Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2017shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | FIRST HORIZON NATIONAL CORP |
Entity Central Index Key | 36,966 |
Document Type | 10-Q |
Document Period End Date | Mar. 31, 2017 |
Amendment Flag | false |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q1 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 233,883,250 |
Trading Symbol | FHN |
Consolidated Statements Of Cond
Consolidated Statements Of Condition - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Assets: | |||||
Cash and due from banks | $ 369,290 | $ 373,274 | |||
Federal funds sold | 31,495 | 50,838 | |||
Securities purchased under agreements to resell (Note 15) | 835,222 | 613,682 | |||
Total cash and cash equivalents | 1,236,007 | 1,037,794 | |||
Interest-bearing cash | 2,106,597 | 1,060,034 | |||
Trading securities | 1,167,310 | 897,071 | |||
Loans held-for-sale | [1] | 105,456 | 111,248 | ||
Securities available-for-sale (Note 3) | 3,939,278 | [2] | 3,943,499 | [3] | |
Securities held-to-maturity (Note 3) | 14,354 | 14,347 | |||
Loans, net of unearned income (Note 4) | [4] | 19,090,074 | 19,589,520 | ||
Less: Allowance for loan losses (Note 5) | 201,968 | 202,068 | |||
Total net loans | 18,888,106 | 19,387,452 | |||
Goodwill (Note 6) | 191,371 | 191,371 | |||
Other intangible assets, net (Note 6) | 19,785 | 21,017 | |||
Fixed income receivables | 168,315 | 57,411 | |||
Premises and equipment, net (March 31, 2017 and December 31, 2016 include $6.2 million and $5.8 million, respectively, classified as held-for-sale) | 290,497 | 289,385 | |||
Real estate acquired by foreclosure | [5] | 15,144 | 16,237 | ||
Derivative assets (Note 14) | 98,120 | 121,654 | |||
Other assets | 1,378,260 | 1,406,711 | |||
Total assets | 29,618,600 | 28,555,231 | |||
Deposits: | |||||
Savings | 9,573,628 | 9,428,197 | |||
Time deposits | 1,385,818 | 1,355,133 | |||
Other interest-bearing deposits | 6,164,775 | 5,948,439 | |||
Interest-bearing | 17,124,221 | 16,731,769 | |||
Noninterest-bearing | 6,355,620 | 5,940,594 | |||
Total deposits | 23,479,841 | 22,672,363 | |||
Federal funds purchased | 504,805 | 414,207 | |||
Securities sold under agreements to repurchase (Note 15) | 406,354 | 453,053 | |||
Trading liabilities | 848,190 | 561,848 | |||
Other short-term borrowings | 79,454 | 83,177 | |||
Term borrowings | 1,035,036 | 1,040,656 | |||
Fixed income payables | 21,116 | 21,002 | |||
Derivative liabilities (Note 14) | 101,347 | 135,897 | |||
Other liabilities | 401,997 | 467,944 | |||
Total liabilities | 26,878,140 | 25,850,147 | |||
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, 2017 and December 31, 2016) | 95,624 | 95,624 | |||
Common stock - $.625 par value (shares authorized - 400,000,000; shares issued - 233,883,250 on March 31, 2017 and 233,623,686 on December 31, 2016) | 146,177 | 146,015 | |||
Capital surplus | 1,391,777 | 1,386,636 | |||
Undivided profits | 1,061,409 | 1,029,032 | |||
Accumulated other comprehensive loss, net (Note 8) | (249,958) | (247,654) | |||
Total First Horizon National Corporation Shareholders' Equity | 2,445,029 | 2,409,653 | |||
Noncontrolling interest | 295,431 | 295,431 | |||
Total equity | 2,740,460 | 2,705,084 | |||
Total liabilities and equity | $ 29,618,600 | $ 28,555,231 | |||
[1] | March 31, 2017 an d December 31, 2016 include $17.5 million and $19.3 million, respectively, of held-for-sale consumer mortgage loans secured by residential real estate in process of foreclosure. | ||||
[2] | Includes $ 3 . 5 billion 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 repu rchase, and for other purposes . | ||||
[4] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | ||||
[5] | March 31, 2017 and December 31, 2016 include $ 7.8 million and $8.1 million, respectively, of foreclosed residential real estate. |
Consolidated Statements of Con3
Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Real estate acquired by foreclosure | [1] | $ 15,144 | $ 16,237 |
Common stock, par value | $ 0.625 | $ 0.625 | |
Common stock, shares authorized | 400,000,000 | 400,000,000 | |
Common stock, shares issued | 233,883,250 | 233,623,686 | |
Preferred stock, no par value | $ 0 | $ 0 | |
Preferred Stock Liquidation Preference Value | $ 100,000 | $ 100,000 | |
Preferred stock, shares authorized | 1,000 | 1,000 | |
Preferred stock, shares issued | 1,000 | 1,000 | |
Premises and Equipment classified as held-for-sale | $ 6,200 | $ 5,800 | |
Residential Real Estate [Member] | |||
Mortgage Loans In Process Of Foreclosure Amount | 30,300 | 28,500 | |
Real estate acquired by foreclosure | 7,800 | 8,100 | |
Residential Real Estate [Member] | Loans Held For Sale [Member] | |||
Mortgage Loans In Process Of Foreclosure Amount | $ 17,500 | $ 19,300 | |
[1] | March 31, 2017 and December 31, 2016 include $ 7.8 million and $8.1 million, respectively, of foreclosed residential real estate. |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest income: | ||
Interest and fees on loans | $ 180,464 | $ 158,423 |
Interest on investment securities available-for-sale | 25,635 | 24,474 |
Interest on investment securities held-to-maturity | 197 | 197 |
Interest on loans held-for-sale | 1,283 | 1,261 |
Interest on trading securities | 6,353 | 7,751 |
Interest on other earning assets | 4,879 | 1,558 |
Total interest income | 218,811 | 193,664 |
Interest on deposits: | ||
Savings | 9,210 | 4,190 |
Time deposits | 2,833 | 2,323 |
Other interest-bearing deposits | 4,143 | 2,304 |
Interest on trading liabilities | 3,781 | 4,039 |
Interest on short-term borrowings | 1,392 | 1,128 |
Interest on term borrowings | 7,744 | 7,606 |
Total interest expense | 29,103 | 21,590 |
Net interest income | 189,708 | 172,074 |
Provision/(provision credit) for loan losses | (1,000) | 3,000 |
Net interest income after provision/(provision credit) for loan losses | 190,708 | 169,074 |
Noninterest income: | ||
Fixed income | 50,678 | 66,977 |
Deposit transactions and cash management | 24,565 | 26,837 |
Brokerage, management fees and commissions | 11,906 | 10,415 |
Trust services and investment management | 6,653 | 6,565 |
Bankcard income | 5,455 | 5,259 |
Bank-owned life insurance | 3,247 | 3,389 |
Debt secutities gains/(losses), net (Note 3 and Note 8) | 44 | 1,654 |
Equity securities gains/(losses), net (Note 3) | 0 | (80) |
All other income and commissions (Note 7) | 14,391 | 13,289 |
Total noninterest income | 116,939 | 134,305 |
Adjusted gross income after provision/(provision credit) for loan losses | 307,647 | 303,379 |
Noninterest expense: | ||
Employee compensation, incentives, and benefits | 134,932 | 137,151 |
Occupancy | 12,340 | 12,604 |
Operations services | 10,875 | 9,900 |
Computer software | 10,799 | 11,587 |
Equipment rentals, depreciation, and maintenance | 6,351 | 6,159 |
FDIC premium expense | 5,739 | 4,921 |
Legal fees | 5,283 | 4,879 |
Professional fees | 4,746 | 5,199 |
Advertising and public relations | 4,601 | 4,973 |
Communications and courier | 3,800 | 3,750 |
Contract employment and outsourcing | 2,958 | 2,425 |
Amortization of intangible assets | 1,232 | 1,300 |
Repurchase and foreclosure provision/(provision credit) | (238) | 0 |
All other expense (Note 7) | 18,787 | 22,079 |
Total noninterest expense | 222,205 | 226,927 |
Income/(loss) before income taxes | 85,442 | 76,452 |
Provision/(benefit) for income taxes | 27,054 | 24,239 |
Net income/(loss) | 58,388 | 52,213 |
Net income attributable to noncontrolling interest | 2,820 | 2,851 |
Net income/(loss) attributable to controlling interest | 55,568 | 49,362 |
Preferred stock dividends | 1,550 | 1,550 |
Net income/(loss) available to common shareholders | $ 54,018 | $ 47,812 |
Basic earnings/(loss) per share (Note 9) | $ 0.23 | $ 0.2 |
Diluted earnings/(loss) per share (Note 9) | $ 0.23 | $ 0.2 |
Weighted average common shares (Note 9) | 233,076 | 234,651 |
Diluted average common shares (Note 9) | 236,855 | 236,666 |
Cash dividends declared per common share | $ 0.09 | $ 0.07 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Statements of Comprehensive Income/(loss) | |||
Net income/(loss) | $ 58,388 | $ 52,213 | |
Other comprehensive income/(loss), net of tax: | |||
Net unrealized gains/(losses) on securities available-for-sale | (1,563) | 39,160 | |
Net unrealized gains/(losses) on cash flow hedges | (1,914) | 3,465 | |
Net unrealized gains/(losses) on pension and other postretirement plans | 1,173 | 1,126 | |
Other comprehensive income/(loss) | [1] | (2,304) | 43,751 |
Comprehensive income | 56,084 | 95,964 | |
Comprehensive income attributable to noncontrolling interest | 2,820 | 2,851 | |
Comprehensive income attributable to controlling interest | 53,264 | 93,113 | |
Income tax expense/(benefit) of items included in Other comprehensive income: | |||
Net unrealized gains/(losses) on securities available-for-sale | (970) | 24,337 | |
Net unrealized gains/(losses) on cash flow hedges | (1,187) | 2,153 | |
Net unrealized gains/(losses) on pension and other postretirement plans | $ 727 | $ 700 | |
[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 Equi
Consolidated Statements of Equity-Q - USD ($) $ in Thousands | Total | Noncontrolling Interest | Controlling Member | |
Balance, at Dec. 31, 2015 | $ 2,639,586 | $ 295,431 | $ 2,344,155 | |
Net income/(loss) | 52,213 | 2,851 | 49,362 | |
Other comprehensive income/(loss) | [1] | 43,751 | 0 | 43,751 |
Comprehensive income | 95,964 | 2,851 | 93,113 | |
Cash dividends declared: | ||||
Preferred stock ($1,550 per share for the three months ended March 31, 2017 and 2016) | (1,550) | 0 | (1,550) | |
Common stock ($.09 and $.07 per share for the three months ended March 31, 2017 and 2016, respectively) | (16,519) | 0 | (16,519) | |
Common stock repurchased | [2] | (75,763) | 0 | (75,763) |
Common stock issued for: | ||||
Stock options and restricted stock-equity awards | 157 | 0 | 157 | |
Stock-based compensation expense | 3,941 | 0 | 3,941 | |
Dividends declared-noncontrolling interest of subsidiary preferred stock | (2,851) | (2,851) | 0 | |
Tax benefit/(benefit reversal)-stock based compensation expense | (17) | 0 | (17) | |
Balance, at Mar. 31, 2016 | 2,642,948 | 295,431 | 2,347,517 | |
Balance, at Dec. 31, 2016 | 2,705,084 | 295,431 | 2,409,653 | |
Net income/(loss) | 58,388 | 2,820 | 55,568 | |
Other comprehensive income/(loss) | [1] | (2,304) | 0 | (2,304) |
Comprehensive income | 56,084 | 2,820 | 53,264 | |
Cash dividends declared: | ||||
Preferred stock ($1,550 per share for the three months ended March 31, 2017 and 2016) | (1,550) | 0 | (1,550) | |
Common stock ($.09 and $.07 per share for the three months ended March 31, 2017 and 2016, respectively) | (21,354) | 0 | (21,354) | |
Common stock repurchased | [2] | (2,016) | 0 | (2,016) |
Common stock issued for: | ||||
Stock options and restricted stock-equity awards | 2,003 | 0 | 2,003 | |
Stock-based compensation expense | 5,029 | 0 | 5,029 | |
Dividends declared-noncontrolling interest of subsidiary preferred stock | (2,820) | (2,820) | 0 | |
Tax benefit/(benefit reversal)-stock based compensation expense | 0 | 0 | 0 | |
Balance, at Mar. 31, 2017 | $ 2,740,460 | $ 295,431 | $ 2,445,029 | |
[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] | 2016 includes $75.0 million repurchased under share repurchase program |
Consolidated Statements Of Equ7
Consolidated Statements Of Equity (Parenthetical)-Q - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Common stock - cash dividends declared per share | $ 0.09 | $ 0.07 | |
Common stock repurchased | [1] | $ 2,016 | $ 75,763 |
Preferred Stock Dividends Per Share Declared | $ 1,550 | $ 1,550 | |
Stock Repurchase Authorization [Member] | |||
Common stock repurchased | $ 0 | $ 75,000 | |
[1] | 2016 includes $75.0 million repurchased under share repurchase program |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flow - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Operating Activities | |||
Net income/(loss) | $ 58,388 | $ 52,213 | |
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities: | |||
Provision/(provision credit) for loan losses | (1,000) | 3,000 | |
Provision/(benefit) for deferred income taxes | 6,920 | 4,293 | |
Depreciation and amortization of premises and equipment | 8,151 | 8,122 | |
Amortization of intangible assets | 1,232 | 1,300 | |
Net other amortization and accretion | 6,207 | 4,730 | |
Net (increase)/decrease in derivatives | (16,864) | (321) | |
Repurchase and foreclosure provision/(provision credit) | (238) | 0 | |
(Gains)/losses and write-downs on other real estate, net | 156 | (162) | |
Litigation and regulatory matters | (294) | (375) | |
Stock-based compensation expense | 5,029 | 3,941 | |
Equity securities (gains)/losses, net | (44) | 80 | |
Debt securities (gains)/losses, net | 0 | (1,654) | |
Net (gains)/losses on sale/disposal of fixed assets | 36 | 3,684 | |
Loans held-for-sale: | |||
Purchases and originations | (47,445) | (148) | |
Gross proceeds from settlements and sales | 54,046 | 10,311 | |
(Gain)/loss due to fair value adjustments and other | (809) | (91) | |
Net (increase)/decrease in: | |||
Trading securities | (270,495) | (346,558) | |
Fixed income receivables | (110,904) | (51,194) | |
Interest receivable | 1,055 | (8,352) | |
Other assets | 16,873 | 19,223 | |
Net increase/(decrease) in: | |||
Trading liabilities | 286,342 | 172,634 | |
Fixed income payables | 114 | 33,327 | |
Interest payable | 7,360 | 10,206 | |
Other liabilities | (75,014) | (29,942) | |
Total adjustments | (129,586) | (163,946) | |
Net cash provided/(used) by operating activities | (71,198) | (111,733) | |
Available-for-sale securities: | |||
Sales | 44 | 961 | |
Maturities | 135,046 | 135,503 | |
Purchases | (135,676) | (159,066) | |
Premises and equipment: | |||
Sales | 18 | 1,356 | |
Purchases | (9,318) | (11,890) | |
Proceeds from sale of other real estate | 2,135 | 10,518 | |
Net (increase)/decrease in: | |||
Loans | 499,796 | 102,654 | |
Interests retained from securitizations classified as trading securities | 256 | 1,487 | |
Interest-bearing cash | (1,046,563) | (349,084) | |
Net cash provided/(used) by investing activities | (554,262) | (267,561) | |
Common stock: | |||
Stock options exercised | 2,045 | 157 | |
Cash dividends paid | (16,465) | (14,347) | |
Repurchase of shares | [1] | (2,016) | (75,763) |
Cash dividends paid - preferred stock - noncontrolling interest | (2,852) | (2,820) | |
Cash dividends paid - Series A preferred stock | (1,550) | (1,550) | |
Term borrowings: | |||
Payments/maturities | (3,306) | (6,155) | |
Net increase/(decrease) in: | |||
Deposits | 807,641 | 360,685 | |
Short-term borrowings | 40,176 | 170,193 | |
Net cash provided/(used) by financing activities | 823,673 | 430,400 | |
Net increase/(decrease) in cash and cash equivalents | 198,213 | 51,106 | |
Cash and cash equivalents at beginning of period | 1,037,794 | 1,031,063 | |
Cash and cash equivalents at end of period | 1,236,007 | 1,082,169 | |
Supplemental Disclosures | |||
Total interest paid | 21,478 | 11,223 | |
Total taxes paid | 951 | 617 | |
Total taxes refunded | 8,166 | 2,281 | |
Transfer from loans to other real estate owned | $ 1,198 | $ 1,814 | |
[1] | 2016 include s $ 75.0 million repurchased under share repurchase programs. |
Consolidated Statements Of Cas9
Consolidated Statements Of Cash Flow (Parenthetical) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($) | ||
Shares repurchased under the share repurchase program, value | $ 75,763 | [1] |
Stock Repurchase Authorization | ||
Shares repurchased under the share repurchase program, value | $ 75,000 | |
[1] | 2016 include s $ 75.0 million repurchased under share repurchase programs. |
Financial Information
Financial Information | 3 Months Ended |
Mar. 31, 2017 | |
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 2017 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 Exhibit 13 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2016 . Summary of Accounting Changes. Effective January 1, 2017, FHN adopted the provisions of Accounting Standards Update (“ASU”) 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which makes several revisions to equity compensation accounting. Under the new guidance all excess tax benefits and deficiencies that occur when an award vests, is exercised, or expires are recognized in income tax expense as discrete period items. Previously, these transactions were typically recorded direc tly within equity. Consistent with this change, excess tax benefits and deficiencies are no longer included within estimated proceeds when performing the treasury stock method for calculation of diluted earnings per share. Excess tax benefits are also reco gnized at the time an award is exercised or vests compared to the previous requirement to delay recognition until the deduction reduces taxes payable. The presentation of excess tax benefits in the statement of cash flows shifted to an operating activity f rom the prior classification as a financing activity. ASU 2016-09 also provides an accounting policy election to recognize forfeitures of awards as they occur when estimating stock-based compensation expense rather than the previous requirement to estimat e forfeitures from inception. Further, ASU 2016-09 permits employers to use a net-settlement feature to withhold taxes on equity compensation awards up to the maximum statutory tax rate without affecting the equity classification of the award. Under previo us guidance, withholding of equity awards in excess of the minimum statutory requirement resulted in liability classification for the entire award. The related cash remittance by the employer for employee taxes is treated as a financing activity in the sta tement of cash flows. Transition to the new guidance was accomplished through a combination of retrospective (cash flows), cumulative-effect adjustment to equity (forfeitures) and prospective methodologies (tax windfalls and shortfalls). FHN estimates, bas ed on currently enacted tax rates, that adoption of ASU 2016-09 in 2017 will result in an incremental effect on tax provision ranging from $ 3 .0 million of tax benefit to $ 1 .0 million of additional tax provision. The actual effects of adoption in 2017 will primarily depend upon the share price of the FHN’s common stock, which affects the vesting of certain performance awards, probability of exercise of certain stock options and the magnitude of windfalls for all awards upon either vesting or exercise. The ef fects on earnings per share calculations and election to account for forfeitures as incurred have not been significant. Effective January 1, 2017, FHN early adopted the provisions of ASU 2016-16, “Intra-Entity Transfers of Assets Other Than Inventory” whi ch requires recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Therefore, ASU 2016-16 reverses the previous requirement to delay recognition of the tax consequences of these tra nsactions until the associated assets are sold to an outside party. Adoption of ASU 2016-16 did not have a significant effect on FHN. 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 assets. 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 an d 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 w ith customers. In February 2016, the FASB issued ASU 2016-08, “Principal versus Agent Considerations,” which provides additional guidance on whether an entity should recognize revenue on a gross or net basis, based on which party controls the specified goo d or service before that good or service is transferred to a customer. In April 2016, the FASB issued ASU 2016-10, “Identifying Performance Obligations and Licensing,” which clarifies the original guidance included in ASU 2014-09 for identification of the goods or services provided to customers and enhances the implementation guidance for licensing arrangements. ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients,” was issued in May 2016 to provide additional guidance for the implementation and application of ASU 2014-09. “Technical Corrections and Improvements” ASU 2016-20 was issued in December 2016 and provides further guidance on certain issues. These ASUs are effective in annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted for annual reporting periods beginning after December 15, 2016, and associated interim periods. Transition to the new requirements may be made by retroactively revising prior fin ancial 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 will not early adopt these ASUs and is evaluat ing their effects on its revenue recognition practices. Currently, FHN anticipates that it will elect to adopt the provisions of the revenue recognition standards through a cumulative effect to retained earnings with comparability disclosures provided thro ughout 2018. In February 2017, the FASB issued ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets” which clarifies the meaning and application of the term in substance nonfinancial a sset in transactions involving both financial and nonfinancial assets. If substantially all of the fair value of the assets that are promised to t he counterparty in a contract are concentrated in nonfinancial assets, then all of the financial assets promis ed to the counterparty are in substance nonfinancial assets within the scope of revenue recognition guidance for nonfinancial assets. ASU 2017-05 also clarifies that an entity should identify each distinct nonfinancial asset or in substance nonfinancial as set promised to a counterparty and derecognize each asset when a counterparty obtains control of it with the amount of revenue recognized based on the allocation guidance provided in ASU 2014-09 . ASU 2017-05 also requires an entity to derecognize a distinc t nonfinancial asset or distinct in substance nonfinancial asset in a partial sale transaction when it 1) does not have (or ceases to have) a controlling financial interest in the legal entity that holds the asset in accordance with Topic 810 and 2) transf ers control of the asset in accordance with the provisions of ASU 2014-09. Once an entity transfers control of a distinct nonfinancial asset or distinct in substance nonfinancial asset, it is required to measure any noncontrolling interest it receives (or retains) at fair value. ASU 2017-05 has the same effective date and transition provisions as ASU 2014-09 and the two standards must be adopted simultaneously although the transition methods may be different. FHN is evaluating the effects of ASU 2017-05 on its revenue recognition practices. Currently, FHN anticipates that it will elect to adopt the provisions of ASU 2017-05 through a cumulative effect to retained earnings with comparability disclosures provided throughout 2018. In January 2016, the FASB iss ued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 makes several revisions to the accounting, presentation and disclosure for financial instruments. Equity investments (except those accounted for under the equity method, those that result in consolidation of the investee, and those held by entities subject to specialized industry accounting which already apply fair value through earnings) are required to be measured at fair value with changes in fair va lue recognized in net income. This excludes FRB and FHLB stock holdings which are specifically exempted from the provisions of ASU 2016-01. An entity may elect to measure equity investments that do not have readily determinable market values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar instruments from the same issuer. ASU 2016-01 also requires a qualitative impairment review for equity investments withou t readily determinable fair values, with measurement at fair value required if impairment is determined to exist. For liabilities for which fair value has been elected, ASU 2016-01 revises current accounting to record the portion of fair value changes resu lting from instrument-specific credit risk within other comprehensive income rather than earnings. FHN has not elected fair value accounting for any existing financial liabilities. Additionally, ASU 2016-01 clarifies that the need for a valuation allowance on a deferred tax asset related to available-for-sale securities should be assessed in combination with all other deferred tax assets rather than being assessed in isolation. ASU 2016-01 also makes several changes to existing fair value presentation and d isclosure requirements, including a provision that all disclosures must use an exit price concept in the determination of fair value. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Transition will be through a cumulative effect adjustment to retained earnings for equity investments with readily determinable fair values. Equity investments without readily determinable fair values, for which the accounting election is made, wil l have any initial fair value marks recorded through earnings prospectively after adoption. Upon adoption, FHN will reclassify all equity investments out of available-for-sale securities, leaving only debt securities within this classification. FHN has ev aluated the nature of its current equity investments and determined that substantially all qualify for the election available to assets without readily determinable fair values, including its holdings of Visa Class B shares. Accordingly, FHN intends to app ly this election and any fair value marks for these investments will be recognized through earnings on a prospective basis subsequent to adoption. FHN continues to evaluate the appropriate characteristics of “similar” instruments as well as related valuati on inputs and methodologies for its equity investments without readily determinable fair values. The requirements of ASU 2016-01 related to assessment of deferred tax assets and disclosure of the fair value of financial instruments will not have a signific ant effect on FHN because its current accounting and disclosure practices conform to the requirements of ASU 2016-01. FHN also continues to evaluate the impact of ASU 2016-01 on other aspects o f its current accounting and disclosure practices. In February 2016, the FASB issued ASU 2016-02, “Leases,” which requires a lessee to recognize in its statement of condition a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the le ase term. ASU 2016-02 leaves lessor accounting largely unchanged from prior standards. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and l ease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. All other leases must be classified as financing or operating leases which depends on the relations hip of the lessee’s rights to the economic value of the leased asset. For finance leases, interest on the lease liability is recognized separately from amortization of the right-of-use asset in earnings, resulting in higher expense in the earlier portion o f the lease term. For operating leases, a single lease cost is calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. In transition to ASU 2016-02, lessees and lessors are required to recognize and m easure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply, which would result in continui ng to account for leases that commence before the effective date in accordance with previous requirements (unless the lease is modified) except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at ea ch reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous requirements. ASU 2016-02 also requires expanded qualitative and quantitative disclosures to assess the amount, timing, and uncertainty of cash flows arising from lease arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. FHN is evaluating the impact of ASU 2016-02 on its current account ing and disclosure practices. In March 2016, the FASB issued ASU 2016-04, “Recognition of Breakage of Certain Prepaid Stored-Value Products,” which indicates that liabilities related to the sale of prepaid stored-value products are considered financial li abilities and should have a breakage estimate applied for estimated unused funds. ASU 2016-04 does not apply to stored-value products that can only be redeemed for cash, are subject to escheatment or are linked to a segregated bank account. ASU 2016-04 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. FHN is evaluating the impact of ASU 2016-04 on its current accounting and disclosure practices. In June 2016, the FASB issued ASU 2016-13, “Measur ement of Credit Losses on Financial Instruments,” which revises the measurement and recognition of credit losses for assets measured at amortized cost (e.g., held-to-maturity (“HTM”) loans and debt securities) and available-for-sale (“AFS”) debt securities . Under ASU 2016-13, for assets measured at amortized cost, the current expected credit loss (“CECL”) is measured as the difference between amortized cost and the net amount expected to be collected. This represents a departure from existing GAAP as the “i ncurred loss” methodology for recognizing credit losses delays recognition until it is probable a loss has been incurred. The measurement of current expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Additionally, current disclosures of credit quality indicators in relation to the amortized cost of financing receivables will be further d isaggregated by year of origination. ASU 2016-13 leaves the methodology for measuring credit losses on AFS debt securities largely unchanged, with the maximum credit loss representing the difference between amortized cost and fair value. However, such cred it losses will be recognized through an allowance for credit losses, which permits recovery of previously recognized credit losses if circumstances change. ASU 2016-13 also revises the recognition of credit losses for purchased financial assets with a m ore-than insignificant amount of credit deterioration since origination (“PCD assets”). For PCD assets, the initial allowance for credit losses is added to the purchase price. Only subsequent changes in the allowance for credit losses are recorded as a cre dit loss expense for PCD assets. Interest income for PCD assets will be recognized based on the effective interest rate, excluding the discount embedded in the purchase price that is attributable to the acquirer’s assessment of credit losses at acquisition . Currently, credit losses for purchased credit-impaired assets are included in the initial basis of the assets with subsequent declines in credit resulting in expense while subsequent improvements in credit are reflected as an increase in the future yield from the assets. The provisions of ASU 2016-13 will be generally adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in the year of adoption. Prospective implementation is required for de bt securities for which an other-than-temporary-impairment (“OTTI”) had been previously recognized. Amounts previously recognized in accumulated other comprehensive income (“AOCI”) as of the date of adoption that relate to improvements in cash flows expect ed to be collected will continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption will be recorded in earnings when received. A p rospective transition approach will be used for existing PCD assets where, upon adoption, the amortized cost basis will be adjusted to reflect the addition of the allowance for credit losses. Thus, an entity will not be required to reassess its purchased f inancial assets that exist as of the date of adoption to determine whether they would have met at acquisition the new criteria of more-than-insignificant credit deterioration since origination. An entity will accrete the remaining noncredit discount (based on the revised amortized cost basis) into interest income at the effective interest rate at the adoption date. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoptio n is permitted in fiscal years beginning after December 15, 2018. FHN is still evaluating the impact of ASU 2016-13 on its current accounting and disclosure practices. In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts an d Cash Payments,” which clarifies multiple cash flow presentation issues including providing guidance as to classification on the cash flow statement for certain cash receipts and cash payments where diversity in practice exists. ASU 2016-15 is effective f or fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The provisions of ASU 2016-15 will be applied retroactively and will result in proceeds from bank-owned life insurance (“BOLI”) being classified as an investing activity rather than their prior classification as an operating activity. In March 2017, the FASB issued ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” which requires the disaggregation of the service cost component from the other components of net benefit cost for pension and postretirement plans. Service cost must be included in the same income statement line item as other compensation-related expenses . All other components of net benefit cost are required to be presented in the income statement separately from the service cost component, with disclosure of the line items where these amounts are recorded. The presentation requirements of ASU 2017-07 must be applied retrospectively and adoption is required f or annual periods beginning after December 15, 2017, including interim periods within th ose annual periods. FHN’s disclosures for pension and postretirement costs provide details of the service cost and all other components for expenses recognized f or its applicable benefit plans. These amounts are currently included in Employee compensation, incentives, and benefits expense in the Consolidated Condensed Statements of Income. Upon adoption of ASU 2017-07 FHN will reclassify the expense components other than service cost into All other expense and revise its disclosures accordingly. The amounts to be reclassified are presented in Note 11 - Pension, Savings, and Ot her Employee Benefits in this Q uarterly Report on Form 10-Q for the quarter ended March 31, 2017 and in Note 18 - Pension, Savings, and Other Employee Benefits in Exhibit 13 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2016. In March 2017, the FASB issued ASU 2017-08, “Premium Amortization on Purchased Callable Debt Securities” which shortens the amortization period for securities that have explicit, noncontingent call features that are callable at fixed prices and on preset dates. In contrast to the current requirement for premium amortization to exten d to the contractual maturity date, ASU 2017-08 requires the premium to be amortized to the earliest call date. ASU 2017-08 does not change the amortization of discounts, which will continue to be amortized to maturity. The new guidance does not apply to debt securities where the prepayment date is not preset or the price is not known in advance, which includes debt securities that qualify for amortization based on estimated prepayment rates. ASU 2017-08 is effective for fiscal years, and interim periods w ithin those fiscal years, beginning after December 15, 2018 with early adoption permitted. Transition is accomplished through a cumulative-effect adjustment directly to retained earnings as of the beginning of the year of adoption. Based upon the current composition of its debt securities portfolios, FHN does not anticipate a s ignificant effect upon adoption . |
Acquisitions and Divestitures
Acquisitions and Divestitures | 3 Months Ended |
Mar. 31, 2017 | |
Acquisitions and Divestitures [Abstract] | |
Acquisitions and Divestitures | Note 2 – Acquisitions and Divestitures On May 4, 2017, FHN and Capital Bank Financial Corp. (“Capital Bank”) announced that they had entered into an agreement and plan of merger. Under the agreement FHN will acquire Capital Bank, which is headquartered in Charlotte, North Carolina, and reported approximately $ 10 billion of assets at March 31, 2017. At the time of announcement Capital Bank operated 193 branches in North and South Carolina, Tennessee, Florida and Virginia. Collectively, Capital Bank shareholders will receive approximately $ 411 million in cash plus FHN common shares which are expected to represent approximately 29 percent of FHN's outstanding common shares immediately after consummation of the merger. The total transaction value, measured at the time of announcement, was app roximately $ 2.2 billion. The agreement calls for two members of Capital Bank's board of directors to join FHN's board after closing. The transaction is expected to close in fourth quarter 2017, subject to regulatory approvals, approval by shareholders of F HN and of Capital Bank, and other customary conditions. On April 3, 2017, FTN Financial a cquired substantially all of the assets and assumed substantially all of the liabilities of Coastal Securities, Inc. (“Coastal”), a national leader in the trading, se curitization, and analysis of Small Business Administration (“SBA”) loans, for approximately $ 130 million in cash. Coastal, which was based in Houston, TX, also traded United States Department of Agriculture (“USDA”) loans and fixed income products and pro vided municipal underwriting and advisory services to its clients. Coastal’s government-guaranteed loan products, combined with FTN Financial’s existing SBA trading activities, have established an additional major product sector for FTN Financial. On Sep tember 16, 2016, FTBNA acquired $ 537.4 million in unpaid principal balance (“UPB”) of restaurant franchise loans from GE Capital’s Southeast and Southwest regional portfolios. Subsequent to the acquisition the acquired loans were combined with existing FTB NA relationships to establish a franchise finance specialty banking business. In addition to the transactions mentioned above, FHN acquires or divests assets from time to time in transactions that are considered business combination or divestitures but are not material to FHN individually or in the aggregate. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2017 | |
Investment Securities [Abstract] | |
Investment Securities | Note 3 – Investment Securities The following tables summarize FHN’s investment securities on March 31, 2017 and December 31, 2016: March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Securities available-for-sale: U.S. treasuries $ 100 $ - $ - $ 100 Government agency issued mortgage-backed securities ("MBS") 2,171,843 13,675 (25,596) 2,159,922 Government agency issued collateralized mortgage obligations ("CMO") 1,610,857 4,980 (23,526) 1,592,311 Equity and other (a) 186,948 - (3) 186,945 Total securities available-for-sale (b) $ 3,969,748 $ 18,655 $ (49,125) $ 3,939,278 Securities held-to-maturity: States and municipalities $ 4,354 $ 386 $ - $ 4,740 Corporate bonds 10,000 63 - 10,063 Total securities held-to-maturity $ 14,354 $ 449 $ - $ 14,803 Includes restricted investments in FHLB-Cincinnati stock of $ 87 . 9 million and FRB stock of $ 68.6 million . The remainder is money market, mutual funds, and cost method investments. Includes $ 3 . 5 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Securities available-for-sale: U.S. treasuries $ 100 $ - $ - $ 100 Government agency issued MBS 2,217,593 14,960 (23,866) 2,208,687 Government agency issued CMO 1,566,986 4,909 (23,937) 1,547,958 Equity and other (a) 186,756 - (2) 186,754 Total securities available-for-sale (b) $ 3,971,435 $ 19,869 $ (47,805) $ 3,943,499 Securities held-to-maturity: States and municipalities $ 4,347 $ 393 $ - $ 4,740 Corporate bonds 10,000 33 - 10,033 Total securities held-to-maturity $ 14,347 $ 426 $ - $ 14,773 Includes restricted investments in FHLB-Cincinnati stock of $ 87.9 million and FRB stock of $ 68.6 million. The remainder is money market , mutual funds, and cost method investments. Includes $ 3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repu rchase, 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, 2017 are provided below: Held-to-Maturity Available-for-Sale Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Within 1 year $ - $ - $ 100 $ 100 After 1 year; within 5 years - - - - After 5 years; within 10 years 10,000 10,063 - - After 10 years 4,354 4,740 - - Subtotal 14,354 14,803 100 100 Government agency issued MBS and CMO (a) - - 3,782,700 3,752,233 Equity and other - - 186,948 186,945 Total $ 14,354 $ 14,803 $ 3,969,748 $ 3,939,278 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) 2017 2016 Gross gains on sales of securities $ 44 $ 3,837 Gross (losses) on sales of securities - (2,263) Net gain/(loss) on sales of securities (a) $ 44 $ 1,574 Cash proceeds for the three months ended March 31, 2017 were not material. Cash proceeds for the three months ended March 31, 2016 were $1.0 million. 2016 includes a $1.7 million gain from an exchange of approximately $294 million of AFS debt securities. The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of March 31, 2017 and December 31, 2016: As of March 31, 2017 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 $ 1,068,010 $ (18,525) $ 111,813 $ (5,001) $ 1,179,823 $ (23,526) Government agency issued MBS 1,846,348 (25,596) - - 1,846,348 (25,596) Total debt securities 2,914,358 (44,121) 111,813 (5,001) 3,026,171 (49,122) Equity 6 (3) - - 6 (3) Total temporarily impaired securities $ 2,914,364 $ (44,124) $ 111,813 $ (5,001) $ 3,026,177 $ (49,125) As of December 31, 2016 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 $ 1,059,471 $ (19,052) $ 116,527 $ (4,885) $ 1,175,998 $ (23,937) Government agency issued MBS 1,912,126 (23,866) - - 1,912,126 (23,866) Total debt securities 2,971,597 (42,918) 116,527 (4,885) 3,088,124 (47,803) Equity 7 (2) - - 7 (2) Total temporarily impaired securities $ 2,971,604 $ (42,920) $ 116,527 $ (4,885) $ 3,088,131 $ (47,805) FHN has reviewed investment securities that were in unrealized loss positions in accordance with its accounting policy for OTTI and does not consider them other-than-temporarily impaired. For debt securities with unrealized losses, FHN does not intend to sell them and it is more-likely-than-not that FHN will not be required to sell them prior to recovery. The decline in value is primarily attributable to changes in interest rates and not credit losses. For equity securities, FHN has both the ability and in tent to hold these securities for the time necessary to recover the amortized cost. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2017 | |
Loans [Abstract] | |
