Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2018shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | FIRST HORIZON NATIONAL CORP |
Entity Central Index Key | 36,966 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Entity Common Stock, Shares Outstanding (in shares) | 325,003,353 |
Trading Symbol | FHN |
CONSOLIDATED CONDENSED STATEMEN
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Assets: | |||
Cash and due from banks | $ 602,952 | $ 639,073 | |
Federal funds sold | 91,303 | 87,364 | |
Securities purchased under agreements to resell | 782,765 | 725,609 | |
Total cash and cash equivalents | 1,477,020 | 1,452,046 | |
Interest-bearing cash | 750,634 | 1,185,600 | |
Trading securities | 1,649,470 | 1,416,345 | |
Loans held-for-sale | [1] | 692,659 | 699,377 |
Securities available-for-sale | 4,724,411 | 5,170,255 | |
Securities available-for-sale | 5,170,255 | ||
Securities held-to-maturity | 10,000 | 10,000 | |
Loans, net of unearned income | [2] | 27,701,740 | 27,658,929 |
Less: Allowance for loan losses | 185,462 | 189,555 | |
Total net loans | 27,516,278 | 27,469,374 | |
Goodwill | 1,409,276 | 1,386,853 | |
Other intangible assets, net | 167,955 | 184,389 | |
Fixed income receivables | 68,148 | 68,693 | |
Premises and equipment, net (June 30, 2018 and December 31, 2017 include $43.6 million and $53.2 million, respectively, classified as held-for-sale) | 525,175 | 532,251 | |
Other real estate owned (OREO) | [3] | 29,712 | 43,382 |
Derivative assets | 122,056 | 81,634 | |
Other assets | 1,934,001 | 1,723,189 | |
Total assets | 41,076,795 | 41,423,388 | |
Deposits: | |||
Savings (December 31, 2017 includes $22.6 million classified as held-for-sale) | 11,284,013 | 10,872,665 | |
Time deposits, net (December 31, 2017 includes $8.0 million classified as held-for-sale) | 3,543,987 | 3,322,921 | |
Other interest-bearing deposits | 7,911,977 | 8,401,773 | |
Interest-bearing | 22,739,977 | 22,597,359 | |
Noninterest-bearing (December 31, 2017 includes $4.8 million classified as held-for-sale) | 8,237,890 | 8,023,003 | |
Total deposits | 30,977,867 | 30,620,362 | |
Federal funds purchased | 351,655 | 399,820 | |
Securities sold under agreements to repurchase | 713,152 | 656,602 | |
Trading liabilities | 743,721 | 638,515 | |
Other short-term borrowings | 1,836,852 | 2,626,213 | |
Term borrowings | 1,227,281 | 1,218,097 | |
Fixed income payables | 14,739 | 48,996 | |
Derivative liabilities | 135,349 | 85,061 | |
Other liabilities | 526,430 | 549,234 | |
Total liabilities | 36,527,046 | 36,842,900 | |
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 June 30, 2018 and December 31, 2017) | 95,624 | 95,624 | |
Common stock - $.625 par value (shares authorized - 400,000,000; shares issued - 325,003,353 on June 30, 2018 and 326,736,214 on December 31, 2017) | 203,127 | 204,211 | |
Capital surplus | 3,113,612 | 3,147,613 | |
Undivided profits | 1,254,069 | 1,160,434 | |
Accumulated other comprehensive loss, net | (412,114) | (322,825) | |
Total First Horizon National Corporation Shareholders’ Equity | 4,254,318 | 4,285,057 | |
Noncontrolling interest | 295,431 | 295,431 | |
Total equity | 4,549,749 | 4,580,488 | |
Total liabilities and equity | $ 41,076,795 | $ 41,423,388 | |
[1] | June 30, 2018 and December 31, 2017 include $8.9 million and $11.7 million, respectively, of held-for-sale consumer mortgage loans secured by residential real estate in process of foreclosure. | ||
[2] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. | ||
[3] | June 30, 2018 and December 31, 2017 include $6.1 million and $6.3 million, respectively, of foreclosed residential real estate. |
CONSOLIDATED CONDENSED STATEME3
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Statement of Financial Position [Abstract] | |||
Premises and equipment held for sale | $ 43,600 | $ 53,200 | |
Savings classified as held for sale | 22,600 | ||
Time deposits held for sale | 8,000 | ||
Non-interest bearing deposit liabilities held for sale | $ 4,800 | ||
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 | |
Preferred stock liquidation preference value (in dollars per share) | $ 100,000 | $ 100,000 | |
Preferred stock, shares authorized (in shares) | 1,000 | 1,000 | |
Preferred stock, shares issued (in shares) | 1,000 | 1,000 | |
Common stock, par value (in dollars per share) | $ 0.625 | $ 0.625 | |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 | |
Common stock, shares issued (in shares) | 325,003,353 | 326,736,214 | |
Mortgage loans secured by residential real estate in process of foreclosure | [1] | $ 29,712 | $ 43,382 |
Residential Real Estate | |||
Foreclosed residential real estate | 8,900 | 11,700 | |
Mortgage loans secured by residential real estate in process of foreclosure | 6,100 | 6,300 | |
Residential Real Estate | Loans Held-For-Sale | |||
Foreclosed residential real estate | $ 21,400 | $ 22,700 | |
[1] | June 30, 2018 and December 31, 2017 include $6.1 million and $6.3 million, respectively, of foreclosed residential real estate. |
CONSOLIDATED CONDENSED STATEME4
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest income: | ||||
Interest and fees on loans | $ 323,974 | $ 192,580 | $ 623,467 | $ 373,044 |
Interest on investment securities available-for-sale | 32,634 | 25,657 | 65,481 | 51,292 |
Interest on investment securities held-to-maturity | 132 | 132 | 263 | 329 |
Interest on loans held-for-sale | 11,228 | 3,510 | 23,372 | 4,793 |
Interest on trading securities | 14,742 | 9,418 | 29,150 | 15,771 |
Interest on other earning assets | 5,101 | 4,044 | 9,433 | 8,923 |
Total interest income | 387,811 | 235,341 | 751,166 | 454,152 |
Interest on deposits: | ||||
Savings | 25,600 | 11,194 | 40,500 | 20,404 |
Time deposits | 11,236 | 2,918 | 20,761 | 5,751 |
Other interest-bearing deposits | 11,913 | 5,074 | 22,521 | 9,217 |
Interest on trading liabilities | 4,790 | 4,203 | 9,914 | 7,984 |
Interest on short-term borrowings | 10,110 | 2,903 | 20,152 | 4,295 |
Interest on term borrowings | 13,230 | 8,348 | 25,213 | 16,092 |
Total interest expense | 76,879 | 34,640 | 139,061 | 63,743 |
Net interest income | 310,932 | 200,701 | 612,105 | 390,409 |
Provision/(provision credit) for loan losses | 0 | (2,000) | (1,000) | (3,000) |
Net interest income after provision/(provision credit) for loan losses | 310,932 | 202,701 | 613,105 | 393,409 |
Noninterest income: | ||||
Fixed income | 37,697 | 55,110 | 83,203 | 105,788 |
Deposit transactions and cash management | 36,083 | 27,858 | 72,067 | 52,423 |
Brokerage, management fees and commissions | 13,740 | 12,029 | 27,223 | 23,935 |
Bankcard income | 8,132 | 7,698 | 15,409 | 14,351 |
Trust services and investment management | 6,635 | 5,605 | 13,080 | 11,060 |
Bank-owned life insurance | 5,773 | 4,351 | 9,766 | 7,598 |
Debt securities gains/(losses), net | 0 | 405 | 52 | 449 |
Equity securities gains/(losses), net | 31 | 0 | 65 | 0 |
All other income and commissions | 19,434 | 14,617 | 42,677 | 29,008 |
Total noninterest income | 127,525 | 127,673 | 263,542 | 244,612 |
Adjusted gross income after provision/(provision credit) for loan losses | 438,457 | 330,374 | 876,647 | 638,021 |
Noninterest expense: | ||||
Employee compensation, incentives, and benefits | 165,890 | 138,276 | 337,144 | 272,770 |
Occupancy | 22,503 | 12,800 | 42,954 | 25,140 |
Professional fees | 15,415 | 9,659 | 27,687 | 14,405 |
Computer software | 15,123 | 12,285 | 30,255 | 23,084 |
Operational services | 14,653 | 11,524 | 30,214 | 22,399 |
Equipment rentals, depreciation, and maintenance | 10,708 | 7,036 | 20,726 | 13,387 |
FDIC premium expense | 9,978 | 5,927 | 18,592 | 11,666 |
Communications and courier | 7,530 | 4,117 | 15,762 | 7,917 |
Amortization of intangible assets | 6,460 | 1,964 | 12,934 | 3,196 |
Contract employment and outsourcing | 5,907 | 3,255 | 9,960 | 6,213 |
Advertising and public relations | 5,070 | 4,095 | 8,669 | 8,696 |
Legal fees | 2,784 | 3,496 | 5,129 | 8,779 |
Repurchase and foreclosure provision/(provision credit) | (252) | (21,733) | (324) | (21,971) |
All other expense | 50,999 | 25,216 | 86,331 | 44,441 |
Total noninterest expense | 332,768 | 217,917 | 646,033 | 440,122 |
Income/(loss) before income taxes | 105,689 | 112,457 | 230,614 | 197,899 |
Provision/(benefit) for income taxes | 19,697 | 17,253 | 49,628 | 44,307 |
Net income/(loss) | 85,992 | 95,204 | 180,986 | 153,592 |
Net income attributable to noncontrolling interest | 2,852 | 2,852 | 5,672 | 5,672 |
Net income/(loss) attributable to controlling interest | 83,140 | 92,352 | 175,314 | 147,920 |
Preferred stock dividends | 1,550 | 1,550 | 3,100 | 3,100 |
Net income/(loss) available to common shareholders | $ 81,590 | $ 90,802 | $ 172,214 | $ 144,820 |
Basic earnings/(loss) per share (in dollars per share) | $ 0.25 | $ 0.39 | $ 0.53 | $ 0.62 |
Diluted earnings/(loss) per share (in dollars per share) | $ 0.25 | $ 0.38 | $ 0.52 | $ 0.61 |
Weighted average common shares (in shares) | 325,153 | 233,482 | 325,817 | 233,280 |
Diluted average common shares (in shares) | 328,426 | 236,263 | 329,353 | 236,225 |
Cash dividends declared per common share (in dollars per share) | $ 0.12 | $ 0.09 | $ 0.24 | $ 0.18 |
CONSOLIDATED CONDENSED STATEME5
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |||
Statements of Comprehensive Income/(loss) | ||||||
Net income/(loss) | $ 85,992 | $ 95,204 | $ 180,986 | $ 153,592 | ||
Other comprehensive income/(loss), net of tax: | ||||||
Net unrealized gains/(losses) on securities available-for-sale | (21,094) | 8,938 | (80,637) | 7,375 | ||
Net unrealized gains/(losses) on cash flow hedges | (2,994) | 2,155 | (11,787) | 241 | ||
Net unrealized gains/(losses) on pension and other postretirement plans | 2,059 | 1,403 | 3,346 | 2,576 | ||
Other comprehensive income/(loss) | (22,029) | 12,496 | (89,078) | [1] | 10,192 | [1] |
Comprehensive income/(loss) | 63,963 | 107,700 | 91,908 | 163,784 | ||
Comprehensive income attributable to noncontrolling interest | 2,852 | 2,852 | 5,672 | 5,672 | ||
Comprehensive income attributable to controlling interest | 61,111 | 104,848 | 86,236 | 158,112 | ||
Income tax expense/(benefit) of items included in Other comprehensive income: | ||||||
Net unrealized gains/(losses) on securities available-for-sale | (6,924) | 5,543 | (26,471) | 4,573 | ||
Net unrealized gains/(losses) on cash flow hedges | (983) | 1,336 | (3,870) | 149 | ||
Net unrealized gains/(losses) on pension and other postretirement plans | $ 676 | $ 870 | $ 1,098 | $ 1,597 | ||
[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 CONDENSED STATEME6
CONSOLIDATED CONDENSED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Total | Controlling Interest | Noncontrolling Interest | |
Balance, January 1 at Dec. 31, 2016 | $ 2,705,084 | $ 2,409,653 | $ 295,431 | |
Adjustment to reflect adoption of ASU 2017-12 at Dec. 31, 2016 | 0 | 0 | 0 | |
Beginning balance, as adjusted at Dec. 31, 2016 | 2,705,084 | 2,409,653 | 295,431 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income/(loss) | 153,592 | 147,920 | 5,672 | |
Other comprehensive income/(loss) | [1] | 10,192 | 10,192 | 0 |
Comprehensive income/(loss) | 163,784 | 158,112 | 5,672 | |
Cash dividends declared: | ||||
Preferred stock ($3,100 per share for the six months ended June 30, 2018 and 2017) | (3,100) | (3,100) | 0 | |
Common stock ($.24 and $.18 per share for the six months ended June 30, 2018 and 2017, respectively) | (42,404) | (42,404) | 0 | |
Common stock repurchased | (4,953) | (4,953) | 0 | |
Common stock issued for: | ||||
Stock options and restricted stock - equity awards | 4,309 | 4,309 | 0 | |
Acquisition equity adjustment | [2] | 0 | 0 | 0 |
Stock-based compensation expense | 9,840 | 9,840 | 0 | |
Dividends declared - noncontrolling interest of subsidiary preferred stock | (5,672) | 0 | (5,672) | |
Balance, June 30 at Jun. 30, 2017 | 2,826,888 | 2,531,457 | 295,431 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income/(loss) | 95,204 | |||
Other comprehensive income/(loss) | 12,496 | |||
Comprehensive income/(loss) | 107,700 | |||
Cash dividends declared: | ||||
Preferred stock ($3,100 per share for the six months ended June 30, 2018 and 2017) | (1,550) | |||
Balance, June 30 at Jun. 30, 2017 | 2,826,888 | 2,531,457 | 295,431 | |
Balance, January 1 at Dec. 31, 2017 | 4,580,488 | 4,285,057 | 295,431 | |
Adjustment to reflect adoption of ASU 2017-12 at Dec. 31, 2017 | 67 | 67 | 0 | |
Beginning balance, as adjusted at Dec. 31, 2017 | 4,580,555 | 4,285,124 | 295,431 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income/(loss) | 180,986 | 175,314 | 5,672 | |
Other comprehensive income/(loss) | [1] | (89,078) | (89,078) | 0 |
Comprehensive income/(loss) | 91,908 | 86,236 | 5,672 | |
Cash dividends declared: | ||||
Preferred stock ($3,100 per share for the six months ended June 30, 2018 and 2017) | (3,100) | (3,100) | 0 | |
Common stock ($.24 and $.18 per share for the six months ended June 30, 2018 and 2017, respectively) | (78,858) | (78,858) | 0 | |
Common stock repurchased | (4,790) | (4,790) | 0 | |
Common stock issued for: | ||||
Stock options and restricted stock - equity awards | 4,421 | 4,421 | 0 | |
Acquisition equity adjustment | [2] | (46,035) | (46,035) | 0 |
Stock-based compensation expense | 11,453 | 11,453 | 0 | |
Dividends declared - noncontrolling interest of subsidiary preferred stock | (5,672) | 0 | (5,672) | |
Other | (133) | (133) | 0 | |
Balance, June 30 at Jun. 30, 2018 | 4,549,749 | 4,254,318 | 295,431 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income/(loss) | 85,992 | |||
Other comprehensive income/(loss) | (22,029) | |||
Comprehensive income/(loss) | 63,963 | |||
Cash dividends declared: | ||||
Preferred stock ($3,100 per share for the six months ended June 30, 2018 and 2017) | (1,550) | |||
Balance, June 30 at Jun. 30, 2018 | $ 4,549,749 | $ 4,254,318 | $ 295,431 | |
[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] | See Note 2- Acquisitions and Divestitures for additional information. |
CONSOLIDATED CONDENSED STATEME7
CONSOLIDATED CONDENSED STATEMENTS OF EQUITY (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Preferred stock - cash dividends declared per share (in dollars per share) | $ 3,100 | $ 3,100 |
Common stock - cash dividends declared per share (in dollars per share) | $ 0.24 | $ 0.18 |
CONSOLIDATED CONDENSED STATEME8
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS $ in Thousands | 6 Months Ended | |||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | |||
Operating Activities | ||||
Net income/(loss) | $ 180,986 | $ 153,592 | ||
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 | 38,030 | (16,862) | ||
Depreciation and amortization of premises and equipment | 23,761 | 16,617 | ||
Amortization of intangible assets | 12,934 | 3,196 | ||
Net other amortization and accretion | (8,945) | 14,288 | ||
Net (increase)/decrease in derivatives | (13,735) | (13,683) | ||
Fair value adjustment on interest-only strips | (1,296) | 0 | ||
Repurchase and foreclosure provision/(provision credit) | 0 | (20,000) | ||
(Gains)/losses and write-downs on OREO, net | 167 | 180 | ||
Litigation and regulatory matters | 688 | (753) | ||
Stock-based compensation expense | 11,453 | 9,840 | ||
Equity securities (gains)/losses, net | (65) | 0 | ||
Debt securities (gains)/losses, net | (52) | (449) | ||
Net (gains)/losses on sale/disposal of fixed assets | (1,614) | (71) | ||
Loans held-for-sale: | ||||
Purchases and originations | (1,132,675) | (549,331) | ||
Gross proceeds from settlements and sales | 524,195 | [1] | 461,119 | [1] |
(Gain)/loss due to fair value adjustments and other | (8,119) | 2,777 | ||
Net (increase)/decrease in: | ||||
Trading securities | 366,476 | (280,135) | ||
Fixed income receivables | 545 | (70,313) | ||
Interest receivable | (9,721) | (2,443) | ||
Other assets | 31,376 | (4,366) | ||
Net increase/(decrease) in: | ||||
Trading liabilities | 105,206 | (6,055) | ||
Fixed income payables | (34,257) | (88,920) | ||
Interest payable | 3,773 | 1,303 | ||
Other liabilities | (44,228) | (52,669) | ||
Total adjustments | (137,103) | (599,730) | ||
Net cash provided/(used) by operating activities | 43,883 | (446,138) | ||
Available-for-sale securities: | ||||
Sales | 13,104 | 63 | ||
Maturities | 320,631 | 268,155 | ||
Purchases | (254,992) | (265,770) | ||
Held-to-maturity securities: | ||||
Prepayments and maturities | 0 | 4,740 | ||
Premises and equipment: | ||||
Sales | 6,566 | 2,103 | ||
Purchases | (25,050) | (20,498) | ||
Proceeds from sales of OREO | 17,513 | 7,340 | ||
Proceeds from BOLI | 7,630 | 5,690 | ||
Net (increase)/decrease in: | ||||
Loans | (18,465) | (404,379) | ||
Interests retained from securitizations classified as trading securities | 567 | 397 | ||
Interest-bearing cash | 434,966 | 490,500 | ||
Cash paid related to divestitures | (27,599) | 0 | ||
Cash (paid)/received for acquisition, net | (46,017) | [2] | (123,971) | [2] |
Net cash provided/(used) by investing activities | 428,854 | (35,630) | ||
Common stock: | ||||
Stock options exercised | 4,420 | 2,823 | ||
Cash dividends paid | (60,752) | (37,809) | ||
Repurchase of shares | (4,790) | (4,953) | ||
Cash dividends paid - preferred stock - noncontrolling interest | (5,703) | (5,672) | ||
Cash dividends paid - Series A preferred stock | (3,100) | (3,100) | ||
Term borrowings: | ||||
Payments/maturities | (5,221) | (7,239) | ||
Increases in restricted and secured term borrowings | 20,965 | 0 | ||
Net increase/(decrease) in: | ||||
Deposits | 387,394 | (338,689) | ||
Short-term borrowings | (780,976) | 917,693 | ||
Net cash provided/(used) by financing activities | (447,763) | 523,054 | ||
Net increase/(decrease) in cash and cash equivalents | 24,974 | 41,286 | ||
Cash and cash equivalents at beginning of period | 1,452,046 | 1,037,794 | ||
Cash and cash equivalents at end of period | 1,477,020 | 1,079,080 | ||
Supplemental Disclosures | ||||
Total interest paid | 133,791 | 61,908 | ||
Total taxes paid | 12,497 | 21,805 | ||
Total taxes refunded | 830 | 8,200 | ||
Transfer from loans to OREO | 4,010 | 3,184 | ||
Transfer from loans HFS to trading securities | 600,168 | $ 265,134 | ||
Portion of Sub-prime Auto Loan Portfolios | ||||
Loans held-for-sale: | ||||
Gross proceeds from settlements and sales | 107,400 | [1] | ||
Supplemental Disclosures | ||||
Loans disposed of | $ 120,000 | |||
[1] | 2018 includes $107.4 million related to the sale of approximately $120 million UPB of subprime auto loans. See Note 2- Acquisitions and Divestitures for additional information. | |||
[2] | See Note 2- Acquisitions and Divestitures for additional information. |
Financial Information
Financial Information | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Financial Information | 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 2018 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, 2017. Revenues. Revenue is recognized when the performance obligations under the terms of a contract with a customer are satisfied in an amount that reflects the consideration FHN expects to be entitled. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized immediately upon completion of the transaction. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. Any services performed over time generally require that FHN render services each period and therefore FHN measures progress in completing these services based upon the passage of time and recognizes revenue as invoiced. Following is a discussion of FHN's key revenues within the scope of Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers", and all related amendments, except as noted. Fixed Income. Fixed income includes fixed income securities sales, trading, and strategies, loan sales and derivative sales which are not within the scope of revenue from contracts with customers. Fixed income also includes investment banking fees earned for services related to underwriting debt securities and performing portfolio advisory services. FHN's performance obligation for underwriting services is satisfied on the trade date while advisory services is satisfied over time. Deposit Transactions and Cash Management. Deposit transactions and cash management activities include fees for services related to consumer and commercial deposit products (such as service charges on checking accounts), cash management products and services such as electronic transaction processing (Automated Clearing House and Electronic Data Interchange), account reconciliation services, cash vault services, lockbox processing, and information reporting to large corporate clients. FHN's obligation for transaction-based services is satisfied at the time of the transaction when the service is delivered while FHN's obligation for service based fees is satisfied over the course of each month. Brokerage, Management Fees and Commissions. Brokerage, management fees and commissions include fees for portfolio management, trade commissions, and annuity and mutual fund sales. Asset-based management fees are charged based on the market value of the client’s assets. The services associated with these revenues, which include investment advice and active management of client assets are generally performed and recognized over a month or quarter. Transactional revenues are based on the size and number of transactions executed at the client’s direction and are generally recognized on the trade date. Trust Services and Investment Management. Trust services and investment management fees include investment management, personal trust, employee benefits, and custodial trust services. Obligations for trust services are generally satisfied over time but may be satisfied at points in time for certain activities that are transactional in nature. Bankcard Income. Bankcard income includes credit interchange and network revenues and various card-related fees. Interchange income is recognized concurrently with the delivery of services on a daily basis. Card-related fees such as late fees, currency conversion, and cash advance fees are loan-related and excluded from the scope of ASU 2014-09. Contract Balances. As of June 30, 2018, accounts receivable related to products and services on non-interest income were $7.7 million . For the three and six months ended June 30, 2018, FHN had no material impairment losses on non-interest accounts receivable and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Condensed Statement of Condition as of June 30, 2018. Transaction Price Allocated to Remaining Performance Obligations. For the three and six months ended June 30, 2018, revenue recognized from performance obligations related to prior periods was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less and contracts where revenue is recognized as invoiced, is not material. Refer to Note 12 - Business Segment Information for a reconciliation of disaggregated revenue by major product line and reportable segment. Debt Investment Securities. Available-for-sale ("AFS") and held-to-maturity (“HTM”) securities are reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review includes an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Debt securities that may be sold prior to maturity are classified as AFS and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses for investment securities are determined by the specific identification method and reported in noninterest income. Declines in value judged to be other-than-temporary based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN has the intent to sell, are also determined by the specific identification method. For HTM debt securities, OTTI recognized is typically credit-related and is reported in noninterest income. For impaired AFS debt securities that FHN does not intend to sell and will not be required to sell prior to recovery but for which credit losses exist, the OTTI recognized is separated between the total impairment related to credit losses which is reported in noninterest income, and the impairment related to all other factors which is excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Statements of Comprehensive Income. Equity Investment Securities. Equity securities were classified as AFS through December 31, 2017. Subsequently, all equity securities are classified in Other assets. National banks chartered by the federal government are, by law, members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank ("FRB"). Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. FRB and FHLB stock are recorded at cost and are subject to impairment reviews. Other equity investments primarily consist of mutual funds which are marked to fair value through earnings. Smaller balances of equity investments without a readily determinable fair value, including FHN's holdings of Visa Class B Common Shares, are recorded at cost minus impairment with adjustments through earnings for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Summary of Accounting Changes. Effective January 1, 2018, FHN adopted the provisions of ASU 2014-09, “Revenue from Contracts with Customers,” and all related amendments to all contracts using a modified retrospective transaction method. 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 and 5) recognition of revenue as performance obligations are satisfied. Additionally, qualitative and quantitative information is required for disclosure regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. 