,095 | 99 | 79,685 | |||||||||||||||||||||
Individually evaluated for impairment | 41,853 | - | 13,115 | 20,321 | 6,380 | 81,669 | 1 | 6,682 | |||||||||||||||||||||
Total commercial loans(b) | $ | 6,688,024 | $ | 709,552 | $ | 348,658 | $ | 1,073,014 | $ | 40,516 | $ | 8,859,764 | 100 | % | $ | 86,367 | |||||||||||||
Balances as of March 31, 2015 and 2014, presented net of $26.2 million and $26.6 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". | |||||||||||||||||||||||||||||
March 31, 2014, excludes PCI loans amounting to $45.6 million ($1.9 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 credit 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 March 31, 2015 and 2014: | |||||||||||||||||||||||||||||
HELOC | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||||||||||||||
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 | $ | 51,626 | 707 | 700 | $ | 73,926 | 710 | 703 | |||||||||||||||||||||
2003 | 95,043 | 721 | 707 | 130,144 | 723 | 709 | |||||||||||||||||||||||
2004 | 258,974 | 723 | 707 | 375,252 | 726 | 715 | |||||||||||||||||||||||
2005 | 421,315 | 731 | 720 | 517,957 | 732 | 721 | |||||||||||||||||||||||
2006 | 321,702 | 739 | 726 | 375,022 | 740 | 727 | |||||||||||||||||||||||
2007 | 342,531 | 744 | 728 | 396,409 | 743 | 728 | |||||||||||||||||||||||
2008 | 188,111 | 753 | 748 | 217,360 | 753 | 748 | |||||||||||||||||||||||
2009 | 97,279 | 751 | 742 | 113,703 | 751 | 746 | |||||||||||||||||||||||
2010 | 92,777 | 753 | 749 | 110,958 | 753 | 748 | |||||||||||||||||||||||
2011 | 92,484 | 758 | 753 | 110,815 | 758 | 754 | |||||||||||||||||||||||
2012 | 112,955 | 760 | 758 | 133,618 | 759 | 759 | |||||||||||||||||||||||
2013 | 142,772 | 757 | 756 | 169,429 | 760 | 757 | |||||||||||||||||||||||
2014 | 121,991 | 762 | 763 | 23,224 | 756 | 755 | |||||||||||||||||||||||
2015 | 25,250 | 759 | 756 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,364,810 | 742 | 732 | $ | 2,747,817 | 741 | 731 | |||||||||||||||||||||
R/E Installment Loans | 31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||
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 | $ | 11,786 | 679 | 687 | $ | 21,069 | 681 | 687 | |||||||||||||||||||||
2003 | 44,729 | 713 | 721 | 68,747 | 715 | 724 | |||||||||||||||||||||||
2004 | 37,944 | 699 | 695 | 51,187 | 701 | 699 | |||||||||||||||||||||||
2005 | 115,702 | 715 | 710 | 150,669 | 716 | 711 | |||||||||||||||||||||||
2006 | 126,225 | 712 | 702 | 165,515 | 715 | 700 | |||||||||||||||||||||||
2007 | 187,510 | 722 | 707 | 236,727 | 724 | 708 | |||||||||||||||||||||||
2008 | 60,538 | 718 | 712 | 80,067 | 722 | 718 | |||||||||||||||||||||||
2009 | 26,812 | 737 | 727 | 37,048 | 742 | 733 | |||||||||||||||||||||||
2010 | 95,017 | 747 | 756 | 120,128 | 748 | 754 | |||||||||||||||||||||||
2011 | 267,079 | 760 | 759 | 323,992 | 760 | 759 | |||||||||||||||||||||||
2012 | 586,729 | 764 | 765 | 675,368 | 764 | 765 | |||||||||||||||||||||||
2013 | 460,196 | 756 | 758 | 509,103 | 757 | 753 | |||||||||||||||||||||||
2014 | 450,765 | 756 | 754 | 70,577 | 756 | 750 | |||||||||||||||||||||||
2015 | 86,975 | 757 | 758 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,558,007 | 749 | 747 | $ | 2,510,197 | 746 | 743 | |||||||||||||||||||||
Permanent Mortgage | 31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||
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 | $ | 136,848 | 723 | 718 | $ | 178,765 | 725 | 728 | |||||||||||||||||||||
2004 | 16,484 | 712 | 715 | 21,398 | 712 | 691 | |||||||||||||||||||||||
2005 | 32,563 | 736 | 732 | 38,586 | 737 | 715 | |||||||||||||||||||||||
2006 | 59,636 | 732 | 726 | 72,413 | 728 | 706 | |||||||||||||||||||||||
2007 | 183,359 | 733 | 719 | 213,580 | 733 | 711 | |||||||||||||||||||||||
2008 | 82,818 | 741 | 712 | 97,500 | 741 | 712 | |||||||||||||||||||||||
Total | $ | 511,708 | 730 | 717 | $ | 622,242 | 730 | 712 | |||||||||||||||||||||
Nonaccrual and Past Due Loans | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on March 31, 2015: | |||||||||||||||||||||||||||||
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 | $ | 7,627,209 | $ | 5,291 | $ | 251 | $ | $7,632,751 | $ | 1,441 | $ | 10,445 | $ | 8,991 | $ | $20,877 | $ | $7,653,628 | |||||||||||
Loans to mortgage companies | 1,640,638 | 915 | - | 1,641,553 | - | - | 119 | 119 | 1,641,672 | ||||||||||||||||||||
TRUPS (a) | 325,382 | - | - | 325,382 | - | - | 12,815 | 12,815 | 338,197 | ||||||||||||||||||||
Purchased credit-impaired loans | 4,192 | - | 666 | 4,858 | - | - | - | - | 4,858 | ||||||||||||||||||||
Total commercial (C&I) | 9,597,421 | 6,206 | 917 | 9,604,544 | 1,441 | 10,445 | 21,925 | 33,811 | 9,638,355 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,249,793 | 687 | - | 1,250,480 | 1,454 | 2,817 | 9,065 | 13,336 | 1,263,816 | ||||||||||||||||||||
Residential CRE | 31,591 | 65 | - | 31,656 | - | - | - | - | 31,656 | ||||||||||||||||||||
Purchased credit-impaired loans | 21,817 | - | 3,608 | 25,425 | - | - | - | - | 25,425 | ||||||||||||||||||||
Total commercial real estate | 1,303,201 | 752 | 3,608 | 1,307,561 | 1,454 | 2,817 | 9,065 | 13,336 | 1,320,897 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,250,415 | 20,698 | 10,362 | 2,281,475 | 66,743 | 5,075 | 11,517 | 83,335 | 2,364,810 | ||||||||||||||||||||
R/E installment loans | 2,502,363 | 11,975 | 5,204 | 2,519,542 | 27,748 | 2,576 | 5,741 | 36,065 | 2,555,607 | ||||||||||||||||||||
Purchased credit-impaired loans | 2,308 | 4 | 88 | 2,400 | - | - | - | - | 2,400 | ||||||||||||||||||||
Total consumer real estate | 4,755,086 | 32,677 | 15,654 | 4,803,417 | 94,491 | 7,651 | 17,258 | 119,400 | 4,922,817 | ||||||||||||||||||||
Permanent mortgage | 464,677 | 8,019 | 6,085 | 478,781 | 16,710 | 2,752 | 13,465 | 32,927 | 511,708 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 177,042 | 1,467 | 1,440 | 179,949 | - | - | - | - | 179,949 | ||||||||||||||||||||
Other | 156,478 | 916 | 239 | 157,633 | - | - | 755 | 755 | 158,388 | ||||||||||||||||||||
Purchased credit-impaired loans | 9 | - | - | 9 | - | - | - | - | 9 | ||||||||||||||||||||
Total credit card & other | 333,529 | 2,383 | 1,679 | 337,591 | - | - | 755 | 755 | 338,346 | ||||||||||||||||||||
Total loans, net of unearned | $ | 16,453,914 | $ | 50,037 | $ | $27,943 | $ | $16,531,894 | $114,096 | $ | 23,665 | $ | $62,468 | $ | $200,229 | $ | $16,732,123 | ||||||||||||
Total TRUPS includes LOCOM valuation allowance of $26.2 million. | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on March 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 | $ | 6,629,412 | $ | 19,049 | $ | 452 | $ | 6,648,913 | $ | 16,332 | $ | 3,341 | $ | 19,438 | $ | 39,111 | $ | 6,688,024 | |||||||||||
Loans to mortgage companies | 709,339 | 72 | - | 709,411 | - | - | 141 | 141 | 709,552 | ||||||||||||||||||||
TRUPS (a) | 335,543 | - | - | 335,543 | - | - | 13,115 | 13,115 | 348,658 | ||||||||||||||||||||
Purchased credit-impaired loans | 5,291 | - | 1,470 | 6,761 | - | - | - | - | 6,761 | ||||||||||||||||||||
Total commercial (C&I) | 7,679,585 | 19,121 | 1,922 | 7,700,628 | 16,332 | 3,341 | 32,694 | 52,367 | 7,752,995 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,049,843 | 10,955 | - | 1,060,798 | 1,814 | 330 | 10,072 | 12,216 | 1,073,014 | ||||||||||||||||||||
Residential CRE | 37,516 | 282 | - | 37,798 | - | - | 2,718 | 2,718 | 40,516 | ||||||||||||||||||||
Purchased credit-impaired loans | 31,515 | 5,830 | 1,543 | 38,888 | - | - | - | - | 38,888 | ||||||||||||||||||||
Total commercial real estate | 1,118,874 | 17,067 | 1,543 | 1,137,484 | 1,814 | 330 | 12,790 | 14,934 | 1,152,418 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,624,763 | 23,734 | 12,459 | 2,660,956 | 67,361 | 5,395 | 14,105 | 86,861 | 2,747,817 | ||||||||||||||||||||
R/E installment loans | 2,447,448 | 10,812 | 6,074 | 2,464,334 | 35,069 | 3,486 | 6,605 | 45,160 | 2,509,494 | ||||||||||||||||||||
Purchased credit-impaired loans | 703 | - | - | 703 | - | - | - | - | 703 | ||||||||||||||||||||
Total consumer real estate | 5,072,914 | 34,546 | 18,533 | 5,125,993 | 102,430 | 8,881 | 20,710 | 132,021 | 5,258,014 | ||||||||||||||||||||
Permanent mortgage | 573,095 | 6,101 | 2,845 | 582,041 | 15,924 | 2,048 | 22,229 | 40,201 | 622,242 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 180,011 | 1,810 | 1,622 | 183,443 | - | - | - | - | 183,443 | ||||||||||||||||||||
Other | 148,062 | 761 | 130 | 148,953 | 1,396 | - | - | 1,396 | 150,349 | ||||||||||||||||||||
Total credit card & other | 328,073 | 2,571 | 1,752 | 332,396 | 1,396 | - | - | 1,396 | 333,792 | ||||||||||||||||||||
Total loans, net of unearned | $ | 14,772,541 | $ | 79,406 | $ | 26,595 | $ | 14,878,542 | $ | 137,896 | $ | 14,600 | $ | 88,423 | $ | 240,919 | $ | 15,119,461 | |||||||||||
Total TRUPS includes LOCOM valuation allowance of $26.6 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. As a result, FHN classifies all non-reaffirmed residential real estate loans discharged in Chapter 7 bankruptcy as nonaccruing TDRs. | |||||||||||||||||||||||||||||
On March 31, 2015 and 2014, FHN had $317.8 million and $353.4 million portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $62.1 million and $65.8 million, or 20 percent as of March 31, 2015, and 19 percent as of March 31, 2014. Additionally, $78.0 million and $137.0 million of loans held-for-sale as of March 31, 2015 and 2014, respectively were classified as TDRs. | |||||||||||||||||||||||||||||
The following table reflects portfolio loans that were classified as TDRs during the three months ended March 31, 2015 and 2014: | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
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 | 2 | $ | 1,388 | $ | 1,325 | - | $ | - | $ | - | |||||||||||||||||||
Total commercial (C&I) | 2 | 1,388 | 1,325 | - | - | - | |||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 37 | 3,727 | 3,707 | 67 | 5,790 | 5,768 | |||||||||||||||||||||||
R/E installment loans | 16 | 1,354 | 1,377 | 72 | 5,143 | 5,102 | |||||||||||||||||||||||
Total consumer real estate | 53 | 5,081 | 5,084 | 139 | 10,933 | 10,870 | |||||||||||||||||||||||
Permanent mortgage | 2 | 321 | 321 | 12 | 4,593 | 4,087 | |||||||||||||||||||||||
Credit card & other | 6 | 28 | 27 | 20 | 87 | 85 | |||||||||||||||||||||||
Total troubled debt restructurings | 63 | $ | 6,818 | $ | 6,757 | 171 | $ | 15,613 | $ | 15,042 | |||||||||||||||||||
The following table presents TDRs which re-defaulted during the three months ended March 31, 2015 and 2014, 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 days past due. | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
(Dollars in thousands) | Number | Investment | Number | Investment | |||||||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | - | $ | - | 4 | $ | 512 | |||||||||||||||||||||||
Total commercial (C&I) | - | - | 4 | 512 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | - | - | 2 | 389 | |||||||||||||||||||||||||
Total commercial real estate | - | - | 2 | 389 | |||||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 1 | 30 | 4 | 307 | |||||||||||||||||||||||||
R/E installment loans | 1 | 86 | 3 | 118 | |||||||||||||||||||||||||
Total consumer real estate | 2 | 116 | 7 | 425 | |||||||||||||||||||||||||
Credit card & other | 1 | 3 | 2 | 4 | |||||||||||||||||||||||||
Total troubled debt restructurings | 3 | $ | 119 | 15 | $ | 1,330 | |||||||||||||||||||||||
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 | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
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. See Note 1 – Summary of Significant Accounting Policies and Note – 5 Allowance for Loan Losses in the Notes to Consolidated Financial Statements on Form 10-K for the year ended December 31, 2014, for additional information about the policies and methodologies used in the aforementioned components of the ALLL. | ||||||||||||||||||||
The following table provides a rollforward of the allowance for loan losses by portfolio segment for the three months ended March 31, 2015 and 2014: | ||||||||||||||||||||
Commercial | Consumer | Permanent | Credit Card | |||||||||||||||||
(Dollars in thousands) | C&I | Real Estate | Real Estate | Mortgage | and Other | Total | ||||||||||||||
Balance as of January 1, 2014 | $ | 86,446 | $ | 10,603 | $ | 126,785 | $ | 22,491 | $ | 7,484 | $ | 253,809 | ||||||||
Charge-offs | -5,807 | -627 | -12,264 | -2,218 | -3,776 | -24,692 | ||||||||||||||
Recoveries | 1,602 | 279 | 4,974 | 578 | 696 | 8,129 | ||||||||||||||
Provision | -9,509 | 5,268 | 3,914 | 1,670 | 8,657 | 10,000 | ||||||||||||||
Balance as of March 31, 2014 | 72,732 | 15,523 | 123,409 | 22,521 | 13,061 | 247,246 | ||||||||||||||
Allowance - individually evaluated for impairment | 5,187 | 1,495 | 43,653 | 19,211 | 236 | 69,782 | ||||||||||||||
Allowance - collectively evaluated for impairment | 67,477 | 12,207 | 79,746 | 3,310 | 12,825 | 175,565 | ||||||||||||||
Allowance - purchased credit impaired loans | 68 | 1,821 | 10 | - | - | 1,899 | ||||||||||||||
Loans, net of unearned as of March 31, 2014: | ||||||||||||||||||||
Individually evaluated for impairment | 54,968 | 26,701 | 173,577 | 121,843 | 772 | 377,861 | ||||||||||||||
Collectively evaluated for impairment | 7,691,266 | 1,086,829 | 5,083,734 | 500,399 | 333,020 | 14,695,248 | ||||||||||||||
Purchased credit impaired loans | 6,761 | 38,888 | 703 | - | - | 46,352 | ||||||||||||||
Total loans, net of unearned | $ | 7,752,995 | $ | 1,152,418 | $ | 5,258,014 | $ | 622,242 | $ | 333,792 | $ | 15,119,461 | ||||||||
Balance as of January 1, 2015 | $ | 67,011 | $ | 18,574 | $ | 113,011 | $ | 19,122 | $ | 14,730 | $ | 232,448 | ||||||||
Charge-offs | -3,555 | -787 | -8,537 | -1,184 | -3,936 | -17,999 | ||||||||||||||
Recoveries | 1,953 | 691 | 4,724 | 618 | 893 | 8,879 | ||||||||||||||
Provision | 2,243 | -813 | 47 | 1,630 | 1,893 | 5,000 | ||||||||||||||
Balance as of March 31, 2015 | 67,652 | 17,665 | 109,245 | 20,186 | 13,580 | 228,328 | ||||||||||||||
Allowance - individually evaluated for impairment | 6,019 | 611 | 41,737 | 17,766 | 228 | 66,361 | ||||||||||||||
Allowance - collectively evaluated for impairment | 61,440 | 14,642 | 67,018 | 2,420 | 13,352 | 158,872 | ||||||||||||||
Allowance - purchased credit impaired loans | 193 | 2,412 | 490 | - | - | 3,095 | ||||||||||||||
Loans, net of unearned as of March 31, 2015: | ||||||||||||||||||||
Individually evaluated for impairment | 52,697 | 12,528 | 171,611 | 110,838 | 484 | 348,158 | ||||||||||||||
Collectively evaluated for impairment | 9,580,800 | 1,282,944 | 4,748,806 | 400,870 | 337,853 | 16,351,273 | ||||||||||||||
Purchased credit impaired loans | 4,858 | 25,425 | 2,400 | - | 9 | 32,692 | ||||||||||||||
Total loans, net of unearned | $ | 9,638,355 | $ | 1,320,897 | $ | 4,922,817 | $ | 511,708 | $ | 338,346 | $ | 16,732,123 | ||||||||
Intangible_Assets
Intangible Assets | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||
Intangible Assets | Note 6 – Intangible Assets | ||||||||||||||||||
The following is a summary of intangible assets, net of accumulated amortization, included in the Consolidated Condensed Statements of Condition: | |||||||||||||||||||
Other | |||||||||||||||||||
Intangible | |||||||||||||||||||
(Dollars in thousands) | Goodwill | Assets (a) | |||||||||||||||||
December 31, 2013 | $ | 141,943 | $ | 21,988 | |||||||||||||||
Amortization expense | - | -981 | |||||||||||||||||
31-Mar-14 | $ | 141,943 | $ | 21,007 | |||||||||||||||
December 31, 2014 | $ | 145,932 | $ | 29,518 | |||||||||||||||
Amortization expense | - | -1,298 | |||||||||||||||||
March 31, 2015 | $ | 145,932 | $ | 28,220 | |||||||||||||||
(a) Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. | |||||||||||||||||||
The gross carrying amount of other intangible assets subject to amortization is $70.3 million on March 31, 2015, net of $42.1 million of accumulated amortization. Estimated aggregate amortization expense is expected to be $3.9 million for the remainder of 2015, and $5.0 million, $4.7 million, $4.5 million, $4.2 million, and $1.5 million for the twelve-month periods of 2016, 2017, 2018, 2019, and 2020, respectively. No goodwill is carried in the Corporate segment. | |||||||||||||||||||
The following is a summary of gross goodwill and accumulated impairment losses and write-offs detailed by reportable segments included in the Consolidated Condensed Statements of Condition through March 31, 2015. 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 | $ | 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 | - | - | - | - | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2014 | - | - | - | - | |||||||||||||||
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-Mar-14 | $ | - | $ | 43,939 | $ | 98,004 | $ | 141,943 | |||||||||||
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 | |||||||||||
Additions | - | - | - | - | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2015 | - | - | - | - | |||||||||||||||
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-Mar-15 | $ | - | $ | 47,928 | $ | 98,004 | $ | 145,932 | |||||||||||
Other_Income_And_Other_Expense
Other Income And Other Expense | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Other Income And Other Expense [Abstract] | ||||||||
Other Income And Other Expense | Note 7 – Other Income and Other Expense | |||||||
Following is detail of All other income and commissions and All other expense as presented in the Consolidated Condensed Statements of Income: | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(Dollars in thousands) | 2015 | 2014 | ||||||
All other income and commissions: | ||||||||
ATM interchange fees | $ | 2,761 | $ | 2,497 | ||||
Electronic banking fees | 1,428 | 1,534 | ||||||
Letter of credit fees | 1,123 | 1,663 | ||||||
Deferred compensation (a) | 1,033 | 657 | ||||||
Gain/(loss) on extinguishment of debt | - | -4,350 | ||||||
Other | 3,125 | 2,893 | ||||||
Total | $ | 9,470 | $ | 4,894 | ||||
All other expense: | ||||||||
Litigation and regulatory matters | $ | 162,500 | $ | 90 | ||||
Other insurance and taxes | 3,329 | 3,060 | ||||||
Travel and entertainment | 1,614 | 1,824 | ||||||
Customer relations | 1,314 | 1,243 | ||||||
Employee training and dues | 1,132 | 866 | ||||||
Supplies | 927 | 1,116 | ||||||
Tax credit investments | 395 | 325 | ||||||
Miscellaneous loan costs | 361 | 714 | ||||||
Other | 8,423 | 9,245 | ||||||
Total | $ | 179,995 | $ | 18,483 | ||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | ||||||||
(a) Deferred compensation market value adjustments are mirrored by adjustments to employee compensation, incentives, and benefits expense. |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income Balances | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Disclosure Text Block [Abstract] | ||||||||||||||
Changes In Accumulated Other Comprehensive Income Balances | Note 8 – Changes in Accumulated Other Comprehensive Income Balances | |||||||||||||
The following table provides the changes in accumulated other comprehensive income by component, net of tax, for the three months ended March 31, 2015 and 2014: | ||||||||||||||
(Dollars in thousands, unless otherwise noted) | Unrealized Gain/(Loss) On Securities Available-For-Sale | Pension and Post Retirement Plans | Total | |||||||||||
Balance as of December 31, 2014 | $ | 18,581 | $ | -206,827 | $ | -188,246 | ||||||||
Other comprehensive income before reclassifications, Net of tax expense of $11.3 million for unrealized gain/(loss) on securities available-for-sale | 18,004 | - | 18,004 | |||||||||||
Amounts reclassified from accumulated other comprehensive income, Net of tax expense of $.7 million for pension and post retirement plans | - | 1,083 | 1,083 | |||||||||||
Net current period other comprehensive income, Net of tax expense of $11.3 million and $.7 million for unrealized gain/(loss) on securities available-for-sale and pension and post retirement plans, respectively | 18,004 | 1,083 | 19,087 | |||||||||||
Balance as of March 31, 2015 | $ | 36,585 | $ | -205,744 | $ | -169,159 | ||||||||
Balance as of December 31, 2013 | $ | -11,241 | $ | -138,768 | $ | -150,009 | ||||||||
Other comprehensive income before reclassifications, Net of tax expense of $5.9 million for unrealized gain/(loss) on securities available-for-sale | 9,479 | - | 9,479 | |||||||||||
Amounts reclassified from accumulated other comprehensive income, Net of tax expense of $.3 million for pension and post retirement plans | - | 411 | 411 | |||||||||||
Net current period other comprehensive income, Net of tax expense of $5.9 million and $.3 million for unrealized gain/(loss) on securities available-for-sale and pension and post retirement plans, respectively | 9,479 | 411 | 9,890 | |||||||||||
Balance as of March 31, 2014 | $ | -1,762 | $ | -138,357 | $ | -140,119 |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Earnings Per Share [Abstract] | |||||||
Earnings Per Share | Note 9 – Earnings Per Share | ||||||
The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding: | |||||||
Three Months Ended | |||||||
31-Mar | |||||||
(Dollars and shares in thousands, except per share data) | 2015 | 2014 | |||||
Net income/(loss) | $ | -72,405 | $ | 49,979 | |||
Net income attributable to noncontrolling interest | 2,758 | 2,813 | |||||
Net income/(loss) attributable to controlling interest | -75,163 | 47,166 | |||||
Preferred stock dividends | 1,550 | 1,550 | |||||
Net income/(loss) available to common shareholders | $ | -76,713 | $ | 45,616 | |||
Weighted average common shares outstanding - basic | 232,816 | 235,183 | |||||
Effect of dilutive securities | - | 2,218 | |||||
Weighted average common shares outstanding - diluted | 232,816 | 237,401 | |||||
Net income/(loss) per share available to common shareholders | $ | -0.33 | $ | 0.19 | |||
Diluted income/(loss) per share available to common shareholders | $ | -0.33 | $ | 0.19 | |||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | |||||||
For the three months ended March 31, 2015, all potential common shares were antidilutive due to the net loss attributable to common shareholders. For the three months ended March 31, 2014, the dilutive effect for all potential common shares was 2.2 million. Stock options of 7.9 million and 4.7 million with weighted average exercise prices of $17.17 and $26.09 per share for the three months ended March 31, 2015 and 2014, respectively, were excluded from diluted shares because including such shares would be antidilutive. Other equity awards of 2.5 million for the three months ended March 31, 2015, were excluded from diluted shares because including such shares would have been antidilutive. |
Contingencies_And_Other_Disclo
Contingencies And Other Disclosures | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
[CommitmentsAndContingenciesDisclosureAbstract] | ||||||||
Contingencies And Other Disclosures | Note 10 – 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. | ||||||||
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 March 31, 2015, the aggregate amount of liabilities established for all material loss contingency matters was $218.7 million, which includes $212.5 million for the agreement in principle with DOJ and HUD discussed below. 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 March 31, 2015, 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 $100 million. | ||||||||
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 estimated reasonable possible loss (“RPL”) 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 RPL 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 RPL. Those estimable matters are the Charles Schwab, FDIC (NY), and FDIC (AL) cases. The estimates for those matters are included in the RPL range discussed above. The RPL 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 RPL 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, Integra REC and Tennessee Consolidated Retirement System indemnity cases. FHN is unable to estimate an RPL range 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. | ||||||||
Agreement in Principle to Settle Potential FHA-Insured Loan Claims. Since second quarter 2012 FHN cooperated 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"). The investigation could have led 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. In April 2015 FHN reached an agreement in principle with DOJ and HUD to settle potential claims related to FHN’s underwriting and origination of FHA-insured mortgage loans from January 1, 2006, through December 31, 2008, which have gone to claim not later than April 2, 2015. FHN’s liability associated with legal matters at March 31, 2015 considered the effects of the agreement in principle. Final legal resolution remains subject to negotiation and execution of a formal written settlement agreement satisfactory to all parties. FHN’s 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 FHN’s FHA-insured originations each year declined substantially following the divestiture. | ||||||||
Litigation – Gain Contingencies | ||||||||
As mentioned above, in April 2015 FHN reached an agreement in principle with DOJ and HUD to settle potential claims related to FHN’s underwriting and origination of FHA-insured mortgage loans. Under that agreement FHN agreed to pay $212.5 million. FHN believes that certain insurance policies, having an aggregate policy limit of $75 million, provide coverage for FHN’s losses and related costs. The insurers have not agreed to fund any settlement with the DOJ, and have denied and/or reserved rights to deny coverage. FHN has brought suit against the insurers to enforce the policies under Tennessee law. In connection with this litigation the previously recognized expenses associated with the settled matter may be recouped in part. Under applicable financial accounting guidance FHN has determined that although material gain from this litigation is not probable there is more than a slight chance of a material gain outcome for FHN. FHN cannot determine a probable outcome that may result from this matter because of the uncertainty of the potential outcomes of the legal proceedings and also due to significant uncertainties regarding: legal interpretation of the relevant contracts; potential remedies that might be available or awarded; and the lack of discovery. | ||||||||
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 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 indemnity-only 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); (7) Commonwealth of Virginia ex rel. Integra REC LLC, in the Circuit Court for the City of Richmond (No. CL14-399); and (8) Tennessee Consolidated Retirement System, in the Chancery Court for Davidson County, Tennessee (No. 13-1729-II). | ||||||||
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 $195.7 million of certificates and the purchase prices of the certificates subject to the indemnification requests total $613.9 million. | ||||||||
(Dollars in thousands) | Alt-A | Jumbo | ||||||
Vintage | ||||||||
Original Purchase Price: | ||||||||
2005 | $ | 202,417 | $ | - | ||||
2006 | 325,613 | 32,540 | ||||||
2007 | 199,012 | 50,000 | ||||||
Total | $ | 727,042 | $ | 82,540 | ||||
Ending Balance per the March 25, 2015, trust statements: | ||||||||
2005 | $ | 49,500 | $ | - | ||||
2006 | 85,171 | 7,769 | ||||||
2007 | 82,401 | 14,276 | ||||||
Total | $ | 217,072 | $ | 22,045 | ||||
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 $239.1 million as reported on the March 25, 2015, 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 March 31, 2015, 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. | ||||||||
FHN also sold certain Agency mortgage loans with full recourse under agreements to repurchase the loans upon default, and originated or underwrote mortgage loans under the FHA insurance program mentioned above or the Veteran’s Administration (“VA”) guaranty program. After the 2008 sale these lending activities continued but were substantially curtailed. | ||||||||
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 March 31, 2015, 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 March 31, 2015 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 March 31, 2015, 48 percent of repurchase/make-whole claims in the repurchase 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 March 31, 2015, the aggregate remaining UPB in active FH proprietary securitizations from 2005 through 2007 was $5.9 billion consisting of $4.1 billion Alt-A mortgage loans and $1.8 billion Jumbo mortgage loans. No FH proprietary securitizations were created after 2007. | ||||||||
Representations and warranties were made to the securitization trustee, as the nominal purchaser of the loans, for the benefit of investors. As such, FHN could have exposure to the trustee for repurchase of loans arising from claims that FHN breached its representations and warranties made at closing. | ||||||||
Unlike loans sold to GSEs, contractual representations and warranties for FH proprietary first lien securitizations did not include specific representations regarding the absence of other-party fraud or negligence in the underwriting or origination of the mortgage loans, and there are a number of other substantive and procedural differences compared with the GSE contracts. As of March 31, 2015, the repurchase request pipeline contained no repurchase request related to FH proprietary first lien securitizations based on breaches of representations and warranties to the trustee. | ||||||||
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 were discovered, the trustee might 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 March 31, 2015, 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 might be brought as traditional fraud or negligence claims with a wider scope of damages possible. Each investor might bring such a claim individually, without acting through the trustee to pursue a claim for breach of representations and warranties, and investors might 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 as discussed above. | ||||||||
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 (discussed above), 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." | ||||||||
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 | ||||||||
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 $117.1 million and $145.7 million as of March 31, 2015 and 2014, 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 Condensed Statements of Condition. Charges to increase the liability are included within Repurchase and foreclosure provision on the Consolidated Condensed 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 March 31, 2015 had an unpaid principal balance of $241.7 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 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 March 31, 2015, the conversion ratio is 165 percent reflecting the Visa stock split in March 2015, 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 March 31, 2015 and 2014, the derivative liabilities were $5.0 million and $4.9 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 Condensed 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 | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Pension, Savings, And Other Employee Benefits [Abstract] | ||||||||||||||||
Pension, Savings, And Other Employee Benefits | Note 11 – 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, with company match contributions invested according to a participant’s current investment elections. Through a non-qualified savings restoration plan, FHN provides a restorative benefit to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. | ||||||||||||||||
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 with FHN contributing a fixed amount for certain participants. FHN’s postretirement benefits include certain prescription drug benefits. | ||||||||||||||||
The components of net periodic benefit cost for the three months ended March 31 are as follows: | ||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||
(Dollars in thousands) | 2015 | 2014 | 2015 | 2014 | ||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | 10 | $ | 17 | $ | 37 | $ | 55 | ||||||||
Interest cost | 9,020 | 8,660 | 360 | 458 | ||||||||||||
Expected return on plan assets | -9,392 | -10,018 | -241 | -255 | ||||||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost/(credit) | 83 | 87 | -291 | -291 | ||||||||||||
Actuarial (gain)/loss | 2,396 | 1,635 | -244 | -126 | ||||||||||||
Net periodic benefit cost | $ | 2,117 | $ | 381 | $ | -379 | $ | -159 |
Business_Segment_Information
Business Segment Information | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Business Segment Information [Abstract] | |||||||
Business Segment Information | Note 12 – 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 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 three months ended March 31: | |||||||
Three Months Ended | |||||||
31-Mar | |||||||
(Dollars in thousands) | 2015 | 2014 | |||||
Consolidated | |||||||
Net interest income | $ | 156,866 | $ | 152,359 | |||
Provision for loan losses | 5,000 | 10,000 | |||||
Noninterest income | 129,689 | 145,730 | |||||
Noninterest expense | 376,221 | 218,044 | |||||
Income/(loss) before income taxes | -94,666 | 70,045 | |||||
Provision/(benefit) for income taxes | -22,261 | 20,066 | |||||
Net income/(loss) | $ | -72,405 | $ | 49,979 | |||
Average assets | $ | 25,644,604 | $ | 23,910,853 | |||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | |||||||
Three Months Ended | |||||||
31-Mar | |||||||
(Dollars in thousands) | 2015 | 2014 | |||||
Regional Banking | |||||||
Net interest income | $ | 154,409 | $ | 142,026 | |||
Provision/(provision credit) for loan losses | 4,915 | 12,990 | |||||
Noninterest income | 60,204 | 59,992 | |||||
Noninterest expense | 135,780 | 132,543 | |||||
Income/(loss) before income taxes | 73,918 | 56,485 | |||||
Provision/(benefit) for income taxes | 26,381 | 20,083 | |||||
Net income/(loss) | $ | 47,537 | $ | 36,402 | |||
Average assets | $ | 14,228,116 | $ | 12,615,394 | |||
Capital Markets | |||||||
Net interest income | $ | 4,323 | $ | 3,476 | |||
Noninterest income | 61,565 | 56,759 | |||||
Noninterest expense | 54,683 | 52,598 | |||||
Income/(loss) before income taxes | 11,205 | 7,637 | |||||
Provision/(benefit) for income taxes | 4,167 | 2,843 | |||||
Net income/(loss) | $ | 7,038 | $ | 4,794 | |||
Average assets | $ | 2,446,267 | $ | 2,038,368 | |||
Corporate | |||||||
Net interest income/(expense) | $ | -16,084 | $ | -9,923 | |||
Noninterest income | 5,385 | 13,215 | |||||
Noninterest expense | 14,169 | 17,327 | |||||
Income/(loss) before income taxes | -24,868 | -14,035 | |||||
Provision/(benefit) for income taxes | -11,640 | -10,628 | |||||
Net income/(loss) | $ | -13,228 | $ | -3,407 | |||
Average assets | $ | 6,414,745 | $ | 5,852,792 | |||
Non-Strategic | |||||||
Net interest income | $ | 14,218 | $ | 16,780 | |||
Provision/(provision credit) for loan losses | 85 | -2,990 | |||||
Noninterest income | 2,535 | 15,764 | |||||
Noninterest expense | 171,589 | 15,576 | |||||
Income/(loss) before income taxes | -154,921 | 19,958 | |||||
Provision/(benefit) for income taxes | -41,169 | 7,768 | |||||
Net income/(loss) | $ | -113,752 | $ | 12,190 | |||
Average assets | $ | 2,555,476 | $ | 3,404,299 | |||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. |
Variable_Interest_Entities
Variable Interest Entities | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||||
Variable Interest Entities | Note 13 – 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 a proprietary residential mortgage securitization trust it established prior to 2008 as a source of liquidity for consumer lending operations. Based on its restrictive nature, the trust is considered a VIE 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, results in FHN potentially absorbing losses or receiving benefits that are significant to the trust, FHN is considered the primary beneficiary, as it is also assumed to have the power as servicer to most significantly impact the activities of the VIE. Consolidation of the trust results in the recognition of the trust 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 trust securities. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trust, the creditors of the trust hold no recourse to the assets of FHN. | ||||||||||||||||||||
The only trust included in the March 31, 2015 and March 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 Condensed 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 March 31, 2015 and 2014: | ||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||
On-Balance Sheet Consumer Loan Securitization | Rabbi Trusts Used for Deferred Compensation Plans | On-Balance Sheet Consumer Loan Securitization | Rabbi Trusts Used for Deferred Compensation Plans | |||||||||||||||||
(Dollars in thousands) | Carrying Value | Carrying Value | Carrying Value | Carrying Value | ||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 872 | N/A | $ | - | N/A | ||||||||||||||
Loans, net of unearned income | 71,565 | N/A | 86,685 | N/A | ||||||||||||||||
Less: Allowance for loan losses | 341 | N/A | 1,954 | N/A | ||||||||||||||||
Total net loans | 71,224 | N/A | 84,731 | N/A | ||||||||||||||||
Other assets | 242 | $ | 68,356 | 888 | $ | 64,217 | ||||||||||||||