Loans | Note 4 – Loans The following table provides the balance of loans by portfolio segment as of March 31, 2017 and December 31, 2016: March 31 December 31 (Dollars in thousands) 2017 2016 Commercial: Commercial, financial, and industrial $ 11,703,996 $ 12,148,087 Commercial real estate 2,173,311 2,135,523 Consumer: Consumer real estate (a) 4,456,811 4,523,752 Permanent mortgage 409,235 423,125 Credit card & other 346,721 359,033 Loans, net of unearned income $ 19,090,074 $ 19,589,520 Allowance for loan losses 201,968 202,068 Total net loans $ 18,888,106 $ 19,387,452 Balances as of March 3 1 , 201 7 and December 31, 201 6 , include $ 32 . 5 million and $ 35 . 9 million of restricted real estate loans, respectively. See Note 13 - Variable Interest Entities for additional information. C OMPONENTS OF THE LOAN PORTFOLIO T he 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 as sessing 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 (" TRU P S") (i.e. long-term unsecured loans to bank and insurance - related businesses) portfolio and purchased credit-impaired (“PCI”) loans . Loans to mortgage companies include commercial lines of credit to qualified mortgage companies primarily for the tempora ry 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 . Consumer loan portfolio segments include consumer real estate, permanent mortgage, and the credit card and other portfolio. Consumer classes include home equity lines of credit (“ HELOC s”), 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 ( 25 percent of total loans), the majority of which is in the consumer real estate segment ( 23 percent of total loans). Loans to fin ance and insurance companies total $ 2.6 billion ( 22 percent of the C&I portfolio, or 13 percent of the total loans). FHN had loans to mortgage companies totaling $1.5 billion ( 13 percent of the C&I segment, or 8 percent of total loans) as of March 31 , 2017 . As a result, 35 percent of the C&I segment is 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, 2017 and 2016: Three Months Ended March 31 (Dollars in thousands) 2017 2016 Balance, beginning of period $ 6,871 $ 8,542 Accretion (851) (1,151) Adjustment for payoffs (273) (1,777) Adjustment for charge-offs - (663) Adjustment for pool excess recovery (a) (222) - Increase/(decrease) in accretable yield (b) (295) 4,007 Other (32) - Balance, end of period $ 5,198 $ 8,958 Represents the removal of accretable difference for the remaining loans in a pool which is now in a recovery state. 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 3 1 , 201 7 , the ALLL related to PCI loans was $ . 6 milli on compared to $.7 million at December 3 1 , 201 6. The loan loss provision amounts related to PCI loans recognized during the three months ended March 31, 2017, and 2016, respectively, were not significant . The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 (Dollars in thousands) Carrying value Unpaid balance Carrying value Unpaid balance Commercial, financial and industrial $ 38,088 $ 39,257 $ 40,368 $ 41,608 Commercial real estate 4,096 5,466 4,763 6,514 Consumer real estate 1,072 1,442 1,172 1,677 Credit card and other 53 64 52 64 Total $ 43,309 $ 46,229 $ 46,355 $ 49,863 Impaired Loans The following tables provide information at March 31, 2017 and December 31, 2016, by class related to individually impaired loans and consumer TDRs, regardless of accrual status. 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 the TRUPs valuation allowance have been excluded. Three Months Ended March 31 March 31, 2017 2017 2016 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income (Dollars in thousands) Investment Balance Allowance Investment Recognized Investment Recognized Impaired loans with no related allowance recorded: Commercial: General C&I $ 10,395 $ 16,612 $ - $ 10,407 $ - $ 9,224 $ - Income CRE - - - - - 2,468 - Total $ 10,395 $ 16,612 $ - $ 10,407 $ - $ 11,692 $ - Consumer: HELOC (a) $ 10,724 $ 22,020 $ - $ 11,054 $ - $ 10,921 $ - R/E installment loans (a) 3,916 4,987 - 3,937 - 4,434 - Permanent mortgage (a) 5,803 8,607 - 5,557 - 4,436 - Total $ 20,443 $ 35,614 $ - $ 20,548 $ - $ 19,791 $ - Impaired loans with related allowance recorded: Commercial: General C&I $ 31,392 $ 31,532 $ 2,850 $ 32,863 $ 215 $ 24,921 $ 87 TRUPS 3,183 3,700 925 3,196 - 3,323 - Income CRE 1,803 2,181 61 1,817 14 5,138 20 Residential CRE 1,293 1,761 131 1,293 5 1,397 6 Total $ 37,671 $ 39,174 $ 3,967 $ 39,169 $ 234 $ 34,779 $ 113 Consumer: HELOC $ 81,438 $ 83,888 $ 16,641 $ 83,075 $ 564 $ 88,580 $ 487 R/E installment loans 50,394 51,317 12,060 51,902 318 59,971 317 Permanent mortgage 82,940 94,755 11,532 85,778 615 95,232 547 Credit card & other 269 269 122 288 2 360 3 Total $ 215,041 $ 230,229 $ 40,355 $ 221,043 $ 1,499 $ 244,143 $ 1,354 Total commercial $ 48,066 $ 55,786 $ 3,967 $ 49,576 $ 234 $ 46,471 $ 113 Total consumer $ 235,484 $ 265,843 $ 40,355 $ 241,591 $ 1,499 $ 263,934 $ 1,354 Total impaired loans $ 283,550 $ 321,629 $ 44,322 $ 291,167 $ 1,733 $ 310,405 $ 1,467 All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. December 31, 2016 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 $ 10,419 $ 16,636 $ - $ 12,009 $ - Income CRE - - - 1,543 - Total $ 10,419 $ 16,636 $ - $ 13,552 $ - Consumer: HELOC (a) $ 11,383 $ 21,662 $ - $ 11,168 $ - R/E installment loans (a) 3,957 4,992 - 4,255 - Permanent mortgage (a) 5,311 7,899 - 4,418 - Total $ 20,651 $ 34,553 $ - $ 19,841 $ - Impaired loans with related allowance recorded: Commercial: General C&I $ 34,334 $ 34,470 $ 3,294 $ 30,836 $ 902 TRUPS 3,209 3,700 925 3,274 - Income CRE 1,831 2,209 62 3,757 70 Residential CRE 1,293 1,761 132 1,360 22 Total $ 40,667 $ 42,140 $ 4,413 $ 39,227 $ 994 Consumer: HELOC $ 84,711 $ 87,126 $ 15,927 $ 87,659 $ 2,092 R/E installment loans 53,409 54,559 12,875 57,906 1,370 Permanent mortgage 88,615 100,983 12,470 91,838 2,310 Credit card & other 306 306 133 345 13 Total $ 227,041 $ 242,974 $ 41,405 $ 237,748 $ 5,785 Total commercial $ 51,086 $ 58,776 $ 4,413 $ 52,779 $ 994 Total consumer $ 247,692 $ 277,527 $ 41,405 $ 257,589 $ 5,785 Total impaired loans $ 298,778 $ 336,303 $ 45,818 $ 310,368 $ 6,779 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. This credit grading system is intended to identify and measure the credit quality of the loan portfolio by analyzing the migration of loans be tween grading categories. It is also integral to the estimation methodology utilized in determining the allowance for loan losses since an allowance is established for pools of commercial loans based on the credit grade assigned. 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. P D grades 13-16 correspond to the regulatory-de fined 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 charac teristics 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. Loan grading discipline is regularly reviewed internally by Credit Assurance Ser vices to determine if the process continues to result in accurate loan grading across the portfolio. FHN may utilize availability of guarantors/sponsors to support lending decisions during the credit underwriting process and when determining the assignment of internal loan grades. 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 syste m. The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of March 31, 2017 and December 31, 2016: March 31, 2017 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 $ 478,025 $ - $ - $ 610 $ - $ 478,635 3 % $ 78 2 891,450 - - 11,293 81 902,824 7 442 3 403,403 398,860 - 160,115 - 962,378 7 239 4 998,015 227,257 - 242,069 221 1,467,562 11 879 5 1,269,384 139,434 - 426,147 333 1,835,298 13 7,260 6 1,535,573 521,253 - 368,073 8,072 2,432,971 17 10,600 7 1,479,242 169,444 - 396,654 2,161 2,047,501 15 12,767 8 1,042,772 49,588 - 352,370 4,383 1,449,113 10 24,532 9 641,463 4,643 - 82,734 3,357 732,197 5 14,396 10 344,633 4,499 - 35,489 9,695 394,316 3 8,510 11 228,258 - - 17,501 5,454 251,213 2 6,289 12 162,238 13,956 - 15,831 2,965 194,990 1 6,862 13 115,844 - 304,236 4,755 128 424,963 3 3,757 14,15,16 197,230 48 - 14,395 1,183 212,856 2 23,177 Collectively evaluated for impairment 9,787,530 1,528,982 304,236 2,128,036 38,033 13,786,817 99 119,788 Individually evaluated for impairment 41,787 - 3,183 1,803 1,293 48,066 1 3,967 Purchased credit-impaired loans 38,278 - - 4,052 94 42,424 - 240 Total commercial loans $ 9,867,595 $ 1,528,982 $ 307,419 $ 2,133,891 $ 39,420 $ 13,877,307 100 % $ 123,995 December 31, 2016 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 $ 465,179 $ - $ - $ 1,078 $ - $ 466,257 3 % $ 77 2 791,183 - - 11,742 87 803,012 6 403 3 491,386 462,486 - 153,670 - 1,107,542 8 304 4 978,282 332,107 - 222,422 - 1,532,811 11 953 5 1,232,401 275,209 - 365,653 702 1,873,965 13 6,670 6 1,540,519 614,109 - 338,344 9,338 2,502,310 17 10,403 7 1,556,117 317,283 - 352,390 2,579 2,228,369 16 14,010 8 963,359 30,974 - 425,503 2,950 1,422,786 10 25,986 9 611,774 4,299 - 105,277 4,417 725,767 5 13,857 10 355,359 8,663 - 50,484 9,110 423,616 3 8,400 11 238,230 - - 20,600 6,541 265,371 2 6,556 12 170,531 - - 15,395 4,168 190,094 1 6,377 13 121,276 - 304,236 6,748 311 432,571 3 4,225 14,15,16 194,572 59 - 16,313 1,659 212,603 1 20,297 Collectively evaluated for impairment 9,710,168 2,045,189 304,236 2,085,619 41,862 14,187,074 99 118,518 Individually evaluated for impairment 44,753 - 3,209 1,831 1,293 51,086 1 4,413 Purchased credit-impaired loans 40,532 - - 4,583 335 45,450 - 319 Total commercial loans $ 9,795,453 $ 2,045,189 $ 307,445 $ 2,092,033 $ 43,490 $ 14,283,610 100 % $ 123,250 Balances as of March 31 , 2017 and December 31, 2016 , presented net of a $ 25.5 million valuation allowance . Based on the underlying structure of the notes , the highest possible internal grade is " 13 ". The consumer 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 consumer 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 th e borrowers. Accruing delinquency amounts are indicators of asset quality within the credit card and other consumer portfolio. The following table reflects the percentage of balances outstanding by average, refreshed FICO scores for the HELOC, real estate installment, and permanent mortgage classes of loans as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 HELOC R/E Installment Loans Permanent Mortgage HELOC R/E Installment Loans Permanent Mortgage FICO score 740 or greater 57.6 % 70.1 % 45.5 % 56.9 % 70.3 % 45.0 % FICO score 720-739 8.8 8.0 8.7 8.8 8.3 9.5 FICO score 700-719 8.2 7.2 9.5 8.6 6.8 9.2 FICO score 660-699 12.6 9.0 16.8 13.2 8.4 17.1 FICO score 620-659 5.7 3.0 8.9 5.6 3.5 9.1 FICO score less than 620 (a) 7.1 2.7 10.6 6.9 2.7 10.1 Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % For this group, a majority of the loan balances had FICO scores at the time of the origination that exceeded 620 but have since deteriorated as the loans have seasoned . Nonaccrual and Past Due Loans The following table reflects accruing and non-accruing loans by class on March 31, 2017: 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 $ 9,781,688 $ 20,073 $ 101 $ 9,801,862 $ 14,511 $ 113 $ 12,831 $ 27,455 $ 9,829,317 Loans to mortgage companies 1,528,934 - - 1,528,934 - - 48 48 1,528,982 TRUPS (a) 304,236 - - 304,236 - - 3,183 3,183 307,419 Purchased credit-impaired loans 38,045 8 225 38,278 - - - - 38,278 Total commercial (C&I) 11,652,903 20,081 326 11,673,310 14,511 113 16,062 30,686 11,703,996 Commercial real estate: Income CRE 2,128,111 128 - 2,128,239 100 - 1,500 1,600 2,129,839 Residential CRE 38,531 - - 38,531 - - 795 795 39,326 Purchased credit-impaired loans 3,605 541 - 4,146 - - - - 4,146 Total commercial real estate 2,170,247 669 - 2,170,916 100 - 2,295 2,395 2,173,311 Consumer real estate: HELOC 1,521,042 16,612 10,247 1,547,901 46,661 4,187 8,345 59,193 1,607,094 R/E installment loans 2,814,663 7,056 4,427 2,826,146 17,477 1,993 2,679 22,149 2,848,295 Purchased credit-impaired loans 1,328 - 94 1,422 - - - - 1,422 Total consumer real estate 4,337,033 23,668 14,768 4,375,469 64,138 6,180 11,024 81,342 4,456,811 Permanent mortgage 369,882 4,802 5,718 380,402 14,166 1,006 13,661 28,833 409,235 Credit card & other: Credit card 182,129 1,393 1,449 184,971 - - - - 184,971 Other 160,929 482 150 161,561 - - 136 136 161,697 Purchased credit-impaired loans 53 - - 53 - - - - 53 Total credit card & other 343,111 1,875 1,599 346,585 - - 136 136 346,721 Total loans, net of unearned income $ 18,873,176 $ 51,095 $ 22,411 $ 18,946,682 $ 92,915 $ 7,299 $ 43,178 $ 143,392 $ 19,090,074 TRUPS is presented net of the valuation allowance of $25.5 million . The following table reflects accruing and non-accruing loans by class on December 31, 2016: 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 $ 9,720,231 $ 5,199 $ 23 $ 9,725,453 $ 16,106 $ 374 $ 12,988 $ 29,468 $ 9,754,921 Loans to mortgage companies 2,041,408 3,722 - 2,045,130 - - 59 59 2,045,189 TRUPS (a) 304,236 - - 304,236 - - 3,209 3,209 307,445 Purchased credit-impaired loans 40,113 185 234 40,532 - - - - 40,532 Total commercial (C&I) 12,105,988 9,106 257 12,115,351 16,106 374 16,256 32,736 12,148,087 Commercial real estate: Income CRE 2,085,455 14 - 2,085,469 232 460 1,289 1,981 2,087,450 Residential CRE 42,182 178 - 42,360 - - 795 795 43,155 Purchased credit-impaired loans 4,809 109 - 4,918 - - - - 4,918 Total commercial real estate 2,132,446 301 - 2,132,747 232 460 2,084 2,776 2,135,523 Consumer real estate: HELOC 1,602,640 17,997 10,859 1,631,496 46,964 4,201 8,922 60,087 1,691,583 R/E installment loans 2,794,866 7,844 5,158 2,807,868 17,989 2,383 2,353 22,725 2,830,593 Purchased credit-impaired loans 1,319 164 93 1,576 - - - - 1,576 Total consumer real estate 4,398,825 26,005 16,110 4,440,940 64,953 6,584 11,275 82,812 4,523,752 Permanent mortgage 385,972 4,544 5,428 395,944 11,867 2,194 13,120 27,181 423,125 Credit card & other: Credit card 188,573 1,622 1,456 191,651 - - - - 191,651 Other 166,062 992 134 167,188 - - 142 142 167,330 Purchased credit-impaired loans 52 - - 52 - - - - 52 Total credit card & other 354,687 2,614 1,590 358,891 - - 142 142 359,033 Total loans, net of unearned income $ 19,377,918 $ 42,570 $ 23,385 $ 19,443,873 $ 93,158 $ 9,612 $ 42,877 $ 145,647 $ 19,589,520 TRUPS is presented net of the valuation allowance of $25.5 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. A modification is classified as a TDR if the borrower is experiencing financial diffi culty 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 defaul t in the foreseeable future. Many aspects of a borrower’s financial situation are assessed when determining whether they are experiencing financial difficulty. 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. The assessments of whether a borrower is experiencing (or is likely to experience) financial difficulty, and whether a concession has been granted, are 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 loa ns are generally structured using parameters of U.S. government-sponsored programs such as the former Home Affordable Modification Program (“HAMP”). Within the HELOC and R/E installment loans classes of the consumer portfolio segment, TDRs are typically mo dified 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 -to-income ratio. After 5 years, the interest rate generally returns to the original interest rate prior to modification ; for certain modifications, the modified interest rate increase s 2 percent per year until the original interest rate prior to modification is achieved. 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 -to-income ratio. After 5 years, the interest rate steps up 1 percent every year until it reach es 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 cred it 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 proceedi ngs 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 , 2017 and December 31, 2016 , FHN had $ 270.0 million and $ 285.2 million of portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $ 43.4 million, or 16 percent as of March 31 , 2017 , and $ 44.9 million , or 16 percent as of December 31, 2016 . Additionally, $ 67.2 million and $ 69.3 million of loans held-for-sale as of March 31 , 2017 and December 31, 2016 , respectively , were classified as TDRs. The following tables reflect portfolio loans that were classified as TDRs during the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 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 1 $ 27 $ 37 1 $ 708 $ 708 Total commercial (C&I) 1 27 37 1 708 708 Consumer real estate: HELOC 35 2,589 2,473 99 7,440 7,370 R/E installment loans 14 957 902 15 898 895 Total consumer real estate 49 3,546 3,375 114 8,338 8,265 Permanent mortgage 5 1,310 1,303 - - - Credit card & other 6 21 20 4 19 18 Total troubled debt restructurings 61 $ 4,904 $ 4,735 119 $ 9,065 $ 8,991 The following tables present TDRs which re-defaulted during the three months ended March 31, 2017 and 2016, and as to which the modification occurred 12 months or less prior to the re-default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due. March 31, 2017 March 31, 2016 Recorded Recorded (Dollars in thousands) Number Investment Number Investment Commercial (C&I): General C&I 1 $ 5,779 - $ - Total commercial (C&I) 1 5,779 - - Consumer real estate: HELOC 4 685 1 36 Total consumer real estate 4 685 1 36 Credit card & other 2 7 - - Total troubled debt restructurings 7 $ 6,471 1 $ 36 |
Allowance for Loan Losses
Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2017 | |
Loans [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 sm aller-balance homogeneous consumer 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 adjustment s by management to reflect current events, trends, and conditions (including economic considerations and trends). The current economic conditions and trends , performance of the housing market, u nemployment levels, labor participation rate, regulatory guidance, and both positive and negative portfolio segme nt-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 pe riods 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. Manageme nt 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 per iods used in the model and the loss emergence period and model assumptions are adjusted accordingly. The ALLL a lso include s reserves determined in accordance with ASC 310-10-3 5 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 FHN’s Form 10-K for the year ended December 31, 2016, for additional informatio n 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, 2017 and 2016: Commercial Consumer Permanent Credit Card (Dollars in thousands) C&I Real Estate Real Estate Mortgage and Other Total Balance as of January 1, 2017 $ 89,398 $ 33,852 $ 50,357 $ 16,289 $ 12,172 $ 202,068 Charge-offs (600) - (3,849) (483) (3,481) (8,413) Recoveries 1,676 221 5,676 903 837 9,313 Provision/(provision credit) for loan losses 2,633 (3,185) (2,504) (816) 2,872 (1,000) Balance as of March 31, 2017 93,107 30,888 49,680 15,893 12,400 201,968 Allowance - individually evaluated for impairment 3,775 192 28,701 11,532 122 44,322 Allowance - collectively evaluated for impairment 89,142 30,646 20,629 4,361 12,278 157,056 Allowance - purchased credit-impaired loans 190 50 350 - - 590 Loans, net of unearned as of March 31, 2017: Individually evaluated for impairment 44,970 3,096 146,472 88,743 269 283,550 Collectively evaluated for impairment 11,620,748 2,166,069 4,308,917 320,492 346,399 18,762,625 Purchased credit-impaired loans 38,278 4,146 1,422 - 53 43,899 Total loans, net of unearned income $ 11,703,996 $ 2,173,311 $ 4,456,811 $ 409,235 $ 346,721 $ 19,090,074 Balance as of January 1, 2016 $ 73,637 $ 25,159 $ 80,614 $ 18,947 $ 11,885 $ 210,242 Charge-offs (6,525) (642) (6,926) (112) (3,407) (17,612) Recoveries 780 222 5,735 779 888 8,404 Provision/(provision credit) for loan losses 12,995 887 (12,102) (860) 2,080 3,000 Balance as of March 31, 2016 80,887 25,626 67,321 18,754 11,446 204,034 Allowance - individually evaluated for impairment 9,148 488 31,119 16,975 146 57,876 Allowance - collectively evaluated for impairment 71,615 24,840 35,477 1,779 11,299 145,010 Allowance - purchased credit-impaired loans 124 298 725 - 1 1,148 Loans, net of unearned as of March 31, 2016: Individually evaluated for impairment 44,465 8,950 162,128 96,874 345 312,762 Collectively evaluated for impairment 10,181,677 1,826,677 4,523,885 345,917 353,822 17,231,978 Purchased credit-impaired loans 13,041 12,942 4,217 - 54 30,254 Total loans, net of unearned income $ 10,239,183 $ 1,848,569 $ 4,690,230 $ 442,791 $ 354,221 $ 17,574,994 |
Intangible Assets
Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 6 – Intangible Assets The following is a summary of other intangible assets included in the Consolidated Condensed Statements of Condition: March 31, 2017 December 31, 2016 (Dollars in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Gross Carrying Amount Accumulated Amortization Net Carrying Value Core deposit intangibles $ 16,850 $ (5,199) $ 11,651 $ 16,850 $ (4,721) $ 12,129 Customer lists 54,865 (47,053) 7,812 54,865 (46,302) 8,563 Other (a) 322 - 322 555 (230) 325 Total $ 72,037 $ (52,252) $ 19,785 $ 72,270 $ (51,253) $ 21,017 Balance at March 31, 2017 relates to state banking licenses and are not subject to amortization . Amortization expense was $ 1.2 million and $ 1.3 million for the three months ended March 31, 2017 and 2016, respectively. As of March 31, 2017 the estimated aggregated amortization expense is expected to be (Dollars in thousands) Year Amortization Remainder of 2017 $ 3,683 2018 4,679 2019 4,453 2020 1,659 2021 1,574 2022 1,450 Gross goodwill, accumulated impairments, and accumulated divestiture related write-offs were determined beginning January 1, 2012, when a change in accounting requirements resulted in goodwill being assessed for impairment rather than being amortized. Gross goodwill of $ 200.0 million with accumulated impairments and accumulated divestiture-related write-offs of $ 114.1 million and $ 85.9 million, respectively, were previously allocated to the non-strategic segment, resulting in $ 0 net goodwill allocated t o the non-strategic segment as of March 31, 2017 and December 31, 2016. The regional banking and fixed income segments do not have any accumulated impairments or divestiture related write-offs. The following is a summary of goodwill by reportable segment i ncluded in the Consolidated Condensed Statements of Condition as of March 31, 2017 and December 31, 2016. Regional Fixed (Dollars in thousands) Banking Income Total December 31, 2015 $ 93,303 $ 98,004 $ 191,307 Additions - - - March 31, 2016 $ 93,303 $ 98,004 $ 191,307 December 31, 2016 $ 93,367 $ 98,004 $ 191,371 Additions - - - March 31, 2017 $ 93,367 $ 98,004 $ 191,371 |
Other Income And Other Expense
Other Income And Other Expense | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31 (Dollars in thousands) 2017 2016 All other income and commissions: Other service charges $ 2,984 $ 2,713 ATM interchange fees 2,778 2,958 Deferred compensation 1,827 329 Electronic banking fees 1,323 1,397 Mortgage banking 1,261 1,273 Letter of credit fees 1,036 1,061 Insurance commissions 883 487 Other 2,299 3,071 Total $ 14,391 $ 13,289 All other expense: Other insurance and taxes $ 2,390 $ 3,313 Travel and entertainment 2,348 2,062 Employee training and dues 1,543 1,390 Customer relations 1,336 1,879 Tax credit investments 942 706 Supplies 863 1,026 Miscellaneous loan costs 622 717 Foreclosed real estate 204 (258) Litigation and regulatory matters (292) (475) Other 8,831 11,719 Total $ 18,787 $ 22,079 |
Components of Other Comprehensi
Components of Other Comprehensive Income/(Loss) | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure Text Block [Abstract] | |
Components of Other Comprehensive Income/(Loss) [Text Block] | Note 8 – Components of Other Comprehensive Income/(loss) The following table provides the changes in accumulated other comprehensive income/(loss) by component, net of tax, for the three months ended March 31, 2017 and 2016: (Dollars in thousands) Securities AFS Cash Flow Hedges Pension and Post-retirement Plans Total Balance as of January 1, 2017 $ (17,232) $ (1,265) $ (229,157) $ (247,654) Net unrealized gains/(losses) (1,536) (1,062) - (2,598) Amounts reclassified from AOCI (27) (852) 1,173 294 Other comprehensive income/(loss) (1,563) (1,914) 1,173 (2,304) Balance as of March 31, 2017 $ (18,795) $ (3,179) $ (227,984) $ (249,958) Balance as of January 1, 2016 $ 3,394 $ - $ (217,586) $ (214,192) Net unrealized gains/(losses) 40,180 3,839 - 44,019 Amounts reclassified from AOCI (1,020) (374) 1,126 (268) Other comprehensive income/(loss) 39,160 3,465 1,126 43,751 Balance as of March 31, 2016 $ 42,554 $ 3,465 $ (216,460) $ (170,441) Reclassifications from AOCI, and related tax effects, were as follows: (Dollars in thousands) Three Months Ended March 31 Details about AOCI 2017 2016 Affected line item in the statement where net income is presented Securities AFS: Realized (gains)/losses on securities AFS $ (44) $ (1,654) Debt securities gains/(losses), net Tax expense/(benefit) 17 634 Provision/(benefit) for income taxes (27) (1,020) Cash flow hedges: Realized (gains)/losses on cash flow hedges (1,380) (606) Interest and fees on loans Tax expense/(benefit) 528 232 Provision/(benefit) for income taxes (852) (374) Pension and Postretirement Plans: Amortization of prior service cost and net actuarial gain/(loss) 1,900 1,826 Employee compensation, incentives, and benefits Tax expense/(benefit) (727) (700) Provision/(benefit) for income taxes 1,173 1,126 Total reclassification from AOCI $ 294 $ (268) |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31 (Dollars and shares in thousands, except per share data) 2017 2016 Net income/(loss) $ 58,388 $ 52,213 Net income attributable to noncontrolling interest 2,820 2,851 Net income/(loss) attributable to controlling interest 55,568 49,362 Preferred stock dividends 1,550 1,550 Net income/(loss) available to common shareholders $ 54,018 $ 47,812 Weighted average common shares outstanding - basic 233,076 234,651 Effect of dilutive securities 3,779 2,015 Weighted average common shares outstanding - diluted 236,855 236,666 Net income/(loss) per share available to common shareholders $ 0.23 $ 0.20 Diluted income/(loss) per share available to common shareholders $ 0.23 $ 0.20 The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met: Three Months Ended March 31 (Shares in thousands) 2017 2016 Stock options excluded from the calculation of diluted EPS 2,453 4,119 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 26.08 $ 22.45 Other equity awards excluded from the calculation of diluted EPS 99 1,124 |
Contingencies And Other Disclos
Contingencies And Other Disclosures | 3 Months Ended |
Mar. 31, 2017 | |
Commitments And Contingencies Disclosure Abstract | |
Contingencies And Other Disclosures | Note 10 – Contingencies and Other Disclosures CONTINGENCIES Contingent Liabilities Overview 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 fed eral, 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 matte r 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 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 a loss contingency liability for a litigation matter when loss is both probable and reasonably estimable as prescribed by applicable financial accounting guidance. 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. Material Loss Contingency Matters Summary 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 certain 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 pro bable but is reasonably possible, and that the amount or range of that reasonably possible 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 outcom e for FHN. Set forth below are disclosures for certain pending or threatened litigation matters, including all matters mentioned in (i) or (ii) and certain matters mentioned in (iii). In addition, certain other matters, or groups of 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 th e liability for litigation matters each quarter as the matters progress. At March 31 , 2017 , the aggregate amount of liabilities established for all such loss contingency matters was $ 1.6 million . These liabilities are separate from those discussed under the heading "Repurchase and Foreclosure Liability" below. In each material loss contingency matter, except as otherwise noted, there is more than a remote chance that any 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 , 2017 , 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 $ 52 million. As a result of the general uncertainties discussed above and the specific uncertainties discussed for each matter mentioned below, it is po ssible 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 reasonably po ssible loss (“RPL”) range mentioned above and for matters not included in that range. Material Matters FHN, along with multiple co-defendants, is defending lawsuits brought by investors which claim that the offering documents under which certificates rel ating to First Horizon branded securitizations were sold to them were materially deficient. One of those matters is viewed as material currently: Federal Deposit Insurance Corporation ("FDIC") as 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 plaintiff in that suit claims to have purchased (and later sold) certificates totaling $ 83.4 million, relating to a number of separate securitizations. Plaintiff demands damages and prejudgment interest, among several remedies sought. The current RPL estimate for this matter is subject to significant uncertainties regarding: the dollar amounts claimed; the potential remedies that might be available or awarded; the outcome of any settl ement discussions; the availability of significantly dispositive defenses; and the incomplete status of the discovery process. Additional information concerning FHN’s former mortgage businesses is provided below in “Obligations from Legacy Mortgage Busines ses.” Underwriters are co-defendants in the FDIC-New York matter 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 indemn ity demands from underwriters in certain other suits as to which investors claim to have purchased certificates in FH proprietary securitizations but as to which FHN has not been named a defendant. For most pending indemnity claims FHN is unable to estim ate 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 l imitations or repose; the outcome of potentially dispositive early-stage motions such as motions to dismiss; the incomplete status of the discovery process; the lack of a precise statement of damages; and lack of precedent claims. The alleged purchase pric es of the certificates subject to pending indemnification claims, excluding the FDIC-New York matter, total $ 409.9 million. FHN is defending a suit filed in January 2017 by the successor to a purchaser of other whole loans sold, ResCap Liquidating Trust, which is pending in the U.S District Court for the District of Minnesota (Case No. 17-CV-194). Plaintiff claims that FHN breached representations and warranties made in the loan sales, which occurred over many years, and that FHN is obligated to indemnify plaintiff for certain losses. The suit seeks make-whole and other damages, indemnification, a declaratory judgment, and other remedies. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regard ing, among other things: lack of information about the claims made; the prospects for potentially dispositive early-stage motions; the prospects for significantly dispositive defenses; the scope of potential remedies that might be available or awarded; lac k of discovery; lack of a precise statement of damages; and lack of precedent claims. FHN has additional potential exposures related to its former mortgage businesses. A few of those matters have become litigation which FHN currently estimates are immateri al, some are non-litigation claims or threats, some are mere subpoenas or other requests for information, and in some areas FHN has no indication of any active or threatened dispute. Some of those matters might eventually result in loan repurchases or make -whole payments and could be included in the repurchase liability discussed below, and some might eventually result in damages or other litigation-oriented liability, but none are included in the material loss contingency liabilities mentioned above or in the RPL range mentioned above. Additional information concerning such exposures is provided below in “Obligations from Legacy Mortgage Businesses.” Material Gain Contingency Matter In second quarter 2015 FHN reached an agreement with DOJ and HU D to settl e potential claims related to FHN’s underwriting and origination of loans insured by FHA. Under that agreement F HN paid $ 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 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 a ssociated 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 a reasonably possible ( more than remote) chance of a mat erial 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; the ultimate effect of counterclaims asserted by the defendants; and incomplete discovery. Additional information concerning FHN’s former mortgage businesses is provided below i n “Obligations from Legacy Mortgage Businesses.” Obligations from Legacy Mortgage Businesses Loss contingencies mentioned above under “Material Matters” stem from FHN’s former mortgage origination and servicing businesses. FHN retains potential for further exposure, in addition to the matters mentioned, from those former businesses. The following discussion provides context and other information to enhance an understanding of those matters and exposures. Overview Prior to September 2008 FHN originated loans through its legacy mortgage business, primarily first lien home loans, with the intention of selling them. Sales typically were effected either as non-recourse whole-loan sales or through non-recourse proprietary securitizations. Conventional conforming s ingle-family residential mortgage loans were sold predominately to two GSEs: Fannie Mae and Freddie Mac. Also, federally insured or guaranteed whole loans were pooled, and payments to investors were guaranteed through Ginnie Mae. Many mortgage loan origin ations, especially nonconforming mortgage loans, were sold to investors, or certificate-holders, predominantly through FH proprietary securitizations but also, to a lesser extent, through other whole loans sold to private non-Agency purchasers. FHN used on ly one trustee for all of its FH proprietary securitizations. FHN also originated mortgage loans eligible for FHA insurance or VA guaranty. In addition, FHN originated and sold HELOCs and second lien mortgages through other whole loans sold to private purc hasers and, to a lesser extent, through FH proprietary securitizations. Currently, only one FH securitization of HELOCs remains outstanding. For non-recourse loan sales, FHN has exposure for repurchase of loans, make-whole damages, or other related damage s, arising from claims that FHN breached its representations and warranties made at closing to the purchasers, including GSEs, other whole loan purchasers, and the trustee of FH proprietary securitizations. During the time these legacy activities were co nducted, FHN frequently sold mortgage loans “with servicing retained.” As a result, FHN accumulated substantial amounts of MSR on its consolidated balance sheet, as well as contractual servicing obligations and related deposits and receivables. FHN conduct ed a significant servicing business under its First Horizon Home Loans brand. 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 first lien loans sold or securitized having an LTV ratio at origination of greater than 80 percent. In 2007, market conditions deteriorated to the point where mortgage-backed securitizations no longer could be sold economically; FHN’s last securitization occurred that year. FHN continued selling mortgage loans to GSEs until August 31, 2008, when FHN sold its national mortgage origination and servicing platforms along with a portion of its servicing assets and obligations. FHN contracte d to have its remaining servicing obligations sub-serviced. Since the platform sale FHN has sold substantially all remaining servicing assets and obligations. Certain mortgage-related terms used in this “Contingencies” section are defined in “Mortgage-Re lated Glossary” at the end of this Overview. Repurchase and Make-Whole Obligations Starting in 2009, FHN received a high number of claims either to repurchase loans from the purchaser or to pay the purchaser to “make them whole” for economic losses incur red. These claims have been driven primarily by loan delinquencies. In repurchase or make-whole claims a loan purchaser typically asserts that specified loans violated representations and warranties FHN made when the loans were sold. A significant majority of claims received overall have come from GSEs, and the remainder are from purchasers of other whole loan sales. FHN has not received a loan repurchase or make-whole claim from the FH proprietary securitization trustee. Generally, FHN reviews each claim a nd MI cancellation notice individually. FHN’s responses include appeal, provide additional information, deny the claim (rescission), repurchase the loan or remit a make-whole payment, or reflect cancellation of MI. After several years resolving repurchase and make-whole claims with each GSE on a loan-by-loan basis, in 2013 and 2014 FHN entered into DRAs with the GSEs, resolving at once a large fraction of potential claims. Starting in 2014, the overall number of such claims diminished substantially, primari ly as a result of the DRAs. Each DRA resolved obligations associated with loans originated from 2000 to 2008, but certain obligations and loans were excluded. Under each DRA , FHN remains responsible for repurchase obligations related to certain excluded de fects (such as title defects and violations of the GSE's Charter Act) and FHN continues to have loan repurchase or monetary compensation obligations under the DRAs related to private mortgage insurance rescissions, cancellations, and denials (with certain exceptions). FHN also has exposure related to loans where there has been a prior bulk sale of servicing, as well as certain other whole-loan sales. With respect to loans where there has been a prior bulk sale of servicing, FHN is not responsible for MI can cellations and denials to the extent attributable to the acts of the current servicer. While large portions of repurchase claims from the GSEs were settled with the DRAs, comprehensive settlement of repurchase, make-whole, and indemnity claims with non-Age ncy claimants is not practical. Such claims that are not resolved by the parties can, and sometimes have, become litigation. FH Proprietary Securitization Actions FHN has potential financial exposure from FH proprietary securitizations outside of the repu rchase/make-whole process. Several investors in certificates sued FHN and others starting in 2009, and several underwriters or other counterparties have demanded that FHN indemnify and defend them in securitization lawsuits. The pending suits generally ass ert that disclosures made to investors in the offering and sale of certificates were legally deficient. Servicing Obligations FHN’s national servicing business was sold as part of the platform sale in 2008. A significant amount of MSR was sold at that tim e, and a significant amount was retained. The related servicing activities, including foreclosure and loss mitigation practices, not sold in 2008 were outsourced through a three-year subservicing arrangement (the “2008 subservicing agreement”) with the pla tform buyer (the “2008 subservicer”). The 2008 subservicing agreement expired in 2011 when FHN entered into a replacement agreement with a new subservicer (the “2011 subservicer”). In fourth quarter 2013, FHN contracted to sell a substantial majority of it s remaining servicing obligations and servicing assets (including advances) to the 2011 subservicer. The servicing was transferred to the buyer in stages, and was substantially completed in first quarter 2014. The servicing still retained by FHN continues to be subserviced. As servicer, FHN had contractual obligations to the owners of the loans (primarily GSEs) and securitization trustees, to handle billing, custodial, and other tasks related to each loan. Each subservicer undertook to perform those obliga tions on FHN’s behalf during the applicable subservicing period, although FHN legally remained the servicer of record for those loans that were subserviced. The 2008 subservicer has been subject to a consent decree, and entered into a settlement agreement with regulators related to alleged deficiencies in servicing and foreclosure practices. The 2008 subservicer has made demands of FHN, under the 2008 subservicing agreement, to pay certain resulting costs and damages totaling $ 43.5 million. FHN disagrees wi th those demands and has made no payments. This disagreement has the potential to result in litigation and, in any such future litigation, the claim against FHN may be substantial. A certificate holder has contacted FHN, claiming that it has been damaged f rom alleged deficiencies in servicing loans held in certain FH proprietary securitization trusts. The holder has sued the FH securitization trustee on related grounds, but has not yet sued FHN. FHN cannot predict how this matter will proceed nor can FHN pr edict whether this matter ultimately will be material to FHN. Origination Data From 2005 through 2008, FHN originated and sold $ 69.5 billion of mortgage loans to the Agencies. This includes $ 57.6 billion of loans sold to GSEs and $ 11.9 billion of loans guaranteed by Ginnie Mae. Although FHN conducted these businesses before 2005, GSE loans originated in 2005 through 2008 account for a substantial majority of all repurchase requests/make-whole claims received since the 2008 platform sale. From 2005 throu gh 2007, $ 26.7 billion of mortgage loans were included in FH proprietary securitizations. The last FH securitization occurred in 2007 . Mortgage-Related Glossary Agencies the two GSEs and Ginnie Mae HELOC home equity line of credit certificates securities sold to investors representing interests in mortgage loan securitizations HUD Dept. of Housing and Urban Development DOJ U.S. Department of Justice LTV loan-to-value, a ratio of the loan amount divided by the home value DRA definitive resolution agreement with a GSE MI private mortgage insurance, insuring against borrower payment default Fannie Mae, Fannie, FNMA Federal National Mortgage Association MSR mortgage servicing rights FH proprietary securitization securitization of mortgages sponsored by FHN under its First Horizon brand nonconforming loans loans that did not conform to Agency program requirements FHA Federal Housing Administration other whole loans sold mortgage loans sold to private, non-Agency purchasers Freddie Mac, Freddie, FHLMC Federal Home Loan Mortgage Corporation 2008 platform sale, platform sale, 2008 sale FHN's sale of its national mortgage origination and servicing platforms in 2008 Ginnie Mae, Ginnie, GNMA Government National Mortgage Association pipeline or active pipeline pipeline of mortgage repurchase, make-whole, & certain related claims against FHN GSEs Fannie Mae and Freddie Mac VA Veterans Administration Repurchase and Foreclosure Liability The repurchase and foreclosure liability is comprised of reserves to cover estimated loss content in the active pipeline, estimated future inflows, as well as estimated loss content related to certain known claims not currently included in the active pipeline. FHN compares the estimated probable incurred losses determined under the applicable loss estimation approaches for the respective periods with current reserve levels. Changes in the estimated required liability le vels are recorded as necessary through the repurchase and foreclosure provision. Based on currently available information and experience to date, FHN has evaluated its loan repurchase, make-whole, and certain related exposure s and has accrued for losses o f $ 65.5 million and $ 66.0 million as of March 31, 2017 and December 31, 2016, respectively, including a smaller amount related to equity-lending junior lien loan sales . Accrued liabilities for FHN’s estimate of these obligations are reflected in Other liab ilities on the Consolidated Condensed Statements of Condition. Charges/expense reversals to increase/decrease the liability are included within Repurchase and foreclosure provision /( provision credit) on the Consolidated Condensed Statements of Income. The estimate s are based upon currently available information and fact patterns that exist as of the balance sheet date s and could be subject to future changes. Changes to any one of these factors could significantly impact the estimate of FHN's liability. Other FHN Mortgag e Exposures FHN’s FHA and VA program lending was substantial prior to the 2008 platform sale, and has continued at a much lower level since then. As lender, FHN made certain representations and warranties as to the compliance of the loans with program requ irements. Over the past several years, most recently in first quarter 2015, FHN occasionally has recognized significant losses associated with settling claims and potential claims by government agencies, and by private parties asserting claims on behalf of agencies, related to these origination activities. At March 31, 2017, FHN had not accrued a liability for any matter related to these government lending programs, and no pending or known threatened matter related to these programs represented a material l oss contingency described above. At March 31, 2017, FHN had not accrued a liability for exposure for repurchase of first-lien loans related to FH proprietary securitizations arising from claims from the trustee that FHN breached its representations and war ranties in FH proprietary securitizations at closing. FHN’s trustee is a defendant in lawsuits in which the plaintiffs have asserted that the trustee has duties to review loans and otherwise to act against FHN outside of the duties specified in the applica ble trust documents; FHN is not a defendant and is not able to assess what, if any, exposure FHN may have as a result of them. FHN is defending, directly or as indemnitor, certain pending lawsuits brought by purchasers of certificates in FH proprietary sec uritizations or their assignees. FHN believes a new lawsuit based on federal securities claims that offering disclosures were deficient cannot be brought at this time due to the running of applicable limitation periods, but other investor claims, based on other legal theories, might still be possible. Due to sales of MSR starting in 2008, FHN has limited visibility into current loan information such as principal payoffs, refinance activity, delinquency trends, and loan modification activity. Many non-GSE p urchasers of whole loans from FHN included those loans in their own securitizations. Regarding such other whole loans sold, FHN made representations and warranties concerning the loans and provided indemnity covenants to the purchaser/securitizer. Typicall y the purchaser/securitizer assigned key contractual rights against FHN to the securitization trustee. As mentioned above, repurchase, make-whole, indemnity, and other monetary claims related to specific loans are included in the active pipeline and repurc hase reserve. In addition, currently the following categories of actions are pending which involve FHN and other whole loans sold: (i) FHN has received indemnification requests from purchasers of loans or their assignees in cases where FHN is not a defenda nt; (ii) FHN has received subpoenas seeking loan reviews in cases where FHN is not a defendant; (iii) FHN has received repurchase demands from purchasers or their assignees; and (iv) FHN is a defendant in legal actions involving FHN-originated other whole loans sold, including one of the material matters mentioned above. At March 31, 2017, FHN’s repurchase and foreclosure liability considered certain known exposures from other whole loans sold. Certain government entities have subpoenaed information from F HN and others. These entities include the FDIC (on behalf of certain failed banks) and the FHLBs of San Francisco, Atlanta, and Seattle, among others. These entities purport to act on behalf of several purchasers of FH proprietary securitizations, and of n on-FH securitizations which included other whole loans sold. Collectively, the subpoenas seek information concerning: a number of FH proprietary securitizations and/or underlying loan originations; and originations of certain other whole loans sold which, in many cases, were included by the purchaser in its own securitizations. Some subpoenas fail to identify the specific investments made or loans at issue. Moreover, FHN has limited information regarding at least some of the loans under review. Unless and u ntil a review (if related to specific loans) becomes an identifiable repurchase claim, the associated loans are not considered part of the active pipeline. 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 me mbers 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 C lass A shares of Visa is prohibited until the final resolution of the covered litigation. In conjunction with the prior sales of Visa C lass 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 C lass B shares into Visa C lass A shares is adjusted. The conversion ratio is adjusted when Visa deposit s funds into the escrow accou nt to cover certain litigation. As of March 31, 2017 and December 31, 2016, the derivative liabilities were $ 6.0 million and $ 6.2 million , respectively. I n 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 S ettlement attributable to Visa and an assessment of FHN's contingent liability accrued for Visa litigation matters, the Se ttlement did not have a material impact on FHN. The Settlement was vacated upon appeal in June 2016. Accordingly, t he outcome of this matter remains uncertain. Additionally, other Covered Litigation matters are also pending judicial resolution, including n ew 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 is restricted, with limited exceptions. FHN now holds approximately 1.1 million Visa Cl ass 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 . As of March 31 , 2017 , the conversion ratio is 165 percent reflecting a Vi sa stock split in March 2015 , and the contingent liability is $ .8 million. Future funding of the escrow would dilute this conversion ratio by an amount that is not determinable at present. Based on the closing price on March 31, 2017, assuming conversion i nto Class A shares at the current conversion ratio, FHN’s Visa holdings would have a value of approximately $ 163 million. Recognition of this value is dependent upon the final resolution of the remainder of Visa’s Covered Litigation matters without further reduction of the conversion ratio. 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 warra nties 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 Emp