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 good 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. FHN elected to adopt the provisions of the revenue recognition standards through the cumulative effect alternative and determined that there were no significant effects on the timing of recognition, which resulted in no cumulative effect adjustment being required. Beginning in first quarter 2018, in situations where FHN's broker-dealer operations serve as the lead underwriter, the associated revenues and expenses are presented gross. The effect on 2018 revenues and expenses is not expected to be significant. Effective January 1, 2018, FHN adopted the provisions of ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets” through the cumulative effect approach. ASU 2017-05 clarifies the meaning and application of the term "in substance nonfinancial asset" in transactions involving both financial and nonfinancial assets. If substantially all of the fair value of the assets that are promised to the counterparty in a contract are concentrated in nonfinancial assets, then all of the financial assets promised 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 asset 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 distinct 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) transfers 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. FHN determined that there were no significant effects on the timing of revenue recognition, which resulted in no cumulative effect adjustment being required. Effective January 1, 2018, FHN adopted the provisions of 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 value 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 without 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 resulting 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 disclosure requirements, including a provision that all disclosures must use an exit price concept in the determination of fair value. Transition is 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, will have any initial fair value marks recorded through earnings prospectively after adoption. Upon adoption, FHN reclassified $265.9 million of equity investments out of AFS securities to Other assets, leaving only debt securities within the AFS classification. FHN evaluated the nature of its current equity investments (excluding FRB and FHLB stock holdings which are specifically exempted from the provisions of ASU 2016-01) and determined that substantially all qualified for the election available to assets without readily determinable fair values, including its holdings of Visa Class B shares. Accordingly, FHN has applied this election and any future fair value marks for these investments will be recognized through earnings on a prospective basis subsequent to adoption. The requirements of ASU 2016-01 related to assessment of deferred tax assets and disclosure of the fair value of financial instruments did not have a significant effect on FHN because its current accounting and disclosure practices conform to the requirements of ASU 2016-01. Effective January 1, 2018, FHN adopted the provisions of 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 liabilities 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. The adoption of ASU 2016-04 did not have a significant effect on FHN’s current accounting and disclosure practices. Effective January 1, 2018, FHN adopted the provisions of ASU 2016-15, “Classification of Certain Cash Receipts and 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. The adoption of ASU 2016-15 was applied retroactively resulting in proceeds from bank-owned life insurance (“BOLI”) being classified as an investing activity rather than their prior classification as an operating activity. All of these amounts are included in Other assets in the Consolidated Condensed Statement of Condition. The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 (Dollars in thousands) 2017 2016 2015 Proceeds from BOLI $ 4,997 $ 5,690 $ 11,440 $ 2,740 $ 2,425 Effective January 1, 2018, FHN retroactively adopted the provisions of 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. FHN’s disclosures for pension and postretirement costs provide details of the service cost and all other components for expenses recognized for its applicable benefit plans. All of these amounts were previously included in Employee compensation, incentives, and benefits expense in the Consolidated Condensed Statements of Income. Upon adoption of ASU 2017-07 FHN reclassified the expense components other than service cost into All other expense and revised its disclosures accordingly. The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 ( Dollars in thousands ) 2017 2016 2015 Net periodic benefit cost reclassified $ 812 $ 1,250 $ 1,946 $ (843 ) $ (1,168 ) Effective January 1, 2018, FHN early adopted the provisions of 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 extend 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 either 1) debt securities where the prepayment date is not preset or the price is not known in advance or 2) debt securities that qualify for amortization based on estimated prepayment rates. The adoption of ASU 2017-08 did not have an effect on FHN's current investments. Effective January 1, 2018, FHN early adopted the provisions of ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities,” which revises the financial reporting for hedging relationships through changes to both the designation and measurement requirements for qualifying hedge relationships and the presentation of hedge results. ASU 2017-12 expands permissible risk component hedging strategies, including the designation of a contractually specified interest rate (e.g., a bank’s prime rate) in hedges of cash flows from variable rate financial instruments. Additionally, ASU 2017-12 makes significant revisions to fair value hedging activities, including the ability to measure the fair value changes for a hedged item solely for changes in the benchmark interest rate, permitting partial-term hedges, limiting consideration of prepayment risk for hedged debt instruments solely to the effects of changes in the benchmark interest rate and allowing for certain hedging strategies to be applied to closed portfolios of prepayable debt instruments. ASU 2017-12 also provides elections for the exclusion of certain portions of a hedging instrument’s change in fair value from the assessment of hedge effectiveness. If elected, the fair value changes of these excluded components may be recognized immediately or recorded into other comprehensive income with recycling into earnings using a rational and systematic methodology over the life of the hedging instrument. Under ASU 2017-12 some of the documentation requirements for hedge accounting relationships are relaxed, but the highly effective threshold has been retained. Hedge designation documentation and a prospective qualitative assessment are still required at hedge inception, but the initial quantitative analysis may be delayed until the end of the quarter the hedge is commenced. If certain criteria are met, an election can be made to perform future effectiveness assessments using a purely qualitative methodology. ASU 2017-12 also revises the income statement presentation requirements for hedging activities. For fair value hedges, the entire change in the fair value of the hedging instrument included in the assessment of effectiveness is recorded to the same income statement line item used to present the earnings effect of the hedged item. For cash flow hedges, the entire fair value change of the hedging instrument that is included in the assessment of hedge effectiveness is initially recorded in other comprehensive income and later recycled into earnings as the hedged transaction(s) affect net income with the income statement effects recorded in the same financial statement line item used to present the earnings effect of the hedged item. ASU 2017-12 also makes revisions to the current disclosure requirements for hedging activities to reflect the presentation of hedging results consistent with the changes to income statement classification and to improve the disclosure of the hedging results on the balance sheet. FHN early adopted the provisions of ASU 2017-12 in the first quarter of 2018. Prospectively, FHN is recording components of hedging results for its fair value and cash flow hedges previously recognized in other expense within either interest income or interest expense. Additionally, FHN made cumulative effect adjustments to the hedged items, accumulated other comprehensive income and retained earnings as of the beginning of 2018. The magnitude of the cumulative effect adjustments and prospective effects were insignificant for FHN’s hedge relationships. Accounting Changes Issued but Not Currently Effective 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 lease 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 lease 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 relationship 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 of 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 July 2018, the FASB issued ASU 2018-11, “ Leases - Targeted Improvements ,” which provides an election for a cumulative effect adjustment to retained earnings upon initial adoption of ASU 2016-02. Alternatively, under the initial guidance of ASU 2016-02, lessees and lessors are required to recognize and measure leases at the beginning of the earliest comparative period presented using a modified retrospective approach. Both adoption alternatives include a number of optional practical expedients that entities may elect to apply, which would result in continuing 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 each 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 and ASU 2018-11 are 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 accounting and disclosure practices. Upon adoption, FHN intends to utilize the cumulative effect transition alternative provided by ASU 2018-11. In June 2016, the FASB issued ASU 2016-13, “Measurement 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 “incurred 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 disaggregated 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 credit 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 more-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 credit 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 debt 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 expected 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 prospective 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 financial 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 adoption is permitted in fiscal years beginning after December 15, 2018. FHN continues to evaluate the impact of ASU 2016-13. FHN has met with industry experts, initiated training for key employees associated with the new standard, and defined an initial approach that it is currently testing. FHN has begun developing the formal models and processes that will be required to implement the new standard. |
Acquisitions and Divestitures
Acquisitions and Divestitures | 6 Months Ended |
Jun. 30, 2018 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures | Acquisitions and Divestitures On November 30, 2017, FHN completed its acquisition of Capital Bank Financial Corporation ("CBF") and its subsidiaries, including Capital Bank Corporation, for an aggregate of 92,042,232 shares of FHN common stock and $423.6 million in cash in a transaction valued at $2.2 billion . In second quarter 2018, FHN canceled 2,373,220 common shares which had been issued but set aside for certain shareholders of CBF who have commenced a dissenters' appraisal process resulting in a reduction in equity consideration and an increase in cash consideration of $46.0 million . The final appraisal or settlement amount, as applicable, may differ from current estimates. CBF operated 178 branches in North and South Carolina, Tennessee, Florida and Virginia at the time of closing. In relation to the acquisition, FHN acquired approximately $9.9 billion in assets, including approximately $7.3 billion in loans and $1.2 billion in AFS securities, and assumed approximately $8.1 billion of CBF deposits. The following schedule details acquired assets and liabilities and consideration paid, as well as adjustments to record the assets and liabilities at their estimated fair values as of November 30, 2017. These fair value measurements are based on third party and internal valuations. Capital Bank Financial Corporation As Purchase Accounting/Fair Acquired Value Adjustments (unaudited) As recorded (Dollars in thousands) (unaudited) 2017 2018 (a) by FHN Assets: Cash and cash equivalents $ 205,999 $ — $ — $ 205,999 Trading securities 4,758 (4,758 ) (b) — — Loans held-for-sale — 134,003 (9,085 ) 124,918 Securities available-for-sale 1,017,867 175,526 — 1,193,393 Securities held-to-maturity 177,549 (177,549 ) — — Loans 7,596,049 (320,372 ) 867 7,276,544 Allowance for loan losses (45,711 ) 45,711 — — CBF Goodwill 231,292 (231,292 ) — — Other intangible assets 24,498 119,302 (2,593 ) 141,207 Premises and equipment 196,298 37,054 (1,905 ) 231,447 OREO 43,077 (9,149 ) (315 ) 33,613 Other assets 617,232 41,320 (c) (7,528 ) (c) 651,024 Total assets acquired $ 10,068,908 $ (190,204 ) $ (20,559 ) $ 9,858,145 Liabilities: Deposits $ 8,141,593 $ (849 ) $ (642 ) $ 8,140,102 Securities sold under agreements to repurchase 26,664 — — 26,664 Other short-term borrowings 390,391 — — 390,391 Term borrowings 119,486 67,683 — 187,169 Other liabilities 59,995 4,291 2,524 66,810 Total liabilities assumed 8,738,129 71,125 1,882 8,811,136 Net assets acquired $ 1,330,779 $ (261,329 ) $ (22,441 ) 1,047,009 Consideration paid: Equity (1,746,724 ) Cash (469,609 ) Total consideration paid (2,216,333 ) Goodwill $ 1,169,324 (a) Amounts reflect adjustments made to provisional fair value estimates during the measurement period ending November 30, 2018. These adjustments were recorded in FHN's Consolidated Condensed Statement of Condition as of June 30, 2018 with a corresponding adjustment to goodwill. (b) Amount represents a conformity adjustment to align with FHN presentation. (c) Amount primarily relates to a net deferred tax asset recorded for the effects of the purchase accounting adjustments. Due to the timing of merger completion in relation to the previous year end, the fact that back office functions (including loan and deposit processing) only have recently been integrated, the evaluation of post-merger activity, and the extended information gathering and management review processes required to properly record acquired assets and liabilities, FHN considers its valuations of CBF's loans, loans held-for-sale, premises and equipment, OREO, other assets, tax receivables and payables, lease intangibles, other liabilities and acquired contingencies to be provisional as management continues to identify and assess information regarding the nature of these assets and liabilities and reviews the associated valuation assumptions and methodologies. Accordingly, the amounts recorded for current and deferred tax assets and liabilities are also considered provisional as FHN continues to evaluate the nature and extent of permanent and temporary (timing) differences between the book and tax bases of the acquired assets and liabilities assumed. Additionally, the accounting policies of both FHN and CBF are in the process of being reviewed in detail. Upon completion of such review, conforming adjustments or financial statement reclassification may be determined. In relation to the acquisition, FHN has recorded preliminary goodwill of approximately $1.2 billion , representing the excess of acquisition consideration over the estimated fair value of net assets acquired. All expenses related to the merger and integration with CBF are recorded in FHN's Corporate segment. Integration activities were substantially completed in second quarter 2018. Total CBF merger and integration expense recognized for the three and six months ended June 30, 2018 are presented in the table below: June 30, 2018 (Dollars in thousands) Three Months Ended Six Months Ended Professional fees (a) $ 8,989 $ 14,621 Employee compensation, incentives and benefits (b) 2,548 6,494 Contract employment and outsourcing (c) 1,704 3,103 Occupancy (d) 2,214 2,221 Miscellaneous expense (e) 3,103 5,138 All other expense (f) 23,244 40,285 Total $ 41,802 $ 71,862 (a) Primarily comprised of fees for legal, accounting, and merger consultants. (b) Primarily comprised of fees for severance and retention. (c) Primarily relates to fees for temporary assistance for merger and integration activities. (d) Primarily relates to fees associated with lease exit accruals. (e) Consists of fees for Operations services, communications and courier, equipment rentals, depreciation, and maintenance, supplies, travel and entertainment, computer software, and advertising and public relations. (f) Primarily relates to contract termination charges, costs of shareholder matters and asset impairments related to the integration, as well as other miscellaneous expenses. On March 23, 2018, FHN divested two branches, including approximately $30 million of deposits and $2 million of loans, to Apex Bank, a Tennessee banking corporation. The branches, both in Greeneville, Tennessee, were divested in connection with First Horizon's agreement with the U.S. Department of Justice and commitments to the Board of Governors of the Federal Reserve System, which were entered into in connection with a customary review of FHN's merger with CBF. In second quarter 2018, FHN sold approximately $120 million UPB of its subprime auto loans. These loans, originally acquired as part of the CBF acquisition, did not fit within FHN's risk profile. Based on the sales price, a measurement period adjustment to the acquisition-date fair value of the subprime auto loans was recorded in second quarter 2018. On April 3, 2017, FTN Financial acquired substantially all of the assets and assumed substantially all of the liabilities of Coastal Securities, Inc. (“Coastal”), a national leader in the trading, securiti zation, and analysis of Small Business Administration (“SBA”) loans, for appro ximately $131 million in cash. Coastal, which was based in Houston, TX, also traded United States Department of Agriculture (“USDA”) loans and fixed income products and provided 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. In relation to the acquisition, FTN Financial acquired approximately $418 million in assets, inclusive of approximately $236 million of HFS loans and $139 million of trading securities, and assumed approximately $202 million of securities sold under agreements to repurchase and $96 million of fixed income payables. In relation to the acquisition, FHN has recorded $45.0 million in goodwill representing the excess of acquisition consideration over the estimated fair value of net assets acquired. See Note 2- Acquisitions and Divestitures in the Notes to Consolidated Financial Statements on Form 10-K for the year ended December 31, 2017, for additional information about the CBF and Coastal acquisitions. In addition to the transactions mentioned above, FHN acquires or divests assets from time to time in transactions that are considered business combinations or divestitures but are not material to FHN individually or in the aggregate. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The following tables summarize FHN’s investment securities on June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale: U.S. treasuries $ 100 $ — $ (2 ) $ 98 Government agency issued mortgage-backed securities (“MBS”) 2,564,334 4,524 (74,558 ) 2,494,300 Government agency issued collateralized mortgage obligations (“CMO”) 2,180,120 395 (72,935 ) 2,107,580 Other U.S. government agencies 54,797 — (395 ) 54,402 Corporates and other debt 55,609 488 (259 ) 55,838 States and municipalities 6,433 3 (30 ) 6,406 $ 4,861,393 $ 5,410 $ (148,179 ) 4,718,624 AFS debt securities recorded at fair value through earnings: SBA-interest only strips (a) 5,787 Total securities available-for-sale (b) $ 4,724,411 Securities held-to-maturity: Corporates and other debt $ 10,000 $ — $ (214 ) $ 9,786 Total securities held-to-maturity $ 10,000 $ — $ (214 ) $ 9,786 (a) SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value for additional information. (b) Includes $3.7 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. December 31, 2017 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale: U.S. treasuries $ 100 $ — $ (1 ) $ 99 Government agency issued MBS 2,580,442 10,538 (13,604 ) 2,577,376 Government agency issued CMO 2,302,439 1,691 (34,272 ) 2,269,858 Corporates and other debt 55,799 23 (40 ) 55,782 Equity and other (a) 265,863 7 — 265,870 $ 5,204,643 $ 12,259 $ (47,917 ) 5,168,985 AFS debt securities recorded at fair value through earnings: SBA-interest only strips (b) 1,270 Total securities available-for-sale (c) $ 5,170,255 Securities held-to-maturity: Corporates and other debt $ 10,000 $ — $ (99 ) $ 9,901 Total securities held-to-maturity $ 10,000 $ — $ (99 ) $ 9,901 (a) Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $134.6 million . The remainder is money market, mutual funds, and cost method investments. Equity investments were reclassified to Other assets upon adoption of ASU 2016-01 on January 1, 2018. (b) SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. (c) Includes $4.0 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity debt securities portfolios on June 30, 2018 are provided below: Held-to-Maturity Available-for-Sale (Dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Within 1 year $ — $ — $ 15,250 $ 15,042 After 1 year; within 5 years — — 95,255 95,321 After 5 years; within 10 years 10,000 9,786 — 1,360 After 10 years — — 6,434 10,808 Subtotal 10,000 9,786 116,939 122,531 Government agency issued MBS and CMO (a) — — 4,744,454 4,601,880 Total $ 10,000 $ 9,786 $ 4,861,393 $ 4,724,411 (a) 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 debt investment securities for the three and six months ended June 30 , 2018. Equity securities are included for periods prior to 2018. Three Months Ended Six Months Ended June 30 (Dollars in thousands) 2018 2017 2018 2017 Gross gains on sales of securities $ — $ 405 $ 52 $ 449 Gross (losses) on sales of securities — — — — Net gain/(loss) on sales of securities (a) (b) $ — $ 405 $ 52 $ 449 (a) Cash proceeds from the sale of available-for-sale securities for the three and six months ended June 30, 2018 and 2017 were not material. (b) Three and six months ended June 30, 2017 includes a $.4 million gain associated with the call of a $4.4 million held-to-maturity municipal bond. The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of June 30, 2018 and December 31, 2017 : As of June 30, 2018 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. treasuries $ 98 $ (2 ) $ — $ — $ 98 $ (2 ) Government agency issued MBS 1,937,255 (57,182 ) 317,784 (17,376 ) 2,255,039 (74,558 ) Government agency issued CMO 1,278,976 (30,862 ) 754,927 (42,073 ) 2,033,903 (72,935 ) Other U.S. government agencies 54,402 (395 ) — — 54,402 (395 ) Corporates and other debt 40,586 (259 ) — — 40,586 (259 ) States and municipalities 4,724 (30 ) — — 4,724 (30 ) Total temporarily impaired securities $ 3,316,041 $ (88,730 ) $ 1,072,711 $ (59,449 ) $ 4,388,752 $ (148,179 ) As of December 31, 2017 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. treasuries $ 99 $ (1 ) $ — $ — $ 99 $ (1 ) Government agency issued MBS 1,455,476 (4,738 ) 331,900 (8,866 ) 1,787,376 (13,604 ) Government agency issued CMO 1,043,987 (7,464 ) 832,173 (26,808 ) 1,876,160 (34,272 ) Corporates and other debt 15,294 (40 ) — — 15,294 (40 ) Total temporarily impaired securities $ 2,514,856 $ (12,243 ) $ 1,164,073 $ (35,674 ) $ 3,678,929 $ (47,917 ) FHN has reviewed debt 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. The carrying amount of equity investments without a readily determinable fair value was $16.4 million and $16.3 million at June 30, 2018 and January 1, 2018, respectively. The year-to-date 2018 gross amounts of upward and downward valuation adjustments were not significant. Unrealized gains of $.7 million and $1.1 million were recognized in the three and six months ended June 30, 2018, respectively, for equity investments with readily determinable fair values. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loans | Loans The following table provides the balance of loans, net of unearned income, by portfolio segment as of June 30, 2018 and December 31, 2017 : June 30 December 31 (Dollars in thousands) 2018 2017 Commercial: Commercial, financial, and industrial $ 16,438,745 $ 16,057,273 Commercial real estate 4,136,356 4,214,695 Consumer: Consumer real estate (a) 6,222,611 6,367,755 Permanent mortgage 354,916 399,307 Credit card & other 549,112 619,899 Loans, net of unearned income $ 27,701,740 $ 27,658,929 Allowance for loan losses 185,462 189,555 Total net loans $ 27,516,278 $ 27,469,374 (a) Balances as of June 30, 2018 and December 31, 2017 , include $18.9 million and $24.2 million of restricted real estate loans, respectively. See Note 13—Variable Interest Entities for additional information. COMPONENTS OF THE LOAN PORTFOLIO The loan portfolio is disaggregated into segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally determined based on the initial measurement attribute (i.e., amortized cost or purchased credit-impaired), risk characteristics of the loan, and FHN’s method for monitoring and assessing credit risk. Commercial loan portfolio segments include commercial, financial and industrial (“C&I”) and commercial real estate. Commercial classes within C&I include general C&I, loans to mortgage companies, the trust preferred loans (“TRUPS”) (i.e. long-term unsecured loans to bank and insurance-related businesses) portfolio and purchased credit-impaired (“PCI”) loans. Loans to mortgage companies include commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower’s sale of those mortgage loans to third party investors. Commercial classes within CRE include income CRE, residential CRE and PCI loans. 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 (“HELOCs”), 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 ( 24 percent of total loans), the majority of which is in the consumer real estate segment ( 23 percent of total loans). Loans to finance and insurance companies total $2.8 billion ( 17 percent of the C&I portfolio, or 10 percent of the total loans). FHN had loans to mortgage companies totaling $2.4 billion ( 14 percent of the C&I segment, or 9 percent of total loans) as of June 30, 2018 . As a result, 31 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 June 30, 2018 and 2017 : Three Months Ended Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Balance, beginning of period $ 15,323 $ 5,198 $ 15,623 $ 6,871 Accretion (2,607 ) (919 ) (4,744 ) (1,770 ) Adjustment for payoffs (1,107 ) (761 ) (1,719 ) (1,034 ) Adjustment for charge-offs (373 ) — (924 ) — Adjustment for pool excess recovery (a) — — — (222 ) Increase/(decrease) in accretable yield (b) 3,481 409 6,659 114 Disposals (214 ) — (240 ) — Other (29 ) 118 (181 ) 86 Balance, end of period $ 14,474 $ 4,045 $ 14,474 $ 4,045 Certain previously reported amounts have been reclassified to agree with current presentation. (a) Represents the removal of accretable difference for the remaining loans in a pool which is now in a recovery state. (b) Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing and amounts of the cash flows. At June 30, 2018 , the ALLL related to PCI loans was $3.0 million compared to $3.2 million at December 31, 2017 . A loan loss provision expense related to PCI loans of $1.8 million was recognized during the three months ended June 30, 2018 , as compared to a loan loss provision credit of $.1 million recognized during the three months ended June 30, 2017 . A loan loss provision expense related to PCI loans of $2.6 million was recognized during the six months ended June 30, 2018 , as compared to a loan loss provision credit of $.2 million recognized during the six months ended June 30, 2017 . The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 (Dollars in thousands) Carrying value Unpaid balance Carrying value Unpaid balance Commercial, financial and industrial $ 54,143 $ 60,727 $ 96,598 $ 109,280 Commercial real estate 27,042 31,181 36,107 41,488 Consumer real estate 35,674 39,920 38,176 42,568 Credit card and other 2,969 3,381 5,500 6,351 Total $ 119,828 $ 135,209 $ 176,381 $ 199,687 Certain previously reported amounts have been reclassified to agree with current presentation. Impaired Loans The following tables provide information at June 30, 2018 and December 31, 2017 , 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, excluding any valuation allowance but including any direct write-down of the investment. For purposes of this disclosure, PCI loans and the TRUPs valuation allowance have been excluded. June 30, 2018 December 31, 2017 (Dollars in thousands) Recorded Unpaid Related Recorded Unpaid Related Impaired loans with no related allowance recorded: Commercial: General C&I $ 25,924 $ 37,325 $ — $ 8,183 $ 17,372 $ — Income CRE 1,748 1,748 — — — — Residential CRE 504 972 — — — — Total $ 28,176 $ 40,045 $ — $ 8,183 $ 17,372 $ — Consumer: HELOC (a) $ 8,811 $ 17,299 $ — $ 9,258 $ 19,193 $ — R/E installment loans (a) 3,370 3,834 — 4,093 4,663 — Permanent mortgage (a) 4,195 6,586 — 5,132 7,688 — Total $ 16,376 $ 27,719 $ — $ 18,483 $ 31,544 $ — Impaired loans with related allowance recorded: Commercial: General C&I $ 3,692 $ 3,692 $ 288 $ 31,774 $ 38,256 $ 5,119 TRUPS 2,983 3,700 925 3,067 3,700 925 Income CRE — — — 1,612 1,612 49 Residential CRE — — — 795 1,263 83 Total $ 6,675 $ 7,392 $ 1,213 $ 37,248 $ 44,831 $ 6,176 Consumer: HELOC $ 70,739 $ 73,717 $ 12,641 $ 72,469 $ 75,207 $ 14,382 R/E installment loans 39,415 40,168 7,758 43,075 43,827 8,793 Permanent mortgage 72,666 83,678 10,787 79,662 90,934 12,105 Credit card & other 604 604 305 593 593 311 Total $ 183,424 $ 198,167 $ 31,491 $ 195,799 $ 210,561 $ 35,591 Total commercial $ 34,851 $ 47,437 $ 1,213 $ 45,431 $ 62,203 $ 6,176 Total consumer $ 199,800 $ 225,886 $ 31,491 $ 214,282 $ 242,105 $ 35,591 Total impaired loans $ 234,651 $ 273,323 $ 32,704 $ 259,713 $ 304,308 $ 41,767 (a) All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. Three Months Ended June 30 Six Months Ended June 30 2018 2017 2018 2017 (Dollars in thousands) Average Interest Average Interest Average Interest Average Interest Impaired loans with no related allowance recorded: Commercial: General C&I $ 24,825 $ 183 $ 9,941 $ — $ 20,389 $ 358 $ 10,174 $ — Income CRE 1,665 13 — — 1,228 25 — — Residential CRE 500 — — — 374 — — — Total $ 26,990 $ 196 $ 9,941 $ — $ 21,991 $ 383 $ 10,174 $ — Consumer: HELOC (a) $ 9,034 $ — $ 10,331 $ — $ 9,145 $ — $ 10,692 $ — R/E installment loans (a) 3,553 — 3,925 — 3,733 — 3,931 — Permanent mortgage (a) 4,749 — 5,854 — 4,983 — 5,705 — Total $ 17,336 $ — $ 20,110 $ — $ 17,861 $ — $ 20,328 $ — Impaired loans with related allowance recorded: Commercial: General C&I $ 8,850 $ — $ 28,402 $ 189 $ 15,870 $ — $ 30,632 $ 403 TRUPS 3,005 — 3,160 — 3,026 — 3,178 — Income CRE — — 1,767 14 403 — 1,792 28 Residential CRE — — 1,293 5 199 — 1,293 10 Total $ 11,855 $ — $ 34,622 $ 208 $ 19,498 $ — $ 36,895 $ 441 Consumer: HELOC $ 70,789 $ 578 $ 78,608 $ 577 $ 71,222 $ 1,155 $ 80,841 $ 1,141 R/E installment loans 40,280 251 49,373 317 41,195 518 50,637 635 Permanent mortgage 74,227 574 81,475 574 75,976 1,152 83,626 1,189 Credit card & other 653 3 315 3 650 6 301 5 Total $ 185,949 $ 1,406 $ 209,771 $ 1,471 $ 189,043 $ 2,831 $ 215,405 $ 2,970 Total commercial $ 38,845 $ 196 $ 44,563 $ 208 $ 41,489 $ 383 $ 47,069 $ 441 Total consumer $ 