Total assets | $ | 72,338 | $ | 68,356 | $ | 85,619 | $ | 64,217 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Term borrowings | $ | 60,914 | N/A | $ | 77,119 | N/A | ||||||||||||||
Other liabilities | 4 | $ | 52,349 | 5 | $ | 50,423 | ||||||||||||||
Total liabilities | $ | 60,918 | $ | 52,349 | $ | 77,124 | $ | 50,423 | ||||||||||||
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 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. | ||||||||||||||||||||
Expenses for non-qualifying LIHTC investments were not material during first quarter 2015 and 2014. The following table summarizes the impact of these qualifying LIHTC investments on the Provision/(benefit) for income taxes on the Consolidated Condensed Statements of Income for the periods ended March 31, 2015 and 2014. | ||||||||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||||||
(Dollars in thousands) | 31-Mar-15 | 31-Mar-14 | ||||||||||||||||||
Provision/(benefit) for income taxes: | ||||||||||||||||||||
Amortization of qualifying LIHTC investments | $ | 2,180 | $ | 2,470 | ||||||||||||||||
Low income housing tax credits | -2,363 | -2,462 | ||||||||||||||||||
Other tax benefits related to qualifying LIHTC investments | -844 | -1,855 | ||||||||||||||||||
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 Condensed 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. | ||||||||||||||||||||
Agency Residential Mortgage Securitizations. 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. | ||||||||||||||||||||
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 March 31, 2015: | ||||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships | $ | 58,971 | $ | 3,609 | (a) | |||||||||||||||
New market tax credit LLCs (b) (c) | 21,360 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 364,352 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 50,748 | 63,425 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 25,786 | - | (g) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 4,338,653 | - | (h) | |||||||||||||||||
Commercial loan troubled debt restructurings (i) (j) | 39,015 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Maximum loss exposure represents $55.4 million of current investments and $3.6 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. | ||||||||||||||||||||
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 $63.4 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $.7 million classified as MSR related to proprietary and agency residential mortgage securitizations and $5.3 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servicing advances of $19.8 million are classified as Other assets. | ||||||||||||||||||||
Includes $859.7 million classified as Trading securities and $3.5 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $34.8 million of current receivables and $4.2 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 March 31, 2014: | ||||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships | $ | 63,409 | $ | 6,472 | (a) | |||||||||||||||
New market tax credit LLCs (b) (c) | 22,492 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 375,247 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 53,463 | 60,711 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 54,559 | - | (g) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 3,861,630 | - | (h) | |||||||||||||||||
Short positions in agency mortgage-backed securities (f) | N/A | 1,586 | Trading liabilities | |||||||||||||||||
Commercial loan troubled debt restructurings (i) (j) | 58,736 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1—Financial Information for additional information. | ||||||||||||||||||||
Maximum loss exposure represents $56.9 million of current investments and $6.5 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. | ||||||||||||||||||||
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 $60.7 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $2.4 million classified as MSR related to proprietary and agency residential mortgage securitizations and $6.6 million classified as Trading securities related to proprietary and agency residential mortgage securitizations. Aggregate servicing advances of $45.5 million are classified as Other assets. | ||||||||||||||||||||
Includes $537.3 million classified as Trading securities and $3.3 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $57.2 million of current receivables and $1.5 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. | ||||||||||||||||||||
Derivatives
Derivatives | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Derivatives [Abstract] | ||||||||||||||||||||
Derivatives | Note 14 – 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. 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 March 31, 2015 and 2014, respectively, FHN had $93.4 million and $101.8 million of cash receivables and $56.8 million and $82.5 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 Condensed 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 $53.5 million and $49.6 million for the three months ended March 31, 2015 and 2014, 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 March 31, 2015 and 2014: | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,675,215 | $ | 83,797 | $ | 2,241 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,675,215 | 2,241 | 83,797 | |||||||||||||||||
Option Contracts Purchased | 12,500 | 60 | - | |||||||||||||||||
Option Contracts Written | 7,500 | - | 12 | |||||||||||||||||
Forwards and Futures Purchased | 3,181,574 | 5,805 | 538 | |||||||||||||||||
Forwards and Futures Sold | 3,511,607 | 1,105 | 7,290 | |||||||||||||||||
31-Mar-14 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,775,287 | $ | 76,173 | $ | 7,103 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,775,287 | 7,103 | 76,173 | |||||||||||||||||
Option Contracts Purchased | 10,000 | 29 | - | |||||||||||||||||
Forwards and Futures Purchased | 2,234,232 | 1,738 | 1,260 | |||||||||||||||||
Forwards and Futures Sold | 2,607,585 | 2,277 | 1,478 | |||||||||||||||||
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 Condensed 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 $250.0 million and $554.0 million on March 31, 2015 and 2014, respectively. These swaps have been accounted for as fair value hedges under the shortcut method. The balance sheet amount of these swaps was $12.0 million and $34.1 million in Derivative assets on March 31, 2015 and 2014, respectively. $304.0 million of these borrowings matured in 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 $6.9 million and $16.0 million in Derivative assets as of March 31, 2015 and 2014, 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 $2.7 million and $16.4 million in Derivative liabilities as of March 31, 2015 and 2014, 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 $5.5 million in Derivative assets as of March 31, 2015. 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 three months ended March 31, 2015 and 2014: | ||||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-15 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 682,318 | $ | 30,204 | $ | 307 | $ | 4,243 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 682,318 | 307 | 30,704 | -4,243 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,350,000 | $ | 24,368 | $ | 2,677 | $ | -18,865 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,350,000 | (c) | $ | 18,912 | (d) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-14 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 742,710 | $ | 26,742 | $ | 2,310 | $ | -645 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 758,882 | 2,310 | 27,242 | 645 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,254,000 | $ | 50,092 | $ | 16,409 | $ | 389 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,254,000 | (c) | $ | -389 | (d) | ||||||||||||
Gains/losses included in the Other expense section of the Consolidated Condensed Statements of Income. | ||||||||||||||||||||
Gains/losses included in the All other income and commissions section of the Consolidated Condensed 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 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. 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 Condensed Statements of Income. | ||||||||||||||||||||
The following tables summarize FHN’s derivative activities associated with held-to-maturity trust preferred loans as of and for the three months ended March 31, 2015 and 2014: | ||||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-15 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 703 | $ | 41 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -41 | (c) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-14 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 943 | $ | 63 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -63 | (c) | ||||||||||||
Assets included in the Loans, net of unearned income section of the Consolidated Condensed 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 March 31, 2015, the derivative liabilities associated with the sales of Visa Class B shares were $5.0 million compared to $4.9 million as of March 31, 2014. See the Visa Matters section of Note 10 – 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 March 31, 2015 and 2014, these loans were valued at $3.8 million and $.8 million, respectively. The balance sheet amount and the gains/losses associated with these derivatives were not significant. | ||||||||||||||||||||
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 Condensed 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 require the posting of additional collateral; whereas if a counterparty's credit ratings were to increase, the counterparty could require 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 $107.3 million of assets and $84.5 million of liabilities on March 31, 2015, and $121.9 million of assets and $90.3 million of liabilities on March 31, 2014. As of March 31, 2015 and 2014, FHN had received collateral of $173.5 million and $200.0 million and posted collateral of $84.7 million and $92.5 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 require 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 $107.3 million of assets and $21.1 million of liabilities on March 31, 2015, and $121.9 million of assets and $22.6 million of liabilities on March 31, 2014. As of March 31, 2015 and 2014, FHN had received collateral of $173.5 million and $200.0 million and posted collateral of $25.9 million and $27.8 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. 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 Condensed Statements of Condition as of March 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: | ||||||||||||||||||||
2015 (b) | $ | 140,917 | $ | - | $ | 140,917 | $ | -14,053 | $ | -126,820 | $ | 44 | ||||||||
2014 (b) | 162,420 | - | 162,420 | -33,495 | -128,810 | 115 | ||||||||||||||
Included in Derivative Assets on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $7.2 million and $4.0 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. | ||||||||||||||||||||
2015 and 2014 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 Condensed Statements of Condition as of March 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: | ||||||||||||||||||||
2015 (b) | $ | 120,429 | $ | - | $ | 120,429 | $ | -14,053 | $ | -82,440 | $ | 23,936 | ||||||||
2014 (b) | 130,180 | - | 130,180 | -33,495 | -91,331 | 5,354 | ||||||||||||||
Included in Derivative Liabilities on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $12.8 million and $7.7 million, respectively, 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. | ||||||||||||||||||||
2015 and 2014 are comprised entirely of interest rate derivative contracts. | ||||||||||||||||||||
Master_Netting_And_Similar_Agr
Master Netting And Similar Agreements | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Master Netting Agreements And Similar Arrangements [Abstract] | |||||||||||||||||||
Master Netting Agreements And Similar Arrangements | Note 15 –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 Condensed 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 Condensed Statements of Condition and collateral pledged by counterparties as of March 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: | |||||||||||||||||||
2015 | $ | 831,541 | $ | - | $ | 831,541 | $ | -1,581 | $ | -823,157 | $ | 6,803 | |||||||
2014 | 605,276 | - | 605,276 | -5,827 | -591,273 | 8,176 | |||||||||||||
The following table provides a detail of Securities sold under agreements to repurchase as presented on the Consolidated Condensed Statements of Condition and collateral pledged by FHN as of March 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: | |||||||||||||||||||
2015 | $ | 309,297 | $ | - | $ | 309,297 | $ | -1,581 | $ | -307,637 | $ | 79 | |||||||
2014 | 411,795 | - | 411,795 | -5,827 | -405,908 | 60 |
Fair_Value_Of_Assets_And_Liabi
Fair Value Of Assets And Liabilities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Fair Value Of Assets And Liabilities | Note 16 – 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 March 31, 2015: | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 108,199 | $ | - | $ | 108,199 | |||||||||||||||||
Government agency issued MBS | - | 547,569 | - | 547,569 | |||||||||||||||||||||
Government agency issued CMO | - | 312,086 | - | 312,086 | |||||||||||||||||||||
Other U.S. government agencies | - | 161,317 | - | 161,317 | |||||||||||||||||||||
States and municipalities | - | 57,181 | - | 57,181 | |||||||||||||||||||||
Corporate and other debt | - | 339,560 | 5 | 339,565 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 1,225 | - | 1,225 | |||||||||||||||||||||
Total trading securities - capital markets | - | 1,527,137 | 5 | 1,527,142 | |||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||
Principal only | - | - | 4,013 | 4,013 | |||||||||||||||||||||
Interest only | - | - | 83 | 83 | |||||||||||||||||||||
Subordinated bonds | - | - | 1,225 | 1,225 | |||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 5,321 | 5,321 | |||||||||||||||||||||
Loans held-for-sale | - | - | 26,700 | 26,700 | |||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. treasuries | - | 100 | - | 100 | |||||||||||||||||||||
Government agency issued MBS | - | 762,850 | - | 762,850 | |||||||||||||||||||||
Government agency issued CMO | - | 2,716,147 | - | 2,716,147 | |||||||||||||||||||||
Other U.S. government agencies | - | - | 1,691 | 1,691 | |||||||||||||||||||||
States and municipalities | - | 8,405 | 1,500 | 9,905 | |||||||||||||||||||||
Equity, mutual funds, and other | 25,870 | - | - | 25,870 | |||||||||||||||||||||
Total securities available-for-sale | 25,870 | 3,487,502 | 3,191 | 3,516,563 | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||
Mortgage servicing rights | - | - | 2,342 | 2,342 | |||||||||||||||||||||
Deferred compensation assets | 26,440 | - | - | 26,440 | |||||||||||||||||||||
Derivatives, forwards and futures | 6,910 | - | - | 6,910 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 140,976 | - | 140,976 | |||||||||||||||||||||
Derivatives, other | - | 267 | - | 267 | |||||||||||||||||||||
Total other assets | 33,350 | 141,243 | 2,342 | 176,935 | |||||||||||||||||||||
Total assets | $ | 59,220 | $ | 5,155,882 | $ | 37,559 | $ | 5,252,661 | |||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 514,886 | $ | - | $ | 514,886 | |||||||||||||||||
Government agency issued CMO | - | 1 | - | 1 | |||||||||||||||||||||
Other U.S. government agencies | - | 17,863 | - | 17,863 | |||||||||||||||||||||
States and municipalities | - | 1,643 | - | 1,643 | |||||||||||||||||||||
Corporate and other debt | - | 276,748 | - | 276,748 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 2,000 | - | 2,000 | |||||||||||||||||||||
Total trading liabilities - capital markets | - | 813,141 | - | 813,141 | |||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||
Derivatives, forwards and futures | 7,828 | - | - | 7,828 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 120,440 | - | 120,440 | |||||||||||||||||||||
Derivatives, other | - | - | 5,005 | 5,005 | |||||||||||||||||||||
Total other liabilities | 7,828 | 120,440 | 5,005 | 133,273 | |||||||||||||||||||||
Total liabilities | $ | 7,828 | $ | 933,581 | $ | 5,005 | $ | 946,414 | |||||||||||||||||
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of March 31, 2014: | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 145,136 | $ | - | $ | 145,136 | |||||||||||||||||
Government agency issued MBS | - | 412,994 | - | 412,994 | |||||||||||||||||||||
Government agency issued CMO | - | 124,304 | - | 124,304 | |||||||||||||||||||||
Other U.S. government agencies | - | 86,672 | - | 86,672 | |||||||||||||||||||||
States and municipalities | - | 29,787 | - | 29,787 | |||||||||||||||||||||
Corporate and other debt | - | 382,341 | 5 | 382,346 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 6,922 | - | 6,922 | |||||||||||||||||||||
Total trading securities - capital markets | - | 1,188,156 | 5 | 1,188,161 | |||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||
Principal only | - | - | 4,764 | 4,764 | |||||||||||||||||||||
Interest only | - | - | 339 | 339 | |||||||||||||||||||||
Subordinated bonds | - | - | 1,485 | 1,485 | |||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 6,588 | 6,588 | |||||||||||||||||||||
Loans held-for-sale | - | - | 229,219 | 229,219 | |||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. treasuries | - | 39,990 | - | 39,990 | |||||||||||||||||||||
Government agency issued MBS | - | 792,562 | - | 792,562 | |||||||||||||||||||||
Government agency issued CMO | - | 2,531,770 | - | 2,531,770 | |||||||||||||||||||||
Other U.S. government agencies | - | - | 2,182 | 2,182 | |||||||||||||||||||||
States and municipalities | - | 13,655 | 1,500 | 15,155 | |||||||||||||||||||||
Venture capital | - | - | 4,300 | 4,300 | |||||||||||||||||||||
Equity, mutual funds, and other | 26,482 | - | - | 26,482 | |||||||||||||||||||||
Total securities available-for-sale | 26,482 | 3,377,977 | 7,982 | 3,412,441 | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||
Mortgage servicing rights | - | - | 4,687 | 4,687 | |||||||||||||||||||||
Deferred compensation assets | 23,335 | - | - | 23,335 | |||||||||||||||||||||
Derivatives, forwards and futures | 4,015 | - | - | 4,015 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 162,450 | - | 162,450 | |||||||||||||||||||||
Total other assets | 27,350 | 162,450 | 4,687 | 194,487 | |||||||||||||||||||||
Total assets | $ | 53,832 | $ | 4,728,583 | $ | 248,481 | $ | 5,030,896 | |||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 420,574 | $ | - | $ | 420,574 | |||||||||||||||||
Government agency issued MBS | - | 1,083 | - | 1,083 | |||||||||||||||||||||
Government agency issued CMO | - | 503 | - | 503 | |||||||||||||||||||||
Other U.S. government agencies | - | 9,739 | - | 9,739 | |||||||||||||||||||||
States and municipalities | - | 1,436 | - | 1,436 | |||||||||||||||||||||
Corporate and other debt | - | 233,287 | - | 233,287 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 635 | - | 635 | |||||||||||||||||||||
Total trading liabilities - capital markets | - | 667,257 | - | 667,257 | |||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||
Derivatives, forwards and futures | 2,738 | - | - | 2,738 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 130,180 | - | 130,180 | |||||||||||||||||||||
Derivatives, other | - | - | 4,945 | 4,945 | |||||||||||||||||||||
Total other liabilities | 2,738 | 130,180 | 4,945 | 137,863 | |||||||||||||||||||||
Total liabilities | $ | 2,738 | $ | 797,437 | $ | 4,945 | $ | 805,120 | |||||||||||||||||
Changes in Recurring Level 3 Fair Value Measurements | |||||||||||||||||||||||||
The changes in Level 3 assets and liabilities measured at fair value for the three months ended March 31, 2015 and 2014, on a recurring basis are summarized as follows: | |||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Securities | Mortgage | ||||||||||||||||||||||||
Trading | Loans held- | available- | servicing | Net derivative | |||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | for-sale | rights, net | liabilities | ||||||||||||||||||||
Balance on January 1, 2015 | $ | 5,643 | $ | 27,910 | $ | 3,307 | $ | 2,517 | $ | -5,240 | |||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||
Net income | 170 | 1,142 | - | - | -57 | ||||||||||||||||||||
Other comprehensive income /(loss) | - | - | -14 | - | - | ||||||||||||||||||||
Purchases | - | 854 | - | - | - | ||||||||||||||||||||
Issuances | - | - | - | - | - | ||||||||||||||||||||
Sales | - | - | - | - | - | ||||||||||||||||||||
Settlements | -487 | -3,922 | -102 | -175 | 292 | ||||||||||||||||||||
Net transfers into/(out of) Level 3 | - | 716 | (b) | - | - | - | |||||||||||||||||||
Balance on March 31, 2015 | $ | 5,326 | $ | 26,700 | $ | 3,191 | $ | 2,342 | $ | -5,005 | |||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 171 | (a) | $ | 1,142 | (a) | $ | - | $ | - | $ | -57 | (c) | ||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
AFS Securities | 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 | -85 | 1,187 | - | - | 1,133 | -2,341 | |||||||||||||||||||
Other comprehensive income /(loss) | - | - | -17 | - | - | - | |||||||||||||||||||
Purchases | 1,559 | 4,106 | - | - | - | - | |||||||||||||||||||
Issuances | - | - | - | - | - | - | |||||||||||||||||||
Sales | -1,715 | - | - | - | -68,519 | - | |||||||||||||||||||
Settlements | -366 | -4,193 | -127 | - | -720 | 311 | |||||||||||||||||||
Net transfers into/(out of) Level 3 | - | -2,337 | (b) | - | - | - | - | ||||||||||||||||||
Balance on March 31, 2014 | $ | 6,593 | $ | 229,219 | $ | 3,682 | $ | 4,300 | $ | 4,687 | $ | -4,945 | |||||||||||||
Net unrealized gains/(losses) included in net income | $ | 40 | (a) | $ | 1,187 | (a) | $ | - | $ | - | $ | 73 | (a) | $ | -2,341 | (c) | |||||||||
Primarily included in mortgage banking income on the Consolidated Condensed 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. | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
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 March 31, 2015 and 2014, 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. | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
Carrying value at March 31, 2015 | 31-Mar-15 | ||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 3,211 | $ | - | $ | 3,211 | $ | 3 | |||||||||||||||
Loans held-for-sale - first mortgages | - | - | 858 | 858 | 38 | ||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 40,386 | 40,386 | -1,541 | ||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 29,681 | 29,681 | -376 | ||||||||||||||||||||
Other assets (c) | - | - | 28,265 | 28,265 | -395 | ||||||||||||||||||||
$ | -2,271 | ||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
Carrying value at March 31, 2014 | 31-Mar-14 | ||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 3,494 | $ | - | $ | 3,494 | $ | 42 | |||||||||||||||
Loans held-for-sale - first mortgages | - | - | 9,191 | 9,191 | -17 | ||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 57,035 | 57,035 | -488 | ||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 42,970 | 42,970 | -858 | ||||||||||||||||||||
Other assets (c) | - | - | 30,445 | 30,445 | -325 | ||||||||||||||||||||
$ | -1,646 | ||||||||||||||||||||||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, "Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | |||||||||||||||||||||||||
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 accounted for under the equity method. | |||||||||||||||||||||||||
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 March 31, 2015 and 2014: | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||
Level 3 Class | 31-Mar-15 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||
Trading securities - mortgage (a) | $ | 5,321 | Discounted cash flow | Prepayment speeds | 42% - 46% | ||||||||||||||||||||
Discount rate | 6% - 55% | ||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 27,558 | Discounted cash flow | Prepayment speeds - First mortgage | 2% - 22% | |||||||||||||||||||||
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% | ||||||||||||||||||||||||
Derivative liabilities, other | 5,005 | Discounted cash flow | Visa covered litigation resolution amount | $4.5 billion - $5.6 billion | |||||||||||||||||||||
Probability of resolution scenarios | 10% - 25% | ||||||||||||||||||||||||
Time until resolution | 6 - 48 months | ||||||||||||||||||||||||
Loans, net of unearned income (b) | 40,386 | 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) | 29,681 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||
Other assets (d) | 28,265 | 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 and subordinated bonds are discussed in the Trading securities-mortgage paragraph. | |||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. 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 accounted for under the equity method. | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||
Level 3 Class | 31-Mar-14 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||
Trading securities - mortgage (a) | $ | 6,588 | Discounted cash flow | Prepayment speeds | 40% - 46% | ||||||||||||||||||||
Discount rate | 47% - 49% | ||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 238,410 | 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% | ||||||||||||||||||||||||
Derivative liabilities, other | 4,945 | Discounted cash flow | Visa covered litigation resolution amount | $4.4 billion - $5.2 billion | |||||||||||||||||||||
Probability of resolution scenarios | 10% - 30% | ||||||||||||||||||||||||
Time until resolution | 12 - 48 months | ||||||||||||||||||||||||
Loans, net of unearned income (b) | 57,035 | 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) | 42,970 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||
Other assets (d) | 30,445 | 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 | |||||||||||||||||||||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Financial Information for additional information. | |||||||||||||||||||||||||
The unobservable inputs for principal-only and interest-only trading securities and subordinated bonds are discussed in the Trading securities-mortgage paragraph. | |||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. 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 accounted for under the equity method. | |||||||||||||||||||||||||
Trading securities-mortgage. Prepayment rates and credit spreads (part of the discount rate) are significant unobservable inputs used in the fair value measurement of FHN’s mortgage trading securities which include interest-only strips, principal-only strips, and subordinated bonds. Increases in prepayment rates and credit spreads in isolation would result in significantly lower fair value measurements for the associated assets. Conversely, decreases in prepayment rates and credit spreads in isolation would result in significantly higher fair value measurements for the associated assets. 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. FHN’s Corporate Accounting Department monitors sale activity and changes in the fair value of excess interest monthly. | |||||||||||||||||||||||||
Loans held-for-sale. Prepayment rates, foreclosure losses (2015), credit spreads (2014), and delinquency adjustment factors (2014) 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. | |||||||||||||||||||||||||
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 accounted for under the equity method 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. | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
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-Mar-15 | |||||||||||||||||||||||||
(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 | $ | 26,700 | $ | 40,762 | $ | -14,062 | |||||||||||||||||||
Nonaccrual loans | 6,780 | 13,023 | -6,243 | ||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 1,343 | 1,686 | -343 | ||||||||||||||||||||||
31-Mar-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 | $ | 229,219 | $ | 374,401 | $ | -145,182 | |||||||||||||||||||
Nonaccrual loans | 61,842 | 133,600 | -71,758 | ||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 7,260 | 15,010 | -7,750 | ||||||||||||||||||||||
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: | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
31-Mar | |||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||
Changes in fair value included in net income: | |||||||||||||||||||||||||
Mortgage banking noninterest income | |||||||||||||||||||||||||
Loans held-for-sale | $ | 1,142 | $ | 1,187 | |||||||||||||||||||||
For the three months ended March 31, 2015, and 2014, the amounts for residential real estate loans held-for-sale include gains of $.4 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 estimated default rates and estimated loss severities. 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 Condensed 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 recorded at fair value in the Consolidated Condensed 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 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. FHN uses the price in the third quarter 2013 servicing sale 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. | |||||||||||||||||||||||||
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 Condensed 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 third quarter 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. | |||||||||||||||||||||||||
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 during periods prior to January 1, 2015 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 accounted for under the equity method are written down to estimated fair value quarterly based on the estimated value of the associated tax credits which incorporates estimates of required yield for hypothetical investors. The fair value of all other tax credit investments is estimated using recent transaction information with adjustments for differences in individual investments. Deferred compensation assets are recognized at fair value, which is based on quoted prices in active markets. Beginning in first quarter 2015, Other assets also includes property acquired in connection with foreclosures of loans that have government insurance or guarantees. These receivables are valued at the expected amounts recoverable for the insurance or guarantees. | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
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 March 31, 2015 and 2014, 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 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 Condensed Statements of Condition as well as unfunded loan commitments and stand by and other commitments as of March 31, 2015 and 2014. | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
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 | $ | 9,570,703 | $ | - | $ | - | $ | 9,523,767 | $ | 9,523,767 | |||||||||||||||
Commercial real estate | 1,303,232 | - | - | 1,285,775 | 1,285,775 | ||||||||||||||||||||
Retail: | |||||||||||||||||||||||||
Consumer real estate | 4,813,572 | - | - | 4,640,351 | 4,640,351 | ||||||||||||||||||||
Permanent mortgage | 491,522 | - | - | 458,133 | 458,133 | ||||||||||||||||||||
Credit card & other | 324,766 | - | - | 326,506 | 326,506 | ||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 16,503,795 | - | - | 16,234,532 | 16,234,532 | ||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||
Interest-bearing cash | 438,633 | 438,633 | - | - | 438,633 | ||||||||||||||||||||
Federal funds sold | 43,052 | - | 43,052 | - | 43,052 | ||||||||||||||||||||
Securities purchased under agreements to resell | 831,541 | - | 831,541 | - | 831,541 | ||||||||||||||||||||
Total short-term financial assets | 1,313,226 | 438,633 | 874,593 | - | 1,313,226 | ||||||||||||||||||||
Trading securities (a) | 1,532,463 | - | 1,527,137 | 5,326 | 1,532,463 | ||||||||||||||||||||
Loans held-for-sale (a) | 133,958 | - | 3,211 | 130,747 | 133,958 | ||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,672,331 | 25,870 | 3,487,502 | 158,959 | 3,672,331 | ||||||||||||||||||||
Securities held-to-maturity | 4,299 | - | - | 5,451 | 5,451 | ||||||||||||||||||||
Derivative assets (a) | 148,153 | 6,910 | 141,243 | - | 148,153 | ||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Tax credit investments | 80,331 | - | - | 62,768 | 62,768 | ||||||||||||||||||||
Deferred compensation assets | 26,440 | 26,440 | - | - | 26,440 | ||||||||||||||||||||
Total other assets | 106,771 | 26,440 | - | 62,768 | 89,208 | ||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||
Cash & due from banks | 282,800 | 282,800 | - | - | 282,800 | ||||||||||||||||||||
Capital markets receivables | 190,662 | - | 190,662 | - | 190,662 | ||||||||||||||||||||
Accrued interest receivable | 72,716 | - | 72,716 | - | 72,716 | ||||||||||||||||||||
Total nonearning assets | 546,178 | 282,800 | 263,378 | - | 546,178 | ||||||||||||||||||||
Total assets | $ | 23,961,174 | $ | 780,653 | $ | 6,297,064 | $ | 16,597,783 | $ | 23,675,500 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||
Defined maturity | $ | 1,210,417 | $ | - | $ | 1,216,398 | $ | - | $ | 1,216,398 | |||||||||||||||
Undefined maturity | 17,428,137 | - | 17,428,137 | - | 17,428,137 | ||||||||||||||||||||
Total deposits | 18,638,554 | - | 18,644,535 | - | 18,644,535 | ||||||||||||||||||||
Trading liabilities (a) | 813,141 | - | 813,141 | - | 813,141 | ||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||
Federal funds purchased | 703,352 | - | 703,352 | - | 703,352 | ||||||||||||||||||||
Securities sold under agreements to repurchase | 309,297 | - | 309,297 | - | 309,297 | ||||||||||||||||||||
Other short-term borrowings | 158,745 | - | 158,745 | - | 158,745 | ||||||||||||||||||||
Total short-term financial liabilities | 1,171,394 | - | 1,171,394 | - | 1,171,394 | ||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||
Real estate investment trust-preferred | 45,913 | - | - | 49,350 | 49,350 | ||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 18,208 | 18,208 | ||||||||||||||||||||
Borrowings secured by residential real estate | 60,914 | - | - | 52,568 | 52,568 | ||||||||||||||||||||
Other long term borrowings | 1,448,388 | - | 1,426,924 | - | 1,426,924 | ||||||||||||||||||||
Total term borrowings | 1,573,215 | - | 1,426,924 | 120,126 | 1,547,050 | ||||||||||||||||||||
Derivative liabilities (a) | 133,273 | 7,828 | 120,440 | 5,005 | 133,273 | ||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||
Capital markets payables | 91,176 | - | 91,176 | - | 91,176 | ||||||||||||||||||||
Accrued interest payable | 31,745 | - | 31,745 | - | 31,745 | ||||||||||||||||||||
Total other noninterest-bearing liabilities | 122,921 | - | 122,921 | - | 122,921 | ||||||||||||||||||||
Total liabilities | $ | 22,452,498 | $ | 7,828 | $ | 22,299,355 | $ | 125,131 | $ | 22,432,314 | |||||||||||||||
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-Mar-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 | $ | 7,680,262 | $ | - | $ | - | $ | 7,595,334 | $ | 7,595,334 | |||||||||||||||
Commercial real estate | 1,136,895 | - | - | 1,093,796 | 1,093,796 | ||||||||||||||||||||
Retail: | |||||||||||||||||||||||||
Consumer real estate | 5,134,606 | - | - | 4,824,384 | 4,824,384 | ||||||||||||||||||||
Permanent mortgage | 599,721 | - | - | 540,843 | 540,843 | ||||||||||||||||||||
Credit card & other | 320,731 | - | - | 322,690 | 322,690 | ||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 14,872,215 | - | - | 14,377,047 | 14,377,047 | ||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||
Interest-bearing cash | 685,540 | 685,540 | - | - | 685,540 | ||||||||||||||||||||
Federal funds sold | 16,555 | - | 16,555 | - | 16,555 | ||||||||||||||||||||
Securities purchased under agreements to resell | 605,276 | - | 605,276 | - | 605,276 | ||||||||||||||||||||
Total short-term financial assets | 1,307,371 | 685,540 | 621,831 | - | 1,307,371 | ||||||||||||||||||||
Trading securities (a) | 1,194,749 | - | 1,188,156 | 6,593 | 1,194,749 | ||||||||||||||||||||
Loans held-for-sale (a) | 361,359 | - | 3,494 | 357,865 | 361,359 | ||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,571,179 | 26,482 | 3,377,977 | 166,720 | 3,571,179 | ||||||||||||||||||||
Securities held-to-maturity | 4,274 | - | - | 5,454 | 5,454 | ||||||||||||||||||||
Derivative assets (a) | 166,465 | 4,015 | 162,450 | - | 166,465 | ||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Tax credit investments | 85,901 | - | - | 73,344 | 73,344 | ||||||||||||||||||||
Deferred compensation assets | 23,335 | 23,335 | - | - | 23,335 | ||||||||||||||||||||
Total other assets | 109,236 | 23,335 | - | 73,344 | 96,679 | ||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||
Cash & due from banks | 450,270 | 450,270 | - | - | 450,270 | ||||||||||||||||||||
Capital markets receivables | 51,082 | - | 51,082 | - | 51,082 | ||||||||||||||||||||
Accrued interest receivable | 73,010 | - | 73,010 | - | 73,010 | ||||||||||||||||||||
Total nonearning assets | 574,362 | 450,270 | 124,092 | - | 574,362 | ||||||||||||||||||||
Total assets | $ | 22,161,210 | $ | 1,189,642 | $ | 5,478,000 | $ | 14,987,023 | $ | 21,654,665 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||