Pension, Savings, And Other Employee Benefits | 3 Months Ended |
Mar. 31, 2017 | |
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 compens ation changes after 2012 do not affect the benefit owed. Minimum contributions are based upon actuarially determined amounts nece ssary to fund the total benefit obligation. Decisions to contribute to the plan are based upon pension funding requirements und er the Pension Protection Act, the maximum amount deductible under the Internal Revenue Code, the actual performance of plan assets, and trends in the regulatory environment. FHN contributed $ 165 million to the qualified pension plan in third quarter 2016 . The contribution had no effect on FHN’s 2016 Consolidated Statements of Income. FHN did not make any contributions to the qualified pension plan in the first quarter of 2017 . Management does not currently anticipate that FHN will make a contribution to the qualified pension plan for the remainder of 2017 . 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 o ther 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 $ 5.1 million for 2016 . FHN anticipates making benefit payments under the non- qualified plans of $ 5.0 million in 2017 . Savings plan. FHN provides all qualifying full-time employees with t he 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 matching contributions invested according to a participant’s current investment elections. Throu gh 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 provid es 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 pa rticipants. 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) 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ 9 $ 10 $ 27 $ 28 Interest cost 7,379 7,882 326 317 Expected return on plan assets (8,891) (9,773) (237) (229) Amortization of unrecognized: Prior service cost/(credit) 13 49 24 43 Actuarial (gain)/loss 2,380 2,068 (142) (233) Net periodic benefit cost/(credit) $ 890 $ 236 $ (2) $ (74) |
Business Segment Information
Business Segment Information | 3 Months Ended |
Mar. 31, 2017 | |
Business Segment Information [Abstract] | |
Business Segment Information | Note 12 – Business Segment Information FHN has four business segments : regional banking, fixed income , corporate, and non-strategic. The regional banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial customers in Tennessee and other selected markets. Regional banking also 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 fixed income segment consists of fixed income securities sales, trading, and strategies for institutional clients in the U.S. and abroad, as wel l as loan sales, portfolio advisory services , and derivative sales. The corporate segment consists of unallocated corporate expens es, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equi ty, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, derivative valuation adjustments related to prior sale s of Visa Class B shares, and acquisition-related costs . The non-strategic segment consists of the wind-down national consumer lending activities, legacy mortgage banking elements including servicing fees, 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 . 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. Business segment revenue, expense, asset, and equity 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, to an extent they are 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 average assets for each segment for the three months ended March 31: Three Months Ended March 31 (Dollars in thousands) 2017 2016 Consolidated Net interest income $ 189,708 $ 172,074 Provision/(provision credit) for loan losses (1,000) 3,000 Noninterest income 116,939 134,305 Noninterest expense 222,205 226,927 Income/(loss) before income taxes 85,442 76,452 Provision/(benefit) for income taxes 27,054 24,239 Net income/(loss) $ 58,388 $ 52,213 Average assets $ 28,806,106 $ 26,618,694 Three Months Ended March 31 (Dollars in thousands) 2017 2016 Regional Banking Net interest income $ 193,389 $ 172,312 Provision/(provision credit) for loan losses 3,098 14,767 Noninterest income 58,976 59,276 Noninterest expense 148,065 145,399 Income/(loss) before income taxes 101,202 71,422 Provision/(benefit) for income taxes 36,623 25,407 Net income/(loss) $ 64,579 $ 46,015 Average assets $ 17,955,319 $ 15,945,192 Fixed Income Net interest income $ 1,151 $ 2,667 Noninterest income 50,822 67,122 Noninterest expense 48,685 58,623 Income/(loss) before income taxes 3,288 11,166 Provision/(benefit) for income taxes 1,024 3,892 Net income/(loss) $ 2,264 $ 7,274 Average assets $ 1,875,708 $ 2,269,678 Corporate Net interest income/(expense) $ (14,100) $ (14,363) Noninterest income 5,476 5,723 Noninterest expense 16,880 13,461 Income/(loss) before income taxes (25,504) (22,101) Provision/(benefit) for income taxes (13,093) (11,246) Net income/(loss) $ (12,411) $ (10,855) Average assets $ 7,359,015 $ 6,362,224 Non-Strategic Net interest income $ 9,268 $ 11,458 Provision/(provision credit) for loan losses (4,098) (11,767) Noninterest income 1,665 2,184 Noninterest expense 8,575 9,444 Income/(loss) before income taxes 6,456 15,965 Provision/(benefit) for income taxes 2,500 6,186 Net income/(loss) $ 3,956 $ 9,779 Average assets $ 1,616,064 $ 2,041,600 Certain previously reported amounts have been reclassified to agree with current presentation. |
Variable Interest Entities
Variable Interest Entities | 3 Months Ended |
Mar. 31, 2017 | |
Variable Interest Entities [Abstract] | |
Variable Interest Entities | Note 13 – Variable Interest Entities ASC 810 defines a VIE as a legal entity where (a) the equity investors, as a group, lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support, (b) 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, or (3) the right to rece ive the expected residual returns of the entity, or (c) the entity is structured with non-substantive voting rights. A variable interest is a contractual ownership or other interest that fluctuates with changes in the fair value of the VIE’s net assets e xclusive 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 wheth er 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 t o receive benefits from the VIE that could potentially be significant. Consolidated Variable Interest Entities FHN holds variable interests in a proprietary HELOC securitization trust it established 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 trust’s economic performance. The retention of MSR and a resid ual interest results in FHN potentially ab sorbing losses or receiving benefits that are significant to the trust. FHN is considered the primary beneficiary, as it is assumed to have the power, as Master Servicer, to most significantly impact the activities of the VIE. Consolidation of the trust re sults 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 trust securities. Through first quarter 2016 t he trust experienced a rapi d amortization period and FHN wa s obligated to provide subordinated funding. During the period , cash payments from borrowers we re accumulated to repay outstanding debt securities while FHN continue d to make adv ances to borrowers when they dre w on their lin es of credit. FHN then transfer red the newly generated receivables into the securitization trust . FHN is reimbursed for these advances only after other parties in the securitization have received all of the cash flows to which they are entitled. If loan lo sses requiring draws on the rela ted monoline insurers’ policies ( which protect bondholders i n 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 monoli ne insurers typically have priority for repayment. Amounts funded from monoline insurance policies are considered restricted term borrowings in FHN’s Consolidated Condensed Statements of Condition. Except for recourse due to breaches of representations and warrantie s 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. 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 the re 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 significan tly 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 t o 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, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 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 $ - N/A $ - N/A Loans, net of unearned income 32,486 N/A 35,873 N/A Less: Allowance for loan losses 244 N/A 587 N/A Total net loans 32,242 N/A 35,286 N/A Other assets 150 $ 76,149 283 $ 74,160 Total assets $ 32,392 $ 76,149 $ 35,569 $ 74,160 Liabilities: Term borrowings $ 19,819 N/A $ 23,126 N/A Other liabilities 3 $ 57,559 3 $ 54,746 Total liabilities $ 19,822 $ 57,559 $ 23,129 $ 54,746 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 units that are leased to qualify ing 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 per formance 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 entities’ economic performance and the managing members are exposed to all losses beyond FTHC’s initial capita l contributions and funding commitments. FHN accounts for all qualifying LIHTC investments under the proportional amortization method. Under this 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). LIHTC investments that do not qualify for the proportional amortization method are accounted for using the equity method . Expenses associated with these investments were not significant for the three months ended March 17, 2017 and 2016. The following table summarizes the impact to the Provision/(benefit) for i ncome taxes on the Consolidated Condensed Statements of Income f or the three months ended March 31, 2017, and 2016 for LIHTC investments accounted for under the p roportional amortization method. Three Months Ended Three Months Ended (Dollars in thousands) March 31, 2017 March 31, 2016 Provision/(benefit) for income taxes: Amortization of qualifying LIHTC investments $ 2,278 $ 2,298 Low income housing tax credits (2,400) (2,523) Other tax benefits related to qualifying LIHTC investments (919) (1,110) Other Tax Credit Investments. 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 reinvest ment 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 e ntity 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. FTHC also makes equity investments as a limited partner or non-managing member in entities that receive Historic Tax Credits pursuant to Section 47 of the Internal Revenue Code. The purpose of these entities is the rehabilitation of historic buildings with the tax credits provided to incent private investment in the historic cores of cities and towns. These entities 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 entities as it has a risk of loss for its capital contributions and funding commitments to each partnership. The managing members are considered the prima ry beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the entities’ economic performance and the managing members are exposed to all losses beyond FTHC’s initial capital contributions and fundi ng commitments. 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 ri ghts 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 equ ity 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 wh ich 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 n ot 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 require ments to provide financial support to the trust. Proprietary Residential Mortgage Securitizations. FHN holds variable interests (primarily principal-only strips) in proprietary residential mortgage securitization trusts it established prior to 2008 as a so urce of liquidity for its mortgage banking operations. Prior to fourth quarter 2016 these interests included MSR and interest-only strips. 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 h olders 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 it held MSR, FHN was assumed to have the power as servicer to most sign ificantly impact the activities of such VIEs. However, in situations where FHN did not have the ability to participate in significant portions of a securitization trust’s cash flows, FHN was not considered the primary beneficiary of the trust. Therefore, t hese trusts were not consolidated by FHN. 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 sinc e 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 los ses 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 impa ct 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 i ts 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 restructuri ng of the terms of the debt that allows for preparation of the underlying collateral for sale. Sale Leaseback Transaction . FTB has entered into an agreement with a single asset leasing entity for the s ale and lease back of an office buil ding. In conjunction with this transaction, FTB loaned funds to a related party of the buyer that were used for the purchase price of the building. FTB also entered into a construction loan agreement with the single asset entity for renovation of the build ing. Since this transaction did not qualify as a sale, it is being accounted for using the deposit method which creates a net asset or liability for all cash flows between FTB and the buyer. The buyer-lessor in this transaction meets the definition of a VI E as it does not have sufficient equity at risk since FTB is providing the funding for the purchase and renovation. A r elated part y of the buyer-lessor has the power to direct the activities that most significantly impact the operations and could potentially receive benefits or absorb losses that are significant to the transactions, making it the primary b eneficiary. Therefore, FTB does not consolidate the l easing entity . The following table summarizes FHN’s nonconsolidated VIEs as of March 31, 2017: Maximum Liability (Dollars in thousands) Loss Exposure Recognized Classification Type Low income housing partnerships $ 71,114 $ 14,749 (a) Other tax credit investments (b) (c) 21,210 - Other assets Small issuer trust preferred holdings (d) 332,959 - Loans, net of unearned income On-balance sheet trust preferred securitization 49,361 64,812 (e) Proprietary residential mortgage securitizations 2,330 - Trading securities Holdings of agency mortgage-backed securities (d) 4,289,239 - (f) Commercial loan troubled debt restructurings (g) 35,295 - Loans, net of unearned income Sale-leaseback transaction 14,827 - (h) Maximum loss exposure represents $ 56 . 4 million of current investments and $ 14 . 7 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 2017 . A lia bility is not recognized as investments are written down over the life of the related tax credit . Maximum loss exposure represe nts 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 ho lder 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 $ 64.8 million classified as Term borrowings. Includes $ .5 b illion classified as Trading securities and $ 3 . 8 billion cla ssified as Securities available-for- sale. Ma ximum loss exposure represents $ 34.5 million of current receivables and $ .8 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring . Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. The following table summarizes FHN's nonconsolidated VIEs as of December 31, 2016: Maximum Liability (Dollars in thousands) Loss Exposure Recognized Classification Type Low income housing partnerships $ 73,582 $ 17,398 (a) Other tax credit investments (b) (c) 21,898 - Other assets Small issuer trust preferred holdings (d) 332,985 - Loans, net of unearned income On-balance sheet trust preferred securitization 49,361 64,812 (e) Proprietary residential mortgage securitizations 2,568 - Trading securities Holdings of agency mortgage-backed securities (d) 4,163,313 - (f) Commercial loan troubled debt restructurings (g) 42,696 - Loans, net of unearned income Sale-leaseback transaction 11,827 - (h) Maximum loss exposure represents $ 56.2 million of current investments and $ 17.4 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 2017 . A liability is not recognized as investments are written down over the life of the related tax credit. Maximum loss exposure represe nts 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 ho lder 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 $ 64 . 8 million classified as Term borrowings. Includes $ . 4 b illion classified as Tradi ng securities and $ 3 . 8 billion cla ssified as Securities available-for- sale. Maximum loss exposure represents $ 37.5 million of current receivables and $ 5.2 million of contractual funding commitments on loans related to commercial borrowers involved in a tro ubled debt restructuring . Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor . |
Derivatives
Derivatives | 3 Months Ended |
Mar. 31, 2017 | |
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 fixed income 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 the amount of 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/Liabili ty 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 th rough 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. Commencing in first quarter 2017, a central clearinghouse revised the treatment of daily margin posted or received from collateral to legal settlements of the related derivative contracts. This change resulted in a reduction in deriva tive assets and liabilities and corresponding reductions in collateral posted and received as these amounts are now presented net by contract in the Consolidated Condensed Statements of Condition. This change has no effect on hedge accounting or gains/losses for the a pplicable derivative contracts. On March 31 , 2017 and December 31, 2016, respectively, FHN had $ 41.9 million and $ 47 . 8 million of cash receivables and $ 29.4 million and $ 32 . 8 million of cash payables related to collateral posting under master netting arr angements, inclusive of collateral posted related to contracts with adjustable collate ral 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 insu fficient 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 meas ures this risk through the use of models that measure value-at-risk and earnings-at-risk. Derivative Instruments. FHN enters into various derivative cont racts both in a dealer capacity to f acilitate customer transactions and as a risk management tool. Wher e contracts have been created for customers, FHN enters into upstream 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 ar e 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 inst rument 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. Swap tions 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. Trading Activities FHN’s fixed income segment 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. Fixed income al so enters into interest rate contracts, including caps, swaps, and floors, for its customers. In addition, fixed income 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 fixed income 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 proced ure s. Total trading revenues were $ 42.7 million and $ 57.6 million for the three months ended March 31 , 2017 and 2016 , respectively. T rading revenues are inclusive of both derivative and non-derivative financial instruments, and are included in fixed i ncome noninterest income . The following tables summarize FHN’s derivatives associated with fixed income trading activities as of March 31, 2017 and December 31, 2016: March 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts $ 1,743,855 $ 34,060 $ 15,510 Offsetting Upstream Interest Rate Contracts 1,743,855 15,258 31,677 Option Contracts Purchased 60,000 86 - Forwards and Futures Purchased 3,804,024 11,817 5,230 Forwards and Futures Sold 3,817,997 5,410 13,135 December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts $ 1,697,992 $ 39,495 $ 14,996 Offsetting Upstream Interest Rate Contracts 1,697,992 14,996 39,495 Option Contracts Purchased 17,500 63 - Option Contracts Written 5,000 - 8 Forwards and Futures Purchased 2,916,750 6,257 26,659 Forwards and Futures Sold 3,085,396 27,330 6,615 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, primarily swaps, 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 va lue of long term debt is recognized as an adjustment of the interest expense of the liabilities whose risk is being managed. FH N’s interest rate risk management policy is to use derivatives to hedge interest rate risk or market value of assets or liabiliti es, not to speculate. In addition, FHN has entered into certain interest rate swaps and caps as a part of a product offer ing 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. F HN 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. The balance sheet impact of this swap was $ .3 million and $ 1.6 million in Derivative assets as of March 31 , 2017 and December 31, 2016, respectively. There was an insignificant level of ineffectiveness related to this hedge. FHN has designated a derivative transaction in a hedging strategy to manage interest rate risk on $ 500.0 million of senior debt which matures in December 2020. This qu alifies 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. The balance sheet impact of this swap was $ .5 million in Derivat ive assets as of March 31, 2017 and $ 7.3 million in Derivative liabilities as of December 31, 2016. 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 March 31, 2017 and December 31, 2016: March 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer Interest Rate Contracts $ 1,450,711 $ 15,401 $ 15,388 Offsetting Upstream Interest Rate Contracts 1,450,711 14,053 14,277 Debt Hedging Hedging Instruments: Interest Rate Swaps $ 900,000 $ 749 N/A Hedged Items: Term Borrowings N/A N/A $ 900,000 (a) December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer Interest Rate Contracts $ 1,357,920 $ 17,566 $ 14,277 Offsetting Upstream Interest Rate Contracts 1,357,920 14,277 18,066 Debt Hedging Hedging Instruments: Interest Rate Swaps $ 900,000 $ 1,628 $ 7,276 Hedged Items: Term Borrowings N/A N/A $ 900,000 (a) Represents par value of term borrowings being hedged. The following table summarizes gains/(losses) on FHN's derivatives associated with interest rate risk management activities for the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer Interest Rate Contracts (a) $ (3,276) $ 12,559 Offsetting Upstream Interest Rate Contracts (a) 3,276 (12,559) Debt Hedging Hedging Instruments: Interest Rate Swaps (a) $ (2,800) $ 17,037 Hedged Items: Term Borrowings (a) (b) 2,733 (16,745) Gains/losses included in the All other expense section of the Consolidated Condensed Statements of Income. Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships . In first quarter 2016, FHN entered into a pay floating, receive fixed interest rate swap in a hedging strategy to manage its exposure to the variability in cash flows related to the interest payments for the following five years on $ 250 million principal of debt in s truments, which primarily consist of held-to-maturity trust preferred loans that have variable interest payments based on 3-month LIBOR . In first quarter 2017, FHN initiated cash flow hedges of $ 650 million notional amount tha t have durations between three and seven years. The debt instruments primarily consist of held-to-maturity commercial loans that have variable interest payments based on 1-month LIBOR. These qualify for hedge accounting as cash flow hedges under ASC 815-20 . Changes in the fair value of these derivatives are recorded as a component of AOCI, to the extent that the hedging relationships are effective. Amounts are reclassified from AOCI to earnings as the hedged cash flows affect earnings. FTB measures the inef fectiveness using the Hypothetical Derivative Method. AOCI is adjusted to an amount that reflects the lesser of either the cumulative change in fair value of the swap s or the cumulative change in the fair value of the hypothetical derivative instrument s . T o the extent that any ineffectiveness exists in the hedge relationships, the amounts are recorded in current period earnings. Interest paid or received for these swaps is recognized as an adjustment to interest income of the assets whose cash flows are bei ng hedged. The following tables summarize FHN’s derivative activities associated with cash flow hedges as of March 31, 2017 and December 31, 2016: March 31, 2017 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest Rate Swaps $ 900,000 $ 1,286 N/A Hedged Items: Variability in Cash Flows Related to Debt Instruments (Primarily Loans) N/A $ 900,000 N/A December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest Rate Swaps $ 250,000 N/A $ 2,045 Hedged Items: Variability in Cash Flows Related to Debt Instruments (Primarily Loans) N/A $ 250,000 N/A The following table summarizes gains/(losses) on FHN's derivatives associated with cash flow hedges for the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Cash Flow Hedges Hedging Instruments: Interest Rate Swaps (a) (b) $ (3,101) $ 5,618 Hedged Items: Variability in Cash Flows Related to Debt Instruments (Primarily Loans) N/A N/A Amount represents the pre-tax gains/(losses) included within AOCI . Includes approximately $ 1.5 million of losses expected to be reclassified into earnings in the next twelve months . FHN hedges held-to-maturity trust preferred loans w hich 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 los ses are included in Other income and commissions on the Consolidated Condensed Statements of Income . These hedges expire in third quarter 2017 . The following tables summarize FHN’s derivative activities associated with held-to-maturity trust preferred loans as of March 31, 2017 and December 31, 2016: March 31,2017 (Dollars in thousands) Notional Assets Liabilities Loan Portfolio Hedging Hedging Instruments: Interest Rate Swaps $ 6,500 N/A $ 134 Hedged Items: Trust Preferred Loans (a) N/A $ 6,500 (b) N/A December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Loan Portfolio Hedging Hedging Instruments: Interest Rate Swaps $ 6,500 N/A $ 208 Hedged Items: Trust Preferred Loans (a) N/A $ 6,500 (b) N/A Assets included in the Loans, net of unearned income section of the Consolidated Condensed Statements of Condition. Represents principal balance being hedged. The following table summarizes gains/(losses) on FHN's derivatives associated with held-to-maturity trust preferred loans for the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Loan Portfolio Hedging Hedging Instruments: Interest Rate Swaps $ 74 $ 43 Hedged Items: Trust Preferred Loans (a) $ (74) $ (42) 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 a djusted. As of March 31 , 2017 and December 31, 2016, the derivative liabilities asso ciated with the sales of Visa Class B shares were $ 6 . 0 million and $ 6.2 million, respectively. 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 , 2017 and December 31, 2016, these loans were valued at $ 1 .9 million and $ 3.8 million, respectively. The balance sheet amount and the gains/losses associated with these derivatives were not significant . Master Netting and Similar A greements As previously discussed, FHN uses master netting agreements, mutual margining agreements and collateral posting requirements to minimize credit risk on derivative contract s . 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 w ith each respective counterparty. For contracts that require central clearing, novation to a counterparty with access to a clearinghouse occurs and margin is posted. Cash margin received (posted) that is considered settlements for the derivative contracts is included in the respective derivative asset (liability) value. Cash margin that is considered collateral received (posted) for interest rate derivatives is recognized as a liability (asset) on FHN’s Consolidated Condensed Statements of Condition . Intere st 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 Conden sed 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 collater al 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 c ould 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 FTBN A 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 $ 31.3 million of assets and $ 44 . 1 million of liabilities on March 31 , 2017 , and $ 35 . 9 million of assets and $ 49 . 0 million of liabilities on December 31, 2016. As of March 31 , 2017 and December 31, 2016, FHN had received collateral of $ 121 . 2 million and $ 137.6 million and posted collateral of $ 33 . 0 million and $ 39 . 3 mil lion, 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 cr edit 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 requ ire 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 $ 30.7 million of ass ets and $ 19 . 2 million of liabilities on March 31 , 2017 , and $ 35 . 9 million of assets and $ 19 . 6 million of liabilities on December 31, 2016. As of March 31 , 2017 and December 31, 2016, FHN had received collateral of $ 120.6 million and $ 137.5 million and posted collateral of $ 10 . 0 million and $ 12 . 9 million, respectively, in the normal course of business related to these contracts. FHN’s fixed income segment buys and sells various types of securities for its customers. When these securities settle on a del ayed 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 c ollateral is not reflected in the following tables. The following table provides details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of March 31, 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Derivative Gross amounts offset in the assets presented liabilities of recognized Statements of in the Statements available for Collateral (Dollars in thousands) assets Condition of Condition (a) offset Received Net amount Derivative assets: March 31, 2017 (b) $ 80,807 $ - $ 80,807 $ (18,674) $ (46,189) $ 15,944 December 31, 2016 (b) 87,962 - 87,962 (25,953) (52,888) 9,121 In cluded in Derivative assets on the Consolidated Condensed Statements of Condition. As of March 31 , 2017 and December 31, 2016, $ 17 . 3 million and $ 33.7 million, respectively, of derivative assets (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. Amounts are comprised entirely of interest rate derivative contracts. The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of March 31, 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Gross amounts offset in the liabilities presented Derivative of recognized Statements of in the Statements assets available Collateral (Dollars in thousands) liabilities Condition of Condition (a) for offset pledged Net amount Derivative liabilities: March 31, 2017 (b) $ 76,986 $ - $ 76,986 $ (18,674) $ (55,378) $ 2,934 December 31, 2016 (b) 96,363 - 96,363 (25,953) (60,746) 9,664 In cluded in Derivative l iabilities on the Consolidated Condensed Statements of Condition. As of March 31 , 2017 and December 31, 2016, $ 24 . 4 million and $ 39.5 million, respectively, of derivative liabilities (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. Amounts are comprised entirely of interest rate derivative contracts. |
Master Netting And Similar Agre
Master Netting And Similar Agreements | 3 Months Ended |
Mar. 31, 2017 | |
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 Transactions For repurchase, reverse repurchase and securities borrowing transactions, FHN and each counterparty ha ve 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 through FHN’s fixed income business ( Securities purchased under agreements to resell and S ecurities sold under agreements to repurchas e), 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 sold under agreements to repurchas e), securities are typically pledged at settlement and not released until maturity. For asset positions, the collateral is no t included on FHN’s Consolidated Condensed Statements of Condition . For liability posi tions, 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 a ll 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 a ny excess collateral is not reflected in the tables below. The following table provides details 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 , 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Offsetting Securities collateral Gross amounts offset in the assets presented securities sold (not recognized on of recognized Statements of in the Statements under agreements FHN's Statements (Dollars in thousands) assets Condition of Condition to repurchase of Condition) Net amount Securities purchased under agreements to resell: March 31, 2017 $ 835,222 $ - $ 835,222 $ (150) $ (828,596) $ 6,476 December 31, 2016 613,682 - 613,682 (1,628) (603,813) 8,241 The following table provides details 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 , 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Offsetting Gross amounts offset in the liabilities presented securities of recognized Statements of in the Statements purchased under Securities (Dollars in thousands) liabilities Condition of Condition agreements to resell Collateral Net amount Securities sold under agreements to repurchase: March 31, 2017 $ 406,354 $ - $ 406,354 $ (150) $ (406,185) $ 19 December 31, 2016 453,053 - 453,053 (1,628) (451,414) 11 Due to the short duration of Securities sold under agreements to repurchase and the nature of collateral involved, the risks associated with these transactions are considered minimal. The following tables provide details, by collateral type, of the remaining contractual maturity of Securities sold under agreements to repurchase as of March 31, 2017 and December 31, 2016: March 31, 2017 Overnight and (Dollars in thousands) Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 19,344 $ - $ 19,344 Government agency issued MBS 345,156 - 345,156 Government agency issued CMO 29,383 12,471 41,854 Total Securities sold under agreements to repurchase $ 393,883 $ 12,471 $ 406,354 December 31, 2016 Overnight and (Dollars in thousands) Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 14,864 $ - $ 14,864 Government agency issued MBS 421,771 - 421,771 Government agency issued CMO - 16,418 16,418 Total Securities sold under agreements to repurchase $ 436,635 $ 16,418 $ 453,053 |
Fair Value Of Assets And Liabil