203,285 $ 1,406 $ 229,881 $ 1,471 $ 206,904 $ 2,831 $ 235,733 $ 2,970 Total impaired loans $ 242,130 $ 1,602 $ 274,444 $ 1,679 $ 248,393 $ 3,214 $ 282,802 $ 3,411 (a) 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 between grading categories. It is also integral to the estimation methodology utilized in determining the allowance for loan losses since an allowance is established for pools of commercial loans based on the credit grade assigned. Each PD grade corresponds to an estimated one-year default probability percentage; a PD 1 has the lowest expected default probability, and probabilities increase as grades progress down the scale. PD 1 through PD 12 are “pass” grades. PD grades 13 - 16 correspond to the regulatory-defined categories of special mention ( 13 ), substandard ( 14 ), doubtful ( 15 ), and loss ( 16 ). Pass loan grades are required to be reassessed annually or earlier whenever there has been a material change in the financial condition of the borrower or risk characteristics of the relationship. All commercial loans over $1 million and certain commercial loans over $500,000 that are graded 13 or worse are reassessed on a quarterly basis. Loan grading discipline is regularly reviewed internally by Credit Assurance Services 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 system. The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) General C&I Loans to Mortgage Companies TRUPS (a) Income CRE Residential CRE Total Percentage of Total Allowance for Loan Losses PD Grade: 1 $ 547,654 $ — $ — $ 2,104 $ — $ 549,758 3 % $ 64 2 840,122 — — 10,236 41 850,399 4 280 3 633,000 727,078 — 255,090 214 1,615,382 8 255 4 845,405 586,315 — 457,716 — 1,889,436 9 700 5 1,892,574 347,919 63,017 463,421 1,421 2,768,352 13 8,003 6 1,475,963 426,654 90,296 447,840 6,117 2,446,870 12 8,830 7 2,387,509 109,693 65,193 499,585 5,054 3,067,034 15 14,442 8 1,078,583 70,924 4,068 220,208 11,600 1,385,383 7 19,828 9 2,604,602 86,253 45,117 1,382,306 60,385 4,178,663 20 22,349 10 371,017 — 18,536 54,896 3,488 447,937 2 8,782 11 257,439 — — 40,893 341 298,673 1 7,509 12 300,482 — — 110,184 6,306 416,972 2 5,802 13 247,731 — 17,621 57,845 9 323,206 2 8,895 14,15,16 209,046 — — 8,874 800 218,720 1 21,434 Collectively evaluated for impairment 13,691,127 2,354,836 303,848 4,011,198 95,776 20,456,785 99 127,173 Individually evaluated for impairment 29,617 — 2,982 1,748 504 34,851 — 1,213 Purchased credit-impaired loans 56,335 — — 23,781 3,349 83,465 1 2,280 Total commercial loans $ 13,777,079 $ 2,354,836 $ 306,830 $ 4,036,727 $ 99,629 $ 20,575,101 100 % $ 130,666 (a) Balances presented net of a $25.5 million valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade was “ 13 ” prior to second quarter 2018. In second quarter 2018, this portfolio was re-graded to align with the scorecard grading methodologies which resulted in upgrades to a majority of this portfolio. December 31, 2017 (Dollars in thousands) General C&I Loans to Mortgage Companies TRUPS (a) Income CRE Residential CRE Total Percentage of Total Allowance for Loan Losses PD Grade: 1 $ 536,244 $ — $ — $ 2,500 $ — $ 538,744 3 % $ 70 2 877,635 — — 1,798 69 879,502 4 339 3 582,224 652,982 — 210,073 40 1,445,319 7 272 4 959,581 629,432 — 309,699 — 1,898,712 9 854 5 1,461,632 328,477 — 415,764 2,474 2,208,347 11 7,355 6 1,668,247 335,169 — 456,706 3,179 2,463,301 12 10,495 7 2,257,400 47,720 — 554,590 9,720 2,869,430 14 13,490 8 1,092,994 35,266 — 241,938 6,454 1,376,652 7 21,831 9 2,633,854 70,915 — 1,630,176 61,475 4,396,420 22 9,804 10 373,537 — — 43,297 4,590 421,424 2 8,808 11 226,382 — — 31,785 2,936 261,103 1 6,784 12 409,838 — — 156,717 6,811 573,366 3 5,882 13 202,613 — 303,848 15,707 268 522,436 3 7,265 14,15,16 228,852 — — 6,587 823 236,262 1 24,400 Collectively evaluated for impairment 13,511,033 2,099,961 303,848 4,077,337 98,839 20,091,018 99 117,649 Individually evaluated for impairment 39,957 — 3,067 1,612 795 45,431 — 6,176 Purchased credit-impaired loans 99,407 — — 31,615 4,497 135,519 1 2,813 Total commercial loans $ 13,650,397 $ 2,099,961 $ 306,915 $ 4,110,564 $ 104,131 $ 20,271,968 100 % $ 126,638 (a) Balances presented net of a $25.5 million valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade was “ 13 ” prior to second quarter 2018. In second quarter 2018, this portfolio was re-graded to align with the scorecard grading methodologies which resulted in upgrades to a majority of this portfolio. 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 the 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 June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 HELOC R/E Installment Loans Permanent Mortgage HELOC R/E Installment Loans Permanent Mortgage FICO score 740 or greater 61.4 % 74.8 % 50.4 % 60.0 % 73.1 % 46.4 % FICO score 720-739 8.7 7.7 10.2 8.7 8.0 12.8 FICO score 700-719 7.9 6.1 9.2 8.3 6.4 9.2 FICO score 660-699 10.7 6.7 13.9 11.1 7.2 14.8 FICO score 620-659 4.8 2.6 6.8 4.9 2.8 7.3 FICO score less than 620 (a) 6.5 2.1 9.5 7.0 2.5 9.5 Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % (a) 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 June 30, 2018 : Accruing Non-Accruing (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Total Accruing Current 30-89 Days Past Due 90+ Days Past Due Total Non- Accruing Total Loans Commercial (C&I): General C&I $ 13,696,352 $ 7,518 $ 639 $ 13,704,509 $ 9,358 $ 510 $ 6,367 $ 16,235 $ 13,720,744 Loans to mortgage companies 2,354,836 — — 2,354,836 — — — — 2,354,836 TRUPS (a) 303,848 — — 303,848 — — 2,982 2,982 306,830 Purchased credit-impaired loans 41,046 850 14,439 56,335 — — — — 56,335 Total commercial (C&I) 16,396,082 8,368 15,078 16,419,528 9,358 510 9,349 19,217 16,438,745 Commercial real estate: Income CRE 4,010,460 1,436 — 4,011,896 43 96 911 1,050 4,012,946 Residential CRE 95,887 — — 95,887 — — 393 393 96,280 Purchased credit-impaired loans 25,926 968 236 27,130 — — — — 27,130 Total commercial real estate 4,132,273 2,404 236 4,134,913 43 96 1,304 1,443 4,136,356 Consumer real estate: HELOC 1,557,368 13,302 7,669 1,578,339 46,823 4,157 8,852 59,832 1,638,171 R/E installment loans 4,511,603 10,938 6,014 4,528,555 14,766 1,721 3,083 19,570 4,548,125 Purchased credit-impaired loans 31,886 3,819 610 36,315 — — — — 36,315 Total consumer real estate 6,100,857 28,059 14,293 6,143,209 61,589 5,878 11,935 79,402 6,222,611 Permanent mortgage 323,736 2,391 4,419 330,546 13,143 259 10,968 24,370 354,916 Credit card & other: Credit card 189,849 1,097 1,055 192,001 — — — — 192,001 Other 347,702 5,534 460 353,696 100 51 209 360 354,056 Purchased credit-impaired loans 1,310 1,366 379 3,055 — — — — 3,055 Total credit card & other 538,861 7,997 1,894 548,752 100 51 209 360 549,112 Total loans, net of unearned income $ 27,491,809 $ 49,219 $ 35,920 $ 27,576,948 $ 84,233 $ 6,794 $ 33,765 $ 124,792 $ 27,701,740 (a) 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, 2017 : Accruing Non-Accruing (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Total Accruing Current 30-89 Days Past Due 90+ Days Past Due Total Non- Accruing Total Loans Commercial (C&I): General C&I $ 13,514,752 $ 8,057 $ 95 $ 13,522,904 $ 1,761 $ 7,019 $ 19,306 $ 28,086 $ 13,550,990 Loans to mortgage companies 2,099,961 — — 2,099,961 — — — — 2,099,961 TRUPS (a) 303,848 — — 303,848 — — 3,067 3,067 306,915 Purchased credit-impaired loans 77,843 2,207 19,357 99,407 — — — — 99,407 Total commercial (C&I) 15,996,404 10,264 19,452 16,026,120 1,761 7,019 22,373 31,153 16,057,273 Commercial real estate: Income CRE 4,077,106 1,240 — 4,078,346 56 — 546 602 4,078,948 Residential CRE 98,844 — — 98,844 — — 791 791 99,635 Purchased credit-impaired loans 31,173 2,686 2,253 36,112 — — — — 36,112 Total commercial real estate 4,207,123 3,926 2,253 4,213,302 56 — 1,337 1,393 4,214,695 Consumer real estate: HELOC 1,743,776 17,744 9,702 1,771,222 40,508 3,626 8,354 52,488 1,823,710 R/E installment loans 4,475,669 7,274 3,573 4,486,516 14,439 1,957 2,603 18,999 4,505,515 Purchased credit-impaired loans 35,356 2,016 1,158 38,530 — — — — 38,530 Total consumer real estate 6,254,801 27,034 14,433 6,296,268 54,947 5,583 10,957 71,487 6,367,755 Permanent mortgage 365,527 3,930 3,460 372,917 13,245 1,052 12,093 26,390 399,307 Credit card & other: Credit card 193,940 1,371 1,053 196,364 — — — — 196,364 Other 415,070 2,666 103 417,839 31 — 165 196 418,035 Purchased credit-impaired loans 2,993 1,693 814 5,500 — — — — 5,500 Total credit card & other 612,003 5,730 1,970 619,703 31 — 165 196 619,899 Total loans, net of unearned income $ 27,435,858 $ 50,884 $ 41,568 $ 27,528,310 $ 70,040 $ 13,654 $ 46,925 $ 130,619 $ 27,658,929 (a) 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 difficulty and it is determined that FHN has granted a concession to the borrower. FHN may determine that a borrower is experiencing financial difficulty if the borrower is currently in default on any of its debt, or if it is probable that a borrower may default in the foreseeable future. Many aspects of a borrower’s financial situation are assessed when determining whether they are experiencing financial difficulty. 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 loans 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 modified by reducing the interest rate (in increments of 25 basis points to a minimum of 1 percent for up to 5 years ) and a possible maturity date extension to reach an affordable housing debt-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 increases 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 reaches the Federal Home Loan Mortgage Corporation Weekly Survey Rate cap. Contractual maturities may be extended to 40 years on permanent mortgages and to 30 years for consumer real estate loans. Within the credit card class of the consumer portfolio segment, TDRs are typically modified through either a short-term credit card hardship program or a longer-term credit card workout program. In the credit card hardship program, borrowers may be granted rate and payment reductions for 6 months to 1 year . In the credit card workout program, customers are granted a rate reduction to 0 percent and term extensions for up to 5 years to pay off the remaining balance. Despite the absence of a loan modification, the discharge of personal liability through bankruptcy proceedings is considered a concession. As a result, FHN classifies all non-reaffirmed residential real estate loans discharged in Chapter 7 bankruptcy as nonaccruing TDRs. On June 30, 2018 and December 31, 2017 , FHN had $217.6 million and $234.4 million of portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $31.5 million , or 14 percent as of June 30, 2018 , and $37.3 million , or 16 percent as of December 31, 2017 . Additionally, $60.5 million and $63.2 million of loans held-for-sale as of June 30, 2018 and December 31, 2017 , respectively, were classified as TDRs. The following tables reflect portfolio loans that were classified as TDRs during the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 (Dollars in thousands) Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial (C&I): General C&I 3 $ 544 $ 537 8 $ 2,048 $ 1,751 Total commercial (C&I) 3 544 537 8 2,048 1,751 Commercial real estate: Income CRE 3 201 195 3 201 195 Total commercial real estate 3 201 195 3 201 195 Consumer real estate: HELOC 34 3,824 3,806 64 6,584 6,539 R/E installment loans 10 772 770 15 1,383 1,382 Total consumer real estate 44 4,596 4,576 79 7,967 7,921 Permanent mortgage 4 434 440 5 709 713 Credit card & other 27 95 94 68 305 291 Total troubled debt restructurings 81 $ 5,870 $ 5,842 163 $ 11,230 $ 10,871 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (Dollars in thousands) Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial (C&I): General C&I 1 $ 815 $ 799 2 $ 842 $ 836 Total commercial (C&I) 1 815 799 2 842 836 Consumer real estate: HELOC 27 2,293 2,270 62 4,882 4,743 R/E installment loans 14 799 782 28 1,756 1,684 Total consumer real estate 41 3,092 3,052 90 6,638 6,427 Permanent mortgage 4 699 693 9 2,009 1,996 Credit card & other 23 144 140 29 165 160 Total troubled debt restructurings 69 $ 4,750 $ 4,684 130 $ 9,654 $ 9,419 The following tables present TDRs which re-defaulted during the three and six months ended June 30, 2018 and 2017 , 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. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 (Dollars in thousands) Number Recorded Investment Number Recorded Investment Commercial (C&I): General C&I 1 $ 258 1 $ 258 Total commercial (C&I) 1 258 1 258 Consumer real estate: HELOC 2 95 4 164 R/E installment loans 1 25 1 25 Total consumer real estate 3 120 5 189 Permanent mortgage 1 293 2 405 Credit card & other 12 75 26 156 Total troubled debt restructurings 17 $ 746 34 $ 1,008 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (Dollars in thousands) Number Recorded Investment Number Recorded Investment Commercial (C&I): General C&I 2 $ 2,228 3 $ 8,007 Total commercial (C&I) 2 2,228 3 8,007 Consumer real estate: HELOC — — 4 685 Total consumer real estate — — 4 685 Permanent mortgage 1 538 1 538 Credit card & other 1 11 3 18 Total troubled debt restructurings 4 $ 2,777 11 $ 9,248 |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Allowance for Loan Losses The ALLL includes the following components: reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous 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 adjustments 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, unemployment levels, labor participation rate, regulatory guidance, and both positive and negative portfolio segment-specific trends, are examples of additional factors considered by management in determining the ALLL. Additionally, management considers the inherent uncertainty of quantitative models that are driven by historical loss data. Management evaluates the periods of historical losses that are the basis for the loss rates used in the quantitative models and selects historical loss periods that are believed to be the most reflective of losses inherent in the loan portfolio as of the balance sheet date. Management also periodically reviews analysis of the loss emergence period which is the amount of time it takes for a loss to be confirmed (initial charge-off) after a loss event has occurred. FHN performs extensive studies as it relates to the historical loss periods used in the model and the loss emergence period and model assumptions are adjusted accordingly. The ALLL also includes reserves determined in accordance with ASC 310-10-35 for loans determined by management to be individually impaired and an allowance associated with PCI loans. See Note 1 – Summary of Significant Accounting Policies and Note 5 - Allowance for Loan Losses in the Notes to Consolidated Financial Statements on FHN’s Form 10-K for the year ended December 31, 2017 , for additional information about the policies and methodologies used in the aforementioned components of the ALLL. The following table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2018 and 2017 : (Dollars in thousands) C&I Commercial Real Estate Consumer Real Estate Permanent Mortgage Credit Card and Other Total Balance as of April 1, 2018 $ 100,238 $ 29,057 $ 32,750 $ 15,435 $ 9,714 $ 187,194 Charge-offs (3,287 ) (228 ) (1,481 ) (300 ) (4,712 ) (10,008 ) Recoveries 1,036 75 5,444 631 1,090 8,276 Provision/(provision credit) for loan losses (1,153 ) 4,928 (4,944 ) (1,688 ) 2,857 — Balance as of June 30, 2018 96,834 33,832 31,769 14,078 8,949 185,462 Balance as of January 1, 2018 $ 98,211 $ 28,427 $ 37,371 $ 15,565 $ 9,981 $ 189,555 Charge-offs (5,362 ) (272 ) (3,392 ) (460 ) (9,005 ) (18,491 ) Recoveries 2,555 81 9,827 696 2,239 15,398 Provision/(provision credit) for loan losses 1,430 5,596 (12,037 ) (1,723 ) 5,734 (1,000 ) Balance as of June 30, 2018 96,834 33,832 31,769 14,078 8,949 185,462 Allowance - individually evaluated for impairment 1,213 — 20,399 10,787 305 32,704 Allowance - collectively evaluated for impairment 93,429 33,744 10,730 3,291 8,557 149,751 Allowance - purchased credit-impaired loans 2,192 88 640 — 87 3,007 Loans, net of unearned as of June 30, 2018: Individually evaluated for impairment 32,599 2,252 122,335 76,861 604 234,651 Collectively evaluated for impairment 16,349,811 4,106,974 6,063,961 278,055 545,453 27,344,254 Purchased credit-impaired loans 56,335 27,130 36,315 — 3,055 122,835 Total loans, net of unearned income $ 16,438,745 $ 4,136,356 $ 6,222,611 $ 354,916 $ 549,112 $ 27,701,740 Balance as of April 1, 2017 $ 93,107 $ 30,888 $ 49,680 $ 15,893 $ 12,400 $ 201,968 Charge-offs (1,865 ) (20 ) (3,951 ) (843 ) (3,151 ) (9,830 ) Recoveries 600 140 5,143 488 748 7,119 Provision/(provision credit) for loan losses 537 (538 ) (4,803 ) 860 1,944 (2,000 ) Balance as of June 30, 2017 92,379 30,470 46,069 16,398 11,941 197,257 Balance as of January 1, 2017 $ 89,398 $ 33,852 $ 50,357 $ 16,289 $ 12,172 $ 202,068 Charge-offs (2,465 ) (20 ) (7,800 ) (1,326 ) (6,632 ) (18,243 ) Recoveries 2,276 361 10,819 1,391 1,585 16,432 Provision/(provision credit) for loan losses 3,170 (3,723 ) (7,307 ) 44 4,816 (3,000 ) Balance as of June 30, 2017 92,379 30,470 46,069 16,398 11,941 197,257 Allowance - individually evaluated for impairment 3,641 176 27,149 11,858 161 42,985 Allowance - collectively evaluated for impairment 88,609 30,277 18,536 4,540 11,780 153,742 Allowance - purchased credit-impaired loans 129 17 384 — — 530 Loans, net of unearned as of June 30, 2017: Individually evaluated for impairment 38,034 3,024 137,999 85,913 360 265,330 Collectively evaluated for impairment 12,538,913 2,204,947 4,278,063 322,182 353,135 19,697,240 Purchased credit-impaired loans 21,272 4,025 1,397 — 55 26,749 Total loans, net of unearned income $ 12,598,219 $ 2,211,996 $ 4,417,459 $ 408,095 $ 353,550 $ 19,989,319 |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets The following is a summary of other intangible assets included in the Consolidated Condensed Statements of Condition: June 30, 2018 December 31, 2017 (Dollars in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Gross Carrying Amount Accumulated Amortization Net Carrying Value Core deposit intangibles (a) $ 157,150 $ (18,146 ) $ 139,004 $ 160,650 $ (8,176 ) $ 152,474 Customer relationships 77,865 (53,211 ) 24,654 77,865 (50,777 ) 27,088 Other (b) 5,622 (1,325 ) 4,297 5,622 (795 ) 4,827 Total $ 240,637 $ (72,682 ) $ 167,955 $ 244,137 $ (59,748 ) $ 184,389 (a) 2018 decrease in gross carrying amounts associated with the sale of two CBF branches and purchase accounting measurement period adjustments related to the CBF acquisition. See Note 2 - Acquisitions and Divestitures for additional information. (b) Balance primarily includes noncompete covenants, as well as $ .3 million related to state banking licenses not subject to amortization. Amortization expense was $6.5 million and $2.0 million for the three months ended June 30, 2018 and 2017 , respectively and $12.9 million and $3.2 million for six months ended June 30, 2018 and 2017 , respectively. As of June 30, 2018 the estimated aggregated amortization expense is expected to be: (Dollars in thousands) Year Amortization Remainder of 2018 $ 12,931 2019 24,834 2020 21,159 2021 19,547 2022 17,412 2023 16,117 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 to the non-strategic segment as of June 30, 2018 and December 31, 2017 . 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 included in the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017 . (Dollars in thousands) Regional Banking Fixed Income Total December 31, 2016 $ 93,367 $ 98,004 $ 191,371 Additions (a) — 44,964 44,964 June 30, 2017 $ 93,367 $ 142,968 $ 236,335 December 31, 2017 $ 1,243,885 $ 142,968 $ 1,386,853 Additions (a) 22,423 — 22,423 June 30, 2018 $ 1,266,308 $ 142,968 $ 1,409,276 (a) 2017 increase associated with the Coastal acquisition, 2018 increase associated with measurement period adjustments for the CBF acquisition. See Note 2 - Acquisitions and Divestitures for additional information. |
Other Income And Other Expense
Other Income And Other Expense | 6 Months Ended |
Jun. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income And Other Expense | 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 Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 All other income and commissions: Other service charges $ 3,728 $ 3,109 $ 8,076 $ 6,093 ATM and interchange fees 3,413 3,083 6,680 5,861 Dividend income (a) 3,124 — 5,373 — Mortgage banking 2,431 1,268 4,977 2,529 Letter of credit fees 1,295 1,122 2,544 2,158 Electronic banking fees 1,228 1,306 2,432 2,629 Deferred compensation 991 1,491 1,442 3,318 Insurance commissions 476 592 1,233 1,475 Other 2,748 2,646 9,920 4,945 Total $ 19,434 $ 14,617 $ 42,677 $ 29,008 All other expense: Travel and entertainment $ 5,131 $ 3,162 $ 8,114 $ 5,510 Other insurance and taxes 2,752 2,443 5,417 4,833 Supplies 1,987 1,093 3,823 1,956 Employee training and dues 1,849 1,453 3,628 2,996 Non-service components of net periodic pension and post-retirement cost 1,530 851 2,034 1,328 Customer relations 1,358 1,543 2,421 2,879 Tax credit investments 1,079 942 2,216 1,884 Miscellaneous loan costs 1,035 699 2,177 1,321 OREO 810 446 918 650 Litigation and regulatory matters 16 533 2,150 241 Other (b) 33,452 12,051 53,433 20,843 Total $ 50,999 $ 25,216 $ 86,331 $ 44,441 Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2017-07 “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” See Note 1 - Financial Information for additional information. (a) Effective January 1, 2018, FHN adopted ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” and began recording dividend income from FRB and FHLB holdings in Other income. Prior to first quarter 2018 these amounts were included in Interest income on the Consolidated Condensed Statements of Income. (b) Expense increase for the three and six months ended June 30, 2018 largely attributable to acquisition- and integration-related expenses associated with the CBF acquisition. See Note 2 - Acquisitions and Divestitures for additional information. |
Components of Other Comprehensi
Components of Other Comprehensive Income/(Loss) | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Components of Other Comprehensive Income/(Loss) | 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 and six months ended June 30, 2018 and 2017 : (Dollars in thousands) Securities AFS Cash Flow Pension and Total Balance as of April 1, 2018 $ (86,382 ) $ (16,763 ) $ (286,940 ) $ (390,085 ) Net unrealized gains/(losses) (21,094 ) (3,457 ) — (24,551 ) Amounts reclassified from AOCI — 463 2,059 2,522 Other comprehensive income/(loss) (21,094 ) (2,994 ) 2,059 (22,029 ) Balance as of June 30, 2018 $ (107,476 ) $ (19,757 ) $ (284,881 ) $ (412,114 ) Balance as of January 1, 2018 $ (26,834 ) $ (7,764 ) $ (288,227 ) $ (322,825 ) Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 (5 ) (206 ) — (211 ) Beginning balance, as adjusted $ (26,839 ) $ (7,970 ) $ (288,227 ) $ (323,036 ) Net unrealized gains/(losses) (80,598 ) (12,095 ) — (92,693 ) Amounts reclassified from AOCI (39 ) 308 3,346 3,615 Other comprehensive income/(loss) (80,637 ) (11,787 ) 3,346 (89,078 ) Balance as of June 30, 2018 $ (107,476 ) $ (19,757 ) $ (284,881 ) $ (412,114 ) (Dollars in thousands) Securities AFS Cash Flow Hedges Pension and Post-retirement Plans Total Balance as of April 1, 2017 $ (18,795 ) $ (3,179 ) $ (227,984 ) $ (249,958 ) Net unrealized gains/(losses) 9,188 3,059 — 12,247 Amounts reclassified from AOCI (250 ) (904 ) 1,403 249 Other comprehensive income/(loss) 8,938 2,155 1,403 12,496 Balance as of June 30, 2017 $ (9,857 ) $ (1,024 ) $ (226,581 ) $ (237,462 ) Balance as of January 1, 2017 $ (17,232 ) $ (1,265 ) $ (229,157 ) $ (247,654 ) Net unrealized gains/(losses) 7,652 1,997 — 9,649 Amounts reclassified from AOCI (277 ) (1,756 ) 2,576 543 Other comprehensive income/(loss) 7,375 241 2,576 10,192 Balance as of June 30, 2017 $ (9,857 ) $ (1,024 ) $ (226,581 ) $ (237,462 ) Reclassifications from AOCI, and related tax effects, were as follows: (Dollars in thousands) Three Months Ended Six Months Ended June 30 Details about AOCI 2018 2017 2018 2017 Affected line item in the statement where net income is presented Securities AFS: Realized (gains)/losses on securities AFS $ — $ (405 ) $ (52 ) $ (449 ) Debt securities gains/(losses), net Tax expense/(benefit) — 155 13 172 Provision/(benefit) for income taxes — (250 ) (39 ) (277 ) Cash flow hedges: Realized (gains)/losses on cash flow hedges 615 (1,465 ) 409 (2,845 ) Interest and fees on loans Tax expense/(benefit) (152 ) 561 (101 ) 1,089 Provision/(benefit) for income taxes 463 (904 ) 308 (1,756 ) Pension and Postretirement Plans: Amortization of prior service cost and net actuarial gain/(loss) 2,735 2,273 4,444 4,173 All other expense Tax expense/(benefit) (676 ) (870 ) (1,098 ) (1,597 ) Provision/(benefit) for income taxes 2,059 1,403 3,346 2,576 Total reclassification from AOCI $ 2,522 $ 249 $ 3,615 $ 543 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 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 Six Months Ended (Dollars and shares in thousands, except per share data) 2018 2017 2018 2017 Net income/(loss) $ 85,992 $ 95,204 $ 180,986 $ 153,592 Net income attributable to noncontrolling interest 2,852 2,852 5,672 5,672 Net income/(loss) attributable to controlling interest 83,140 92,352 175,314 147,920 Preferred stock dividends 1,550 1,550 3,100 3,100 Net income/(loss) available to common shareholders $ 81,590 $ 90,802 $ 172,214 $ 144,820 Weighted average common shares outstanding—basic 325,153 233,482 325,817 233,280 Effect of dilutive securities 3,273 2,781 3,536 2,945 Weighted average common shares outstanding—diluted 328,426 236,263 329,353 236,225 Net income/(loss) per share available to common shareholders $ 0.25 $ 0.39 $ 0.53 $ 0.62 Diluted income/(loss) per share available to common shareholders $ 0.25 $ 0.38 $ 0.52 $ 0.61 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 Six Months Ended (Shares in thousands) 2018 2017 2018 2017 Stock options excluded from the calculation of diluted EPS 2,446 2,721 2,428 2,512 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 24.38 $ 25.24 $ 24.60 $ 25.85 Other equity awards excluded from the calculation of diluted EPS 565 482 404 247 |
Contingencies And Other Disclos