Defined maturity | $ | 1,436,657 | $ | - | $ | 1,448,362 | $ | - | $ | 1,448,362 | |||||||||||||||
Undefined maturity | 15,236,086 | - | 15,236,086 | - | 15,236,086 | ||||||||||||||||||||
Total deposits | 16,672,743 | - | 16,684,448 | - | 16,684,448 | ||||||||||||||||||||
Trading liabilities (a) | 667,257 | - | 667,257 | - | 667,257 | ||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||
Federal funds purchased | 1,135,665 | - | 1,135,665 | - | 1,135,665 | ||||||||||||||||||||
Securities sold under agreements to repurchase | 411,795 | - | 411,795 | - | 411,795 | ||||||||||||||||||||
Other short-term borrowings | 204,023 | - | 204,023 | - | 204,023 | ||||||||||||||||||||
Total short-term financial liabilities | 1,751,483 | - | 1,751,483 | - | 1,751,483 | ||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||
Real estate investment trust-preferred | 45,845 | - | - | 49,350 | 49,350 | ||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 17,810 | 17,810 | ||||||||||||||||||||
Borrowings secured by residential real estate | 77,119 | - | - | 66,554 | 66,554 | ||||||||||||||||||||
Other long term borrowings | 1,366,084 | - | 1,362,408 | - | 1,362,408 | ||||||||||||||||||||
Total term borrowings | 1,507,048 | - | 1,362,408 | 133,714 | 1,496,122 | ||||||||||||||||||||
Derivative liabilities (a) | 137,863 | 2,738 | 130,180 | 4,945 | 137,863 | ||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||
Capital markets payables | 39,510 | - | 39,510 | - | 39,510 | ||||||||||||||||||||
Accrued interest payable | 33,244 | - | 33,244 | - | 33,244 | ||||||||||||||||||||
Total other noninterest-bearing liabilities | 72,754 | - | 72,754 | - | 72,754 | ||||||||||||||||||||
Total liabilities | $ | 20,809,148 | $ | 2,738 | $ | 20,668,530 | $ | 138,659 | $ | 20,809,927 | |||||||||||||||
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. | |||||||||||||||||||||||||
Contractual Amount | Fair Value | ||||||||||||||||||||||||
(Dollars in thousands) | 31-Mar-15 | 31-Mar-14 | 31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||
Unfunded Commitments: | |||||||||||||||||||||||||
Loan commitments | $ | 7,073,470 | $ | 7,543,821 | $ | 2,439 | $ | 1,805 | |||||||||||||||||
Standby and other commitments | 374,173 | 316,399 | 5,229 | 5,642 | |||||||||||||||||||||
Financial_Information_Policy
Financial Information (Policy) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Financial Information [Abstract] | ||||||||||||||
Basis Of Accounting | Basis of Accounting. The unaudited interim consolidated condensed 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. In the opinion of management, all necessary adjustments have been made for a fair presentation of financial position and results of operations for the periods presented. These adjustments are of a normal recurring nature unless otherwise disclosed in this Quarterly Report on Form 10-Q. The operating results for the interim 2015 period are not necessarily indicative of the results that may be expected going forward. For further information, refer to the audited consolidated financial statements in the 2014 Annual Report to shareholders, which were filed as Exhibit 13 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2014. | ||||||||||||||
Summary of Accounting Changes | Summary of Accounting Changes. 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. | |||||||||||||
Effective January 1, 2015, FHN retroactively adopted the requirements of ASU 2014-01 with an election to use the proportional amortization method for all qualifying investments. FHN believes the proportional amortization method better represents the economics of its qualified affordable housing investments and provides users with a better understanding of the returns from such investments when compared to the equity method. FHN will continue to use the equity method for non-qualifying affordable housing investments and its other tax credit investments. The cumulative effects of the retrospective application of the change in amortization method are summarized in the tables below. | ||||||||||||||
As of March 31, | ||||||||||||||
As of December 31, | ||||||||||||||
(Dollars in thousands, except per share amounts) | 2014 | 2014 | 2013 | |||||||||||
Increase/(decrease) to previously reported Consolidated Statements of Condition amounts | ||||||||||||||
Other assets | $ | -5,153 | $ | -4,700 | $ | -5,340 | ||||||||
Other liabilities | 6,472 | 4,678 | 7,034 | |||||||||||
Undivided profits | -11,625 | -9,378 | -12,374 | |||||||||||
Three months ended March 31, | For the Year Ended December 31, | |||||||||||||
2014 | 2014 | 2013 | 2012 | |||||||||||
Increase/(decrease) to previously reported Consolidated Statements of Income amounts | ||||||||||||||
Other expense | $ | -2,170 | $ | -8,680 | $ | -10,082 | $ | -14,177 | ||||||
Provision/(benefit) for income taxes | 1,421 | 5,684 | 12,780 | 13,234 | ||||||||||
Income/(loss) available to common shareholders | 749 | 2,996 | -2,698 | 943 | ||||||||||
Diluted earnings/(loss) per share | - | 0.01 | -0.01 | - | ||||||||||
Investment balances, including all legally binding commitments to fund future investments, are included in Other assets on the Consolidated Condensed Statements of Condition. A liability is recognized in Other liabilities on the Consolidated Condensed Statement of Condition for all legally binding unfunded commitments to fund qualifying LIHTC investments. Amortization and other write-downs of qualifying LIHTC investments are presented on a net basis as a component of the Provision/(benefit) for income taxes on the Consolidated Condensed Statement of Income, while amortization and write-downs of non-qualifying LIHTC and other tax credit investments are recorded in Other expense. The income tax credits and deductions are recorded as a reduction of income tax expense and a reduction of federal income taxes payable. | ||||||||||||||
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 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 is required 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 adopted the requirements of ASU 2014-04 prospectively and this did not have a material effect on FHN’s statements of condition, results of operation or cash flows. | ||||||||||||||
In August 2014, the FASB issued ASU 2014-14, “Classification of Certain Government-Guaranteed Mortgage Loan 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 is 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 adopted the requirements for ASU 2014-14 prospectively for transactions occurring after its effective date and this did not have a material effect on FHN’s statement of condition, results of operation or cash flows. | ||||||||||||||
Accounting Changes Issued but Not Currently Effective | Accounting Changes Issued but Not Currently Effective | |||||||||||||
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 ASU2014-09 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 execute 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 2014-15, “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, 2016 and all interim and annual periods thereafter. The provisions of ASU 2014-15 are not anticipated to affect FHN. | ||||||||||||||
In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis.” ASU 2015-02 revises current consolidation guidance to modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities. ASU 2015-02 also eliminates the presumption that a general partner should consolidate a limited partnership, revises the consolidation analysis for reporting entities that have fee arrangements and related party relationships with variable interest entities, and provides a scope exception for entities with interests in registered money market funds. ASU 2015-02 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. FHN is evaluating the effects of ASU 2015-02 on its current consolidation assessments. | ||||||||||||||
In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs.” ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented as a direct reduction from the carrying value of that debt liability, consistent with debt discounts. ASU 2015-03 requires application on a retrospective basis, with prior periods revised to reflect the effects of adoption. ASU 2015-03 is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. Consistent with current requirements, FHN currently classifies debt issuance costs within Other assets in the Consolidated Condensed Statements of Condition. ASU 2015-03 will have no effect on the recognition of interest expense. | ||||||||||||||
Financial_Information_Tables
Financial Information (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Accounting Changes And Error Corrections [Abstract] | ||||||||||||||
Schedule of Accounting Changes | Effective January 1, 2015, FHN retroactively adopted the requirements of ASU 2014-01 with an election to use the proportional amortization method for all qualifying investments. FHN believes the proportional amortization method better represents the economics of its qualified affordable housing investments and provides users with a better understanding of the returns from such investments when compared to the equity method. FHN will continue to use the equity method for non-qualifying affordable housing investments and its other tax credit investments. The cumulative effects of the retrospective application of the change in amortization method are summarized in the tables below. | |||||||||||||
As of March 31, | ||||||||||||||
As of December 31, | ||||||||||||||
(Dollars in thousands, except per share amounts) | 2014 | 2014 | 2013 | |||||||||||
Increase/(decrease) to previously reported Consolidated Statements of Condition amounts | ||||||||||||||
Other assets | $ | -5,153 | $ | -4,700 | $ | -5,340 | ||||||||
Other liabilities | 6,472 | 4,678 | 7,034 | |||||||||||
Undivided profits | -11,625 | -9,378 | -12,374 | |||||||||||
Three months ended March 31, | For the Year Ended December 31, | |||||||||||||
2014 | 2014 | 2013 | 2012 | |||||||||||
Increase/(decrease) to previously reported Consolidated Statements of Income amounts | ||||||||||||||
Other expense | $ | -2,170 | $ | -8,680 | $ | -10,082 | $ | -14,177 | ||||||
Provision/(benefit) for income taxes | 1,421 | 5,684 | 12,780 | 13,234 | ||||||||||
Income/(loss) available to common shareholders | 749 | 2,996 | -2,698 | 943 | ||||||||||
Diluted earnings/(loss) per share | - | 0.01 | -0.01 | - |
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Investment Securities [Abstract] | |||||||||||||||||||
Schedule Of FHN's Investment Securities | The following tables summarize FHN’s investment securities on March 31, 2015 and 2014: | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
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") | 727,828 | 35,718 | -696 | 762,850 | |||||||||||||||
Government agency issued collateralized mortgage obligations ("CMO") | 2,691,544 | 35,030 | -10,427 | 2,716,147 | |||||||||||||||
Other U.S. government agencies | 1,655 | 36 | - | 1,691 | |||||||||||||||
States and municipalities | 9,905 | - | - | 9,905 | |||||||||||||||
Equity and other (a) | 181,834 | - | -196 | 181,638 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,612,866 | $ | 70,784 | $ | -11,319 | $ | 3,672,331 | |||||||||||
Securities held-to-maturity ("HTM"): | |||||||||||||||||||
States and municipalities | $ | 4,299 | $ | 1,152 | $ | - | $ | 5,451 | |||||||||||
Total securities held-to-maturity | $ | 4,299 | $ | 1,152 | $ | - | $ | 5,451 | |||||||||||
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 $3.2 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | |||||||||||||||||||
31-Mar-14 | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Gains | Losses | Value | |||||||||||||||
Securities available-for-sale: | |||||||||||||||||||
U.S. treasuries | $ | 39,989 | $ | 1 | $ | - | $ | 39,990 | |||||||||||
Government agency issued MBS | 762,069 | 34,332 | -3,839 | 792,562 | |||||||||||||||
Government agency issued CMO | 2,565,310 | 13,996 | -47,536 | 2,531,770 | |||||||||||||||
Other U.S. government agencies | 2,078 | 104 | - | 2,182 | |||||||||||||||
States and municipalities | 15,155 | - | - | 15,155 | |||||||||||||||
Equity and other (a) | 189,543 | - | -23 | 189,520 | |||||||||||||||
Total securities available-for-sale (b) | $ | 3,574,144 | $ | 48,433 | $ | -51,398 | $ | 3,571,179 | |||||||||||
Securities held-to-maturity: | |||||||||||||||||||
States and municipalities | $ | 4,274 | $ | 1,180 | $ | - | $ | 5,454 | |||||||||||
Total securities held-to-maturity | $ | 4,274 | $ | 1,180 | $ | - | $ | 5,454 | |||||||||||
Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. The remainder is money market, venture capital, 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. | |||||||||||||||||||
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 March 31, 2015, are provided below: | |||||||||||||||||||
Held-to-Maturity | Available-for-Sale | ||||||||||||||||||
Amortized | Fair | Amortized | Fair | ||||||||||||||||
(Dollars in thousands) | Cost | Value | Cost | Value | |||||||||||||||
Within 1 year | $ | - | $ | - | $ | 1,655 | $ | 1,691 | |||||||||||
After 1 year; within 5 years | - | - | 1,600 | 1,600 | |||||||||||||||
After 5 years; within 10 years | - | - | - | - | |||||||||||||||
After 10 years | 4,299 | 5,451 | 8,405 | 8,405 | |||||||||||||||
Subtotal | 4,299 | 5,451 | 11,660 | 11,696 | |||||||||||||||
Government agency issued MBS and CMO (a) | - | - | 3,419,372 | 3,478,997 | |||||||||||||||
Equity and other | - | - | 181,834 | 181,638 | |||||||||||||||
Total | $ | 4,299 | $ | 5,451 | $ | 3,612,866 | $ | 3,672,331 | |||||||||||
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 three months ended March 31: | ||||||||||||||||||
Available-for-sale | |||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||
Gross gains on sales of securities | $ | 276 | $ | 5,657 | |||||||||||||||
Gross (losses) on sales of securities | - | - | |||||||||||||||||
Net gain/(loss) on sales of securities (a) | $ | 276 | $ | 5,657 | |||||||||||||||
Proceeds for the three months ended March 31, 2015 were $.3 million. Proceeds for the three months ended March 31, 2014 were $5.7 million, inclusive of $1.4 million of 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 March 31, 2015 and 2014: | |||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||
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 | $ | 417,267 | $ | -1,729 | $ | 485,053 | $ | -8,698 | $ | 902,320 | $ | -10,427 | |||||||
Government agency issued MBS | 25,712 | -79 | 34,853 | -617 | 60,565 | -696 | |||||||||||||
Total debt securities | 442,979 | -1,808 | 519,906 | -9,315 | 962,885 | -11,123 | |||||||||||||
Equity | 887 | -161 | 9 | -35 | 896 | -196 | |||||||||||||
Total temporarily impaired securities | $ | 443,866 | $ | -1,969 | $ | 519,915 | $ | -9,350 | $ | 963,781 | $ | -11,319 | |||||||
As of March 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 | $ | 1,637,064 | $ | -43,221 | $ | 77,904 | $ | -4,315 | $ | 1,714,968 | $ | -47,536 | |||||||
Government agency issued MBS | 144,901 | -3,839 | - | - | 144,901 | -3,839 | |||||||||||||
Total debt securities | 1,781,965 | -47,060 | 77,904 | -4,315 | 1,859,869 | -51,375 | |||||||||||||
Equity | 43 | -23 | - | - | 43 | -23 | |||||||||||||
Total temporarily impaired securities | $ | 1,782,008 | $ | -47,083 | $ | 77,904 | $ | -4,315 | $ | 1,859,912 | $ | -51,398 | |||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Loans [Abstract] | |||||||||||||||||||||||||||||
Schedule Of Loans By Portfolio Segment | The following table provides the balance of loans by portfolio segment as of March 31, 2015 and 2014, and December 31, 2014: | ||||||||||||||||||||||||||||
31-Mar | 31-Dec | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | 2014 | ||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial, financial, and industrial | $ | 9,638,355 | $ | 7,752,995 | $ | 9,007,286 | |||||||||||||||||||||||
Commercial real estate | 1,320,897 | 1,152,418 | 1,277,717 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Consumer real estate (a) | 4,922,817 | 5,258,014 | 5,048,071 | ||||||||||||||||||||||||||
Permanent mortgage | 511,708 | 622,242 | 538,961 | ||||||||||||||||||||||||||
Credit card & other | 338,346 | 333,792 | 358,131 | ||||||||||||||||||||||||||
Loans, net of unearned income | $ | 16,732,123 | $ | 15,119,461 | $ | 16,230,166 | |||||||||||||||||||||||
Allowance for loan losses | 228,328 | 247,246 | 232,448 | ||||||||||||||||||||||||||
Total net loans | $ | 16,503,795 | $ | 14,872,215 | $ | 15,997,718 | |||||||||||||||||||||||
(a) Balances as of March 31, 2015 and 2014, and December 31, 2014 include $71.6 million, $86.7 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - 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 three months ended March 31, 2015 and 2014: | ||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||
31-Mar | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||||||
Balance, beginning of period | $ | 14,714 | $ | 13,490 | |||||||||||||||||||||||||
Additions | - | 111 | |||||||||||||||||||||||||||
Accretion | -3,371 | -1,657 | |||||||||||||||||||||||||||
Adjustment for payoffs | -1,336 | -233 | |||||||||||||||||||||||||||
Adjustment for charge-offs | - | -64 | |||||||||||||||||||||||||||
Increase in accretable yield (a) | 461 | 4,181 | |||||||||||||||||||||||||||
Balance, end of period | $ | 10,468 | $ | 15,828 | |||||||||||||||||||||||||
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 March 31, 2015, the ALLL related to PCI loans was $3.1 million compared to $1.9 million at March 31, 2014. A loan loss provision credit of $.2 million was recognized during the three months ended March 31, 2015 as compared to a loan loss provision expense of $1.2 million recognized during the three months ended March 31, 2014. The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of March 31, 2015 and 2014, and December 31, 2014: | ||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | 31-Dec-14 | |||||||||||||||||||||||||||
(Dollars in thousands) | Carrying value | Unpaid balance | Carrying value | Unpaid balance | Carrying value | Unpaid balance | |||||||||||||||||||||||
Commercial, financial and industrial | $ | 4,665 | $ | 5,437 | $ | 6,693 | $ | 8,503 | $ | 5,044 | $ | 5,813 | |||||||||||||||||
Commercial real estate | 23,013 | 29,205 | 37,067 | 52,690 | 32,553 | 43,246 | |||||||||||||||||||||||
Consumer real estate | 1,910 | 2,897 | 693 | 973 | 598 | 868 | |||||||||||||||||||||||
Credit card and other | 9 | 12 | - | - | 10 | 14 | |||||||||||||||||||||||
Total | $ | 29,597 | $ | 37,551 | $ | 44,453 | $ | 62,166 | $ | 38,205 | $ | 49,941 | |||||||||||||||||
Information By Class Related To Individually Impaired Loans | Impaired Loans | ||||||||||||||||||||||||||||
The following tables provide information at March 31, 2015 and 2014, 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. | |||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
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 | $ | 13,630 | $ | 16,803 | $ | - | $ | 11,594 | $ | - | |||||||||||||||||||
Income CRE | 4,209 | 11,366 | - | 6,369 | - | ||||||||||||||||||||||||
Residential CRE | - | - | - | 574 | - | ||||||||||||||||||||||||
Total | $ | 17,839 | $ | 28,169 | $ | - | $ | 18,537 | $ | - | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 12,600 | $ | 31,419 | $ | - | $ | 12,989 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 4,518 | 5,827 | - | 4,669 | 3 | ||||||||||||||||||||||||
Permanent mortgage (a) | 7,205 | 9,336 | - | 7,231 | - | ||||||||||||||||||||||||
Total | $ | 24,323 | $ | 46,582 | $ | - | $ | 24,889 | $ | 3 | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 26,252 | $ | 30,759 | $ | 1,709 | $ | 19,772 | $ | 253 | |||||||||||||||||||
TRUPS | 13,429 | 13,700 | 4,310 | 13,444 | - | ||||||||||||||||||||||||
Income CRE | 6,695 | 8,180 | 502 | 7,540 | 30 | ||||||||||||||||||||||||
Residential CRE | 1,624 | 1,991 | 109 | 1,497 | 7 | ||||||||||||||||||||||||
Total | $ | 48,000 | $ | 54,630 | $ | 6,630 | $ | 42,253 | $ | 290 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 85,102 | $ | 87,242 | $ | 20,513 | $ | 84,636 | $ | 448 | |||||||||||||||||||
R/E installment loans | 69,391 | 70,384 | 21,224 | 70,124 | 327 | ||||||||||||||||||||||||
Permanent mortgage | 103,633 | 116,482 | 17,766 | 104,917 | 591 | ||||||||||||||||||||||||
Credit card & other | 484 | 484 | 228 | 508 | 4 | ||||||||||||||||||||||||
Total | $ | 258,610 | $ | 274,592 | $ | 59,731 | $ | 260,185 | $ | 1,370 | |||||||||||||||||||
Total commercial | $ | 65,839 | $ | 82,799 | $ | 6,630 | $ | 60,790 | $ | 290 | |||||||||||||||||||
Total retail | $ | 282,933 | $ | 321,174 | $ | 59,731 | $ | 285,074 | $ | 1,373 | |||||||||||||||||||
Total impaired loans | $ | 348,772 | $ | 403,973 | $ | 66,361 | $ | 345,864 | $ | 1,663 | |||||||||||||||||||
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. | |||||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
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 | $ | 14,130 | $ | 15,648 | $ | - | $ | 20,378 | $ | - | |||||||||||||||||||
TRUPS | - | - | - | 3,250 | - | ||||||||||||||||||||||||
Income CRE | 8,500 | 16,529 | - | 8,512 | - | ||||||||||||||||||||||||
Total | $ | 22,630 | $ | 32,177 | $ | - | $ | 32,140 | $ | - | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC (a) | $ | 16,151 | $ | 37,723 | $ | - | $ | 16,488 | $ | - | |||||||||||||||||||
R/E installment loans (a) | 10,400 | 13,360 | - | 10,705 | - | ||||||||||||||||||||||||
Permanent mortgage (a) | 7,854 | 11,078 | - | 8,157 | - | ||||||||||||||||||||||||
Total | $ | 34,405 | $ | 62,161 | $ | - | $ | 35,350 | $ | - | |||||||||||||||||||
Impaired loans with related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
General C&I | $ | 27,723 | $ | 33,911 | $ | 1,201 | $ | 22,232 | $ | 79 | |||||||||||||||||||
TRUPS | 13,550 | 13,550 | 3,986 | 23,580 | - | ||||||||||||||||||||||||
Income CRE | 11,821 | 13,540 | 783 | 12,097 | 102 | ||||||||||||||||||||||||
Residential CRE | 6,380 | 11,675 | 712 | 6,647 | 63 | ||||||||||||||||||||||||
Total | $ | 59,474 | $ | 72,676 | $ | 6,682 | $ | 64,556 | $ | 244 | |||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
HELOC | $ | 73,287 | $ | 74,730 | $ | 17,080 | $ | 71,792 | $ | 434 | |||||||||||||||||||
R/E installment loans | 73,738 | 74,645 | 26,573 | 73,015 | 269 | ||||||||||||||||||||||||
Permanent mortgage | 113,989 | 127,958 | 19,211 | 113,493 | 723 | ||||||||||||||||||||||||
Credit card & other | 772 | 772 | 236 | 658 | 11 | ||||||||||||||||||||||||
Total | $ | 261,786 | $ | 278,105 | $ | 63,100 | $ | 258,958 | $ | 1,437 | |||||||||||||||||||
Total commercial | $ | 82,104 | $ | 104,853 | $ | 6,682 | $ | 96,696 | $ | 244 | |||||||||||||||||||
Total retail | $ | 296,191 | $ | 340,266 | $ | 63,100 | $ | 294,308 | $ | 1,437 | |||||||||||||||||||
Total impaired loans | $ | 378,295 | $ | 445,119 | $ | 69,782 | $ | 391,004 | $ | 1,681 | |||||||||||||||||||
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 March 31, 2015 and 2014. | ||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||
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 | $ | 446,725 | $ | - | $ | - | $ | 605 | $ | 59 | $ | 447,389 | 4 | % | $ | 75 | |||||||||||||
2 | 550,069 | - | - | 1,896 | 233 | 552,198 | 5 | 173 | |||||||||||||||||||||
3 | 528,347 | 276,653 | - | 63,112 | 261 | 868,373 | 8 | 228 | |||||||||||||||||||||
4 | 663,213 | 235,434 | - | 64,020 | 229 | 962,896 | 9 | 435 | |||||||||||||||||||||
5 | 1,050,800 | 384,418 | - | 253,658 | 1,840 | 1,690,716 | 15 | 2,743 | |||||||||||||||||||||
6 | 1,111,069 | 498,752 | - | 213,787 | 5,333 | 1,828,941 | 17 | 5,488 | |||||||||||||||||||||
7 | 1,278,125 | 192,154 | - | 231,551 | 14,316 | 1,716,146 | 16 | 9,169 | |||||||||||||||||||||
8 | 735,695 | 27,813 | - | 173,744 | 518 | 937,770 | 9 | 9,786 | |||||||||||||||||||||
9 | 474,912 | 26,448 | - | 131,893 | 922 | 634,175 | 6 | 8,642 | |||||||||||||||||||||
10 | 228,176 | - | - | 26,641 | 165 | 254,982 | 2 | 4,811 | |||||||||||||||||||||
11 | 209,639 | - | - | 27,255 | 946 | 237,840 | 2 | 5,783 | |||||||||||||||||||||
12 | 93,055 | - | - | 29,205 | 493 | 122,753 | 1 | 4,103 | |||||||||||||||||||||
13 | 114,775 | - | 325,382 | 4,530 | 1,076 | 445,763 | 4 | 4,989 | |||||||||||||||||||||
14,15,16 | 129,146 | - | - | 31,015 | 3,641 | 163,802 | 1 | 19,657 | |||||||||||||||||||||
Collectively evaluated for impairment | 7,613,746 | 1,641,672 | 325,382 | 1,252,912 | 30,032 | 10,863,744 | 99 | 76,082 | |||||||||||||||||||||
Individually evaluated for impairment | 39,882 | - | 12,815 | 10,904 | 1,624 | 65,225 | 1 | 6,630 | |||||||||||||||||||||
Purchased credit-impaired loans | 4,858 | - | - | 23,696 | 1,729 | 30,283 | - | 2,605 | |||||||||||||||||||||
Total commercial loans | $ | 7,658,486 | $ | 1,641,672 | $ | 338,197 | $ | 1,287,512 | $ | 33,385 | $ | 10,959,252 | 100 | % | $ | 85,317 | |||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
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 | $ | 233,362 | $ | - | $ | - | $ | - | $ | - | $ | 233,362 | 3 | % | $ | 90 | |||||||||||||
2 | 218,944 | - | - | 1,719 | - | 220,663 | 2 | 88 | |||||||||||||||||||||
3 | 225,715 | - | - | 4,639 | 82 | 230,436 | 3 | 199 | |||||||||||||||||||||
4 | 367,591 | - | - | 13,148 | 215 | 380,954 | 4 | 487 | |||||||||||||||||||||
5 | 778,522 | - | - | 96,447 | 5,835 | 880,804 | 10 | 2,348 | |||||||||||||||||||||
6 | 947,462 | 69,207 | - | 196,101 | 5,815 | 1,218,585 | 14 | 1,743 | |||||||||||||||||||||
7 | 1,081,770 | 159,207 | - | 249,317 | 6,413 | 1,496,707 | 16 | 2,698 | |||||||||||||||||||||
8 | 936,597 | 301,197 | - | 224,339 | 52 | 1,462,185 | 16 | 4,053 | |||||||||||||||||||||
9 | 662,311 | 115,936 | - | 90,336 | 1,379 | 869,962 | 10 | 7,392 | |||||||||||||||||||||
10 | 391,737 | 58,205 | - | 61,584 | 1,834 | 513,360 | 6 | 6,180 | |||||||||||||||||||||
11 | 392,249 | 5,659 | - | 30,402 | 1,816 | 430,126 | 5 | 9,704 | |||||||||||||||||||||
12 | 119,196 | - | - | 33,142 | 1,732 | 154,070 | 2 | 2,403 | |||||||||||||||||||||
13 | 152,035 | - | 326,158 | 12,262 | 2,180 | 492,635 | 6 | 7,968 | |||||||||||||||||||||
14,15,16 | 138,680 | 141 | 9,385 | 39,257 | 6,783 | 194,246 | 2 | 34,332 | |||||||||||||||||||||
Collectively evaluated for impairment | 6,646,171 | 709,552 | 335,543 | 1,052,693 | 34,136 | 8,778,095 | 99 | 79,685 | |||||||||||||||||||||
Individually evaluated for impairment | 41,853 | - | 13,115 | 20,321 | 6,380 | 81,669 | 1 | 6,682 | |||||||||||||||||||||
Total commercial loans(b) | $ | 6,688,024 | $ | 709,552 | $ | 348,658 | $ | 1,073,014 | $ | 40,516 | $ | 8,859,764 | 100 | % | $ | 86,367 | |||||||||||||
Balances as of March 31, 2015 and 2014, presented net of $26.2 million and $26.6 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". | |||||||||||||||||||||||||||||
March 31, 2014, excludes PCI loans amounting to $45.6 million ($1.9 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 March 31, 2015 and 2014: | ||||||||||||||||||||||||||||
HELOC | |||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||||||||||||||
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 | $ | 51,626 | 707 | 700 | $ | 73,926 | 710 | 703 | |||||||||||||||||||||
2003 | 95,043 | 721 | 707 | 130,144 | 723 | 709 | |||||||||||||||||||||||
2004 | 258,974 | 723 | 707 | 375,252 | 726 | 715 | |||||||||||||||||||||||
2005 | 421,315 | 731 | 720 | 517,957 | 732 | 721 | |||||||||||||||||||||||
2006 | 321,702 | 739 | 726 | 375,022 | 740 | 727 | |||||||||||||||||||||||
2007 | 342,531 | 744 | 728 | 396,409 | 743 | 728 | |||||||||||||||||||||||
2008 | 188,111 | 753 | 748 | 217,360 | 753 | 748 | |||||||||||||||||||||||
2009 | 97,279 | 751 | 742 | 113,703 | 751 | 746 | |||||||||||||||||||||||
2010 | 92,777 | 753 | 749 | 110,958 | 753 | 748 | |||||||||||||||||||||||
2011 | 92,484 | 758 | 753 | 110,815 | 758 | 754 | |||||||||||||||||||||||
2012 | 112,955 | 760 | 758 | 133,618 | 759 | 759 | |||||||||||||||||||||||
2013 | 142,772 | 757 | 756 | 169,429 | 760 | 757 | |||||||||||||||||||||||
2014 | 121,991 | 762 | 763 | 23,224 | 756 | 755 | |||||||||||||||||||||||
2015 | 25,250 | 759 | 756 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,364,810 | 742 | 732 | $ | 2,747,817 | 741 | 731 | |||||||||||||||||||||
Period-End Balances And Various Asset Quality Attributes By Origination Vintage For The Real Estate Installment Loans | |||||||||||||||||||||||||||||
R/E Installment Loans | 31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||
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 | $ | 11,786 | 679 | 687 | $ | 21,069 | 681 | 687 | |||||||||||||||||||||
2003 | 44,729 | 713 | 721 | 68,747 | 715 | 724 | |||||||||||||||||||||||
2004 | 37,944 | 699 | 695 | 51,187 | 701 | 699 | |||||||||||||||||||||||
2005 | 115,702 | 715 | 710 | 150,669 | 716 | 711 | |||||||||||||||||||||||
2006 | 126,225 | 712 | 702 | 165,515 | 715 | 700 | |||||||||||||||||||||||
2007 | 187,510 | 722 | 707 | 236,727 | 724 | 708 | |||||||||||||||||||||||
2008 | 60,538 | 718 | 712 | 80,067 | 722 | 718 | |||||||||||||||||||||||
2009 | 26,812 | 737 | 727 | 37,048 | 742 | 733 | |||||||||||||||||||||||
2010 | 95,017 | 747 | 756 | 120,128 | 748 | 754 | |||||||||||||||||||||||
2011 | 267,079 | 760 | 759 | 323,992 | 760 | 759 | |||||||||||||||||||||||
2012 | 586,729 | 764 | 765 | 675,368 | 764 | 765 | |||||||||||||||||||||||
2013 | 460,196 | 756 | 758 | 509,103 | 757 | 753 | |||||||||||||||||||||||
2014 | 450,765 | 756 | 754 | 70,577 | 756 | 750 | |||||||||||||||||||||||
2015 | 86,975 | 757 | 758 | - | - | - | |||||||||||||||||||||||
Total | $ | 2,558,007 | 749 | 747 | $ | 2,510,197 | 746 | 743 | |||||||||||||||||||||
Period-End Balances And Various Asset Quality Attributes By Origination Vintage For Permanent Mortgage Classes Of Loans | |||||||||||||||||||||||||||||
Permanent Mortgage | 31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||
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 | $ | 136,848 | 723 | 718 | $ | 178,765 | 725 | 728 | |||||||||||||||||||||
2004 | 16,484 | 712 | 715 | 21,398 | 712 | 691 | |||||||||||||||||||||||
2005 | 32,563 | 736 | 732 | 38,586 | 737 | 715 | |||||||||||||||||||||||
2006 | 59,636 | 732 | 726 | 72,413 | 728 | 706 | |||||||||||||||||||||||
2007 | 183,359 | 733 | 719 | 213,580 | 733 | 711 | |||||||||||||||||||||||
2008 | 82,818 | 741 | 712 | 97,500 | 741 | 712 | |||||||||||||||||||||||
Total | $ | 511,708 | 730 | 717 | $ | 622,242 | 730 | 712 | |||||||||||||||||||||
Accruing And Non-Accruing Loans By Class | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on March 31, 2015: | |||||||||||||||||||||||||||||
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 | $ | 7,627,209 | $ | 5,291 | $ | 251 | $ | $7,632,751 | $ | 1,441 | $ | 10,445 | $ | 8,991 | $ | $20,877 | $ | $7,653,628 | |||||||||||
Loans to mortgage companies | 1,640,638 | 915 | - | 1,641,553 | - | - | 119 | 119 | 1,641,672 | ||||||||||||||||||||
TRUPS (a) | 325,382 | - | - | 325,382 | - | - | 12,815 | 12,815 | 338,197 | ||||||||||||||||||||
Purchased credit-impaired loans | 4,192 | - | 666 | 4,858 | - | - | - | - | 4,858 | ||||||||||||||||||||
Total commercial (C&I) | 9,597,421 | 6,206 | 917 | 9,604,544 | 1,441 | 10,445 | 21,925 | 33,811 | 9,638,355 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,249,793 | 687 | - | 1,250,480 | 1,454 | 2,817 | 9,065 | 13,336 | 1,263,816 | ||||||||||||||||||||
Residential CRE | 31,591 | 65 | - | 31,656 | - | - | - | - | 31,656 | ||||||||||||||||||||
Purchased credit-impaired loans | 21,817 | - | 3,608 | 25,425 | - | - | - | - | 25,425 | ||||||||||||||||||||
Total commercial real estate | 1,303,201 | 752 | 3,608 | 1,307,561 | 1,454 | 2,817 | 9,065 | 13,336 | 1,320,897 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,250,415 | 20,698 | 10,362 | 2,281,475 | 66,743 | 5,075 | 11,517 | 83,335 | 2,364,810 | ||||||||||||||||||||
R/E installment loans | 2,502,363 | 11,975 | 5,204 | 2,519,542 | 27,748 | 2,576 | 5,741 | 36,065 | 2,555,607 | ||||||||||||||||||||
Purchased credit-impaired loans | 2,308 | 4 | 88 | 2,400 | - | - | - | - | 2,400 | ||||||||||||||||||||
Total consumer real estate | 4,755,086 | 32,677 | 15,654 | 4,803,417 | 94,491 | 7,651 | 17,258 | 119,400 | 4,922,817 | ||||||||||||||||||||
Permanent mortgage | 464,677 | 8,019 | 6,085 | 478,781 | 16,710 | 2,752 | 13,465 | 32,927 | 511,708 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 177,042 | 1,467 | 1,440 | 179,949 | - | - | - | - | 179,949 | ||||||||||||||||||||
Other | 156,478 | 916 | 239 | 157,633 | - | - | 755 | 755 | 158,388 | ||||||||||||||||||||
Purchased credit-impaired loans | 9 | - | - | 9 | - | - | - | - | 9 | ||||||||||||||||||||
Total credit card & other | 333,529 | 2,383 | 1,679 | 337,591 | - | - | 755 | 755 | 338,346 | ||||||||||||||||||||
Total loans, net of unearned | $ | 16,453,914 | $ | 50,037 | $ | $27,943 | $ | $16,531,894 | $114,096 | $ | 23,665 | $ | $62,468 | $ | $200,229 | $ | $16,732,123 | ||||||||||||
Total TRUPS includes LOCOM valuation allowance of $26.2 million. | |||||||||||||||||||||||||||||
The following table reflects accruing and non-accruing loans by class on March 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 | $ | 6,629,412 | $ | 19,049 | $ | 452 | $ | 6,648,913 | $ | 16,332 | $ | 3,341 | $ | 19,438 | $ | 39,111 | $ | 6,688,024 | |||||||||||
Loans to mortgage companies | 709,339 | 72 | - | 709,411 | - | - | 141 | 141 | 709,552 | ||||||||||||||||||||
TRUPS (a) | 335,543 | - | - | 335,543 | - | - | 13,115 | 13,115 | 348,658 | ||||||||||||||||||||
Purchased credit-impaired loans | 5,291 | - | 1,470 | 6,761 | - | - | - | - | 6,761 | ||||||||||||||||||||
Total commercial (C&I) | 7,679,585 | 19,121 | 1,922 | 7,700,628 | 16,332 | 3,341 | 32,694 | 52,367 | 7,752,995 | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | 1,049,843 | 10,955 | - | 1,060,798 | 1,814 | 330 | 10,072 | 12,216 | 1,073,014 | ||||||||||||||||||||
Residential CRE | 37,516 | 282 | - | 37,798 | - | - | 2,718 | 2,718 | 40,516 | ||||||||||||||||||||
Purchased credit-impaired loans | 31,515 | 5,830 | 1,543 | 38,888 | - | - | - | - | 38,888 | ||||||||||||||||||||
Total commercial real estate | 1,118,874 | 17,067 | 1,543 | 1,137,484 | 1,814 | 330 | 12,790 | 14,934 | 1,152,418 | ||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 2,624,763 | 23,734 | 12,459 | 2,660,956 | 67,361 | 5,395 | 14,105 | 86,861 | 2,747,817 | ||||||||||||||||||||
R/E installment loans | 2,447,448 | 10,812 | 6,074 | 2,464,334 | 35,069 | 3,486 | 6,605 | 45,160 | 2,509,494 | ||||||||||||||||||||
Purchased credit-impaired loans | 703 | - | - | 703 | - | - | - | - | 703 | ||||||||||||||||||||
Total consumer real estate | 5,072,914 | 34,546 | 18,533 | 5,125,993 | 102,430 | 8,881 | 20,710 | 132,021 | 5,258,014 | ||||||||||||||||||||
Permanent mortgage | 573,095 | 6,101 | 2,845 | 582,041 | 15,924 | 2,048 | 22,229 | 40,201 | 622,242 | ||||||||||||||||||||
Credit card & other | |||||||||||||||||||||||||||||
Credit card | 180,011 | 1,810 | 1,622 | 183,443 | - | - | - | - | 183,443 | ||||||||||||||||||||
Other | 148,062 | 761 | 130 | 148,953 | 1,396 | - | - | 1,396 | 150,349 | ||||||||||||||||||||
Total credit card & other | 328,073 | 2,571 | 1,752 | 332,396 | 1,396 | - | - | 1,396 | 333,792 | ||||||||||||||||||||
Total loans, net of unearned | $ | 14,772,541 | $ | 79,406 | $ | 26,595 | $ | 14,878,542 | $ | 137,896 | $ | 14,600 | $ | 88,423 | $ | 240,919 | $ | 15,119,461 | |||||||||||
Total TRUPS includes LOCOM valuation allowance of $26.6 million. | |||||||||||||||||||||||||||||
Schedule Of Troubled Debt Restructurings Occurring During The Year | |||||||||||||||||||||||||||||
The following table reflects portfolio loans that were classified as TDRs during the three months ended March 31, 2015 and 2014: | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
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 | 2 | $ | 1,388 | $ | 1,325 | - | $ | - | $ | - | |||||||||||||||||||
Total commercial (C&I) | 2 | 1,388 | 1,325 | - | - | - | |||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 37 | 3,727 | 3,707 | 67 | 5,790 | 5,768 | |||||||||||||||||||||||
R/E installment loans | 16 | 1,354 | 1,377 | 72 | 5,143 | 5,102 | |||||||||||||||||||||||
Total consumer real estate | 53 | 5,081 | 5,084 | 139 | 10,933 | 10,870 | |||||||||||||||||||||||
Permanent mortgage | 2 | 321 | 321 | 12 | 4,593 | 4,087 | |||||||||||||||||||||||
Credit card & other | 6 | 28 | 27 | 20 | 87 | 85 | |||||||||||||||||||||||
Total troubled debt restructurings | 63 | $ | 6,818 | $ | 6,757 | 171 | $ | 15,613 | $ | 15,042 | |||||||||||||||||||
Schedule Of Troubled Debt Restructurings Within The Previous 12 Months | |||||||||||||||||||||||||||||
The following table presents TDRs which re-defaulted during the three months ended March 31, 2015 and 2014, 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 days past due. | |||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
(Dollars in thousands) | Number | Investment | Number | Investment | |||||||||||||||||||||||||
Commercial (C&I): | |||||||||||||||||||||||||||||
General C&I | - | $ | - | 4 | $ | 512 | |||||||||||||||||||||||
Total commercial (C&I) | - | - | 4 | 512 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||
Income CRE | - | - | 2 | 389 | |||||||||||||||||||||||||
Total commercial real estate | - | - | 2 | 389 | |||||||||||||||||||||||||
Consumer real estate: | |||||||||||||||||||||||||||||
HELOC | 1 | 30 | 4 | 307 | |||||||||||||||||||||||||