Fair Value Of Assets And Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017: March 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities - fixed income: U.S. treasuries $ - $ 107,264 $ - $ 107,264 Government agency issued MBS - 323,058 - 323,058 Government agency issued CMO - 213,949 - 213,949 Other U.S. government agencies - 88,613 - 88,613 States and municipalities - 83,872 - 83,872 Corporate and other debt - 346,743 5 346,748 Equity, mutual funds, and other - 1,476 - 1,476 Total trading securities - fixed income - 1,164,975 5 1,164,980 Trading securities - mortgage banking - - 2,330 2,330 Loans held-for-sale - 1,224 21,221 22,445 Securities available-for-sale: U.S. treasuries - 100 - 100 Government agency issued MBS - 2,159,922 - 2,159,922 Government agency issued CMO - 1,592,311 - 1,592,311 Equity, mutual funds, and other 25,221 - - 25,221 Total securities available-for-sale 25,221 3,752,333 - 3,777,554 Other assets: Deferred compensation assets 34,109 - - 34,109 Derivatives, forwards and futures 17,227 - - 17,227 Derivatives, interest rate contracts - 80,893 - 80,893 Total other assets 51,336 80,893 - 132,229 Total assets $ 76,557 $ 4,999,425 $ 23,556 $ 5,099,538 Trading liabilities - fixed income: U.S. treasuries $ - $ 657,059 $ - $ 657,059 States and municipalities - 11,048 - 11,048 Corporate and other debt - 180,083 - 180,083 Total trading liabilities - fixed income - 848,190 - 848,190 Other liabilities: Derivatives, forwards and futures 18,365 - - 18,365 Derivatives, interest rate contracts - 76,986 - 76,986 Derivatives, other - 46 5,950 5,996 Total other liabilities 18,365 77,032 5,950 101,347 Total liabilities $ 18,365 $ 925,222 $ 5,950 $ 949,537 The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2016: December 31, 2016 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities - fixed income: U.S. treasuries $ - $ 146,988 $ - $ 146,988 Government agency issued MBS - 256,611 - 256,611 Government agency issued CMO - 150,058 - 150,058 Other U.S. government agencies - 52,314 - 52,314 States and municipalities - 60,351 - 60,351 Corporate and other debt - 227,934 5 227,939 Equity, mutual funds, and other - 242 - 242 Total trading securities - fixed income - 894,498 5 894,503 Trading securities - mortgage banking - - 2,568 2,568 Loans held-for-sale - 2,345 21,924 24,269 Securities available-for-sale: U.S. treasuries - 100 - 100 Government agency issued MBS - 2,208,687 - 2,208,687 Government agency issued CMO - 1,547,958 - 1,547,958 Equity, mutual funds, and other 25,249 - - 25,249 Total securities available-for-sale 25,249 3,756,745 - 3,781,994 Other assets: Mortgage servicing rights - - 985 985 Deferred compensation assets 32,840 - - 32,840 Derivatives, forwards and futures 33,587 - - 33,587 Derivatives, interest rate contracts - 88,025 - 88,025 Derivatives, other - 42 - 42 Total other assets 66,427 88,067 985 155,479 Total assets $ 91,676 $ 4,741,655 $ 25,482 $ 4,858,813 Trading liabilities - fixed income: U.S. treasuries $ - $ 381,229 $ - $ 381,229 Other U.S. government agencies - 844 - 844 Corporate and other debt - 179,775 - 179,775 Total trading liabilities - fixed income - 561,848 - 561,848 Other liabilities: Derivatives, forwards and futures 33,274 - - 33,274 Derivatives, interest rate contracts - 96,371 - 96,371 Derivatives, other - 7 6,245 6,252 Total other liabilities 33,274 96,378 6,245 135,897 Total liabilities $ 33,274 $ 658,226 $ 6,245 $ 697,745 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, 2017 and 2016, on a recurring basis are summarized as follows: Three Months Ended March 31, 2017 Trading Loans held- Net derivative (Dollars in thousands) securities for-sale liabilities Balance on January 1, 2017 $ 2,573 $ 21,924 $ (6,245) Total net gains/(losses) included in: Net income 17 922 (1) Purchases - 32 - Settlements (255) (1,574) 296 Net transfers into/(out of) Level 3 - (83) (b) - Balance on March 31, 2017 $ 2,335 $ 21,221 $ (5,950) Net unrealized gains/(losses) included in net income $ (27) (a) $ 922 (a) $ (1) (c) Three Months Ended March 31, 2016 Securities Mortgage Trading Loans held- available- servicing Net derivative (Dollars in thousands) securities for-sale for-sale rights, net liabilities Balance on January 1, 2016 $ 4,377 $ 27,418 $ 1,500 $ 1,841 $ (4,810) Total net gains/(losses) included in: Net income 147 342 - - (109) Purchases - 148 - - - Settlements (1,467) (1,365) - (116) 299 Net transfers into/(out of) Level 3 - (256) (b) - - - Balance on March 31, 2016 $ 3,057 $ 26,287 $ 1,500 $ 1,725 $ (4,620) Net unrealized gains/(losses) included in net income $ (115) (a) $ 342 (a) $ - $ - $ (109) (c) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. Transfers out of loans held-for-sale level 3 measured on a recurring basis generally r eflect movements into real estate acquired by foreclosure (level 3 nonrecurring). Included in Other expense. 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 lower of cost or market (“ 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 , 2017 , and December 31, 2016 , respectively, the following tables provide the level o f valuation assumptions used to determine each adjustment and the related carrying value. Carrying value at March 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale - SBAs $ - $ 3,476 $ - $ 3,476 Loans held-for-sale - first mortgages - - 606 606 Loans, net of unearned income (a) - - 30,838 30,838 Real estate acquired by foreclosure (b) - - 10,259 10,259 Other assets (c) - - 28,667 28,667 Carrying value at December 31, 2016 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale - SBAs $ - $ 4,286 $ - $ 4,286 Loans held-for-sale - first mortgages - - 638 638 Loans, net of unearned income (a) - - 31,070 31,070 Real estate acquired by foreclosure (b) - - 11,235 11,235 Other assets (c) - - 29,609 29,609 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. 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 . For assets measured on a nonrecurring basis which were still held on the consolidated balance sheet at period end, the following table provides information about the fair value adjustments recorded during the three months ended March 31, 2017 and 2016: Net gains/(losses) Three months ended March 31, (Dollars in thousands) 2017 2016 Loans held-for-sale - SBAs $ (33) $ - Loans held-for-sale - first mortgages 3 5 Loans, net of unearned income (a) 484 (4,672) Real estate acquired by foreclosure (b) (445) (536) Other assets (c) (942) (706) $ (933) $ (5,909) Write-downs on these loans are recognized as part of provision for loan losses. Represents 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 . In first quarter 2016, FHN’s Regional Banking segment recognized $ 3.7 million of impairments on long-lived assets associated with efforts t o more efficiently utilize its bank branch locations. The affected branch locations represented a mixture of owned and leased sites. The fair values of owned sites were determined using estimated sales prices from appraisals less estimated costs to sell. T he fair values of leased sites were determined using a discounted cash flow approach, based on the revised estimated useful lives of the related assets. Both measurement methodologies are considered Level 3 valuations. 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, 2017 and December 31, 2016: (Dollars in Thousands) Fair Value at Level 3 Class March 31, 2017 Valuation Techniques Unobservable Input Values Utilized Loans held-for-sale - residential real estate 21,827 Discounted cash flow Prepayment speeds - First mortgage 2% - 12% Prepayment speeds - HELOC 3% - 15% Foreclosure losses 50% - 70% Loss severity trends - First mortgage 5% - 50% of UPB Loss severity trends - HELOC 15% - 100% of UPB Derivative liabilities, other 5,950 Discounted cash flow Visa covered litigation resolution amount $4.4 billion - $5.2 billion Probability of resolution scenarios 10% - 30% Time until resolution 21 - 51 months Loans, net of unearned income (a) 30,838 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 (b) 10,259 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 28,667 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 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 for loan losses. 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 eq uity method . (Dollars in Thousands) Fair Value at Level 3 Class December 31, 2016 Valuation Techniques Unobservable Input Values Utilized Loans held-for-sale - residential real estate 22,562 Discounted cash flow Prepayment speeds - First mortgage 2% - 13% Prepayment speeds - HELOC 3% - 15% Foreclosure Losses 50% - 70% Loss severity trends - First mortgage 5% - 50% of UPB Loss severity trends - HELOC 15% - 100% of UPB Derivative liabilities, other 6,245 Discounted cash flow Visa covered litigation resolution amount $4.4 billion - $5.2 billion Probability of resolution scenarios 10% - 30% Time until resolution 24 - 54 months Loans, net of unearned income (a) 31,070 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 (b) 11,235 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 29,609 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 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 for loan losses. 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 accoun ted for under the equity method . Loans held-for-sale. Foreclosure losses and prepayment rates are significant unobservable inputs used in the fair value measurement of FHN’s residential real estate l oans 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 resul t in significantly lower (higher) fair value measurements. All observable and unobservabl e inputs are re-assessed quarterly. Fair value measurements are reviewed at least quarter ly by FHN’s Corporate Accounting Department. Derivative liabilities. In conj unction with the sales of portions 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. FHN uses a discounted cash flow methodology in order to estimate the fair value of FHN’s derivative liabilities associated with its prior sales of Visa Class B shares. The methodology includes 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 liabiliti es. 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 i n an increase (decrease) in the estimated fair value of the derivative liabilities. Since this estimation process requires application of judgment in developing significant unobservable inputs used to determine the possible outcomes and the probability wei ghting assigned to each scenario, these derivatives have been classified within Level 3 in fair value measurements disclosures. The valuation inputs and process are discussed with senior and executive management when significant events affecting the estima te 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 Rea l 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 ensu re that estimated values are consistent between firms. This process occurs within FHN’s Credit Risk Management (commercial) and Default Servicing functions (primarily consumer) . The Credit Risk Management Committee reviews dispositions and additions of foreclosed assets an nually. Back testing is performed during the year through comparison to ultimate disposition values. Other collateral (receivables, inventory, equipment, etc.) is valued through borrowing base certificates, financial statements and/or auction valuations. T hese valuations are discounted based on the quality of reporting, knowledge of the marketability/collectability of the collateral and historical disposition rates. Other a ssets – tax credit investments. The estimated fair value of tax credit investments ac counted 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 co nsideration of additional marketability discounts related to specific investments which typically includes consideration of the underlying property’s appraised value . Unusual valuation adjustments and the associated triggering events are discussed with sen ior 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 has 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 reduces certain timing differences and better matches changes in the value of such loans with changes in the value of derivatives and forward delivery commitments 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 subseque nt 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 repur chase, 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 declin es 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. March 31, 2017 (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 $ 22,444 $ 32,427 $ (9,983) Nonaccrual loans 6,689 12,305 (5,616) Loans 90 days or more past due and still accruing 120 158 (38) December 31, 2016 (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 $ 24,269 $ 35,262 $ (10,993) Nonaccrual loans 6,775 12,910 (6,135) Loans 90 days or more past due and still accruing 211 331 (120) 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 March 31 (Dollars in thousands) 2017 2016 Changes in fair value included in net income: Mortgage banking noninterest income Loans held-for-sale $ 922 $ 342 For the three months ended March 31 , 2017 , and 2016 , the amounts for residential real estate loans held-for-sale include gains of $ .2 million and $ .1 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 resi dential 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 . Determinat ion 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 desc ribes 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 ca rrying 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 rec ognized 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 v alued at the ask price. Inventory positions are valued using observable inputs including current market transactions, LIBOR and U.S. treasury curves, credit spreads, and consensus prepayment speeds. Trading loans are valued using observable inputs includin g current market transactions, swap rates, mortgage rates, and consensus prepayment speeds. Trading securities also include retained interests in prior securitizations that qualify as financial assets, which include primarily principal-only strips. FHN use s inputs including yield curves, credit spreads, and prepayment speeds to determine the fair value of principal-only strips. 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, and short-term investments in mutual funds. 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. 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 when available. Cost me thod investments are valued at historical cost less any recorded impairment due to the illiquid nature of these investments. 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 s preads. 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 cred it 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. Residential real estate loans held-for-sale are v alued using current transaction prices and/or values on similar assets when available, including committed bids for specific loans or loan portfolios. Uncommitted bids may be adjusted based on other available market information. For all other loans FHN det ermines the fair value of residential real estate loans held-for-sale using a discounted cash flow model which incorporates both observable and unobservable inputs. Inputs include current mortgage rates for similar products, estimated prepayment rates, for eclosure losses, and various loan performance measures (delinquency, LTV, credit score). 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 esti mated cancellation rates for loans expected to become delinquent. Loans held-for-sale also include 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 f low 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 value s 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 val ue 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 th e 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 ca lculated 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 rece nt 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 valu e. 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 a nd 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 th at 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-develop ed 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 fa ir value for these loans. 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) 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 r isk 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. For derivative contracts with daily cash margin requirements that are considered settlements, the daily margin amount is netted within derivative assets or liabilities. Any remaining credit risk related to in terest 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. The determination of fair value for FHN’s derivative liabilities associated with its prio r sales of Visa Class B shares are classified within Level 3 in |
Financial Information (Policy)
Financial Information (Policy) | 3 Months Ended |
Mar. 31, 2017 | |
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 2017 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 Exhibit 13 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2016 . |
Summary of Accounting Changes | Summary of Accounting Changes. Effective January 1, 2017, FHN adopted the provisions of Accounting Standards Update (“ASU”) 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which makes several revisions to equity compensation accounting. Under the new guidance all excess tax benefits and deficiencies that occur when an award vests, is exercised, or expires are recognized in income tax expense as discrete period items. Previously, these transactions were typically recorded direc tly within equity. Consistent with this change, excess tax benefits and deficiencies are no longer included within estimated proceeds when performing the treasury stock method for calculation of diluted earnings per share. Excess tax benefits are also reco gnized at the time an award is exercised or vests compared to the previous requirement to delay recognition until the deduction reduces taxes payable. The presentation of excess tax benefits in the statement of cash flows shifted to an operating activity f rom the prior classification as a financing activity. ASU 2016-09 also provides an accounting policy election to recognize forfeitures of awards as they occur when estimating stock-based compensation expense rather than the previous requirement to estimat e forfeitures from inception. Further, ASU 2016-09 permits employers to use a net-settlement feature to withhold taxes on equity compensation awards up to the maximum statutory tax rate without affecting the equity classification of the award. Under previo us guidance, withholding of equity awards in excess of the minimum statutory requirement resulted in liability classification for the entire award. The related cash remittance by the employer for employee taxes is treated as a financing activity in the sta tement of cash flows. Transition to the new guidance was accomplished through a combination of retrospective (cash flows), cumulative-effect adjustment to equity (forfeitures) and prospective methodologies (tax windfalls and shortfalls). FHN estimates, bas ed on currently enacted tax rates, that adoption of ASU 2016-09 in 2017 will result in an incremental effect on tax provision ranging from $ 3 .0 million of tax benefit to $ 1 .0 million of additional tax provision. The actual effects of adoption in 2017 will primarily depend upon the share price of the FHN’s common stock, which affects the vesting of certain performance awards, probability of exercise of certain stock options and the magnitude of windfalls for all awards upon either vesting or exercise. The ef fects on earnings per share calculations and election to account for forfeitures as incurred have not been significant. Effective January 1, 2017, FHN early adopted the provisions of ASU 2016-16, “Intra-Entity Transfers of Assets Other Than Inventory” whi ch requires recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Therefore, ASU 2016-16 reverses the previous requirement to delay recognition of the tax consequences of these tra nsactions until the associated assets are sold to an outside party. Adoption of ASU 2016-16 did not have a significant effect on FHN. |
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 assets. 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 an d 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 w ith customers. In February 2016, the FASB issued ASU 2016-08, “Principal versus Agent Considerations,” which provides additional guidance on whether an entity should recognize revenue on a gross or net basis, based on which party controls the specified goo d or service before that good or service is transferred to a customer. In April 2016, the FASB issued ASU 2016-10, “Identifying Performance Obligations and Licensing,” which clarifies the original guidance included in ASU 2014-09 for identification of the goods or services provided to customers and enhances the implementation guidance for licensing arrangements. ASU 2016-12, “Narrow-Scope Improvements and Practical Expedients,” was issued in May 2016 to provide additional guidance for the implementation and application of ASU 2014-09. “Technical Corrections and Improvements” ASU 2016-20 was issued in December 2016 and provides further guidance on certain issues. These ASUs are effective in annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted for annual reporting periods beginning after December 15, 2016, and associated interim periods. Transition to the new requirements may be made by retroactively revising prior fin ancial 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 will not early adopt these ASUs and is evaluat ing their effects on its revenue recognition practices. Currently, FHN anticipates that it will elect to adopt the provisions of the revenue recognition standards through a cumulative effect to retained earnings with comparability disclosures provided thro ughout 2018. In February 2017, the FASB issued ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets” which clarifies the meaning and application of the term in substance nonfinancial a sset in transactions involving both financial and nonfinancial assets. If substantially all of the fair value of the assets that are promised to t he counterparty in a contract are concentrated in nonfinancial assets, then all of the financial assets promis ed to the counterparty are in substance nonfinancial assets within the scope of revenue recognition guidance for nonfinancial assets. ASU 2017-05 also clarifies that an entity should identify each distinct nonfinancial asset or in substance nonfinancial as set promised to a counterparty and derecognize each asset when a counterparty obtains control of it with the amount of revenue recognized based on the allocation guidance provided in ASU 2014-09 . ASU 2017-05 also requires an entity to derecognize a distinc t nonfinancial asset or distinct in substance nonfinancial asset in a partial sale transaction when it 1) does not have (or ceases to have) a controlling financial interest in the legal entity that holds the asset in accordance with Topic 810 and 2) transf ers control of the asset in accordance with the provisions of ASU 2014-09. Once an entity transfers control of a distinct nonfinancial asset or distinct in substance nonfinancial asset, it is required to measure any noncontrolling interest it receives (or retains) at fair value. ASU 2017-05 has the same effective date and transition provisions as ASU 2014-09 and the two standards must be adopted simultaneously although the transition methods may be different. FHN is evaluating the effects of ASU 2017-05 on its revenue recognition practices. Currently, FHN anticipates that it will elect to adopt the provisions of ASU 2017-05 through a cumulative effect to retained earnings with comparability disclosures provided throughout 2018. In January 2016, the FASB iss ued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 makes several revisions to the accounting, presentation and disclosure for financial instruments. Equity investments (except those accounted for under the equity method, those that result in consolidation of the investee, and those held by entities subject to specialized industry accounting which already apply fair value through earnings) are required to be measured at fair value with changes in fair va lue recognized in net income. This excludes FRB and FHLB stock holdings which are specifically exempted from the provisions of ASU 2016-01. An entity may elect to measure equity investments that do not have readily determinable market values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar instruments from the same issuer. ASU 2016-01 also requires a qualitative impairment review for equity investments withou t readily determinable fair values, with measurement at fair value required if impairment is determined to exist. For liabilities for which fair value has been elected, ASU 2016-01 revises current accounting to record the portion of fair value changes resu lting from instrument-specific credit risk within other comprehensive income rather than earnings. FHN has not elected fair value accounting for any existing financial liabilities. Additionally, ASU 2016-01 clarifies that the need for a valuation allowance on a deferred tax asset related to available-for-sale securities should be assessed in combination with all other deferred tax assets rather than being assessed in isolation. ASU 2016-01 also makes several changes to existing fair value presentation and d isclosure requirements, including a provision that all disclosures must use an exit price concept in the determination of fair value. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Transition will be through a cumulative effect adjustment to retained earnings for equity investments with readily determinable fair values. Equity investments without readily determinable fair values, for which the accounting election is made, wil l have any initial fair value marks recorded through earnings prospectively after adoption. Upon adoption, FHN will reclassify all equity investments out of available-for-sale securities, leaving only debt securities within this classification. FHN has ev aluated the nature of its current equity investments and determined that substantially all qualify for the election available to assets without readily determinable fair values, including its holdings of Visa Class B shares. Accordingly, FHN intends to app ly this election and any fair value marks for these investments will be recognized through earnings on a prospective basis subsequent to adoption. FHN continues to evaluate the appropriate characteristics of “similar” instruments as well as related valuati on inputs and methodologies for its equity investments without readily determinable fair values. The requirements of ASU 2016-01 related to assessment of deferred tax assets and disclosure of the fair value of financial instruments will not have a signific ant effect on FHN because its current accounting and disclosure practices conform to the requirements of ASU 2016-01. FHN also continues to evaluate the impact of ASU 2016-01 on other aspects o f its current accounting and disclosure practices. In February 2016, the FASB issued ASU 2016-02, “Leases,” which requires a lessee to recognize in its statement of condition a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the le ase term. ASU 2016-02 leaves lessor accounting largely unchanged from prior standards. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and l ease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. All other leases must be classified as financing or operating leases which depends on the relations hip of the lessee’s rights to the economic value of the leased asset. For finance leases, interest on the lease liability is recognized separately from amortization of the right-of-use asset in earnings, resulting in higher expense in the earlier portion o f the lease term. For operating leases, a single lease cost is calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. In transition to ASU 2016-02, lessees and lessors are required to recognize and m easure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply, which would result in continui ng to account for leases that commence before the effective date in accordance with previous requirements (unless the lease is modified) except that lessees are required to recognize a right-of-use asset and a lease liability for all operating leases at ea ch reporting date based on the present value of the remaining minimum rental payments that were tracked and disclosed under previous requirements. ASU 2016-02 also requires expanded qualitative and quantitative disclosures to assess the amount, timing, and uncertainty of cash flows arising from lease arrangements. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. FHN is evaluating the impact of ASU 2016-02 on its current account ing and disclosure practices. In March 2016, the FASB issued ASU 2016-04, “Recognition of Breakage of Certain Prepaid Stored-Value Products,” which indicates that liabilities related to the sale of prepaid stored-value products are considered financial li abilities and should have a breakage estimate applied for estimated unused funds. ASU 2016-04 does not apply to stored-value products that can only be redeemed for cash, are subject to escheatment or are linked to a segregated bank account. ASU 2016-04 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. FHN is evaluating the impact of ASU 2016-04 on its current accounting and disclosure practices. In June 2016, the FASB issued ASU 2016-13, “Measur ement of Credit Losses on Financial Instruments,” which revises the measurement and recognition of credit losses for assets measured at amortized cost (e.g., held-to-maturity (“HTM”) loans and debt securities) and available-for-sale (“AFS”) debt securities . Under ASU 2016-13, for assets measured at amortized cost, the current expected credit loss (“CECL”) is measured as the difference between amortized cost and the net amount expected to be collected. This represents a departure from existing GAAP as the “i ncurred loss” methodology for recognizing credit losses delays recognition until it is probable a loss has been incurred. The measurement of current expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Additionally, current disclosures of credit quality indicators in relation to the amortized cost of financing receivables will be further d isaggregated by year of origination. ASU 2016-13 leaves the methodology for measuring credit losses on AFS debt securities largely unchanged, with the maximum credit loss representing the difference between amortized cost and fair value. However, such cred it losses will be recognized through an allowance for credit losses, which permits recovery of previously recognized credit losses if circumstances change. ASU 2016-13 also revises the recognition of credit losses for purchased financial assets with a m ore-than insignificant amount of credit deterioration since origination (“PCD assets”). For PCD assets, the initial allowance for credit losses is added to the purchase price. Only subsequent changes in the allowance for credit losses are recorded as a cre dit loss expense for PCD assets. Interest income for PCD assets will be recognized based on the effective interest rate, excluding the discount embedded in the purchase price that is attributable to the acquirer’s assessment of credit losses at acquisition . Currently, credit losses for purchased credit-impaired assets are included in the initial basis of the assets with subsequent declines in credit resulting in expense while subsequent improvements in credit are reflected as an increase in the future yield from the assets. The provisions of ASU 2016-13 will be generally adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in the year of adoption. Prospective implementation is required for de bt securities for which an other-than-temporary-impairment (“OTTI”) had been previously recognized. Amounts previously recognized in accumulated other comprehensive income (“AOCI”) as of the date of adoption that relate to improvements in cash flows expect ed to be collected will continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption will be recorded in earnings when received. A p rospective transition approach will be used for existing PCD assets where, upon adoption, the amortized cost basis will be adjusted to reflect the addition of the allowance for credit losses. Thus, an entity will not be required to reassess its purchased f inancial assets that exist as of the date of adoption to determine whether they would have met at acquisition the new criteria of more-than-insignificant credit deterioration since origination. An entity will accrete the remaining noncredit discount (based on the revised amortized cost basis) into interest income at the effective interest rate at the adoption date. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoptio n is permitted in fiscal years beginning after December 15, 2018. FHN is still evaluating the impact of ASU 2016-13 on its current accounting and disclosure practices. In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts an d Cash Payments,” which clarifies multiple cash flow presentation issues including providing guidance as to classification on the cash flow statement for certain cash receipts and cash payments where diversity in practice exists. ASU 2016-15 is effective f or fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The provisions of ASU 2016-15 will be applied retroactively and will result in proceeds from bank-owned life insurance (“BOLI”) being classified as an investing activity rather than their prior classification as an operating activity. In March 2017, the FASB issued ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” which requires the disaggregation of the service cost component from the other components of net benefit cost for pension and postretirement plans. Service cost must be included in the same income statement line item as other compensation-related expenses . All other components of net benefit cost are required to be presented in the income statement separately from the service cost component, with disclosure of the line items where these amounts are recorded. The presentation requirements of ASU 2017-07 must be applied retrospectively and adoption is required f or annual periods beginning after December 15, 2017, including interim periods within th ose annual periods. FHN’s disclosures for pension and postretirement costs provide details of the service cost and all other components for expenses recognized f or its applicable benefit plans. These amounts are currently included in Employee compensation, incentives, and benefits expense in the Consolidated Condensed Statements of Income. Upon adoption of ASU 2017-07 FHN will reclassify the expense components other than service cost into All other expense and revise its disclosures accordingly. The amounts to be reclassified are presented in Note 11 - Pension, Savings, and Ot her Employee Benefits in this Q uarterly Report on Form 10-Q for the quarter ended March 31, 2017 and in Note 18 - Pension, Savings, and Other Employee Benefits in Exhibit 13 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2016. In March 2017, the FASB issued ASU 2017-08, “Premium Amortization on Purchased Callable Debt Securities” which shortens the amortization period for securities that have explicit, noncontingent call features that are callable at fixed prices and on preset dates. In contrast to the current requirement for premium amortization to exten d to the contractual maturity date, ASU 2017-08 requires the premium to be amortized to the earliest call date. ASU 2017-08 does not change the amortization of discounts, which will continue to be amortized to maturity. The new guidance does not apply to debt securities where the prepayment date is not preset or the price is not known in advance, which includes debt securities that qualify for amortization based on estimated prepayment rates. ASU 2017-08 is effective for fiscal years, and interim periods w ithin those fiscal years, beginning after December 15, 2018 with early adoption permitted. Transition is accomplished through a cumulative-effect adjustment directly to retained earnings as of the beginning of the year of adoption. Based upon the current composition of its debt securities portfolios, FHN does not anticipate a s ignificant effect upon adoption . |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investment Securities [Abstract] | |
Schedule Of FHN's Investment Securities | The following tables summarize FHN’s investment securities on March 31, 2017 and December 31, 2016: March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Securities available-for-sale: U.S. treasuries $ 100 $ - $ - $ 100 Government agency issued mortgage-backed securities ("MBS") 2,171,843 13,675 (25,596) 2,159,922 Government agency issued collateralized mortgage obligations ("CMO") 1,610,857 4,980 (23,526) 1,592,311 Equity and other (a) 186,948 - (3) 186,945 Total securities available-for-sale (b) $ 3,969,748 $ 18,655 $ (49,125) $ 3,939,278 Securities held-to-maturity: States and municipalities $ 4,354 $ 386 $ - $ 4,740 Corporate bonds 10,000 63 - 10,063 Total securities held-to-maturity $ 14,354 $ 449 $ - $ 14,803 Includes restricted investments in FHLB-Cincinnati stock of $ 87 . 9 million and FRB stock of $ 68.6 million . The remainder is money market, mutual funds, and cost method investments. Includes $ 3 . 5 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Securities available-for-sale: U.S. treasuries $ 100 $ - $ - $ 100 Government agency issued MBS 2,217,593 14,960 (23,866) 2,208,687 Government agency issued CMO 1,566,986 4,909 (23,937) 1,547,958 Equity and other (a) 186,756 - (2) 186,754 Total securities available-for-sale (b) $ 3,971,435 $ 19,869 $ (47,805) $ 3,943,499 Securities held-to-maturity: States and municipalities $ 4,347 $ 393 $ - $ 4,740 Corporate bonds 10,000 33 - 10,033 Total securities held-to-maturity $ 14,347 $ 426 $ - $ 14,773 Includes restricted investments in FHLB-Cincinnati stock of $ 87.9 million and FRB stock of $ 68.6 million. The remainder is money market , mutual funds, and cost method investments. Includes $ 3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repu rchase, 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, 2017 are provided below: Held-to-Maturity Available-for-Sale Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Within 1 year $ - $ - $ 100 $ 100 After 1 year; within 5 years - - - - After 5 years; within 10 years 10,000 10,063 - - After 10 years 4,354 4,740 - - Subtotal 14,354 14,803 100 100 Government agency issued MBS and CMO (a) - - 3,782,700 3,752,233 Equity and other - - 186,948 186,945 Total $ 14,354 $ 14,803 $ 3,969,748 $ 3,939,278 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) 2017 2016 Gross gains on sales of securities $ 44 $ 3,837 Gross (losses) on sales of securities - (2,263) Net gain/(loss) on sales of securities (a) $ 44 $ 1,574 Cash proceeds for the three months ended March 31, 2017 were not material. Cash proceeds for the three months ended March 31, 2016 were $1.0 million. 2016 includes a $1.7 million gain from an exchange of approximately $294 million of AFS debt 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, 2017 and December 31, 2016: As of March 31, 2017 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 $ 1,068,010 $ (18,525) $ 111,813 $ (5,001) $ 1,179,823 $ (23,526) Government agency issued MBS 1,846,348 (25,596) - - 1,846,348 (25,596) Total debt securities 2,914,358 (44,121) 111,813 (5,001) 3,026,171 (49,122) Equity 6 (3) - - 6 (3) Total temporarily impaired securities $ 2,914,364 $ (44,124) $ 111,813 $ (5,001) $ 3,026,177 $ (49,125) As of December 31, 2016 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 $ 1,059,471 $ (19,052) $ 116,527 $ (4,885) $ 1,175,998 $ (23,937) Government agency issued MBS 1,912,126 (23,866) - - 1,912,126 (23,866) Total debt securities 2,971,597 (42,918) 116,527 (4,885) 3,088,124 (47,803) Equity 7 (2) - - 7 (2) Total temporarily impaired securities $ 2,971,604 $ (42,920) $ 116,527 $ (4,885) $ 3,088,131 $ (47,805) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Loans [Abstract] | |
Schedule Of Loans By Portfolio Segment | The following table provides the balance of loans by portfolio segment as of March 31, 2017 and December 31, 2016: March 31 December 31 (Dollars in thousands) 2017 2016 Commercial: Commercial, financial, and industrial $ 11,703,996 $ 12,148,087 Commercial real estate 2,173,311 2,135,523 Consumer: Consumer real estate (a) 4,456,811 4,523,752 Permanent mortgage 409,235 423,125 Credit card & other 346,721 359,033 Loans, net of unearned income $ 19,090,074 $ 19,589,520 Allowance for loan losses 201,968 202,068 Total net loans $ 18,888,106 $ 19,387,452 Balances as of March 3 1 , 201 7 and December 31, 201 6 , include $ 32 . 5 million and $ 35 . 9 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, 2017 and 2016: Three Months Ended March 31 (Dollars in thousands) 2017 2016 Balance, beginning of period $ 6,871 $ 8,542 Accretion (851) (1,151) Adjustment for payoffs (273) (1,777) Adjustment for charge-offs - (663) Adjustment for pool excess recovery (a) (222) - Increase/(decrease) in accretable yield (b) (295) 4,007 Other (32) - Balance, end of period $ 5,198 $ 8,958 Represents the removal of accretable difference for the remaining loans in a pool which is now in a recovery state. 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] | The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 (Dollars in thousands) Carrying value Unpaid balance Carrying value Unpaid balance Commercial, financial and industrial $ 38,088 $ 39,257 $ 40,368 $ 41,608 Commercial real estate 4,096 5,466 4,763 6,514 Consumer real estate 1,072 1,442 1,172 1,677 Credit card and other 53 64 52 64 Total $ 43,309 $ 46,229 $ 46,355 $ 49,863 |
Information By Class Related To Individually Impaired Loans | The following tables provide information at March 31, 2017 and December 31, 2016, by class related to individually impaired loans and consumer TDRs, regardless of accrual status. 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 the TRUPs valuation allowance have been excluded. Three Months Ended March 31 March 31, 2017 2017 2016 Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income (Dollars in thousands) Investment Balance Allowance Investment Recognized Investment Recognized Impaired loans with no related allowance recorded: Commercial: General C&I $ 10,395 $ 16,612 $ - $ 10,407 $ - $ 9,224 $ - Income CRE - - - - - 2,468 - Total $ 10,395 $ 16,612 $ - $ 10,407 $ - $ 11,692 $ - Consumer: HELOC (a) $ 10,724 $ 22,020 $ - $ 11,054 $ - $ 10,921 $ - R/E installment loans (a) 3,916 4,987 - 3,937 - 4,434 - Permanent mortgage (a) 5,803 8,607 - 5,557 - 4,436 - Total $ 20,443 $ 35,614 $ - $ 20,548 $ - $ 19,791 $ - Impaired loans with related allowance recorded: Commercial: General C&I $ 31,392 $ 31,532 $ 2,850 $ 32,863 $ 215 $ 24,921 $ 87 TRUPS 3,183 3,700 925 3,196 - 3,323 - Income CRE 1,803 2,181 61 1,817 14 5,138 20 Residential CRE 1,293 1,761 131 1,293 5 1,397 6 Total $ 37,671 $ 39,174 $ 3,967 $ 39,169 $ 234 $ 34,779 $ 113 Consumer: HELOC $ 81,438 $ 83,888 $ 16,641 $ 83,075 $ 564 $ 88,580 $ 487 R/E installment loans 50,394 51,317 12,060 51,902 318 59,971 317 Permanent mortgage 82,940 94,755 11,532 85,778 615 95,232 547 Credit card & other 269 269 122 288 2 360 3 Total $ 215,041 $ 230,229 $ 40,355 $ 221,043 $ 1,499 $ 244,143 $ 1,354 Total commercial $ 48,066 $ 55,786 $ 3,967 $ 49,576 $ 234 $ 46,471 $ 113 Total consumer $ 235,484 $ 265,843 $ 40,355 $ 241,591 $ 1,499 $ 263,934 $ 1,354 Total impaired loans $ 283,550 $ 321,629 $ 44,322 $ 291,167 $ 1,733 $ 310,405 $ 1,467 All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. December 31, 2016 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 $ 10,419 $ 16,636 $ - $ 12,009 $ - Income CRE - - - 1,543 - Total $ 10,419 $ 16,636 $ - $ 13,552 $ - Consumer: HELOC (a) $ 11,383 $ 21,662 $ - $ 11,168 $ - R/E installment loans (a) 3,957 4,992 - 4,255 - Permanent mortgage (a) 5,311 7,899 - 4,418 - Total $ 20,651 $ 34,553 $ - $ 19,841 $ - Impaired loans with related allowance recorded: Commercial: General C&I $ 34,334 $ 34,470 $ 3,294 $ 30,836 $ 902 TRUPS 3,209 3,700 925 3,274 - Income CRE 1,831 2,209 62 3,757 70 Residential CRE 1,293 1,761 132 1,360 22 Total $ 40,667 $ 42,140 $ 4,413 $ 39,227 $ 994 Consumer: HELOC $ 84,711 $ 87,126 $ 15,927 $ 87,659 $ 2,092 R/E installment loans 53,409 54,559 12,875 57,906 1,370 Permanent mortgage 88,615 100,983 12,470 91,838 2,310 Credit card & other 306 306 133 345 13 Total $ 227,041 $ 242,974 $ 41,405 $ 237,748 $ 5,785 Total commercial $ 51,086 $ 58,776 $ 4,413 $ 52,779 $ 994 Total consumer $ 247,692 $ 277,527 $ 41,405 $ 257,589 $ 5,785 Total impaired loans $ 298,778 $ 336,303 $ 45,818 $ 310,368 $ 6,779 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, 2017 and December 31, 2016: March 31, 2017 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 $ 478,025 $ - $ - $ 610 $ - $ 478,635 3 % $ 78 2 891,450 - - 11,293 81 902,824 7 442 3 403,403 398,860 - 160,115 - 962,378 7 239 4 998,015 227,257 - 242,069 221 1,467,562 11 879 5 1,269,384 139,434 - 426,147 333 1,835,298 13 7,260 6 1,535,573 521,253 - 368,073 8,072 2,432,971 17 10,600 7 1,479,242 169,444 - 396,654 2,161 2,047,501 15 12,767 8 1,042,772 49,588 - 352,370 4,383 1,449,113 10 24,532 9 641,463 4,643 - 82,734 3,357 732,197 5 14,396 10 344,633 4,499 - 35,489 9,695 394,316 3 8,510 11 228,258 - - 17,501 5,454 251,213 2 6,289 12 162,238 13,956 - 15,831 2,965 194,990 1 6,862 13 115,844 - 304,236 4,755 128 424,963 3 3,757 14,15,16 197,230 48 - 14,395 1,183 212,856 2 23,177 Collectively evaluated for impairment 9,787,530 1,528,982 304,236 2,128,036 38,033 13,786,817 99 119,788 Individually evaluated for impairment 41,787 - 3,183 1,803 1,293 48,066 1 3,967 Purchased credit-impaired loans 38,278 - - 4,052 94 42,424 - 240 Total commercial loans $ 9,867,595 $ 1,528,982 $ 307,419 $ 2,133,891 $ 39,420 $ 13,877,307 100 % $ 123,995 December 31, 2016 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 $ 465,179 $ - $ - $ 1,078 $ - $ 466,257 3 % $ 77 2 791,183 - - 11,742 87 803,012 6 403 3 491,386 462,486 - 153,670 - 1,107,542 8 304 4 978,282 332,107 - 222,422 - 1,532,811 11 953 5 1,232,401 275,209 - 365,653 702 1,873,965 13 6,670 6 1,540,519 614,109 - 338,344 9,338 2,502,310 17 10,403 7 1,556,117 317,283 - 352,390 2,579 2,228,369 16 14,010 8 963,359 30,974 - 425,503 2,950 1,422,786 10 25,986 9 611,774 4,299 - 105,277 4,417 725,767 5 13,857 10 355,359 8,663 - 50,484 9,110 423,616 3 8,400 11 238,230 - - 20,600 6,541 265,371 2 6,556 12 170,531 - - 15,395 4,168 190,094 1 6,377 13 121,276 - 304,236 6,748 311 432,571 3 4,225 14,15,16 194,572 59 - 16,313 1,659 212,603 1 20,297 Collectively evaluated for impairment 9,710,168 2,045,189 304,236 2,085,619 41,862 14,187,074 99 118,518 Individually evaluated for impairment 44,753 - 3,209 1,831 1,293 51,086 1 4,413 Purchased credit-impaired loans 40,532 - - 4,583 335 45,450 - 319 Total commercial loans $ 9,795,453 $ 2,045,189 $ 307,445 $ 2,092,033 $ 43,490 $ 14,283,610 100 % $ 123,250 Balances as of March 31 , 2017 and December 31, 2016 , presented net of a $ 25.5 million valuation allowance . Based on the underlying structure of the notes , the highest possible internal grade is " 13 ". |
Loans by FICO Score, Consumer | The following table reflects the percentage of balances outstanding by average, refreshed FICO scores for the HELOC, real estate installment, and permanent mortgage classes of loans as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 HELOC R/E Installment Loans Permanent Mortgage HELOC R/E Installment Loans Permanent Mortgage FICO score 740 or greater 57.6 % 70.1 % 45.5 % 56.9 % 70.3 % 45.0 % FICO score 720-739 8.8 8.0 8.7 8.8 8.3 9.5 FICO score 700-719 8.2 7.2 9.5 8.6 6.8 9.2 FICO score 660-699 12.6 9.0 16.8 13.2 8.4 17.1 FICO score 620-659 5.7 3.0 8.9 5.6 3.5 9.1 FICO score less than 620 (a) 7.1 2.7 10.6 6.9 2.7 10.1 Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % For this group, a majority of the loan balances had FICO scores at the time of the origination that exceeded 620 but have since deteriorated as the loans have seasoned . |