Contingencies And Other Disclosures | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies and Other Disclosures | 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 federal, state, and local regulators, from other government authorities, and from other parties concerning various matters relating to FHN’s current or former businesses. Certain matters of that sort are pending at this time, and FHN is cooperating in those matters. Pending and threatened litigation matters sometimes are settled by the parties, and sometimes pending matters are resolved in court or before an arbitrator. Regardless of the manner of resolution, frequently the most significant changes in status of a matter occur over a short time period, often following a lengthy period of little substantive activity. In view of the inherent difficulty of predicting the outcome of these matters, particularly where the claimants seek very large or indeterminate damages, or where the cases present novel legal theories or involve a large number of parties, or where claims or other actions may be possible but have not been brought, FHN cannot reasonably determine what the eventual outcome of the 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, except for matters that are reported as having been substantially settled or otherwise substantially resolved, FHN's “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; (ii) FHN has determined material loss to be probable but is not reasonably able to estimate an amount or range of material loss liability; or (iii) FHN has determined that material loss is not probable but is reasonably possible, and that the amount or range of that 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 outcome 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 the liability for litigation matters each quarter as the matters progress. At June 30, 2018 , the aggregate amount of liabilities established for all such loss contingency matters was $41.3 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 June 30, 2018 , 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 $21 million . As a result of the general uncertainties discussed above and the specific uncertainties discussed for each matter mentioned below, it is possible that the ultimate future loss experienced by FHN for any particular matter may materially exceed the amount, if any, of currently established liability for that matter. That possibility exists both for matters included in the estimated reasonably possible 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 relating 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 liability and RPL estimates for this matter are subject to significant uncertainties regarding: the dollar amounts claimed; the potential remedies that might be available or awarded; the outcome of any settlement discussions that may occur; the availability of significantly dispositive defenses; and the incomplete status of the discovery process. 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 indemnity 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 involving FH proprietary securitizations FHN is unable to estimate an RPL range due to significant uncertainties regarding: claims as to which the claimant specifies no dollar amount; the potential remedies that might be available or awarded; the availability of significantly dispositive defenses such as statutes of limitations or repose; the outcome of potentially dispositive early-stage motions such as motions to dismiss; the incomplete status of the discovery process; the lack of a precise statement of damages; and lack of precedent claims. The alleged purchase prices of the certificates subject to pending indemnification claims, excluding the FDIC-New York matter, total $231.2 million . FHN has received a notice of indemnification claims from Nationstar Mortgage LLC, currently doing business as “Mr. Cooper.” Nationstar was the purchaser of FHN’s mortgage servicing obligations and assets in 2013 and 2014 and, starting in 2011, FHN’s subservicer. The notice asserts several categories of indemnity obligations by FHN to Nationstar in connection with mortgage loans under the subservicing arrangement and under the purchase transaction. This matter currently is not in formal litigation, but litigation in the future is possible. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regarding: the exact nature of each of Nationstar’s claims and its position in respect of each; the number of, and the facts underlying, the claimed instances of indemnifiable events; the applicability of FHN’s contractual indemnity covenants to those facts and events; and, in those cases where the facts and events might support an indemnity claim, whether any legal defenses, counterclaims, other counter-positions, or third-party claims might eliminate or reduce claims against FHN or their impact on FHN. In 2018, FHN received an indemnification notice from JPMorgan Chase & Co. related to other whole loans sold. The notice asserts that FHN-originated loans contributed to claimant’s losses in connection with large settlements that claimant paid to various third parties in connection with mortgage loans securitized by claimant. The notice does not include specific claimed deficiencies for specific loans, but does assert that quantitative analysis of loss allocation has been performed. This matter, currently at an early stage, may result in discussions and possibly settlement without litigation, or may evolve into litigation, among many possible outcomes. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regarding: the number of, and the facts underlying, the loan originations which claimant asserts are indemnifiable; the applicability of FHN’s contractual indemnity covenants to those facts and originations; and, in those cases where an indemnity claim may be supported, whether any legal defenses, counterclaims, other counter-positions, or third-party claims might eliminate or reduce claims against FHN or their impact on FHN. FHN has additional potential exposures related to its former mortgage businesses. A few of those matters have become litigation which FHN currently estimates are immaterial, 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, including indemnity payments, 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.” 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 single-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 originations, 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 only 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 purchasers 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 damages, 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 conducted, 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 conducted 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 contracted 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-Related 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 incurred. 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 loans sold. FHN has not received a loan repurchase or make-whole claim from the FH proprietary securitization trustee. Generally, FHN reviews each claim and 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 a substantial majority of potential claims. Starting in 2014, the overall number of such claims diminished substantially, primarily 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 defects (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 cancellations 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-Agency 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 repurchase/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 assert 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 time, 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 platform 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 its 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 obligations 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 with 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. Origination Data From 2005 through 2008, FHN originated and sold $69.5 billion of mortgage loans connected with 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 through 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 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 levels 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 exposures and has accrued for losses of $ 32.9 million and $34.2 million as of June 30, 2018 and December 31, 2017 , 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 liabilities 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 estimates are based upon currently available information and fact patterns that exist as of each balance sheet date 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 Mortgage Exposures At June 30, 2018 , 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 warranties in FH proprietary securitizations at closing, and no such claims had been made. 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 applicable 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 securitizations 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 from 2008 to 2014, FHN has limited visibility into current loan information such as principal payoffs, refinance activity, delinquency trends, and loan modification activity. Many non-GSE purchasers 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. Typically, 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 repurchase 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 defendant; (ii) FHN has received subpoenas seeking loan reviews in cases where FHN is not a defendant; and (iii) FHN has received repurchase, indemnity, and other demands from purchasers or their assignees. At June 30, 2018 , FHN’s repurchase and foreclosure liability considered certain known exposures from other whole loans sold. OTHER DISCLOSURES Visa Matters FHN is a member of the Visa USA network. In October 2007, the Visa organization of affiliated entities completed a series of global restructuring transactions to combine its affiliated operating companies, including Visa USA, under a single holding company, Visa Inc. (“Visa”). Upon completion of the reorganization, the members of the Visa USA network remained contingently liable for certain Visa litigation matters (the “Covered Litigation”). Based on its proportionate membership share of Visa USA, FHN recognized a contingent liability in fourth quarter 2007 related to this contingent obligation. In March 2008, Visa completed its initial public offering (“IPO”) and funded an escrow account from its IPO proceeds to be used to make payments related to the Visa litigation matters. FHN received approximately 2.4 million Class B shares in conjunction with Visa’s IPO. Conversion of these shares into Class A shares of Visa is prohibited until the final resolution of the covered litigation. In conjunction with the prior sales of Visa Class B shares in December 2010 and September 2011, FHN and the purchasers entered into derivative transactions whereby FHN will make, or receive, cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. The conversion ratio is adjusted when Visa deposits funds into the escrow account to cover certain litigation. As of June 30, 2018 and December 31, 2017 , the derivative liabilities were $ 9.4 million and $5.6 million , respectively. In July 2012, Visa and MasterCard announced a joint settlement (the “Settlement”) related to the Payment Card Interchange matter, one of the Covered Litigation matters. Based on the amount of the Settlement attributable to Visa and an assessment of FHN’s contingent liability accrued for Visa litigation matters, the Settlement did not have a material impact on FHN. The Settlement was vacated upon appeal in June 2016 and the Supreme Court declined to hear the case in March 2017. Accordingly, the outcome of this matter remains uncertain. Additionally, other Covered Litigation matters are also pending judicial resolution. So long as any Covered Litigation matter remains pending, FHN’s ability to transfer its Visa holdings is restricted, with limited exceptions. FHN holds approximately 1.0 million Visa Class B shares. FHN’s Visa shares are not considered to have a readily determinable fair value ("RDFV") and are currently included in the Consolidated Condensed Statements of Condition at their historical cost of $0 under the accounting election available to equity investments that lack an RDFV. The conversion ratio is 163 percent reflecting a Visa 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. Assuming conversion into Class A shares at the current conversion ratio, FHN’s Visa holdings would have had a value of approximately $226 million , based on the closing price on June 30, 2018 . Recognition of market value in the future with that conversion ratio 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 warranties for underwriting agreements, merger and acquisition agreements, loan sales, contractual commitments, and various other business transactions or arrangements. The extent of FHN’s obligations under these agreements depends upon the occurrence of future events; therefore, it is not possible to estimate a maximum potential amount of payouts that could be required by such agreements. |
Pension, Savings, And Other Emp
Pension, Savings, And Other Employee Benefits | 6 Months Ended |
Jun. 30, 2018 | |
Retirement Benefits [Abstract] | |
Pension, Savings, and Other Employee Benefits | Pension, Savings, and Other Employee Benefits Pension plan. FHN sponsors a noncontributory, qualified defined benefit pension plan to employees hired or re-hired on or before September 1, 2007. Pension benefits are based on years of service, average compensation near retirement or other termination, and estimated social security benefits at age 65 . Benefits under the plan are “frozen” so that years of service and compensation changes after 2012 do not affect the benefit owed. Minimum contributions are based upon actuarially determined amounts necessary to fund the total benefit obligation. Decisions to contribute to the plan are based upon pension funding requirements under 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 made an insignificant contribution to the qualified pension plan in the second quarter of 2018. Management does not currently anticipate that FHN will make a contribution to the qualified pension plan for the remainde r of 2018. FHN assumed two additional qualified plans in conjunction with the CBF acquisition. Both legacy CBF plans are frozen. FHN contributed $5.1 million to these plans in December 2017. As of December 31, 2017, the aggregate benefit obligation for the plans was $18.7 million and aggregate plan assets were $18.6 million . Benefit payments, expense and actuarial gains/losses related to these plans were insignificant for 2018 and 2017. Additional funding amounts to these plans are dependent upon the potential settlement of the plans. Due to the insignificant financial statement impact, these two plans are not included in the disclosures that follow. FHN also maintains non-qualified plans including a supplemental retirement plan that covers certain employees whose benefits under the qualified pension plan have been limited by tax rules. These other non-qualified plans are unfunded, and contributions to these plans cover all benefits paid under the non-qualified plans. Payments made under the non-qualified plans were $5.4 million for 2017 . FHN anticipates making benefit payments under the non-qualified plans of $5.7 million in 2018 . Savings plan. FHN provides all qualifying full-time employees with the opportunity to participate in FHN's tax qualifi ed 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. Through a non-qualified savings restoration plan, FHN provides a restorative benefit to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. Other employee benefits. FHN provides postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees. The postretirement medical plan is contributory with FHN contributing a fixed amount for certain participants. FHN’s postretirement benefits include certain prescription drug benefits. Service cost is included in Employee compensation, incentives, and benefits in the Consolidated Condensed Statements of Income. All other components of net periodic benefit cost are included in All other expense. The components of net periodic benefit cost for the three months ended June 30 are as follows: Pension Benefits Other Benefits (Dollars in thousands) 2018 2017 2018 2017 Components of net periodic benefit cost Service cost $ 10 $ 10 $ 34 $ 27 Interest cost 6,987 7,380 327 325 Expected return on plan assets (8,226 ) (8,890 ) (269 ) (237 ) Amortization of unrecognized: Prior service cost/(credit) — 13 — 24 Actuarial (gain)/loss 2,956 2,380 (91 ) (143 ) Net periodic benefit cost/(credit) $ 1,727 $ 893 $ 1 $ (4 ) The components of net periodic benefit cost for the six months ended June 30 are as follows: Pension Benefits Other Benefits (Dollars in thousands) 2018 2017 2018 2017 Components of net periodic benefit cost Service cost $ 20 $ 19 $ 67 $ 54 Interest cost 13,973 14,759 654 651 Expected return on plan assets (16,451 ) (17,781 ) (538 ) (474 ) Amortization of unrecognized: Prior service cost/(credit) — 26 — 48 Actuarial (gain)/loss 5,912 4,760 (182 ) (285 ) Net periodic benefit cost/(credit) $ 3,454 $ 1,783 $ 1 $ (6 ) |
Business Segment Information
Business Segment Information | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segment Information | 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, North Carolina, South Carolina, Florida and other selected markets. Regional banking also provides investments, wealth management, financial planning, trust services and asset management, mortgage banking, 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, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales. The corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, derivative valuation adjustments related to prior sales of Visa Class B shares, and acquisition- and integration-related costs. The non-strategic segment consists of run-off consumer lending activities, legacy (pre-2009) mortgage banking elements, 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 and six months ended June 30 : Three Months Ended Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Consolidated Net interest income $ 310,932 $ 200,701 $ 612,105 $ 390,409 Provision/(provision credit) for loan losses — (2,000 ) (1,000 ) (3,000 ) Noninterest income 127,525 127,673 263,542 244,612 Noninterest expense 332,768 217,917 646,033 440,122 Income/(loss) before income taxes 105,689 112,457 230,614 197,899 Provision/(benefit) for income taxes 19,697 17,253 49,628 44,307 Net income/(loss) $ 85,992 $ 95,204 $ 180,986 $ 153,592 Average assets $ 40,173,712 $ 28,876,350 $ 40,261,729 $ 28,841,422 Three Months Ended Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Regional Banking Net interest income $ 308,870 $ 201,658 $ 607,569 $ 394,740 Provision/(provision credit) for loan losses 6,139 260 11,451 3,358 Noninterest income 78,568 64,740 157,421 123,718 Noninterest expense 212,445 152,637 417,646 300,687 Income/(loss) before income taxes 168,854 113,501 335,893 214,413 Provision/(benefit) for income taxes 39,634 41,015 78,996 77,491 Net income/(loss) $ 129,220 $ 72,486 $ 256,897 $ 136,922 Average assets $ 28,746,968 $ 18,432,141 $ 28,611,686 $ 18,195,201 Fixed Income Net interest income $ 9,174 $ 4,985 $ 17,637 $ 6,141 Noninterest income 38,363 55,207 83,968 106,030 Noninterest expense 48,300 54,022 98,844 102,729 Income/(loss) before income taxes (763 ) 6,170 2,761 9,442 Provision/(benefit) for income taxes (414 ) 1,941 328 2,959 Net income/(loss) $ (349 ) $ 4,229 $ 2,433 $ 6,483 Average assets $ 3,251,876 $ 2,696,144 $ 3,365,912 $ 2,288,083 Corporate Net interest income/(expense) $ (14,002 ) $ (14,637 ) $ (27,192 ) $ (28,408 ) Noninterest income 8,848 6,219 18,327 11,695 Noninterest expense 66,020 24,566 117,136 41,440 Income/(loss) before income taxes (71,174 ) (32,984 ) (126,001 ) (58,153 ) Provision/(benefit) for income taxes (21,691 ) (35,574 ) (34,135 ) (48,503 ) Net income/(loss) $ (49,483 ) $ 2,590 $ (91,866 ) $ (9,650 ) Average assets $ 6,956,898 $ 6,226,499 $ 7,033,090 $ 6,789,515 Non-Strategic Net interest income $ 6,890 $ 8,695 $ 14,091 $ 17,936 Provision/(provision credit) for loan losses (6,139 ) (2,260 ) (12,451 ) (6,358 ) Noninterest income 1,746 1,507 3,826 3,169 Noninterest expense 6,003 (13,308 ) 12,407 (4,734 ) Income/(loss) before income taxes 8,772 25,770 17,961 32,197 Provision/(benefit) for income taxes 2,168 9,871 4,439 12,360 Net income/(loss) $ 6,604 $ 15,899 $ 13,522 $ 19,837 Average assets $ 1,217,970 $ 1,521,566 $ 1,251,041 $ 1,568,623 Certain previously reported amounts have been reclassified to agree with current presentation. The following table reflects a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, 2018 (Dollars in thousands) Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income (a) $ 130 $ 37,567 $ — $ — $ 37,697 Deposit transactions and cash management 34,522 3 1,497 61 36,083 Brokerage, management fees and commissions 13,740 — — — 13,740 Trust services and investment management 8,146 — (14 ) — 8,132 Bankcard income 6,658 — 55 (78 ) 6,635 Bank-owned life insurance (b) — — 5,773 — 5,773 Debt securities gains/(losses), net (b) — — — — — Equity securities gains/(losses), net (b) — — 31 — 31 All other income and commissions (c) 15,372 793 1,506 1,763 19,434 Total noninterest income $ 78,568 $ 38,363 $ 8,848 $ 1,746 $ 127,525 Three Months Ended June 30, 2017 Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income $ 139 $ 54,971 $ — $ — $ 55,110 Deposit transactions and cash management 26,433 — 1,376 49 27,858 Brokerage, management fees and commissions 12,029 — — — 12,029 Trust services and investment management 7,712 — (14 ) — 7,698 Bankcard income 5,495 — 57 53 5,605 Bank-owned life insurance — — 4,351 — 4,351 Debt securities gains/(losses), net 386 — 19 — 405 Equity securities gains/(losses), net — — — — — All other income and commissions 12,546 236 430 1,405 14,617 Total noninterest income $ 64,740 $ 55,207 $ 6,219 $ 1,507 $ 127,673 (a) Includes $7.3 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("ASC") 606, "Revenue From Contracts With Customers." (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. Six Months Ended June 30, 2018 (Dollars in thousands) Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income (a) $ 211 $ 82,992 $ — $ — $ 83,203 Deposit transactions and cash management 69,262 6 2,691 108 72,067 Brokerage, management fees and commissions 27,223 — — — 27,223 Trust services and investment management 15,438 — (29 ) — 15,409 Bankcard income 12,951 — 112 17 13,080 Bank-owned life insurance (b) — — 9,766 — 9,766 Debt securities gains/(losses), net (b) — — 52 — 52 Equity securities gains/(losses), net (b) — — 65 — 65 All other income and commissions (c) (d) 32,336 970 5,670 3,701 42,677 Total noninterest income $ 157,421 $ 83,968 $ 18,327 $ 3,826 $ 263,542 Six Months Ended June 30, 2017 Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income $ 213 $ 105,575 $ — $ — $ 105,788 Deposit transactions and cash management 49,667 — 2,665 91 52,423 Brokerage, management fees and commissions 23,935 — — — 23,935 Trust services and investment management 14,392 — (41 ) — 14,351 Bankcard income 10,837 — 113 110 11,060 Bank-owned life insurance — — 7,598 — 7,598 Debt securities gains/(losses), net 386 — 63 — 449 Equity securities gains/(losses), net — — — — — All other income and commissions 24,288 455 1,297 2,968 29,008 Total noninterest income $ 123,718 $ 106,030 $ 11,695 $ 3,169 $ 244,612 (a) Includes $15.6 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("ASC") 606, "Revenue From Contracts With Customers." (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. (d) Corporate includes a $3.3 million gain on the sale of a building. |
Variable Interest Entities
Variable Interest Entities | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | 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 receive 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 exclusive of variable interests. Under ASC 810, as amended, a primary beneficiary is required to consolidate a VIE when it has a variable interest in a VIE that provides it with a controlling financial interest. For such purposes, the determination of whether a controlling financial interest exists is based on whether a single party has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant. Consolidated Variable Interest Entities FHN holds variable interests in a proprietary 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 mortgage service rights ("MSR") and a residual interest results in FHN potentially absorbing 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 results in the recognition of the trust proceeds as restricted borrowings since the cash flows on the securitized loans can only be used to settle the obligations due to the holders of trust securities. Through first quarter 2016 the trust experienced a rapid amortization period and FHN was obligated to provide subordinated funding. During the period, cash payments from borrowers were accumulated to repay outstanding debt securities while FHN continued to make advances to borrowers when they drew on their lines of credit. FHN then transferred 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 losses requiring draws on the related monoline insurers’ policies (which protect bondholders in the securitization) exceed a certain level, FHN may not receive reimbursement for all of the funds advanced to borrowers, as the senior bondholders and the monoline insurers typically have priority for repayment. 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 warranties made by FHN in connection with the sale of the loans to the trust, the creditors of the trust hold no recourse to the assets of FHN. FHN has established certain rabbi trusts related to deferred compensation plans offered to its employees. FHN contributes employee cash compensation deferrals to the trusts and directs the underlying investments made by the trusts. The assets of these trusts are available to FHN’s creditors only in the event that FHN becomes insolvent. These trusts are considered VIEs as there is no equity at risk in the trusts since FHN provided the equity interest to its employees in exchange for services rendered. FHN is considered the primary beneficiary of the rabbi trusts as it has the power to direct the activities that most significantly impact the economic performance of the rabbi trusts through its ability to direct the underlying investments made by the trusts. Additionally, FHN could potentially receive benefits or absorb losses that are significant to the trusts due to its right to receive any asset values in excess of liability payoffs and its obligation to fund any liabilities to employees that are in excess of a rabbi trust’s assets. The following table summarizes VIEs consolidated by FHN as of June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 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 18,921 N/A 24,175 N/A Less: Allowance for loan losses — N/A — N/A Total net loans 18,921 N/A 24,175 N/A Other assets 38 $ 82,802 47 $ 80,479 Total assets $ 18,959 $ 82,802 $ 24,222 $ 80,479 Liabilities: Term borrowings $ 6,004 N/A $ 11,226 N/A Other liabilities 1 $ 61,925 2 $ 61,733 Total liabilities $ 6,005 $ 61,925 $ 11,228 $ 61,733 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 qualifying residential tenants generally within FHN’s primary geographic region. LIHTC partnerships are considered VIEs as FTHC, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. FTHC could absorb losses that are significant to the LIHTC partnerships as it has a risk of loss for its capital contributions and funding commitments to each partnership. The general partners are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the entities’ economic performance and the managing members are exposed to all losses beyond FTHC’s initial capital 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 $.9 million and $.5 million for three months ended June 30, 2018 and 2017 , respectively and $1.9 million and $1.1 million for six months ended June 30, 2018 and 2017 , respectively. The following table summarizes the impact to the Provision/(benefit) for income taxes on the Consolidated Condensed Statements of Income for the three and six months ended June 30, 2018 , and 2017 for LIHTC investments accounted for under the proportional amortization method. Three Months Ended Six Months Ended ( Dollars in thousands ) 2018 2017 2018 2017 Provision/(benefit) for income taxes: Amortization of qualifying LIHTC investments $ 2,191 $ 2,362 $ 4,547 $ 4,640 Low income housing tax credits (2,560 ) (2,598 ) (5,097 ) (4,998 ) Other tax benefits related to qualifying LIHTC investments (894 ) (910 ) (1,584 ) (1,829 ) 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 reinvestment initiatives. The activities of the LLCs include providing investment capital for low-income communities within FHN’s primary geographic region. A portion of the funding of FTNMC’s investment in a NMTC LLC is obtained via a loan from an unrelated third-party that is typically a community development enterprise. The NMTC LLCs are considered VIEs as FTNMC, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. While FTNMC could absorb losses that are significant to the NMTC LLCs as it has a risk of loss for its initial capital contributions, the managing members are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the NMTC LLCs’ economic performance and the managing members are exposed to all losses beyond FTNMC’s initial capital contributions. 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 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 capital contributions and funding 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 rights for the trusts’ activities. The trusts’ only assets are junior subordinated debentures of the issuing enterprises. The creditors of the trusts hold no recourse to the assets of FTBNA. These trusts meet the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. Based on the nature of the trusts’ activities and the size of FTBNA’s holdings, FTBNA could potentially receive benefits or absorb losses that are significant to the trusts regardless of whether a majority of a trust’s securities are held by FTBNA. However, since FTBNA is solely a holder of the trusts’ securities, it has no rights which would give it the power to direct the activities that most significantly impact the trusts’ economic performance and thus it is not considered the primary beneficiary of the trusts. FTBNA has no contractual requirements to provide financial support to the trusts. On-Balance Sheet Trust Preferred Securitization. In 2007, FTBNA executed a securitization of certain small issuer trust preferreds for which the underlying trust meets the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entity’s economic performance. FTBNA could potentially receive benefits or absorb losses that are significant to the trust based on the size and priority of the interests it retained in the securities issued by the trust. However, since FTBNA did not retain servicing or other decision making rights, FTBNA is not the primary beneficiary as it does not have the power to direct the activities that most significantly impact the trust’s economic performance. Accordingly, FTBNA has accounted for the funds received through the securitization as a term borrowing in its Consolidated Condensed Statements of Condition. FTBNA has no contractual requirements to provide financial support to the trust. Proprietary Residential Mortgage Securitizations. FHN holds variable interests (primarily principal-only strips) in proprietary residential mortgage securitization trusts it established prior to 2008 as a source of liquidity for its mortgage banking operations. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trusts, the creditors of the trusts hold no recourse to the assets of FHN. Additionally, FHN has no contractual requirements to provide financial support to the trusts. Based on their restrictive nature, the trusts are considered VIEs as the holders of equity at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. However, FHN did not have the ability to participate in significant portions of a securitization trust’s cash flows and FHN was not considered the primary beneficiary of the trust. Therefore, these trusts were not consolidated by FHN. Holdings in Agency Mortgage-Backed Securities. FHN holds securities issued by various Agency securitization trusts. Based on their restrictive nature, the trusts meet the definition of a VIE since the holders of the equity investments at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entities’ economic performance. FHN could potentially receive benefits or absorb losses that are significant to the trusts based on the nature of the trusts’ activities and the size of FHN’s holdings. However, FHN is solely a holder of the trusts’ securities and does not have the power to direct the activities that most significantly impact the trusts’ economic performance, and is not considered the primary beneficiary of the trusts. FHN has no contractual requirements to provide financial support to the trusts. Commercial Loan Troubled Debt Restructurings. For certain troubled commercial loans, FTBNA restructures the terms of the borrower’s debt in an effort to increase the probability of receipt of amounts contractually due. Following a troubled debt restructuring, the borrower entity typically meets the definition of a VIE as the initial determination of whether an entity is a VIE must be reconsidered as events have proven that the entity’s equity is not sufficient to permit it to finance its activities without additional subordinated financial support or a restructuring of the terms of its financing. As FTBNA does not have the power to direct the activities that most significantly impact such troubled commercial borrowers’ operations, it is not considered the primary beneficiary even in situations where, based on the size of the financing provided, FTBNA is exposed to potentially significant benefits and losses of the borrowing entity. FTBNA has no contractual requirements to provide financial support to the borrowing entities beyond certain funding commitments established upon restructuring of the terms of the debt that allows for preparation of the underlying collateral for sale. Sale Leaseback Transaction . FTB has entered into an agreement with a single asset leasing entity for the sale and leaseback of an office building. 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 building. 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 VIE as it does not have sufficient equity at risk since FTB is providing the funding for the purchase and renovation. A related party 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 beneficiary. Therefore, FTB does not consolidate the leasing entity. Proprietary Trust Preferred Issuances . In conjunction with the acquisition of CBF, FHN acquired junior subordinated debt totaling $212.4 million underlying multiple issuances of trust preferred debt by institutions previously acquired by CBF. All of these trusts are considered VIEs because the ownership interests from the capital contributions to these trusts are not considered “at risk” in evaluating whether the holders of the equity investments at risk in the trusts have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entities’ economic performance. Thus, FHN cannot be the trusts’ primary beneficiary because its ownership interests in the trusts are not considered variable interests as they are not considered “at risk”. Consequently, none of the trusts are consolidated by FHN. The following table summarizes FHN’s nonconsolidated VIEs as of June 30, 2018 : (Dollars in thousands) Maximum Loss Exposure Liability Recognized Classification Type Low income housing partnerships $ 96,289 $ 36,968 (a) Other tax credit investments (b) (c) 19,023 — Other assets Small issuer trust preferred holdings (d) 332,370 — Loans, net of unearned income On-balance sheet trust preferred securitization 48,479 65,695 (e) Proprietary residential mortgage securitizations 1,724 — Trading securities Holdings of agency mortgage-backed securities (d) 5,092,123 — (f) Commercial loan troubled debt restructurings (g) 18,612 — Loans, net of unearned income Sale-leaseback transaction 14,827 — (h) Proprietary trust preferred issuances (i) — 212,378 Term borrowings (a) Maximum loss exposure represents $59.3 million of current investments and $37.0 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 2020. (b) A liability is not recognized as investments are written down over the life of the related tax credit. (c) Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. (d) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (e) Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $65.7 million classified as Term borrowings. (f) Includes $.5 billion classified as Trading securities and $4.6 billion classified as Securities available-for-sale. (g) Maximum loss exposure represents $17.8 million of current receivables and $.8 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (h) Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. (i) No exposure to loss due to nature of FHN's involvement. The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2017 : (Dollars in thousands) Maximum Loss Exposure Liability Recognized Classification Type Low income housing partnerships $ 94,798 $ 33,348 (a) Other tax credit investments (b) (c) 20,394 — Other assets Small issuer trust preferred holdings (d) 332,455 — Loans, net of unearned income On-balance sheet trust preferred securitization 48,817 65,357 (e) Proprietary residential mortgage securitizations 2,151 — Trading securities Holdings of agency mortgage-backed securities (d) 5,349,287 — (f) Commercial loan troubled debt restructurings (g) 19,411 — Loans, net of unearned income Sale-leaseback transaction 14,827 — (h) Proprietary trust preferred issuances (i) — 212,378 Term borrowings (a) Maximum loss exposure represents $61.5 million of current investments and $33.3 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 2020. (b) A liability is not recognized as investments are written down over the life of the related tax credit. (c) Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. (d) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (e) Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $65.4 million classified as Term borrowings. (f) Includes $.5 billion classified as Trading securities and $4.8 billion classified as Securities available-for-sale. (g) Maximum loss exposure represents $19.1 million of current receivables and $ .3 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (h) Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. (i) No exposure to loss due to nature of FHN's involvement. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | 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/Liability Committee (“ALCO”) controls, coordinates, and monitors the usage and effectiveness of these financial instruments. Credit risk represents the potential loss that may occur if a party to a transaction fails to perform according to the terms of the contract. The measure of credit exposure is the replacement cost of contracts with a positive fair value. FHN manages credit risk by entering into financial instrument transactions through national exchanges, primary dealers or approved counterparties, and by using mutual margining and master netting agreements whenever possible to limit potential exposure. FHN also maintains collateral posting requirements with certain counterparties to limit credit risk. One central clearinghouse considers daily margin posted or received as legal settlements of the related derivative contracts. This results in these amounts being 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 applicable derivative contracts. On June 30, 2018 and December 31, 2017 , respectively, FHN had $80.5 million and $60.3 million of cash receivables and $98.8 million and $49.7 million of cash payables related to collateral posting under master netting arrangements, inclusive of collateral posted related to contracts with adjustable collateral posting thresholds and over-collateralized positions, with derivative counterparties. With exchange-traded contracts, the credit risk is limited to the clearinghouse used. For non-exchange traded instruments, credit risk may occur when there is a gain in the fair value of the financial instrument and the counterparty fails to perform according to the terms of the contract and/or when the collateral proves to be of insufficient value. See additional discussion regarding master netting agreements and collateral posting requirements later in this note under the heading “Master Netting and Similar Agreements.” Market risk represents the potential loss due to the decrease in the value of a financial instrument caused primarily by changes in interest rates or the prices of debt instruments. FHN manages market risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. FHN continually measures this risk through the use of models that measure value-at-risk and earnings-at-risk. Derivative Instruments. FHN enters into various derivative contracts both in a dealer capacity to facilitate customer transactions and as a risk management tool. Where contracts have been created for customers, FHN enters into 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 are also used as a risk management tool to hedge FHN’s exposure to changes in interest rates or other defined market risks. Forward contracts are over-the-counter contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Futures contracts are exchange-traded contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Interest rate option contracts give the purchaser the right, but not the obligation, to buy or sell a specified quantity of a financial instrument, at a specified price, during a specified period of time. Caps and floors are options that are linked to a notional principal amount and an underlying indexed interest rate. Interest rate swaps involve the exchange of interest payments at specified intervals between two parties without the exchange of any underlying principal. Swaptions are options on interest rate swaps that give the purchaser the right, but not the obligation, to enter into an interest rate swap agreement during a specified period of time. Trading Activities FHN’s fixed income segment trades U.S. Treasury, U.S. Agency, government-guaranteed loan, 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 also 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 procedures. Total trading revenues were $29.9 million and $45.6 million for the three months ended June 30, 2018 and 2017 , and $68.0 million and $88.3 million for the six months ended June 30, 2018 and 2017, respectively. Trading revenues are inclusive of both derivative and non-derivative financial instruments, and are included in fixed income noninterest income. The following tables summarize FHN’s derivatives associated with fixed income trading activities as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Notional Assets Liabilities Customer interest rate contracts $ 2,204,706 $ 9,837 $ 48,272 Offsetting upstream interest rate contracts 2,204,706 46,619 9,676 Option contracts purchased 70,000 58 — Forwards and futures purchased 5,466,761 16,942 1,902 Forwards and futures sold 5,556,237 2,185 16,836 December 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer interest rate contracts $ 2,026,753 $ 22,097 $ 18,323 Offsetting upstream interest rate contracts 2,026,753 17,931 20,720 Option contracts purchased 20,000 15 — Forwards and futures purchased 6,257,140 4,354 5,526 Forwards and futures sold 6,292,012 5,806 4,010 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 value of long term debt is recognized as an adjustment of the interest expense of the liabilities whose risk is being managed. FHN’s interest rate risk management policy is to use derivatives to hedge interest rate risk or market value of assets or liabilities, not to speculate. In addition, FHN has entered into certain interest rate swaps and caps as a part of a product offering to commercial customers that includes customer derivatives paired with upstream offsetting market instruments that, when completed, are designed to mitigate interest rate risk. These contracts do not qualify for hedge accounting and are measured at fair value with gains or losses included in current earnings in Noninterest expense on the Consolidated Condensed Statements of Income. FHN has 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 not significant as of June 30, 2018 and was $ .1 million in Derivative assets as of December 31, 2017 . 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 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 not significant as of June 30, 2018 and was $ .2 million in Derivative assets as of December 31, 2017 . The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 1,843,573 $ 6,180 $ 42,760 Offsetting upstream interest rate contracts 1,843,573 40,026 6,383 Debt Hedging Hedging Instruments: Interest rate swaps $ 900,000 $ 22 $ 4 Hedged Items: Term borrowings: Par N/A N/A $ 900,000 Cumulative fair value hedging adjustments N/A N/A (21,542 ) Unamortized premium/(discount) and issuance costs N/A N/A (3,103 ) Total carrying value N/A N/A 875,355 December 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 1,608,912 $ 11,644 $ 19,780 Offsetting upstream interest rate contracts 1,608,912 18,473 11,019 Debt Hedging Hedging Instruments: Interest rate swaps $ 900,000 $ 371 N/A Hedged Items: Term borrowings: Par N/A N/A $ 900,000 Cumulative fair value hedging adjustments N/A N/A (13,472 ) Unamortized premium/(discount) and issuance costs N/A N/A (3,910 ) Total carrying value N/A N/A $ 882,618 The following table summarizes gains/(losses) on FHN’s derivatives associated with interest rate risk management activities for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Gains/(Losses) Gains/(Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts (a) $ (4,459 ) $ 4,099 $ (29,183 ) $ 823 Offsetting upstream interest rate contracts (a) 4,459 (4,099 ) 29,183 (823 ) Debt Hedging Hedging Instruments: Interest rate swaps (b) $ (1,545 ) $ 1,808 $ (8,140 ) $ (992 ) Hedged Items: Term borrowings (b) (c) 1,520 (1,804 ) 8,070 929 (a) Gains/losses included in All other expense within the Consolidated Condensed Statements of Income. (b) Gains/losses included in the Interest expense for 2018 and All other expense for 2017 within the Consolidated Condensed Statements of Income. (c) 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 instruments, 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 that had initial 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. Subsequent to 2017, all changes in the fair value of these derivatives are recorded as a component of AOCI. Amounts are reclassified from AOCI to earnings as the hedged cash flows affect earnings. Prior to 2018, FTB measured ineffectiveness using the Hypothetical Derivative Method and AOCI was adjusted to an amount that reflected the lesser of either the cumulative change in fair value of the swaps or the cumulative change in the fair value of the hypothetical derivative instruments. To the extent that any ineffectiveness existed in the hedge relationships, the amounts were 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 being hedged. The following tables summarize FHN’s derivative activities associated with cash flow hedges as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate swaps $ 900,000 $ 24 $ 85 Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 900,000 N/A December 31, 2017 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate swaps $ 900,000 $ 942 N/A Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 900,000 N/A The following table summarizes gains/(losses) on FHN’s derivatives associated with cash flow hedges for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Gains/(Losses) Gains/(Losses) Cash Flow Hedges Hedging Instruments: Interest rate swaps (a) $ (3,914 ) $ 3,491 $ (15,531 ) $ 390 Gain/(loss) recognized in Other comprehensive income/(loss) (3,457 ) 3,059 (12,095 ) 1,997 Gain/(loss) reclassified from AOCI into Interest income 463 (904 ) 308 (1,756 ) (a) Approximately $9.0 million of pre-tax losses are expected to be reclassified into earnings in the next twelve months. Other Derivatives In conjunction with the sales of a portion of its Visa Class B shares, FHN and the purchaser entered into derivative transactions whereby FHN will make or receive cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. As of June 30, 2018 and December 31, 2017 , the derivative liabilities associated with the sales of Visa Class B shares were $9.4 million and $5.6 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 June 30, 2018 and December 31, 2017 , these loans were valued at $6.4 million and $1.5 million , respectively. The balance sheet amount and the gains/losses associated with these derivatives were not significant. Master Netting and Similar Agreements As previously discussed, FHN uses master netting agreements, mutual margining agreements and collateral posting requirements to minimize credit risk on derivative contracts. Master netting and similar agreements are used when counterparties have multiple derivatives contracts that allow for a “right of setoff,” meaning that a counterparty may net offsetting positions and collateral with the same counterparty under the contract to determine a net receivable or payable. The following discussion provides an overview of these arrangements which may vary due to the derivative type and market in which a derivative transaction is executed. Interest rate derivatives are subject to agreements consistent with standard agreement forms of the International Swap and Derivatives Association (“ISDA”). Currently, all interest rate derivative contracts are entered into as over-the-counter transactions and collateral posting requirements are based on the net asset or liability position with each respective counterparty. For contracts that require central clearing, novation to a 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. Interest rate derivatives with customers that are smaller financial institutions typically require posting of collateral by the counterparty to FHN. This collateral is subject to a threshold with daily adjustments based upon changes in the level or fair value of the derivative position. Positions and related collateral can be netted in the event of default. Collateral pledged by a counterparty is typically cash or securities. The securities pledged as collateral are not recognized within FHN’s Consolidated Condensed Statements of Condition. Interest rate derivatives associated with lending arrangements share the collateral with the related loan(s). The derivative and loan positions may be netted in the event of default. For disclosure purposes, the entire collateral amount is allocated to the loan. Interest rate derivatives with larger financial institutions entered into prior to required central clearing typically contain provisions whereby the collateral posting thresholds under the agreements adjust based on the credit ratings of both counterparties. If the credit rating of FHN and/or FTBNA is lowered, FHN could be required to post additional collateral with the counterparties. Conversely, if the credit rating of FHN and/or FTBNA is increased, FHN could have collateral released and be required to post less collateral in the future. Also, if a counterparty’s credit ratings were to decrease, FHN and/or FTBNA could require the posting of additional collateral; whereas if a counterparty’s credit ratings were to increase, the counterparty could require the release of excess collateral. Collateral for these arrangements is adjusted daily based on changes in the net fair value position with each counterparty. The net fair value, determined by individual counterparty, of all derivative instruments with adjustable collateral posting thresholds was $21.7 million of assets and $52.4 million of liabilities on June 30, 2018 , and $23.3 million of assets and $34.5 million of liabilities on December 31, 2017 . As of June 30, 2018 and December 31, 2017 , FHN had received collateral of $108.7 million and $119.3 million and posted collateral of $16.5 million and $18.9 million , respectively, in the normal course of business related to these agreements. Certain agreements entered into prior to required central clearing also contain accelerated termination provisions, inclusive of the right of offset, if a counterparty’s credit rating falls below a specified level. If a counterparty’s debt rating (including FHN’s and FTBNA’s) were to fall below these minimums, these provisions would be triggered, and the counterparties could terminate the agreements and require immediate settlement of all derivative contracts under the agreements. The net fair value, determined by individual counterparty, of all derivative instruments with credit-risk-related contingent accelerated termination provisions was $18.5 million of assets and $47.0 million of liabilities on June 30, 2018 , and $22.8 million of assets and $19.4 million of liabilities on December 31, 2017 . As of June 30, 2018 and December 31, 2017 , FHN had received collateral of $105.5 million and $118.6 million and posted collateral of $15.0 million and $6.7 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 delayed basis, they are considered forward contracts, and are generally not subject to master netting agreements. For futures and options, FHN transacts through a third party, and the transactions are subject to margin and collateral maintenance requirements. In the event of default, open positions can be offset along with the associated collateral. For this disclosure, FHN considers the impact of master netting and other similar agreements which allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net derivative asset or liability position with the related securities and cash collateral. The application of the collateral cannot reduce the net derivative asset or liability position below zero, and therefore any excess collateral is not reflected in the following tables. The following table provides details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized assets Gross amounts offset in the Statements of Condition Net amounts of assets presented in the Statements of Condition (a) Derivative liabilities available for offset Collateral received Net amount Derivative assets: June 30, 2018 (b) $ 102,852 $ — $ 102,852 $ (13,490 ) $ (89,317 ) $ 45 December 31, 2017 (b) 71,458 — 71,458 (17,278 ) (51,271 ) 2,909 (a) Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017 , $19.2 million and $10.2 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. (b) 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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized liabilities Gross amounts offset in the Statements of Condition Net amounts of liabilities presented in the Statements of Condition (a) Derivative assets available for offset Collateral pledged Net amount Derivative liabilities: June 30, 2018 (b) $ 107,178 $ — $ 107,178 $ (13,490 ) $ (65,689 ) $ 27,999 December 31, 2017 (b) 69,842 — 69,842 (17,278 ) (51,801 ) 763 (a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017 , $28.2 million and $15.2 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. (b) Amounts are comprised entirely of interest rate derivative contracts. |
Master Netting and Similar Agre
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Offsetting [Abstract] | |
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions | Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions For repurchase, reverse repurchase and securities borrowing transactions, FHN and each counterparty have the ability to offset all open positions and related collateral in the event of default. Due to the nature of these transactions, the value of the collateral for each transaction approximates the value of the corresponding receivable or payable. For repurchase agreements through FHN’s fixed income business (Securities purchased under agreements to resell and Securities sold under agreements to repurchase), transactions are collateralized by securities and/or government guaranteed loans 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 repurchase), securities are typically pledged at settlement and not released until maturity. For asset positions, the collateral is not included on FHN’s Consolidated Condensed Statements of Condition. For liability positions, securities collateral pledged by FHN is generally represented within FHN’s trading or available-for-sale securities portfolios. For this disclosure, FHN considers the impact of master netting and other similar agreements that allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net asset or liability position with the related securities collateral. The application of the collateral cannot reduce the net asset or liability position below zero, and therefore any excess collateral is not reflected in the tables below. The following table provides details of Securities purchased under agreements to resell as presented on the Consolidated Condensed Statements of Condition and collateral pledged by counterparties as of June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized assets Gross amounts offset in the Statements of Condition Net amounts of assets presented in the Statements of Condition Offsetting securities sold under agreements to repurchase Securities collateral (not recognized on FHN’s Statements of Condition) Net amount Securities purchased under agreements to resell: June 30, 2018 $ 782,765 $ — $ 782,765 $ (2,090 ) $ (772,347 ) $ 8,328 December 31, 2017 725,609 — 725,609 (259 ) (720,036 ) 5,314 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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized liabilities Gross amounts offset in the Statements of Condition Net amounts of liabilities presented in the Statements of Condition Offsetting securities purchased under agreements to resell Securities/ government guaranteed loans collateral Net amount Securities sold under agreements to repurchase: June 30, 2018 $ 713,152 $ — $ 713,152 $ (2,090 ) $ (710,862 ) $ 200 December 31, 2017 656,602 — 656,602 (259 ) (656,216 ) 127 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 June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Overnight and Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 24,153 $ — $ 24,153 Government agency issued MBS 383,835 6,929 390,764 Government agency issued CMO 54,530 3,023 57,553 Government guaranteed loans (SBA and USDA) 240,682 — 240,682 Total Securities sold under agreements to repurchase $ 703,200 $ 9,952 $ 713,152 December 31, 2017 (Dollars in thousands) Overnight and Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 13,830 $ — $ 13,830 Government agency issued MBS 424,821 5,365 430,186 Government agency issued CMO 54,037 3,666 57,703 Government guaranteed loans (SBA and USDA) 154,883 — 154,883 Total Securities sold under agreements to repurchase $ 647,571 $ 9,031 $ 656,602 |