R/E installment loans | 1 | 86 | 3 | 118 | |||||||||||||||||||||||||
Total consumer real estate | 2 | 116 | 7 | 425 | |||||||||||||||||||||||||
Credit card & other | 1 | 3 | 2 | 4 | |||||||||||||||||||||||||
Total troubled debt restructurings | 3 | $ | 119 | 15 | $ | 1,330 |
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
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 the three months ended March 31, 2015 and 2014: | |||||||||||||||||||
Commercial | Consumer | Permanent | Credit Card | |||||||||||||||||
(Dollars in thousands) | C&I | Real Estate | Real Estate | Mortgage | and Other | Total | ||||||||||||||
Balance as of January 1, 2014 | $ | 86,446 | $ | 10,603 | $ | 126,785 | $ | 22,491 | $ | 7,484 | $ | 253,809 | ||||||||
Charge-offs | -5,807 | -627 | -12,264 | -2,218 | -3,776 | -24,692 | ||||||||||||||
Recoveries | 1,602 | 279 | 4,974 | 578 | 696 | 8,129 | ||||||||||||||
Provision | -9,509 | 5,268 | 3,914 | 1,670 | 8,657 | 10,000 | ||||||||||||||
Balance as of March 31, 2014 | 72,732 | 15,523 | 123,409 | 22,521 | 13,061 | 247,246 | ||||||||||||||
Allowance - individually evaluated for impairment | 5,187 | 1,495 | 43,653 | 19,211 | 236 | 69,782 | ||||||||||||||
Allowance - collectively evaluated for impairment | 67,477 | 12,207 | 79,746 | 3,310 | 12,825 | 175,565 | ||||||||||||||
Allowance - purchased credit impaired loans | 68 | 1,821 | 10 | - | - | 1,899 | ||||||||||||||
Loans, net of unearned as of March 31, 2014: | ||||||||||||||||||||
Individually evaluated for impairment | 54,968 | 26,701 | 173,577 | 121,843 | 772 | 377,861 | ||||||||||||||
Collectively evaluated for impairment | 7,691,266 | 1,086,829 | 5,083,734 | 500,399 | 333,020 | 14,695,248 | ||||||||||||||
Purchased credit impaired loans | 6,761 | 38,888 | 703 | - | - | 46,352 | ||||||||||||||
Total loans, net of unearned | $ | 7,752,995 | $ | 1,152,418 | $ | 5,258,014 | $ | 622,242 | $ | 333,792 | $ | 15,119,461 | ||||||||
Balance as of January 1, 2015 | $ | 67,011 | $ | 18,574 | $ | 113,011 | $ | 19,122 | $ | 14,730 | $ | 232,448 | ||||||||
Charge-offs | -3,555 | -787 | -8,537 | -1,184 | -3,936 | -17,999 | ||||||||||||||
Recoveries | 1,953 | 691 | 4,724 | 618 | 893 | 8,879 | ||||||||||||||
Provision | 2,243 | -813 | 47 | 1,630 | 1,893 | 5,000 | ||||||||||||||
Balance as of March 31, 2015 | 67,652 | 17,665 | 109,245 | 20,186 | 13,580 | 228,328 | ||||||||||||||
Allowance - individually evaluated for impairment | 6,019 | 611 | 41,737 | 17,766 | 228 | 66,361 | ||||||||||||||
Allowance - collectively evaluated for impairment | 61,440 | 14,642 | 67,018 | 2,420 | 13,352 | 158,872 | ||||||||||||||
Allowance - purchased credit impaired loans | 193 | 2,412 | 490 | - | - | 3,095 | ||||||||||||||
Loans, net of unearned as of March 31, 2015: | ||||||||||||||||||||
Individually evaluated for impairment | 52,697 | 12,528 | 171,611 | 110,838 | 484 | 348,158 | ||||||||||||||
Collectively evaluated for impairment | 9,580,800 | 1,282,944 | 4,748,806 | 400,870 | 337,853 | 16,351,273 | ||||||||||||||
Purchased credit impaired loans | 4,858 | 25,425 | 2,400 | - | 9 | 32,692 | ||||||||||||||
Total loans, net of unearned | $ | 9,638,355 | $ | 1,320,897 | $ | 4,922,817 | $ | 511,708 | $ | 338,346 | $ | 16,732,123 | ||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
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 Condensed Statements of Condition: | ||||||||||||||||||
Other | |||||||||||||||||||
Intangible | |||||||||||||||||||
(Dollars in thousands) | Goodwill | Assets (a) | |||||||||||||||||
December 31, 2013 | $ | 141,943 | $ | 21,988 | |||||||||||||||
Amortization expense | - | -981 | |||||||||||||||||
31-Mar-14 | $ | 141,943 | $ | 21,007 | |||||||||||||||
December 31, 2014 | $ | 145,932 | $ | 29,518 | |||||||||||||||
Amortization expense | - | -1,298 | |||||||||||||||||
March 31, 2015 | $ | 145,932 | $ | 28,220 | |||||||||||||||
(a) Represents customer lists, acquired contracts, core deposit intangibles, and covenants not to compete. | |||||||||||||||||||
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 Condensed Statements of Condition through March 31, 2015. 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 | $ | 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 | - | - | - | - | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2014 | - | - | - | - | |||||||||||||||
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-Mar-14 | $ | - | $ | 43,939 | $ | 98,004 | $ | 141,943 | |||||||||||
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 | |||||||||||
Additions | - | - | - | - | |||||||||||||||
Impairments | - | - | - | - | |||||||||||||||
Divestitures | - | - | - | - | |||||||||||||||
Net change in goodwill during 2015 | - | - | - | - | |||||||||||||||
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-Mar-15 | $ | - | $ | 47,928 | $ | 98,004 | $ | 145,932 | |||||||||||
Other_Income_And_Other_Expense1
Other Income And Other Expense (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
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 Condensed Statements of Income: | |||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(Dollars in thousands) | 2015 | 2014 | ||||||
All other income and commissions: | ||||||||
ATM interchange fees | $ | 2,761 | $ | 2,497 | ||||
Electronic banking fees | 1,428 | 1,534 | ||||||
Letter of credit fees | 1,123 | 1,663 | ||||||
Deferred compensation (a) | 1,033 | 657 | ||||||
Gain/(loss) on extinguishment of debt | - | -4,350 | ||||||
Other | 3,125 | 2,893 | ||||||
Total | $ | 9,470 | $ | 4,894 | ||||
All other expense: | ||||||||
Litigation and regulatory matters | $ | 162,500 | $ | 90 | ||||
Other insurance and taxes | 3,329 | 3,060 | ||||||
Travel and entertainment | 1,614 | 1,824 | ||||||
Customer relations | 1,314 | 1,243 | ||||||
Employee training and dues | 1,132 | 866 | ||||||
Supplies | 927 | 1,116 | ||||||
Tax credit investments | 395 | 325 | ||||||
Miscellaneous loan costs | 361 | 714 | ||||||
Other | 8,423 | 9,245 | ||||||
Total | $ | 179,995 | $ | 18,483 | ||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | ||||||||
(a) Deferred compensation market value adjustments are mirrored by adjustments to employee compensation, incentives, and benefits expense. |
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Income/(Loss) (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Table Text Block Supplement [Abstract] | ||||||||||||||
Schedule Of Changes In Accumulated Other Comprehensive Income Balances By Component Net Of Tax | Note 8 – Changes in Accumulated Other Comprehensive Income Balances | |||||||||||||
The following table provides the changes in accumulated other comprehensive income by component, net of tax, for the three months ended March 31, 2015 and 2014: | ||||||||||||||
(Dollars in thousands, unless otherwise noted) | Unrealized Gain/(Loss) On Securities Available-For-Sale | Pension and Post Retirement Plans | Total | |||||||||||
Balance as of December 31, 2014 | $ | 18,581 | $ | -206,827 | $ | -188,246 | ||||||||
Other comprehensive income before reclassifications, Net of tax expense of $11.3 million for unrealized gain/(loss) on securities available-for-sale | 18,004 | - | 18,004 | |||||||||||
Amounts reclassified from accumulated other comprehensive income, Net of tax expense of $.7 million for pension and post retirement plans | - | 1,083 | 1,083 | |||||||||||
Net current period other comprehensive income, Net of tax expense of $11.3 million and $.7 million for unrealized gain/(loss) on securities available-for-sale and pension and post retirement plans, respectively | 18,004 | 1,083 | 19,087 | |||||||||||
Balance as of March 31, 2015 | $ | 36,585 | $ | -205,744 | $ | -169,159 | ||||||||
Balance as of December 31, 2013 | $ | -11,241 | $ | -138,768 | $ | -150,009 | ||||||||
Other comprehensive income before reclassifications, Net of tax expense of $5.9 million for unrealized gain/(loss) on securities available-for-sale | 9,479 | - | 9,479 | |||||||||||
Amounts reclassified from accumulated other comprehensive income, Net of tax expense of $.3 million for pension and post retirement plans | - | 411 | 411 | |||||||||||
Net current period other comprehensive income, Net of tax expense of $5.9 million and $.3 million for unrealized gain/(loss) on securities available-for-sale and pension and post retirement plans, respectively | 9,479 | 411 | 9,890 | |||||||||||
Balance as of March 31, 2014 | $ | -1,762 | $ | -138,357 | $ | -140,119 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Earnings Per Share [Abstract] | |||||||
Schedule of Reconciliation of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders | The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding: | ||||||
Three Months Ended | |||||||
31-Mar | |||||||
(Dollars and shares in thousands, except per share data) | 2015 | 2014 | |||||
Net income/(loss) | $ | -72,405 | $ | 49,979 | |||
Net income attributable to noncontrolling interest | 2,758 | 2,813 | |||||
Net income/(loss) attributable to controlling interest | -75,163 | 47,166 | |||||
Preferred stock dividends | 1,550 | 1,550 | |||||
Net income/(loss) available to common shareholders | $ | -76,713 | $ | 45,616 | |||
Weighted average common shares outstanding - basic | 232,816 | 235,183 | |||||
Effect of dilutive securities | - | 2,218 | |||||
Weighted average common shares outstanding - diluted | 232,816 | 237,401 | |||||
Net income/(loss) per share available to common shareholders | $ | -0.33 | $ | 0.19 | |||
Diluted income/(loss) per share available to common shareholders | $ | -0.33 | $ | 0.19 | |||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. |
Contingencies_And_Other_Disclo1
Contingencies And Other Disclosures (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
[CommitmentsAndContingenciesDisclosureAbstract] | ||||||||
Schedule Of Original Purchase And Ending Balance Amount Of Investments Subject To Litigation | (Dollars in thousands) | Alt-A | Jumbo | |||||
Vintage | ||||||||
Original Purchase Price: | ||||||||
2005 | $ | 202,417 | $ | - | ||||
2006 | 325,613 | 32,540 | ||||||
2007 | 199,012 | 50,000 | ||||||
Total | $ | 727,042 | $ | 82,540 | ||||
Ending Balance per the March 25, 2015, trust statements: | ||||||||
2005 | $ | 49,500 | $ | - | ||||
2006 | 85,171 | 7,769 | ||||||
2007 | 82,401 | 14,276 | ||||||
Total | $ | 217,072 | $ | 22,045 |
Pension_Savings_And_Other_Empl1
Pension, Savings, And Other Employee Benefits (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Pension, Savings, And Other Employee Benefits [Abstract] | ||||||||||||||||
Schedule Of Components Of Net Periodic Benefit Cost | ||||||||||||||||
The components of net periodic benefit cost for the three months ended March 31 are as follows: | ||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||
(Dollars in thousands) | 2015 | 2014 | 2015 | 2014 | ||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | 10 | $ | 17 | $ | 37 | $ | 55 | ||||||||
Interest cost | 9,020 | 8,660 | 360 | 458 | ||||||||||||
Expected return on plan assets | -9,392 | -10,018 | -241 | -255 | ||||||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost/(credit) | 83 | 87 | -291 | -291 | ||||||||||||
Actuarial (gain)/loss | 2,396 | 1,635 | -244 | -126 | ||||||||||||
Net periodic benefit cost | $ | 2,117 | $ | 381 | $ | -379 | $ | -159 |
Business_Segment_Information_T
Business Segment Information (Tables) | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Business Segment Information [Abstract] | |||||||
Amounts Of Consolidated Revenue, Expense, Tax And Assets | Three Months Ended | ||||||
31-Mar | |||||||
(Dollars in thousands) | 2015 | 2014 | |||||
Consolidated | |||||||
Net interest income | $ | 156,866 | $ | 152,359 | |||
Provision for loan losses | 5,000 | 10,000 | |||||
Noninterest income | 129,689 | 145,730 | |||||
Noninterest expense | 376,221 | 218,044 | |||||
Income/(loss) before income taxes | -94,666 | 70,045 | |||||
Provision/(benefit) for income taxes | -22,261 | 20,066 | |||||
Net income/(loss) | $ | -72,405 | $ | 49,979 | |||
Average assets | $ | 25,644,604 | $ | 23,910,853 | |||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | |||||||
Three Months Ended | |||||||
31-Mar | |||||||
(Dollars in thousands) | 2015 | 2014 | |||||
Regional Banking | |||||||
Net interest income | $ | 154,409 | $ | 142,026 | |||
Provision/(provision credit) for loan losses | 4,915 | 12,990 | |||||
Noninterest income | 60,204 | 59,992 | |||||
Noninterest expense | 135,780 | 132,543 | |||||
Income/(loss) before income taxes | 73,918 | 56,485 | |||||
Provision/(benefit) for income taxes | 26,381 | 20,083 | |||||
Net income/(loss) | $ | 47,537 | $ | 36,402 | |||
Average assets | $ | 14,228,116 | $ | 12,615,394 | |||
Capital Markets | |||||||
Net interest income | $ | 4,323 | $ | 3,476 | |||
Noninterest income | 61,565 | 56,759 | |||||
Noninterest expense | 54,683 | 52,598 | |||||
Income/(loss) before income taxes | 11,205 | 7,637 | |||||
Provision/(benefit) for income taxes | 4,167 | 2,843 | |||||
Net income/(loss) | $ | 7,038 | $ | 4,794 | |||
Average assets | $ | 2,446,267 | $ | 2,038,368 | |||
Corporate | |||||||
Net interest income/(expense) | $ | -16,084 | $ | -9,923 | |||
Noninterest income | 5,385 | 13,215 | |||||
Noninterest expense | 14,169 | 17,327 | |||||
Income/(loss) before income taxes | -24,868 | -14,035 | |||||
Provision/(benefit) for income taxes | -11,640 | -10,628 | |||||
Net income/(loss) | $ | -13,228 | $ | -3,407 | |||
Average assets | $ | 6,414,745 | $ | 5,852,792 | |||
Non-Strategic | |||||||
Net interest income | $ | 14,218 | $ | 16,780 | |||
Provision/(provision credit) for loan losses | 85 | -2,990 | |||||
Noninterest income | 2,535 | 15,764 | |||||
Noninterest expense | 171,589 | 15,576 | |||||
Income/(loss) before income taxes | -154,921 | 19,958 | |||||
Provision/(benefit) for income taxes | -41,169 | 7,768 | |||||
Net income/(loss) | $ | -113,752 | $ | 12,190 | |||
Average assets | $ | 2,555,476 | $ | 3,404,299 | |||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01,"Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. |
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Variable Interest Entities [Abstract] | ||||||||||||||||||||
Summary Of VIEs Consolidated By FHN | The following table summarizes VIEs consolidated by FHN as of March 31, 2015 and 2014: | |||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||
On-Balance Sheet Consumer Loan Securitization | Rabbi Trusts Used for Deferred Compensation Plans | On-Balance Sheet Consumer Loan Securitization | Rabbi Trusts Used for Deferred Compensation Plans | |||||||||||||||||
(Dollars in thousands) | Carrying Value | Carrying Value | Carrying Value | Carrying Value | ||||||||||||||||
Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 872 | N/A | $ | - | N/A | ||||||||||||||
Loans, net of unearned income | 71,565 | N/A | 86,685 | N/A | ||||||||||||||||
Less: Allowance for loan losses | 341 | N/A | 1,954 | N/A | ||||||||||||||||
Total net loans | 71,224 | N/A | 84,731 | N/A | ||||||||||||||||
Other assets | 242 | $ | 68,356 | 888 | $ | 64,217 | ||||||||||||||
Total assets | $ | 72,338 | $ | 68,356 | $ | 85,619 | $ | 64,217 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Term borrowings | $ | 60,914 | N/A | $ | 77,119 | N/A | ||||||||||||||
Other liabilities | 4 | $ | 52,349 | 5 | $ | 50,423 | ||||||||||||||
Total liabilities | $ | 60,918 | $ | 52,349 | $ | 77,124 | $ | 50,423 | ||||||||||||
Summary of the Impact of Qualifying LIHTC Investments | Expenses for non-qualifying LIHTC investments were not material during first quarter 2015 and 2014. The following table summarizes the impact of these qualifying LIHTC investments on the Provision/(benefit) for income taxes on the Consolidated Condensed Statements of Income for the periods ended March 31, 2015 and 2014. | |||||||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||||||
(Dollars in thousands) | 31-Mar-15 | 31-Mar-14 | ||||||||||||||||||
Provision/(benefit) for income taxes: | ||||||||||||||||||||
Amortization of qualifying LIHTC investments | $ | 2,180 | $ | 2,470 | ||||||||||||||||
Low income housing tax credits | -2,363 | -2,462 | ||||||||||||||||||
Other tax benefits related to qualifying LIHTC investments | -844 | -1,855 | ||||||||||||||||||
Summary Of VIEs Not Consolidated By FHN | The following table summarizes FHN’s nonconsolidated VIEs as of March 31, 2015: | |||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships | $ | 58,971 | $ | 3,609 | (a) | |||||||||||||||
New market tax credit LLCs (b) (c) | 21,360 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 364,352 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 50,748 | 63,425 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 25,786 | - | (g) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 4,338,653 | - | (h) | |||||||||||||||||
Commercial loan troubled debt restructurings (i) (j) | 39,015 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Maximum loss exposure represents $55.4 million of current investments and $3.6 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. | ||||||||||||||||||||
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 $63.4 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $.7 million classified as MSR related to proprietary and agency residential mortgage securitizations and $5.3 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servicing advances of $19.8 million are classified as Other assets. | ||||||||||||||||||||
Includes $859.7 million classified as Trading securities and $3.5 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $34.8 million of current receivables and $4.2 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 March 31, 2014: | ||||||||||||||||||||
Maximum | Liability | |||||||||||||||||||
(Dollars in thousands) | Loss Exposure | Recognized | Classification | |||||||||||||||||
Type | ||||||||||||||||||||
Low income housing partnerships | $ | 63,409 | $ | 6,472 | (a) | |||||||||||||||
New market tax credit LLCs (b) (c) | 22,492 | - | Other assets | |||||||||||||||||
Small issuer trust preferred holdings (d) | 375,247 | - | Loans, net of unearned income | |||||||||||||||||
On-balance sheet trust preferred securitization | 53,463 | 60,711 | (e) | |||||||||||||||||
Proprietary trust preferred issuances (f) | N/A | 206,186 | Term borrowings | |||||||||||||||||
Proprietary and agency residential mortgage securitizations | 54,559 | - | (g) | |||||||||||||||||
Holdings of agency mortgage-backed securities (d) | 3,861,630 | - | (h) | |||||||||||||||||
Short positions in agency mortgage-backed securities (f) | N/A | 1,586 | Trading liabilities | |||||||||||||||||
Commercial loan troubled debt restructurings (i) (j) | 58,736 | - | Loans, net of unearned income | |||||||||||||||||
Managed discretionary trusts (f) | N/A | N/A | N/A | |||||||||||||||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1—Financial Information for additional information. | ||||||||||||||||||||
Maximum loss exposure represents $56.9 million of current investments and $6.5 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. | ||||||||||||||||||||
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 $60.7 million classified as Term borrowings. | ||||||||||||||||||||
No exposure to loss due to the nature of FHN’s involvement. | ||||||||||||||||||||
Includes $2.4 million classified as MSR related to proprietary and agency residential mortgage securitizations and $6.6 million classified as Trading securities related to proprietary and agency residential mortgage securitizations. Aggregate servicing advances of $45.5 million are classified as Other assets. | ||||||||||||||||||||
Includes $537.3 million classified as Trading securities and $3.3 billion classified as Securities available-for-sale. | ||||||||||||||||||||
Maximum loss exposure represents $57.2 million of current receivables and $1.5 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. | ||||||||||||||||||||
Derivatives_Tables
Derivatives (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Derivatives [Abstract] | ||||||||||||||||||||
Derivatives Associated With Capital Markets Trading Activities | The following tables summarize FHN’s derivatives associated with capital markets trading activities as of March 31, 2015 and 2014: | |||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,675,215 | $ | 83,797 | $ | 2,241 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,675,215 | 2,241 | 83,797 | |||||||||||||||||
Option Contracts Purchased | 12,500 | 60 | - | |||||||||||||||||
Option Contracts Written | 7,500 | - | 12 | |||||||||||||||||
Forwards and Futures Purchased | 3,181,574 | 5,805 | 538 | |||||||||||||||||
Forwards and Futures Sold | 3,511,607 | 1,105 | 7,290 | |||||||||||||||||
31-Mar-14 | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||||||||||
Customer Interest Rate Contracts | $ | 1,775,287 | $ | 76,173 | $ | 7,103 | ||||||||||||||
Offsetting Upstream Interest Rate Contracts | 1,775,287 | 7,103 | 76,173 | |||||||||||||||||
Option Contracts Purchased | 10,000 | 29 | - | |||||||||||||||||
Forwards and Futures Purchased | 2,234,232 | 1,738 | 1,260 | |||||||||||||||||
Forwards and Futures Sold | 2,607,585 | 2,277 | 1,478 | |||||||||||||||||
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 three months ended March 31, 2015 and 2014: | |||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-15 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 682,318 | $ | 30,204 | $ | 307 | $ | 4,243 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 682,318 | 307 | 30,704 | -4,243 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,350,000 | $ | 24,368 | $ | 2,677 | $ | -18,865 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,350,000 | (c) | $ | 18,912 | (d) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-14 | ||||||||||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||||||||||
Customer Interest Rate Contracts (a) | $ | 742,710 | $ | 26,742 | $ | 2,310 | $ | -645 | ||||||||||||
Offsetting Upstream Interest Rate Contracts (a) | 758,882 | 2,310 | 27,242 | 645 | ||||||||||||||||
Debt Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps (b) | $ | 1,254,000 | $ | 50,092 | $ | 16,409 | $ | 389 | ||||||||||||
Hedged Items: | ||||||||||||||||||||
Term Borrowings (b) | N/A | N/A | $ | 1,254,000 | (c) | $ | -389 | (d) | ||||||||||||
Gains/losses included in the Other expense section of the Consolidated Condensed Statements of Income. | ||||||||||||||||||||
Gains/losses included in the All other income and commissions section of the Consolidated Condensed 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 three months ended March 31, 2015 and 2014: | |||||||||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-15 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 703 | $ | 41 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -41 | (c) | ||||||||||||
Gains/(Losses) | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | 31-Mar-14 | ||||||||||||||||
Loan Portfolio Hedging | ||||||||||||||||||||
Hedging Instruments: | ||||||||||||||||||||
Interest Rate Swaps | $ | 6,500 | N/A | $ | 943 | $ | 63 | |||||||||||||
Hedged Items: | ||||||||||||||||||||
Trust Preferred Loans (a) | N/A | $ | 6,500 | (b) | N/A | $ | -63 | (c) | ||||||||||||
Assets included in the Loans, net of unearned income section of the Consolidated Condensed 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. | ||||||||||||||||||||
Derivative Assets And Collateral Received | ||||||||||||||||||||
The following table provides a detail of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of March 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: | ||||||||||||||||||||
2015 (b) | $ | 140,917 | $ | - | $ | 140,917 | $ | -14,053 | $ | -126,820 | $ | 44 | ||||||||
2014 (b) | 162,420 | - | 162,420 | -33,495 | -128,810 | 115 | ||||||||||||||
Included in Derivative Assets on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $7.2 million and $4.0 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. | ||||||||||||||||||||
2015 and 2014 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 Condensed Statements of Condition as of March 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: | ||||||||||||||||||||
2015 (b) | $ | 120,429 | $ | - | $ | 120,429 | $ | -14,053 | $ | -82,440 | $ | 23,936 | ||||||||
2014 (b) | 130,180 | - | 130,180 | -33,495 | -91,331 | 5,354 | ||||||||||||||
Included in Derivative Liabilities on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $12.8 million and $7.7 million, respectively, 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. | ||||||||||||||||||||
2015 and 2014 are comprised entirely of interest rate derivative contracts. | ||||||||||||||||||||
Master_Netting_And_Similar_Agr1
Master Netting And Similar Agreements (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
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 Condensed Statements of Condition and collateral pledged by counterparties as of March 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: | |||||||||||||||||||
2015 | $ | 831,541 | $ | - | $ | 831,541 | $ | -1,581 | $ | -823,157 | $ | 6,803 | |||||||
2014 | 605,276 | - | 605,276 | -5,827 | -591,273 | 8,176 | |||||||||||||
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 Condensed Statements of Condition and collateral pledged by FHN as of March 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: | |||||||||||||||||||
2015 | $ | 309,297 | $ | - | $ | 309,297 | $ | -1,581 | $ | -307,637 | $ | 79 | |||||||
2014 | 411,795 | - | 411,795 | -5,827 | -405,908 | 60 |
Fair_Value_Of_Assets_And_Liabi1
Fair Value Of Assets And Liabilities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
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 March 31, 2015: | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 108,199 | $ | - | $ | 108,199 | |||||||||||||||||
Government agency issued MBS | - | 547,569 | - | 547,569 | |||||||||||||||||||||
Government agency issued CMO | - | 312,086 | - | 312,086 | |||||||||||||||||||||
Other U.S. government agencies | - | 161,317 | - | 161,317 | |||||||||||||||||||||
States and municipalities | - | 57,181 | - | 57,181 | |||||||||||||||||||||
Corporate and other debt | - | 339,560 | 5 | 339,565 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 1,225 | - | 1,225 | |||||||||||||||||||||
Total trading securities - capital markets | - | 1,527,137 | 5 | 1,527,142 | |||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||
Principal only | - | - | 4,013 | 4,013 | |||||||||||||||||||||
Interest only | - | - | 83 | 83 | |||||||||||||||||||||
Subordinated bonds | - | - | 1,225 | 1,225 | |||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 5,321 | 5,321 | |||||||||||||||||||||
Loans held-for-sale | - | - | 26,700 | 26,700 | |||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. treasuries | - | 100 | - | 100 | |||||||||||||||||||||
Government agency issued MBS | - | 762,850 | - | 762,850 | |||||||||||||||||||||
Government agency issued CMO | - | 2,716,147 | - | 2,716,147 | |||||||||||||||||||||
Other U.S. government agencies | - | - | 1,691 | 1,691 | |||||||||||||||||||||
States and municipalities | - | 8,405 | 1,500 | 9,905 | |||||||||||||||||||||
Equity, mutual funds, and other | 25,870 | - | - | 25,870 | |||||||||||||||||||||
Total securities available-for-sale | 25,870 | 3,487,502 | 3,191 | 3,516,563 | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||
Mortgage servicing rights | - | - | 2,342 | 2,342 | |||||||||||||||||||||
Deferred compensation assets | 26,440 | - | - | 26,440 | |||||||||||||||||||||
Derivatives, forwards and futures | 6,910 | - | - | 6,910 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 140,976 | - | 140,976 | |||||||||||||||||||||
Derivatives, other | - | 267 | - | 267 | |||||||||||||||||||||
Total other assets | 33,350 | 141,243 | 2,342 | 176,935 | |||||||||||||||||||||
Total assets | $ | 59,220 | $ | 5,155,882 | $ | 37,559 | $ | 5,252,661 | |||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 514,886 | $ | - | $ | 514,886 | |||||||||||||||||
Government agency issued CMO | - | 1 | - | 1 | |||||||||||||||||||||
Other U.S. government agencies | - | 17,863 | - | 17,863 | |||||||||||||||||||||
States and municipalities | - | 1,643 | - | 1,643 | |||||||||||||||||||||
Corporate and other debt | - | 276,748 | - | 276,748 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 2,000 | - | 2,000 | |||||||||||||||||||||
Total trading liabilities - capital markets | - | 813,141 | - | 813,141 | |||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||
Derivatives, forwards and futures | 7,828 | - | - | 7,828 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 120,440 | - | 120,440 | |||||||||||||||||||||
Derivatives, other | - | - | 5,005 | 5,005 | |||||||||||||||||||||
Total other liabilities | 7,828 | 120,440 | 5,005 | 133,273 | |||||||||||||||||||||
Total liabilities | $ | 7,828 | $ | 933,581 | $ | 5,005 | $ | 946,414 | |||||||||||||||||
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of March 31, 2014: | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Trading securities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 145,136 | $ | - | $ | 145,136 | |||||||||||||||||
Government agency issued MBS | - | 412,994 | - | 412,994 | |||||||||||||||||||||
Government agency issued CMO | - | 124,304 | - | 124,304 | |||||||||||||||||||||
Other U.S. government agencies | - | 86,672 | - | 86,672 | |||||||||||||||||||||
States and municipalities | - | 29,787 | - | 29,787 | |||||||||||||||||||||
Corporate and other debt | - | 382,341 | 5 | 382,346 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 6,922 | - | 6,922 | |||||||||||||||||||||
Total trading securities - capital markets | - | 1,188,156 | 5 | 1,188,161 | |||||||||||||||||||||
Trading securities - mortgage banking: | |||||||||||||||||||||||||
Principal only | - | - | 4,764 | 4,764 | |||||||||||||||||||||
Interest only | - | - | 339 | 339 | |||||||||||||||||||||
Subordinated bonds | - | - | 1,485 | 1,485 | |||||||||||||||||||||
Total trading securities - mortgage banking | - | - | 6,588 | 6,588 | |||||||||||||||||||||
Loans held-for-sale | - | - | 229,219 | 229,219 | |||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. treasuries | - | 39,990 | - | 39,990 | |||||||||||||||||||||
Government agency issued MBS | - | 792,562 | - | 792,562 | |||||||||||||||||||||
Government agency issued CMO | - | 2,531,770 | - | 2,531,770 | |||||||||||||||||||||
Other U.S. government agencies | - | - | 2,182 | 2,182 | |||||||||||||||||||||
States and municipalities | - | 13,655 | 1,500 | 15,155 | |||||||||||||||||||||
Venture capital | - | - | 4,300 | 4,300 | |||||||||||||||||||||
Equity, mutual funds, and other | 26,482 | - | - | 26,482 | |||||||||||||||||||||
Total securities available-for-sale | 26,482 | 3,377,977 | 7,982 | 3,412,441 | |||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||
Mortgage servicing rights | - | - | 4,687 | 4,687 | |||||||||||||||||||||
Deferred compensation assets | 23,335 | - | - | 23,335 | |||||||||||||||||||||
Derivatives, forwards and futures | 4,015 | - | - | 4,015 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 162,450 | - | 162,450 | |||||||||||||||||||||
Total other assets | 27,350 | 162,450 | 4,687 | 194,487 | |||||||||||||||||||||
Total assets | $ | 53,832 | $ | 4,728,583 | $ | 248,481 | $ | 5,030,896 | |||||||||||||||||
Trading liabilities - capital markets: | |||||||||||||||||||||||||
U.S. treasuries | $ | - | $ | 420,574 | $ | - | $ | 420,574 | |||||||||||||||||
Government agency issued MBS | - | 1,083 | - | 1,083 | |||||||||||||||||||||
Government agency issued CMO | - | 503 | - | 503 | |||||||||||||||||||||
Other U.S. government agencies | - | 9,739 | - | 9,739 | |||||||||||||||||||||
States and municipalities | - | 1,436 | - | 1,436 | |||||||||||||||||||||
Corporate and other debt | - | 233,287 | - | 233,287 | |||||||||||||||||||||
Equity, mutual funds, and other | - | 635 | - | 635 | |||||||||||||||||||||
Total trading liabilities - capital markets | - | 667,257 | - | 667,257 | |||||||||||||||||||||
Other liabilities: | |||||||||||||||||||||||||
Derivatives, forwards and futures | 2,738 | - | - | 2,738 | |||||||||||||||||||||
Derivatives, interest rate contracts | - | 130,180 | - | 130,180 | |||||||||||||||||||||
Derivatives, other | - | - | 4,945 | 4,945 | |||||||||||||||||||||
Total other liabilities | 2,738 | 130,180 | 4,945 | 137,863 | |||||||||||||||||||||
Total liabilities | $ | 2,738 | $ | 797,437 | $ | 4,945 | $ | 805,120 | |||||||||||||||||
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 three months ended March 31, 2015 and 2014, on a recurring basis are summarized as follows: | |||||||||||||||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||||||||||||||
Securities | Mortgage | ||||||||||||||||||||||||
Trading | Loans held- | available- | servicing | Net derivative | |||||||||||||||||||||
(Dollars in thousands) | securities | for-sale | for-sale | rights, net | liabilities | ||||||||||||||||||||
Balance on January 1, 2015 | $ | 5,643 | $ | 27,910 | $ | 3,307 | $ | 2,517 | $ | -5,240 | |||||||||||||||
Total net gains/(losses) included in: | |||||||||||||||||||||||||
Net income | 170 | 1,142 | - | - | -57 | ||||||||||||||||||||
Other comprehensive income /(loss) | - | - | -14 | - | - | ||||||||||||||||||||
Purchases | - | 854 | - | - | - | ||||||||||||||||||||
Issuances | - | - | - | - | - | ||||||||||||||||||||
Sales | - | - | - | - | - | ||||||||||||||||||||
Settlements | -487 | -3,922 | -102 | -175 | 292 | ||||||||||||||||||||
Net transfers into/(out of) Level 3 | - | 716 | (b) | - | - | - | |||||||||||||||||||
Balance on March 31, 2015 | $ | 5,326 | $ | 26,700 | $ | 3,191 | $ | 2,342 | $ | -5,005 | |||||||||||||||
Net unrealized gains/(losses) included in net income | $ | 171 | (a) | $ | 1,142 | (a) | $ | - | $ | - | $ | -57 | (c) | ||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||
AFS Securities | 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 | -85 | 1,187 | - | - | 1,133 | -2,341 | |||||||||||||||||||
Other comprehensive income /(loss) | - | - | -17 | - | - | - | |||||||||||||||||||
Purchases | 1,559 | 4,106 | - | - | - | - | |||||||||||||||||||
Issuances | - | - | - | - | - | - | |||||||||||||||||||
Sales | -1,715 | - | - | - | -68,519 | - | |||||||||||||||||||
Settlements | -366 | -4,193 | -127 | - | -720 | 311 | |||||||||||||||||||
Net transfers into/(out of) Level 3 | - | -2,337 | (b) | - | - | - | - | ||||||||||||||||||
Balance on March 31, 2014 | $ | 6,593 | $ | 229,219 | $ | 3,682 | $ | 4,300 | $ | 4,687 | $ | -4,945 | |||||||||||||
Net unrealized gains/(losses) included in net income | $ | 40 | (a) | $ | 1,187 | (a) | $ | - | $ | - | $ | 73 | (a) | $ | -2,341 | (c) | |||||||||
Primarily included in mortgage banking income on the Consolidated Condensed 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. | |||||||||||||||||||||||||
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 March 31, 2015 and 2014, 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. | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
Carrying value at March 31, 2015 | 31-Mar-15 | ||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 3,211 | $ | - | $ | 3,211 | $ | 3 | |||||||||||||||
Loans held-for-sale - first mortgages | - | - | 858 | 858 | 38 | ||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 40,386 | 40,386 | -1,541 | ||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 29,681 | 29,681 | -376 | ||||||||||||||||||||
Other assets (c) | - | - | 28,265 | 28,265 | -395 | ||||||||||||||||||||
$ | -2,271 | ||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
Carrying value at March 31, 2014 | 31-Mar-14 | ||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Net gains/(losses) | ||||||||||||||||||||
Loans held-for-sale - SBAs | $ | - | $ | 3,494 | $ | - | $ | 3,494 | $ | 42 | |||||||||||||||
Loans held-for-sale - first mortgages | - | - | 9,191 | 9,191 | -17 | ||||||||||||||||||||
Loans, net of unearned income (a) | - | - | 57,035 | 57,035 | -488 | ||||||||||||||||||||
Real estate acquired by foreclosure (b) | - | - | 42,970 | 42,970 | -858 | ||||||||||||||||||||
Other assets (c) | - | - | 30,445 | 30,445 | -325 | ||||||||||||||||||||
$ | -1,646 | ||||||||||||||||||||||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, "Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects." See Note 1 - Financial Information for additional information. | |||||||||||||||||||||||||
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 accounted for under the equity method. | |||||||||||||||||||||||||
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 March 31, 2015 and 2014: | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||
Level 3 Class | 31-Mar-15 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||
Trading securities - mortgage (a) | $ | 5,321 | Discounted cash flow | Prepayment speeds | 42% - 46% | ||||||||||||||||||||
Discount rate | 6% - 55% | ||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 27,558 | Discounted cash flow | Prepayment speeds - First mortgage | 2% - 22% | |||||||||||||||||||||
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% | ||||||||||||||||||||||||
Derivative liabilities, other | 5,005 | Discounted cash flow | Visa covered litigation resolution amount | $4.5 billion - $5.6 billion | |||||||||||||||||||||
Probability of resolution scenarios | 10% - 25% | ||||||||||||||||||||||||