Accruing And Non-Accruing Loans By Class | The following table reflects accruing and non-accruing loans by class on March 31, 2017: 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 $ 9,781,688 $ 20,073 $ 101 $ 9,801,862 $ 14,511 $ 113 $ 12,831 $ 27,455 $ 9,829,317 Loans to mortgage companies 1,528,934 - - 1,528,934 - - 48 48 1,528,982 TRUPS (a) 304,236 - - 304,236 - - 3,183 3,183 307,419 Purchased credit-impaired loans 38,045 8 225 38,278 - - - - 38,278 Total commercial (C&I) 11,652,903 20,081 326 11,673,310 14,511 113 16,062 30,686 11,703,996 Commercial real estate: Income CRE 2,128,111 128 - 2,128,239 100 - 1,500 1,600 2,129,839 Residential CRE 38,531 - - 38,531 - - 795 795 39,326 Purchased credit-impaired loans 3,605 541 - 4,146 - - - - 4,146 Total commercial real estate 2,170,247 669 - 2,170,916 100 - 2,295 2,395 2,173,311 Consumer real estate: HELOC 1,521,042 16,612 10,247 1,547,901 46,661 4,187 8,345 59,193 1,607,094 R/E installment loans 2,814,663 7,056 4,427 2,826,146 17,477 1,993 2,679 22,149 2,848,295 Purchased credit-impaired loans 1,328 - 94 1,422 - - - - 1,422 Total consumer real estate 4,337,033 23,668 14,768 4,375,469 64,138 6,180 11,024 81,342 4,456,811 Permanent mortgage 369,882 4,802 5,718 380,402 14,166 1,006 13,661 28,833 409,235 Credit card & other: Credit card 182,129 1,393 1,449 184,971 - - - - 184,971 Other 160,929 482 150 161,561 - - 136 136 161,697 Purchased credit-impaired loans 53 - - 53 - - - - 53 Total credit card & other 343,111 1,875 1,599 346,585 - - 136 136 346,721 Total loans, net of unearned income $ 18,873,176 $ 51,095 $ 22,411 $ 18,946,682 $ 92,915 $ 7,299 $ 43,178 $ 143,392 $ 19,090,074 TRUPS is presented net of the valuation allowance of $25.5 million . The following table reflects accruing and non-accruing loans by class on December 31, 2016: 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 $ 9,720,231 $ 5,199 $ 23 $ 9,725,453 $ 16,106 $ 374 $ 12,988 $ 29,468 $ 9,754,921 Loans to mortgage companies 2,041,408 3,722 - 2,045,130 - - 59 59 2,045,189 TRUPS (a) 304,236 - - 304,236 - - 3,209 3,209 307,445 Purchased credit-impaired loans 40,113 185 234 40,532 - - - - 40,532 Total commercial (C&I) 12,105,988 9,106 257 12,115,351 16,106 374 16,256 32,736 12,148,087 Commercial real estate: Income CRE 2,085,455 14 - 2,085,469 232 460 1,289 1,981 2,087,450 Residential CRE 42,182 178 - 42,360 - - 795 795 43,155 Purchased credit-impaired loans 4,809 109 - 4,918 - - - - 4,918 Total commercial real estate 2,132,446 301 - 2,132,747 232 460 2,084 2,776 2,135,523 Consumer real estate: HELOC 1,602,640 17,997 10,859 1,631,496 46,964 4,201 8,922 60,087 1,691,583 R/E installment loans 2,794,866 7,844 5,158 2,807,868 17,989 2,383 2,353 22,725 2,830,593 Purchased credit-impaired loans 1,319 164 93 1,576 - - - - 1,576 Total consumer real estate 4,398,825 26,005 16,110 4,440,940 64,953 6,584 11,275 82,812 4,523,752 Permanent mortgage 385,972 4,544 5,428 395,944 11,867 2,194 13,120 27,181 423,125 Credit card & other: Credit card 188,573 1,622 1,456 191,651 - - - - 191,651 Other 166,062 992 134 167,188 - - 142 142 167,330 Purchased credit-impaired loans 52 - - 52 - - - - 52 Total credit card & other 354,687 2,614 1,590 358,891 - - 142 142 359,033 Total loans, net of unearned income $ 19,377,918 $ 42,570 $ 23,385 $ 19,443,873 $ 93,158 $ 9,612 $ 42,877 $ 145,647 $ 19,589,520 TRUPS is presented net of the valuation allowance of $25.5 million. |
Schedule Of Troubled Debt Restructurings Occurring During The Year | The following tables reflect portfolio loans that were classified as TDRs during the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 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 1 $ 27 $ 37 1 $ 708 $ 708 Total commercial (C&I) 1 27 37 1 708 708 Consumer real estate: HELOC 35 2,589 2,473 99 7,440 7,370 R/E installment loans 14 957 902 15 898 895 Total consumer real estate 49 3,546 3,375 114 8,338 8,265 Permanent mortgage 5 1,310 1,303 - - - Credit card & other 6 21 20 4 19 18 Total troubled debt restructurings 61 $ 4,904 $ 4,735 119 $ 9,065 $ 8,991 |
Schedule Of Troubled Debt Restructurings Within The Previous 12 Months | The following tables present TDRs which re-defaulted during the three months ended March 31, 2017 and 2016, and as to which the modification occurred 12 months or less prior to the re-default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due. March 31, 2017 March 31, 2016 Recorded Recorded (Dollars in thousands) Number Investment Number Investment Commercial (C&I): General C&I 1 $ 5,779 - $ - Total commercial (C&I) 1 5,779 - - Consumer real estate: HELOC 4 685 1 36 Total consumer real estate 4 685 1 36 Credit card & other 2 7 - - Total troubled debt restructurings 7 $ 6,471 1 $ 36 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Loans [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, 2017 and 2016: Commercial Consumer Permanent Credit Card (Dollars in thousands) C&I Real Estate Real Estate Mortgage and Other Total Balance as of January 1, 2017 $ 89,398 $ 33,852 $ 50,357 $ 16,289 $ 12,172 $ 202,068 Charge-offs (600) - (3,849) (483) (3,481) (8,413) Recoveries 1,676 221 5,676 903 837 9,313 Provision/(provision credit) for loan losses 2,633 (3,185) (2,504) (816) 2,872 (1,000) Balance as of March 31, 2017 93,107 30,888 49,680 15,893 12,400 201,968 Allowance - individually evaluated for impairment 3,775 192 28,701 11,532 122 44,322 Allowance - collectively evaluated for impairment 89,142 30,646 20,629 4,361 12,278 157,056 Allowance - purchased credit-impaired loans 190 50 350 - - 590 Loans, net of unearned as of March 31, 2017: Individually evaluated for impairment 44,970 3,096 146,472 88,743 269 283,550 Collectively evaluated for impairment 11,620,748 2,166,069 4,308,917 320,492 346,399 18,762,625 Purchased credit-impaired loans 38,278 4,146 1,422 - 53 43,899 Total loans, net of unearned income $ 11,703,996 $ 2,173,311 $ 4,456,811 $ 409,235 $ 346,721 $ 19,090,074 Balance as of January 1, 2016 $ 73,637 $ 25,159 $ 80,614 $ 18,947 $ 11,885 $ 210,242 Charge-offs (6,525) (642) (6,926) (112) (3,407) (17,612) Recoveries 780 222 5,735 779 888 8,404 Provision/(provision credit) for loan losses 12,995 887 (12,102) (860) 2,080 3,000 Balance as of March 31, 2016 80,887 25,626 67,321 18,754 11,446 204,034 Allowance - individually evaluated for impairment 9,148 488 31,119 16,975 146 57,876 Allowance - collectively evaluated for impairment 71,615 24,840 35,477 1,779 11,299 145,010 Allowance - purchased credit-impaired loans 124 298 725 - 1 1,148 Loans, net of unearned as of March 31, 2016: Individually evaluated for impairment 44,465 8,950 162,128 96,874 345 312,762 Collectively evaluated for impairment 10,181,677 1,826,677 4,523,885 345,917 353,822 17,231,978 Purchased credit-impaired loans 13,041 12,942 4,217 - 54 30,254 Total loans, net of unearned income $ 10,239,183 $ 1,848,569 $ 4,690,230 $ 442,791 $ 354,221 $ 17,574,994 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary Of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition | The following is a summary of other intangible assets included in the Consolidated Condensed Statements of Condition: March 31, 2017 December 31, 2016 (Dollars in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Gross Carrying Amount Accumulated Amortization Net Carrying Value Core deposit intangibles $ 16,850 $ (5,199) $ 11,651 $ 16,850 $ (4,721) $ 12,129 Customer lists 54,865 (47,053) 7,812 54,865 (46,302) 8,563 Other (a) 322 - 322 555 (230) 325 Total $ 72,037 $ (52,252) $ 19,785 $ 72,270 $ (51,253) $ 21,017 Balance at March 31, 2017 relates to state banking licenses and are not subject to amortization . |
Schedule of Estimated Aggregate Amortization Expense for Intangible Assets | (Dollars in thousands) Year Amortization Remainder of 2017 $ 3,683 2018 4,679 2019 4,453 2020 1,659 2021 1,574 2022 1,450 |
Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments | The following is a summary of goodwill by reportable segment i ncluded in the Consolidated Condensed Statements of Condition as of March 31, 2017 and December 31, 2016. Regional Fixed (Dollars in thousands) Banking Income Total December 31, 2015 $ 93,303 $ 98,004 $ 191,307 Additions - - - March 31, 2016 $ 93,303 $ 98,004 $ 191,307 December 31, 2016 $ 93,367 $ 98,004 $ 191,371 Additions - - - March 31, 2017 $ 93,367 $ 98,004 $ 191,371 |
Other Income And Other Expense
Other Income And Other Expense (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31 (Dollars in thousands) 2017 2016 All other income and commissions: Other service charges $ 2,984 $ 2,713 ATM interchange fees 2,778 2,958 Deferred compensation 1,827 329 Electronic banking fees 1,323 1,397 Mortgage banking 1,261 1,273 Letter of credit fees 1,036 1,061 Insurance commissions 883 487 Other 2,299 3,071 Total $ 14,391 $ 13,289 All other expense: Other insurance and taxes $ 2,390 $ 3,313 Travel and entertainment 2,348 2,062 Employee training and dues 1,543 1,390 Customer relations 1,336 1,879 Tax credit investments 942 706 Supplies 863 1,026 Miscellaneous loan costs 622 717 Foreclosed real estate 204 (258) Litigation and regulatory matters (292) (475) Other 8,831 11,719 Total $ 18,787 $ 22,079 |
Components of Other Comprehen32
Components of Other Comprehensive Income/(Loss) (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Table Text Block Supplement [Abstract] | |
Accumulated Other Comprehensive Income/(Loss) | The following table provides the changes in accumulated other comprehensive income/(loss) by component, net of tax, for the three months ended March 31, 2017 and 2016: (Dollars in thousands) Securities AFS Cash Flow Hedges Pension and Post-retirement Plans Total Balance as of January 1, 2017 $ (17,232) $ (1,265) $ (229,157) $ (247,654) Net unrealized gains/(losses) (1,536) (1,062) - (2,598) Amounts reclassified from AOCI (27) (852) 1,173 294 Other comprehensive income/(loss) (1,563) (1,914) 1,173 (2,304) Balance as of March 31, 2017 $ (18,795) $ (3,179) $ (227,984) $ (249,958) Balance as of January 1, 2016 $ 3,394 $ - $ (217,586) $ (214,192) Net unrealized gains/(losses) 40,180 3,839 - 44,019 Amounts reclassified from AOCI (1,020) (374) 1,126 (268) Other comprehensive income/(loss) 39,160 3,465 1,126 43,751 Balance as of March 31, 2016 $ 42,554 $ 3,465 $ (216,460) $ (170,441) |
Reclassification Out Of Accumulated Other Comprehensive Income [Table Text Block] | Reclassifications from AOCI, and related tax effects, were as follows: (Dollars in thousands) Three Months Ended March 31 Details about AOCI 2017 2016 Affected line item in the statement where net income is presented Securities AFS: Realized (gains)/losses on securities AFS $ (44) $ (1,654) Debt securities gains/(losses), net Tax expense/(benefit) 17 634 Provision/(benefit) for income taxes (27) (1,020) Cash flow hedges: Realized (gains)/losses on cash flow hedges (1,380) (606) Interest and fees on loans Tax expense/(benefit) 528 232 Provision/(benefit) for income taxes (852) (374) Pension and Postretirement Plans: Amortization of prior service cost and net actuarial gain/(loss) 1,900 1,826 Employee compensation, incentives, and benefits Tax expense/(benefit) (727) (700) Provision/(benefit) for income taxes 1,173 1,126 Total reclassification from AOCI $ 294 $ (268) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule Of Reconciliation Of Earnings/(Loss) Per Common And Diluted 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 March 31 (Dollars and shares in thousands, except per share data) 2017 2016 Net income/(loss) $ 58,388 $ 52,213 Net income attributable to noncontrolling interest 2,820 2,851 Net income/(loss) attributable to controlling interest 55,568 49,362 Preferred stock dividends 1,550 1,550 Net income/(loss) available to common shareholders $ 54,018 $ 47,812 Weighted average common shares outstanding - basic 233,076 234,651 Effect of dilutive securities 3,779 2,015 Weighted average common shares outstanding - diluted 236,855 236,666 Net income/(loss) per share available to common shareholders $ 0.23 $ 0.20 Diluted income/(loss) per share available to common shareholders $ 0.23 $ 0.20 |
Schedule Of Anti-Dilutive Options and Awards | The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met: Three Months Ended March 31 (Shares in thousands) 2017 2016 Stock options excluded from the calculation of diluted EPS 2,453 4,119 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 26.08 $ 22.45 Other equity awards excluded from the calculation of diluted EPS 99 1,124 |
Pension, Savings, And Other E34
Pension, Savings, And Other Employee Benefits (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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) 2017 2016 2017 2016 Components of net periodic benefit cost Service cost $ 9 $ 10 $ 27 $ 28 Interest cost 7,379 7,882 326 317 Expected return on plan assets (8,891) (9,773) (237) (229) Amortization of unrecognized: Prior service cost/(credit) 13 49 24 43 Actuarial (gain)/loss 2,380 2,068 (142) (233) Net periodic benefit cost/(credit) $ 890 $ 236 $ (2) $ (74) |
Business Segment Information (T
Business Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Business Segment Information [Abstract] | |
Amounts Of Consolidated Revenue, Expense, Tax And Assets | Three Months Ended March 31 (Dollars in thousands) 2017 2016 Consolidated Net interest income $ 189,708 $ 172,074 Provision/(provision credit) for loan losses (1,000) 3,000 Noninterest income 116,939 134,305 Noninterest expense 222,205 226,927 Income/(loss) before income taxes 85,442 76,452 Provision/(benefit) for income taxes 27,054 24,239 Net income/(loss) $ 58,388 $ 52,213 Average assets $ 28,806,106 $ 26,618,694 Three Months Ended March 31 (Dollars in thousands) 2017 2016 Regional Banking Net interest income $ 193,389 $ 172,312 Provision/(provision credit) for loan losses 3,098 14,767 Noninterest income 58,976 59,276 Noninterest expense 148,065 145,399 Income/(loss) before income taxes 101,202 71,422 Provision/(benefit) for income taxes 36,623 25,407 Net income/(loss) $ 64,579 $ 46,015 Average assets $ 17,955,319 $ 15,945,192 Fixed Income Net interest income $ 1,151 $ 2,667 Noninterest income 50,822 67,122 Noninterest expense 48,685 58,623 Income/(loss) before income taxes 3,288 11,166 Provision/(benefit) for income taxes 1,024 3,892 Net income/(loss) $ 2,264 $ 7,274 Average assets $ 1,875,708 $ 2,269,678 Corporate Net interest income/(expense) $ (14,100) $ (14,363) Noninterest income 5,476 5,723 Noninterest expense 16,880 13,461 Income/(loss) before income taxes (25,504) (22,101) Provision/(benefit) for income taxes (13,093) (11,246) Net income/(loss) $ (12,411) $ (10,855) Average assets $ 7,359,015 $ 6,362,224 Non-Strategic Net interest income $ 9,268 $ 11,458 Provision/(provision credit) for loan losses (4,098) (11,767) Noninterest income 1,665 2,184 Noninterest expense 8,575 9,444 Income/(loss) before income taxes 6,456 15,965 Provision/(benefit) for income taxes 2,500 6,186 Net income/(loss) $ 3,956 $ 9,779 Average assets $ 1,616,064 $ 2,041,600 Certain previously reported amounts have been reclassified to agree with current presentation. |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Variable Interest Entities [Abstract] | |
Summary Of VIEs Consolidated By FHN | The following table summarizes VIEs consolidated by FHN as of March 31, 2017 and December 31, 2016: March 31, 2017 December 31, 2016 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 $ - N/A $ - N/A Loans, net of unearned income 32,486 N/A 35,873 N/A Less: Allowance for loan losses 244 N/A 587 N/A Total net loans 32,242 N/A 35,286 N/A Other assets 150 $ 76,149 283 $ 74,160 Total assets $ 32,392 $ 76,149 $ 35,569 $ 74,160 Liabilities: Term borrowings $ 19,819 N/A $ 23,126 N/A Other liabilities 3 $ 57,559 3 $ 54,746 Total liabilities $ 19,822 $ 57,559 $ 23,129 $ 54,746 |
Summary of the Impact of Qualifying LIHTC Investments | Three Months Ended Three Months Ended (Dollars in thousands) March 31, 2017 March 31, 2016 Provision/(benefit) for income taxes: Amortization of qualifying LIHTC investments $ 2,278 $ 2,298 Low income housing tax credits (2,400) (2,523) Other tax benefits related to qualifying LIHTC investments (919) (1,110) |
Summary Of VIEs Not Consolidated By FHN | The following table summarizes FHN’s nonconsolidated VIEs as of March 31, 2017: Maximum Liability (Dollars in thousands) Loss Exposure Recognized Classification Type Low income housing partnerships $ 71,114 $ 14,749 (a) Other tax credit investments (b) (c) 21,210 - Other assets Small issuer trust preferred holdings (d) 332,959 - Loans, net of unearned income On-balance sheet trust preferred securitization 49,361 64,812 (e) Proprietary residential mortgage securitizations 2,330 - Trading securities Holdings of agency mortgage-backed securities (d) 4,289,239 - (f) Commercial loan troubled debt restructurings (g) 35,295 - Loans, net of unearned income Sale-leaseback transaction 14,827 - (h) Maximum loss exposure represents $ 56 . 4 million of current investments and $ 14 . 7 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 2017 . A lia bility is not recognized as investments are written down over the life of the related tax credit . Maximum loss exposure represe nts 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 ho lder 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 $ 64.8 million classified as Term borrowings. Includes $ .5 b illion classified as Trading securities and $ 3 . 8 billion cla ssified as Securities available-for- sale. Ma ximum loss exposure represents $ 34.5 million of current receivables and $ .8 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring . Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. The following table summarizes FHN's nonconsolidated VIEs as of December 31, 2016: Maximum Liability (Dollars in thousands) Loss Exposure Recognized Classification Type Low income housing partnerships $ 73,582 $ 17,398 (a) Other tax credit investments (b) (c) 21,898 - Other assets Small issuer trust preferred holdings (d) 332,985 - Loans, net of unearned income On-balance sheet trust preferred securitization 49,361 64,812 (e) Proprietary residential mortgage securitizations 2,568 - Trading securities Holdings of agency mortgage-backed securities (d) 4,163,313 - (f) Commercial loan troubled debt restructurings (g) 42,696 - Loans, net of unearned income Sale-leaseback transaction 11,827 - (h) Maximum loss exposure represents $ 56.2 million of current investments and $ 17.4 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 2017 . A liability is not recognized as investments are written down over the life of the related tax credit. Maximum loss exposure represe nts 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 ho lder 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 $ 64 . 8 million classified as Term borrowings. Includes $ . 4 b illion classified as Tradi ng securities and $ 3 . 8 billion cla ssified as Securities available-for- sale. Maximum loss exposure represents $ 37.5 million of current receivables and $ 5.2 million of contractual funding commitments on loans related to commercial borrowers involved in a tro ubled debt restructuring . Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor . |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivatives [Abstract] | |
Derivatives Associated With Fixed Income Trading Activities | The following tables summarize FHN’s derivatives associated with fixed income trading activities as of March 31, 2017 and December 31, 2016: March 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts $ 1,743,855 $ 34,060 $ 15,510 Offsetting Upstream Interest Rate Contracts 1,743,855 15,258 31,677 Option Contracts Purchased 60,000 86 - Forwards and Futures Purchased 3,804,024 11,817 5,230 Forwards and Futures Sold 3,817,997 5,410 13,135 December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts $ 1,697,992 $ 39,495 $ 14,996 Offsetting Upstream Interest Rate Contracts 1,697,992 14,996 39,495 Option Contracts Purchased 17,500 63 - Option Contracts Written 5,000 - 8 Forwards and Futures Purchased 2,916,750 6,257 26,659 Forwards and Futures Sold 3,085,396 27,330 6,615 |
Derivatives Associated With Interest Rate Risk Management Activities | The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of March 31, 2017 and December 31, 2016: March 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer Interest Rate Contracts $ 1,450,711 $ 15,401 $ 15,388 Offsetting Upstream Interest Rate Contracts 1,450,711 14,053 14,277 Debt Hedging Hedging Instruments: Interest Rate Swaps $ 900,000 $ 749 N/A Hedged Items: Term Borrowings N/A N/A $ 900,000 (a) December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer Interest Rate Contracts $ 1,357,920 $ 17,566 $ 14,277 Offsetting Upstream Interest Rate Contracts 1,357,920 14,277 18,066 Debt Hedging Hedging Instruments: Interest Rate Swaps $ 900,000 $ 1,628 $ 7,276 Hedged Items: Term Borrowings N/A N/A $ 900,000 (a) Represents par value of term borrowings being hedged. |
Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities | The following table summarizes gains/(losses) on FHN's derivatives associated with interest rate risk management activities for the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer Interest Rate Contracts (a) $ (3,276) $ 12,559 Offsetting Upstream Interest Rate Contracts (a) 3,276 (12,559) Debt Hedging Hedging Instruments: Interest Rate Swaps (a) $ (2,800) $ 17,037 Hedged Items: Term Borrowings (a) (b) 2,733 (16,745) Gains/losses included in the All other expense section of the Consolidated Condensed Statements of Income. Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships . |
Derivative Associated With Cash Flow Hedges | The following tables summarize FHN’s derivative activities associated with cash flow hedges as of March 31, 2017 and December 31, 2016: March 31, 2017 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest Rate Swaps $ 900,000 $ 1,286 N/A Hedged Items: Variability in Cash Flows Related to Debt Instruments (Primarily Loans) N/A $ 900,000 N/A December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest Rate Swaps $ 250,000 N/A $ 2,045 Hedged Items: Variability in Cash Flows Related to Debt Instruments (Primarily Loans) N/A $ 250,000 N/A |
Gains/(Losses) on Derivatives Associated with Cash Flow Hedges | The following table summarizes gains/(losses) on FHN's derivatives associated with cash flow hedges for the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Cash Flow Hedges Hedging Instruments: Interest Rate Swaps (a) (b) $ (3,101) $ 5,618 Hedged Items: Variability in Cash Flows Related to Debt Instruments (Primarily Loans) N/A N/A Amount represents the pre-tax gains/(losses) included within AOCI . Includes approximately $ 1.5 million of losses expected to be reclassified into earnings in the next twelve months . |
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 March 31, 2017 and December 31, 2016: March 31,2017 (Dollars in thousands) Notional Assets Liabilities Loan Portfolio Hedging Hedging Instruments: Interest Rate Swaps $ 6,500 N/A $ 134 Hedged Items: Trust Preferred Loans (a) N/A $ 6,500 (b) N/A December 31, 2016 (Dollars in thousands) Notional Assets Liabilities Loan Portfolio Hedging Hedging Instruments: Interest Rate Swaps $ 6,500 N/A $ 208 Hedged Items: Trust Preferred Loans (a) N/A $ 6,500 (b) N/A Assets included in the Loans, net of unearned income section of the Consolidated Condensed Statements of Condition. Represents principal balance being hedged. |
Gains/(Losses) on Derivatives Associated with Trust Preferred Loans | The following table summarizes gains/(losses) on FHN's derivatives associated with held-to-maturity trust preferred loans for the three months ended March 31, 2017 and 2016: March 31, 2017 March 31, 2016 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Loan Portfolio Hedging Hedging Instruments: Interest Rate Swaps $ 74 $ 43 Hedged Items: Trust Preferred Loans (a) $ (74) $ (42) 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 details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of March 31, 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Derivative Gross amounts offset in the assets presented liabilities of recognized Statements of in the Statements available for Collateral (Dollars in thousands) assets Condition of Condition (a) offset Received Net amount Derivative assets: March 31, 2017 (b) $ 80,807 $ - $ 80,807 $ (18,674) $ (46,189) $ 15,944 December 31, 2016 (b) 87,962 - 87,962 (25,953) (52,888) 9,121 In cluded in Derivative assets on the Consolidated Condensed Statements of Condition. As of March 31 , 2017 and December 31, 2016, $ 17 . 3 million and $ 33.7 million, respectively, of derivative assets (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. Amounts are comprised entirely of interest rate derivative contracts. |
Derivative Liabilities and Collateral Pledged | The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of March 31, 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Gross amounts offset in the liabilities presented Derivative of recognized Statements of in the Statements assets available Collateral (Dollars in thousands) liabilities Condition of Condition (a) for offset pledged Net amount Derivative liabilities: March 31, 2017 (b) $ 76,986 $ - $ 76,986 $ (18,674) $ (55,378) $ 2,934 December 31, 2016 (b) 96,363 - 96,363 (25,953) (60,746) 9,664 In cluded in Derivative l iabilities on the Consolidated Condensed Statements of Condition. As of March 31 , 2017 and December 31, 2016, $ 24 . 4 million and $ 39.5 million, respectively, of derivative liabilities (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. Amounts are comprised entirely of interest rate derivative contracts. |
Master Netting And Similar Ag38
Master Netting And Similar Agreements (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Master Netting And Similar Agreements [Abstract] | |
Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties [Table Text Block] | The following table provides details 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 , 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Offsetting Securities collateral Gross amounts offset in the assets presented securities sold (not recognized on of recognized Statements of in the Statements under agreements FHN's Statements (Dollars in thousands) assets Condition of Condition to repurchase of Condition) Net amount Securities purchased under agreements to resell: March 31, 2017 $ 835,222 $ - $ 835,222 $ (150) $ (828,596) $ 6,476 December 31, 2016 613,682 - 613,682 (1,628) (603,813) 8,241 |
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company [Table Text Block] | The following table provides details 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 , 2017 and December 31, 2016: Gross amounts not offset in the Statements of Condition Gross amounts Net amounts of Offsetting Gross amounts offset in the liabilities presented securities of recognized Statements of in the Statements purchased under Securities (Dollars in thousands) liabilities Condition of Condition agreements to resell Collateral Net amount Securities sold under agreements to repurchase: March 31, 2017 $ 406,354 $ - $ 406,354 $ (150) $ (406,185) $ 19 December 31, 2016 453,053 - 453,053 (1,628) (451,414) 11 |
Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase | Due to the short duration of Securities sold under agreements to repurchase and the nature of collateral involved, the risks associated with these transactions are considered minimal. The following tables provide details, by collateral type, of the remaining contractual maturity of Securities sold under agreements to repurchase as of March 31, 2017 and December 31, 2016: March 31, 2017 Overnight and (Dollars in thousands) Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 19,344 $ - $ 19,344 Government agency issued MBS 345,156 - 345,156 Government agency issued CMO 29,383 12,471 41,854 Total Securities sold under agreements to repurchase $ 393,883 $ 12,471 $ 406,354 December 31, 2016 Overnight and (Dollars in thousands) Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 14,864 $ - $ 14,864 Government agency issued MBS 421,771 - 421,771 Government agency issued CMO - 16,418 16,418 Total Securities sold under agreements to repurchase $ 436,635 $ 16,418 $ 453,053 |
Fair Value Of Assets And Liab39
Fair Value Of Assets And Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017: March 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities - fixed income: U.S. treasuries $ - $ 107,264 $ - $ 107,264 Government agency issued MBS - 323,058 - 323,058 Government agency issued CMO - 213,949 - 213,949 Other U.S. government agencies - 88,613 - 88,613 States and municipalities - 83,872 - 83,872 Corporate and other debt - 346,743 5 346,748 Equity, mutual funds, and other - 1,476 - 1,476 Total trading securities - fixed income - 1,164,975 5 1,164,980 Trading securities - mortgage banking - - 2,330 2,330 Loans held-for-sale - 1,224 21,221 22,445 Securities available-for-sale: U.S. treasuries - 100 - 100 Government agency issued MBS - 2,159,922 - 2,159,922 Government agency issued CMO - 1,592,311 - 1,592,311 Equity, mutual funds, and other 25,221 - - 25,221 Total securities available-for-sale 25,221 3,752,333 - 3,777,554 Other assets: Deferred compensation assets 34,109 - - 34,109 Derivatives, forwards and futures 17,227 - - 17,227 Derivatives, interest rate contracts - 80,893 - 80,893 Total other assets 51,336 80,893 - 132,229 Total assets $ 76,557 $ 4,999,425 $ 23,556 $ 5,099,538 Trading liabilities - fixed income: U.S. treasuries $ - $ 657,059 $ - $ 657,059 States and municipalities - 11,048 - 11,048 Corporate and other debt - 180,083 - 180,083 Total trading liabilities - fixed income - 848,190 - 848,190 Other liabilities: Derivatives, forwards and futures 18,365 - - 18,365 Derivatives, interest rate contracts - 76,986 - 76,986 Derivatives, other - 46 5,950 5,996 Total other liabilities 18,365 77,032 5,950 101,347 Total liabilities $ 18,365 $ 925,222 $ 5,950 $ 949,537 The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2016: December 31, 2016 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities - fixed income: U.S. treasuries $ - $ 146,988 $ - $ 146,988 Government agency issued MBS - 256,611 - 256,611 Government agency issued CMO - 150,058 - 150,058 Other U.S. government agencies - 52,314 - 52,314 States and municipalities - 60,351 - 60,351 Corporate and other debt - 227,934 5 227,939 Equity, mutual funds, and other - 242 - 242 Total trading securities - fixed income - 894,498 5 894,503 Trading securities - mortgage banking - - 2,568 2,568 Loans held-for-sale - 2,345 21,924 24,269 Securities available-for-sale: U.S. treasuries - 100 - 100 Government agency issued MBS - 2,208,687 - 2,208,687 Government agency issued CMO - 1,547,958 - 1,547,958 Equity, mutual funds, and other 25,249 - - 25,249 Total securities available-for-sale 25,249 3,756,745 - 3,781,994 Other assets: Mortgage servicing rights - - 985 985 Deferred compensation assets 32,840 - - 32,840 Derivatives, forwards and futures 33,587 - - 33,587 Derivatives, interest rate contracts - 88,025 - 88,025 Derivatives, other - 42 - 42 Total other assets 66,427 88,067 985 155,479 Total assets $ 91,676 $ 4,741,655 $ 25,482 $ 4,858,813 Trading liabilities - fixed income: U.S. treasuries $ - $ 381,229 $ - $ 381,229 Other U.S. government agencies - 844 - 844 Corporate and other debt - 179,775 - 179,775 Total trading liabilities - fixed income - 561,848 - 561,848 Other liabilities: Derivatives, forwards and futures 33,274 - - 33,274 Derivatives, interest rate contracts - 96,371 - 96,371 Derivatives, other - 7 6,245 6,252 Total other liabilities 33,274 96,378 6,245 135,897 Total liabilities $ 33,274 $ 658,226 $ 6,245 $ 697,745 |
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, 2017 and 2016, on a recurring basis are summarized as follows: Three Months Ended March 31, 2017 Trading Loans held- Net derivative (Dollars in thousands) securities for-sale liabilities Balance on January 1, 2017 $ 2,573 $ 21,924 $ (6,245) Total net gains/(losses) included in: Net income 17 922 (1) Purchases - 32 - Settlements (255) (1,574) 296 Net transfers into/(out of) Level 3 - (83) (b) - Balance on March 31, 2017 $ 2,335 $ 21,221 $ (5,950) Net unrealized gains/(losses) included in net income $ (27) (a) $ 922 (a) $ (1) (c) Three Months Ended March 31, 2016 Securities Mortgage Trading Loans held- available- servicing Net derivative (Dollars in thousands) securities for-sale for-sale rights, net liabilities Balance on January 1, 2016 $ 4,377 $ 27,418 $ 1,500 $ 1,841 $ (4,810) Total net gains/(losses) included in: Net income 147 342 - - (109) Purchases - 148 - - - Settlements (1,467) (1,365) - (116) 299 Net transfers into/(out of) Level 3 - (256) (b) - - - Balance on March 31, 2016 $ 3,057 $ 26,287 $ 1,500 $ 1,725 $ (4,620) Net unrealized gains/(losses) included in net income $ (115) (a) $ 342 (a) $ - $ - $ (109) (c) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. Transfers out of loans held-for-sale level 3 measured on a recurring basis generally r eflect movements 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 lower of cost or market (“ 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 , 2017 , and December 31, 2016 , respectively, the following tables provide the level o f valuation assumptions used to determine each adjustment and the related carrying value. Carrying value at March 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale - SBAs $ - $ 3,476 $ - $ 3,476 Loans held-for-sale - first mortgages - - 606 606 Loans, net of unearned income (a) - - 30,838 30,838 Real estate acquired by foreclosure (b) - - 10,259 10,259 Other assets (c) - - 28,667 28,667 Carrying value at December 31, 2016 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale - SBAs $ - $ 4,286 $ - $ 4,286 Loans held-for-sale - first mortgages - - 638 638 Loans, net of unearned income (a) - - 31,070 31,070 Real estate acquired by foreclosure (b) - - 11,235 11,235 Other assets (c) - - 29,609 29,609 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. 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 . |
Gains/(losses) on Noncurring Fair Value Measurements | For assets measured on a nonrecurring basis which were still held on the consolidated balance sheet at period end, the following table provides information about the fair value adjustments recorded during the three months ended March 31, 2017 and 2016: Net gains/(losses) Three months ended March 31, (Dollars in thousands) 2017 2016 Loans held-for-sale - SBAs $ (33) $ - Loans held-for-sale - first mortgages 3 5 Loans, net of unearned income (a) 484 (4,672) Real estate acquired by foreclosure (b) (445) (536) Other assets (c) (942) (706) $ (933) $ (5,909) Write-downs on these loans are recognized as part of provision for loan losses. Represents 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, 2017 and December 31, 2016: (Dollars in Thousands) Fair Value at Level 3 Class March 31, 2017 Valuation Techniques Unobservable Input Values Utilized Loans held-for-sale - residential real estate 21,827 Discounted cash flow Prepayment speeds - First mortgage 2% - 12% Prepayment speeds - HELOC 3% - 15% Foreclosure losses 50% - 70% Loss severity trends - First mortgage 5% - 50% of UPB Loss severity trends - HELOC 15% - 100% of UPB Derivative liabilities, other 5,950 Discounted cash flow Visa covered litigation resolution amount $4.4 billion - $5.2 billion Probability of resolution scenarios 10% - 30% Time until resolution 21 - 51 months Loans, net of unearned income (a) 30,838 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 (b) 10,259 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 28,667 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 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 for loan losses. 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 eq uity method . (Dollars in Thousands) Fair Value at Level 3 Class December 31, 2016 Valuation Techniques Unobservable Input Values Utilized Loans held-for-sale - residential real estate 22,562 Discounted cash flow Prepayment speeds - First mortgage 2% - 13% Prepayment speeds - HELOC 3% - 15% Foreclosure Losses 50% - 70% Loss severity trends - First mortgage 5% - 50% of UPB Loss severity trends - HELOC 15% - 100% of UPB Derivative liabilities, other 6,245 Discounted cash flow Visa covered litigation resolution amount $4.4 billion - $5.2 billion Probability of resolution scenarios 10% - 30% Time until resolution 24 - 54 months Loans, net of unearned income (a) 31,070 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 (b) 11,235 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 29,609 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 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 for loan losses. 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 accoun ted 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. March 31, 2017 (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 $ 22,444 $ 32,427 $ (9,983) Nonaccrual loans 6,689 12,305 (5,616) Loans 90 days or more past due and still accruing 120 158 (38) December 31, 2016 (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 $ 24,269 $ 35,262 $ (10,993) Nonaccrual loans 6,775 12,910 (6,135) Loans 90 days or more past due and still accruing 211 331 (120) |
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 March 31 (Dollars in thousands) 2017 2016 Changes in fair value included in net income: Mortgage banking noninterest income Loans held-for-sale $ 922 $ 342 |
Summary Of Book Value And Estimated Fair Value Of Financial Instruments | The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Condensed Statements of Condition as of March 31, 2017: March 31, 2017 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 $ 11,610,889 $ - $ - $ 11,520,970 $ 11,520,970 Commercial real estate 2,142,423 - - 2,112,591 2,112,591 Consumer: Consumer real estate 4,407,131 - - 4,325,035 4,325,035 Permanent mortgage 393,342 - - 393,859 393,859 Credit card & other 334,321 - - 334,868 334,868 Total loans, net of unearned income and allowance for loan losses 18,888,106 - - 18,687,323 18,687,323 Short-term financial assets: Interest-bearing cash 2,106,597 2,106,597 - - 2,106,597 Federal funds sold 31,495 - 31,495 - 31,495 Securities purchased under agreements to resell 835,222 - 835,222 - 835,222 Total short-term financial assets 2,973,314 2,106,597 866,717 - 2,973,314 Trading securities (a) 1,167,310 - 1,164,975 2,335 1,167,310 Loans held-for-sale 105,456 - 4,700 100,756 105,456 Securities available-for-sale (a) (b) 3,939,278 25,221 3,752,333 161,724 3,939,278 Securities held-to-maturity 14,354 - - 14,803 14,803 Derivative assets (a) 98,120 17,227 80,893 - 98,120 Other assets: Tax credit investments 96,824 - - 94,884 94,884 Deferred compensation assets 34,109 34,109 - - 34,109 Total other assets 130,933 34,109 - 94,884 128,993 Nonearning assets: Cash & due from banks 369,290 369,290 - - 369,290 Fixed income receivables 168,315 - 168,315 - 168,315 Accrued interest receivable 61,832 - 61,832 - 61,832 Total nonearning assets 599,437 369,290 230,147 - 599,437 Total assets $ 27,916,308 $ 2,552,444 $ 6,099,765 $ 19,061,825 $ 27,714,034 Liabilities: Deposits: Defined maturity $ 1,385,818 $ - $ 1,391,170 $ - $ 1,391,170 Undefined maturity 22,094,023 - 22,094,023 - 22,094,023 Total deposits 23,479,841 - 23,485,193 - 23,485,193 Trading liabilities (a) 848,190 - 848,190 - 848,190 Short-term financial liabilities: Federal funds purchased 504,805 - 504,805 - 504,805 Securities sold under agreements to repurchase 406,354 - 406,354 - 406,354 Other short-term borrowings 79,454 - 79,454 - 79,454 Total short-term financial liabilities 990,613 - 990,613 - 990,613 Term borrowings: Real estate investment trust-preferred 46,049 - - 49,350 49,350 Term borrowings - new market tax credit investment 18,000 - - 17,934 17,934 Borrowings secured by residential real estate 19,819 - - 18,828 18,828 Other long term borrowings 951,168 - 967,792 - 967,792 Total term borrowings 1,035,036 - 967,792 86,112 1,053,904 Derivative liabilities (a) 101,347 18,365 77,032 5,950 101,347 Other noninterest-bearing liabilities: Fixed income payables 21,116 - 21,116 - 21,116 Accrued interest payable 17,696 - 17,696 - 17,696 Total other noninterest-bearing liabilities 38,812 - 38,812 - 38,812 Total liabilities $ 26,493,839 $ 18,365 $ 26,407,632 $ 92,062 $ 26,518,059 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 $ 68.6 million . The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Statements of Condition as of December 31, 2016: December 31, 2016 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 $ 12,058,689 $ - $ - $ 11,918,374 $ 11,918,374 Commercial real estate 2,101,671 - - 2,078,306 2,078,306 Consumer: Consumer real estate 4,473,395 - - 4,385,669 4,385,669 Permanent mortgage 406,836 - - 404,930 404,930 Credit card & other 346,861 - - 347,577 347,577 Total loans, net of unearned income and allowance for loan losses 19,387,452 - - 19,134,856 19,134,856 Short-term financial assets: Interest-bearing cash 1,060,034 1,060,034 - - 1,060,034 Federal funds sold 50,838 - 50,838 - 50,838 Securities purchased under agreements to resell 613,682 - 613,682 - 613,682 Total short-term financial assets 1,724,554 1,060,034 664,520 - 1,724,554 Trading securities (a) 897,071 - 894,498 2,573 897,071 Loans held-for-sale 111,248 - 6,631 104,617 111,248 Securities available-for-sale (a) (b) 3,943,499 25,249 3,756,745 161,505 3,943,499 Securities held-to-maturity 14,347 - - 14,773 14,773 Derivative assets (a) 121,654 33,587 88,067 - 121,654 Other assets: Tax credit investments 100,105 - - 98,400 98,400 Deferred compensation assets 32,840 32,840 - - 32,840 Total other assets 132,945 32,840 - 98,400 131,240 Nonearning assets: Cash & due from banks 373,274 373,274 - - 373,274 Fixed income receivables 57,411 - 57,411 - 57,411 Accrued interest receivable 62,887 - 62,887 - 62,887 Total nonearning assets 493,572 373,274 120,298 - 493,572 Total assets $ 26,826,342 $ 1,524,984 $ 5,530,759 $ 19,516,724 $ 26,572,467 Liabilities: Deposits: Defined maturity $ 1,355,133 $ - $ 1,361,104 $ - $ 1,361,104 Undefined maturity 21,317,230 - 21,317,230 - 21,317,230 Total deposits 22,672,363 - 22,678,334 - 22,678,334 Trading liabilities (a) 561,848 - 561,848 - 561,848 Short-term financial liabilities: Federal funds purchased 414,207 - 414,207 - 414,207 Securities sold under agreements to repurchase 453,053 - 453,053 - 453,053 Other short-term borrowings 83,177 - 83,177 - 83,177 Total short-term financial liabilities 950,437 - 950,437 - 950,437 Term borrowings: Real estate investment trust-preferred 46,032 - - 49,350 49,350 Term borrowings - new market tax credit investment 18,000 - - 17,918 17,918 Borrowings secured by residential real estate 23,126 - - 21,969 21,969 Other long term borrowings 953,498 - 965,066 - 965,066 Total term borrowings 1,040,656 - 965,066 89,237 1,054,303 Derivative liabilities (a) 135,897 33,274 96,378 6,245 135,897 Other noninterest-bearing liabilities: Fixed income payables 21,002 - 21,002 - 21,002 Accrued interest payable 10,336 - 10,336 - 10,336 Total other noninterest-bearing liabilities 31,338 - 31,338 - 31,338 Total liabilities $ 25,392,539 $ 33,274 $ 25,283,401 $ 95,482 $ 25,412,157 Certain previously reported amounts have been reclassified to agree with current presentation. Classes are detailed in the recurring and nonrecurring measur ement tables. Level 3 includes restricted investments in FHLB-Cincinnati stock of $ 87.9 million and FRB stock of $ 68.6 million. The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of March 31, 2017 and December 31, 2016: Contractual Amount Fair Value (Dollars in thousands) March 31, 2017 December 31, 2016 March 31, 2017 December 31, 2016 Unfunded Commitments: Loan commitments $ 9,430,508 $ 8,744,649 $ 2,612 $ 2,924 Standby and other commitments 273,029 277,549 4,230 4,037 |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Income tax benefit | $ 27,054 | $ 24,239 |
Accounting Standards Update 201609 [Member] | Minimum [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Income tax benefit | 1,000 | |
Accounting Standards Update 201609 [Member] | Maximum [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Income tax benefit | $ 3,000 |
Acquisitions and Divestitures (
Acquisitions and Divestitures (Narrative) (Details) $ in Thousands | 3 Months Ended | 4 Months Ended | |||
Apr. 03, 2017USD ($) | May 04, 2017USD ($)number | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 16, 2016USD ($) | |
Business Acquisition [Line Items] | |||||
Total assets | $ 29,618,600 | $ 28,555,231 | |||