Fair Value Of Assets And Liabil
Fair Value Of Assets And Liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets And Liabilities | 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 June 30, 2018 : June 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities—fixed income: U.S. treasuries $ — $ 53,315 $ — $ 53,315 Government agency issued MBS — 185,118 — 185,118 Government agency issued CMO — 305,125 — 305,125 Other U.S. government agencies — 111,516 — 111,516 States and municipalities — 89,629 — 89,629 Corporates and other debt — 902,580 — 902,580 Equity, mutual funds, and other — 463 — 463 Total trading securities—fixed income — 1,647,746 — 1,647,746 Trading securities—mortgage banking — — 1,724 1,724 Loans held-for-sale (elected fair value) — 2,222 16,718 18,940 Securities available-for-sale: U.S. treasuries — 98 — 98 Government agency issued MBS — 2,494,300 — 2,494,300 Government agency issued CMO — 2,107,580 — 2,107,580 Other U.S. government agencies — 54,402 — 54,402 States and municipalities — 6,406 — 6,406 Corporates and other debt — 55,838 — 55,838 Interest-only strips (elected fair value) — — 5,787 5,787 Total securities available-for-sale — 4,718,624 5,787 4,724,411 Other assets: Deferred compensation mutual funds 40,068 — — 40,068 Equity, mutual funds, and other 27,135 — — 27,135 Derivatives, forwards and futures 19,127 — — 19,127 Derivatives, interest rate contracts — 102,766 — 102,766 Derivatives, other — 163 — 163 Total other assets 86,330 102,929 — 189,259 Total assets $ 86,330 $ 6,471,521 $ 24,229 $ 6,582,080 Trading liabilities—fixed income: U.S. treasuries $ — $ 520,463 $ — $ 520,463 Other U.S. government agencies — 329 — 329 States and municipalities — 2,572 — 2,572 Corporates and other debt — 220,357 — 220,357 Total trading liabilities—fixed income — 743,721 — 743,721 Other liabilities: Derivatives, forwards and futures 18,738 — — 18,738 Derivatives, interest rate contracts — 107,179 — 107,179 Derivatives, other — 7 9,425 9,432 Total other liabilities 18,738 107,186 9,425 135,349 Total liabilities $ 18,738 $ 850,907 $ 9,425 $ 879,070 The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 : December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities—fixed income: U.S. treasuries $ — $ 128,995 $ — $ 128,995 Government agency issued MBS — 227,038 — 227,038 Government agency issued CMO — 275,014 — 275,014 Other U.S. government agencies — 54,699 — 54,699 States and municipalities — 34,573 — 34,573 Corporates and other debt — 693,877 — 693,877 Equity, mutual funds, and other — (2 ) — (2 ) Total trading securities—fixed income — 1,414,194 — 1,414,194 Trading securities—mortgage banking — — 2,151 2,151 Loans held-for-sale — 1,955 18,926 20,881 Securities available-for-sale: U.S. treasuries — 99 — 99 Government agency issued MBS — 2,577,376 — 2,577,376 Government agency issued CMO — 2,269,858 — 2,269,858 Corporates and other debt — 55,782 — 55,782 Interest-only strips — — 1,270 1,270 Equity, mutual funds, and other 27,017 — — 27,017 Total securities available-for-sale 27,017 4,903,115 1,270 4,931,402 Other assets: Deferred compensation assets 39,822 — — 39,822 Derivatives, forwards and futures 10,161 — — 10,161 Derivatives, interest rate contracts — 71,473 — 71,473 Total other assets 49,983 71,473 — 121,456 Total assets $ 77,000 $ 6,390,737 $ 22,347 $ 6,490,084 Trading liabilities—fixed income: U.S. treasuries $ — $ 506,679 $ — $ 506,679 Corporates and other debt — 131,836 — 131,836 Total trading liabilities—fixed income — 638,515 — 638,515 Other liabilities: Derivatives, forwards and futures 9,535 — — 9,535 Derivatives, interest rate contracts — 69,842 — 69,842 Derivatives, other — 39 5,645 5,684 Total other liabilities 9,535 69,881 5,645 85,061 Total liabilities $ 9,535 $ 708,396 $ 5,645 $ 723,576 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 June 30, 2018 and 2017 , on a recurring basis are summarized as follows: Three Months Ended June 30, 2018 (Dollars in thousands) Trading securities Interest- only strips- AFS Loans held- for-sale Net derivative liabilities Balance on April 1, 2018 $ 1,926 $ 2,733 $ 18,334 $ (5,645 ) Total net gains/(losses) included in: Net income 124 (296 ) 540 (4,079 ) Purchases — — 34 — Sales — — — — Settlements (326 ) — (2,134 ) 299 Net transfers into/(out of) Level 3 — 3,350 (b) (56 ) (d) — Balance on June 30, 2018 $ 1,724 $ 5,787 $ 16,718 $ (9,425 ) Net unrealized gains/(losses) included in net income $ 87 (a) $ (128 ) (c) $ 542 (a) $ (4,079 ) (e) Three Months Ended June 30, 2017 (Dollars in thousands) Trading securities Interest-only strips-AFS Loans held-for-sale Net derivative liabilities Balance on April 1, 2017 $ 2,335 $ — $ 21,221 $ (5,950 ) Total net gains/(losses) included in: Net income 271 267 410 (49 ) Purchases — 1,413 43 — Settlements (142 ) (3,291 ) (827 ) 299 Net transfers into/(out of) Level 3 — 2,774 (b) (260 ) (d) — Balance on June 30, 2017 $ 2,464 $ 1,163 $ 20,587 $ (5,700 ) Net unrealized gains/(losses) included in net income $ 229 (a) $ (53 ) (c) $ 410 (a) $ (49 ) (e) Certain previously reported amounts have been reclassified to agree with current presentation. (a) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. (b) Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held-for-sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Condensed Statements of Income. (d) Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into OREO (level 3 nonrecurring). (e) Included in Other expense. Changes in Recurring Level 3 Fair Value Measurements The changes in Level 3 assets and liabilities measured at fair value for the six months ended June 30, 2018 and 2017 , on a recurring basis are summarized as follows: Six Months Ended June 30, 2018 (Dollars in thousands) Trading securities Interest- only strips- AFS Loans held- for-sale Net derivative liabilities Balance on January 1, 2018 $ 2,151 $ 1,270 $ 18,926 $ (5,645 ) Total net gains/(losses) included in: Net income 140 1,296 709 (4,375 ) Purchases — — 62 — Sales — — — — Settlements (567 ) (9,193 ) (2,923 ) 595 Net transfers into/(out of) Level 3 — 12,414 (b) (56 ) (d) — Balance on June 30, 2018 $ 1,724 $ 5,787 $ 16,718 $ (9,425 ) Net unrealized gains/(losses) included in net income $ 63 (a) $ (109 ) (c) $ 709 (a) $ (4,375 ) (e) Six Months Ended June 30, 2017 (Dollars in thousands) Trading Interest-only-strips- AFS Loans held- Net derivative Balance on January 1, 2017 $ 2,573 $ — $ 21,924 $ (6,245 ) Total net gains/(losses) included in: Net income 288 267 1,332 (50 ) Purchases — 1,413 75 — Settlements (397 ) (3,291 ) (2,401 ) 595 Net transfers into/(out of) Level 3 — 2,774 (b) (343 ) (d) — Balance on June 30, 2017 $ 2,464 $ 1,163 $ 20,587 $ (5,700 ) Net unrealized gains/(losses) included in net income $ 202 (a) $ (53 ) (c) $ 1,332 (a) $ (50 ) (e) Certain previously reported amounts have been reclassified to agree with current presentation. (a) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. (b) Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held-for-sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Condensed Statements of Income. (d) Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into OREO (level 3 nonrecurring). (e) 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 June 30, 2018 , and December 31, 2017 , respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value. Carrying value at June 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale—SBAs and USDA $ — $ 578,498 $ 1,025 $ 579,523 Loans held-for-sale—first mortgages — — 607 607 Loans, net of unearned income (a) — — 29,061 29,061 OREO (b) — — 26,457 26,457 Other assets (c) — — 24,699 24,699 Carrying value at December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale—SBAs and USDA $ — $ 465,504 $ 1,473 $ 466,977 Loans held-for-sale—first mortgages — — 618 618 Loans, net of unearned income (a) — — 26,666 26,666 OREO (b) — — 39,566 39,566 Other assets (c) — — 26,521 26,521 (a) 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. (b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) 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 and six months ended June 30, 2018 and 2017 : Net gains/(losses) Net gains/(losses) (Dollars in thousands) 2018 2017 2018 2017 Loans held-for-sale—SBAs and USDA $ (1,425 ) $ (1,140 ) $ (1,987 ) $ (1,173 ) Loans held-for-sale—first mortgages (1 ) 13 4 16 Loans, net of unearned income (a) 665 (452 ) 1,167 32 OREO (b) (262 ) (176 ) (1,422 ) (621 ) Other assets (c) (1,079 ) (942 ) (2,216 ) (1,884 ) $ (2,102 ) $ (2,697 ) $ (4,454 ) $ (3,630 ) (a) Write-downs on these loans are recognized as part of provision for loan losses. (b) Represents losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) Represents tax credit investments accounted for under the equity method. In second quarter 2018, FHN recognized $1.3 million of impairments of long-lived assets in its corporate segment related to optimization efforts for its facilities. In fourth quarter 2017, FHN recognized $3.0 million and $.8 million of impairments on long-lived assets in its Corporate and Regional Banking segments, respectively, associated with efforts to more efficiently utilize its branch locations, including integration with branches acquired from CBF. 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 sales contract or appraisals less estimated costs to sell. The 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. In third quarter 2017, FHN’s Corporate segment recognized $ 2.0 million of impairments on long-lived technology assets associated with the transition to expanded processing capacity that will be required upon completion of the merger with CBF. The fair values of the assets impaired were determined using a discounted cash flow approach which reflected short estimated remaining lives and considered estimated salvage values. The 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 June 30, 2018 and December 31, 2017 : (Dollars in thousands) Level 3 Class Fair Value at Valuation Techniques Unobservable Input Values Utilized Available-for-sale- securities SBA-interest only strips $ 5,787 Discounted cash flow Constant prepayment rate 11% Bond equivalent yield 12%- 14% Loans held-for-sale - residential real estate 17,325 Discounted cash flow Prepayment speeds - First mortgage 2% - 11% Prepayment speeds - HELOC 5% - 12% Foreclosure losses 50% - 70% Loss severity trends - First mortgage 5% - 25% of UPB Loss severity trends - HELOC 50% - 100% of UPB Loans held-for-sale- unguaranteed interest in SBA loans 1,025 Discounted cash flow Constant prepayment rate 8% - 12% Bond equivalent yield 13% - 14% Derivative liabilities, other 9,425 Discounted cash flow Visa covered litigation resolution amount $5.0 billion - $5.6 billion Probability of resolution scenarios 20% - 30% Time until resolution 24- 48 months Loans, net of unearned income (a) 29,061 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 OREO (b) 26,457 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 24,699 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 (a) 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. (b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) Represents tax credit investments accounted for under the equity method. (Dollars in thousands) Level 3 Class Fair Value at Valuation Techniques Unobservable Input Values Utilized Available-for-sale- securities SBA-interest only strips $ 1,270 Discounted cash flow Constant prepayment rate 10% - 11% Bond equivalent yield 17% Loans held-for-sale - residential real estate 19,544 Discounted cash flow Prepayment speeds - First mortgage 2% - 12% Prepayment speeds - HELOC 5% - 12% Foreclosure losses 50% - 70% Loss severity trends - First mortgage 5% - 30% of UPB Loss severity trends - HELOC 15% - 100% of UPB Loans held-for-sale- unguaranteed interest in SBA loans 1,473 Discounted cash flow Constant prepayment rate 8% - 12% Bond equivalent yield 9% - 10% Derivative liabilities, other 5,645 Discounted cash flow Visa covered litigation resolution amount $4.4 billion - $5.2 billion Probability of resolution scenarios 10% - 30% Time until resolution 18 - 48 months Loans, net of unearned income (a) 26,666 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 OREO (b) 39,566 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 26,521 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 (a) 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. (b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) Represents tax credit investments accounted for under the equity method. Securities AFS . Increases (decreases) in estimated prepayment rates and bond equivalent yields negatively (positively) affect the value of SBA interest only strips. Management additionally considers whether the loans underlying related SBA-interest only strips are delinquent, in default or prepaying, and adjusts the fair value down 20 - 100% depending on the length of time in default. 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 loans held-for-sale. Loss severity trends are also assessed to evaluate the reasonableness of fair value estimates resulting from discounted cash flows methodologies as well as to estimate fair value for newly repurchased loans and loans that are near foreclosure. Significant increases (decreases) in any of these inputs in isolation would result in significantly lower (higher) fair value measurements. All observable and unobservable inputs are re-assessed quarterly. Fair value measurements are reviewed at least quarterly by FHN’s Corporate Accounting Department. Increases (decreases) in estimated prepayment rates and bond equivalent yields negatively (positively) affect the value of unguaranteed interests in SBA loans. Unguaranteed interest in SBA loans held-for-sale are carried at less than the outstanding balance due to credit risk estimates. Credit risk adjustments may be reduced if prepayment is likely or as consistent payment history is realized. Management also considers other factors such as delinquency or default and adjusts the fair value accordingly. Derivative liabilities. In conjunction 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 liabilities. Additionally, FHN performs a probability weighted multiple resolution scenario to calculate the estimated fair value of these derivative liabilities. Assignment of higher (lower) probabilities to the larger potential resolution scenarios would result in an increase (decrease) in the estimated fair value of the derivative liabilities. Since this estimation process requires application of judgment in developing significant unobservable inputs used to determine the possible outcomes and the probability weighting assigned to each scenario, these derivatives have been classified within Level 3 in fair value measurements disclosures. The valuation inputs and process are discussed with senior and executive management when significant events affecting the estimate of fair value occur. Inputs are compared to information obtained from the public issuances and filings of Visa, Inc. as well as public information released by other participants in the applicable litigation matters. Loans, net of unearned income and Other Real Estate Owned. Collateral-dependent loans and OREO are primarily valued using appraisals based on sales of comparable properties in the same or similar markets. Multiple appraisal firms are utilized to ensure that estimated values are consistent between firms. This process occurs within FHN’s Credit Risk Management (commercial) and Default Servicing functions (primarily consumer). The Credit Risk Management Committee reviews dispositions and additions of OREO annually. 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. These valuations are discounted based on the quality of reporting, knowledge of the marketability/collectability of the collateral and historical disposition rates. Other assets – tax credit investments. The estimated fair value of tax credit investments accounted for under the equity method is generally determined in relation to the yield (i.e., future tax credits to be received) an acquirer of these investments would expect in relation to the yields experienced on current new issue and/or secondary market transactions. Thus, as tax credits are recognized, the future yield to a market participant is reduced, resulting in consistent impairment of the individual investments. Individual investments are reviewed for impairment quarterly, which may include the consideration of additional marketability discounts related to specific investments which typically includes consideration of the underlying property’s appraised value. Unusual valuation adjustments and the associated triggering events are discussed with senior and executive management when appropriate. A portfolio review is conducted annually, with the assistance of a third party, to assess the reasonableness of current valuations. Fair Value Option FHN 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”) except for mortgage origination operations which utilize the platform acquired from CBF. 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 subsequent to reacquisition. Due to the credit-distressed nature of the vast majority of repurchased loans and the related loss severities experienced upon repurchase, FHN believes that the fair value election provides a more timely recognition of changes in value for these loans that occur subsequent to repurchase. Absent the fair value election, these loans would be subject to valuation at the LOCOM value, which would prevent subsequent values from exceeding the initial fair value, determined at the time of repurchase, but would require recognition of subsequent declines in value. Thus, the fair value election provides for a more timely recognition of any potential future recoveries in asset values while not affecting the requirement to recognize subsequent declines in value. The following tables reflect the differences between the fair value carrying amount of residential real estate loans held-for-sale measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity. June 30, 2018 (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 $ 18,940 $ 26,644 $ (7,704 ) Nonaccrual loans 4,674 8,830 (4,156 ) Loans 90 days or more past due and still accruing 34 51 (17 ) December 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 $ 20,881 $ 29,755 $ (8,874 ) Nonaccrual loans 5,783 10,881 (5,098 ) Loans 90 days or more past due and still accruing — — — 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 Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Changes in fair value included in net income: Mortgage banking noninterest income Loans held-for-sale $ 540 $ 410 $ 709 $ 1,332 For the three months ended June 30, 2018 , residential real estate loans held-for-sale included an insignificant amount of gains in pretax earnings that are attributable to change in instruments-specific credit risk. For the three months ended June 30, 2017 , the amount for residential real estate loans held-for-sale included gains of $.2 million , in pretax earnings that are attributable to changes in instruments-specific credit risk. For the six months ended June 30, 2018 , and 2017 , the amounts for the real estate loans held-for-sale included gains of $.3 million in pretax earnings that are attributable to changes in instruments-specific credit risk. The portion of the fair value adjustments related to credit risk was determined based on estimated default rates and estimated loss severities. Interest income on residential real estate loans held-for-sale measured at fair value is calculated based on the note rate of the loan and is recorded in the interest income section of the Consolidated Condensed Statements of Income as interest on loans held-for-sale. FHN has elected to account for retained interest-only strips from guaranteed SBA loans recorded in available-for-sale securities at fair value through earnings. Since these securities are subject to the risk that prepayments may result in FHN not recovering all or a portion of its recorded investment, the fair value election results in a more timely recognition of the effects of estimated prepayments through earnings rather than being recognized through other comprehensive income with periodic review for other-than-temporary impairment. Gains or losses are recognized through fixed income revenues and are presented in the recurring measurements table. Determination of Fair Value In accordance with ASC 820-10-35, fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following describes the assumptions and methodologies used to estimate the fair value of financial instruments recorded at fair value in the Consolidated Condensed Statements of Condition and for estimating the fair value of financial instruments for which fair value is disclosed. Short-term financial assets. Federal funds sold, securities purchased under agreements to resell, and interest bearing deposits with other financial institutions and the Federal Reserve are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. Trading securities and trading liabilities. Trading securities and trading liabilities are recognized at fair value through current earnings. Trading inventory held for broker-dealer operations is included in trading securities and trading liabilities. Broker-dealer long positions are valued at bid price in the bid-ask spread. Short positions are valued at the ask price. Inventory positions are valued using observable inputs including current market transactions, LIBOR and U.S. treasury curves, credit spreads, and consensus prepayment speeds. Trading loans are valued using observable inputs including current market transactions, swap rates, mortgage rates, and consensus prepayment speeds. Trading securities also include retained interests in prior mortgage securitizations that qualify as financial assets, which include primarily principal-only strips. FHN uses 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. 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. Interest only strips are valued at elected fair value based on an income approach using an internal valuation model. The internal valuation model includes assumptions regarding projections of future cash flows, prepayment rates, default rates and interest only strip terms. These securities bear the risk of loan prepayment or default that may result in the Company not recovering all or a portion of its recorded investment. When appropriate, valuations are adjusted for various factors including default or prepayment status of the underlying SBA loans. Because of the inherent uncertainty of valuation, those estimated values may be higher or lower than the values that would have been used had a ready market for the securities existed, and may change in the near term. Loans held-for-sale. Residential real estate loans held-for-sale are valued 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 determines the fair value of residential real estate loans held-for-sale using a discounted cash flow model which incorporates both observable and unobservable inputs. Inputs include current mortgage rates for similar products, estimated prepayment rates, foreclosure 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 estimated cancellation rates for loans expected to become delinquent. Non-mortgage consumer loans held-for-sale are valued using current market pricing for similar assets with adjustments for differences in credit standing (delinquency, historical default rates for similar loans), yield, collateral values and prepayment rates. If pricing for similar assets is not available, a discounted cash flow methodology is utilized, which incorporates all of these factors into an estimate of investor required yield for the discount rate. The Company utilizes quoted market prices of |
Financial Information (Policies
Financial Information (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [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 2018 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, 2017. |
Revenues | Revenues. Revenue is recognized when the performance obligations under the terms of a contract with a customer are satisfied in an amount that reflects the consideration FHN expects to be entitled. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized immediately upon completion of the transaction. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. Any services performed over time generally require that FHN render services each period and therefore FHN measures progress in completing these services based upon the passage of time and recognizes revenue as invoiced. Following is a discussion of FHN's key revenues within the scope of Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers", and all related amendments, except as noted. |
Fixed Income | Fixed Income. Fixed income includes fixed income securities sales, trading, and strategies, loan sales and derivative sales which are not within the scope of revenue from contracts with customers. Fixed income also includes investment banking fees earned for services related to underwriting debt securities and performing portfolio advisory services. FHN's performance obligation for underwriting services is satisfied on the trade date while advisory services is satisfied over time. |
Deposit Transactions and Cash Management | Deposit Transactions and Cash Management. Deposit transactions and cash management activities include fees for services related to consumer and commercial deposit products (such as service charges on checking accounts), cash management products and services such as electronic transaction processing (Automated Clearing House and Electronic Data Interchange), account reconciliation services, cash vault services, lockbox processing, and information reporting to large corporate clients. FHN's obligation for transaction-based services is satisfied at the time of the transaction when the service is delivered while FHN's obligation for service based fees is satisfied over the course of each month. |
Brokerage, Management Fees And Commissions | Brokerage, Management Fees and Commissions. Brokerage, management fees and commissions include fees for portfolio management, trade commissions, and annuity and mutual fund sales. Asset-based management fees are charged based on the market value of the client’s assets. The services associated with these revenues, which include investment advice and active management of client assets are generally performed and recognized over a month or quarter. Transactional revenues are based on the size and number of transactions executed at the client’s direction and are generally recognized on the trade date. |
Trust Services And Investment Management | Trust Services and Investment Management. Trust services and investment management fees include investment management, personal trust, employee benefits, and custodial trust services. Obligations for trust services are generally satisfied over time but may be satisfied at points in time for certain activities that are transactional in nature. |
Bankcard Income | Bankcard Income. Bankcard income includes credit interchange and network revenues and various card-related fees. Interchange income is recognized concurrently with the delivery of services on a daily basis. Card-related fees such as late fees, currency conversion, and cash advance fees are loan-related and excluded from the scope of ASU 2014-09. |
Debt & Equity Investment Securities, Available-for-sale | Debt Investment Securities. Available-for-sale ("AFS") and held-to-maturity (“HTM”) securities are reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review includes an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Debt securities that may be sold prior to maturity are classified as AFS and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses for investment securities are determined by the specific identification method and reported in noninterest income. Declines in value judged to be other-than-temporary based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN has the intent to sell, are also determined by the specific identification method. For HTM debt securities, OTTI recognized is typically credit-related and is reported in noninterest income. For impaired AFS debt securities that FHN does not intend to sell and will not be required to sell prior to recovery but for which credit losses exist, the OTTI recognized is separated between the total impairment related to credit losses which is reported in noninterest income, and the impairment related to all other factors which is excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Statements of Comprehensive Income. Equity Investment Securities. Equity securities were classified as AFS through December 31, 2017. Subsequently, all equity securities are classified in Other assets. National banks chartered by the federal government are, by law, members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank ("FRB"). Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. FRB and FHLB stock are recorded at cost and are subject to impairment reviews. Other equity investments primarily consist of mutual funds which are marked to fair value through earnings. Smaller balances of equity investments without a readily determinable fair value, including FHN's holdings of Visa Class B Common Shares, are recorded at cost minus impairment with adjustments through earnings for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. |