Time until resolution | 6 - 48 months | ||||||||||||||||||||||||
Loans, net of unearned income (b) | 40,386 | 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) | 29,681 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||
Other assets (d) | 28,265 | 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 and subordinated bonds are discussed in the Trading securities-mortgage paragraph. | |||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. 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 accounted for under the equity method. | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Fair Value at | |||||||||||||||||||||||||
Level 3 Class | 31-Mar-14 | Valuation Techniques | Unobservable Input | Values Utilized | |||||||||||||||||||||
Trading securities - mortgage (a) | $ | 6,588 | Discounted cash flow | Prepayment speeds | 40% - 46% | ||||||||||||||||||||
Discount rate | 47% - 49% | ||||||||||||||||||||||||
Loans held-for-sale - residential real estate | 238,410 | 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% | ||||||||||||||||||||||||
Derivative liabilities, other | 4,945 | Discounted cash flow | Visa covered litigation resolution amount | $4.4 billion - $5.2 billion | |||||||||||||||||||||
Probability of resolution scenarios | 10% - 30% | ||||||||||||||||||||||||
Time until resolution | 12 - 48 months | ||||||||||||||||||||||||
Loans, net of unearned income (b) | 57,035 | 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) | 42,970 | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | |||||||||||||||||||||
Other assets (d) | 30,445 | 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 | |||||||||||||||||||||||
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Financial Information for additional information. | |||||||||||||||||||||||||
The unobservable inputs for principal-only and interest-only trading securities and subordinated bonds are discussed in the Trading securities-mortgage paragraph. | |||||||||||||||||||||||||
Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. 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 accounted for under the equity method. | |||||||||||||||||||||||||
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-Mar-15 | |||||||||||||||||||||||||
(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 | $ | 26,700 | $ | 40,762 | $ | -14,062 | |||||||||||||||||||
Nonaccrual loans | 6,780 | 13,023 | -6,243 | ||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 1,343 | 1,686 | -343 | ||||||||||||||||||||||
31-Mar-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 | $ | 229,219 | $ | 374,401 | $ | -145,182 | |||||||||||||||||||
Nonaccrual loans | 61,842 | 133,600 | -71,758 | ||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 7,260 | 15,010 | -7,750 | ||||||||||||||||||||||
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: | ||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
31-Mar | |||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||
Changes in fair value included in net income: | |||||||||||||||||||||||||
Mortgage banking noninterest income | |||||||||||||||||||||||||
Loans held-for-sale | $ | 1,142 | $ | 1,187 | |||||||||||||||||||||
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 Condensed Statements of Condition as well as unfunded loan commitments and stand by and other commitments as of March 31, 2015 and 2014. | ||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
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 | $ | 9,570,703 | $ | - | $ | - | $ | 9,523,767 | $ | 9,523,767 | |||||||||||||||
Commercial real estate | 1,303,232 | - | - | 1,285,775 | 1,285,775 | ||||||||||||||||||||
Retail: | |||||||||||||||||||||||||
Consumer real estate | 4,813,572 | - | - | 4,640,351 | 4,640,351 | ||||||||||||||||||||
Permanent mortgage | 491,522 | - | - | 458,133 | 458,133 | ||||||||||||||||||||
Credit card & other | 324,766 | - | - | 326,506 | 326,506 | ||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 16,503,795 | - | - | 16,234,532 | 16,234,532 | ||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||
Interest-bearing cash | 438,633 | 438,633 | - | - | 438,633 | ||||||||||||||||||||
Federal funds sold | 43,052 | - | 43,052 | - | 43,052 | ||||||||||||||||||||
Securities purchased under agreements to resell | 831,541 | - | 831,541 | - | 831,541 | ||||||||||||||||||||
Total short-term financial assets | 1,313,226 | 438,633 | 874,593 | - | 1,313,226 | ||||||||||||||||||||
Trading securities (a) | 1,532,463 | - | 1,527,137 | 5,326 | 1,532,463 | ||||||||||||||||||||
Loans held-for-sale (a) | 133,958 | - | 3,211 | 130,747 | 133,958 | ||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,672,331 | 25,870 | 3,487,502 | 158,959 | 3,672,331 | ||||||||||||||||||||
Securities held-to-maturity | 4,299 | - | - | 5,451 | 5,451 | ||||||||||||||||||||
Derivative assets (a) | 148,153 | 6,910 | 141,243 | - | 148,153 | ||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Tax credit investments | 80,331 | - | - | 62,768 | 62,768 | ||||||||||||||||||||
Deferred compensation assets | 26,440 | 26,440 | - | - | 26,440 | ||||||||||||||||||||
Total other assets | 106,771 | 26,440 | - | 62,768 | 89,208 | ||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||
Cash & due from banks | 282,800 | 282,800 | - | - | 282,800 | ||||||||||||||||||||
Capital markets receivables | 190,662 | - | 190,662 | - | 190,662 | ||||||||||||||||||||
Accrued interest receivable | 72,716 | - | 72,716 | - | 72,716 | ||||||||||||||||||||
Total nonearning assets | 546,178 | 282,800 | 263,378 | - | 546,178 | ||||||||||||||||||||
Total assets | $ | 23,961,174 | $ | 780,653 | $ | 6,297,064 | $ | 16,597,783 | $ | 23,675,500 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||
Defined maturity | $ | 1,210,417 | $ | - | $ | 1,216,398 | $ | - | $ | 1,216,398 | |||||||||||||||
Undefined maturity | 17,428,137 | - | 17,428,137 | - | 17,428,137 | ||||||||||||||||||||
Total deposits | 18,638,554 | - | 18,644,535 | - | 18,644,535 | ||||||||||||||||||||
Trading liabilities (a) | 813,141 | - | 813,141 | - | 813,141 | ||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||
Federal funds purchased | 703,352 | - | 703,352 | - | 703,352 | ||||||||||||||||||||
Securities sold under agreements to repurchase | 309,297 | - | 309,297 | - | 309,297 | ||||||||||||||||||||
Other short-term borrowings | 158,745 | - | 158,745 | - | 158,745 | ||||||||||||||||||||
Total short-term financial liabilities | 1,171,394 | - | 1,171,394 | - | 1,171,394 | ||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||
Real estate investment trust-preferred | 45,913 | - | - | 49,350 | 49,350 | ||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 18,208 | 18,208 | ||||||||||||||||||||
Borrowings secured by residential real estate | 60,914 | - | - | 52,568 | 52,568 | ||||||||||||||||||||
Other long term borrowings | 1,448,388 | - | 1,426,924 | - | 1,426,924 | ||||||||||||||||||||
Total term borrowings | 1,573,215 | - | 1,426,924 | 120,126 | 1,547,050 | ||||||||||||||||||||
Derivative liabilities (a) | 133,273 | 7,828 | 120,440 | 5,005 | 133,273 | ||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||
Capital markets payables | 91,176 | - | 91,176 | - | 91,176 | ||||||||||||||||||||
Accrued interest payable | 31,745 | - | 31,745 | - | 31,745 | ||||||||||||||||||||
Total other noninterest-bearing liabilities | 122,921 | - | 122,921 | - | 122,921 | ||||||||||||||||||||
Total liabilities | $ | 22,452,498 | $ | 7,828 | $ | 22,299,355 | $ | 125,131 | $ | 22,432,314 | |||||||||||||||
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-Mar-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 | $ | 7,680,262 | $ | - | $ | - | $ | 7,595,334 | $ | 7,595,334 | |||||||||||||||
Commercial real estate | 1,136,895 | - | - | 1,093,796 | 1,093,796 | ||||||||||||||||||||
Retail: | |||||||||||||||||||||||||
Consumer real estate | 5,134,606 | - | - | 4,824,384 | 4,824,384 | ||||||||||||||||||||
Permanent mortgage | 599,721 | - | - | 540,843 | 540,843 | ||||||||||||||||||||
Credit card & other | 320,731 | - | - | 322,690 | 322,690 | ||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | 14,872,215 | - | - | 14,377,047 | 14,377,047 | ||||||||||||||||||||
Short-term financial assets | |||||||||||||||||||||||||
Interest-bearing cash | 685,540 | 685,540 | - | - | 685,540 | ||||||||||||||||||||
Federal funds sold | 16,555 | - | 16,555 | - | 16,555 | ||||||||||||||||||||
Securities purchased under agreements to resell | 605,276 | - | 605,276 | - | 605,276 | ||||||||||||||||||||
Total short-term financial assets | 1,307,371 | 685,540 | 621,831 | - | 1,307,371 | ||||||||||||||||||||
Trading securities (a) | 1,194,749 | - | 1,188,156 | 6,593 | 1,194,749 | ||||||||||||||||||||
Loans held-for-sale (a) | 361,359 | - | 3,494 | 357,865 | 361,359 | ||||||||||||||||||||
Securities available-for-sale (a) (b) | 3,571,179 | 26,482 | 3,377,977 | 166,720 | 3,571,179 | ||||||||||||||||||||
Securities held-to-maturity | 4,274 | - | - | 5,454 | 5,454 | ||||||||||||||||||||
Derivative assets (a) | 166,465 | 4,015 | 162,450 | - | 166,465 | ||||||||||||||||||||
Other assets | |||||||||||||||||||||||||
Tax credit investments | 85,901 | - | - | 73,344 | 73,344 | ||||||||||||||||||||
Deferred compensation assets | 23,335 | 23,335 | - | - | 23,335 | ||||||||||||||||||||
Total other assets | 109,236 | 23,335 | - | 73,344 | 96,679 | ||||||||||||||||||||
Nonearning assets | |||||||||||||||||||||||||
Cash & due from banks | 450,270 | 450,270 | - | - | 450,270 | ||||||||||||||||||||
Capital markets receivables | 51,082 | - | 51,082 | - | 51,082 | ||||||||||||||||||||
Accrued interest receivable | 73,010 | - | 73,010 | - | 73,010 | ||||||||||||||||||||
Total nonearning assets | 574,362 | 450,270 | 124,092 | - | 574,362 | ||||||||||||||||||||
Total assets | $ | 22,161,210 | $ | 1,189,642 | $ | 5,478,000 | $ | 14,987,023 | $ | 21,654,665 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Deposits: | |||||||||||||||||||||||||
Defined maturity | $ | 1,436,657 | $ | - | $ | 1,448,362 | $ | - | $ | 1,448,362 | |||||||||||||||
Undefined maturity | 15,236,086 | - | 15,236,086 | - | 15,236,086 | ||||||||||||||||||||
Total deposits | 16,672,743 | - | 16,684,448 | - | 16,684,448 | ||||||||||||||||||||
Trading liabilities (a) | 667,257 | - | 667,257 | - | 667,257 | ||||||||||||||||||||
Short-term financial liabilities | |||||||||||||||||||||||||
Federal funds purchased | 1,135,665 | - | 1,135,665 | - | 1,135,665 | ||||||||||||||||||||
Securities sold under agreements to repurchase | 411,795 | - | 411,795 | - | 411,795 | ||||||||||||||||||||
Other short-term borrowings | 204,023 | - | 204,023 | - | 204,023 | ||||||||||||||||||||
Total short-term financial liabilities | 1,751,483 | - | 1,751,483 | - | 1,751,483 | ||||||||||||||||||||
Term borrowings | |||||||||||||||||||||||||
Real estate investment trust-preferred | 45,845 | - | - | 49,350 | 49,350 | ||||||||||||||||||||
Term borrowings - new market tax credit investment | 18,000 | - | - | 17,810 | 17,810 | ||||||||||||||||||||
Borrowings secured by residential real estate | 77,119 | - | - | 66,554 | 66,554 | ||||||||||||||||||||
Other long term borrowings | 1,366,084 | - | 1,362,408 | - | 1,362,408 | ||||||||||||||||||||
Total term borrowings | 1,507,048 | - | 1,362,408 | 133,714 | 1,496,122 | ||||||||||||||||||||
Derivative liabilities (a) | 137,863 | 2,738 | 130,180 | 4,945 | 137,863 | ||||||||||||||||||||
Other noninterest-bearing liabilities | |||||||||||||||||||||||||
Capital markets payables | 39,510 | - | 39,510 | - | 39,510 | ||||||||||||||||||||
Accrued interest payable | 33,244 | - | 33,244 | - | 33,244 | ||||||||||||||||||||
Total other noninterest-bearing liabilities | 72,754 | - | 72,754 | - | 72,754 | ||||||||||||||||||||
Total liabilities | $ | 20,809,148 | $ | 2,738 | $ | 20,668,530 | $ | 138,659 | $ | 20,809,927 | |||||||||||||||
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. | |||||||||||||||||||||||||
Contractual Amount | Fair Value | ||||||||||||||||||||||||
(Dollars in thousands) | 31-Mar-15 | 31-Mar-14 | 31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||
Unfunded Commitments: | |||||||||||||||||||||||||
Loan commitments | $ | 7,073,470 | $ | 7,543,821 | $ | 2,439 | $ | 1,805 | |||||||||||||||||
Standby and other commitments | 374,173 | 316,399 | 5,229 | 5,642 | |||||||||||||||||||||
Financial_Information_Schedule
Financial Information (Schedule of Accounting Changes) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
New Accounting Pronouncement or Change in | ||||
Other assets | $1,429,704,000 | $1,385,572,000 | ||
Other liabilities | 628,420,000 | 649,359,000 | ||
Undivided profits | 716,540,000 | 851,585,000 | ||
Other expense | 18,483,000 | |||
Provision/(benefit) for income taxes | 20,066,000 | |||
Net income/(loss) available to common shareholders | 45,616,000 | |||
Diluted income/(loss) per share | $0.19 | |||
Accounting Standards Update 2014-01 [Member] | ||||
New Accounting Pronouncement or Change in | ||||
Other assets | -5,153,000 | -4,700,000 | -5,340,000 | |
Other liabilities | 6,472,000 | 4,678,000 | 7,034,000 | |
Undivided profits | -11,625,000 | -9,378,000 | -12,374,000 | |
Other expense | -2,170,000 | -8,680,000 | -10,082,000 | -14,177,000 |
Provision/(benefit) for income taxes | 1,421,000 | 5,684,000 | 12,780,000 | 13,234,000 |
Net income/(loss) available to common shareholders | $749,000 | $2,996,000 | ($2,698,000) | $943,000 |
Diluted income/(loss) per share | $0 | $0.01 | ($0.01) | $0 |
Acquisitions_and_Divestitures_
Acquisitions and Divestitures (Narrative) (Details) (USD $) | 10 Months Ended | |||||
Oct. 21, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Oct. 17, 2014 | |
number | number | |||||
Business Acquisition [Line Items] | ||||||
Goodwill | $145,932,000 | $145,932,000 | $141,943,000 | $141,943,000 | ||
Branch Acquisition | ||||||
Business Acquisition [Line Items] | ||||||
Number of bank branches FTBNA agreed to purchase | 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 | |||||
Trustatlantic Financial Corporation | ||||||
Business Acquisition [Line Items] | ||||||
Acquisition date | 21-Oct-14 | |||||
Number Of Bank Branches | 5 |
Investment_Securities_Schedule
Investment Securities (Schedule Of FHN's Investment Securities) (Details) (USD $) | 3 Months Ended | ||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | $3,612,866,000 | [1] | $3,574,144,000 | [2] | |
Securities available for sale, Gross Unrealized Gains | 70,784,000 | [1] | 48,433,000 | [2] | |
Securities available for sale, Gross Unrealized Losses | -11,319,000 | [1] | -51,398,000 | [2] | |
Securities available for sale | 3,672,331,000 | [1] | 3,571,179,000 | [2] | 3,556,613,000 |
Pledged available for sale securities | 3,200,000,000 | 3,300,000,000 | |||
Schedule Of Held To Maturity Securities [Line Items] | |||||
Securities held to maturity, Amortized cost | 4,299,000 | 4,274,000 | 4,292,000 | ||
Securities held to maturity, Gross Unrealized Gains | 1,152,000 | 1,180,000 | |||
Securities held to maturity, Gross Unrealized Losses | 0 | 0 | |||
Securities held to maturity, Fair Value | 5,451,000 | 5,454,000 | |||
U S States And Political Subdivisions [Member] | |||||
Schedule Of Held To Maturity Securities [Line Items] | |||||
Securities held to maturity, Amortized cost | 4,299,000 | 4,274,000 | |||
Securities held to maturity, Gross Unrealized Gains | 1,152,000 | 1,180,000 | |||
Securities held to maturity, Gross Unrealized Losses | 0 | 0 | |||
Securities held to maturity, Fair Value | 5,451,000 | 5,454,000 | |||
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 | 87,900,000 | |||
U.S. treasuries | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | 100,000 | 39,989,000 | |||
Securities available for sale, Gross Unrealized Gains | 0 | 1,000 | |||
Securities available for sale, Gross Unrealized Losses | 0 | 0 | |||
Securities available for sale | 100,000 | 39,990,000 | |||
Government Agency Issued Mortgage-Backed Securities ("MBS") | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | 727,828,000 | 762,069,000 | |||
Securities available for sale, Gross Unrealized Gains | 35,718,000 | 34,332,000 | |||
Securities available for sale, Gross Unrealized Losses | -696,000 | -3,839,000 | |||
Securities available for sale | 762,850,000 | 792,562,000 | |||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | 2,691,544,000 | 2,565,310,000 | |||
Securities available for sale, Gross Unrealized Gains | 35,030,000 | 13,996,000 | |||
Securities available for sale, Gross Unrealized Losses | -10,427,000 | -47,536,000 | |||
Securities available for sale | 2,716,147,000 | 2,531,770,000 | |||
Other U.S. Government Agencies | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | 1,655,000 | 2,078,000 | |||
Securities available for sale, Gross Unrealized Gains | 36,000 | 104,000 | |||
Securities available for sale, Gross Unrealized Losses | 0 | 0 | |||
Securities available for sale | 1,691,000 | 2,182,000 | |||
States And Municipalities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | 9,905,000 | 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 | 9,905,000 | 15,155,000 | |||
Equity and other | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Securities available for sale, Amortized Cost | 181,834,000 | [3] | 189,543,000 | [4] | |
Securities available for sale, Gross Unrealized Gains | 0 | [3] | 0 | [4] | |
Securities available for sale, Gross Unrealized Losses | -196,000 | [3] | -23,000 | [4] | |
Securities available for sale | 181,638,000 | [3] | 189,520,000 | [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 $3.2billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[2] | Includes $3.3 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 $87.9 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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Schedule of Investments [Line Items] | |||||
Within 1 year, Amortized Cost | $1,655,000 | ||||
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 | 8,405,000 | ||||
Subtotal, Amortized Cost | 11,660,000 | ||||
Within 1 year, Fair Value | 1,691,000 | ||||
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 | 8,405,000 | ||||
Subtotal, Fair Value | 11,696,000 | ||||
Securities available for sale, Amortized Cost | 3,612,866,000 | [1] | 3,574,144,000 | [2] | |
Securities available for sale | 3,672,331,000 | [1] | 3,556,613,000 | 3,571,179,000 | [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 | 4,299,000 | ||||
HTM Subtotal, Amortized Cost | 4,299,000 | ||||
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 | 5,451,000 | ||||
HTM Subtotal, Fair Value | 5,451,000 | ||||
Securities held to maturity, Amortized cost | 4,299,000 | 4,292,000 | 4,274,000 | ||
Securities held to maturity, Fair Value | 5,451,000 | 5,454,000 | |||
Government Agency Issued MBS And CMO | |||||
Schedule of Investments [Line Items] | |||||
Securities available for sale, Amortized Cost | 3,419,372,000 | [3] | |||
Securities available for sale | 3,478,997,000 | [3] | |||
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 | 181,834,000 | [4] | 189,543,000 | [5] | |
Securities available for sale | 181,638,000 | [4] | 189,520,000 | [5] | |
Securities held to maturity, Amortized cost | 0 | ||||
Securities held to maturity, Fair Value | $0 | ||||
[1] | Includes $3.2billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[2] | Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[3] | 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. | ||||
[4] | 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. | ||||
[5] | Includes restricted investments in FHLB-Cincinnati stock of $87.9 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 $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Investment Securities [Abstract] | ||||
Gross gains on sales of securities | $276,000 | $5,657,000 | ||
Gross (losses) on sales of securities | 0 | 0 | ||
Net gain/(loss) on sales of securities | 276,000 | [1] | 5,657,000 | [1] |
Proceeds from sales | 300,000 | 5,700,000 | ||
Equity securities proceeds from sales | $1,400,000 | |||
[1] | Proceeds for the three months ended March 31, 2015 were $.3 million. Proceeds for the three months ended March 31, 2014 were $5.7 million, inclusive of $1.4 million of equity securities. |
Investment_Securities_Schedule3
Investment Securities (Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | $443,866 | $1,782,008 |
Less than 12 months, Unrealized Losses | -1,969 | -47,083 |
12 months or longer, Fair Value | 519,915 | 77,904 |
12 months or longer, Unrealized Losses | -9,350 | -4,315 |
Total Fair Value | 963,781 | 1,859,912 |
Total Unrealized Losses | -11,319 | -51,398 |
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 417,267 | 1,637,064 |
Less than 12 months, Unrealized Losses | -1,729 | -43,221 |
12 months or longer, Fair Value | 485,053 | 77,904 |
12 months or longer, Unrealized Losses | -8,698 | -4,315 |
Total Fair Value | 902,320 | 1,714,968 |
Total Unrealized Losses | -10,427 | -47,536 |
Government Agency Issued Mortgage-Backed Securities ("MBS") | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 25,712 | 144,901 |
Less than 12 months, Unrealized Losses | -79 | -3,839 |
12 months or longer, Fair Value | 34,853 | 0 |
12 months or longer, Unrealized Losses | -617 | 0 |
Total Fair Value | 60,565 | 144,901 |
Total Unrealized Losses | -696 | -3,839 |
Total debt securities | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 442,979 | 1,781,965 |
Less than 12 months, Unrealized Losses | -1,808 | -47,060 |
12 months or longer, Fair Value | 519,906 | 77,904 |
12 months or longer, Unrealized Losses | -9,315 | -4,315 |
Total Fair Value | 962,885 | 1,859,869 |
Total Unrealized Losses | -11,123 | -51,375 |
Equity | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 887 | 43 |
Less than 12 months, Unrealized Losses | -161 | -23 |
12 months or longer, Fair Value | 9 | 0 |
12 months or longer, Unrealized Losses | -35 | 0 |
Total Fair Value | 896 | 43 |
Total Unrealized Losses | ($196) | ($23) |
Loans_Narrative_Details
Loans (Narrative) (Details) (USD $) | 3 Months Ended | ||||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Troubled debt restructurings loans | $317,800,000 | $353,400,000 | |||||
Allowance for loan losses | 228,328,000 | 247,246,000 | 232,448,000 | 253,809,000 | |||
Average balance of impaired loans | 345,864,000 | 391,004,000 | |||||
Interest income recognized on impaired loan | 1,663,000 | 1,681,000 | |||||
Forbearance agreements time period | 6 months | ||||||
Loans, net of unearned income | 16,732,123,000 | [1] | 15,119,461,000 | 16,230,166,000 | |||
Provision for loan losses | 5,000,000 | 10,000,000 | |||||
Loan loss provision on PCI loans | 200,000 | 1,200,000 | |||||
Allowance - purchased credit impaired loans | 3,095,000 | 1,899,000 | |||||
Permanent Mortgage Portfolio Segment | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 20,186,000 | 22,521,000 | 19,122,000 | 22,491,000 | |||
TDR, reduction of interest rate by increment, basis points | 0.25% | ||||||
TDRS Maturities | 40 years | ||||||
Loans, net of unearned income | 511,708,000 | 622,242,000 | 538,961,000 | ||||
Modified interest rate increase | 1.00% | ||||||
Provision for loan losses | 1,630,000 | 1,670,000 | |||||
Allowance - purchased credit impaired loans | 0 | 0 | |||||
Loans Held-For-Sale | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Troubled debt restructurings loans | 78,000,000 | 137,000,000 | |||||
Residential Real Estate | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Concentration risk, percentage | 32.00% | ||||||
Consumer Real Estate Portfolio Segment | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Concentration risk, percentage | 29.00% | ||||||
Allowance for loan losses | 109,245,000 | 123,409,000 | 113,011,000 | 126,785,000 | |||
TDRS Maturities | 30 years | ||||||
Loans, net of unearned income | 4,922,817,000 | [2] | 5,258,014,000 | [2] | 5,048,071,000 | [2] | |
Provision for loan losses | 47,000 | 3,914,000 | |||||
Allowance - purchased credit impaired loans | 490,000 | 10,000 | |||||
Modified Loans Classified As A TDR | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 62,100,000 | 65,800,000 | |||||
Ratio of the allowance for loan losses to loans | 20.00% | 19.00% | |||||
Loans To Mortgage Companies | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Percentage contributed in total loan | 10.00% | ||||||
Concentration risk, percentage | 17.00% | ||||||
Commercial loans | 1,641,672,000 | 709,552,000 | |||||
Loans, net of unearned income | 1,641,672,000 | 709,552,000 | |||||
Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 85,317,000 | 86,367,000 | |||||
Average balance of impaired loans | 60,790,000 | 96,696,000 | |||||
Interest income recognized on impaired loan | 290,000 | 244,000 | |||||
Commercial loans | 10,959,252,000 | 8,859,764,000 | |||||
Time period of default probability | 1 year | ||||||
Allowance - purchased credit impaired loans | 2,605,000 | ||||||
Credit Card & Other | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 13,580,000 | 13,061,000 | 14,730,000 | 7,484,000 | |||
Loans, net of unearned income | 338,346,000 | 333,792,000 | 358,131,000 | ||||
Provision for loan losses | 1,893,000 | 8,657,000 | |||||
Allowance - purchased credit impaired loans | 0 | 0 | |||||
Credit Card | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Credit card workout program, granted rate reduction | 0.00% | ||||||
Loans, net of unearned income | 179,949,000 | 183,443,000 | |||||
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 | 71,600,000 | 86,700,000 | 76,800,000 | ||||
Finance And Insurance Companies | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Percentage contributed in total loan | 12.00% | ||||||
Concentration risk, percentage | 21.00% | ||||||
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 | 38.00% | ||||||
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 | 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% | ||||||
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 | |||||||
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 | 75,000 | 90,000 | |||||
Lowest expected default probability | 1 | ||||||
PD Grade 12 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 4,103,000 | 2,403,000 | |||||
PD Grade 13 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 4,989,000 | 7,968,000 | |||||
PD Grade 13 | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loans | 500,000 | ||||||
LGD Grade 1 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | 1 | ||||||
LGD Grade 12 | |||||||
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] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | ||||||
[2] | (a) Balances as of March 31, 2015 and 2014, and December 31, 2014 include $71.6 million, $86.7 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - Variable Interest Entities for additional information. |
Loans_Schedule_Of_Loans_By_Por
Loans (Schedule Of Loans By Portfolio Segment) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | $16,732,123,000 | [1] | $16,230,166,000 | $15,119,461,000 | |||
Allowance for loan losses | 228,328,000 | 232,448,000 | 247,246,000 | 253,809,000 | |||
Total net loans | 16,503,795,000 | 15,997,718,000 | 14,872,215,000 | ||||
Commercial Financial And Industrial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | 9,638,355,000 | 9,007,286,000 | 7,752,995,000 | ||||
Allowance for loan losses | 67,652,000 | 67,011,000 | 72,732,000 | 86,446,000 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | 1,320,897,000 | 1,277,717,000 | 1,152,418,000 | ||||
Allowance for loan losses | 17,665,000 | 18,574,000 | 15,523,000 | 10,603,000 | |||
Consumer Real Estate Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | 4,922,817,000 | [2] | 5,048,071,000 | [2] | 5,258,014,000 | [2] | |
Allowance for loan losses | 109,245,000 | 113,011,000 | 123,409,000 | 126,785,000 | |||
Permanent Mortgage Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | 511,708,000 | 538,961,000 | 622,242,000 | ||||
Allowance for loan losses | 20,186,000 | 19,122,000 | 22,521,000 | 22,491,000 | |||
Credit Card And Other Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | 338,346,000 | 358,131,000 | 333,792,000 | ||||
Allowance for loan losses | 13,580,000 | 14,730,000 | 13,061,000 | 7,484,000 | |||
Restricted And Secured Consumer Real Estate Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | $71,600,000 | $76,800,000 | $86,700,000 | ||||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | ||||||
[2] | (a) Balances as of March 31, 2015 and 2014, and December 31, 2014 include $71.6 million, $86.7 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - 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 $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Loans [Abstract] | ||||
Balance, beginning of period | $14,714,000 | $13,490,000 | ||
Impact of acquisition/purchase on June 7, 2013 | 0 | 111,000 | ||
Accretion | -3,371,000 | -1,657,000 | ||
Adjustment for payoffs | -1,336,000 | -233,000 | ||
Adjustment for charge-offs | 0 | -64,000 | ||
Increase in accretable yield | 461,000 | [1] | 4,181,000 | [1] |
Balance, end of period | $10,468,000 | $15,828,000 | ||
[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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Ending balance | $29,597,000 | $38,205,000 | $44,453,000 |
Unpaid balance | 37,551,000 | 49,941,000 | 62,166,000 |
Commercial Financial And Industrial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Ending balance | 4,665,000 | 5,044,000 | 6,693,000 |
Unpaid balance | 5,437,000 | 5,813,000 | 8,503,000 |
Commercial Real Estate Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Ending balance | 23,013,000 | 32,553,000 | 37,067,000 |
Unpaid balance | 29,205,000 | 43,246,000 | 52,690,000 |
Consumer Real Estate Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Ending balance | 1,910,000 | 598,000 | 693,000 |
Unpaid balance | 2,897,000 | 868,000 | 973,000 |
Credit Card And Other Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Ending balance | 9,000 | 10,000 | 0 |
Unpaid balance | $12,000 | $14,000 | $0 |
Loans_Information_By_Class_Rel
Loans (Information By Class Related To Individually Impaired Loans) (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | $348,772,000 | $378,295,000 | ||
Unpaid Principal Balance | 403,973,000 | 445,119,000 | ||
Related Allowance | 66,361,000 | 69,782,000 | ||
Average Recorded Investment | 345,864,000 | 391,004,000 | ||
Interest Income Recognized | 1,663,000 | 1,681,000 | ||
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 65,839,000 | 82,104,000 | ||
Unpaid Principal Balance | 82,799,000 | 104,853,000 | ||
Related Allowance | 6,630,000 | 6,682,000 | ||
Average Recorded Investment | 60,790,000 | 96,696,000 | ||
Interest Income Recognized | 290,000 | 244,000 | ||
Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 282,933,000 | 296,191,000 | ||
Unpaid Principal Balance | 321,174,000 | 340,266,000 | ||
Related Allowance | 59,731,000 | 63,100,000 | ||
Average Recorded Investment | 285,074,000 | 294,308,000 | ||
Interest Income Recognized | 1,373,000 | 1,437,000 | ||
Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 17,839,000 | 22,630,000 | ||
Unpaid Principal Balance | 28,169,000 | 32,177,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 18,537,000 | 32,140,000 | ||
Interest Income Recognized | 0 | 0 | ||
Impaired Loans With No Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 24,323,000 | 34,405,000 | ||
Unpaid Principal Balance | 46,582,000 | 62,161,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 24,889,000 | 35,350,000 | ||
Interest Income Recognized | 3,000 | 0 | ||
Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 48,000,000 | 59,474,000 | ||
Unpaid Principal Balance | 54,630,000 | 72,676,000 | ||
Related Allowance | 6,630,000 | 6,682,000 | ||
Average Recorded Investment | 42,253,000 | 64,556,000 | ||
Interest Income Recognized | 290,000 | 244,000 | ||
Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 258,610,000 | 261,786,000 | ||
Unpaid Principal Balance | 274,592,000 | 278,105,000 | ||
Related Allowance | 59,731,000 | 63,100,000 | ||
Average Recorded Investment | 260,185,000 | 258,958,000 | ||
Interest Income Recognized | 1,370,000 | 1,437,000 | ||
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 | 13,630,000 | 14,130,000 | ||
Unpaid Principal Balance | 16,803,000 | 15,648,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 11,594,000 | 20,378,000 | ||
Interest Income Recognized | 0 | 0 | ||
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 | 26,252,000 | 27,723,000 | ||
Unpaid Principal Balance | 30,759,000 | 33,911,000 | ||
Related Allowance | 1,709,000 | 1,201,000 | ||
Average Recorded Investment | 19,772,000 | 22,232,000 | ||
Interest Income Recognized | 253,000 | 79,000 | ||
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 | 0 | ||
Unpaid Principal Balance | 0 | 0 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 0 | 3,250,000 | ||
Interest Income Recognized | 0 | |||
TRUPs [Member] | Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 13,429,000 | 13,550,000 | ||
Unpaid Principal Balance | 13,700,000 | 13,550,000 | ||
Related Allowance | 4,310,000 | 3,986,000 | ||
Average Recorded Investment | 13,444,000 | 23,580,000 | ||
Interest Income Recognized | 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 | 4,209,000 | 8,500,000 | ||
Unpaid Principal Balance | 11,366,000 | 16,529,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 6,369,000 | 8,512,000 | ||
Interest Income Recognized | 0 | 0 | ||
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 | 6,695,000 | 11,821,000 | ||
Unpaid Principal Balance | 8,180,000 | 13,540,000 | ||
Related Allowance | 502,000 | 783,000 | ||
Average Recorded Investment | 7,540,000 | 12,097,000 | ||
Interest Income Recognized | 30,000 | 102,000 | ||
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 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 574,000 | 0 | ||
Interest Income Recognized | 0 | 0 | ||
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 | 1,624,000 | 6,380,000 | ||
Unpaid Principal Balance | 1,991,000 | 11,675,000 | ||
Related Allowance | 109,000 | 712,000 | ||
Average Recorded Investment | 1,497,000 | 6,647,000 | ||
Interest Income Recognized | 7,000 | 63,000 | ||
Home Equity [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 12,600,000 | [1] | 16,151,000 | [1] |
Unpaid Principal Balance | 31,419,000 | 37,723,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 12,989,000 | 16,488,000 | ||
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 | 85,102,000 | 73,287,000 | ||
Unpaid Principal Balance | 87,242,000 | 74,730,000 | ||
Related Allowance | 20,513,000 | 17,080,000 | ||
Average Recorded Investment | 84,636,000 | 71,792,000 | ||
Interest Income Recognized | 448,000 | 434,000 | ||
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 | 4,518,000 | [1] | 10,400,000 | [1] |
Unpaid Principal Balance | 5,827,000 | 13,360,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 4,669,000 | 10,705,000 | ||
Interest Income Recognized | 3,000 | 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 | 69,391,000 | 73,738,000 | ||
Unpaid Principal Balance | 70,384,000 | 74,645,000 | ||
Related Allowance | 21,224,000 | 26,573,000 | ||
Average Recorded Investment | 70,124,000 | 73,015,000 | ||
Interest Income Recognized | 327,000 | 269,000 | ||
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 | 7,205,000 | [1] | 7,854,000 | [1] |
Unpaid Principal Balance | 9,336,000 | 11,078,000 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 7,231,000 | 8,157,000 | ||
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 | 103,633,000 | 113,989,000 | ||
Unpaid Principal Balance | 116,482,000 | 127,958,000 | ||
Related Allowance | 17,766,000 | 19,211,000 | ||
Average Recorded Investment | 104,917,000 | 113,493,000 | ||
Interest Income Recognized | 591,000 | 723,000 | ||
Credit Card Other [Member] | Impaired Loans With Related Allowance Recorded [Member] | Retail [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 484,000 | 772,000 | ||
Unpaid Principal Balance | 484,000 | 772,000 | ||
Related Allowance | 228,000 | 236,000 | ||
Average Recorded Investment | 508,000 | 658,000 | ||
Interest Income Recognized | $4,000 | $11,000 | ||
[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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan losses | $228,328,000 | $232,448,000 | $247,246,000 | $253,809,000 | ||
Total loans collectively evaluated for impairment | 16,351,273,000 | 14,695,248,000 | ||||
Total loans individually evaluated for impairment | 348,158,000 | 377,861,000 | ||||
Allowance - collectively evaluated for impairment | 158,872,000 | 175,565,000 | ||||
Allowance - individually evaluated for impairment | 66,361,000 | 69,782,000 | ||||
Allowance - purchased credit impaired loans | 3,095,000 | 1,899,000 | ||||
Purchase credit impaired loans - recorded investment | 32,692,000 | 46,352,000 | ||||
General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 7,613,746,000 | 6,646,171,000 | ||||
Total loans individually evaluated for impairment | 39,882,000 | 41,853,000 | ||||
Total commercial loans | 7,658,486,000 | 6,688,024,000 | ||||
Purchase credit impaired loans - recorded investment | 4,858,000 | |||||
Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 1,641,672,000 | 709,552,000 | ||||