Capital Bank Financial Corp [Member] | |||||
Business Acquisition [Line Items] | |||||
Total assets | $ 10,000,000 | ||||
Number Of Bank Branches | number | 193 | ||||
Expected cash payment to acquire business, gross | $ 411,000 | ||||
Estimated Percent Of Common Shares Held By Aquired Entity After Merger | 29.00% | ||||
Aggregate Transaction Value | $ 2,200,000 | ||||
Coastal Securities | |||||
Business Acquisition [Line Items] | |||||
Expected cash payment to acquire business, gross | $ 130,000 | ||||
As Acquired [Member] | GE Capital Member [Member] | |||||
Business Acquisition [Line Items] | |||||
Loans acquired | $ 537,400 |
Investment Securities (Schedule
Investment Securities (Schedule Of FHN's Investment Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | |||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | $ 3,969,748 | [1] | $ 3,971,435 | [2] |
Securities available for sale, Gross Unrealized Gains | 18,655 | [1] | 19,869 | [2] |
Securities available for sale, Gross Unrealized Losses | (49,125) | [1] | (47,805) | [2] |
Securities available for sale, Fair Value | 3,939,278 | [1] | 3,943,499 | [2] |
Pledged available for sale securities | 3,500,000 | 3,300,000 | ||
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 14,354 | 14,347 | ||
Securities held to maturity, Gross Unrealized Gains | 449 | 426 | ||
Securities held to maturity, Gross Unrealized Losses | 0 | 0 | ||
Securities held to maturity, Fair Value | 14,803 | 14,773 | ||
FRB [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted investments | 68,600 | 68,600 | ||
FHLB-Cincinnati Stock [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted investments | 87,900 | 87,900 | ||
U.S. treasuries | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 100 | 100 | ||
Securities available for sale, Gross Unrealized Gains | 0 | 0 | ||
Securities available for sale, Gross Unrealized Losses | 0 | 0 | ||
Securities available for sale, Fair Value | 100 | 100 | ||
Government Agency Issued Mortgage-Backed Securities ("MBS") | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 2,171,843 | 2,217,593 | ||
Securities available for sale, Gross Unrealized Gains | 13,675 | 14,960 | ||
Securities available for sale, Gross Unrealized Losses | (25,596) | (23,866) | ||
Securities available for sale, Fair Value | 2,159,922 | 2,208,687 | ||
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 1,610,857 | 1,566,986 | ||
Securities available for sale, Gross Unrealized Gains | 4,980 | 4,909 | ||
Securities available for sale, Gross Unrealized Losses | (23,526) | (23,937) | ||
Securities available for sale, Fair Value | 1,592,311 | 1,547,958 | ||
Equity and other | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale, Amortized Cost | 186,948 | [3] | 186,756 | [4] |
Securities available for sale, Gross Unrealized Gains | 0 | [3] | 0 | [4] |
Securities available for sale, Gross Unrealized Losses | (3) | [3] | (2) | [4] |
Securities available for sale, Fair Value | 186,945 | [3] | 186,754 | [4] |
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 0 | |||
Securities held to maturity, Fair Value | 0 | |||
States And Municipalities | ||||
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 4,354 | 4,347 | ||
Securities held to maturity, Gross Unrealized Gains | 386 | 393 | ||
Securities held to maturity, Gross Unrealized Losses | 0 | 0 | ||
Securities held to maturity, Fair Value | 4,740 | 4,740 | ||
Corporate Bonds | ||||
Schedule Of Held To Maturity Securities [Line Items] | ||||
Securities held to maturity, Amortized cost | 10,000 | 10,000 | ||
Securities held to maturity, Gross Unrealized Gains | 63 | 33 | ||
Securities held to maturity, Gross Unrealized Losses | 0 | 0 | ||
Securities held to maturity, Fair Value | $ 10,063 | $ 10,033 | ||
[1] | Includes $ 3 . 5 billion 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 repu rchase, and for other purposes . | |||
[3] | Includes restricted investments in FHLB-Cincinnati stock of $ 87 . 9 million and FRB stock of $ 68.6 million . The remainder is money market, mutual funds, and cost method investments. | |||
[4] | Includes restricted investments in FHLB-Cincinnati stock of $ 87.9 million and FRB stock of $ 68.6 million. The remainder is money market , mutual funds, and cost method investments. |
Investment Securities (Schedu43
Investment Securities (Schedule Of Amortized Cost And Fair Value By Contractual Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Schedule of Investments [Line Items] | |||||
Within 1 year, Amortized Cost | $ 100 | ||||
After 1 year; within 5 years, Amortized Cost | 0 | ||||
After 5 years; within 10 years, Amortized Cost | 0 | ||||
After 10 years, Amortized Cost | 0 | ||||
Subtotal, Amortized Cost | 100 | ||||
Within 1 year, Fair Value | 100 | ||||
After 1 year; within 5 years, Fair Value | 0 | ||||
After 5 years; within 10 years, Fair Value | 0 | ||||
After 10 years, Fair Value | 0 | ||||
Subtotal, Fair Value | 100 | ||||
Securities available for sale, Amortized Cost | 3,969,748 | [1] | $ 3,971,435 | [2] | |
Securities available for sale, Fair Value | 3,939,278 | [1] | 3,943,499 | [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 | 10,000 | ||||
HTM, After 10 years, Amortized Cost | 4,354 | ||||
HTM Subtotal, Amortized Cost | 14,354 | ||||
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 | 10,063 | ||||
HTM, After 10 years, Fair Value | 4,740 | ||||
HTM Subtotal, Fair Value | 14,803 | ||||
Securities held to maturity, Amortized cost | 14,354 | 14,347 | |||
Securities held to maturity, Fair Value | 14,803 | 14,773 | |||
Government Agency Issued MBS And CMO | |||||
Schedule of Investments [Line Items] | |||||
Securities available for sale, Amortized Cost | [3] | 3,782,700 | |||
Securities available for sale, Fair Value | [3] | 3,752,233 | |||
Securities held to maturity, Amortized cost | [3] | 0 | |||
Securities held to maturity, Fair Value | [3] | 0 | |||
Equity and other | |||||
Schedule of Investments [Line Items] | |||||
Securities available for sale, Amortized Cost | 186,948 | [4] | 186,756 | [5] | |
Securities available for sale, Fair Value | 186,945 | [4] | $ 186,754 | [5] | |
Securities held to maturity, Amortized cost | 0 | ||||
Securities held to maturity, Fair Value | $ 0 | ||||
[1] | Includes $ 3 . 5 billion 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 repu rchase, 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 . 9 million and FRB stock of $ 68.6 million . The remainder is money market, mutual funds, and cost method investments. | ||||
[5] | Includes restricted investments in FHLB-Cincinnati stock of $ 87.9 million and FRB stock of $ 68.6 million. The remainder is money market , mutual funds, and cost method investments. |
Investment Securities (Schedu44
Investment Securities (Schedule Of Realized Gross Gains And Losses On Sale From Available For Sale Portfolio) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | [2] | ||
Schedule of Investments [Line Items] | |||||
Gross gains on sales of securities | $ 44 | $ 3,837 | |||
Gross (losses) on sales of securities | 0 | (2,263) | |||
Net gain/(loss) on sales of securities | 44 | $ 1,574 | |||
Available For Sale Securities | $ 3,939,278 | [1] | $ 3,943,499 | ||
[1] | Includes $ 3 . 5 billion 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 repu rchase, and for other purposes . |
Investment Securities (Schedu45
Investment Securities (Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 2,914,364 | $ 2,971,604 |
Less than 12 months, Unrealized Losses | (44,124) | (42,920) |
12 months or longer, Fair Value | 111,813 | 116,527 |
12 months or longer, Unrealized Losses | (5,001) | (4,885) |
Total Fair Value | 3,026,177 | 3,088,131 |
Total Unrealized Losses | (49,125) | (47,805) |
Government Agency Issued Collateralized Mortgage Obligations ("CMO") | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,068,010 | 1,059,471 |
Less than 12 months, Unrealized Losses | (18,525) | (19,052) |
12 months or longer, Fair Value | 111,813 | 116,527 |
12 months or longer, Unrealized Losses | (5,001) | (4,885) |
Total Fair Value | 1,179,823 | 1,175,998 |
Total Unrealized Losses | (23,526) | (23,937) |
Government Agency Issued Mortgage-Backed Securities ("MBS") | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,846,348 | 1,912,126 |
Less than 12 months, Unrealized Losses | (25,596) | (23,866) |
12 months or longer, Fair Value | 0 | 0 |
12 months or longer, Unrealized Losses | 0 | 0 |
Total Fair Value | 1,846,348 | 1,912,126 |
Total Unrealized Losses | (25,596) | (23,866) |
Total debt securities | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 2,914,358 | 2,971,597 |
Less than 12 months, Unrealized Losses | (44,121) | (42,918) |
12 months or longer, Fair Value | 111,813 | 116,527 |
12 months or longer, Unrealized Losses | (5,001) | (4,885) |
Total Fair Value | 3,026,171 | 3,088,124 |
Total Unrealized Losses | (49,122) | (47,803) |
Equity | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 6 | 7 |
Less than 12 months, Unrealized Losses | (3) | (2) |
12 months or longer, Fair Value | 0 | 0 |
12 months or longer, Unrealized Losses | 0 | 0 |
Total Fair Value | 6 | 7 |
Total Unrealized Losses | $ (3) | $ (2) |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2017USD ($)number | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | Sep. 16, 2016USD ($) | Dec. 31, 2015USD ($) | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Troubled debt restructurings loans | $ 270,000,000 | $ 285,200,000 | |||||
Allowance for loan losses | 201,968,000 | $ 204,034,000 | 202,068,000 | $ 210,242,000 | |||
Average balance of impaired loans | 291,167,000 | 310,405,000 | 310,368,000 | ||||
Interest income recognized on impaired loan | 1,733,000 | 1,467,000 | 6,779,000 | ||||
Loans, net of unearned income | 19,090,074,000 | [1] | 17,574,994,000 | 19,589,520,000 | [1] | ||
Provision for loan losses | (1,000,000) | 3,000,000 | |||||
Allowance - purchased credit impaired loans | 590,000 | 1,148,000 | 700,000 | ||||
Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 123,995,000 | 123,250,000 | |||||
Commercial loans | 13,877,307,000 | 14,283,610,000 | |||||
Allowance - purchased credit impaired loans | 240,000 | 319,000 | |||||
As Acquired | GE Capital Member | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans acquired | $ 537,400,000 | ||||||
Permanent Mortgage Portfolio Segment | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | $ 15,893,000 | 18,754,000 | 16,289,000 | 18,947,000 | |||
TDR, reduction of interest rate by increment, basis points | 0.25% | ||||||
TDRS Maturities | 40 years | ||||||
Loans, net of unearned income | $ 409,235,000 | 442,791,000 | 423,125,000 | ||||
Modified interest rate increase | 1.00% | ||||||
Provision for loan losses | $ (816,000) | (860,000) | |||||
Allowance - purchased credit impaired loans | 0 | 0 | |||||
Loans Held-For-Sale | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Troubled debt restructurings loans | $ 67,200,000 | 69,300,000 | |||||
Residential Real Estate | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Concentration risk, percentage | 25.00% | ||||||
Consumer Real Estate Portfolio Segment | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Concentration risk, percentage | 23.00% | ||||||
Allowance for loan losses | $ 49,680,000 | 67,321,000 | 50,357,000 | 80,614,000 | |||
TDRS Maturities | 30 years | ||||||
Loans, net of unearned income | $ 4,456,811,000 | [2] | 4,690,230,000 | 4,523,752,000 | [2] | ||
Provision for loan losses | (2,504,000) | (12,102,000) | |||||
Allowance - purchased credit impaired loans | 350,000 | 725,000 | |||||
Allowance For TDRs To Recorded Investment Of TDRs | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Troubled debt restructurings loans | $ 43,400,000 | $ 44,900,000 | |||||
Ratio of the allowance for loan losses to loans | 16.00% | 16.00% | |||||
Loans To Mortgage Companies | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | $ 1,528,982,000 | $ 2,045,189,000 | |||||
Loans To Mortgage Companies | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Percentage contributed in total loan | 8.00% | ||||||
Percentage of commercial & industrial loan portfolio | 13.00% | ||||||
Commercial loans | $ 1,528,982,000 | 2,045,189,000 | |||||
Credit Card & Other | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 12,400,000 | 11,446,000 | 12,172,000 | $ 11,885,000 | |||
Loans, net of unearned income | 346,721,000 | 354,221,000 | 359,033,000 | ||||
Provision for loan losses | 2,872,000 | 2,080,000 | |||||
Allowance - purchased credit impaired loans | $ 0 | $ 1,000 | |||||
Credit Card | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Credit card workout program, granted rate reduction | 0.00% | ||||||
Loans, net of unearned income | $ 184,971,000 | 191,651,000 | |||||
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% | ||||||
Modified interest rate increase | 2.00% | ||||||
Restricted And Secured Consumer Real Estate Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans, net of unearned income | $ 32,500,000 | 35,900,000 | |||||
Finance And Insurance Companies | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Percentage contributed in total loan | 13.00% | ||||||
Percentage of commercial & industrial loan portfolio | 22.00% | ||||||
Commercial loans | $ 2,600,000,000 | ||||||
Finance Insurance And Loans To Mortgage Companies | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Percentage of commercial & industrial loan portfolio | 35.00% | ||||||
Maximum | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Forbearance agreements time period | 12 months | ||||||
Maximum | Permanent Mortgage Portfolio Segment | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Modified interest rate time period | 5 years | ||||||
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 | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Forbearance agreements time period | 6 months | ||||||
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% | ||||||
Modified interest rate time period | 5 years | ||||||
Pass | Maximum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 12 | ||||||
Pass | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 1 | ||||||
Special Mention | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 13 | ||||||
Special Mention | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 13 | ||||||
Substandard | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 14 | ||||||
Doubtful | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 15 | ||||||
Loss | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 16 | ||||||
Loss | Maximum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 16 | ||||||
PD Grade 1 | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Lowest expected default probability | number | 1 | ||||||
PD Grade 1 | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | $ 78,000 | 77,000 | |||||
PD Grade 12 | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 6,862,000 | 6,377,000 | |||||
PD Grade 13 | Commercial Portfolio Segment [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan losses | 3,757,000 | $ 4,225,000 | |||||
PD Grade 13 | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loans | $ 500,000 | ||||||
LGD Grade 1 | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 1 | ||||||
LGD Grade 12 | Maximum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loan grades | number | 12 | ||||||
Loan Reassessed | Minimum | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Commercial loans | $ 1,000,000 | ||||||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | ||||||
[2] | Balances as of March 3 1 , 201 7 and December 31, 201 6 , include $ 32 . 5 million and $ 35 . 9 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 ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | $ 19,090,074 | [1] | $ 19,589,520 | [1] | $ 17,574,994 | |
Allowance for loan losses | 201,968 | 202,068 | 204,034 | $ 210,242 | ||
Total net loans | 18,888,106 | 19,387,452 | ||||
Commercial Financial And Industrial Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 11,703,996 | 12,148,087 | 10,239,183 | |||
Allowance for loan losses | 93,107 | 89,398 | 80,887 | 73,637 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 2,173,311 | 2,135,523 | 1,848,569 | |||
Allowance for loan losses | 30,888 | 33,852 | 25,626 | 25,159 | ||
Consumer Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 4,456,811 | [2] | 4,523,752 | [2] | 4,690,230 | |
Allowance for loan losses | 49,680 | 50,357 | 67,321 | 80,614 | ||
Permanent Mortgage Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 409,235 | 423,125 | 442,791 | |||
Allowance for loan losses | 15,893 | 16,289 | 18,754 | 18,947 | ||
Credit Card And Other Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | 346,721 | 359,033 | 354,221 | |||
Allowance for loan losses | 12,400 | 12,172 | $ 11,446 | $ 11,885 | ||
Restricted And Secured Consumer Real Estate Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, net of unearned income | $ 32,500 | $ 35,900 | ||||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | |||||
[2] | Balances as of March 3 1 , 201 7 and December 31, 201 6 , include $ 32 . 5 million and $ 35 . 9 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 ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Loans [Abstract] | |||
Balance, beginning of period | $ 6,871 | $ 8,542 | |
Accretion | (851) | (1,151) | |
Adjustment for payoffs | (273) | (1,777) | |
Adjustment for charge-offs | 0 | (663) | |
Adjustment for pool excess recovery | [1] | (222) | 0 |
Increase in accretable yield | [2] | (295) | 4,007 |
Other | (32) | 0 | |
Balance, end of period | $ 5,198 | $ 8,958 | |
[1] | Represents the removal of accretable difference for the remaining loans in a pool which is now in a recovery state. | ||
[2] | 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 ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | $ 43,309 | $ 46,355 |
Unpaid balance | 46,229 | 49,863 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 38,088 | 40,368 |
Unpaid balance | 39,257 | 41,608 |
Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 4,096 | 4,763 |
Unpaid balance | 5,466 | 6,514 |
Consumer Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 1,072 | 1,172 |
Unpaid balance | 1,442 | 1,677 |
Credit Card And Other Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 53 | 52 |
Unpaid balance | $ 64 | $ 64 |
Loans (Information By Class Rel
Loans (Information By Class Related To Individually Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | $ 283,550 | $ 298,778 | ||
Unpaid Principal Balance | 321,629 | 336,303 | ||
Related Allowance | 44,322 | 45,818 | ||
Average Recorded Investment | 291,167 | $ 310,405 | 310,368 | |
Interest Income Recognized | 1,733 | 1,467 | 6,779 | |
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 48,066 | 51,086 | ||
Unpaid Principal Balance | 55,786 | 58,776 | ||
Related Allowance | 3,967 | 4,413 | ||
Average Recorded Investment | 49,576 | 46,471 | 52,779 | |
Interest Income Recognized | 234 | 113 | 994 | |
Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 235,484 | 247,692 | ||
Unpaid Principal Balance | 265,843 | 277,527 | ||
Related Allowance | 40,355 | 41,405 | ||
Average Recorded Investment | 241,591 | 263,934 | 257,589 | |
Interest Income Recognized | 1,499 | 1,354 | 5,785 | |
Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 10,395 | 10,419 | ||
Unpaid Principal Balance | 16,612 | 16,636 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 10,407 | 11,692 | 13,552 | |
Interest Income Recognized | 0 | 0 | 0 | |
Impaired Loans With No Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 20,443 | 20,651 | ||
Unpaid Principal Balance | 35,614 | 34,553 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 20,548 | 19,791 | 19,841 | |
Interest Income Recognized | 0 | 0 | 0 | |
Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 37,671 | 40,667 | ||
Unpaid Principal Balance | 39,174 | 42,140 | ||
Related Allowance | 3,967 | 4,413 | ||
Average Recorded Investment | 39,169 | 34,779 | 39,227 | |
Interest Income Recognized | 234 | 113 | 994 | |
Impaired Loans With Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 215,041 | 227,041 | ||
Unpaid Principal Balance | 230,229 | 242,974 | ||
Related Allowance | 40,355 | 41,405 | ||
Average Recorded Investment | 221,043 | 244,143 | 237,748 | |
Interest Income Recognized | 1,499 | 1,354 | 5,785 | |
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 | 10,395 | 10,419 | ||
Unpaid Principal Balance | 16,612 | 16,636 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 10,407 | 9,224 | 12,009 | |
Interest Income Recognized | 0 | 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 | 31,392 | 34,334 | ||
Unpaid Principal Balance | 31,532 | 34,470 | ||
Related Allowance | 2,850 | 3,294 | ||
Average Recorded Investment | 32,863 | 24,921 | 30,836 | |
Interest Income Recognized | 215 | 87 | 902 | |
TRUPs [Member] | Impaired Loans With Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 3,183 | 3,209 | ||
Unpaid Principal Balance | 3,700 | 3,700 | ||
Related Allowance | 925 | 925 | ||
Average Recorded Investment | 3,196 | 3,323 | 3,274 | |
Interest Income Recognized | 0 | 0 | 0 | |
Income C R E [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | ||
Related Allowance | 0 | 0 | ||
Average Recorded Investment | 0 | 2,468 | 1,543 | |
Interest Income Recognized | 0 | 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 | 1,803 | 1,831 | ||
Unpaid Principal Balance | 2,181 | 2,209 | ||
Related Allowance | 61 | 62 | ||
Average Recorded Investment | 1,817 | 5,138 | 3,757 | |
Interest Income Recognized | 14 | 20 | 70 | |
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 | 1,293 | 1,293 | ||
Unpaid Principal Balance | 1,761 | 1,761 | ||
Related Allowance | 131 | 132 | ||
Average Recorded Investment | 1,293 | 1,397 | 1,360 | |
Interest Income Recognized | 5 | 6 | 22 | |
Home Equity [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | [1] | 10,724 | 11,383 | |
Unpaid Principal Balance | [1] | 22,020 | 21,662 | |
Related Allowance | [1] | 0 | 0 | |
Average Recorded Investment | [1] | 11,054 | 10,921 | 11,168 |
Interest Income Recognized | [1] | 0 | 0 | 0 |
Home Equity [Member] | Impaired Loans With Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 81,438 | 84,711 | ||
Unpaid Principal Balance | 83,888 | 87,126 | ||
Related Allowance | 16,641 | 15,927 | ||
Average Recorded Investment | 83,075 | 88,580 | 87,659 | |
Interest Income Recognized | 564 | 487 | 2,092 | |
R E Installment Loans [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | [1] | 3,916 | 3,957 | |
Unpaid Principal Balance | [1] | 4,987 | 4,992 | |
Related Allowance | [1] | 0 | 0 | |
Average Recorded Investment | [1] | 3,937 | 4,434 | 4,255 |
Interest Income Recognized | [1] | 0 | 0 | 0 |
R E Installment Loans [Member] | Impaired Loans With Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 50,394 | 53,409 | ||
Unpaid Principal Balance | 51,317 | 54,559 | ||
Related Allowance | 12,060 | 12,875 | ||
Average Recorded Investment | 51,902 | 59,971 | 57,906 | |
Interest Income Recognized | 318 | 317 | 1,370 | |
Permanent Mortgage Portfolio Segment [Member] | Impaired Loans With No Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | [1] | 5,803 | 5,311 | |
Unpaid Principal Balance | [1] | 8,607 | 7,899 | |
Related Allowance | [1] | 0 | 0 | |
Average Recorded Investment | [1] | 5,557 | 4,436 | 4,418 |
Interest Income Recognized | [1] | 0 | 0 | 0 |
Permanent Mortgage Portfolio Segment [Member] | Impaired Loans With Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 82,940 | 88,615 | ||
Unpaid Principal Balance | 94,755 | 100,983 | ||
Related Allowance | 11,532 | 12,470 | ||
Average Recorded Investment | 85,778 | 95,232 | 91,838 | |
Interest Income Recognized | 615 | 547 | 2,310 | |
Credit Card Other [Member] | Impaired Loans With Related Allowance Recorded [Member] | Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Recorded Investment | 269 | 306 | ||
Unpaid Principal Balance | 269 | 306 | ||
Related Allowance | 122 | 133 | ||
Average Recorded Investment | 288 | 360 | 345 | |
Interest Income Recognized | $ 2 | $ 3 | $ 13 | |
[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) $ in Thousands | Mar. 31, 2017USD ($)number | Dec. 31, 2016USD ($)number | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance for loan losses | $ 201,968 | $ 202,068 | $ 204,034 | $ 210,242 | |
Total loans collectively evaluated for impairment | 18,762,625 | 17,231,978 | |||
Total loans individually evaluated for impairment | 283,550 | 312,762 | |||
Allowance - collectively evaluated for impairment | 157,056 | 145,010 | |||
Allowance - individually evaluated for impairment | 44,322 | 57,876 | |||
Allowance - purchased credit impaired loans | 590 | $ 700 | 1,148 | ||
Purchase credit impaired loans - recorded investment | $ 43,899 | $ 30,254 | |||
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 | $ 123,995 | $ 123,250 | |||
Total loans collectively evaluated for impairment | 13,786,817 | 14,187,074 | |||
Total loans individually evaluated for impairment | 48,066 | 51,086 | |||
Total commercial loans | 13,877,307 | 14,283,610 | |||
Allowance - collectively evaluated for impairment | 119,788 | 118,518 | |||
Allowance - individually evaluated for impairment | 3,967 | 4,413 | |||
Allowance - purchased credit impaired loans | $ 240 | $ 319 | |||
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 | $ 42,424 | $ 45,450 | |||
Percent of loan purchased-credit impaired | 0.00% | 0.00% | |||
General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans collectively evaluated for impairment | $ 9,787,530 | $ 9,710,168 | |||
Total loans individually evaluated for impairment | 41,787 | 44,753 | |||
Total commercial loans | 9,867,595 | 9,795,453 | |||
Purchase credit impaired loans - recorded investment | 38,278 | 40,532 | |||
Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans collectively evaluated for impairment | 1,528,982 | 2,045,189 | |||
Total loans individually evaluated for impairment | 0 | 0 | |||
Total commercial loans | 1,528,982 | 2,045,189 | |||
Purchase credit impaired loans - recorded investment | 0 | 0 | |||
TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans collectively evaluated for impairment | [1] | 304,236 | 304,236 | ||
Total loans individually evaluated for impairment | [1] | 3,183 | 3,209 | ||
Total commercial loans | [1] | 307,419 | 307,445 | ||
Valuation allowance | $ 25,500 | $ 25,500 | |||
Highest internal grade | number | 13 | 13 | |||
Purchase credit impaired loans - recorded investment | [1] | $ 0 | $ 0 | ||
Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans collectively evaluated for impairment | 2,128,036 | 2,085,619 | |||
Total loans individually evaluated for impairment | 1,803 | 1,831 | |||
Total commercial loans | 2,133,891 | 2,092,033 | |||
Purchase credit impaired loans - recorded investment | 4,052 | 4,583 | |||
Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans collectively evaluated for impairment | 38,033 | 41,862 | |||
Total loans individually evaluated for impairment | 1,293 | 1,293 | |||
Total commercial loans | 39,420 | 43,490 | |||
Purchase credit impaired loans - recorded investment | 94 | 335 | |||
Commercial Loan P D Grade One [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 478,635 | $ 466,257 | |||
Percent of total commercial loans | 3.00% | 3.00% | |||
Allowance for loan losses | $ 78 | $ 77 | |||
Commercial Loan P D Grade One [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 478,025 | 465,179 | |||
Commercial Loan P D Grade One [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [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] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade One [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 610 | 1,078 | |||
Commercial Loan P D Grade One [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | |||
Commercial Loan P D Grade Two [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 902,824 | $ 803,012 | |||
Percent of total commercial loans | 7.00% | 6.00% | |||
Allowance for loan losses | $ 442 | $ 403 | |||
Commercial Loan P D Grade Two [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 891,450 | 791,183 | |||
Commercial Loan P D Grade Two [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [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] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Two [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 11,293 | 11,742 | |||
Commercial Loan P D Grade Two [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 81 | 87 | |||
Commercial Loan P D Grade Three [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 962,378 | $ 1,107,542 | |||
Percent of total commercial loans | 7.00% | 8.00% | |||
Allowance for loan losses | $ 239 | $ 304 | |||
Commercial Loan P D Grade Three [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 403,403 | 491,386 | |||
Commercial Loan P D Grade Three [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 398,860 | 462,486 | |||
Commercial Loan P D Grade Three [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Three [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 160,115 | 153,670 | |||
Commercial Loan P D Grade Three [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | |||
Commercial Loan P D Grade Four [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 1,467,562 | $ 1,532,811 | |||
Percent of total commercial loans | 11.00% | 11.00% | |||
Allowance for loan losses | $ 879 | $ 953 | |||
Commercial Loan P D Grade Four [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 998,015 | 978,282 | |||
Commercial Loan P D Grade Four [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 227,257 | 332,107 | |||
Commercial Loan P D Grade Four [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Four [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 242,069 | 222,422 | |||
Commercial Loan P D Grade Four [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 221 | 0 | |||
Commercial Loan P D Grade Five [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 1,835,298 | $ 1,873,965 | |||
Percent of total commercial loans | 13.00% | 13.00% | |||
Allowance for loan losses | $ 7,260 | $ 6,670 | |||
Commercial Loan P D Grade Five [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 1,269,384 | 1,232,401 | |||
Commercial Loan P D Grade Five [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 139,434 | 275,209 | |||
Commercial Loan P D Grade Five [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Five [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 426,147 | 365,653 | |||
Commercial Loan P D Grade Five [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 333 | 702 | |||
Commercial Loan P D Grade Six [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 2,432,971 | $ 2,502,310 | |||
Percent of total commercial loans | 17.00% | 17.00% | |||
Allowance for loan losses | $ 10,600 | $ 10,403 | |||
Commercial Loan P D Grade Six [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 1,535,573 | 1,540,519 | |||
Commercial Loan P D Grade Six [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 521,253 | 614,109 | |||
Commercial Loan P D Grade Six [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Six [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 368,073 | 338,344 | |||
Commercial Loan P D Grade Six [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 8,072 | 9,338 | |||
Commercial Loan P D Grade Seven [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 2,047,501 | $ 2,228,369 | |||
Percent of total commercial loans | 15.00% | 16.00% | |||
Allowance for loan losses | $ 12,767 | $ 14,010 | |||
Commercial Loan P D Grade Seven [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 1,479,242 | 1,556,117 | |||
Commercial Loan P D Grade Seven [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 169,444 | 317,283 | |||
Commercial Loan P D Grade Seven [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Seven [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 396,654 | 352,390 | |||
Commercial Loan P D Grade Seven [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 2,161 | 2,579 | |||
Commercial Loan P D Grade Eight [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 1,449,113 | $ 1,422,786 | |||
Percent of total commercial loans | 10.00% | 10.00% | |||
Allowance for loan losses | $ 24,532 | $ 25,986 | |||
Commercial Loan P D Grade Eight [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 1,042,772 | 963,359 | |||
Commercial Loan P D Grade Eight [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 49,588 | 30,974 | |||
Commercial Loan P D Grade Eight [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Eight [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 352,370 | 425,503 | |||
Commercial Loan P D Grade Eight [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 4,383 | 2,950 | |||
Commercial Loan P D Grade Nine [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 732,197 | $ 725,767 | |||
Percent of total commercial loans | 5.00% | 5.00% | |||
Allowance for loan losses | $ 14,396 | $ 13,857 | |||
Commercial Loan P D Grade Nine [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 641,463 | 611,774 | |||
Commercial Loan P D Grade Nine [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 4,643 | 4,299 | |||
Commercial Loan P D Grade Nine [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Nine [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 82,734 | 105,277 | |||
Commercial Loan P D Grade Nine [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 3,357 | 4,417 | |||
Commercial Loan P D Grade Ten [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 394,316 | $ 423,616 | |||
Percent of total commercial loans | 3.00% | 3.00% | |||
Allowance for loan losses | $ 8,510 | $ 8,400 | |||
Commercial Loan P D Grade Ten [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 344,633 | 355,359 | |||
Commercial Loan P D Grade Ten [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 4,499 | 8,663 | |||
Commercial Loan P D Grade Ten [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Ten [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 35,489 | 50,484 | |||
Commercial Loan P D Grade Ten [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 9,695 | 9,110 | |||
Commercial Loan P D Grade Eleven [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 251,213 | $ 265,371 | |||
Percent of total commercial loans | 2.00% | 2.00% | |||
Allowance for loan losses | $ 6,289 | $ 6,556 | |||
Commercial Loan P D Grade Eleven [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 228,258 | 238,230 | |||
Commercial Loan P D Grade Eleven [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | |||
Commercial Loan P D Grade Eleven [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Eleven [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 17,501 | 20,600 | |||
Commercial Loan P D Grade Eleven [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 5,454 | 6,541 | |||
Commercial Loan P D Grade Twelve [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 194,990 | $ 190,094 | |||
Percent of total commercial loans | 1.00% | 1.00% | |||
Allowance for loan losses | $ 6,862 | $ 6,377 | |||
Commercial Loan P D Grade Twelve [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 162,238 | 170,531 | |||
Commercial Loan P D Grade Twelve [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 13,956 | 0 | |||
Commercial Loan P D Grade Twelve [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Twelve [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 15,831 | 15,395 | |||
Commercial Loan P D Grade Twelve [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 2,965 | 4,168 | |||
Commercial Loan P D Grade Thirteen [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 424,963 | $ 432,571 | |||
Percent of total commercial loans | 3.00% | 3.00% | |||
Allowance for loan losses | $ 3,757 | $ 4,225 | |||
Commercial Loan P D Grade Thirteen [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 115,844 | 121,276 | |||
Commercial Loan P D Grade Thirteen [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [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] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 304,236 | 304,236 | ||
Commercial Loan P D Grade Thirteen [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 4,755 | 6,748 | |||
Commercial Loan P D Grade Thirteen [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 128 | 311 | |||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 212,856 | $ 212,603 | |||
Percent of total commercial loans | 2.00% | 1.00% | |||
Allowance for loan losses | $ 23,177 | $ 20,297 | |||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | General C I [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 197,230 | 194,572 | |||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Loans To Mortgage Companies [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 48 | 59 | |||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | TRUPs [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | [1] | 0 | 0 | ||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Income C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | 14,395 | 16,313 | |||
Commercial Loan P D Grade Fourteen Fifteen Sixteen [Member] | Residential C R E [Member] | Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan, Disaggregated by PD grade | $ 1,183 | $ 1,659 | |||
[1] | Balances as of March 31 , 2017 and December 31, 2016 , presented net of a $ 25.5 million valuation allowance . Based on the underlying structure of the notes , the highest possible internal grade is " 13 ". |
Loans (Loans by FICO Score, Con
Loans (Loans by FICO Score, Consumer) (Details) | Mar. 31, 2017 | Dec. 31, 2016 | |
HELOC [Member] | FICO score 740 or greater | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 57.60% | 56.90% | |
HELOC [Member] | FICO score 720-739 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 8.80% | 8.80% | |
HELOC [Member] | FICO score 700-719 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 8.20% | 8.60% | |
HELOC [Member] | FICO score 660-699 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 12.60% | 13.20% | |
HELOC [Member] | FICO score 620-659 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 5.70% | 5.60% | |
HELOC [Member] | FICO score less than 620 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | [1] | 7.10% | 6.90% |
HELOC [Member] | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 100.00% | 100.00% | |
R/E Installment Loans [Member] | FICO score 740 or greater | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 70.10% | 70.30% | |
R/E Installment Loans [Member] | FICO score 720-739 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 8.00% | 8.30% | |
R/E Installment Loans [Member] | FICO score 700-719 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 7.20% | 6.80% | |
R/E Installment Loans [Member] | FICO score 660-699 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 9.00% | 8.40% | |
R/E Installment Loans [Member] | FICO score 620-659 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 3.00% | 3.50% | |
R/E Installment Loans [Member] | FICO score less than 620 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | [1] | 2.70% | 2.70% |
R/E Installment Loans [Member] | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 100.00% | 100.00% | |
Permanent Mortgage Portfolio Segment | FICO score 740 or greater | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 45.50% | 45.00% | |
Permanent Mortgage Portfolio Segment | FICO score 720-739 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 8.70% | 9.50% | |
Permanent Mortgage Portfolio Segment | FICO score 700-719 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 9.50% | 9.20% | |
Permanent Mortgage Portfolio Segment | FICO score 660-699 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 16.80% | 17.10% | |
Permanent Mortgage Portfolio Segment | FICO score 620-659 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 8.90% | 9.10% | |
Permanent Mortgage Portfolio Segment | FICO score less than 620 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | [1] | 10.60% | 10.10% |
Permanent Mortgage Portfolio Segment | Total | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Average refreshed FICO score percentage | 100.00% | 100.00% | |
[1] | For this group, a majority of the loan balances had FICO scores at the time of the origination that exceeded 620 but have since deteriorated as the loans have seasoned . |
Loans (Accruing And Non-Accruin
Loans (Accruing And Non-Accruing Loans By Class) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | $ 19,090,074 | [1] | $ 19,589,520 | [1] | $ 17,574,994 |
Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 11,703,996 | 12,148,087 | 10,239,183 | ||
Consumer Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 4,456,811 | [2] | 4,523,752 | [2] | 4,690,230 |
Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 2,173,311 | 2,135,523 | 1,848,569 | ||
Permanent Mortgage Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 409,235 | 423,125 | 442,791 | ||
Credit Card And Other Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 346,721 | 359,033 | $ 354,221 | ||
General C I [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 9,829,317 | 9,754,921 | |||
Loans To Mortgage Companies [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 1,528,982 | 2,045,189 | |||
TRUPs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 307,419 | [3] | 307,445 | [4] | |
Income C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 2,129,839 | 2,087,450 | |||
Residential C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 39,326 | 43,155 | |||
Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 1,607,094 | 1,691,583 | |||
R E Installment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 2,848,295 | 2,830,593 | |||
Credit Card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 184,971 | 191,651 | |||
Other Consumer Loans Class | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 161,697 | 167,330 | |||
C&I Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 38,278 | 40,532 | |||
CRE Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 4,146 | 4,918 | |||
RE Installment Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 1,422 | 1,576 | |||
Other Purchased Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans, net of unearned income | 53 | 52 | |||
Accruing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 18,873,176 | 19,377,918 | |||
Total Accruing | 18,946,682 | 19,443,873 | |||
Accruing | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 51,095 | 42,570 | |||
Accruing | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 22,411 | 23,385 | |||
Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 11,652,903 | 12,105,988 | |||
Total Accruing | 11,673,310 | 12,115,351 | |||
Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 20,081 | 9,106 | |||
Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 326 | 257 | |||
Accruing | Consumer Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,337,033 | 4,398,825 | |||
Total Accruing | 4,375,469 | 4,440,940 | |||
Accruing | Consumer Real Estate Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 23,668 | 26,005 | |||
Accruing | Consumer Real Estate Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 14,768 | 16,110 | |||
Accruing | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,170,247 | 2,132,446 | |||
Total Accruing | 2,170,916 | 2,132,747 | |||
Accruing | Commercial Real Estate Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 669 | 301 | |||
Accruing | Commercial Real Estate Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Accruing | Permanent Mortgage Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 369,882 | 385,972 | |||
Total Accruing | 380,402 | 395,944 | |||
Accruing | Permanent Mortgage Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 4,802 | 4,544 | |||
Accruing | Permanent Mortgage Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 5,718 | 5,428 | |||
Accruing | Credit Card And Other Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 343,111 | 354,687 | |||
Total Accruing | 346,585 | 358,891 | |||