Debt & Equity Investment Securities, Held-to-maturity | Debt Investment Securities. Available-for-sale ("AFS") and held-to-maturity (“HTM”) securities are reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review includes an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Debt securities that may be sold prior to maturity are classified as AFS and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses for investment securities are determined by the specific identification method and reported in noninterest income. Declines in value judged to be other-than-temporary based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN has the intent to sell, are also determined by the specific identification method. For HTM debt securities, OTTI recognized is typically credit-related and is reported in noninterest income. For impaired AFS debt securities that FHN does not intend to sell and will not be required to sell prior to recovery but for which credit losses exist, the OTTI recognized is separated between the total impairment related to credit losses which is reported in noninterest income, and the impairment related to all other factors which is excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Statements of Comprehensive Income. Equity Investment Securities. Equity securities were classified as AFS through December 31, 2017. Subsequently, all equity securities are classified in Other assets. National banks chartered by the federal government are, by law, members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank ("FRB"). Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. FRB and FHLB stock are recorded at cost and are subject to impairment reviews. Other equity investments primarily consist of mutual funds which are marked to fair value through earnings. Smaller balances of equity investments without a readily determinable fair value, including FHN's holdings of Visa Class B Common Shares, are recorded at cost minus impairment with adjustments through earnings for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. |
Summary of Accounting Changes and Accounting Changes Issued But Not Currently Effective | Summary of Accounting Changes. Effective January 1, 2018, FHN adopted the provisions of ASU 2014-09, “Revenue from Contracts with Customers,” and all related amendments to all contracts using a modified retrospective transaction method. 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 and 5) recognition of revenue as performance obligations are satisfied. Additionally, qualitative and quantitative information is required for disclosure regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. 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 good 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. FHN elected to adopt the provisions of the revenue recognition standards through the cumulative effect alternative and determined that there were no significant effects on the timing of recognition, which resulted in no cumulative effect adjustment being required. Beginning in first quarter 2018, in situations where FHN's broker-dealer operations serve as the lead underwriter, the associated revenues and expenses are presented gross. The effect on 2018 revenues and expenses is not expected to be significant. Effective January 1, 2018, FHN adopted the provisions of ASU 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets” through the cumulative effect approach. ASU 2017-05 clarifies the meaning and application of the term "in substance nonfinancial asset" in transactions involving both financial and nonfinancial assets. If substantially all of the fair value of the assets that are promised to the counterparty in a contract are concentrated in nonfinancial assets, then all of the financial assets promised 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 asset 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 distinct 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) transfers 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. FHN determined that there were no significant effects on the timing of revenue recognition, which resulted in no cumulative effect adjustment being required. Effective January 1, 2018, FHN adopted the provisions of 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 value 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 without 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 resulting 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 disclosure requirements, including a provision that all disclosures must use an exit price concept in the determination of fair value. Transition is 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, will have any initial fair value marks recorded through earnings prospectively after adoption. Upon adoption, FHN reclassified $265.9 million of equity investments out of AFS securities to Other assets, leaving only debt securities within the AFS classification. FHN evaluated the nature of its current equity investments (excluding FRB and FHLB stock holdings which are specifically exempted from the provisions of ASU 2016-01) and determined that substantially all qualified for the election available to assets without readily determinable fair values, including its holdings of Visa Class B shares. Accordingly, FHN has applied this election and any future fair value marks for these investments will be recognized through earnings on a prospective basis subsequent to adoption. The requirements of ASU 2016-01 related to assessment of deferred tax assets and disclosure of the fair value of financial instruments did not have a significant effect on FHN because its current accounting and disclosure practices conform to the requirements of ASU 2016-01. Effective January 1, 2018, FHN adopted the provisions of 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 liabilities 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. The adoption of ASU 2016-04 did not have a significant effect on FHN’s current accounting and disclosure practices. Effective January 1, 2018, FHN adopted the provisions of ASU 2016-15, “Classification of Certain Cash Receipts and 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. The adoption of ASU 2016-15 was applied retroactively resulting in proceeds from bank-owned life insurance (“BOLI”) being classified as an investing activity rather than their prior classification as an operating activity. All of these amounts are included in Other assets in the Consolidated Condensed Statement of Condition. The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 (Dollars in thousands) 2017 2016 2015 Proceeds from BOLI $ 4,997 $ 5,690 $ 11,440 $ 2,740 $ 2,425 Effective January 1, 2018, FHN retroactively adopted the provisions of 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. FHN’s disclosures for pension and postretirement costs provide details of the service cost and all other components for expenses recognized for its applicable benefit plans. All of these amounts were previously included in Employee compensation, incentives, and benefits expense in the Consolidated Condensed Statements of Income. Upon adoption of ASU 2017-07 FHN reclassified the expense components other than service cost into All other expense and revised its disclosures accordingly. The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 ( Dollars in thousands ) 2017 2016 2015 Net periodic benefit cost reclassified $ 812 $ 1,250 $ 1,946 $ (843 ) $ (1,168 ) Effective January 1, 2018, FHN early adopted the provisions of 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 extend 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 either 1) debt securities where the prepayment date is not preset or the price is not known in advance or 2) debt securities that qualify for amortization based on estimated prepayment rates. The adoption of ASU 2017-08 did not have an effect on FHN's current investments. Effective January 1, 2018, FHN early adopted the provisions of ASU 2017-12, “Targeted Improvements to Accounting for Hedging Activities,” which revises the financial reporting for hedging relationships through changes to both the designation and measurement requirements for qualifying hedge relationships and the presentation of hedge results. ASU 2017-12 expands permissible risk component hedging strategies, including the designation of a contractually specified interest rate (e.g., a bank’s prime rate) in hedges of cash flows from variable rate financial instruments. Additionally, ASU 2017-12 makes significant revisions to fair value hedging activities, including the ability to measure the fair value changes for a hedged item solely for changes in the benchmark interest rate, permitting partial-term hedges, limiting consideration of prepayment risk for hedged debt instruments solely to the effects of changes in the benchmark interest rate and allowing for certain hedging strategies to be applied to closed portfolios of prepayable debt instruments. ASU 2017-12 also provides elections for the exclusion of certain portions of a hedging instrument’s change in fair value from the assessment of hedge effectiveness. If elected, the fair value changes of these excluded components may be recognized immediately or recorded into other comprehensive income with recycling into earnings using a rational and systematic methodology over the life of the hedging instrument. Under ASU 2017-12 some of the documentation requirements for hedge accounting relationships are relaxed, but the highly effective threshold has been retained. Hedge designation documentation and a prospective qualitative assessment are still required at hedge inception, but the initial quantitative analysis may be delayed until the end of the quarter the hedge is commenced. If certain criteria are met, an election can be made to perform future effectiveness assessments using a purely qualitative methodology. ASU 2017-12 also revises the income statement presentation requirements for hedging activities. For fair value hedges, the entire change in the fair value of the hedging instrument included in the assessment of effectiveness is recorded to the same income statement line item used to present the earnings effect of the hedged item. For cash flow hedges, the entire fair value change of the hedging instrument that is included in the assessment of hedge effectiveness is initially recorded in other comprehensive income and later recycled into earnings as the hedged transaction(s) affect net income with the income statement effects recorded in the same financial statement line item used to present the earnings effect of the hedged item. ASU 2017-12 also makes revisions to the current disclosure requirements for hedging activities to reflect the presentation of hedging results consistent with the changes to income statement classification and to improve the disclosure of the hedging results on the balance sheet. FHN early adopted the provisions of ASU 2017-12 in the first quarter of 2018. Prospectively, FHN is recording components of hedging results for its fair value and cash flow hedges previously recognized in other expense within either interest income or interest expense. Additionally, FHN made cumulative effect adjustments to the hedged items, accumulated other comprehensive income and retained earnings as of the beginning of 2018. The magnitude of the cumulative effect adjustments and prospective effects were insignificant for FHN’s hedge relationships. Accounting Changes Issued but Not Currently Effective 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 lease 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 lease 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 relationship 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 of 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 July 2018, the FASB issued ASU 2018-11, “ Leases - Targeted Improvements ,” which provides an election for a cumulative effect adjustment to retained earnings upon initial adoption of ASU 2016-02. Alternatively, under the initial guidance of ASU 2016-02, lessees and lessors are required to recognize and measure leases at the beginning of the earliest comparative period presented using a modified retrospective approach. Both adoption alternatives include a number of optional practical expedients that entities may elect to apply, which would result in continuing 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 each 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 and ASU 2018-11 are 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 accounting and disclosure practices. Upon adoption, FHN intends to utilize the cumulative effect transition alternative provided by ASU 2018-11. In June 2016, the FASB issued ASU 2016-13, “Measurement 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 “incurred 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 disaggregated 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 credit 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 more-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 credit 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 debt 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 expected 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 prospective 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 financial 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 adoption is permitted in fiscal years beginning after December 15, 2018. FHN continues to evaluate the impact of ASU 2016-13. FHN has met with industry experts, initiated training for key employees associated with the new standard, and defined an initial approach that it is currently testing. FHN has begun developing the formal models and processes that will be required to implement the new standard. |
Financial Information (Tables)
Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Life Settlement Contracts | The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 (Dollars in thousands) 2017 2016 2015 Proceeds from BOLI $ 4,997 $ 5,690 $ 11,440 $ 2,740 $ 2,425 |
Schedule of Net Benefit Costs | The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 ( Dollars in thousands ) 2017 2016 2015 Net periodic benefit cost reclassified $ 812 $ 1,250 $ 1,946 $ (843 ) $ (1,168 ) The components of net periodic benefit cost for the three months ended June 30 are as follows: Pension Benefits Other Benefits (Dollars in thousands) 2018 2017 2018 2017 Components of net periodic benefit cost Service cost $ 10 $ 10 $ 34 $ 27 Interest cost 6,987 7,380 327 325 Expected return on plan assets (8,226 ) (8,890 ) (269 ) (237 ) Amortization of unrecognized: Prior service cost/(credit) — 13 — 24 Actuarial (gain)/loss 2,956 2,380 (91 ) (143 ) Net periodic benefit cost/(credit) $ 1,727 $ 893 $ 1 $ (4 ) The components of net periodic benefit cost for the six months ended June 30 are as follows: Pension Benefits Other Benefits (Dollars in thousands) 2018 2017 2018 2017 Components of net periodic benefit cost Service cost $ 20 $ 19 $ 67 $ 54 Interest cost 13,973 14,759 654 651 Expected return on plan assets (16,451 ) (17,781 ) (538 ) (474 ) Amortization of unrecognized: Prior service cost/(credit) — 26 — 48 Actuarial (gain)/loss 5,912 4,760 (182 ) (285 ) Net periodic benefit cost/(credit) $ 3,454 $ 1,783 $ 1 $ (6 ) |
Acquisitions and Divestitures (
Acquisitions and Divestitures (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following schedule details acquired assets and liabilities and consideration paid, as well as adjustments to record the assets and liabilities at their estimated fair values as of November 30, 2017. These fair value measurements are based on third party and internal valuations. Capital Bank Financial Corporation As Purchase Accounting/Fair Acquired Value Adjustments (unaudited) As recorded (Dollars in thousands) (unaudited) 2017 2018 (a) by FHN Assets: Cash and cash equivalents $ 205,999 $ — $ — $ 205,999 Trading securities 4,758 (4,758 ) (b) — — Loans held-for-sale — 134,003 (9,085 ) 124,918 Securities available-for-sale 1,017,867 175,526 — 1,193,393 Securities held-to-maturity 177,549 (177,549 ) — — Loans 7,596,049 (320,372 ) 867 7,276,544 Allowance for loan losses (45,711 ) 45,711 — — CBF Goodwill 231,292 (231,292 ) — — Other intangible assets 24,498 119,302 (2,593 ) 141,207 Premises and equipment 196,298 37,054 (1,905 ) 231,447 OREO 43,077 (9,149 ) (315 ) 33,613 Other assets 617,232 41,320 (c) (7,528 ) (c) 651,024 Total assets acquired $ 10,068,908 $ (190,204 ) $ (20,559 ) $ 9,858,145 Liabilities: Deposits $ 8,141,593 $ (849 ) $ (642 ) $ 8,140,102 Securities sold under agreements to repurchase 26,664 — — 26,664 Other short-term borrowings 390,391 — — 390,391 Term borrowings 119,486 67,683 — 187,169 Other liabilities 59,995 4,291 2,524 66,810 Total liabilities assumed 8,738,129 71,125 1,882 8,811,136 Net assets acquired $ 1,330,779 $ (261,329 ) $ (22,441 ) 1,047,009 Consideration paid: Equity (1,746,724 ) Cash (469,609 ) Total consideration paid (2,216,333 ) Goodwill $ 1,169,324 (a) Amounts reflect adjustments made to provisional fair value estimates during the measurement period ending November 30, 2018. These adjustments were recorded in FHN's Consolidated Condensed Statement of Condition as of June 30, 2018 with a corresponding adjustment to goodwill. (b) Amount represents a conformity adjustment to align with FHN presentation. (c) Amount primarily relates to a net deferred tax asset recorded for the effects of the purchase accounting adjustments. |
Merger And Integration Expense | Total CBF merger and integration expense recognized for the three and six months ended June 30, 2018 are presented in the table below: June 30, 2018 (Dollars in thousands) Three Months Ended Six Months Ended Professional fees (a) $ 8,989 $ 14,621 Employee compensation, incentives and benefits (b) 2,548 6,494 Contract employment and outsourcing (c) 1,704 3,103 Occupancy (d) 2,214 2,221 Miscellaneous expense (e) 3,103 5,138 All other expense (f) 23,244 40,285 Total $ 41,802 $ 71,862 (a) Primarily comprised of fees for legal, accounting, and merger consultants. (b) Primarily comprised of fees for severance and retention. (c) Primarily relates to fees for temporary assistance for merger and integration activities. (d) Primarily relates to fees associated with lease exit accruals. (e) Consists of fees for Operations services, communications and courier, equipment rentals, depreciation, and maintenance, supplies, travel and entertainment, computer software, and advertising and public relations. (f) Primarily relates to contract termination charges, costs of shareholder matters and asset impairments related to the integration, as well as other miscellaneous expenses. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of FHN's Investment Securities | The following tables summarize FHN’s investment securities on June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale: U.S. treasuries $ 100 $ — $ (2 ) $ 98 Government agency issued mortgage-backed securities (“MBS”) 2,564,334 4,524 (74,558 ) 2,494,300 Government agency issued collateralized mortgage obligations (“CMO”) 2,180,120 395 (72,935 ) 2,107,580 Other U.S. government agencies 54,797 — (395 ) 54,402 Corporates and other debt 55,609 488 (259 ) 55,838 States and municipalities 6,433 3 (30 ) 6,406 $ 4,861,393 $ 5,410 $ (148,179 ) 4,718,624 AFS debt securities recorded at fair value through earnings: SBA-interest only strips (a) 5,787 Total securities available-for-sale (b) $ 4,724,411 Securities held-to-maturity: Corporates and other debt $ 10,000 $ — $ (214 ) $ 9,786 Total securities held-to-maturity $ 10,000 $ — $ (214 ) $ 9,786 (a) SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value for additional information. (b) Includes $3.7 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. December 31, 2017 (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities available-for-sale: U.S. treasuries $ 100 $ — $ (1 ) $ 99 Government agency issued MBS 2,580,442 10,538 (13,604 ) 2,577,376 Government agency issued CMO 2,302,439 1,691 (34,272 ) 2,269,858 Corporates and other debt 55,799 23 (40 ) 55,782 Equity and other (a) 265,863 7 — 265,870 $ 5,204,643 $ 12,259 $ (47,917 ) 5,168,985 AFS debt securities recorded at fair value through earnings: SBA-interest only strips (b) 1,270 Total securities available-for-sale (c) $ 5,170,255 Securities held-to-maturity: Corporates and other debt $ 10,000 $ — $ (99 ) $ 9,901 Total securities held-to-maturity $ 10,000 $ — $ (99 ) $ 9,901 (a) Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $134.6 million . The remainder is money market, mutual funds, and cost method investments. Equity investments were reclassified to Other assets upon adoption of ASU 2016-01 on January 1, 2018. (b) SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. (c) Includes $4.0 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. |
Schedule of Amortized Cost And Fair Value By Contractual Maturity | The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity debt securities portfolios on June 30, 2018 are provided below: Held-to-Maturity Available-for-Sale (Dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Within 1 year $ — $ — $ 15,250 $ 15,042 After 1 year; within 5 years — — 95,255 95,321 After 5 years; within 10 years 10,000 9,786 — 1,360 After 10 years — — 6,434 10,808 Subtotal 10,000 9,786 116,939 122,531 Government agency issued MBS and CMO (a) — — 4,744,454 4,601,880 Total $ 10,000 $ 9,786 $ 4,861,393 $ 4,724,411 (a) 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 debt investment securities for the three and six months ended June 30 , 2018. Equity securities are included for periods prior to 2018. Three Months Ended Six Months Ended June 30 (Dollars in thousands) 2018 2017 2018 2017 Gross gains on sales of securities $ — $ 405 $ 52 $ 449 Gross (losses) on sales of securities — — — — Net gain/(loss) on sales of securities (a) (b) $ — $ 405 $ 52 $ 449 (a) Cash proceeds from the sale of available-for-sale securities for the three and six months ended June 30, 2018 and 2017 were not material. (b) Three and six months ended June 30, 2017 includes a $.4 million gain associated with the call of a $4.4 million held-to-maturity municipal bond. |
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 June 30, 2018 and December 31, 2017 : As of June 30, 2018 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. treasuries $ 98 $ (2 ) $ — $ — $ 98 $ (2 ) Government agency issued MBS 1,937,255 (57,182 ) 317,784 (17,376 ) 2,255,039 (74,558 ) Government agency issued CMO 1,278,976 (30,862 ) 754,927 (42,073 ) 2,033,903 (72,935 ) Other U.S. government agencies 54,402 (395 ) — — 54,402 (395 ) Corporates and other debt 40,586 (259 ) — — 40,586 (259 ) States and municipalities 4,724 (30 ) — — 4,724 (30 ) Total temporarily impaired securities $ 3,316,041 $ (88,730 ) $ 1,072,711 $ (59,449 ) $ 4,388,752 $ (148,179 ) As of December 31, 2017 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. treasuries $ 99 $ (1 ) $ — $ — $ 99 $ (1 ) Government agency issued MBS 1,455,476 (4,738 ) 331,900 (8,866 ) 1,787,376 (13,604 ) Government agency issued CMO 1,043,987 (7,464 ) 832,173 (26,808 ) 1,876,160 (34,272 ) Corporates and other debt 15,294 (40 ) — — 15,294 (40 ) Total temporarily impaired securities $ 2,514,856 $ (12,243 ) $ 1,164,073 $ (35,674 ) $ 3,678,929 $ (47,917 ) |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Schedule Of Loans By Portfolio Segment | The following table provides the balance of loans, net of unearned income, by portfolio segment as of June 30, 2018 and December 31, 2017 : June 30 December 31 (Dollars in thousands) 2018 2017 Commercial: Commercial, financial, and industrial $ 16,438,745 $ 16,057,273 Commercial real estate 4,136,356 4,214,695 Consumer: Consumer real estate (a) 6,222,611 6,367,755 Permanent mortgage 354,916 399,307 Credit card & other 549,112 619,899 Loans, net of unearned income $ 27,701,740 $ 27,658,929 Allowance for loan losses 185,462 189,555 Total net loans $ 27,516,278 $ 27,469,374 (a) Balances as of June 30, 2018 and December 31, 2017 , include $18.9 million and $24.2 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 | The following table presents a rollforward of the accretable yield for the three months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Balance, beginning of period $ 15,323 $ 5,198 $ 15,623 $ 6,871 Accretion (2,607 ) (919 ) (4,744 ) (1,770 ) Adjustment for payoffs (1,107 ) (761 ) (1,719 ) (1,034 ) Adjustment for charge-offs (373 ) — (924 ) — Adjustment for pool excess recovery (a) — — — (222 ) Increase/(decrease) in accretable yield (b) 3,481 409 6,659 114 Disposals (214 ) — (240 ) — Other (29 ) 118 (181 ) 86 Balance, end of period $ 14,474 $ 4,045 $ 14,474 $ 4,045 Certain previously reported amounts have been reclassified to agree with current presentation. (a) Represents the removal of accretable difference for the remaining loans in a pool which is now in a recovery state. (b) Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing and amounts of the cash flows. |
Schedule Of Acquired Purchase Credit Impaired Loans By Portfolio Segment | The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 (Dollars in thousands) Carrying value Unpaid balance Carrying value Unpaid balance Commercial, financial and industrial $ 54,143 $ 60,727 $ 96,598 $ 109,280 Commercial real estate 27,042 31,181 36,107 41,488 Consumer real estate 35,674 39,920 38,176 42,568 Credit card and other 2,969 3,381 5,500 6,351 Total $ 119,828 $ 135,209 $ 176,381 $ 199,687 Certain previously reported amounts have been reclassified to agree with current presentation. |