Total loans individually evaluated for impairment | 0 | 0 | ||||
Total commercial loans | 1,641,672,000 | 709,552,000 | ||||
Purchase credit impaired loans - recorded investment | 0 | |||||
TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 325,382,000 | [1] | 335,543,000 | [1] | ||
Total loans individually evaluated for impairment | 12,815,000 | [1] | 13,115,000 | [1] | ||
Total commercial loans | 338,197,000 | [1] | 348,658,000 | [1] | ||
LOCOM valuation allowance | 26,200,000 | 26,600,000 | ||||
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 | 1,252,912,000 | 1,052,693,000 | ||||
Total loans individually evaluated for impairment | 10,904,000 | 20,321,000 | ||||
Total commercial loans | 1,287,512,000 | 1,073,014,000 | ||||
Purchase credit impaired loans - recorded investment | 23,696,000 | |||||
Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 30,032,000 | 34,136,000 | ||||
Total loans individually evaluated for impairment | 1,624,000 | 6,380,000 | ||||
Total commercial loans | 33,385,000 | 40,516,000 | ||||
Purchase credit impaired loans - recorded investment | 1,729,000 | |||||
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 | 85,317,000 | 86,367,000 | ||||
Total loans collectively evaluated for impairment | 10,863,744,000 | 8,778,095,000 | ||||
Total loans individually evaluated for impairment | 65,225,000 | 81,669,000 | ||||
Total commercial loans | 10,959,252,000 | 8,859,764,000 | ||||
Allowance - collectively evaluated for impairment | 76,082,000 | 79,685,000 | ||||
Allowance - individually evaluated for impairment | 6,630,000 | 6,682,000 | ||||
Allowance - purchased credit impaired loans | 2,605,000 | |||||
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 | 30,283,000 | |||||
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 | 447,389,000 | 233,362,000 | ||||
Percent of total commercial loans | 4.00% | 3.00% | ||||
Allowance for loan losses | 75,000 | 90,000 | ||||
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 | 446,725,000 | 233,362,000 | ||||
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 | [1] | 0 | [1] | ||
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 | 605,000 | 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 | 59,000 | 0 | ||||
Commercial Loan P D Grade Two [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 552,198,000 | 220,663,000 | ||||
Percent of total commercial loans | 5.00% | 2.00% | ||||
Allowance for loan losses | 173,000 | 88,000 | ||||
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 | 550,069,000 | 218,944,000 | ||||
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 | [1] | 0 | [1] | ||
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 | 1,896,000 | 1,719,000 | ||||
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 | 233,000 | 0 | ||||
Commercial Loan P D Grade Three [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 868,373,000 | 230,436,000 | ||||
Percent of total commercial loans | 8.00% | 3.00% | ||||
Allowance for loan losses | 228,000 | 199,000 | ||||
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 | 528,347,000 | 225,715,000 | ||||
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 | 276,653,000 | 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 | [1] | 0 | [1] | ||
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 | 63,112,000 | 4,639,000 | ||||
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 | 261,000 | 82,000 | ||||
Commercial Loan P D Grade Four [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 962,896,000 | 380,954,000 | ||||
Percent of total commercial loans | 9.00% | 4.00% | ||||
Allowance for loan losses | 435,000 | 487,000 | ||||
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 | 663,213,000 | 367,591,000 | ||||
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 | 235,434,000 | 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 | [1] | 0 | [1] | ||
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 | 64,020,000 | 13,148,000 | ||||
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 | 229,000 | 215,000 | ||||
Commercial Loan P D Grade Five [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,690,716,000 | 880,804,000 | ||||
Percent of total commercial loans | 15.00% | 10.00% | ||||
Allowance for loan losses | 2,743,000 | 2,348,000 | ||||
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 | 1,050,800,000 | 778,522,000 | ||||
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 | 384,418,000 | 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 | [1] | 0 | [1] | ||
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 | 253,658,000 | 96,447,000 | ||||
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 | 1,840,000 | 5,835,000 | ||||
Commercial Loan P D Grade Six [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,828,941,000 | 1,218,585,000 | ||||
Percent of total commercial loans | 17.00% | 14.00% | ||||
Allowance for loan losses | 5,488,000 | 1,743,000 | ||||
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 | 1,111,069,000 | 947,462,000 | ||||
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 | 498,752,000 | 69,207,000 | ||||
Commercial Loan P D Grade Six [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [1] | 0 | [1] | ||
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 | 213,787,000 | 196,101,000 | ||||
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 | 5,333,000 | 5,815,000 | ||||
Commercial Loan P D Grade Seven [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,716,146,000 | 1,496,707,000 | ||||
Percent of total commercial loans | 16.00% | 16.00% | ||||
Allowance for loan losses | 9,169,000 | 2,698,000 | ||||
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 | 1,278,125,000 | 1,081,770,000 | ||||
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 | 192,154,000 | 159,207,000 | ||||
Commercial Loan P D Grade Seven [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [1] | 0 | [1] | ||
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 | 231,551,000 | 249,317,000 | ||||
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 | 14,316,000 | 6,413,000 | ||||
Commercial Loan P D Grade Eight [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 937,770,000 | 1,462,185,000 | ||||
Percent of total commercial loans | 9.00% | 16.00% | ||||
Allowance for loan losses | 9,786,000 | 4,053,000 | ||||
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 | 735,695,000 | 936,597,000 | ||||
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 | 27,813,000 | 301,197,000 | ||||
Commercial Loan P D Grade Eight [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [1] | 0 | [1] | ||
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 | 173,744,000 | 224,339,000 | ||||
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 | 518,000 | 52,000 | ||||
Commercial Loan P D Grade Nine [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 634,175,000 | 869,962,000 | ||||
Percent of total commercial loans | 6.00% | 10.00% | ||||
Allowance for loan losses | 8,642,000 | 7,392,000 | ||||
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 | 474,912,000 | 662,311,000 | ||||
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 | 26,448,000 | 115,936,000 | ||||
Commercial Loan P D Grade Nine [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [1] | 0 | [1] | ||
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 | 131,893,000 | 90,336,000 | ||||
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 | 922,000 | 1,379,000 | ||||
Commercial Loan P D Grade Ten [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 254,982,000 | 513,360,000 | ||||
Percent of total commercial loans | 2.00% | 6.00% | ||||
Allowance for loan losses | 4,811,000 | 6,180,000 | ||||
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 | 228,176,000 | 391,737,000 | ||||
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 | 0 | 58,205,000 | ||||
Commercial Loan P D Grade Ten [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [1] | 0 | [1] | ||
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 | 26,641,000 | 61,584,000 | ||||
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 | 165,000 | 1,834,000 | ||||
Commercial Loan P D Grade Eleven [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 237,840,000 | 430,126,000 | ||||
Percent of total commercial loans | 2.00% | 5.00% | ||||
Allowance for loan losses | 5,783,000 | 9,704,000 | ||||
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 | 209,639,000 | 392,249,000 | ||||
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 | 5,659,000 | ||||
Commercial Loan P D Grade Eleven [Member] | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | [1] | 0 | [1] | ||
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 | 27,255,000 | 30,402,000 | ||||
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 | 946,000 | 1,816,000 | ||||
Commercial Loan P D Grade Twelve [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 122,753,000 | 154,070,000 | ||||
Percent of total commercial loans | 1.00% | 2.00% | ||||
Allowance for loan losses | 4,103,000 | 2,403,000 | ||||
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 | 93,055,000 | 119,196,000 | ||||
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 | [1] | 0 | [1] | ||
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 | 29,205,000 | 33,142,000 | ||||
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 | 493,000 | 1,732,000 | ||||
Commercial Loan P D Grade Thirteen [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 445,763,000 | 492,635,000 | ||||
Percent of total commercial loans | 4.00% | 6.00% | ||||
Allowance for loan losses | 4,989,000 | 7,968,000 | ||||
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 | 114,775,000 | 152,035,000 | ||||
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 | 325,382,000 | [1] | 326,158,000 | [1] | ||
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 | 4,530,000 | 12,262,000 | ||||
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 | 1,076,000 | 2,180,000 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 163,802,000 | 194,246,000 | ||||
Percent of total commercial loans | 1.00% | 2.00% | ||||
Allowance for loan losses | 19,657,000 | 34,332,000 | ||||
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 | 129,146,000 | 138,680,000 | ||||
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 | 141,000 | ||||
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 | [1] | 9,385,000 | [1] | ||
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 | 31,015,000 | 39,257,000 | ||||
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 | $3,641,000 | $6,783,000 | ||||
[1] | Balances as of March 31, 2015 and 2014, presented net of $26.2 million and $26.6 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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, net of unearned income | $16,732,123,000 | [1] | $16,230,166,000 | $15,119,461,000 |
Home Equity | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 2,364,810,000 | 2,747,817,000 | ||
Avg orig FICO | 742 | 741 | ||
Avg Refreshed FICO | 732 | 731 | ||
Loans, net of unearned income | 2,364,810,000 | 2,747,817,000 | ||
Home Equity | Origination Vintage Period Pre 2003 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 51,626,000 | 73,926,000 | ||
Avg orig FICO | 707 | 710 | ||
Avg Refreshed FICO | 700 | 703 | ||
Home Equity | Origination Vintage Period 2003 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 95,043,000 | 130,144,000 | ||
Avg orig FICO | 721 | 723 | ||
Avg Refreshed FICO | 707 | 709 | ||
Home Equity | Origination Vintage Period 2004 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 258,974,000 | 375,252,000 | ||
Avg orig FICO | 723 | 726 | ||
Avg Refreshed FICO | 707 | 715 | ||
Home Equity | Origination Vintage Period 2005 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 421,315,000 | 517,957,000 | ||
Avg orig FICO | 731 | 732 | ||
Avg Refreshed FICO | 720 | 721 | ||
Home Equity | Origination Vintage Period 2006 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 321,702,000 | 375,022,000 | ||
Avg orig FICO | 739 | 740 | ||
Avg Refreshed FICO | 726 | 727 | ||
Home Equity | Origination Vintage Period 2007 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 342,531,000 | 396,409,000 | ||
Avg orig FICO | 744 | 743 | ||
Avg Refreshed FICO | 728 | 728 | ||
Home Equity | Origination Vintage Period 2008 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 188,111,000 | 217,360,000 | ||
Avg orig FICO | 753 | 753 | ||
Avg Refreshed FICO | 748 | 748 | ||
Home Equity | Origination Vintage Period 2009 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 97,279,000 | 113,703,000 | ||
Avg orig FICO | 751 | 751 | ||
Avg Refreshed FICO | 742 | 746 | ||
Home Equity | Origination Vintage Period 2010 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 92,777,000 | 110,958,000 | ||
Avg orig FICO | 753 | 753 | ||
Avg Refreshed FICO | 749 | 748 | ||
Home Equity | Origination Vintage Period 2011 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 92,484,000 | 110,815,000 | ||
Avg orig FICO | 758 | 758 | ||
Avg Refreshed FICO | 753 | 754 | ||
Home Equity | Origination Vintage Period 2012 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 112,955,000 | 133,618,000 | ||
Avg orig FICO | 760 | 759 | ||
Avg Refreshed FICO | 758 | 759 | ||
Home Equity | Origination Vintage Period 2013 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 142,772,000 | 169,429,000 | ||
Avg orig FICO | 757 | 760 | ||
Avg Refreshed FICO | 756 | 757 | ||
Home Equity | Origination Vintage Period 2014 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | 121,991,000 | 23,224,000 | ||
Avg orig FICO | 762 | 756 | ||
Avg Refreshed FICO | 763 | 755 | ||
Home Equity | Origination Vintage Period 2015 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
HELOC - Period End Balance | $25,250,000 | $0 | ||
Avg orig FICO | 759 | 0 | ||
Avg Refreshed FICO | 756 | 0 | ||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. |
Loans_PeriodEnd_Balances_And_V1
Loans (Period-End Balances And Various Asset Quality Attributes By Originations Vintage For R/E Installment Loans) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, net of unearned income | $16,732,123,000 | [1] | $16,230,166,000 | $15,119,461,000 |
Real Estate Installment Class | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 2,558,007,000 | 2,510,197,000 | ||
Avg orig FICO | 749 | 746 | ||
Avg Refreshed FICO | 747 | 743 | ||
Real Estate Installment Class | Origination Vintage Period Pre 2003 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 11,786,000 | 21,069,000 | ||
Avg orig FICO | 679 | 681 | ||
Avg Refreshed FICO | 687 | 687 | ||
Real Estate Installment Class | Origination Vintage Period 2003 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 44,729,000 | 68,747,000 | ||
Avg orig FICO | 713 | 715 | ||
Avg Refreshed FICO | 721 | 724 | ||
Real Estate Installment Class | Origination Vintage Period 2004 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 37,944,000 | 51,187,000 | ||
Avg orig FICO | 699 | 701 | ||
Avg Refreshed FICO | 695 | 699 | ||
Real Estate Installment Class | Origination Vintage Period 2005 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 115,702,000 | 150,669,000 | ||
Avg orig FICO | 715 | 716 | ||
Avg Refreshed FICO | 710 | 711 | ||
Real Estate Installment Class | Origination Vintage Period 2006 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 126,225,000 | 165,515,000 | ||
Avg orig FICO | 712 | 715 | ||
Avg Refreshed FICO | 702 | 700 | ||
Real Estate Installment Class | Origination Vintage Period 2007 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 187,510,000 | 236,727,000 | ||
Avg orig FICO | 722 | 724 | ||
Avg Refreshed FICO | 707 | 708 | ||
Real Estate Installment Class | Origination Vintage Period 2008 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 60,538,000 | 80,067,000 | ||
Avg orig FICO | 718 | 722 | ||
Avg Refreshed FICO | 712 | 718 | ||
Real Estate Installment Class | Origination Vintage Period 2009 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 26,812,000 | 37,048,000 | ||
Avg orig FICO | 737 | 742 | ||
Avg Refreshed FICO | 727 | 733 | ||
Real Estate Installment Class | Origination Vintage Period 2010 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 95,017,000 | 120,128,000 | ||
Avg orig FICO | 747 | 748 | ||
Avg Refreshed FICO | 756 | 754 | ||
Real Estate Installment Class | Origination Vintage Period 2011 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 267,079,000 | 323,992,000 | ||
Avg orig FICO | 760 | 760 | ||
Avg Refreshed FICO | 759 | 759 | ||
Real Estate Installment Class | Origination Vintage Period 2012 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 586,729,000 | 675,368,000 | ||
Avg orig FICO | 764 | 764 | ||
Avg Refreshed FICO | 765 | 765 | ||
Real Estate Installment Class | Origination Vintage Period 2013 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 460,196,000 | 509,103,000 | ||
Avg orig FICO | 756 | 757 | ||
Avg Refreshed FICO | 758 | 753 | ||
Real Estate Installment Class | Origination Vintage Period 2014 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | 450,765,000 | 70,577,000 | ||
Avg orig FICO | 756 | 756 | ||
Avg Refreshed FICO | 754 | 750 | ||
Real Estate Installment Class | Origination Vintage Period 2015 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
R/E Installment Loans- Period End Balance | $86,975,000 | $0 | ||
Avg orig FICO | 757 | 0 | ||
Avg Refreshed FICO | 758 | 0 | ||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, net of unearned income | $16,732,123,000 | [1] | $16,230,166,000 | $15,119,461,000 |
Permanent Mortgage Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 511,708,000 | 622,242,000 | ||
Avg orig FICO | 730 | 730 | ||
Avg Refreshed FICO | 717 | 712 | ||
Loans, net of unearned income | 511,708,000 | 538,961,000 | 622,242,000 | |
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period Pre2004 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 136,848,000 | 178,765,000 | ||
Avg orig FICO | 723 | 725 | ||
Avg Refreshed FICO | 718 | 728 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2004 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 16,484,000 | 21,398,000 | ||
Avg orig FICO | 712 | 712 | ||
Avg Refreshed FICO | 715 | 691 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2005 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 32,563,000 | 38,586,000 | ||
Avg orig FICO | 736 | 737 | ||
Avg Refreshed FICO | 732 | 715 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2006 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 59,636,000 | 72,413,000 | ||
Avg orig FICO | 732 | 728 | ||
Avg Refreshed FICO | 726 | 706 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2007 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | 183,359,000 | 213,580,000 | ||
Avg orig FICO | 733 | 733 | ||
Avg Refreshed FICO | 719 | 711 | ||
Permanent Mortgage Portfolio Segment [Member] | Origination Vintage Period 2008 [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Permanent Mortgage - Period End Balance | $82,818,000 | $97,500,000 | ||
Avg orig FICO | 741 | 741 | ||
Avg Refreshed FICO | 712 | 712 | ||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. |
Loans_Accruing_And_NonAccruing
Loans (Accruing And Non-Accruing Loans By Class) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | $16,732,123,000 | [1] | $16,230,166,000 | $15,119,461,000 | ||
Commercial Financial And Industrial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 9,604,544,000 | 7,700,628,000 | ||||
Total Non-Accruing | 33,811,000 | 52,367,000 | ||||
Loans, net of unearned income | 9,638,355,000 | 9,007,286,000 | 7,752,995,000 | |||
Consumer Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 4,803,417,000 | 5,125,993,000 | ||||
Total Non-Accruing | 119,400,000 | 132,021,000 | ||||
Loans, net of unearned income | 4,922,817,000 | [2] | 5,048,071,000 | [2] | 5,258,014,000 | [2] |
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 1,307,561,000 | 1,137,484,000 | ||||
Total Non-Accruing | 13,336,000 | 14,934,000 | ||||
Loans, net of unearned income | 1,320,897,000 | 1,277,717,000 | 1,152,418,000 | |||
Permanent Mortgage Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 478,781,000 | 582,041,000 | ||||
Total Non-Accruing | 32,927,000 | 40,201,000 | ||||
Loans, net of unearned income | 511,708,000 | 538,961,000 | 622,242,000 | |||
Credit Card And Other Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 337,591,000 | 332,396,000 | ||||
Total Non-Accruing | 755,000 | 1,396,000 | ||||
Loans, net of unearned income | 338,346,000 | 358,131,000 | 333,792,000 | |||
General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 7,632,751,000 | 6,648,913,000 | ||||
Total Non-Accruing | 20,877,000 | 39,111,000 | ||||
Loans, net of unearned income | 7,653,628,000 | 6,688,024,000 | ||||
Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 1,641,553,000 | 709,411,000 | ||||
Total Non-Accruing | 119,000 | 141,000 | ||||
Loans, net of unearned income | 1,641,672,000 | 709,552,000 | ||||
TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 325,382,000 | [3] | 335,543,000 | [4] | ||
Total Non-Accruing | 12,815,000 | [3] | 13,115,000 | [4] | ||
Loans, net of unearned income | 338,197,000 | [3] | 348,658,000 | [4] | ||
LOCOM valuation allowance | 26,200,000 | 26,600,000 | ||||
Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 1,250,480,000 | 1,060,798,000 | ||||
Total Non-Accruing | 13,336,000 | 12,216,000 | ||||
Loans, net of unearned income | 1,263,816,000 | 1,073,014,000 | ||||
Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 31,656,000 | 37,798,000 | ||||
Total Non-Accruing | 0 | 2,718,000 | ||||
Loans, net of unearned income | 31,656,000 | 40,516,000 | ||||
Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 2,281,475,000 | 2,660,956,000 | ||||
Total Non-Accruing | 83,335,000 | 86,861,000 | ||||
Loans, net of unearned income | 2,364,810,000 | 2,747,817,000 | ||||
R E Installment Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 2,519,542,000 | 2,464,334,000 | ||||
Total Non-Accruing | 36,065,000 | 45,160,000 | ||||
Loans, net of unearned income | 2,555,607,000 | 2,509,494,000 | ||||
Credit Card | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 179,949,000 | 183,443,000 | ||||
Total Non-Accruing | 0 | 0 | ||||
Loans, net of unearned income | 179,949,000 | 183,443,000 | ||||
Other Consumer Loans Class | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 157,633,000 | 148,953,000 | ||||
Total Non-Accruing | 755,000 | 1,396,000 | ||||
Loans, net of unearned income | 158,388,000 | 150,349,000 | ||||
C&I Purchase Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 4,858,000 | 6,761,000 | ||||
Total Non-Accruing | 0 | 0 | ||||
Loans, net of unearned income | 4,858,000 | 6,761,000 | ||||
CRE Purchase Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 25,425,000 | 38,888,000 | ||||
Total Non-Accruing | 0 | 0 | ||||
Loans, net of unearned income | 25,425,000 | 38,888,000 | ||||
RE Installment Purchase Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 2,400,000 | 703,000 | ||||
Total Non-Accruing | 0 | 0 | ||||
Loans, net of unearned income | 2,400,000 | 703,000 | ||||
Other Purchased Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Accruing | 9,000 | 0 | ||||
Total Non-Accruing | 0 | 0 | ||||
Loans, net of unearned income | 9,000 | 0 | ||||
Accruing | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 16,453,914,000 | 14,772,541,000 | ||||
30-89 Days Past Due | 50,037,000 | 79,406,000 | ||||
90+ Days Past Due | 27,943,000 | 26,595,000 | ||||
Total Accruing | 16,531,894,000 | 14,878,542,000 | ||||
Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 9,597,421,000 | 7,679,585,000 | ||||
30-89 Days Past Due | 6,206,000 | 19,121,000 | ||||
90+ Days Past Due | 917,000 | 1,922,000 | ||||
Accruing | Consumer Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 4,755,086,000 | 5,072,914,000 | ||||
30-89 Days Past Due | 32,677,000 | 34,546,000 | ||||
90+ Days Past Due | 15,654,000 | 18,533,000 | ||||
Accruing | Commercial Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 1,303,201,000 | 1,118,874,000 | ||||
30-89 Days Past Due | 752,000 | 17,067,000 | ||||
90+ Days Past Due | 3,608,000 | 1,543,000 | ||||
Accruing | Permanent Mortgage Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 464,677,000 | 573,095,000 | ||||
30-89 Days Past Due | 8,019,000 | 6,101,000 | ||||
90+ Days Past Due | 6,085,000 | 2,845,000 | ||||
Accruing | Credit Card And Other Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 333,529,000 | 328,073,000 | ||||
30-89 Days Past Due | 2,383,000 | 2,571,000 | ||||
90+ Days Past Due | 1,679,000 | 1,752,000 | ||||
Accruing | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 7,627,209,000 | 6,629,412,000 | ||||
30-89 Days Past Due | 5,291,000 | 19,049,000 | ||||
90+ Days Past Due | 251,000 | 452,000 | ||||
Accruing | Loans To Mortgage Companies [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 1,640,638,000 | 709,339,000 | ||||
30-89 Days Past Due | 915,000 | 72,000 | ||||
90+ Days Past Due | 0 | 0 | ||||
Accruing | TRUPs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 325,382,000 | [3] | 335,543,000 | [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 | 1,249,793,000 | 1,049,843,000 | ||||
30-89 Days Past Due | 687,000 | 10,955,000 | ||||
90+ Days Past Due | 0 | 0 | ||||
Accruing | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 31,591,000 | 37,516,000 | ||||
30-89 Days Past Due | 65,000 | 282,000 | ||||
90+ Days Past Due | 0 | 0 | ||||
Accruing | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 2,250,415,000 | 2,624,763,000 | ||||
30-89 Days Past Due | 20,698,000 | 23,734,000 | ||||
90+ Days Past Due | 10,362,000 | 12,459,000 | ||||
Accruing | R E Installment Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 2,502,363,000 | 2,447,448,000 | ||||
30-89 Days Past Due | 11,975,000 | 10,812,000 | ||||
90+ Days Past Due | 5,204,000 | 6,074,000 | ||||
Accruing | Credit Card | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 177,042,000 | 180,011,000 | ||||
30-89 Days Past Due | 1,467,000 | 1,810,000 | ||||
90+ Days Past Due | 1,440,000 | 1,622,000 | ||||
Accruing | Other Consumer Loans Class | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 156,478,000 | 148,062,000 | ||||
30-89 Days Past Due | 916,000 | 761,000 | ||||
90+ Days Past Due | 239,000 | 130,000 | ||||
Accruing | C&I Purchase Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 4,192,000 | 5,291,000 | ||||
30-89 Days Past Due | 0 | 0 | ||||
90+ Days Past Due | 666,000 | 1,470,000 | ||||
Accruing | CRE Purchase Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 21,817,000 | 31,515,000 | ||||
30-89 Days Past Due | 0 | 5,830,000 | ||||
90+ Days Past Due | 3,608,000 | 1,543,000 | ||||
Accruing | RE Installment Purchase Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 2,308,000 | 703,000 | ||||
30-89 Days Past Due | 4,000 | 0 | ||||
90+ Days Past Due | 88,000 | 0 | ||||
Accruing | Other Purchased Credit Impaired Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 9,000 | 0 | ||||
30-89 Days Past Due | 0 | 0 | ||||
90+ Days Past Due | 0 | 0 | ||||
Non-Accruing | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 114,096,000 | 137,896,000 | ||||
30-89 Days Past Due | 23,665,000 | 14,600,000 | ||||
90+ Days Past Due | 62,468,000 | 88,423,000 | ||||
Total Non-Accruing | 200,229,000 | 240,919,000 | ||||
Non-Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 1,441,000 | 16,332,000 | ||||
30-89 Days Past Due | 10,445,000 | 3,341,000 | ||||
90+ Days Past Due | 21,925,000 | 32,694,000 | ||||
Non-Accruing | Consumer Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 94,491,000 | 102,430,000 | ||||
30-89 Days Past Due | 7,651,000 | 8,881,000 | ||||
90+ Days Past Due | 17,258,000 | 20,710,000 | ||||
Non-Accruing | Commercial Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 1,454,000 | 1,814,000 | ||||
30-89 Days Past Due | 2,817,000 | 330,000 | ||||
90+ Days Past Due | 9,065,000 | 12,790,000 | ||||
Non-Accruing | Permanent Mortgage Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 16,710,000 | 15,924,000 | ||||
30-89 Days Past Due | 2,752,000 | 2,048,000 | ||||
90+ Days Past Due | 13,465,000 | 22,229,000 | ||||
Non-Accruing | Credit Card And Other Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 0 | 1,396,000 | ||||
30-89 Days Past Due | 0 | 0 | ||||
90+ Days Past Due | 755,000 | 0 | ||||
Non-Accruing | General C I [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 1,441,000 | 16,332,000 | ||||
30-89 Days Past Due | 10,445,000 | 3,341,000 | ||||
90+ Days Past Due | 8,991,000 | 19,438,000 | ||||
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 | 119,000 | 141,000 | ||||
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 | 12,815,000 | [3] | 13,115,000 | [4] | ||
Non-Accruing | Income C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 1,454,000 | 1,814,000 | ||||
30-89 Days Past Due | 2,817,000 | 330,000 | ||||
90+ Days Past Due | 9,065,000 | 10,072,000 | ||||
Non-Accruing | Residential C R E [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 0 | 0 | ||||
30-89 Days Past Due | 0 | 0 | ||||
90+ Days Past Due | 0 | 2,718,000 | ||||
Non-Accruing | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 66,743,000 | 67,361,000 | ||||
30-89 Days Past Due | 5,075,000 | 5,395,000 | ||||
90+ Days Past Due | 11,517,000 | 14,105,000 | ||||
Non-Accruing | R E Installment Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Current | 27,748,000 | 35,069,000 | ||||
30-89 Days Past Due | 2,576,000 | 3,486,000 | ||||
90+ Days Past Due | 5,741,000 | 6,605,000 | ||||
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 | 1,396,000 | ||||
30-89 Days Past Due | 0 | 0 | ||||
90+ Days Past Due | 755,000 | 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] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | |||||
[2] | (a) Balances as of March 31, 2015 and 2014, and December 31, 2014 include $71.6 million, $86.7 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - 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 $26.6 million. |
Loans_Schedule_Of_Troubled_Deb
Loans (Schedule Of Troubled Debt Restructurings Occurring During The Year) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
number | number | |
General C I [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 2 | 0 |
Pre-Modification Outstanding Recorded Investment | $1,388 | $0 |
Post-Modification Outstanding Recorded Investment | 1,325 | 0 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 2 | 0 |
Pre-Modification Outstanding Recorded Investment | 1,388 | 0 |
Post-Modification Outstanding Recorded Investment | 1,325 | 0 |
Income C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Residential C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 37 | 67 |
Pre-Modification Outstanding Recorded Investment | 3,727 | 5,790 |
Post-Modification Outstanding Recorded Investment | 3,707 | 5,768 |
R E Installment Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 16 | 72 |
Pre-Modification Outstanding Recorded Investment | 1,354 | 5,143 |
Post-Modification Outstanding Recorded Investment | 1,377 | 5,102 |
Consumer Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 53 | 139 |
Pre-Modification Outstanding Recorded Investment | 5,081 | 10,933 |
Post-Modification Outstanding Recorded Investment | 5,084 | 10,870 |
Permanent Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 2 | 12 |
Pre-Modification Outstanding Recorded Investment | 321 | 4,593 |
Post-Modification Outstanding Recorded Investment | 321 | 4,087 |
Credit Card And Other Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 6 | 20 |
Pre-Modification Outstanding Recorded Investment | 28 | 87 |
Post-Modification Outstanding Recorded Investment | 27 | 85 |
Troubled Debt Restructurings [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 63 | 171 |
Pre-Modification Outstanding Recorded Investment | 6,818 | 15,613 |
Post-Modification Outstanding Recorded Investment | $6,757 | $15,042 |
Loans_Schedule_Of_Troubled_Deb1
Loans (Schedule Of Troubled Debt Restructurings Within The Previous 12 Months) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
number | number | |
General C I [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 4 |
Recorded Investment | $0 | $512,000 |
Income C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 2 |
Recorded Investment | 0 | 389,000 |
Residential C R E [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 0 |
Recorded Investment | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 1 | 4 |
Recorded Investment | 30,000 | 307,000 |
R E Installment Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 1 | 3 |
Recorded Investment | 86,000 | 118,000 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 4 |
Recorded Investment | 0 | 512,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 2 |
Recorded Investment | 0 | 389,000 |
Consumer Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 2 | 7 |
Recorded Investment | 116,000 | 425,000 |
Credit Card And Other Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 1 | 2 |
Recorded Investment | 3,000 | 4,000 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 3 | 15 |
Recorded Investment | 119,000 | 1,330,000 |
Permanent Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | 0 | 0 |
Recorded Investment | $0 | $0 |
Allowance_For_Loan_Losses_Narr
Allowance For Loan Losses (Narrative) (Details) | Mar. 31, 2015 |
number | |
Unlikely to be Collected Financing Receivable | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 16 |
Commercial Loan L G D Grade One [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 1 |
Commercial Loan L G D Grade Twelve [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Commercial loan grades | 12 |
Allowance_For_Loan_Losses_Roll
Allowance For Loan Losses (Rollforward Of The Allowance For Loan Losses By Portfolio Segment) (Details) (USD $) | 3 Months Ended | |||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | $232,448,000 | $253,809,000 | ||||
Charge-offs | -17,999,000 | -24,692,000 | ||||
Recoveries | 8,879,000 | 8,129,000 | ||||
Provision for loan losses | 5,000,000 | 10,000,000 | ||||
Ending Balance | 228,328,000 | 247,246,000 | ||||
Allowance - individually evaluated for impairment | 66,361,000 | 69,782,000 | ||||
Allowance - collectively evaluated for impairment | 158,872,000 | 175,565,000 | ||||
Allowance - purchased credit impaired loans | 3,095,000 | 1,899,000 | ||||
Individually evaluated for impairment | 348,158,000 | 377,861,000 | ||||
Collectively evaluated for impairment | 16,351,273,000 | 14,695,248,000 | ||||
Purchase credit impaired loans - recorded investment | 32,692,000 | 46,352,000 | ||||
Loans, net of unearned income | 16,732,123,000 | [1] | 15,119,461,000 | 16,230,166,000 | ||
Commercial Financial And Industrial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 67,011,000 | 86,446,000 | ||||
Charge-offs | -3,555,000 | -5,807,000 | ||||
Recoveries | 1,953,000 | 1,602,000 | ||||
Provision for loan losses | 2,243,000 | -9,509,000 | ||||
Ending Balance | 67,652,000 | 72,732,000 | ||||
Allowance - individually evaluated for impairment | 6,019,000 | 5,187,000 | ||||
Allowance - collectively evaluated for impairment | 61,440,000 | 67,477,000 | ||||
Allowance - purchased credit impaired loans | 193,000 | 68,000 | ||||
Individually evaluated for impairment | 52,697,000 | 54,968,000 | ||||
Collectively evaluated for impairment | 9,580,800,000 | 7,691,266,000 | ||||
Purchase credit impaired loans - recorded investment | 4,858,000 | 6,761,000 | ||||
Loans, net of unearned income | 9,638,355,000 | 7,752,995,000 | 9,007,286,000 | |||
Commercial Real Estate Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 18,574,000 | 10,603,000 | ||||
Charge-offs | -787,000 | -627,000 | ||||
Recoveries | 691,000 | 279,000 | ||||
Provision for loan losses | -813,000 | 5,268,000 | ||||
Ending Balance | 17,665,000 | 15,523,000 | ||||
Allowance - individually evaluated for impairment | 611,000 | 1,495,000 | ||||
Allowance - collectively evaluated for impairment | 14,642,000 | 12,207,000 | ||||
Allowance - purchased credit impaired loans | 2,412,000 | 1,821,000 | ||||
Individually evaluated for impairment | 12,528,000 | 26,701,000 | ||||
Collectively evaluated for impairment | 1,282,944,000 | 1,086,829,000 | ||||
Purchase credit impaired loans - recorded investment | 25,425,000 | 38,888,000 | ||||
Loans, net of unearned income | 1,320,897,000 | 1,152,418,000 | 1,277,717,000 | |||
Consumer Real Estate Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 113,011,000 | 126,785,000 | ||||
Charge-offs | -8,537,000 | -12,264,000 | ||||
Recoveries | 4,724,000 | 4,974,000 | ||||
Provision for loan losses | 47,000 | 3,914,000 | ||||
Ending Balance | 109,245,000 | 123,409,000 | ||||
Allowance - individually evaluated for impairment | 41,737,000 | 43,653,000 | ||||
Allowance - collectively evaluated for impairment | 67,018,000 | 79,746,000 | ||||
Allowance - purchased credit impaired loans | 490,000 | 10,000 | ||||
Individually evaluated for impairment | 171,611,000 | 173,577,000 | ||||
Collectively evaluated for impairment | 4,748,806,000 | 5,083,734,000 | ||||
Purchase credit impaired loans - recorded investment | 2,400,000 | 703,000 | ||||
Loans, net of unearned income | 4,922,817,000 | [2] | 5,258,014,000 | [2] | 5,048,071,000 | [2] |
Permanent Mortgage Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 19,122,000 | 22,491,000 | ||||