Accruing | Credit Card And Other Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,875 | 2,614 | |||
Accruing | Credit Card And Other Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,599 | 1,590 | |||
Accruing | General C I [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 9,781,688 | 9,720,231 | |||
Total Accruing | 9,801,862 | 9,725,453 | |||
Accruing | General C I [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 20,073 | 5,199 | |||
Accruing | General C I [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 101 | 23 | |||
Accruing | Loans To Mortgage Companies [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,528,934 | 2,041,408 | |||
Total Accruing | 1,528,934 | 2,045,130 | |||
Accruing | Loans To Mortgage Companies [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 3,722 | |||
Accruing | Loans To Mortgage Companies [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Accruing | TRUPs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 304,236 | [3] | 304,236 | [4] | |
Total Accruing | 304,236 | [3] | 304,236 | [4] | |
Accruing | TRUPs [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | [3] | 0 | [4] | |
Accruing | TRUPs [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | [3] | 0 | [4] | |
Accruing | Income C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,128,111 | 2,085,455 | |||
Total Accruing | 2,128,239 | 2,085,469 | |||
Accruing | Income C R E [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 128 | 14 | |||
Accruing | Income C R E [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Accruing | Residential C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 38,531 | 42,182 | |||
Total Accruing | 38,531 | 42,360 | |||
Accruing | Residential C R E [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 178 | |||
Accruing | Residential C R E [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Accruing | Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,521,042 | 1,602,640 | |||
Total Accruing | 1,547,901 | 1,631,496 | |||
Accruing | Home Equity [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 16,612 | 17,997 | |||
Accruing | Home Equity [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 10,247 | 10,859 | |||
Accruing | R E Installment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,814,663 | 2,794,866 | |||
Total Accruing | 2,826,146 | 2,807,868 | |||
Accruing | R E Installment Loans [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 7,056 | 7,844 | |||
Accruing | R E Installment Loans [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 4,427 | 5,158 | |||
Accruing | Credit Card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 182,129 | 188,573 | |||
Total Accruing | 184,971 | 191,651 | |||
Accruing | Credit Card | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,393 | 1,622 | |||
Accruing | Credit Card | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,449 | 1,456 | |||
Accruing | Other Consumer Loans Class | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 160,929 | 166,062 | |||
Total Accruing | 161,561 | 167,188 | |||
Accruing | Other Consumer Loans Class | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 482 | 992 | |||
Accruing | Other Consumer Loans Class | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 150 | 134 | |||
Accruing | C&I Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 38,045 | 40,113 | |||
Total Accruing | 38,278 | 40,532 | |||
Accruing | C&I Purchase Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 8 | 185 | |||
Accruing | C&I Purchase Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 225 | 234 | |||
Accruing | CRE Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 3,605 | 4,809 | |||
Total Accruing | 4,146 | 4,918 | |||
Accruing | CRE Purchase Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 541 | 109 | |||
Accruing | CRE Purchase Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Accruing | RE Installment Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,328 | 1,319 | |||
Total Accruing | 1,422 | 1,576 | |||
Accruing | RE Installment Purchase Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 164 | |||
Accruing | RE Installment Purchase Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 94 | 93 | |||
Accruing | Other Purchased Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 53 | 52 | |||
Total Accruing | 53 | 52 | |||
Accruing | Other Purchased Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Accruing | Other Purchased Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 92,915 | 93,158 | |||
Total Non-Accruing | 143,392 | 145,647 | |||
Non-Accruing | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 7,299 | 9,612 | |||
Non-Accruing | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 43,178 | 42,877 | |||
Non-Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 14,511 | 16,106 | |||
Total Non-Accruing | 30,686 | 32,736 | |||
Non-Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 113 | 374 | |||
Non-Accruing | Commercial Financial And Industrial Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 16,062 | 16,256 | |||
Non-Accruing | Consumer Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 64,138 | 64,953 | |||
Total Non-Accruing | 81,342 | 82,812 | |||
Non-Accruing | Consumer Real Estate Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 6,180 | 6,584 | |||
Non-Accruing | Consumer Real Estate Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 11,024 | 11,275 | |||
Non-Accruing | Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 100 | 232 | |||
Total Non-Accruing | 2,395 | 2,776 | |||
Non-Accruing | Commercial Real Estate Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 460 | |||
Non-Accruing | Commercial Real Estate Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 2,295 | 2,084 | |||
Non-Accruing | Permanent Mortgage Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 14,166 | 11,867 | |||
Total Non-Accruing | 28,833 | 27,181 | |||
Non-Accruing | Permanent Mortgage Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,006 | 2,194 | |||
Non-Accruing | Permanent Mortgage Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 13,661 | 13,120 | |||
Non-Accruing | Credit Card And Other Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 136 | 142 | |||
Non-Accruing | Credit Card And Other Portfolio Segment [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Credit Card And Other Portfolio Segment [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 136 | 142 | |||
Non-Accruing | General C I [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 14,511 | 16,106 | |||
Total Non-Accruing | 27,455 | 29,468 | |||
Non-Accruing | General C I [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 113 | 374 | |||
Non-Accruing | General C I [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 12,831 | 12,988 | |||
Non-Accruing | Loans To Mortgage Companies [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 48 | 59 | |||
Non-Accruing | Loans To Mortgage Companies [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Loans To Mortgage Companies [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 48 | 59 | |||
Non-Accruing | TRUPs [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | [3] | 0 | [4] | |
Total Non-Accruing | 3,183 | [3] | 3,209 | [4] | |
Non-Accruing | TRUPs [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | [3] | 0 | [4] | |
Non-Accruing | TRUPs [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 3,183 | [3] | 3,209 | [4] | |
Non-Accruing | Income C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 100 | 232 | |||
Total Non-Accruing | 1,600 | 1,981 | |||
Non-Accruing | Income C R E [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 460 | |||
Non-Accruing | Income C R E [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,500 | 1,289 | |||
Non-Accruing | Residential C R E [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 795 | 795 | |||
Non-Accruing | Residential C R E [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Residential C R E [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 795 | 795 | |||
Non-Accruing | Home Equity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 46,661 | 46,964 | |||
Total Non-Accruing | 59,193 | 60,087 | |||
Non-Accruing | Home Equity [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 4,187 | 4,201 | |||
Non-Accruing | Home Equity [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 8,345 | 8,922 | |||
Non-Accruing | R E Installment Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 17,477 | 17,989 | |||
Total Non-Accruing | 22,149 | 22,725 | |||
Non-Accruing | R E Installment Loans [Member] | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 1,993 | 2,383 | |||
Non-Accruing | R E Installment Loans [Member] | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 2,679 | 2,353 | |||
Non-Accruing | Credit Card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 0 | 0 | |||
Non-Accruing | Credit Card | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Credit Card | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Other Consumer Loans Class | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 136 | 142 | |||
Non-Accruing | Other Consumer Loans Class | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Other Consumer Loans Class | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 136 | 142 | |||
Non-Accruing | C&I Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 0 | 0 | |||
Non-Accruing | C&I Purchase Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | C&I Purchase Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | CRE Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 0 | 0 | |||
Non-Accruing | CRE Purchase Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | CRE Purchase Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | RE Installment Purchase Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 0 | 0 | |||
Non-Accruing | RE Installment Purchase Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | RE Installment Purchase Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Other Purchased Credit Impaired Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non-Accruing | 0 | 0 | |||
Non-Accruing | Other Purchased Credit Impaired Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | 0 | 0 | |||
Non-Accruing | Other Purchased Credit Impaired Loans | 90+ Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past due | $ 0 | $ 0 | |||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | ||||
[2] | Balances as of March 3 1 , 201 7 and December 31, 201 6 , include $ 32 . 5 million and $ 35 . 9 million of restricted real estate loans, respectively. See Note 13 - Variable Interest Entities for additional information. | ||||
[3] | TRUPS is presented net of the valuation allowance of $25.5 million . | ||||
[4] | TRUPS is presented net of the valuation allowance of $25.5 million. |
Loans (Schedule Of Troubled Deb
Loans (Schedule Of Troubled Debt Restructurings Occurring During The Year) (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)number | Mar. 31, 2016USD ($)number | |
General C I [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 27 | $ 708 |
Post-Modification Outstanding Recorded Investment | $ 37 | $ 708 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 27 | $ 708 |
Post-Modification Outstanding Recorded Investment | $ 37 | $ 708 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 35 | 99 |
Pre-Modification Outstanding Recorded Investment | $ 2,589 | $ 7,440 |
Post-Modification Outstanding Recorded Investment | $ 2,473 | $ 7,370 |
R E Installment Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 14 | 15 |
Pre-Modification Outstanding Recorded Investment | $ 957 | $ 898 |
Post-Modification Outstanding Recorded Investment | $ 902 | $ 895 |
Consumer Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 49 | 114 |
Pre-Modification Outstanding Recorded Investment | $ 3,546 | $ 8,338 |
Post-Modification Outstanding Recorded Investment | $ 3,375 | $ 8,265 |
Permanent Mortgage Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 5 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 1,310 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 1,303 | $ 0 |
Credit Card And Other Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 6 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 21 | $ 19 |
Post-Modification Outstanding Recorded Investment | $ 20 | $ 18 |
Troubled Debt Restructurings [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 61 | 119 |
Pre-Modification Outstanding Recorded Investment | $ 4,904 | $ 9,065 |
Post-Modification Outstanding Recorded Investment | $ 4,735 | $ 8,991 |
Loans (Schedule Of Troubled D55
Loans (Schedule Of Troubled Debt Restructurings Within The Previous 12 Months) (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)number | Mar. 31, 2016USD ($)number | |
General C I [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 1 | 0 |
Recorded Investment | $ | $ 5,779 | $ 0 |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 4 | 1 |
Recorded Investment | $ | $ 685 | $ 36 |
Commercial Financial And Industrial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 1 | 0 |
Recorded Investment | $ | $ 5,779 | $ 0 |
Consumer Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 4 | 1 |
Recorded Investment | $ | $ 685 | $ 36 |
Credit Card And Other Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 2 | 0 |
Recorded Investment | $ | $ 7 | $ 0 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | number | 7 | 1 |
Recorded Investment | $ | $ 6,471 | $ 36 |
Allowance For Loan Losses (Roll
Allowance For Loan Losses (Rollforward Of The Allowance For Loan Losses By Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning Balance | $ 202,068 | $ 210,242 | |||
Charge-offs | (8,413) | (17,612) | |||
Recoveries | 9,313 | 8,404 | |||
Provision for loan losses | (1,000) | 3,000 | |||
Ending Balance | 201,968 | 204,034 | |||
Allowance - individually evaluated for impairment | 44,322 | 57,876 | |||
Allowance - collectively evaluated for impairment | 157,056 | 145,010 | |||
Allowance - purchased credit impaired loans | 590 | 1,148 | $ 700 | ||
Individually evaluated for impairment | 283,550 | 312,762 | |||
Collectively evaluated for impairment | 18,762,625 | 17,231,978 | |||
Purchase credit impaired loans - recorded investment | 43,899 | 30,254 | |||
Loans, net of unearned income | 19,090,074 | [1] | 17,574,994 | 19,589,520 | [1] |
Commercial Financial And Industrial Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning Balance | 89,398 | 73,637 | |||
Charge-offs | (600) | (6,525) | |||
Recoveries | 1,676 | 780 | |||
Provision for loan losses | 2,633 | 12,995 | |||
Ending Balance | 93,107 | 80,887 | |||
Allowance - individually evaluated for impairment | 3,775 | 9,148 | |||
Allowance - collectively evaluated for impairment | 89,142 | 71,615 | |||
Allowance - purchased credit impaired loans | 190 | 124 | |||
Individually evaluated for impairment | 44,970 | 44,465 | |||
Collectively evaluated for impairment | 11,620,748 | 10,181,677 | |||
Purchase credit impaired loans - recorded investment | 38,278 | 13,041 | |||
Loans, net of unearned income | 11,703,996 | 10,239,183 | 12,148,087 | ||
Commercial Real Estate Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning Balance | 33,852 | 25,159 | |||
Charge-offs | 0 | (642) | |||
Recoveries | 221 | 222 | |||
Provision for loan losses | (3,185) | 887 | |||
Ending Balance | 30,888 | 25,626 | |||
Allowance - individually evaluated for impairment | 192 | 488 | |||
Allowance - collectively evaluated for impairment | 30,646 | 24,840 | |||
Allowance - purchased credit impaired loans | 50 | 298 | |||
Individually evaluated for impairment | 3,096 | 8,950 | |||
Collectively evaluated for impairment | 2,166,069 | 1,826,677 | |||
Purchase credit impaired loans - recorded investment | 4,146 | 12,942 | |||
Loans, net of unearned income | 2,173,311 | 1,848,569 | 2,135,523 | ||
Consumer Real Estate Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning Balance | 50,357 | 80,614 | |||
Charge-offs | (3,849) | (6,926) | |||
Recoveries | 5,676 | 5,735 | |||
Provision for loan losses | (2,504) | (12,102) | |||
Ending Balance | 49,680 | 67,321 | |||
Allowance - individually evaluated for impairment | 28,701 | 31,119 | |||
Allowance - collectively evaluated for impairment | 20,629 | 35,477 | |||
Allowance - purchased credit impaired loans | 350 | 725 | |||
Individually evaluated for impairment | 146,472 | 162,128 | |||
Collectively evaluated for impairment | 4,308,917 | 4,523,885 | |||
Purchase credit impaired loans - recorded investment | 1,422 | 4,217 | |||
Loans, net of unearned income | 4,456,811 | [2] | 4,690,230 | 4,523,752 | [2] |
Permanent Mortgage Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning Balance | 16,289 | 18,947 | |||
Charge-offs | (483) | (112) | |||
Recoveries | 903 | 779 | |||
Provision for loan losses | (816) | (860) | |||
Ending Balance | 15,893 | 18,754 | |||
Allowance - individually evaluated for impairment | 11,532 | 16,975 | |||
Allowance - collectively evaluated for impairment | 4,361 | 1,779 | |||
Allowance - purchased credit impaired loans | 0 | 0 | |||
Individually evaluated for impairment | 88,743 | 96,874 | |||
Collectively evaluated for impairment | 320,492 | 345,917 | |||
Purchase credit impaired loans - recorded investment | 0 | 0 | |||
Loans, net of unearned income | 409,235 | 442,791 | 423,125 | ||
Credit Card & Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning Balance | 12,172 | 11,885 | |||
Charge-offs | (3,481) | (3,407) | |||
Recoveries | 837 | 888 | |||
Provision for loan losses | 2,872 | 2,080 | |||
Ending Balance | 12,400 | 11,446 | |||
Allowance - individually evaluated for impairment | 122 | 146 | |||
Allowance - collectively evaluated for impairment | 12,278 | 11,299 | |||
Allowance - purchased credit impaired loans | 0 | 1 | |||
Individually evaluated for impairment | 269 | 345 | |||
Collectively evaluated for impairment | 346,399 | 353,822 | |||
Purchase credit impaired loans - recorded investment | 53 | 54 | |||
Loans, net of unearned income | $ 346,721 | $ 354,221 | $ 359,033 | ||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | ||||
[2] | Balances as of March 3 1 , 201 7 and December 31, 201 6 , include $ 32 . 5 million and $ 35 . 9 million of restricted real estate loans, respectively. See Note 13 - Variable Interest Entities for additional information. |
Intangible Assets (Narrative) (
Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Amortization expense | $ 1,200 | $ 1,300 | ||
Goodwill [Line Items] | ||||
Goodwill | 191,371 | $ 191,307 | $ 191,371 | $ 191,307 |
Non Strategic [Member] | ||||
Goodwill [Line Items] | ||||
Gross goodwill | 200,000 | 200,000 | ||
Accumulated impairments | 114,100 | 114,100 | ||
Accumulated divestiture related write-offs | 85,900 | 85,900 | ||
Goodwill | $ 0 | $ 0 |
Intangible Assets (Schedule Of
Intangible Assets (Schedule Of Estimated Aggregate Amortization Expense for Intangible Assets) (Details) $ in Thousands | Mar. 31, 2017USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Remainder of 2017 | $ 3,683 |
2,018 | 4,679 |
2,019 | 4,453 |
2,020 | 1,659 |
2,021 | 1,574 |
2,022 | $ 1,450 |
Intangible Assets (Summary Of I
Intangible Assets (Summary Of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Intangible Assets [Line Items] | |||
Gross Carrying Amount | $ 72,037 | $ 72,270 | |
Accumulated Amortization | (52,252) | (51,253) | |
Net Carrying Value | 19,785 | 21,017 | |
Core deposit intangibles | |||
Intangible Assets [Line Items] | |||
Gross Carrying Amount | 16,850 | 16,850 | |
Accumulated Amortization | (5,199) | (4,721) | |
Net Carrying Value | 11,651 | 12,129 | |
Customer lists | |||
Intangible Assets [Line Items] | |||
Gross Carrying Amount | 54,865 | 54,865 | |
Accumulated Amortization | (47,053) | (46,302) | |
Net Carrying Value | 7,812 | 8,563 | |
Other | |||
Intangible Assets [Line Items] | |||
Gross Carrying Amount | [1] | 322 | 555 |
Accumulated Amortization | [1] | 0 | (230) |
Net Carrying Value | [1] | $ 322 | $ 325 |
[1] | Balance at March 31, 2017 relates to state banking licenses and are not subject to amortization . |
Intangible Assets (Summary Of G
Intangible Assets (Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Goodwill [Line Items] | ||
Goodwill, Beginning balance | $ 191,371 | $ 191,307 |
Additions | 0 | 0 |
Goodwill, Ending balance | 191,371 | 191,307 |
Regional Banking [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning balance | 93,367 | 93,303 |
Additions | 0 | 0 |
Goodwill, Ending balance | 93,367 | 93,303 |
Fixed Income [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning balance | 98,004 | 98,004 |
Additions | 0 | 0 |
Goodwill, Ending balance | $ 98,004 | $ 98,004 |
Other Income And Other Expens61
Other Income And Other Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
All other income and commissions: | ||
Other service charges | $ 2,984 | $ 2,713 |
ATM interchange fees | 2,778 | 2,958 |
Deferred compensation | 1,827 | 329 |
Electronic banking fees | 1,323 | 1,397 |
Mortgage banking | 1,261 | 1,273 |
Letter of credit fees | 1,036 | 1,061 |
Insurance commissions | 883 | 487 |
Other | 2,299 | 3,071 |
Total | 14,391 | 13,289 |
All other expense: | ||
Other insurance and taxes | 2,390 | 3,313 |
Travel and entertainment | 2,348 | 2,062 |
Employee training and dues | 1,543 | 1,390 |
Customer relations | 1,336 | 1,879 |
Tax credit investments | 942 | 706 |
Supplies | 863 | 1,026 |
Miscellaneous loan costs | 622 | 717 |
Foreclosed real estate | 204 | (258) |
Litigation and regulatory matters | (292) | (475) |
Other | 8,831 | 11,719 |
Total | $ 18,787 | $ 22,079 |
Components of Other Comprehen62
Components of Other Comprehensive Income/(loss) (Schedule of Changes in AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | $ (247,654) | $ (214,192) | |
Net unrealized gains/(losses) | (2,598) | 44,019 | |
Amounts reclassifed from AOCI | 294 | (268) | |
Other comprehensive income/(loss) | [1] | (2,304) | 43,751 |
Ending Balance | (249,958) | (170,441) | |
Securities AFS | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (17,232) | 3,394 | |
Net unrealized gains/(losses) | (1,536) | 40,180 | |
Amounts reclassifed from AOCI | (27) | (1,020) | |
Other comprehensive income/(loss) | (1,563) | 39,160 | |
Ending Balance | (18,795) | 42,554 | |
Cash Flow Hedges | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (1,265) | 0 | |
Net unrealized gains/(losses) | (1,062) | 3,839 | |
Amounts reclassifed from AOCI | (852) | (374) | |
Other comprehensive income/(loss) | (1,914) | 3,465 | |
Ending Balance | (3,179) | 3,465 | |
Pension and Postretirement Plans | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (229,157) | (217,586) | |
Net unrealized gains/(losses) | 0 | 0 | |
Amounts reclassifed from AOCI | 1,173 | 1,126 | |
Other comprehensive income/(loss) | 1,173 | 1,126 | |
Ending Balance | $ (227,984) | $ (216,460) | |
[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. |
Components of Other Comprehen63
Components of Other Comprehensive Income/(loss) (Schedule of Reclassification from AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Amounts reclassifed from AOCI | $ 294 | $ (268) |
Securities AFS | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Realized gains/(losses) | (44) | (1,654) |
Tax expense/(benefit) | 17 | 634 |
Amounts reclassifed from AOCI | (27) | (1,020) |
Cash Flow Hedges | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Realized gains/(losses) | (1,380) | (606) |
Tax expense/(benefit) | 528 | 232 |
Amounts reclassifed from AOCI | (852) | (374) |
Pension and Postretirement Plans | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Realized gains/(losses) | 1,900 | 1,826 |
Tax expense/(benefit) | (727) | (700) |
Amounts reclassifed from AOCI | $ 1,173 | $ 1,126 |
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 ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Net income/(loss) | $ 58,388 | $ 52,213 |
Net income attributable to noncontrolling interest | 2,820 | 2,851 |
Net income/(loss) attributable to controlling interest | 55,568 | 49,362 |
Preferred stock dividends | 1,550 | 1,550 |
Net income/(loss) available to common shareholders | $ 54,018 | $ 47,812 |
Weighted average common shares outstanding - basic | 233,076 | 234,651 |
Effect of dilutive securities | 3,779 | 2,015 |
Weighted average common shares outstanding - diluted | 236,855 | 236,666 |
Net income/(loss) per share available to common shareholders | $ 0.23 | $ 0.2 |
Diluted income/(loss) per share available to common shareholders | $ 0.23 | $ 0.2 |
Earnings Per Share (Schedule 65
Earnings Per Share (Schedule Of Anti-Dilutive Options and Awards) (Details) - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Stock options excluded from the calculation of diluted EPS | 2,453 | 4,119 |
Weighted average exercise price of stock options excluded from the calculation of diluted EPS | $ 26.08 | $ 22.45 |
Other equity awards excluded from the calculation of diluted EPS | 99 | 1,124 |
Contingencies And Other Discl66
Contingencies And Other Disclosures (Narrative I) (Details) shares in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2017USD ($)numbershares | Jun. 30, 2015USD ($) | Dec. 31, 2008USD ($) | Dec. 31, 2007USD ($) | Dec. 31, 2016USD ($) | Mar. 31, 2008shares | |
Loss Contingencies [Line Items] | ||||||
Estimated Litigation Liability | $ 1,600,000 | |||||
Number of GSEs to which conventional conforming single-family mortgage loans were predominately sold to | number | 2 | |||||
Loan-to-value ratio at origination | 80.00% | |||||
Accrued losses on loan repurchase exposure | $ 65,500,000 | $ 66,000,000 | ||||
Mortgage loans originated and sold to agencies | $ 69,500,000,000 | |||||
Loans sold to GSEs | 57,600,000,000 | |||||
Loans Guaranteed By Ginnie Mae | $ 11,900,000,000 | |||||
Loans included in FH proprietary securitizations | $ 26,700,000,000 | |||||
Fha Insured [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Amount Of Insurance Recoveries Company Is Pursuing | 75,000,000 | |||||
Litigation Settlement Expense | $ 212,500,000 | |||||
Mortgage Securitization Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Investment in proprietary securitizations subject to lawsuits | 83,400,000 | |||||
Investment in proprietary securitizations subject to indemnifications | $ 409,900,000 | |||||
Visa Class B Shares [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of Visa Class B shares | shares | 1.1 | 2.4 | ||||
Estimated conversion ratio | 165.00% | |||||
Contingent liability | $ 800,000 | |||||
Derivative liability | 6,000,000 | $ 6,200,000 | ||||
Historical cost | 0 | |||||
Value of holdings of Visa Class B Shares if converted into Class A shares at the current conversion ratio | 163,000,000 | |||||
Subservicer expenditure reimbursement amount disputed | ||||||
Loss Contingencies [Line Items] | ||||||
Actual damages sought by plaintiff | 43,500,000 | |||||
Minimum | ||||||
Loss Contingencies [Line Items] | ||||||
Estimated reasonably possible losses in excess of currently established liabilities | 0 | |||||
Maximum | ||||||
Loss Contingencies [Line Items] | ||||||
Estimated reasonably possible losses in excess of currently established liabilities | $ 52,000,000 |
Pension, Savings, And Other E67
Pension, Savings, And Other Employee Benefits (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2017 | Sep. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Estimated social security benefits age | 65 years | ||||
Contributions to qualified plans | $ 0 | $ 165,000 | $ 0 | ||
Non-Qualified Plans [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Contributions to qualified plans | $ 5,100 | ||||
Expected pension contribution | $ 5,000 | ||||
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 E68
Pension, Savings, And Other Employee Benefits (Schedule Of Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Pension Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | $ 9 | $ 10 |
Interest cost | 7,379 | 7,882 |
Expected return on plan assets | (8,891) | (9,773) |
Amortization of unrecognized, Prior service cost/(credit) | 13 | 49 |
Amortization of unrecognized, Actuarial (gain)/loss | 2,380 | 2,068 |
Net periodic benefit cost/(credit) | 890 | 236 |
Other Postretirement Benefit Plans Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 27 | 28 |
Interest cost | 326 | 317 |
Expected return on plan assets | (237) | (229) |
Amortization of unrecognized, Prior service cost/(credit) | 24 | 43 |
Amortization of unrecognized, Actuarial (gain)/loss | (142) | (233) |
Net periodic benefit cost/(credit) | $ (2) | $ (74) |
Business Segment Information (A
Business Segment Information (Amounts Of Consolidated Revenue, Expense, Tax And Assets) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Net interest income | $ 189,708 | $ 172,074 |
Provision/(provision credit) for loan losses | (1,000) | 3,000 |
Noninterest income | 116,939 | 134,305 |
Noninterest expense | 222,205 | 226,927 |
Income/(loss) before income taxes | 85,442 | 76,452 |
Provision/(benefit) for income taxes | 27,054 | 24,239 |
Net income/(loss) | 58,388 | 52,213 |
Average assets | 28,806,106 | 26,618,694 |
Regional Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 193,389 | 172,312 |
Provision/(provision credit) for loan losses | 3,098 | 14,767 |
Noninterest income | 58,976 | 59,276 |
Noninterest expense | 148,065 | 145,399 |
Income/(loss) before income taxes | 101,202 | 71,422 |
Provision/(benefit) for income taxes | 36,623 | 25,407 |
Net income/(loss) | 64,579 | 46,015 |
Average assets | 17,955,319 | 15,945,192 |
Fixed Income [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 1,151 | 2,667 |
Noninterest income | 50,822 | 67,122 |
Noninterest expense | 48,685 | 58,623 |
Income/(loss) before income taxes | 3,288 | 11,166 |
Provision/(benefit) for income taxes | 1,024 | 3,892 |
Net income/(loss) | 2,264 | 7,274 |
Average assets | 1,875,708 | 2,269,678 |
Corporate [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | (14,100) | (14,363) |
Noninterest income | 5,476 | 5,723 |
Noninterest expense | 16,880 | 13,461 |
Income/(loss) before income taxes | (25,504) | (22,101) |
Provision/(benefit) for income taxes | (13,093) | (11,246) |
Net income/(loss) | (12,411) | (10,855) |
Average assets | 7,359,015 | 6,362,224 |
Non Strategic [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 9,268 | 11,458 |
Provision/(provision credit) for loan losses | (4,098) | (11,767) |
Noninterest income | 1,665 | 2,184 |
Noninterest expense | 8,575 | 9,444 |
Income/(loss) before income taxes | 6,456 | 15,965 |
Provision/(benefit) for income taxes | 2,500 | 6,186 |
Net income/(loss) | 3,956 | 9,779 |
Average assets | $ 1,616,064 | $ 2,041,600 |
Variable Interest Entities (Sum
Variable Interest Entities (Summary Of VIE Consolidated By FHN) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | ||
Assets: | ||||||
Cash and due from banks | $ 369,290 | $ 373,274 | ||||
Loans, net of unearned income | 19,090,074 | [1] | 19,589,520 | [1] | $ 17,574,994 | |
Allowance for loan losses | 201,968 | 202,068 | $ 204,034 | $ 210,242 | ||
Total net loans | 18,888,106 | 19,387,452 | ||||
Other assets | 1,378,260 | 1,406,711 | ||||
Total assets | 29,618,600 | 28,555,231 | ||||
Liabilities: | ||||||
Term borrowings | 1,035,036 | 1,040,656 | ||||
Other liabilities | 401,997 | 467,944 | ||||
Total liabilities | 26,878,140 | 25,850,147 | ||||
On Balance Sheet Consumer Loan Securitizations [Member] | ||||||
Assets: | ||||||
Cash and due from banks | 0 | 0 | ||||
Loans, net of unearned income | 32,486 | 35,873 | ||||
Allowance for loan losses | 244 | 587 | ||||
Total net loans | 32,242 | 35,286 | ||||
Other assets | 150 | 283 | ||||
Total assets | 32,392 | 35,569 | ||||
Liabilities: | ||||||
Term borrowings | 19,819 | 23,126 | ||||
Other liabilities | 3 | 3 | ||||
Total liabilities | 19,822 | 23,129 | ||||
Rabbi Trusts Used For Deferred Compensation Plans [Member] | ||||||
Assets: | ||||||
Other assets | 76,149 | 74,160 | ||||
Total assets | 76,149 | 74,160 | ||||
Liabilities: | ||||||
Other liabilities | 57,559 | 54,746 | ||||
Total liabilities | $ 57,559 | $ 54,746 | ||||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. |
Variable Interest Entities (S71
Variable Interest Entities (Summary of the Impact of Qualifying LIHTC Investments) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Low income housing tax credits [Member] | ||
Variable Interest Entity [Line Items] | ||
Amortization of qualifying LIHTC investments | $ 2,278 | $ 2,298 |
Affordable Housing Tax Credits and Other Tax Benefits | (2,400) | (2,523) |
Other tax benefits related to qualifying LIHTC investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Affordable Housing Tax Credits and Other Tax Benefits | $ (919) | $ (1,110) |
Variable Interest Entities (S72
Variable Interest Entities (Summary Of VIE Not Consolidated By FHN) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |||
Variable Interest Entity [Line Items] | ||||||
Loans, net of unearned income | $ 19,090,074 | [1] | $ 19,589,520 | [1] | $ 17,574,994 | |
Term borrowings | 1,035,036 | 1,040,656 | ||||
Trading securities | 1,167,310 | 897,071 | ||||
Securities available for sale, Fair Value | 3,939,278 | [2] | 3,943,499 | [3] | ||
Low Income Housing Partnerships [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | 71,114 | [4] | 73,582 | [5] | ||
Maximum loss exposure, contractual funding commitments | 14,700 | 17,400 | ||||
Liability Recognized | 14,749 | [4] | 17,398 | [5] | ||
Low Income Housing Partnerships [Member] | Other Assets [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum loss exposure, current investments | 56,400 | 56,200 | ||||
Other Tax Credit Investments [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | [6],[7] | 21,210 | 21,898 | |||
Liability Recognized | [6],[7] | 0 | 0 | |||
Other Tax Credit Investments [Member] | Other Assets [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum loss exposure, current investments | 18,000 | 18,000 | ||||
Small Issuer Trust Preferred Holdings [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | [8] | 332,959 | 332,985 | |||
Liability Recognized | [8] | 0 | 0 | |||
On Balance Sheet Trust Preferred Securitization [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | 49,361 | [9] | 49,361 | [10] | ||
Liability Recognized | 64,812 | [9] | 64,812 | [10] | ||
Loans, net of unearned income | 112,500 | 112,500 | ||||
Term borrowings | 64,800 | 64,800 | ||||
Trading securities | 1,700 | 1,700 | ||||
Proprietary & Agency Residential Mortgage Securitizations [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | 2,330 | 2,568 | ||||
Liability Recognized | 0 | 0 | ||||
Holdings Of Agency Mortgage Backed Securities [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | [8] | 4,289,239 | [11] | 4,163,313 | [12] | |
Liability Recognized | [8] | 0 | [11] | 0 | [12] | |
Trading securities | 500,000 | 400,000 | ||||
Securities available for sale, Fair Value | 3,800,000 | 3,800,000 | ||||
Commercial Loan Troubled Debt Restructurings [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | 35,295 | [13] | 42,696 | [14] | ||
Maximum loss exposure, contractual funding commitments | 800 | 5,200 | ||||
Liability Recognized | 0 | [13] | 0 | [14] | ||
Loans, net of unearned income | 34,500 | 37,500 | ||||
Sale Leaseback Transaction [Member] | ||||||
Variable Interest Entity [Line Items] | ||||||
Maximum Loss Exposure | 14,827 | [15] | 11,827 | [16] | ||
Liability Recognized | $ 0 | [15] | $ 0 | [16] | ||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | |||||
[2] | Includes $ 3 . 5 billion 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 repu rchase, and for other purposes . | |||||
[4] | Maximum loss exposure represents $ 56 . 4 million of current investments and $ 14 . 7 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 2017 . | |||||
[5] | Maximum loss exposure represents $ 56.2 million of current investments and $ 17.4 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 2017 . | |||||
[6] | A lia bility is not recognized as investments are written down over the life of the related tax credit | |||||
[7] | Maximum loss exposure represe nts current investment balance. Of the initial investment, $ 18 . 0 million was funded through loans from community development enterprises | |||||
[8] | Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a ho lder of the trusts’ securities. | |||||
[9] | Includes $ 112 . 5 million classified as Loans, net of unearned income, and $ 1 . 7 million classified as Trading securities which are offset by $ 64.8 million classified as Term borrowings. | |||||
[10] | Includes $ 112.5 million classified as Loans, net of unearned income, and $ 1.7 million classified as Trading securities which are offset by $ 64 . 8 million classified as Term borrowings. | |||||
[11] | Includes $ .5 b illion classified as Trading securities and $ 3 . 8 billion cla ssified as Securities available-for- sale. | |||||
[12] | Includes $ . 4 b illion classified as Tradi ng securities and $ 3 . 8 billion cla ssified as Securities available-for- sale. | |||||
[13] | Ma ximum loss exposure represents $ 34.5 million of current receivables and $ .8 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring | |||||
[14] | Maximum loss exposure represents $ 37.5 million of current receivables and $ 5.2 million of contractual funding commitments on loans related to commercial borrowers involved in a tro ubled debt restructuring . | |||||
[15] | Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. | |||||
[16] | Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor . |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Collateral cash receivables | $ 41,900 | $ 47,800 | |
Collateral cash payables | 29,400 | 32,800 | |
Total trading revenues | 42,700 | $ 57,600 | |
Other Long-term Debt | 1,035,036 | 1,040,656 | |
Hedged amount of foreign currency denominated loans | $ 1,900 | 3,800 | |
Cash flow hedge length of time | 5 years | ||
Maximum [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Cash flow hedge length of time | 7 years | ||
Minimum [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Cash flow hedge length of time | 3 years | ||
Cash Flow Hedge | Hedged Items [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Variability in Cash Flows Related to Debt Instruments (Primarily Loans) | $ 650,000 | $ 250,000 | |
Visa Class B Shares [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative liabilities related to sale | 6,000 | 6,200 | |
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 | 500 | ||
Net fair value of interest rate derivatives hedging subordinated debt | 7,300 | ||
Other Long-term Debt | 500,000 | 500,000 | |
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 | 300 | 1,600 | |
Other Long-term Debt | 400,000 | 400,000 | |
Additional Derivative Agreements [Member] | Derivative Instruments With Accelerated Termination Provisions [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Collateral received | 120,600 | 137,500 | |
Securities posted collateral | 10,000 | 12,900 | |
Net fair value of derivative assets with adjustable posting thresholds | 30,700 | 35,900 | |
Net fair value of derivative liabilities with adjustable posting thresholds | 19,200 | 19,600 | |
Additional Derivative Agreements [Member] | Derivative Instruments With Adjustable Collateral Posting Thresholds [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Collateral received | 121,200 | 137,600 | |
Securities posted collateral | 33,000 | 39,300 | |
Net fair value of derivative assets with adjustable posting thresholds | 31,300 | 35,900 | |
Net fair value of derivative liabilities with adjustable posting thresholds | 44,100 | 49,000 | |
Interest Rate Contract [Member] | Cash Flow Hedge | Hedged Items [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Variability in Cash Flows Related to Debt Instruments (Primarily Loans) | $ 900,000 | $ 250,000 |
Derivatives (Derivatives Associ
Derivatives (Derivatives Associated with Fixed Income Trading Activities) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Customer Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | $ 1,743,855 | $ 1,697,992 |
Assets | 34,060 | 39,495 |
Liabilities | 15,510 | 14,996 |
Offsetting Upstream Interest Rate Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 1,743,855 | 1,697,992 |
Assets | 15,258 | 14,996 |
Liabilities | 31,677 | 39,495 |
Put Option [Member] | ShortMember | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 5,000 | |
Assets | 0 | |
Liabilities | 8 | |
Put Option [Member] | LongMember | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 60,000 | 17,500 |
Assets | 86 | 63 |
Liabilities | 0 | 0 |
Forwards And Futures Purchased [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 3,804,024 | 2,916,750 |
Assets | 11,817 | 6,257 |
Liabilities | 5,230 | 26,659 |
Forwards And Futures Sold [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 3,817,997 | 3,085,396 |
Assets | 5,410 | 27,330 |
Liabilities | $ 13,135 | $ 6,615 |
Derivatives (Derivatives Asso75
Derivatives (Derivatives Associated With Interest Rate Risk Management Activities) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Term borrowings | $ 1,035,036 | $ 1,040,656 | |
Customer Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 1,743,855 | 1,697,992 | |
Assets | 34,060 | 39,495 | |
Liabilities | 15,510 | 14,996 | |
Offsetting Upstream Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 1,743,855 | 1,697,992 | |
Assets | 15,258 | 14,996 | |
Liabilities | 31,677 | 39,495 | |
Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | Customer Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 1,450,711 | 1,357,920 | |
Assets | 15,401 | 17,566 | |
Liabilities | 15,388 | 14,277 | |
Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | Offsetting Upstream Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 1,450,711 | 1,357,920 | |
Assets | 14,053 | 14,277 | |
Liabilities | 14,277 | 18,066 | |
Debt Hedging [Member] | Hedging Instruments [Member] | Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | 900,000 | 900,000 | |
Assets | 749 | 1,628 | |
Liabilities | 7,276 | ||
Debt Hedging [Member] | Hedged Items [Member] | Term Borrowings [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Term borrowings | [1] | $ 900,000 | $ 900,000 |
[1] | Represents par value of term borrowings being hedged. |
Derivatives (Gains_(Losses) on
Derivatives (Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | Customer Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) Related to Interest Rate Derivatives | [1] | $ (3,276) | $ 12,559 |
Customer Interest Rate Contracts Hedging [Member] | Hedging Instruments And Hedged Items [Member] | Offsetting Upstream Interest Rate Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) Related to Interest Rate Derivatives | [1] | 3,276 | (12,559) |
Debt Hedging [Member] | Hedging Instruments [Member] | Interest Rate Swaps [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) Related to Interest Rate Derivatives | [1] | (2,800) | 17,037 |
Debt Hedging [Member] | Hedged Items [Member] | Term Borrowings [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) related to term borrowings | [1],[2] | $ 2,733 | $ (16,745) |
[1] | Gains/losses included in the All other expense section of the Consolidated Condensed Statements of Income. | ||
[2] | Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships |
Derivatives (Derivatives Asso77
Derivatives (Derivatives Associated With Cash Flow Hedges) (Details) - Cash Flow Hedge - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 |
Hedging Instruments [Member] | Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Notional | $ 900,000 | $ 250,000 | |
Assets | 1,286 | ||
Liabilities | 2,045 | ||
Hedged Items [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Variability in Cash Flows Related to Debt Instruments (Primarily Loans) | 650,000 | $ 250,000 | |
Hedged Items [Member] | Interest Rate Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Variability in Cash Flows Related to Debt Instruments (Primarily Loans) | $ 900,000 | $ 250,000 |
Derivatives (Gains_(Losses) o78
Derivatives (Gains/(Losses) on Derivatives Associated with Cash Flow Hedges) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain/Loss expected to be reclassified to earnings in the next twelve months | $ 1,500 | ||
Cash Flow Hedge | Hedging Instruments [Member] | Interest Rate Swaps [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) | [1],[2] | $ (3,101) | $ 5,618 |
[1] | Includes approximately $ 1.5 million of losses expected to be reclassified into earnings in the next twelve months | ||
[2] | Amount represents the pre-tax gains/(losses) included within AOCI |
Derivatives (Schedule Of Deriva
Derivatives (Schedule Of Derivative Activities Associated With Trust Preferred Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Loans, net of unearned income | $ 19,090,074 | [1] | $ 19,589,520 | [1] | $ 17,574,994 | |
Loan Portfolio Hedging [Member] | Hedging Instruments [Member] | Interest Rate Swap [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Notional | 6,500 | 6,500 | ||||
Liabilities | 134 | 208 | ||||
Loan Portfolio Hedging [Member] | Hedged Items [Member] | Trust Preferred Loans [Member] | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Loans, net of unearned income | [2],[3] | $ 6,500 | $ 6,500 | |||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | |||||
[2] | Represents principal balance being hedged. | |||||
[3] | Assets included in the Loans, net of unearned income section of the Consolidated Condensed Statements of Condition. |
Derivatives (Gains_(Losses) o80
Derivatives (Gains/(Losses) on Derivatives Associated with Trust Preferred Loans) (Details) - Loan Portfolio Hedging [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Hedging Instruments [Member] | Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) Related to Interest Rate Derivatives | $ 74 | $ 43 | |
Hedged Items [Member] | Trust Preferred Loans [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains/(Losses) Related to Changes in Fair Value Attributable to Interest Rate Risk | [1] | $ (74) | $ (42) |
[1] | 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 Collatera
Derivative Assets And Collateral Received (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | |||
Gross amounts of recognized assets | $ 98,120 | $ 121,654 | |
Derivative Assets not subject to master netting agreements | 17,300 | 33,700 | |
Derivatives, Interest Rate Contracts | Subject to Master Netting Agreements | |||
Derivative [Line Items] | |||
Gross amounts of recognized assets | [1] | 80,807 | 87,962 |
Gross amounts offset in the Statement of Condition | [1] | 0 | 0 |
Net amounts of assets presented in the Statement of Condition | [1],[2] | 80,807 | 87,962 |
Derivative liabilities available for offset | [1] | (18,674) | (25,953) |
Collateral Received | [1] | (46,189) | (52,888) |
Net amount | [1] | $ 15,944 | $ 9,121 |
[1] | Amounts are comprised entirely of interest rate derivative contracts. | ||
[2] | In cluded in Derivative assets on the Consolidated Condensed Statements of Condition. As of March 31 , 2017 and December 31, 2016, $ 17 . 3 million and $ 33.7 million, respectively, of derivative assets (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. |
Derivative Liabilities and Coll
Derivative Liabilities and Collateral Pledged (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | |||
Gross amounts of recognized liabilities | $ 101,347 | $ 135,897 | |
Derivative Liabilities not subject to master netting agreements | 24,400 | 39,500 | |
Derivatives, Interest Rate Contracts | Subject to Master Netting Agreements | |||
Derivative [Line Items] | |||
Gross amounts of recognized liabilities | [1] | 76,986 | 96,363 |
Gross amounts offset in the Statement of Condition | [1] | 0 | 0 |
Net amounts of liabilities presented in the Statement of Condition | [1],[2] | 76,986 | 96,363 |
Derivative assets available for offset | [1] | (18,674) | (25,953) |
Collateral pledged | [1] | (55,378) | (60,746) |
Net amount | [1] | $ 2,934 | $ 9,664 |
[1] | Amounts are comprised entirely of interest rate derivative contracts. | ||
[2] | In cluded in Derivative l iabilities on the Consolidated Condensed Statements of Condition. As of March 31 , 2017 and December 31, 2016, $ 24 . 4 million and $ 39.5 million, respectively, of derivative liabilities (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements. |
Securities Purchased Under Agre
Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Securities Purchased under Agreements to Resell [Abstract] | ||
Gross amounts of recognized assets | $ 835,222 | $ 613,682 |
Gross amounts offset in the Statement of Condition | 0 | 0 |
Net amounts of assets presented in the Statement of Condition | 835,222 | 613,682 |
Offsetting securities sold under agreements to repurchase | (150) | (1,628) |
Securities collateral (not recognized on FHN's Statement of Condition) | (828,596) | (603,813) |
Net amount | $ 6,476 | $ 8,241 |
Securities Sold Under Agreement
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Securities Sold Under Agreements To Repurchase [Abstract] | ||
Gross amounts of recognized liabilities | $ 406,354 | $ 453,053 |
Gross amounts offset in the statement of Condition | 0 | 0 |
Net amounts of liabilities presented in the Statement of Condition | 406,354 | 453,053 |
Offsetting securities purchased under agreements to resell | (150) | (1,628) |
Securities Collateral | (406,185) | (451,414) |
Net amount | $ 19 | $ 11 |
Schedule of the Remaining Contr
Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | $ 406,354 | $ 453,053 |
U.S. treasuries | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 19,344 | 14,864 |
Government agency issued MBS | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 345,156 | 421,771 |
Government agency issued CMO | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 41,854 | 16,418 |
Overnight and Continuous | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 393,883 | 436,635 |
Overnight and Continuous | U.S. treasuries | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 19,344 | 14,864 |
Overnight and Continuous | Government agency issued MBS | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 345,156 | 421,771 |
Overnight and Continuous | Government agency issued CMO | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 29,383 | 0 |
Up to 30 Days | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 12,471 | 16,418 |
Up to 30 Days | U.S. treasuries | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Up to 30 Days | Government agency issued MBS | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | 0 | 0 |
Up to 30 Days | Government agency issued CMO | ||
Transfer Of Certain Financial Assets Accounted For As Secured Borrowings [Line Items] | ||
Securities sold under agreements to repurchase | $ 12,471 | $ 16,418 |
Fair Value Of Assets And Liab86
Fair Value Of Assets And Liabilities (Narrative) (Details) $ in Millions | 3 Months Ended | |
Mar. 31, 2017USD ($)number | Mar. 31, 2016USD ($) | |
Fair Value Of Assets And Liabilities [Abstract] | ||
Gain/(loss) on instrument specific credit risk | $ 0.2 | $ 0.1 |
Number of levels assets and liabilities are grouped in | number | 3 | |
Long-lived asset impairment | $ 3.7 |
Fair Value Of Assets And Liab87
Fair Value Of Assets And Liabilities (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | $ 1,167,310 | $ 897,071 | ||
Loans held-for-sale | 22,445 | 24,269 | ||
Securities available for sale, Fair Value | 3,939,278 | [1] | 3,943,499 | [2] |
Total other assets | 132,229 | 155,479 | ||
Total assets | 5,099,538 | 4,858,813 | ||
Total other liabilities | 101,347 | 135,897 | ||
Total liabilities | 949,537 | 697,745 | ||
Recurring | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 3,777,554 | 3,781,994 | ||
Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Loans held-for-sale | 0 | 0 | ||
Securities available for sale, Fair Value | 25,221 | 25,249 | ||
Total other assets | 51,336 | 66,427 | ||
Total assets | 76,557 | 91,676 | ||
Total other liabilities | 18,365 | 33,274 | ||
Total liabilities | 18,365 | 33,274 | ||
Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Loans held-for-sale | 1,224 | 2,345 | ||
Securities available for sale, Fair Value | 3,752,333 | 3,756,745 | ||
Total other assets | 80,893 | 88,067 | ||
Total assets | 4,999,425 | 4,741,655 | ||
Total other liabilities | 77,032 | 96,378 | ||
Total liabilities | 925,222 | 658,226 | ||
Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Loans held-for-sale | 21,221 | 21,924 | ||
Securities available for sale, Fair Value | 0 | 0 | ||
Total other assets | 0 | 985 | ||
Total assets | 23,556 | 25,482 | ||
Total other liabilities | 5,950 | 6,245 | ||
Total liabilities | 5,950 | 6,245 | ||
Deferred Compensation Assets | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 34,109 | 32,840 | ||
Deferred Compensation Assets | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 34,109 | 32,840 | ||
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 | ||
Mortgage Servicing Rights, Net [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 985 | |||
Mortgage Servicing Rights, Net [Member] | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 0 | |||
Mortgage Servicing Rights, Net [Member] | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 0 | |||
Mortgage Servicing Rights, Net [Member] | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 985 | |||
Derivatives, Forwards And Futures | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 17,227 | 33,587 | ||
Total other liabilities | 18,365 | 33,274 | ||
Derivatives, Forwards And Futures | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 17,227 | 33,587 | ||
Total other liabilities | 18,365 | 33,274 | ||
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 | 80,893 | 88,025 | ||
Total other liabilities | 76,986 | 96,371 | ||
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 | 80,893 | 88,025 | ||
Total other liabilities | 76,986 | 96,371 | ||
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 | 42 | |||
Total other liabilities | 5,996 | 6,252 | ||
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 | 42 | |||
Total other liabilities | 46 | 7 | ||
Derivatives, Other | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Total other assets | 0 | |||
Total other liabilities | 5,950 | 6,245 | ||
U.S. treasuries | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 100 | 100 | ||
U.S. treasuries | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 0 | 0 | ||
U.S. treasuries | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 100 | 100 | ||
U.S. treasuries | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 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, Fair Value | 2,159,922 | 2,208,687 | ||
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, Fair Value | 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, Fair Value | 2,159,922 | 2,208,687 | ||
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, Fair Value | 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, Fair Value | 1,592,311 | 1,547,958 | ||
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, Fair Value | 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, Fair Value | 1,592,311 | 1,547,958 | ||
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, Fair Value | 0 | 0 | ||
Equity, Mutual Funds, And Other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 25,221 | 25,249 | ||
Equity, Mutual Funds, And Other | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 25,221 | 25,249 | ||
Equity, Mutual Funds, And Other | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Securities available for sale, Fair Value | 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, Fair Value | 0 | 0 | ||
Fixed Income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 1,164,980 | 894,503 | ||
Total trading liabilities - fixed income | 848,190 | 561,848 | ||
Fixed Income | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Total trading liabilities - fixed income | 0 | 0 | ||
Fixed Income | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 1,164,975 | 894,498 | ||
Total trading liabilities - fixed income | 848,190 | 561,848 | ||
Fixed Income | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 5 | 5 | ||
Total trading liabilities - fixed income | 0 | 0 | ||
Fixed Income | U.S. treasuries | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 107,264 | 146,988 | ||
Total trading liabilities - fixed income | 657,059 | 381,229 | ||
Fixed Income | U.S. treasuries | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Total trading liabilities - fixed income | 0 | 0 | ||
Fixed Income | U.S. treasuries | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 107,264 | 146,988 | ||
Total trading liabilities - fixed income | 657,059 | 381,229 | ||
Fixed Income | U.S. treasuries | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Total trading liabilities - fixed income | 0 | 0 | ||
Fixed Income | Government Agency Issued Mortgage-Backed Securities ("MBS") | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 323,058 | 256,611 | ||
Fixed Income | 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 | ||
Fixed Income | Government Agency Issued Mortgage-Backed Securities ("MBS") | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 323,058 | 256,611 | ||
Fixed Income | 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 | ||
Fixed Income | Government Agency Issued Collateralized Mortgage Obligations ("CMO") | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 213,949 | 150,058 | ||
Fixed Income | 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 | ||
Fixed Income | Government Agency Issued Collateralized Mortgage Obligations ("CMO") | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 213,949 | 150,058 | ||
Fixed Income | 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 | ||
Fixed Income | Other U.S. Government Agencies | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 88,613 | 52,314 | ||
Total trading liabilities - fixed income | 844 | |||
Fixed Income | 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 - fixed income | 0 | |||
Fixed Income | Other U.S. Government Agencies | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 88,613 | 52,314 | ||
Total trading liabilities - fixed income | 844 | |||
Fixed Income | 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 - fixed income | 0 | |||
Fixed Income | States And Municipalities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 83,872 | 60,351 | ||
Total trading liabilities - fixed income | 11,048 | |||
Fixed Income | States And Municipalities | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Total trading liabilities - fixed income | 0 | |||
Fixed Income | States And Municipalities | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 83,872 | 60,351 | ||
Total trading liabilities - fixed income | 11,048 | |||
Fixed Income | States And Municipalities | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Total trading liabilities - fixed income | 0 | |||
Fixed Income | Corporate And Other Debt | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 346,748 | 227,939 | ||
Total trading liabilities - fixed income | 180,083 | 179,775 | ||
Fixed Income | 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 - fixed income | 0 | 0 | ||
Fixed Income | Corporate And Other Debt | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 346,743 | 227,934 | ||
Total trading liabilities - fixed income | 180,083 | 179,775 | ||
Fixed Income | Corporate And Other Debt | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 5 | 5 | ||
Total trading liabilities - fixed income | 0 | 0 | ||
Fixed Income | Equity, Mutual Funds, And Other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 1,476 | 242 | ||
Fixed Income | Equity, Mutual Funds, And Other | Level 1 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Fixed Income | Equity, Mutual Funds, And Other | Level 2 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 1,476 | 242 | ||
Fixed Income | Equity, Mutual Funds, And Other | Level 3 | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 0 | 0 | ||
Mortgage Banking | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Trading securities | 2,330 | 2,568 | ||
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 | $ 2,330 | $ 2,568 | ||
[1] | Includes $ 3 . 5 billion 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 repu rchase, and for other purposes . |
Fair Value Of Assets And Liab88
Fair Value Of Assets And Liabilities (Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Trading Account Assets [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | $ 2,573 | $ 4,377 | |
Net income | 17 | 147 | |
Purchases, assets | 0 | 0 | |
Settlements, assets | (255) | (1,467) | |
Net transfers into/(out of) Level 3, assets | 0 | 0 | |
Ending Balance | 2,335 | 3,057 | |
Net unrealized gains/(losses) included in net income | [1] | (27) | (115) |
Loans Held For Sale [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 21,924 | 27,418 | |
Net income | 922 | 342 | |
Purchases, assets | 32 | 148 | |
Settlements, assets | (1,574) | (1,365) | |
Net transfers into/(out of) Level 3, assets | [2] | (83) | (256) |
Ending Balance | 21,221 | 26,287 | |
Net unrealized gains/(losses) included in net income | [1] | 922 | 342 |
AFS Securities [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | 1,500 | ||
Net income | 0 | ||
Purchases, assets | 0 | ||
Settlements, assets | 0 | ||
Net transfers into/(out of) Level 3, assets | 0 | ||
Ending Balance | 1,500 | ||
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 | 1,841 | ||
Net income | 0 | ||
Purchases, assets | 0 | ||
Settlements, assets | (116) | ||
Net transfers into/(out of) Level 3, assets | 0 | ||
Ending Balance | 1,725 | ||
Net unrealized gains/(losses) included in net income | 0 | ||
Net Derivative Liabilities [Member] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning Balance | (6,245) | (4,810) | |
Net income | (1) | (109) | |
Purchases, liabilities | 0 | 0 | |
Settlements, liabilities | 296 | 299 | |
Net transfers in/(out) level 3, liabilities | 0 | 0 | |
Ending Balance | (5,950) | (4,620) | |
Net unrealized gains/(losses) included in other expense | [3] | $ (1) | $ (109) |
[1] | Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. | ||
[2] | Transfers out of loans held-for-sale level 3 measured on a recurring basis generally r eflect movements into real estate acquired by foreclosure (level 3 nonrecurring). | ||
[3] | Included in Other expense. |
Fair Value Of Assets And Liab89
Fair Value Of Assets And Liabilities (Nonrecurring Fair Value Measurements) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | |||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | $ 22,445 | $ 24,269 | ||||
Loans, net of unearned income | 19,090,074 | [1] | 19,589,520 | [1] | $ 17,574,994 | |
Real estate acquired by foreclosure | [2] | 15,144 | 16,237 | |||
Other assets | 132,229 | 155,479 | ||||
Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | [3] | 30,838 | 31,070 | |||
Real estate acquired by foreclosure | [4] | 10,259 | 11,235 | |||
Other assets | [5] | 28,667 | 29,609 | |||
Level 1 | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | ||||
Other assets | 51,336 | 66,427 | ||||
Level 1 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | [3] | 0 | 0 | |||
Real estate acquired by foreclosure | [4] | 0 | 0 | |||
Other assets | [5] | 0 | 0 | |||
Level 2 | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 1,224 | 2,345 | ||||
Other assets | 80,893 | 88,067 | ||||
Level 2 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | [3] | 0 | 0 | |||
Real estate acquired by foreclosure | [4] | 0 | 0 | |||
Other assets | [5] | 0 | 0 | |||
Level 3 | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 21,221 | 21,924 | ||||
Other assets | 0 | 985 | ||||
Level 3 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans, net of unearned income | [3] | 30,838 | 31,070 | |||
Real estate acquired by foreclosure | [4] | 10,259 | 11,235 | |||
Other assets | [5] | 28,667 | 29,609 | |||
First Mortgages | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 606 | 638 | ||||
First Mortgages | Level 1 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | ||||
First Mortgages | Level 2 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | ||||
First Mortgages | Level 3 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 606 | 638 | ||||
SBAs [Member] | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 3,476 | 4,286 | ||||
SBAs [Member] | Level 1 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 0 | 0 | ||||
SBAs [Member] | Level 2 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | 3,476 | 4,286 | ||||
SBAs [Member] | Level 3 | Non Recurring | ||||||
Fair Value Of Assets And Liabilities [Line Items] | ||||||
Loans held-for-sale | $ 0 | $ 0 | ||||
[1] | March 31, 2017 and December 31, 2016 include $30.3 million and $28.5 million, respectively, of held-to-maturity consumer mortgage loans se cured by residential real estate properties in process of foreclosure. | |||||
[2] | March 31, 2017 and December 31, 2016 include $ 7.8 million and $8.1 million, respectively, of foreclosed residential real estate. | |||||
[3] | Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. | |||||
[4] | Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | |||||
[5] | Represents tax credit investments accounted for under the equity method . |
Fair Value Of Assets And Liab90
Fair Value Of Assets And Liabilities (Gains/(losses) on Noncurring Fair Value Measurements) (Details) - Non Recurring - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Fair Value Of Assets And Liabilities [Line Items] | |||
Net gains/(losses), Loans, net of unearned income | [1] | $ 484 | $ (4,672) |
Net gains/(losses), Real estate acquired by foreclosure | [2] | (445) | (536) |
Net gains/(losses), Other assets | [3] | (942) | (706) |
Gain (loss) on financial assets measured on non-recurring basis | (933) | (5,909) | |
First Mortgages | |||
Fair Value Of Assets And Liabilities [Line Items] | |||
Net gains/(losses), Loans held for sale | 3 | 5 | |
SBAs [Member] | |||
Fair Value Of Assets And Liabilities [Line Items] | |||
Net gains/(losses), Loans held for sale | $ (33) | $ 0 | |
[1] | Write-downs on these loans are recognized as part of provision for loan losses. | ||
[2] | Represents 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 . |
Fair Value Of Assets And Liab91
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 ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loans held-for-sale | $ 22,445 | $ 24,269 | |
Other Liabilities, Fair Value Disclosure | 101,347 | 135,897 | |
Real estate acquired by foreclosure | [1] | 15,144 | 16,237 |
Other assets | 132,229 | 155,479 | |
Residential Real Estate | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Real estate acquired by foreclosure | 7,800 | 8,100 | |
Non Recurring | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Real estate acquired by foreclosure | [2] | 10,259 | 11,235 |
Other assets | [3] | 28,667 | 29,609 |
Non Recurring | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loans held-for-sale | 606 | 638 | |
Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Other Liabilities, Fair Value Disclosure | 5,996 | 6,252 | |
Other assets | 42 | ||
Level 3 | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loans held-for-sale | 21,221 | 21,924 | |
Other Liabilities, Fair Value Disclosure | 5,950 | 6,245 | |
Other assets | 0 | 985 | |
Level 3 | Residential Real Estate | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loans held-for-sale | 21,827 | 22,562 | |
Level 3 | Non Recurring | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loans, net of unearned income | [4] | 30,838 | 31,070 |
Real estate acquired by foreclosure | [2] | 10,259 | 11,235 |
Other assets | [3] | 28,667 | 29,609 |
Level 3 | Non Recurring | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loans held-for-sale | 606 | 638 | |
Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Other Liabilities, Fair Value Disclosure | 5,950 | 6,245 | |
Other assets | 0 | ||
Other Assets | Level 3 | Non Recurring | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Other assets | [3] | $ 28,667 | $ 29,609 |
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 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Visa covered litigation resolution amount | $ 5,200,000 | $ 5,200,000 | |
Maximum | Discounted Cash Flow | 2% - 12% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Prepayment Speeds | 12.00% | ||
Maximum | Discounted Cash Flow | 2% - 13% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Prepayment Speeds | 13.00% | ||
Maximum | Discounted Cash Flow | 3% - 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% | 15.00% | |
Maximum | Discounted Cash Flow | 50% - 70% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Foreclosure losses | 70.00% | 70.00% | |
Maximum | Discounted Cash Flow | 5% - 50% Of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loss severity trends | 50.00% | 50.00% | |
Maximum | Discounted Cash Flow | 15% - 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% | 100.00% | |
Maximum | Discounted Cash Flow | 10% - 30% Values Utilized | Derivative Liabilities, Other | Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Probability of resolution scenarios | 30.00% | 30.00% | |
Maximum | Discounted Cash Flow | 21 - 51 Months | Derivative Liabilities, Other | Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Time until resolution | 51 months | ||
Maximum | Discounted Cash Flow | 24 - 54 Months | Derivative Liabilities, Other | Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Time until resolution | 54 months | ||
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 | 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 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Visa covered litigation resolution amount | $ 4,400,000 | $ 4,400,000 | |
Minimum | Discounted Cash Flow | 2% - 12% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Prepayment Speeds | 2.00% | ||
Minimum | Discounted Cash Flow | 2% - 13% 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 | 3% - 15% 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% | 3.00% | |
Minimum | Discounted Cash Flow | 50% - 70% Values Utilized | Loans Held-For-Sale | Level 3 | Residential Real Estate | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Foreclosure losses | 50.00% | 50.00% | |
Minimum | Discounted Cash Flow | 5% - 50% Of UPB | Loans Held-For-Sale | Level 3 | Residential Real Estate | First Mortgages | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Loss severity trends | 5.00% | 5.00% | |
Minimum | Discounted Cash Flow | 15% - 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 | 15.00% | 15.00% | |
Minimum | Discounted Cash Flow | 10% - 30% Values Utilized | Derivative Liabilities, Other | Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Probability of resolution scenarios | 10.00% | 10.00% | |
Minimum | Discounted Cash Flow | 21 - 51 Months | Derivative Liabilities, Other | Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Time until resolution | 21 months | ||
Minimum | Discounted Cash Flow | 24 - 54 Months | Derivative Liabilities, Other | Level 3 | Derivatives, Other | |||
Fair Value Inputs Assets Quantitative Information [Line Items] | |||
Time until resolution | 24 months | ||
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 | 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] | March 31, 2017 and December 31, 2016 include $ 7.8 million and $8.1 million, respectively, of foreclosed residential real estate. | ||
[2] | Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages. | ||
[3] | Represents tax credit investments accounted for under the equity method . | ||
[4] | Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for loan losses. |
Fair Value Of Assets And Liab92
Fair Value Of Assets And Liabilities (Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | $ 22,445 | $ 24,269 |
Fair Value Carrying Amount | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | 22,444 | 24,269 |
Nonaccrual loans | 6,689 | 6,775 |
Loans 90 days or more past due and still accruing | 120 | 211 |
Aggregate Unpaid Principal | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | 32,427 | 35,262 |
Nonaccrual loans | 12,305 | 12,910 |
Loans 90 days or more past due and still accruing | 158 | 331 |
Fair Value Carrying Amount Less Aggregate Unpaid Principal | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale | (9,983) | (10,993) |
Nonaccrual loans | (5,616) | (6,135) |
Loans 90 days or more past due and still accruing | $ (38) | $ (120) |
Fair Value Of Assets And Liab93
Fair Value Of Assets And Liabilities (Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
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 | $ 922 | $ 342 |
Fair Value Of Assets And Liab94
Fair Value Of Assets And Liabilities (Summary Of Book Value And Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | |||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | $ 18,888,106 | $ 19,387,452 | |||
Short-term financial assets: | |||||
Interest-bearing cash | 2,106,597 | 1,060,034 | |||
Federal funds sold | 31,495 | 50,838 | |||
Securities purchased under agreements to resell | 835,222 | 613,682 | |||
Trading securities | 1,167,310 | 897,071 | |||
Loans held-for-sale | [1] | 105,456 | 111,248 | ||
Securities available-for-sale | 3,939,278 | [2] | 3,943,499 | [3] | |
Securities held-to-maturity | 14,354 | 14,347 | |||
Derivative assets | 98,120 | 121,654 | |||
Other assets: | |||||
Total other assets | 132,229 | 155,479 | |||
Nonearning assets: | |||||
Cash and due from banks | 369,290 | 373,274 | |||
Fixed income receivables | 168,315 | 57,411 | |||
Total assets | 29,618,600 | 28,555,231 | |||
Deposits: | |||||
Total deposits | 23,479,841 | 22,672,363 | |||
Trading liabilities | 848,190 | 561,848 | |||
Short-term financial liabilities: | |||||
Federal Funds Purchased | 504,805 | 414,207 | |||
Securities sold under agreements to repurchase | 406,354 | 453,053 | |||
Other short-term borrowings | 79,454 | 83,177 | |||
Term borrowings: | |||||
Total term borrowings | 1,035,036 | 1,040,656 | |||
Derivative liabilities | 101,347 | 135,897 | |||
Other noninterest-bearing liabilities: | |||||
Fixed income payables | 21,116 | 21,002 | |||
Total liabilities | 26,878,140 | 25,850,147 | |||
Fair Value Inputs Level1 [Member] | |||||
Short-term financial assets: | |||||
Securities available-for-sale | 25,221 | 25,249 | |||
Other assets: | |||||
Total other assets | 51,336 | 66,427 | |||
Fair Value Inputs Level2 [Member] | |||||
Short-term financial assets: | |||||
Securities available-for-sale | 3,752,333 | 3,756,745 | |||
Other assets: | |||||
Total other assets | 80,893 | 88,067 | |||
Fair Value Inputs Level3 [Member] | |||||
Short-term financial assets: | |||||
Securities available-for-sale | 0 | 0 | |||
Other assets: | |||||
Total other assets | 0 | 985 | |||
Fair Value Inputs Level3 [Member] | FHLB-Cincinnati Stock [Member] | |||||
Other noninterest-bearing liabilities: | |||||
Restricted investments | 87,900 | 87,900 | |||
Fair Value Inputs Level3 [Member] | FRB Stock [Member] | |||||
Other noninterest-bearing liabilities: | |||||
Restricted investments | 68,600 | 68,600 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 18,888,106 | 19,387,452 | |||
Short-term financial assets: | |||||
Interest-bearing cash | 2,106,597 | 1,060,034 | |||
Federal funds sold | 31,495 | 50,838 | |||
Securities purchased under agreements to resell | 835,222 | 613,682 | |||
Total short-term financial assets | 2,973,314 | 1,724,554 | |||
Trading securities | [4] | 1,167,310 | 897,071 | ||
Loans held-for-sale | 105,456 | 111,248 | |||
Securities available-for-sale | [4] | 3,939,278 | [5] | 3,943,499 | [6] |
Securities held-to-maturity | 14,354 | 14,347 | |||
Derivative assets | [4] | 98,120 | 121,654 | ||
Other assets: | |||||
Tax credit investments | 96,824 | 100,105 | |||
Deferred compensation assets | 34,109 | 32,840 | |||
Total other assets | 130,933 | 132,945 | |||
Nonearning assets: | |||||
Cash and due from banks | 369,290 | 373,274 | |||
Fixed income receivables | 168,315 | 57,411 | |||
Accrued interest receivable | 61,832 | 62,887 | |||
Total nonearning assets | 599,437 | 493,572 | |||
Total assets | 27,916,308 | 26,826,342 | |||
Deposits: | |||||
Defined maturity | 1,385,818 | 1,355,133 | |||
Undefined maturity | 22,094,023 | 21,317,230 | |||
Total deposits | 23,479,841 | 22,672,363 | |||
Trading liabilities | [4] | 848,190 | 561,848 | ||
Short-term financial liabilities: | |||||
Federal Funds Purchased | 504,805 | 414,207 | |||
Securities sold under agreements to repurchase | 406,354 | 453,053 | |||
Other short-term borrowings | 79,454 | 83,177 | |||
Total short-term financial liabilities | 990,613 | 950,437 | |||
Term borrowings: | |||||
Real estate investment trust-preferred | 46,049 | 46,032 | |||
Term borrowings - new market tax credit investment | 18,000 | 18,000 | |||
Borrowings secured by residential real estate | 19,819 | 23,126 | |||
Other long term borrowings | 951,168 | 953,498 | |||
Total term borrowings | 1,035,036 | 1,040,656 | |||
Derivative liabilities | [4] | 101,347 | 135,897 | ||
Other noninterest-bearing liabilities: | |||||
Fixed income payables | 21,116 | 21,002 | |||
Accrued interest payable | 17,696 | 10,336 | |||
Total other noninterest-bearing liabilities | 38,812 | 31,338 | |||
Total liabilities | 26,493,839 | 25,392,539 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 11,610,889 | 12,058,689 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 2,142,423 | 2,101,671 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 4,407,131 | 4,473,395 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 393,342 | 406,836 | |||
Carrying Reported Amount Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 334,321 | 346,861 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 18,687,323 | 19,134,856 | |||
Short-term financial assets: | |||||
Interest-bearing cash | 2,106,597 | 1,060,034 | |||
Federal funds sold | 31,495 | 50,838 | |||
Securities purchased under agreements to resell | 835,222 | 613,682 | |||
Total short-term financial assets | 2,973,314 | 1,724,554 | |||
Trading securities | [4] | 1,167,310 | 897,071 | ||
Loans held-for-sale | 105,456 | 111,248 | |||
Securities available-for-sale | [4] | 3,939,278 | [5] | 3,943,499 | [6] |
Securities held-to-maturity | 14,803 | 14,773 | |||
Derivative assets | [4] | 98,120 | 121,654 | ||
Other assets: | |||||
Tax credit investments | 94,884 | 98,400 | |||
Deferred compensation assets | 34,109 | 32,840 | |||
Total other assets | 128,993 | 131,240 | |||
Nonearning assets: | |||||
Cash and due from banks | 369,290 | 373,274 | |||
Fixed income receivables | 168,315 | 57,411 | |||
Accrued interest receivable | 61,832 | 62,887 | |||
Total nonearning assets | 599,437 | 493,572 | |||
Total assets | 27,714,034 | 26,572,467 | |||
Deposits: | |||||
Defined maturity | 1,391,170 | 1,361,104 | |||
Undefined maturity | 22,094,023 | 21,317,230 | |||
Total deposits | 23,485,193 | 22,678,334 | |||
Trading liabilities | [4] | 848,190 | 561,848 | ||
Short-term financial liabilities: | |||||
Federal Funds Purchased | 504,805 | 414,207 | |||
Securities sold under agreements to repurchase | 406,354 | 453,053 | |||
Other short-term borrowings | 79,454 | 83,177 | |||
Total short-term financial liabilities | 990,613 | 950,437 | |||
Term borrowings: | |||||
Real estate investment trust-preferred | 49,350 | 49,350 | |||
Term borrowings - new market tax credit investment | 17,934 | 17,918 | |||
Borrowings secured by residential real estate | 18,828 | 21,969 | |||
Other long term borrowings | 967,792 | 965,066 | |||
Total term borrowings | 1,053,904 | 1,054,303 | |||
Derivative liabilities | [4] | 101,347 | 135,897 | ||
Other noninterest-bearing liabilities: | |||||
Fixed income payables | 21,116 | 21,002 | |||
Accrued interest payable | 17,696 | 10,336 | |||
Total other noninterest-bearing liabilities | 38,812 | 31,338 | |||
Total liabilities | 26,518,059 | 25,412,157 | |||
Loan commitments | 2,612 | 2,924 | |||
Standby and other commitments | 4,230 | 4,037 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 11,520,970 | 11,918,374 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 2,112,591 | 2,078,306 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Consumer Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 4,325,035 | 4,385,669 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Permanent Mortgage Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 393,859 | 404,930 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Credit Card And Other Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 334,868 | 347,577 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level1 [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Short-term financial assets: | |||||
Interest-bearing cash | 2,106,597 | 1,060,034 | |||
Federal funds sold | 0 | 0 | |||
Securities purchased under agreements to resell | 0 | 0 | |||
Total short-term financial assets | 2,106,597 | 1,060,034 | |||
Trading securities | [4] | 0 | 0 | ||
Loans held-for-sale | 0 | 0 | |||
Securities available-for-sale | [4] | 25,221 | [5] | 25,249 | [6] |
Securities held-to-maturity | 0 | 0 | |||
Derivative assets | [4] | 17,227 | 33,587 | ||
Other assets: | |||||
Tax credit investments | 0 | 0 | |||
Deferred compensation assets | 34,109 | 32,840 | |||
Total other assets | 34,109 | 32,840 | |||
Nonearning assets: | |||||
Cash and due from banks | 369,290 | 373,274 | |||
Fixed income receivables | 0 | 0 | |||
Accrued interest receivable | 0 | 0 | |||
Total nonearning assets | 369,290 | 373,274 | |||
Total assets | 2,552,444 | 1,524,984 | |||
Deposits: | |||||
Defined maturity | 0 | 0 | |||
Undefined maturity | 0 | 0 | |||
Total deposits | 0 | 0 | |||
Trading liabilities | [4] | 0 | 0 | ||
Short-term financial liabilities: | |||||
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 term borrowings | 0 | 0 | |||
Derivative liabilities | [4] | 18,365 | 33,274 | ||
Other noninterest-bearing liabilities: | |||||
Fixed income payables | 0 | 0 | |||
Accrued interest payable | 0 | 0 | |||
Total other noninterest-bearing liabilities | 0 | 0 | |||
Total liabilities | 18,365 | 33,274 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level1 [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level1 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level1 [Member] | Consumer Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level1 [Member] | Permanent Mortgage Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level1 [Member] | Credit Card And Other Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level2 [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Short-term financial assets: | |||||
Interest-bearing cash | 0 | 0 | |||
Federal funds sold | 31,495 | 50,838 | |||
Securities purchased under agreements to resell | 835,222 | 613,682 | |||
Total short-term financial assets | 866,717 | 664,520 | |||
Trading securities | [4] | 1,164,975 | 894,498 | ||
Loans held-for-sale | 4,700 | 6,631 | |||
Securities available-for-sale | [4] | 3,752,333 | [5] | 3,756,745 | [6] |
Securities held-to-maturity | 0 | 0 | |||
Derivative assets | [4] | 80,893 | 88,067 | ||
Other assets: | |||||
Tax credit investments | 0 | 0 | |||
Deferred compensation assets | 0 | 0 | |||
Total other assets | 0 | 0 | |||
Nonearning assets: | |||||
Cash and due from banks | 0 | 0 | |||
Fixed income receivables | 168,315 | 57,411 | |||
Accrued interest receivable | 61,832 | 62,887 | |||
Total nonearning assets | 230,147 | 120,298 | |||
Total assets | 6,099,765 | 5,530,759 | |||
Deposits: | |||||
Defined maturity | 1,391,170 | 1,361,104 | |||
Undefined maturity | 22,094,023 | 21,317,230 | |||
Total deposits | 23,485,193 | 22,678,334 | |||
Trading liabilities | [4] | 848,190 | 561,848 | ||
Short-term financial liabilities: | |||||
Federal Funds Purchased | 504,805 | 414,207 | |||
Securities sold under agreements to repurchase | 406,354 | 453,053 | |||
Other short-term borrowings | 79,454 | 83,177 | |||
Total short-term financial liabilities | 990,613 | 950,437 | |||
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 | 967,792 | 965,066 | |||
Total term borrowings | 967,792 | 965,066 | |||
Derivative liabilities | [4] | 77,032 | 96,378 | ||
Other noninterest-bearing liabilities: | |||||
Fixed income payables | 21,116 | 21,002 | |||
Accrued interest payable | 17,696 | 10,336 | |||
Total other noninterest-bearing liabilities | 38,812 | 31,338 | |||
Total liabilities | 26,407,632 | 25,283,401 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level2 [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level2 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level2 [Member] | Consumer Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level2 [Member] | Permanent Mortgage Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level2 [Member] | Credit Card And Other Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level3 [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 18,687,323 | 19,134,856 | |||
Short-term financial assets: | |||||
Interest-bearing cash | 0 | 0 | |||
Federal funds sold | 0 | 0 | |||
Securities purchased under agreements to resell | 0 | 0 | |||
Total short-term financial assets | 0 | 0 | |||
Trading securities | [4] | 2,335 | 2,573 | ||
Loans held-for-sale | 100,756 | [4] | 104,617 | ||
Securities available-for-sale | [4] | 161,724 | [5] | 161,505 | [6] |
Securities held-to-maturity | 14,803 | 14,773 | |||
Derivative assets | [4] | 0 | 0 | ||
Other assets: | |||||
Tax credit investments | 94,884 | 98,400 | |||
Deferred compensation assets | 0 | 0 | |||
Total other assets | 94,884 | 98,400 | |||
Nonearning assets: | |||||
Cash and due from banks | 0 | 0 | |||
Fixed income receivables | 0 | 0 | |||
Accrued interest receivable | 0 | 0 | |||
Total nonearning assets | 0 | 0 | |||
Total assets | 19,061,825 | 19,516,724 | |||
Deposits: | |||||
Defined maturity | 0 | 0 | |||
Undefined maturity | 0 | 0 | |||
Total deposits | 0 | 0 | |||
Trading liabilities | [4] | 0 | 0 | ||
Short-term financial liabilities: | |||||
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 | 49,350 | |||
Term borrowings - new market tax credit investment | 17,934 | 17,918 | |||
Borrowings secured by residential real estate | 18,828 | 21,969 | |||
Other long term borrowings | 0 | 0 | |||
Total term borrowings | 86,112 | 89,237 | |||
Derivative liabilities | [4] | 5,950 | 6,245 | ||
Other noninterest-bearing liabilities: | |||||
Fixed income payables | 0 | 0 | |||
Accrued interest payable | 0 | 0 | |||
Total other noninterest-bearing liabilities | 0 | 0 | |||
Total liabilities | 92,062 | 95,482 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level3 [Member] | Commercial Financial And Industrial Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 11,520,970 | 11,918,374 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level3 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 2,112,591 | 2,078,306 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level3 [Member] | Consumer Real Estate Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 4,325,035 | 4,385,669 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level3 [Member] | Permanent Mortgage Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 393,859 | 404,930 | |||
Estimate Of Fair Value Fair Value Disclosure [Member] | Fair Value Inputs Level3 [Member] | Credit Card And Other Portfolio Segment [Member] | |||||
Assets: | |||||
Total loans, net of unearned income and allowance for loan losses | 334,868 | 347,577 | |||
Contractual Amount [Member] | |||||
Other noninterest-bearing liabilities: | |||||
Loan commitments | 9,430,508 | 8,744,649 | |||
Standby and other commitments | $ 273,029 | $ 277,549 | |||
[1] | March 31, 2017 an d December 31, 2016 include $17.5 million and $19.3 million, respectively, of held-for-sale consumer mortgage loans secured by residential real estate in process of foreclosure. | ||||
[2] | Includes $ 3 . 5 billion 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 repu rchase, 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 $ 87.9 million and FRB stock of $ 68.6 million . | ||||
[6] | Level 3 includes restricted investments in FHLB-Cincinnati stock of $ 87.9 million and FRB stock of $ 68.6 million. |