Charge-offs | -1,184,000 | -2,218,000 | ||||
Recoveries | 618,000 | 578,000 | ||||
Provision for loan losses | 1,630,000 | 1,670,000 | ||||
Ending Balance | 20,186,000 | 22,521,000 | ||||
Allowance - individually evaluated for impairment | 17,766,000 | 19,211,000 | ||||
Allowance - collectively evaluated for impairment | 2,420,000 | 3,310,000 | ||||
Allowance - purchased credit impaired loans | 0 | 0 | ||||
Individually evaluated for impairment | 110,838,000 | 121,843,000 | ||||
Collectively evaluated for impairment | 400,870,000 | 500,399,000 | ||||
Purchase credit impaired loans - recorded investment | 0 | 0 | ||||
Loans, net of unearned income | 511,708,000 | 622,242,000 | 538,961,000 | |||
Credit Card & Other | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Beginning Balance | 14,730,000 | 7,484,000 | ||||
Charge-offs | -3,936,000 | -3,776,000 | ||||
Recoveries | 893,000 | 696,000 | ||||
Provision for loan losses | 1,893,000 | 8,657,000 | ||||
Ending Balance | 13,580,000 | 13,061,000 | ||||
Allowance - individually evaluated for impairment | 228,000 | 236,000 | ||||
Allowance - collectively evaluated for impairment | 13,352,000 | 12,825,000 | ||||
Allowance - purchased credit impaired loans | 0 | 0 | ||||
Individually evaluated for impairment | 484,000 | 772,000 | ||||
Collectively evaluated for impairment | 337,853,000 | 333,020,000 | ||||
Purchase credit impaired loans - recorded investment | 9,000 | 0 | ||||
Loans, net of unearned income | $338,346,000 | $333,792,000 | $358,131,000 | |||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | |||||
[2] | (a) Balances as of March 31, 2015 and 2014, and December 31, 2014 include $71.6 million, $86.7 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - Variable Interest Entities for additional information. |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | Mar. 31, 2015 |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Gross carrying amount of other intangible assets | $70,300,000 |
Intangible assets accumulated amortization | 42,100,000 |
Future Amortization Expense, Remainder of Fiscal Year | 3,900,000 |
Estimated aggregate amortization expense, Year 2016 | 5,000,000 |
Estimated aggregate amortization expense, Year 2017 | 4,700,000 |
Estimated aggregate amortization expense, Year 2018 | 4,500,000 |
Estimated aggregate amortization expense, Year 2019 | 4,200,000 |
Estimated aggregate amortization expense, Year 2020 | $1,500,000 |
Intangible_Assets_Summary_Of_I
Intangible Assets (Summary Of Intangible Assets, Net Of Accumulated Amortization Included In The Consolidated Statements) (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Goodwill, Beginning balance | $145,932,000 | $141,943,000 | ||
Goodwill, Amortization expense | 0 | 0 | ||
Goodwill, Ending balance | 145,932,000 | 141,943,000 | ||
Other Intangible Assets, Beginning Balance | 29,518,000 | [1] | 21,988,000 | [1] |
Other Intangible Assets, Amortization expense | -1,298,000 | -981,000 | ||
Other Intangible Assets, Ending Balance | $28,220,000 | [1] | $21,007,000 | [1] |
[1] | (a) 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 $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill [Line Items] | ||||
Gross goodwill | $345,927,000 | $341,938,000 | $345,927,000 | $341,938,000 |
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 | 145,932,000 | 141,943,000 |
Additions | 0 | 0 | ||
Impairments | 0 | 0 | ||
Divestitures | 0 | 0 | ||
Net change in goodwill | 0 | 0 | ||
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 | ||
Impairments | 0 | 0 | ||
Divestitures | 0 | 0 | ||
Net change in goodwill | 0 | 0 | ||
Regional Banking [Member] | ||||
Goodwill [Line Items] | ||||
Gross goodwill | 47,928,000 | 43,939,000 | 47,928,000 | 43,939,000 |
Accumulated impairments | 0 | 0 | 0 | 0 |
Accumulated divestiture related write-offs | 0 | 0 | 0 | 0 |
Goodwill | 47,928,000 | 43,939,000 | 47,928,000 | 43,939,000 |
Additions | 0 | 0 | ||
Impairments | 0 | 0 | ||
Divestitures | 0 | 0 | ||
Net change in goodwill | 0 | 0 | ||
Capital Markets [Member] | ||||
Goodwill [Line Items] | ||||
Gross goodwill | 98,004,000 | 98,004,000 | 98,004,000 | 98,004,000 |
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 | 98,004,000 |
Additions | 0 | 0 | ||
Impairments | 0 | 0 | ||
Divestitures | 0 | 0 | ||
Net change in goodwill | $0 | $0 |
Other_Income_And_Other_Expense2
Other Income And Other Expense (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
All other income and commissions: | ||||
ATM interchange fees | $2,761,000 | $2,497,000 | ||
Electronic banking fees | 1,428,000 | 1,534,000 | ||
Letter of credit fees | 1,123,000 | 1,663,000 | ||
Deferred compensation | 1,033,000 | [1] | 657,000 | [1] |
Gains Losses On Extinguishment Of Debt | 0 | -4,350,000 | ||
Other | 3,125,000 | 2,893,000 | ||
Total | 9,470,000 | 4,894,000 | ||
All other expense: | ||||
Litigation and regulatory matters | 162,500,000 | 90,000 | ||
Other insurance and taxes | 3,329,000 | 3,060,000 | ||
Travel and entertainment | 1,614,000 | 1,824,000 | ||
Customer relations | 1,314,000 | 1,243,000 | ||
Employee training and dues | 1,132,000 | 866,000 | ||
Supplies | 927,000 | 1,116,000 | ||
Tax credit investments | 395,000 | 325,000 | ||
Miscellaneous loan costs | 361,000 | 714,000 | ||
Other | 8,423,000 | 9,245,000 | ||
Total | $179,995,000 | $18,483,000 | ||
[1] | (a) Deferred compensation market value adjustments are mirrored by adjustments to employee compensation, incentives, and benefits expense. |
Recovered_Sheet3
Changes In Accumulated Other Comprehensive Income Balances (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Beginning Balance | ($188,246,000) | ($150,009,000) | ||
Other comprehensive income before reclassifications, Net of tax | 18,004,000 | 9,479,000 | ||
Amounts reclassifed from accumulated other comprehensive income, Net of tax | 1,083,000 | 411,000 | ||
Other comprehensive income/(loss) | 19,087,000 | [1] | 9,890,000 | [1] |
Ending Balance | -169,159,000 | -140,119,000 | ||
Reclassification From Accumulated Other Comprehensive Income Current Period Tax | 700,000 | 300,000 | ||
Unrealized Gain Loss On Securities Available For Sale [Member] | ||||
Beginning Balance | 18,581,000 | -11,241,000 | ||
Other comprehensive income before reclassifications, Net of tax | 18,004,000 | 9,479,000 | ||
Amounts reclassifed from accumulated other comprehensive income, Net of tax | 0 | 0 | ||
Other comprehensive income/(loss) | 18,004,000 | 9,479,000 | ||
Ending Balance | 36,585,000 | -1,762,000 | ||
Other Comprehensive Income Loss Current Period Before Reclassification Adjustments, Tax | 11,300,000 | 5,900,000 | ||
OtherComprehensiveIncomeLossTax | 11,300,000 | 5,900,000 | ||
Pension And Other Postretirement Plans Costs [Member] | ||||
Beginning Balance | -206,827,000 | -138,768,000 | ||
Other comprehensive income before reclassifications, Net of tax | 0 | 0 | ||
Amounts reclassifed from accumulated other comprehensive income, Net of tax | 1,083,000 | 411,000 | ||
Other comprehensive income/(loss) | 1,083,000 | 411,000 | ||
Ending Balance | -205,744,000 | -138,357,000 | ||
Other Comprehensive Income Loss Current Period Before Reclassification Adjustments, Tax | 0 | 0 | ||
Reclassification From Accumulated Other Comprehensive Income Current Period Tax | 700,000 | 300,000 | ||
OtherComprehensiveIncomeLossTax | $700,000 | $300,000 | ||
[1] | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income/(loss) have been attributed solely to FHN as the controlling interest holder. |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Effect of dilutive securities | 0 | 2,218,000 |
Employee Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Stock options, weighted average exercise price | 17.17 | 26.09 |
Shares excluded from computation of earnings per share | 7,900,000 | 4,700,000 |
Other Equity Awards [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from computation of earnings per share | 2,500,000 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Reconciliation Of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders) (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share [Abstract] | ||
Net income/(loss) | ($72,405) | $49,979 |
Net income attributable to noncontrolling interest | 2,758 | 2,813 |
Net income/(loss) attributable to controlling interest | -75,163 | 47,166 |
Preferred stock dividends | 1,550 | 1,550 |
Net income/(loss) available to common shareholders | ($76,713) | $45,616 |
Weighted average common shares outstanding - basic | 232,816,000 | 235,183,000 |
Effect of dilutive securities | 0 | 2,218,000 |
Weighted average common shares outstanding - diluted | 232,816,000 | 237,401,000 |
Net income/(loss) per share available to common shareholders | ($0.33) | $0.19 |
Diluted income/(loss) per share | ($0.33) | $0.19 |
Contingencies_And_Other_Disclo2
Contingencies And Other Disclosures (Narrative I) (Details) (USD $) | 3 Months Ended | 32 Months Ended | 12 Months Ended | 1 Months Ended | |||||
Share data in Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Aug. 31, 2008 | Dec. 31, 2007 | Oct. 31, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Mar. 31, 2008 | Mar. 25, 2015 |
number | number | ||||||||
Loss Contingencies [Line Items] | |||||||||
Estimated Litigation Liability | $218,700,000 | ||||||||
Number of GSEs to which conventional conforming single-family mortgage loans were predominately sold to | 2 | ||||||||
Percent Of Repurchase Make Whole Claims Related To Private Whole Loan Sales | 48.00% | ||||||||
Loan-to-value ratio at origination | 80.00% | ||||||||
Accrued losses on loan repurchase exposure | 117,100,000 | 145,700,000 | |||||||
Unpaid principal balance of servicing portfolio | 241,700,000 | 15,000,000,000 | |||||||
Number of years of the subservicing arrangement | 3 years | ||||||||
Amount disputed related to various items for transfers of subservicers | 8,600,000 | ||||||||
Subservicer expenditure reimbursement amount disputed | 34,900,000 | ||||||||
Litigation And Regulatory Matters | 162,500,000 | 90,000 | |||||||
Fha Insured [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Estimated Litigation Liability | 212,500,000 | ||||||||
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 | ||||||||
Amount Of Insurance Recoveries Company Is Pursuing | 75,000,000 | ||||||||
Mortgage Securitization Litigation [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Investment in proprietary securitizations subject to lawsuits | 195,700,000 | ||||||||
Investment in proprietary securitizations subject to indemnifications | 613,900,000 | ||||||||
F H Proprietary Securitization [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of securitization trusts Active | 80 | ||||||||
Remaining balance in mortgage loans | 5,900,000,000 | ||||||||
Visa Class B Shares [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Number of Visa Class B shares | 1.1 | 2.4 | |||||||
Additional amount deposited into escrow account by Visa | 450,000,000 | ||||||||
Cash payment to counterparty | 2,400,000 | ||||||||
Estimated conversion ratio | 165.00% | ||||||||
Contingent liability | 800,000 | ||||||||
Derivative liability | 5,000,000 | 4,900,000 | |||||||
Historical cost | 0 | ||||||||
Alt-A [Member] | F H Proprietary Securitization [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Remaining balance in mortgage loans | 4,100,000,000 | ||||||||
Jumbo Mortgage Loans [Member] | F H Proprietary Securitization [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Remaining balance in mortgage loans | 1,800,000,000 | ||||||||
Minimum | |||||||||
Loss Contingencies [Line Items] | |||||||||
Estimated reasonably possible losses in excess of currently established liabilities | 0 | ||||||||
Minimum | Debit Transaction Sequencing Matter [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Actual damages sought by plaintiff | 5,000,000 | ||||||||
Maximum | |||||||||
Loss Contingencies [Line Items] | |||||||||
Estimated reasonably possible losses in excess of currently established liabilities | 100,000,000 | ||||||||
Investments Subject To Lawsuits [Member] | Mortgage Securitization Litigation [Member] | |||||||||
Loss Contingencies [Line Items] | |||||||||
Ending certificate balance of the investments subject to lawsuits and indemnification requests | $239,100,000 | ||||||||
Investments percentage performing | 85.00% | ||||||||
Cumulative losses on investments, percentage of unpaid balance | 6.00% |
Contingencies_And_Other_Disclo3
Contingencies And Other Disclosures (Schedule Of Original Purchase Amount Of Investments Subject To Litigation) (Details) (USD $) | Mar. 25, 2015 |
Alternativea Mortgage Loan Pools [Member] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | $727,042,000 |
Ending balance of the investments at issue | 217,072,000 |
Alternativea Mortgage Loan Pools [Member] | 2005 [Member] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | 202,417,000 |
Ending balance of the investments at issue | 49,500,000 |
Alternativea Mortgage Loan Pools [Member] | 2006 [Member] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | 325,613,000 |
Ending balance of the investments at issue | 85,171,000 |
Alternativea Mortgage Loan Pools [Member] | 2007 [Member] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | 199,012,000 |
Ending balance of the investments at issue | 82,401,000 |
Jumbo Mortgage Loans [Member] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | 82,540,000 |
Ending balance of the investments at issue | 22,045,000 |
Jumbo Mortgage Loans [Member] | 2005 [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] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | 32,540,000 |
Ending balance of the investments at issue | 7,769,000 |
Jumbo Mortgage Loans [Member] | 2007 [Member] | |
Loss Contingencies [Line Items] | |
Original purchase amounts of the investments at issue | 50,000,000 |
Ending balance of the investments at issue | $14,276,000 |
Pension_Savings_And_Other_Empl2
Pension, Savings, And Other Employee Benefits (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | ||||
Estimated social security benefits age | 65 years 0 months | |||
Non Qualified Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Contributions to non-qualified plans | $5 | $5 | ||
Savings Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer investment in qualified defined contribution plan | 100.00% | 100.00% | ||
Maximum percent of employee pre-tax contributions that may be matched by the Company | 6.00% | 6.00% |
Pension_Savings_And_Other_Empl3
Pension, Savings, And Other Employee Benefits (Schedule Of Components Of Net Periodic Benefit Cost) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Pension Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $10 | $17 |
Interest cost | 9,020 | 8,660 |
Expected return on plan assets | -9,392 | -10,018 |
Amortization of unrecognized, Prior service cost/(credit) | 83 | 87 |
Amortization of unrecognized, Actuarial (gain)/loss | 2,396 | 1,635 |
Net periodic benefit cost | 2,117 | 381 |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 37 | 55 |
Interest cost | 360 | 458 |
Expected return on plan assets | -241 | -255 |
Amortization of unrecognized, Prior service cost/(credit) | -291 | -291 |
Amortization of unrecognized, Actuarial (gain)/loss | -244 | -126 |
Net periodic benefit cost | ($379) | ($159) |
Business_Segment_Information_A
Business Segment Information (Amounts Of Consolidated Revenue, Expense, Tax And Assets) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Net interest income | $156,866,000 | $152,359,000 |
Provision/(provision credit) for loan losses | 5,000,000 | 10,000,000 |
Noninterest income | 129,689,000 | 145,730,000 |
Noninterest expense | 376,221,000 | 218,044,000 |
Income/(loss) before income taxes | -94,666,000 | 70,045,000 |
Provision/(benefit) for income taxes | -22,261,000 | 20,066,000 |
Net income/(loss) | -72,405,000 | 49,979,000 |
Average assets | 25,644,604,000 | 23,910,853,000 |
Regional Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 154,409,000 | 142,026,000 |
Provision/(provision credit) for loan losses | 4,915,000 | 12,990,000 |
Noninterest income | 60,204,000 | 59,992,000 |
Noninterest expense | 135,780,000 | 132,543,000 |
Income/(loss) before income taxes | 73,918,000 | 56,485,000 |
Provision/(benefit) for income taxes | 26,381,000 | 20,083,000 |
Net income/(loss) | 47,537,000 | 36,402,000 |
Average assets | 14,228,116,000 | 12,615,394,000 |
Capital Markets [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 4,323,000 | 3,476,000 |
Noninterest income | 61,565,000 | 56,759,000 |
Noninterest expense | 54,683,000 | 52,598,000 |
Income/(loss) before income taxes | 11,205,000 | 7,637,000 |
Provision/(benefit) for income taxes | 4,167,000 | 2,843,000 |
Net income/(loss) | 7,038,000 | 4,794,000 |
Average assets | 2,446,267,000 | 2,038,368,000 |
Corporate [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | -16,084,000 | -9,923,000 |
Noninterest income | 5,385,000 | 13,215,000 |
Noninterest expense | 14,169,000 | 17,327,000 |
Income/(loss) before income taxes | -24,868,000 | -14,035,000 |
Provision/(benefit) for income taxes | -11,640,000 | -10,628,000 |
Net income/(loss) | -13,228,000 | -3,407,000 |
Average assets | 6,414,745,000 | 5,852,792,000 |
Non Strategic [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 14,218,000 | 16,780,000 |
Provision/(provision credit) for loan losses | 85,000 | -2,990,000 |
Noninterest income | 2,535,000 | 15,764,000 |
Noninterest expense | 171,589,000 | 15,576,000 |
Income/(loss) before income taxes | -154,921,000 | 19,958,000 |
Provision/(benefit) for income taxes | -41,169,000 | 7,768,000 |
Net income/(loss) | -113,752,000 | 12,190,000 |
Average assets | $2,555,476,000 | $3,404,299,000 |
Variable_Interest_Entities_Nar
Variable Interest Entities (Narrative) (Details) | Mar. 31, 2015 |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Assets: | |||||
Cash and due from banks | $282,800,000 | $349,171,000 | $450,270,000 | ||
Loans, net of unearned income | 16,732,123,000 | [1] | 16,230,166,000 | 15,119,461,000 | |
Allowance for loan losses | 228,328,000 | 232,448,000 | 247,246,000 | 253,809,000 | |
Total net loans | 16,503,795,000 | 15,997,718,000 | 14,872,215,000 | ||
Other assets | 1,419,204,000 | 1,385,572,000 | 1,429,704,000 | ||
Total assets | 25,715,888,000 | 25,668,187,000 | 23,936,836,000 | ||
Liabilities: | |||||
Term borrowings | 1,573,215,000 | 1,880,105,000 | 1,507,048,000 | ||
Other liabilities | 795,878,000 | 649,359,000 | 628,420,000 | ||
Total liabilities | 23,216,631,000 | 23,086,597,000 | 21,404,324,000 | ||
On Balance Sheet Consumer Loan Securitizations [Member] | |||||
Assets: | |||||
Cash and due from banks | 872,000 | 0 | |||
Loans, net of unearned income | 71,565,000 | 86,685,000 | |||
Allowance for loan losses | 341,000 | 1,954,000 | |||
Total net loans | 71,224,000 | 84,731,000 | |||
Other assets | 242,000 | 888,000 | |||
Total assets | 72,338,000 | 85,619,000 | |||
Liabilities: | |||||
Term borrowings | 60,914,000 | 77,119,000 | |||
Other liabilities | 4,000 | 5,000 | |||
Total liabilities | 60,918,000 | 77,124,000 | |||
Rabbi Trusts Used For Deferred Compensation Plans [Member] | |||||
Assets: | |||||
Other assets | 68,356,000 | 64,217,000 | |||
Total assets | 68,356,000 | 64,217,000 | |||
Liabilities: | |||||
Other liabilities | 52,349,000 | 50,423,000 | |||
Total liabilities | $52,349,000 | $50,423,000 | |||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. |
Variable_Interest_Entities_Sum1
Variable Interest Entities (Summary of the Impact of Qualifying LIHTC Investments) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Low income housing tax credits [Member] | ||
Variable Interest Entity [Line Items] | ||
Amortization of qualifying LIHTC investments | $2,180,000 | $2,470,000 |
Affordable Housing Tax Credits and Other Tax Benefits | -2,363,000 | -2,462,000 |
Other tax benefits related to qualifying LIHTC investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Affordable Housing Tax Credits and Other Tax Benefits | ($844,000) | ($1,855,000) |
Variable_Interest_Entities_Sum2
Variable Interest Entities (Summary Of VIE Not Consolidated By FHN) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Variable Interest Entity [Line Items] | |||||
Loans, net of unearned income | $16,732,123,000 | [1] | $16,230,166,000 | $15,119,461,000 | |
Term borrowings | 1,573,215,000 | 1,880,105,000 | 1,507,048,000 | ||
Trading securities | 1,532,463,000 | 1,194,391,000 | 1,194,749,000 | ||
Total MSR recognized by FHN | 2,342,000 | 4,687,000 | |||
Custodial balances | 5,060,897,000 | 5,195,656,000 | 4,534,245,000 | ||
Securities available for sale | 3,672,331,000 | [2] | 3,556,613,000 | 3,571,179,000 | [3] |
Low Income Housing Partnerships [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 58,971,000 | [4] | 63,409,147 | [5] | |
Maximum loss exposure, contractual funding commitments | 3,600,000 | 6,500,000 | |||
Liability Recognized | 3,608,761 | [4],[6] | 6,472,000 | [5] | |
Low Income Housing Partnerships [Member] | Other Assets Member | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure, current investments | 55,400,000 | 56,900,000 | [5] | ||
New Market Tax Credit Llcs [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 21,360,000 | [6],[7] | 22,492,000 | [8],[9] | |
Liability Recognized | 0 | [6],[7] | 0 | [8],[9] | |
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 | 364,352,000 | [10] | 375,247,000 | [11] | |
Liability Recognized | 0 | [10] | 0 | [11] | |
On Balance Sheet Trust Preferred Securitization [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 50,748,000 | [12] | 53,463,000 | [13] | |
Liability Recognized | 63,425,000 | [12] | 60,711,000 | [13] | |
Loans, net of unearned income | 112,500,000 | 112,500,000 | |||
Term borrowings | 63,400,000 | 60,700,000 | |||
Trading securities | 1,700,000 | 1,700,000 | |||
Proprietary Trust Preferred Issuances [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Liability Recognized | 206,186,000 | [14] | 206,186,000 | [15] | |
Proprietary Agency Residential Mortgage Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 25,786,000 | [16] | 54,559,000 | [17] | |
Liability Recognized | 0 | [16] | 0 | [17] | |
Proprietary Agency Residential Mortgage Securitizations [Member] | Other Assets Member | |||||
Variable Interest Entity [Line Items] | |||||
Aggregate servicing advances | 19,800,000 | 45,500,000 | |||
Holdings Of Agency Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 4,338,653,000 | [10],[18] | |||
Liability Recognized | 0 | [10],[18] | 0 | [19] | |
Trading securities | 859,700,000 | 537,300,000 | |||
Securities available for sale | 3,500,000,000 | 3,300,000,000 | |||
Short Positions In Agency Mortgage Backed Securities [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Liability Recognized | 1,586,000 | [15] | |||
Commercial Loan Troubled Debt Restructurings [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 39,015,000 | [20],[21] | 58,736,000 | [22],[23] | |
Maximum loss exposure, contractual funding commitments | 4,200,000 | 1,500,000 | |||
Liability Recognized | 0 | [20],[21] | 0 | ||
Loans, net of unearned income | 34,800,000 | 57,200,000 | |||
Proprietary Residential Mortgage Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Trading securities | 5,300,000 | 6,600,000 | |||
Total MSR recognized by FHN | 700,000 | 2,400,000 | |||
Agency Residential Mortgage Securitizations [Member] | |||||
Variable Interest Entity [Line Items] | |||||
Total MSR recognized by FHN | $700,000 | $2,400,000 | |||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | ||||
[2] | Includes $3.2billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[3] | Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[4] | Maximum loss exposure represents $55.4 million of current investments and $3.6 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. | ||||
[5] | Maximum loss exposure represents $56.9 million of current investments and $6.5 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. | ||||
[6] | A liability is not recognized as investments are written down over the life of the related tax credit. | ||||
[7] | Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||
[8] | A liability is not recognized as investments are written down over the life of the related tax credit. | ||||
[9] | Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. | ||||
[10] | Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trustsb securities. | ||||
[11] | Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trustsb securities. | ||||
[12] | Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $63.4 million classified as Term borrowings. | ||||
[13] | Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $60.7 million classified as Term borrowings. | ||||
[14] | No exposure to loss due to the nature of FHNbs involvement. | ||||
[15] | No exposure to loss due to the nature of FHNbs involvement. | ||||
[16] | Includes $.7million classified as MSR related to proprietary and agency residential mortgage securitizations and $5.3 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servicing advances of $19.8 million are classified as Other assets. | ||||
[17] | Includes $2.4million classified as MSR related to proprietary and agency residential mortgage securitizations and $6.6 million classified as Trading securities related to proprietary and agency residential mortgage securitizations. Aggregate servicing advances of $45.5 million are classified as Other assets. | ||||
[18] | Includes $859.7 million classified as Trading securities and $3.5 billion classified as Securities available-for-sale. | ||||
[19] | Includes $537.3 million classified as Trading securities and $3.3 billion classified as Securities available-for-sale. | ||||
[20] | Maximum loss exposure represents $34.8 million of current receivables and $4.2 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||
[21] | A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowersb operations. | ||||
[22] | Maximum loss exposure represents $57.2B million of current receivables and $1.5B million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. | ||||
[23] | A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowersb operations. |
Derivatives_Narrative_Details
Derivatives (Narrative) (Details) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Jan. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Collateral cash receivables | $93,400,000 | $101,800,000 | ||
Collateral cash payables | 56,800,000 | 82,500,000 | ||
Total trading revenues | 53,500,000 | 49,600,000 | ||
Other Long-term Debt | 1,573,215,000 | 1,507,048,000 | 1,880,105,000 | |
Hedged amount of foreign currency denominated loans | 3,800,000 | 800,000 | ||
Borrowings matured | 304,000,000 | |||
Visa Class B Shares [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative liabilities related to sale | 5,000,000 | 4,900,000 | ||
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 | 12,000,000 | 34,100,000 | ||
Other Long-term Debt | 250,000,000 | 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 | 6,900,000 | 16,000,000 | ||
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 | 5,500,000 | |||
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 | 2,700,000 | 16,400,000 | ||
Other Long-term Debt | 200,000,000 | 200,000,000 | ||
Additional Derivative Agreements [Member] | Derivative Instruments With Accelerated Termination Provisions [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Collateral received | 173,500,000 | 200,000,000 | ||
Securities posted collateral | 25,900,000 | 27,800,000 | ||
Net fair value of derivative assets with adjustable posting thresholds | 107,300,000 | 121,900,000 | ||
Net fair value of derivative liabilities with adjustable posting thresholds | 21,100,000 | 22,600,000 | ||
Additional Derivative Agreements [Member] | Derivative Instruments With Adjustable Collateral Posting Thresholds [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Collateral received | 173,500,000 | 200,000,000 | ||
Securities posted collateral | 84,700,000 | 92,500,000 | ||
Net fair value of derivative assets with adjustable posting thresholds | 107,300,000 | 121,900,000 | ||
Net fair value of derivative liabilities with adjustable posting thresholds | $84,500,000 | $90,300,000 |
Derivatives_Derivatives_Associ
Derivatives (Derivatives Associated with Capital Markets Trading Activities) (Details) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
Customer Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | $1,675,215,000 | $1,775,287,000 |
Assets | 83,797,000 | 76,173,000 |
Liabilities | 2,241,000 | 7,103,000 |
Offsetting Upstream Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 1,675,215,000 | 1,775,287,000 |
Assets | 2,241,000 | 7,103,000 |
Liabilities | 83,797,000 | 76,173,000 |
Put Option [Member] | ShortMember | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 7,500,000 | |
Assets | 0 | |
Liabilities | 12,000 | |
Put Option [Member] | LongMember | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 12,500,000 | 10,000,000 |
Assets | 60,000 | 29,000 |
Liabilities | 0 | 0 |
Forwards And Futures Purchased [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 3,181,574,000 | 2,234,232,000 |
Assets | 5,805,000 | 1,738,000 |
Liabilities | 538,000 | 1,260,000 |
Forwards And Futures Sold [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 3,511,607,000 | 2,607,585,000 |
Assets | 1,105,000 | 2,277,000 |
Liabilities | $7,290,000 | $1,478,000 |
Derivatives_Derivatives_Associ1
Derivatives (Derivatives Associated With Interest Rate Risk Management Activities) (Details) (USD $) | 3 Months Ended | ||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Term borrowings | $1,573,215,000 | $1,507,048,000 | $1,880,105,000 | ||
Customer Interest Rate Contracts [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional | 1,675,215,000 | 1,775,287,000 | |||
Assets | 83,797,000 | 76,173,000 | |||
Liabilities | 2,241,000 | 7,103,000 | |||
Customer Interest Rate Contracts [Member] | Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional | 682,318,000 | [1] | 742,710,000 | [1] | |
Assets | 30,204,000 | [1] | 26,742,000 | [1] | |
Liabilities | 307,000 | [1] | 2,310,000 | [1] | |
Gains/(Losses) | 4,243,000 | [1] | -645,000 | [1] | |
Offsetting Upstream Interest Rate Contracts [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional | 1,675,215,000 | 1,775,287,000 | |||
Assets | 2,241,000 | 7,103,000 | |||
Liabilities | 83,797,000 | 76,173,000 | |||
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 | 682,318,000 | [1] | 758,882,000 | [1] | |
Assets | 307,000 | [1] | 2,310,000 | [1] | |
Liabilities | 30,704,000 | [1] | 27,242,000 | [1] | |
Gains/(Losses) | -4,243,000 | [1] | 645,000 | [1] | |
Interest Rate Swap [Member] | Debt [Member] | Hedging Instruments [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Notional | 1,350,000,000 | [2] | 1,254,000,000 | [2] | |
Assets | 24,368,000 | [2] | 50,092,000 | [2] | |
Liabilities | 2,677,000 | [2] | 16,409,000 | [2] | |
Gains/(Losses) | -18,865,000 | [2] | 389,000 | [2] | |
Long Term Debt [Member] | Debt [Member] | Hedged Items [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Term borrowings | 1,350,000,000 | [2],[3] | 1,254,000,000 | [2],[3] | |
Gains/(Losses) related to term borrowings | $18,912,000 | [2],[4] | ($389,000) | [2],[4] | |
[1] | Gains/losses included in the Other expense section of the Consolidated Condensed Statements of Income. | ||||
[2] | Gains/losses included in the All other income and commissions section of the Consolidated Condensed 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 $) | 3 Months Ended | ||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Loans, net of unearned income | $16,732,123,000 | [1] | $15,119,461,000 | $16,230,166,000 | |
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 | 703,000 | 943,000 | |||
Gains/(Losses) | 41,000 | 63,000 | |||
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 | [2],[3] | 6,500,000 | [2],[3] | |
Gains/(Losses) | ($41,000) | [3],[4] | ($63,000) | [3],[4] | |
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | ||||
[2] | Represents principal balance being hedged. | ||||
[3] | Assets included in the Loans, net of unearned income section of the Consolidated Condensed Statements of Condition. | ||||
[4] | Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. |
Derivative_Assets_And_Collater
Derivative Assets And Collateral Received (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Derivative [Line Items] | |||||
Gross amounts of recognized assets | $148,153,000 | $134,088,000 | $166,465,000 | ||
Derivative Assets not subject to master netting agreements | 7,200,000 | 4,000,000 | |||
Subject to Master Netting Agreements | |||||
Derivative [Line Items] | |||||
Gross amounts of recognized assets | 140,917,000 | [1] | 162,420,000 | [1] | |
Gross amounts offset in the Statement of Condition | 0 | [1] | 0 | [2] | |
Net amounts of assets presented in the Statement of Condition | 140,917,000 | [1],[2] | 162,420,000 | [1],[2] | |
Derivative liabilities available for offset | -14,053,000 | [1] | -33,495,000 | [2] | |
Collateral Received | -126,820,000 | [1] | -128,810,000 | [2] | |
Net amount | 44,000 | [1] | 115,000 | [2] | |
Derivatives, Interest Rate Contracts | Subject to Master Netting Agreements | |||||
Derivative [Line Items] | |||||
Gross amounts of recognized assets | 140,917,000 | 162,420,000 | |||
Net amounts of assets presented in the Statement of Condition | $140,917,000 | $162,420,000 | |||
[1] | 2015 and 2014are comprised entirely of interest rate derivative contracts. | ||||
[2] | Included in Derivative Assets on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $7.2 million and $4.0 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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Derivative [Line Items] | |||||
Gross amounts of recognized liabilities | $133,273,000 | $119,239,000 | $137,863,000 | ||
Derivative Liabilities not subject to master netting agreements | 12,800,000 | 7,700,000 | |||
Subject to Master Netting Agreements | |||||
Derivative [Line Items] | |||||
Gross amounts of recognized liabilities | 120,429,000 | [1] | 130,180,000 | [1] | |
Gross amounts offset in the Statement of Condition | 0 | [1] | 0 | [1] | |
Net amounts of liabilities presented in the Statement of Condition | 120,429,000 | [1],[2] | 130,180,000 | [1],[2] | |
Derivative assets available for offset | -14,053,000 | [1] | -33,495,000 | [1] | |
Collateral pledged | -82,440,000 | [1] | -91,331,000 | [1] | |
Net amount | 23,936,000 | [1] | 5,354,000 | [1] | |
Derivatives, Interest Rate Contracts | Subject to Master Netting Agreements | |||||
Derivative [Line Items] | |||||
Gross amounts of recognized liabilities | 120,429,000 | ||||
Net amounts of liabilities presented in the Statement of Condition | $120,429,000 | ||||
[1] | 2015and 2014 are comprised entirely of interest rate derivative contracts. | ||||
[2] | Included in Derivative Liabilities on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $12.8 million and $7.7 million, respectively, 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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Securities Purchased under Agreements to Resell [Abstract] | |||
Gross amounts of recognized assets | $831,541,000 | $605,276,000 | |
Gross amounts offset in the Statement of Condition | 0 | 0 | |
Net amounts of assets presented in the Statement of Condition | 831,541,000 | 659,154,000 | 605,276,000 |
Offsetting securities sold under agreements to repurchase | -1,581,000 | -5,827,000 | |
Securities collateral (not recognized on FHN's Statement of Condition) | -823,157,000 | -591,273,000 | |
Net amount | $6,803,000 | $8,176,000 |
Securities_Sold_Under_Agreemen
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Counterparties (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Securities Sold Under Agreements To Repurchase [Abstract] | |||
Gross amounts of recognized liabilities | $309,297,000 | $411,795,000 | |
Gross amounts offset in the statement of Condition | 0 | 0 | |
Net amounts of liabilities presented in the Statement of Condition | 309,297,000 | 562,214,000 | 411,795,000 |
Offsetting securities purchased under agreements to resell | -1,581,000 | -5,827,000 | |
Securities Collateral | -307,637,000 | -405,908,000 | |
Net amount | $79,000 | $60,000 |
Fair_Value_Of_Assets_And_Liabi2
Fair Value Of Assets And Liabilities (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
number | ||
Fair Value Of Assets And Liabilities [Abstract] | ||
Gain/(loss) on instrument specific credit risk | $400,000 | $1,800,000 |
Number of levels assets and liabilities are grouped in | 3 |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | $1,532,463,000 | $1,194,391,000 | $1,194,749,000 | ||
Loans held-for-sale | 26,700,000 | 229,219,000 | |||
Securities available for sale | 3,672,331,000 | [1] | 3,556,613,000 | 3,571,179,000 | [2] |
Total MSR recognized by FHN | 2,342,000 | 4,687,000 | |||
Total other assets | 176,935,000 | 194,487,000 | |||
Total assets | 5,252,661,000 | 5,030,896,000 | |||
Total other liabilities | 133,273,000 | 137,863,000 | |||
Total liabilities | 946,414,000 | 805,120,000 | |||
Recurring | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 3,516,563,000 | 3,412,441,000 | |||
Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Securities available for sale | 25,870,000 | 26,482,000 | |||
Total MSR recognized by FHN | 0 | 0 | |||
Total other assets | 33,350,000 | 27,350,000 | |||
Total assets | 59,220,000 | 53,832,000 | |||
Total other liabilities | 7,828,000 | 2,738,000 | |||
Total liabilities | 7,828,000 | 2,738,000 | |||
Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Securities available for sale | 3,487,502,000 | 3,377,977,000 | |||
Total MSR recognized by FHN | 0 | 0 | |||
Total other assets | 141,243,000 | 162,450,000 | |||
Total assets | 5,155,882,000 | 4,728,583,000 | |||
Total other liabilities | 120,440,000 | 130,180,000 | |||
Total liabilities | 933,581,000 | 797,437,000 | |||
Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Loans held-for-sale | 26,700,000 | 229,219,000 | |||
Securities available for sale | 3,191,000 | 7,982,000 | |||
Total MSR recognized by FHN | 2,342,000 | 4,687,000 | |||
Total other assets | 2,342,000 | 4,687,000 | |||
Total assets | 37,559,000 | 248,481,000 | |||
Total other liabilities | 5,005,000 | 4,945,000 | |||
Total liabilities | 5,005,000 | 4,945,000 | |||
U.S. treasuries | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 100,000 | 39,990,000 | |||
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 | 39,990,000 | |||
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 | 762,850,000 | 792,562,000 | |||
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 | 762,850,000 | 792,562,000 | |||
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 | 2,716,147,000 | 2,531,770,000 | |||
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 | 2,716,147,000 | 2,531,770,000 | |||
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 | 1,691,000 | 2,182,000 | |||
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 | 1,691,000 | 2,182,000 | |||
States And Municipalities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 9,905,000 | 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 | 8,405,000 | 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 | |||
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 | 25,870,000 | 26,482,000 | |||
Equity, Mutual Funds, And Other | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Securities available for sale | 25,870,000 | 26,482,000 | |||
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 | 26,440,000 | 23,335,000 | |||
Deferred Compensation Assets | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 26,440,000 | 23,335,000 | |||
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 | 6,910,000 | 4,015,000 | |||
Total other liabilities | 7,828,000 | 2,738,000 | |||
Derivatives, Forwards And Futures | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 6,910,000 | 4,015,000 | |||
Total other liabilities | 7,828,000 | 2,738,000 | |||
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 | 140,976,000 | 162,450,000 | |||
Total other liabilities | 120,440,000 | 130,180,000 | |||
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 | 140,976,000 | 162,450,000 | |||
Total other liabilities | 120,440,000 | 130,180,000 | |||
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 | 267,000 | ||||
Total other liabilities | 5,005,000 | 4,945,000 | |||
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 | 267,000 | ||||
Total other liabilities | 0 | 0 | |||
Derivatives, Other | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Total other assets | 0 | ||||
Total other liabilities | 5,005,000 | 4,945,000 | |||
Capital Markets | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 1,527,142,000 | 1,188,161,000 | |||
Total trading liabilities - capital markets | 813,141,000 | 667,257,000 | |||
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 | 1,527,137,000 | 1,188,156,000 | |||
Total trading liabilities - capital markets | 813,141,000 | 667,257,000 | |||
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 | 108,199,000 | 145,136,000 | |||
Total trading liabilities - capital markets | 514,886,000 | 420,574,000 | |||
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 | 108,199,000 | 145,136,000 | |||
Total trading liabilities - capital markets | 514,886,000 | 420,574,000 | |||
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 | 547,569,000 | 412,994,000 | |||
Total trading liabilities - capital markets | 1,083,000 | ||||
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 | 547,569,000 | 412,994,000 | |||
Total trading liabilities - capital markets | 1,083,000 | ||||
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 | 312,086,000 | 124,304,000 | |||
Total trading liabilities - capital markets | 1,000 | 503,000 | |||
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 | |||
Total trading liabilities - capital markets | 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 | 312,086,000 | 124,304,000 | |||
Total trading liabilities - capital markets | 1,000 | 503,000 | |||
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 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Capital Markets | Other U.S. Government Agencies | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 161,317,000 | 86,672,000 | |||
Total trading liabilities - capital markets | 17,863,000 | 9,739,000 | |||
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 | 161,317,000 | 86,672,000 | |||
Total trading liabilities - capital markets | 17,863,000 | 9,739,000 | |||
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 | 57,181,000 | 29,787,000 | |||
Total trading liabilities - capital markets | 1,643,000 | 1,436,000 | |||
Capital Markets | States And Municipalities | 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 | States And Municipalities | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 57,181,000 | 29,787,000 | |||
Total trading liabilities - capital markets | 1,643,000 | 1,436,000 | |||
Capital Markets | States And Municipalities | 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 | Corporate And Other Debt | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 339,565,000 | 382,346,000 | |||
Total trading liabilities - capital markets | 276,748,000 | 233,287,000 | |||
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 | 339,560,000 | 382,341,000 | |||
Total trading liabilities - capital markets | 276,748,000 | 233,287,000 | |||
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 | 1,225,000 | 6,922,000 | |||
Total trading liabilities - capital markets | 2,000,000 | 635,000 | |||
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 | |||
Total trading liabilities - capital markets | 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 | 1,225,000 | 6,922,000 | |||
Total trading liabilities - capital markets | 2,000,000 | 635,000 | |||
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 | |||
Total trading liabilities - capital markets | 0 | 0 | |||
Mortgage Banking | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 5,321,000 | 6,588,000 | |||
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 | 5,321,000 | [3] | 6,588,000 | ||
Mortgage Banking | Certificated Principal Only | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 4,013,000 | 4,764,000 | |||
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 | 4,013,000 | 4,764,000 | |||
Mortgage Banking | Interest Only Trading Securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 83,000 | 339,000 | |||
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 | 83,000 | 339,000 | |||
Mortgage Banking | Subordinated Bonds | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 1,225,000 | 1,485,000 | |||
Mortgage Banking | Subordinated Bonds | Level 1 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Subordinated Bonds | Level 2 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | 0 | 0 | |||
Mortgage Banking | Subordinated Bonds | Level 3 | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Trading securities | $1,225,000 | $1,485,000 | |||
[1] | Includes $3.2billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[2] | Includes $3.3 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 and subordinated bonds are discussed in the Trading securities-mortgage 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 $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | |||
Trading Account Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | $5,643,000 | $7,200,000 | ||
Net income | 170,000 | -85,000 | ||
Other comprehensive income | 0 | 0 | ||
Purchases, assets | 0 | 1,559,000 | ||
Issuances, assets | 0 | 0 | ||
Sales, assets | 0 | -1,715,000 | ||
Settlements, assets | -487,000 | -366,000 | ||
Net transfers into/(out of) Level 3, assets | 0 | 0 | ||
Ending Balance | 5,326,000 | 6,593,000 | ||
Net unrealized gains/(losses) included in net income | 171,000 | [1] | 40,000 | [1] |
Loans Held For Sale [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 27,910,000 | 230,456,000 | ||
Net income | 1,142,000 | 1,187,000 | ||
Other comprehensive income | 0 | 0 | ||
Purchases, assets | 854,000 | 4,106,000 | ||
Issuances, assets | 0 | 0 | ||
Sales, assets | 0 | 0 | ||
Settlements, assets | -3,922,000 | -4,193,000 | ||
Net transfers into/(out of) Level 3, assets | 716,000 | [2] | -2,337,000 | [2] |
Ending Balance | 26,700,000 | 229,219,000 | ||
Net unrealized gains/(losses) included in net income | 1,142,000 | [1] | 1,187,000 | [1] |
Investment Portfolio [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 3,307,000 | 3,826,000 | ||
Net income | 0 | 0 | ||
Other comprehensive income | -14,000 | -17,000 | ||
Purchases, assets | 0 | 0 | ||
Issuances, assets | 0 | 0 | ||
Sales, assets | 0 | 0 | ||
Settlements, assets | -102,000 | -127,000 | ||
Net transfers into/(out of) Level 3, assets | 0 | 0 | ||
Ending Balance | 3,191,000 | 3,682,000 | ||
Net unrealized gains/(losses) included in net income | 0 | 0 | ||
Venture Capital Funds [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 4,300,000 | |||
Net income | 0 | |||
Other comprehensive income | 0 | |||
Purchases, assets | 0 | |||
Issuances, assets | 0 | |||
Sales, assets | 0 | |||
Settlements, assets | 0 | |||
Net transfers into/(out of) Level 3, assets | 0 | |||
Ending Balance | 4,300,000 | |||
Net unrealized gains/(losses) included in net income | 0 | |||
Mortgage Servicing Rights Net [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 2,517,000 | 72,793,000 | ||
Net income | 0 | 1,133,000 | ||
Other comprehensive income | 0 | 0 | ||
Purchases, assets | 0 | 0 | ||
Issuances, assets | 0 | 0 | ||
Sales, assets | 0 | -68,519,000 | ||
Settlements, assets | -175,000 | -720,000 | ||
Net transfers into/(out of) Level 3, assets | 0 | 0 | ||
Ending Balance | 2,342,000 | 4,687,000 | ||
Net unrealized gains/(losses) included in net income | 0 | [1] | 73,000 | [1] |
Net Derivative Liabilities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | -5,240,000 | -2,915,000 | ||
Net income | -57,000 | -2,341,000 | ||
Other comprehensive income | 0 | 0 | ||
Purchases, assets | 0 | 0 | ||
Issuances, assets | 0 | 0 | ||
Sales, assets | 0 | 0 | ||
Settlements, assets | 292,000 | 311,000 | ||
Net transfers into/(out of) Level 3, assets | 0 | 0 | ||
Ending Balance | -5,005,000 | -4,945,000 | ||
Net unrealized gains/(losses) included in other expense | ($57,000) | [3] | ($2,341,000) | [3] |
[1] | Primarily included in mortgage banking income on the Consolidated Condensed 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] | Included in Other expense. |
Fair_Value_Of_Assets_And_Liabi5
Fair Value Of Assets And Liabilities (Nonrecurring Fair Value Measurements) (Details) (USD $) | 3 Months Ended | ||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | $26,700,000 | $229,219,000 | |||
Loans, net of unearned income | 16,732,123,000 | [1] | 15,119,461,000 | 16,230,166,000 | |
Real estate acquired by foreclosure | 39,776,000 | [2] | 66,035,000 | 39,922,000 | |
Other assets | 176,935,000 | 194,487,000 | |||
Net gains/(losses), Loans, net of unearned income | -1,541,000 | [3] | -488,000 | [3] | |
Net gains/(losses), Real estate acquired by foreclosure | -376,000 | [4] | -858,000 | [4] | |
Net gains/(losses), Other assets | -395,000 | [5] | -325,000 | [5] | |
Gain (loss) on financial assets measured on non-recurring basis | -2,271,000 | -1,646,000 | |||
Fair Value Measurements Nonrecurring [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans, net of unearned income | 40,386,000 | [3] | 57,035,000 | [3] | |
Real estate acquired by foreclosure | 29,681,000 | [4] | 42,970,000 | [4] | |
Other assets | 28,265,000 | [5] | 30,445,000 | [5] | |
Fair Value Inputs Level2 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Other assets | 141,243,000 | 162,450,000 | |||
Fair Value Inputs Level2 [Member] | Fair Value Measurements Nonrecurring [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans, net of unearned income | 0 | [3] | 0 | [3] | |
Real estate acquired by foreclosure | 0 | [4] | 0 | [4] | |
Other assets | 0 | [5] | 0 | [5] | |
Fair Value Inputs Level3 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 26,700,000 | 229,219,000 | |||
Other assets | 2,342,000 | 4,687,000 | |||
Fair Value Inputs Level3 [Member] | Fair Value Measurements Nonrecurring [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans, net of unearned income | 40,386,000 | [3] | 57,035,000 | [3] | |
Real estate acquired by foreclosure | 29,681,000 | [4] | 42,970,000 | [4] | |
Other assets | 28,265,000 | [5] | 30,445,000 | [5] | |
Fair Value Inputs Level1 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Other assets | 33,350,000 | 27,350,000 | |||
Fair Value Inputs Level1 [Member] | Fair Value Measurements Nonrecurring [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans, net of unearned income | 0 | [3] | 0 | [3] | |
Real estate acquired by foreclosure | 0 | [4] | 0 | [4] | |
Other assets | 0 | [5] | 0 | [5] | |
First Mortgage [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 858,000 | 9,191,000 | |||
Net gains/(losses), Loans held for sale | 38,000 | -17,000 | |||
First Mortgage [Member] | Fair Value Inputs Level2 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
First Mortgage [Member] | Fair Value Inputs Level3 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 858,000 | 9,191,000 | |||
First Mortgage [Member] | Fair Value Inputs Level1 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 0 | 0 | |||
Small Business Administrations [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 3,211,000 | 3,494,000 | |||
Net gains/(losses), Loans held for sale | 3,000 | 42,000 | |||
Small Business Administrations [Member] | Fair Value Inputs Level2 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 3,211,000 | 3,494,000 | |||
Small Business Administrations [Member] | Fair Value Inputs Level3 [Member] | |||||
Fair Value Of Assets And Liabilities [Line Items] | |||||
Loans held-for-sale | 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 | |||
[1] | (b) March 31, 2015 includes $28.0 million of held-to-maturity consumer mortgage loans secured by residential real estate properties in process of foreclosure. | ||||
[2] | (c) March 31, 2015 includes $17.5 million of foreclosed residential real estate properties. | ||||
[3] | 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. | ||||
[4] | 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. | ||||
[5] | Represents tax credit investments accounted for under the equity method. |
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 $) | 3 Months Ended | ||||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Fair value of retained interests | 1,532,463,000 | 1,194,749,000 | $1,194,391,000 | ||
Loans held-for-sale | 26,700,000 | 229,219,000 | |||
Other Liabilities, Fair Value Disclosure | 133,273,000 | 137,863,000 | |||
Real estate acquired by foreclosure | 39,776,000 | [1] | 66,035,000 | 39,922,000 | |
Other assets | 176,935,000 | 194,487,000 | |||
Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Fair value of retained interests | 5,321,000 | 6,588,000 | |||
First Mortgages | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Loans held-for-sale | 858,000 | 9,191,000 | |||
Residential Real Estate | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Real estate acquired by foreclosure | 17,500,000 | ||||
Non Recurring | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Real estate acquired by foreclosure | 29,681,000 | [2] | 42,970,000 | [2] | |
Other assets | 28,265,000 | [3] | 30,445,000 | [3] | |
Derivatives, Other | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Other Liabilities, Fair Value Disclosure | 5,005,000 | 4,945,000 | |||
Other assets | 267,000 | ||||
Level 3 | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Loans held-for-sale | 26,700,000 | 229,219,000 | |||
Other Liabilities, Fair Value Disclosure | 5,005,000 | 4,945,000 | |||
Other assets | 2,342,000 | 4,687,000 | |||
Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Fair value of retained interests | 5,321,000 | [4] | 6,588,000 | ||
Level 3 | First Mortgages | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Loans held-for-sale | 858,000 | 9,191,000 | |||
Level 3 | Residential Real Estate | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Loans held-for-sale | 27,558,000 | 238,410,000 | |||
Level 3 | Non Recurring | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Loans, net of unearned income | 40,386,000 | [5] | 57,035,000 | [5] | |
Real estate acquired by foreclosure | 29,681,000 | [2] | 42,970,000 | [2] | |
Other assets | 28,265,000 | [3] | 30,445,000 | [3] | |
Level 3 | Derivatives, Other | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Other Liabilities, Fair Value Disclosure | 5,005,000 | 4,945,000 | |||
Other assets | 0 | ||||
Other Assets | Level 3 | Non Recurring | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Other assets | 28,265,000 | [6] | 30,445,000 | [6] | |
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 | 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 | |||
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 | |||
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 | 5,200,000,000 | |||
Maximum | Discounted Cash Flow | 2% - 22% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Prepayment Speeds | 22.00% | ||||
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 | 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 | 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 | 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 | 47- 49% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Discount rate | 49.00% | ||||
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% - 25% Values Utilized | Derivative Liabilities, Other | Level 3 | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Probability of resolution scenarios | 25.00% | ||||
Maximum | Discounted Cash Flow | 6% - 55% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Discount rate | 55.00% | ||||
Maximum | Discounted Cash Flow | 6 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 | 42% - 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 | 40 - 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 | 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 | 50 - 60 % Values Utilized | 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 | 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% | |||
Minimum | Discounted Cash Flow | Derivative Liabilities, Other | Level 3 | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Visa covered litigation resolution amount | 4,500,000,000 | 4,400,000,000 | |||
Minimum | Discounted Cash Flow | 2% - 22% 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 | 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 | 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 | 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 | 47- 49% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Discount rate | 47.00% | ||||
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% - 25% 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 | 6% - 55% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Discount rate | 6.00% | ||||
Minimum | Discounted Cash Flow | 6 Months to 48 Months | Derivative Liabilities, Other | Level 3 | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Time until resolution | 6 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 | 42% - 46% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Prepayment Speeds | 42.00% | ||||
Minimum | Discounted Cash Flow | 40 - 46% Values Utilized | Trading Securities | Level 3 | Mortgage Banking | |||||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||||
Prepayment Speeds | 40.00% | ||||
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 | 50 - 60 % Values Utilized | 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 | 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% | |||
[1] | (c) March 31, 2015 includes $17.5 million of foreclosed residential real estate properties. | ||||
[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 accounted for under the equity method. | ||||
[4] | The unobservable inputs for principal-only and interest-only trading securities and subordinated bonds are discussed in the Trading securities-mortgage paragraph. | ||||
[5] | 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. | ||||
[6] | Represents tax credit investments accounted for under the equity method. |
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 $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | $26,700 | $229,219 |
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 | 40,762 | 374,401 |
Nonaccrual loans | 13,023 | 133,600 |
Loans 90 days or more past due and still accruing | 1,686 | 15,010 |
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 | -14,062 | -145,182 |
Nonaccrual loans | -6,243 | -71,758 |
Loans 90 days or more past due and still accruing | -343 | -7,750 |
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 | 26,700 | 229,219 |
Nonaccrual loans | 6,780 | 61,842 |
Loans 90 days or more past due and still accruing | $1,343 | $7,260 |
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, Loans Held-For-Sale, USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Mortgage Banking Noninterest Income | 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 | $1,142 | $1,187 |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Total loans, net of unearned income and allowance for loan losses | $16,503,795,000 | $15,997,718,000 | $14,872,215,000 | ||
Short Term Financial Assets: | |||||
Total interest-bearing cash | 438,633,000 | 1,621,967,000 | 685,540,000 | ||
Total federal funds sold | 43,052,000 | 63,080,000 | 16,555,000 | ||
Securities purchased under agreements to resell | 831,541,000 | 659,154,000 | 605,276,000 | ||
Trading securities | 1,532,463,000 | 1,194,391,000 | 1,194,749,000 | ||
Loans held-for-sale | 133,958,000 | [1] | 141,285,000 | 361,359,000 | |
Securities available for sale | 3,672,331,000 | [2] | 3,556,613,000 | 3,571,179,000 | [3] |
Securities held-to-maturity (Note 3) | 4,299,000 | 4,292,000 | 4,274,000 | ||
Derivative assets | 148,153,000 | 134,088,000 | 166,465,000 | ||
Other Assets Financial Instruments | |||||
Total other assets | 176,935,000 | 194,487,000 | |||
Non Earning Assets | |||||
Cash and due from banks | 282,800,000 | 349,171,000 | 450,270,000 | ||
Capital markets receivables | 190,662,000 | 42,488,000 | 51,082,000 | ||
Total assets | 25,715,888,000 | 25,668,187,000 | 23,936,836,000 | ||
Deposits: | |||||
Total deposits | 18,638,554,000 | 18,068,939,000 | 16,672,743,000 | ||
Trading liabilities | 813,141,000 | 594,314,000 | 667,257,000 | ||
Short Term Financial Liabilities | |||||
Total federal funds purchased | 703,352,000 | 1,037,052,000 | 1,135,665,000 | ||
Securities sold under agreements to repurchase | 309,297,000 | 562,214,000 | 411,795,000 | ||
Other Short-term Borrowings | 158,745,000 | 157,218,000 | 204,023,000 | ||
Term Borrowings | |||||
Total long term borrowings | 1,573,215,000 | 1,880,105,000 | 1,507,048,000 | ||
Derivative liabilities | 133,273,000 | 119,239,000 | 137,863,000 | ||
Other noninterest-bearing liabilities | |||||
Capital markets payables | 91,176,000 | 18,157,000 | 39,510,000 | ||
Total liabilities | 23,216,631,000 | 23,086,597,000 | 21,404,324,000 | ||
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 | 16,503,795,000 | 14,872,215,000 | |||
Short Term Financial Assets: | |||||
Total interest-bearing cash | 438,633,000 | 685,540,000 | |||
Total federal funds sold | 43,052,000 | 16,555,000 | |||
Securities purchased under agreements to resell | 831,541,000 | 605,276,000 | |||
Total short-term financial assets | 1,313,226,000 | 1,307,371,000 | |||
Trading securities | 1,532,463,000 | [4] | 1,194,749,000 | [4] | |
Loans held-for-sale | 133,958,000 | [4] | 361,359,000 | [4] | |
Securities available for sale | 3,672,331,000 | [4],[5] | 3,571,179,000 | [4],[6] | |
Securities held-to-maturity (Note 3) | 4,299,000 | 4,274,000 | |||
Derivative assets | 148,153,000 | [4] | 166,465,000 | [4] | |
Other Assets Financial Instruments | |||||
Tax credit investments | 80,331,000 | 85,901,000 | |||
Deferred compensation assets | 26,440,000 | 23,335,000 | |||
Total other assets | 106,771,000 | 109,236,000 | |||
Non Earning Assets | |||||
Cash and due from banks | 282,800,000 | 450,270,000 | |||
Capital markets receivables | 190,662,000 | 51,082,000 | |||
Accrued interest receivable | 72,716,000 | 73,010,000 | |||
Total nonearning assets | 546,178,000 | 574,362,000 | |||
Total assets | 23,961,174,000 | 22,161,210,000 | |||
Deposits: | |||||
Defined maturity | 1,210,417,000 | 1,436,657,000 | |||
Undefined maturity | 17,428,137,000 | 15,236,086,000 | |||
Total deposits | 18,638,554,000 | 16,672,743,000 | |||
Trading liabilities | 813,141,000 | [4] | 667,257,000 | [4] | |
Short Term Financial Liabilities | |||||
Total federal funds purchased | 703,352,000 | 1,135,665,000 | |||
Securities sold under agreements to repurchase | 309,297,000 | 411,795,000 | |||
Other Short-term Borrowings | 158,745,000 | 204,023,000 | |||
Total short-term financial liabilities | 1,171,394,000 | 1,751,483,000 | |||
Term Borrowings | |||||
Real estate investment trust-preferred | 45,913,000 | 45,845,000 | |||
Term borrowings - new market tax credit investment | 18,000,000 | 18,000,000 | |||
Borrowings secured by residential real estate | 60,914,000 | 77,119,000 | |||
Other long term borrowings | 1,448,388,000 | 1,366,084,000 | |||
Total long term borrowings | 1,573,215,000 | 1,507,048,000 | |||
Derivative liabilities | 133,273,000 | [4] | 137,863,000 | [4] | |
Other noninterest-bearing liabilities | |||||
Capital markets payables | 91,176,000 | 39,510,000 | |||
Accrued interest payable | 31,745,000 | 33,244,000 | |||
Total other noninterest-bearing liabilities | 122,921,000 | 72,754,000 | |||
Total liabilities | 22,452,498,000 | 20,809,148,000 | |||
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 | 9,570,703,000 | 7,680,262,000 | |||
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 | 1,303,232,000 | 1,136,895,000 | |||
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 | 4,813,572,000 | 5,134,606,000 | |||
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 | 491,522,000 | 599,721,000 | |||
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 | 324,766,000 | 320,731,000 | |||
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 | 16,234,532,000 | 14,377,047,000 | |||
Short Term Financial Assets: | |||||
Total interest-bearing cash | 438,633,000 | 685,540,000 | |||
Total federal funds sold | 43,052,000 | 16,555,000 | |||
Securities purchased under agreements to resell | 831,541,000 | 605,276,000 | |||
Total short-term financial assets | 1,313,226,000 | 1,307,371,000 | |||
Trading securities | 1,532,463,000 | [4] | 1,194,749,000 | [4] | |
Loans held-for-sale | 133,958,000 | [4] | 361,359,000 | [4] | |
Securities available for sale | 3,672,331,000 | [4],[5] | 3,571,179,000 | [4],[6] | |
Securities held-to-maturity (Note 3) | 5,451,000 | 5,454,000 | |||
Derivative assets | 148,153,000 | [4] | 166,465,000 | [4] | |
Other Assets Financial Instruments | |||||
Tax credit investments | 62,768,000 | 73,344,000 | |||
Deferred compensation assets | 26,440,000 | 23,335,000 | |||
Total other assets | 89,208,000 | 96,679,000 | |||
Non Earning Assets | |||||
Cash and due from banks | 282,800,000 | 450,270,000 | |||
Capital markets receivables | 190,662,000 | 51,082,000 | |||
Accrued interest receivable | 72,716,000 | 73,010,000 | |||
Total nonearning assets | 546,178,000 | 574,362,000 | |||
Total assets | 23,675,500,000 | 21,654,665,000 | |||
Deposits: | |||||
Defined maturity | 1,216,398,000 | 1,448,362,000 | |||
Undefined maturity | 17,428,137,000 | 15,236,086,000 | |||
Total deposits | 18,644,535,000 | 16,684,448,000 | |||
Trading liabilities | 813,141,000 | [4] | 667,257,000 | [4] | |
Short Term Financial Liabilities | |||||
Total federal funds purchased | 703,352,000 | 1,135,665,000 | |||
Securities sold under agreements to repurchase | 309,297,000 | 411,795,000 | |||
Other Short-term Borrowings | 158,745,000 | 204,023,000 | |||
Total short-term financial liabilities | 1,171,394,000 | 1,751,483,000 | |||
Term Borrowings | |||||
Real estate investment trust-preferred | 49,350,000 | 49,350,000 | |||
Term borrowings - new market tax credit investment | 18,208,000 | 17,810,000 | |||
Borrowings secured by residential real estate | 52,568,000 | 66,554,000 | |||
Other long term borrowings | 1,426,924,000 | 1,362,408,000 | |||
Total long term borrowings | 1,547,050,000 | 1,496,122,000 | |||
Derivative liabilities | 133,273,000 | [4] | 137,863,000 | [4] | |
Other noninterest-bearing liabilities | |||||
Capital markets payables | 91,176,000 | 39,510,000 | |||
Accrued interest payable | 31,745,000 | 33,244,000 | |||
Total other noninterest-bearing liabilities | 122,921,000 | 72,754,000 | |||
Total liabilities | 22,432,314,000 | 20,809,927,000 | |||
Loan commitments | 2,439,000 | 1,805,000 | |||
Standby and other commitments | 5,229,000 | 5,642,000 | |||
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 | 9,523,767,000 | 7,595,334,000 | |||
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 | 1,285,775,000 | 1,093,796,000 | |||
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 | 4,640,351,000 | 4,824,384,000 | |||
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 | 458,133,000 | 540,843,000 | |||
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 | 326,506,000 | 322,690,000 | |||
Contractual Amount [Member] | |||||
Other noninterest-bearing liabilities | |||||
Loan commitments | 7,073,470,000 | 7,543,821,000 | |||
Standby and other commitments | 374,173,000 | 316,399,000 | |||
Fair Value Inputs Level1 [Member] | |||||
Short Term Financial Assets: | |||||
Securities available for sale | 25,870,000 | 26,482,000 | |||
Other Assets Financial Instruments | |||||
Total other assets | 33,350,000 | 27,350,000 | |||
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 | 438,633,000 | 685,540,000 | |||
Total federal funds sold | 0 | 0 | |||
Securities purchased under agreements to resell | 0 | 0 | |||
Total short-term financial assets | 438,633,000 | 685,540,000 | |||
Trading securities | 0 | [4] | 0 | [4] | |
Loans held-for-sale | 0 | [4] | 0 | [4] | |
Securities available for sale | 25,870,000 | [4] | 26,482,000 | [4] | |
Securities held-to-maturity (Note 3) | 0 | 0 | |||
Derivative assets | 6,910,000 | [4] | 4,015,000 | [4] | |
Other Assets Financial Instruments | |||||
Tax credit investments | 0 | 0 | |||
Deferred compensation assets | 26,440,000 | 23,335,000 | |||
Total other assets | 26,440,000 | 23,335,000 | |||
Non Earning Assets | |||||
Cash and due from banks | 282,800,000 | 450,270,000 | |||
Capital markets receivables | 0 | 0 | |||
Accrued interest receivable | 0 | 0 | |||
Total nonearning assets | 282,800,000 | 450,270,000 | |||
Total assets | 780,653,000 | 1,189,642,000 | |||
Deposits: | |||||
Defined maturity | 0 | 0 | |||
Undefined maturity | 0 | 0 | |||
Total deposits | 0 | 0 | |||
Trading liabilities | 0 | [4] | 0 | [4] | |
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 | 7,828,000 | [4] | 2,738,000 | [4] | |
Other noninterest-bearing liabilities | |||||
Capital markets payables | 0 | 0 | |||
Accrued interest payable | 0 | 0 | |||
Total other noninterest-bearing liabilities | 0 | 0 | |||
Total liabilities | 7,828,000 | 2,738,000 | |||
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 | 3,487,502,000 | 3,377,977,000 | |||
Other Assets Financial Instruments | |||||
Total other assets | 141,243,000 | 162,450,000 | |||
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 | 43,052,000 | 16,555,000 | |||
Securities purchased under agreements to resell | 831,541,000 | 605,276,000 | |||
Total short-term financial assets | 874,593,000 | 621,831,000 | |||
Trading securities | 1,527,137,000 | [4] | 1,188,156,000 | [4] | |
Loans held-for-sale | 3,211,000 | [4] | 3,494,000 | [4] | |
Securities available for sale | 3,487,502,000 | [4] | 3,377,977,000 | [4] | |
Securities held-to-maturity (Note 3) | 0 | 0 | |||
Derivative assets | 141,243,000 | [4] | 162,450,000 | [4] | |
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 | 190,662,000 | 51,082,000 | |||
Accrued interest receivable | 72,716,000 | 73,010,000 | |||
Total nonearning assets | 263,378,000 | 124,092,000 | |||
Total assets | 6,297,064,000 | 5,478,000,000 | |||
Deposits: | |||||
Defined maturity | 1,216,398,000 | 1,448,362,000 | |||
Undefined maturity | 17,428,137,000 | 15,236,086,000 | |||
Total deposits | 18,644,535,000 | 16,684,448,000 | |||
Trading liabilities | 813,141,000 | [4] | 667,257,000 | [4] | |
Short Term Financial Liabilities | |||||
Total federal funds purchased | 703,352,000 | 1,135,665,000 | |||
Securities sold under agreements to repurchase | 309,297,000 | 411,795,000 | |||
Other Short-term Borrowings | 158,745,000 | 204,023,000 | |||
Total short-term financial liabilities | 1,171,394,000 | 1,751,483,000 | |||
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 | 1,426,924,000 | 1,362,408,000 | |||
Total long term borrowings | 1,426,924,000 | 1,362,408,000 | |||
Derivative liabilities | 120,440,000 | [4] | 130,180,000 | [4] | |
Other noninterest-bearing liabilities | |||||
Capital markets payables | 91,176,000 | 39,510,000 | |||
Accrued interest payable | 31,745,000 | 33,244,000 | |||
Total other noninterest-bearing liabilities | 122,921,000 | 72,754,000 | |||
Total liabilities | 22,299,355,000 | 20,668,530,000 | |||
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 | 3,191,000 | 7,982,000 | |||
Other Assets Financial Instruments | |||||
Total other assets | 2,342,000 | 4,687,000 | |||
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 | 16,234,532,000 | 14,377,047,000 | |||
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 | 5,326,000 | [4] | 6,593,000 | [4] | |
Loans held-for-sale | 130,747,000 | [4] | 357,865,000 | [4] | |
Securities available for sale | 158,959,000 | [4],[5] | 166,720,000 | [4],[6] | |
Securities held-to-maturity (Note 3) | 5,451,000 | 5,454,000 | |||
Derivative assets | 0 | [4] | 0 | [4] | |
Other Assets Financial Instruments | |||||
Tax credit investments | 62,768,000 | 73,344,000 | |||
Deferred compensation assets | 0 | 0 | |||
Total other assets | 62,768,000 | 73,344,000 | |||
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 | 16,597,783,000 | 14,987,023,000 | |||
Deposits: | |||||
Defined maturity | 0 | 0 | |||
Undefined maturity | 0 | 0 | |||
Total deposits | 0 | 0 | |||
Trading liabilities | 0 | [4] | 0 | [4] | |
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 | 49,350,000 | |||
Term borrowings - new market tax credit investment | 18,208,000 | 17,810,000 | |||
Borrowings secured by residential real estate | 52,568,000 | 66,554,000 | |||
Other long term borrowings | 0 | 0 | |||
Total long term borrowings | 120,126,000 | 133,714,000 | |||
Derivative liabilities | 5,005,000 | [4] | 4,945,000 | [4] | |
Other noninterest-bearing liabilities | |||||
Capital markets payables | 0 | 0 | |||
Accrued interest payable | 0 | 0 | |||
Total other noninterest-bearing liabilities | 0 | 0 | |||
Total liabilities | 125,131,000 | 138,659,000 | |||
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 | 9,523,767,000 | 7,595,334,000 | |||
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 | 1,285,775,000 | 1,093,796,000 | |||
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 | 4,640,351,000 | 4,824,384,000 | |||
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 | 458,133,000 | 540,843,000 | |||
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 | 326,506,000 | 322,690,000 | |||
FHLB-Cincinnati Stock [Member] | Fair Value Inputs Level3 [Member] | |||||
Other noninterest-bearing liabilities | |||||
Restricted investments | 87,900,000 | 87,900,000 | |||
FRB Stock [Member] | Fair Value Inputs Level3 [Member] | |||||
Other noninterest-bearing liabilities | |||||
Restricted investments | $66,000,000 | $66,000,000 | |||
[1] | (a) March 31, 2015 includes $23.8 million of held-for-sale consumer mortgage loans secured by residential real estate properties in process of foreclosure. | ||||
[2] | Includes $3.2billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[3] | Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. | ||||
[4] | Classes are detailed in the recurring and nonrecurring measurement tables. | ||||
[5] | Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9million and FRB stock of $66.0million. | ||||
[6] | Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million. |