Information By Class Related To Individually Impaired Loans | The following tables provide information at June 30, 2018 and December 31, 2017 , 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, excluding any valuation allowance but including any direct write-down of the investment. For purposes of this disclosure, PCI loans and the TRUPs valuation allowance have been excluded. June 30, 2018 December 31, 2017 (Dollars in thousands) Recorded Unpaid Related Recorded Unpaid Related Impaired loans with no related allowance recorded: Commercial: General C&I $ 25,924 $ 37,325 $ — $ 8,183 $ 17,372 $ — Income CRE 1,748 1,748 — — — — Residential CRE 504 972 — — — — Total $ 28,176 $ 40,045 $ — $ 8,183 $ 17,372 $ — Consumer: HELOC (a) $ 8,811 $ 17,299 $ — $ 9,258 $ 19,193 $ — R/E installment loans (a) 3,370 3,834 — 4,093 4,663 — Permanent mortgage (a) 4,195 6,586 — 5,132 7,688 — Total $ 16,376 $ 27,719 $ — $ 18,483 $ 31,544 $ — Impaired loans with related allowance recorded: Commercial: General C&I $ 3,692 $ 3,692 $ 288 $ 31,774 $ 38,256 $ 5,119 TRUPS 2,983 3,700 925 3,067 3,700 925 Income CRE — — — 1,612 1,612 49 Residential CRE — — — 795 1,263 83 Total $ 6,675 $ 7,392 $ 1,213 $ 37,248 $ 44,831 $ 6,176 Consumer: HELOC $ 70,739 $ 73,717 $ 12,641 $ 72,469 $ 75,207 $ 14,382 R/E installment loans 39,415 40,168 7,758 43,075 43,827 8,793 Permanent mortgage 72,666 83,678 10,787 79,662 90,934 12,105 Credit card & other 604 604 305 593 593 311 Total $ 183,424 $ 198,167 $ 31,491 $ 195,799 $ 210,561 $ 35,591 Total commercial $ 34,851 $ 47,437 $ 1,213 $ 45,431 $ 62,203 $ 6,176 Total consumer $ 199,800 $ 225,886 $ 31,491 $ 214,282 $ 242,105 $ 35,591 Total impaired loans $ 234,651 $ 273,323 $ 32,704 $ 259,713 $ 304,308 $ 41,767 (a) All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. Three Months Ended June 30 Six Months Ended June 30 2018 2017 2018 2017 (Dollars in thousands) Average Interest Average Interest Average Interest Average Interest Impaired loans with no related allowance recorded: Commercial: General C&I $ 24,825 $ 183 $ 9,941 $ — $ 20,389 $ 358 $ 10,174 $ — Income CRE 1,665 13 — — 1,228 25 — — Residential CRE 500 — — — 374 — — — Total $ 26,990 $ 196 $ 9,941 $ — $ 21,991 $ 383 $ 10,174 $ — Consumer: HELOC (a) $ 9,034 $ — $ 10,331 $ — $ 9,145 $ — $ 10,692 $ — R/E installment loans (a) 3,553 — 3,925 — 3,733 — 3,931 — Permanent mortgage (a) 4,749 — 5,854 — 4,983 — 5,705 — Total $ 17,336 $ — $ 20,110 $ — $ 17,861 $ — $ 20,328 $ — Impaired loans with related allowance recorded: Commercial: General C&I $ 8,850 $ — $ 28,402 $ 189 $ 15,870 $ — $ 30,632 $ 403 TRUPS 3,005 — 3,160 — 3,026 — 3,178 — Income CRE — — 1,767 14 403 — 1,792 28 Residential CRE — — 1,293 5 199 — 1,293 10 Total $ 11,855 $ — $ 34,622 $ 208 $ 19,498 $ — $ 36,895 $ 441 Consumer: HELOC $ 70,789 $ 578 $ 78,608 $ 577 $ 71,222 $ 1,155 $ 80,841 $ 1,141 R/E installment loans 40,280 251 49,373 317 41,195 518 50,637 635 Permanent mortgage 74,227 574 81,475 574 75,976 1,152 83,626 1,189 Credit card & other 653 3 315 3 650 6 301 5 Total $ 185,949 $ 1,406 $ 209,771 $ 1,471 $ 189,043 $ 2,831 $ 215,405 $ 2,970 Total commercial $ 38,845 $ 196 $ 44,563 $ 208 $ 41,489 $ 383 $ 47,069 $ 441 Total consumer $ 203,285 $ 1,406 $ 229,881 $ 1,471 $ 206,904 $ 2,831 $ 235,733 $ 2,970 Total impaired loans $ 242,130 $ 1,602 $ 274,444 $ 1,679 $ 248,393 $ 3,214 $ 282,802 $ 3,411 (a) 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 June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) General C&I Loans to Mortgage Companies TRUPS (a) Income CRE Residential CRE Total Percentage of Total Allowance for Loan Losses PD Grade: 1 $ 547,654 $ — $ — $ 2,104 $ — $ 549,758 3 % $ 64 2 840,122 — — 10,236 41 850,399 4 280 3 633,000 727,078 — 255,090 214 1,615,382 8 255 4 845,405 586,315 — 457,716 — 1,889,436 9 700 5 1,892,574 347,919 63,017 463,421 1,421 2,768,352 13 8,003 6 1,475,963 426,654 90,296 447,840 6,117 2,446,870 12 8,830 7 2,387,509 109,693 65,193 499,585 5,054 3,067,034 15 14,442 8 1,078,583 70,924 4,068 220,208 11,600 1,385,383 7 19,828 9 2,604,602 86,253 45,117 1,382,306 60,385 4,178,663 20 22,349 10 371,017 — 18,536 54,896 3,488 447,937 2 8,782 11 257,439 — — 40,893 341 298,673 1 7,509 12 300,482 — — 110,184 6,306 416,972 2 5,802 13 247,731 — 17,621 57,845 9 323,206 2 8,895 14,15,16 209,046 — — 8,874 800 218,720 1 21,434 Collectively evaluated for impairment 13,691,127 2,354,836 303,848 4,011,198 95,776 20,456,785 99 127,173 Individually evaluated for impairment 29,617 — 2,982 1,748 504 34,851 — 1,213 Purchased credit-impaired loans 56,335 — — 23,781 3,349 83,465 1 2,280 Total commercial loans $ 13,777,079 $ 2,354,836 $ 306,830 $ 4,036,727 $ 99,629 $ 20,575,101 100 % $ 130,666 (a) Balances presented net of a $25.5 million valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade was “ 13 ” prior to second quarter 2018. In second quarter 2018, this portfolio was re-graded to align with the scorecard grading methodologies which resulted in upgrades to a majority of this portfolio. December 31, 2017 (Dollars in thousands) General C&I Loans to Mortgage Companies TRUPS (a) Income CRE Residential CRE Total Percentage of Total Allowance for Loan Losses PD Grade: 1 $ 536,244 $ — $ — $ 2,500 $ — $ 538,744 3 % $ 70 2 877,635 — — 1,798 69 879,502 4 339 3 582,224 652,982 — 210,073 40 1,445,319 7 272 4 959,581 629,432 — 309,699 — 1,898,712 9 854 5 1,461,632 328,477 — 415,764 2,474 2,208,347 11 7,355 6 1,668,247 335,169 — 456,706 3,179 2,463,301 12 10,495 7 2,257,400 47,720 — 554,590 9,720 2,869,430 14 13,490 8 1,092,994 35,266 — 241,938 6,454 1,376,652 7 21,831 9 2,633,854 70,915 — 1,630,176 61,475 4,396,420 22 9,804 10 373,537 — — 43,297 4,590 421,424 2 8,808 11 226,382 — — 31,785 2,936 261,103 1 6,784 12 409,838 — — 156,717 6,811 573,366 3 5,882 13 202,613 — 303,848 15,707 268 522,436 3 7,265 14,15,16 228,852 — — 6,587 823 236,262 1 24,400 Collectively evaluated for impairment 13,511,033 2,099,961 303,848 4,077,337 98,839 20,091,018 99 117,649 Individually evaluated for impairment 39,957 — 3,067 1,612 795 45,431 — 6,176 Purchased credit-impaired loans 99,407 — — 31,615 4,497 135,519 1 2,813 Total commercial loans $ 13,650,397 $ 2,099,961 $ 306,915 $ 4,110,564 $ 104,131 $ 20,271,968 100 % $ 126,638 (a) Balances presented net of a $25.5 million valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade was “ 13 ” prior to second quarter 2018. In second quarter 2018, this portfolio was re-graded to align with the scorecard grading methodologies which resulted in upgrades to a majority of this portfolio. |
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 June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 HELOC R/E Installment Loans Permanent Mortgage HELOC R/E Installment Loans Permanent Mortgage FICO score 740 or greater 61.4 % 74.8 % 50.4 % 60.0 % 73.1 % 46.4 % FICO score 720-739 8.7 7.7 10.2 8.7 8.0 12.8 FICO score 700-719 7.9 6.1 9.2 8.3 6.4 9.2 FICO score 660-699 10.7 6.7 13.9 11.1 7.2 14.8 FICO score 620-659 4.8 2.6 6.8 4.9 2.8 7.3 FICO score less than 620 (a) 6.5 2.1 9.5 7.0 2.5 9.5 Total 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % (a) 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 June 30, 2018 : Accruing Non-Accruing (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Total Accruing Current 30-89 Days Past Due 90+ Days Past Due Total Non- Accruing Total Loans Commercial (C&I): General C&I $ 13,696,352 $ 7,518 $ 639 $ 13,704,509 $ 9,358 $ 510 $ 6,367 $ 16,235 $ 13,720,744 Loans to mortgage companies 2,354,836 — — 2,354,836 — — — — 2,354,836 TRUPS (a) 303,848 — — 303,848 — — 2,982 2,982 306,830 Purchased credit-impaired loans 41,046 850 14,439 56,335 — — — — 56,335 Total commercial (C&I) 16,396,082 8,368 15,078 16,419,528 9,358 510 9,349 19,217 16,438,745 Commercial real estate: Income CRE 4,010,460 1,436 — 4,011,896 43 96 911 1,050 4,012,946 Residential CRE 95,887 — — 95,887 — — 393 393 96,280 Purchased credit-impaired loans 25,926 968 236 27,130 — — — — 27,130 Total commercial real estate 4,132,273 2,404 236 4,134,913 43 96 1,304 1,443 4,136,356 Consumer real estate: HELOC 1,557,368 13,302 7,669 1,578,339 46,823 4,157 8,852 59,832 1,638,171 R/E installment loans 4,511,603 10,938 6,014 4,528,555 14,766 1,721 3,083 19,570 4,548,125 Purchased credit-impaired loans 31,886 3,819 610 36,315 — — — — 36,315 Total consumer real estate 6,100,857 28,059 14,293 6,143,209 61,589 5,878 11,935 79,402 6,222,611 Permanent mortgage 323,736 2,391 4,419 330,546 13,143 259 10,968 24,370 354,916 Credit card & other: Credit card 189,849 1,097 1,055 192,001 — — — — 192,001 Other 347,702 5,534 460 353,696 100 51 209 360 354,056 Purchased credit-impaired loans 1,310 1,366 379 3,055 — — — — 3,055 Total credit card & other 538,861 7,997 1,894 548,752 100 51 209 360 549,112 Total loans, net of unearned income $ 27,491,809 $ 49,219 $ 35,920 $ 27,576,948 $ 84,233 $ 6,794 $ 33,765 $ 124,792 $ 27,701,740 (a) 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, 2017 : Accruing Non-Accruing (Dollars in thousands) Current 30-89 Days Past Due 90+ Days Past Due Total Accruing Current 30-89 Days Past Due 90+ Days Past Due Total Non- Accruing Total Loans Commercial (C&I): General C&I $ 13,514,752 $ 8,057 $ 95 $ 13,522,904 $ 1,761 $ 7,019 $ 19,306 $ 28,086 $ 13,550,990 Loans to mortgage companies 2,099,961 — — 2,099,961 — — — — 2,099,961 TRUPS (a) 303,848 — — 303,848 — — 3,067 3,067 306,915 Purchased credit-impaired loans 77,843 2,207 19,357 99,407 — — — — 99,407 Total commercial (C&I) 15,996,404 10,264 19,452 16,026,120 1,761 7,019 22,373 31,153 16,057,273 Commercial real estate: Income CRE 4,077,106 1,240 — 4,078,346 56 — 546 602 4,078,948 Residential CRE 98,844 — — 98,844 — — 791 791 99,635 Purchased credit-impaired loans 31,173 2,686 2,253 36,112 — — — — 36,112 Total commercial real estate 4,207,123 3,926 2,253 4,213,302 56 — 1,337 1,393 4,214,695 Consumer real estate: HELOC 1,743,776 17,744 9,702 1,771,222 40,508 3,626 8,354 52,488 1,823,710 R/E installment loans 4,475,669 7,274 3,573 4,486,516 14,439 1,957 2,603 18,999 4,505,515 Purchased credit-impaired loans 35,356 2,016 1,158 38,530 — — — — 38,530 Total consumer real estate 6,254,801 27,034 14,433 6,296,268 54,947 5,583 10,957 71,487 6,367,755 Permanent mortgage 365,527 3,930 3,460 372,917 13,245 1,052 12,093 26,390 399,307 Credit card & other: Credit card 193,940 1,371 1,053 196,364 — — — — 196,364 Other 415,070 2,666 103 417,839 31 — 165 196 418,035 Purchased credit-impaired loans 2,993 1,693 814 5,500 — — — — 5,500 Total credit card & other 612,003 5,730 1,970 619,703 31 — 165 196 619,899 Total loans, net of unearned income $ 27,435,858 $ 50,884 $ 41,568 $ 27,528,310 $ 70,040 $ 13,654 $ 46,925 $ 130,619 $ 27,658,929 (a) 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 and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 (Dollars in thousands) Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial (C&I): General C&I 3 $ 544 $ 537 8 $ 2,048 $ 1,751 Total commercial (C&I) 3 544 537 8 2,048 1,751 Commercial real estate: Income CRE 3 201 195 3 201 195 Total commercial real estate 3 201 195 3 201 195 Consumer real estate: HELOC 34 3,824 3,806 64 6,584 6,539 R/E installment loans 10 772 770 15 1,383 1,382 Total consumer real estate 44 4,596 4,576 79 7,967 7,921 Permanent mortgage 4 434 440 5 709 713 Credit card & other 27 95 94 68 305 291 Total troubled debt restructurings 81 $ 5,870 $ 5,842 163 $ 11,230 $ 10,871 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (Dollars in thousands) Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial (C&I): General C&I 1 $ 815 $ 799 2 $ 842 $ 836 Total commercial (C&I) 1 815 799 2 842 836 Consumer real estate: HELOC 27 2,293 2,270 62 4,882 4,743 R/E installment loans 14 799 782 28 1,756 1,684 Total consumer real estate 41 3,092 3,052 90 6,638 6,427 Permanent mortgage 4 699 693 9 2,009 1,996 Credit card & other 23 144 140 29 165 160 Total troubled debt restructurings 69 $ 4,750 $ 4,684 130 $ 9,654 $ 9,419 |
Schedule Of Troubled Debt Restructurings Within The Previous 12 Months | The following tables present TDRs which re-defaulted during the three and six months ended June 30, 2018 and 2017 , 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. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 (Dollars in thousands) Number Recorded Investment Number Recorded Investment Commercial (C&I): General C&I 1 $ 258 1 $ 258 Total commercial (C&I) 1 258 1 258 Consumer real estate: HELOC 2 95 4 164 R/E installment loans 1 25 1 25 Total consumer real estate 3 120 5 189 Permanent mortgage 1 293 2 405 Credit card & other 12 75 26 156 Total troubled debt restructurings 17 $ 746 34 $ 1,008 Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 (Dollars in thousands) Number Recorded Investment Number Recorded Investment Commercial (C&I): General C&I 2 $ 2,228 3 $ 8,007 Total commercial (C&I) 2 2,228 3 8,007 Consumer real estate: HELOC — — 4 685 Total consumer real estate — — 4 685 Permanent mortgage 1 538 1 538 Credit card & other 1 11 3 18 Total troubled debt restructurings 4 $ 2,777 11 $ 9,248 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [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 and six months ended June 30, 2018 and 2017 : (Dollars in thousands) C&I Commercial Real Estate Consumer Real Estate Permanent Mortgage Credit Card and Other Total Balance as of April 1, 2018 $ 100,238 $ 29,057 $ 32,750 $ 15,435 $ 9,714 $ 187,194 Charge-offs (3,287 ) (228 ) (1,481 ) (300 ) (4,712 ) (10,008 ) Recoveries 1,036 75 5,444 631 1,090 8,276 Provision/(provision credit) for loan losses (1,153 ) 4,928 (4,944 ) (1,688 ) 2,857 — Balance as of June 30, 2018 96,834 33,832 31,769 14,078 8,949 185,462 Balance as of January 1, 2018 $ 98,211 $ 28,427 $ 37,371 $ 15,565 $ 9,981 $ 189,555 Charge-offs (5,362 ) (272 ) (3,392 ) (460 ) (9,005 ) (18,491 ) Recoveries 2,555 81 9,827 696 2,239 15,398 Provision/(provision credit) for loan losses 1,430 5,596 (12,037 ) (1,723 ) 5,734 (1,000 ) Balance as of June 30, 2018 96,834 33,832 31,769 14,078 8,949 185,462 Allowance - individually evaluated for impairment 1,213 — 20,399 10,787 305 32,704 Allowance - collectively evaluated for impairment 93,429 33,744 10,730 3,291 8,557 149,751 Allowance - purchased credit-impaired loans 2,192 88 640 — 87 3,007 Loans, net of unearned as of June 30, 2018: Individually evaluated for impairment 32,599 2,252 122,335 76,861 604 234,651 Collectively evaluated for impairment 16,349,811 4,106,974 6,063,961 278,055 545,453 27,344,254 Purchased credit-impaired loans 56,335 27,130 36,315 — 3,055 122,835 Total loans, net of unearned income $ 16,438,745 $ 4,136,356 $ 6,222,611 $ 354,916 $ 549,112 $ 27,701,740 Balance as of April 1, 2017 $ 93,107 $ 30,888 $ 49,680 $ 15,893 $ 12,400 $ 201,968 Charge-offs (1,865 ) (20 ) (3,951 ) (843 ) (3,151 ) (9,830 ) Recoveries 600 140 5,143 488 748 7,119 Provision/(provision credit) for loan losses 537 (538 ) (4,803 ) 860 1,944 (2,000 ) Balance as of June 30, 2017 92,379 30,470 46,069 16,398 11,941 197,257 Balance as of January 1, 2017 $ 89,398 $ 33,852 $ 50,357 $ 16,289 $ 12,172 $ 202,068 Charge-offs (2,465 ) (20 ) (7,800 ) (1,326 ) (6,632 ) (18,243 ) Recoveries 2,276 361 10,819 1,391 1,585 16,432 Provision/(provision credit) for loan losses 3,170 (3,723 ) (7,307 ) 44 4,816 (3,000 ) Balance as of June 30, 2017 92,379 30,470 46,069 16,398 11,941 197,257 Allowance - individually evaluated for impairment 3,641 176 27,149 11,858 161 42,985 Allowance - collectively evaluated for impairment 88,609 30,277 18,536 4,540 11,780 153,742 Allowance - purchased credit-impaired loans 129 17 384 — — 530 Loans, net of unearned as of June 30, 2017: Individually evaluated for impairment 38,034 3,024 137,999 85,913 360 265,330 Collectively evaluated for impairment 12,538,913 2,204,947 4,278,063 322,182 353,135 19,697,240 Purchased credit-impaired loans 21,272 4,025 1,397 — 55 26,749 Total loans, net of unearned income $ 12,598,219 $ 2,211,996 $ 4,417,459 $ 408,095 $ 353,550 $ 19,989,319 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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: June 30, 2018 December 31, 2017 (Dollars in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Value Gross Carrying Amount Accumulated Amortization Net Carrying Value Core deposit intangibles (a) $ 157,150 $ (18,146 ) $ 139,004 $ 160,650 $ (8,176 ) $ 152,474 Customer relationships 77,865 (53,211 ) 24,654 77,865 (50,777 ) 27,088 Other (b) 5,622 (1,325 ) 4,297 5,622 (795 ) 4,827 Total $ 240,637 $ (72,682 ) $ 167,955 $ 244,137 $ (59,748 ) $ 184,389 (a) 2018 decrease in gross carrying amounts associated with the sale of two CBF branches and purchase accounting measurement period adjustments related to the CBF acquisition. See Note 2 - Acquisitions and Divestitures for additional information. (b) Balance primarily includes noncompete covenants, as well as $ .3 million related to state banking licenses not subject to amortization. |
Schedule Of Estimated Aggregate Amortization Expense for Intangible Assets | As of June 30, 2018 the estimated aggregated amortization expense is expected to be: (Dollars in thousands) Year Amortization Remainder of 2018 $ 12,931 2019 24,834 2020 21,159 2021 19,547 2022 17,412 2023 16,117 |
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 included in the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017 . (Dollars in thousands) Regional Banking Fixed Income Total December 31, 2016 $ 93,367 $ 98,004 $ 191,371 Additions (a) — 44,964 44,964 June 30, 2017 $ 93,367 $ 142,968 $ 236,335 December 31, 2017 $ 1,243,885 $ 142,968 $ 1,386,853 Additions (a) 22,423 — 22,423 June 30, 2018 $ 1,266,308 $ 142,968 $ 1,409,276 (a) 2017 increase associated with the Coastal acquisition, 2018 increase associated with measurement period adjustments for the CBF acquisition. See Note 2 - Acquisitions and Divestitures for additional information. |
Other Income And Other Expense
Other Income And Other Expense (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Other Income and Expenses [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 Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 All other income and commissions: Other service charges $ 3,728 $ 3,109 $ 8,076 $ 6,093 ATM and interchange fees 3,413 3,083 6,680 5,861 Dividend income (a) 3,124 — 5,373 — Mortgage banking 2,431 1,268 4,977 2,529 Letter of credit fees 1,295 1,122 2,544 2,158 Electronic banking fees 1,228 1,306 2,432 2,629 Deferred compensation 991 1,491 1,442 3,318 Insurance commissions 476 592 1,233 1,475 Other 2,748 2,646 9,920 4,945 Total $ 19,434 $ 14,617 $ 42,677 $ 29,008 All other expense: Travel and entertainment $ 5,131 $ 3,162 $ 8,114 $ 5,510 Other insurance and taxes 2,752 2,443 5,417 4,833 Supplies 1,987 1,093 3,823 1,956 Employee training and dues 1,849 1,453 3,628 2,996 Non-service components of net periodic pension and post-retirement cost 1,530 851 2,034 1,328 Customer relations 1,358 1,543 2,421 2,879 Tax credit investments 1,079 942 2,216 1,884 Miscellaneous loan costs 1,035 699 2,177 1,321 OREO 810 446 918 650 Litigation and regulatory matters 16 533 2,150 241 Other (b) 33,452 12,051 53,433 20,843 Total $ 50,999 $ 25,216 $ 86,331 $ 44,441 Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2017-07 “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” See Note 1 - Financial Information for additional information. (a) Effective January 1, 2018, FHN adopted ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” and began recording dividend income from FRB and FHLB holdings in Other income. Prior to first quarter 2018 these amounts were included in Interest income on the Consolidated Condensed Statements of Income. (b) Expense increase for the three and six months ended June 30, 2018 largely attributable to acquisition- and integration-related expenses associated with the CBF acquisition. See Note 2 - Acquisitions and Divestitures for additional information. |
Components of Other Comprehen33
Components of Other Comprehensive Income/(Loss) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Equity [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 and six months ended June 30, 2018 and 2017 : (Dollars in thousands) Securities AFS Cash Flow Pension and Total Balance as of April 1, 2018 $ (86,382 ) $ (16,763 ) $ (286,940 ) $ (390,085 ) Net unrealized gains/(losses) (21,094 ) (3,457 ) — (24,551 ) Amounts reclassified from AOCI — 463 2,059 2,522 Other comprehensive income/(loss) (21,094 ) (2,994 ) 2,059 (22,029 ) Balance as of June 30, 2018 $ (107,476 ) $ (19,757 ) $ (284,881 ) $ (412,114 ) Balance as of January 1, 2018 $ (26,834 ) $ (7,764 ) $ (288,227 ) $ (322,825 ) Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 (5 ) (206 ) — (211 ) Beginning balance, as adjusted $ (26,839 ) $ (7,970 ) $ (288,227 ) $ (323,036 ) Net unrealized gains/(losses) (80,598 ) (12,095 ) — (92,693 ) Amounts reclassified from AOCI (39 ) 308 3,346 3,615 Other comprehensive income/(loss) (80,637 ) (11,787 ) 3,346 (89,078 ) Balance as of June 30, 2018 $ (107,476 ) $ (19,757 ) $ (284,881 ) $ (412,114 ) (Dollars in thousands) Securities AFS Cash Flow Hedges Pension and Post-retirement Plans Total Balance as of April 1, 2017 $ (18,795 ) $ (3,179 ) $ (227,984 ) $ (249,958 ) Net unrealized gains/(losses) 9,188 3,059 — 12,247 Amounts reclassified from AOCI (250 ) (904 ) 1,403 249 Other comprehensive income/(loss) 8,938 2,155 1,403 12,496 Balance as of June 30, 2017 $ (9,857 ) $ (1,024 ) $ (226,581 ) $ (237,462 ) Balance as of January 1, 2017 $ (17,232 ) $ (1,265 ) $ (229,157 ) $ (247,654 ) Net unrealized gains/(losses) 7,652 1,997 — 9,649 Amounts reclassified from AOCI (277 ) (1,756 ) 2,576 543 Other comprehensive income/(loss) 7,375 241 2,576 10,192 Balance as of June 30, 2017 $ (9,857 ) $ (1,024 ) $ (226,581 ) $ (237,462 ) |
Reclassification Out Of Accumulated Other Comprehensive Income | Reclassifications from AOCI, and related tax effects, were as follows: (Dollars in thousands) Three Months Ended Six Months Ended June 30 Details about AOCI 2018 2017 2018 2017 Affected line item in the statement where net income is presented Securities AFS: Realized (gains)/losses on securities AFS $ — $ (405 ) $ (52 ) $ (449 ) Debt securities gains/(losses), net Tax expense/(benefit) — 155 13 172 Provision/(benefit) for income taxes — (250 ) (39 ) (277 ) Cash flow hedges: Realized (gains)/losses on cash flow hedges 615 (1,465 ) 409 (2,845 ) Interest and fees on loans Tax expense/(benefit) (152 ) 561 (101 ) 1,089 Provision/(benefit) for income taxes 463 (904 ) 308 (1,756 ) Pension and Postretirement Plans: Amortization of prior service cost and net actuarial gain/(loss) 2,735 2,273 4,444 4,173 All other expense Tax expense/(benefit) (676 ) (870 ) (1,098 ) (1,597 ) Provision/(benefit) for income taxes 2,059 1,403 3,346 2,576 Total reclassification from AOCI $ 2,522 $ 249 $ 3,615 $ 543 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
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 Six Months Ended (Dollars and shares in thousands, except per share data) 2018 2017 2018 2017 Net income/(loss) $ 85,992 $ 95,204 $ 180,986 $ 153,592 Net income attributable to noncontrolling interest 2,852 2,852 5,672 5,672 Net income/(loss) attributable to controlling interest 83,140 92,352 175,314 147,920 Preferred stock dividends 1,550 1,550 3,100 3,100 Net income/(loss) available to common shareholders $ 81,590 $ 90,802 $ 172,214 $ 144,820 Weighted average common shares outstanding—basic 325,153 233,482 325,817 233,280 Effect of dilutive securities 3,273 2,781 3,536 2,945 Weighted average common shares outstanding—diluted 328,426 236,263 329,353 236,225 Net income/(loss) per share available to common shareholders $ 0.25 $ 0.39 $ 0.53 $ 0.62 Diluted income/(loss) per share available to common shareholders $ 0.25 $ 0.38 $ 0.52 $ 0.61 |
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 Six Months Ended (Shares in thousands) 2018 2017 2018 2017 Stock options excluded from the calculation of diluted EPS 2,446 2,721 2,428 2,512 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 24.38 $ 25.24 $ 24.60 $ 25.85 Other equity awards excluded from the calculation of diluted EPS 565 482 404 247 |
Contingencies And Other Discl35
Contingencies And Other Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Participating Mortgage Loans | 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 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 |
Pension, Savings, And Other E36
Pension, Savings, And Other Employee Benefits (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Retirement Benefits [Abstract] | |
Schedule of Components of Net Periodic Benefit Cost | The amounts reclassified are presented in the table below. Three Months Ended Six Months Ended Fiscal Years Ended December 31 ( Dollars in thousands ) 2017 2016 2015 Net periodic benefit cost reclassified $ 812 $ 1,250 $ 1,946 $ (843 ) $ (1,168 ) The components of net periodic benefit cost for the three months ended June 30 are as follows: Pension Benefits Other Benefits (Dollars in thousands) 2018 2017 2018 2017 Components of net periodic benefit cost Service cost $ 10 $ 10 $ 34 $ 27 Interest cost 6,987 7,380 327 325 Expected return on plan assets (8,226 ) (8,890 ) (269 ) (237 ) Amortization of unrecognized: Prior service cost/(credit) — 13 — 24 Actuarial (gain)/loss 2,956 2,380 (91 ) (143 ) Net periodic benefit cost/(credit) $ 1,727 $ 893 $ 1 $ (4 ) The components of net periodic benefit cost for the six months ended June 30 are as follows: Pension Benefits Other Benefits (Dollars in thousands) 2018 2017 2018 2017 Components of net periodic benefit cost Service cost $ 20 $ 19 $ 67 $ 54 Interest cost 13,973 14,759 654 651 Expected return on plan assets (16,451 ) (17,781 ) (538 ) (474 ) Amortization of unrecognized: Prior service cost/(credit) — 26 — 48 Actuarial (gain)/loss 5,912 4,760 (182 ) (285 ) Net periodic benefit cost/(credit) $ 3,454 $ 1,783 $ 1 $ (6 ) |
Business Segment Information (T
Business Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Amounts Of Consolidated Revenue, Expense, Tax And Assets | The following table reflects the amounts of consolidated revenue, expense, tax, and average assets for each segment for the three and six months ended June 30 : Three Months Ended Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Consolidated Net interest income $ 310,932 $ 200,701 $ 612,105 $ 390,409 Provision/(provision credit) for loan losses — (2,000 ) (1,000 ) (3,000 ) Noninterest income 127,525 127,673 263,542 244,612 Noninterest expense 332,768 217,917 646,033 440,122 Income/(loss) before income taxes 105,689 112,457 230,614 197,899 Provision/(benefit) for income taxes 19,697 17,253 49,628 44,307 Net income/(loss) $ 85,992 $ 95,204 $ 180,986 $ 153,592 Average assets $ 40,173,712 $ 28,876,350 $ 40,261,729 $ 28,841,422 Three Months Ended Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Regional Banking Net interest income $ 308,870 $ 201,658 $ 607,569 $ 394,740 Provision/(provision credit) for loan losses 6,139 260 11,451 3,358 Noninterest income 78,568 64,740 157,421 123,718 Noninterest expense 212,445 152,637 417,646 300,687 Income/(loss) before income taxes 168,854 113,501 335,893 214,413 Provision/(benefit) for income taxes 39,634 41,015 78,996 77,491 Net income/(loss) $ 129,220 $ 72,486 $ 256,897 $ 136,922 Average assets $ 28,746,968 $ 18,432,141 $ 28,611,686 $ 18,195,201 Fixed Income Net interest income $ 9,174 $ 4,985 $ 17,637 $ 6,141 Noninterest income 38,363 55,207 83,968 106,030 Noninterest expense 48,300 54,022 98,844 102,729 Income/(loss) before income taxes (763 ) 6,170 2,761 9,442 Provision/(benefit) for income taxes (414 ) 1,941 328 2,959 Net income/(loss) $ (349 ) $ 4,229 $ 2,433 $ 6,483 Average assets $ 3,251,876 $ 2,696,144 $ 3,365,912 $ 2,288,083 Corporate Net interest income/(expense) $ (14,002 ) $ (14,637 ) $ (27,192 ) $ (28,408 ) Noninterest income 8,848 6,219 18,327 11,695 Noninterest expense 66,020 24,566 117,136 41,440 Income/(loss) before income taxes (71,174 ) (32,984 ) (126,001 ) (58,153 ) Provision/(benefit) for income taxes (21,691 ) (35,574 ) (34,135 ) (48,503 ) Net income/(loss) $ (49,483 ) $ 2,590 $ (91,866 ) $ (9,650 ) Average assets $ 6,956,898 $ 6,226,499 $ 7,033,090 $ 6,789,515 Non-Strategic Net interest income $ 6,890 $ 8,695 $ 14,091 $ 17,936 Provision/(provision credit) for loan losses (6,139 ) (2,260 ) (12,451 ) (6,358 ) Noninterest income 1,746 1,507 3,826 3,169 Noninterest expense 6,003 (13,308 ) 12,407 (4,734 ) Income/(loss) before income taxes 8,772 25,770 17,961 32,197 Provision/(benefit) for income taxes 2,168 9,871 4,439 12,360 Net income/(loss) $ 6,604 $ 15,899 $ 13,522 $ 19,837 Average assets $ 1,217,970 $ 1,521,566 $ 1,251,041 $ 1,568,623 Certain previously reported amounts have been reclassified to agree with current presentation. The following table reflects a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, 2018 (Dollars in thousands) Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income (a) $ 130 $ 37,567 $ — $ — $ 37,697 Deposit transactions and cash management 34,522 3 1,497 61 36,083 Brokerage, management fees and commissions 13,740 — — — 13,740 Trust services and investment management 8,146 — (14 ) — 8,132 Bankcard income 6,658 — 55 (78 ) 6,635 Bank-owned life insurance (b) — — 5,773 — 5,773 Debt securities gains/(losses), net (b) — — — — — Equity securities gains/(losses), net (b) — — 31 — 31 All other income and commissions (c) 15,372 793 1,506 1,763 19,434 Total noninterest income $ 78,568 $ 38,363 $ 8,848 $ 1,746 $ 127,525 Three Months Ended June 30, 2017 Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income $ 139 $ 54,971 $ — $ — $ 55,110 Deposit transactions and cash management 26,433 — 1,376 49 27,858 Brokerage, management fees and commissions 12,029 — — — 12,029 Trust services and investment management 7,712 — (14 ) — 7,698 Bankcard income 5,495 — 57 53 5,605 Bank-owned life insurance — — 4,351 — 4,351 Debt securities gains/(losses), net 386 — 19 — 405 Equity securities gains/(losses), net — — — — — All other income and commissions 12,546 236 430 1,405 14,617 Total noninterest income $ 64,740 $ 55,207 $ 6,219 $ 1,507 $ 127,673 (a) Includes $7.3 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("ASC") 606, "Revenue From Contracts With Customers." (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. Six Months Ended June 30, 2018 (Dollars in thousands) Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income (a) $ 211 $ 82,992 $ — $ — $ 83,203 Deposit transactions and cash management 69,262 6 2,691 108 72,067 Brokerage, management fees and commissions 27,223 — — — 27,223 Trust services and investment management 15,438 — (29 ) — 15,409 Bankcard income 12,951 — 112 17 13,080 Bank-owned life insurance (b) — — 9,766 — 9,766 Debt securities gains/(losses), net (b) — — 52 — 52 Equity securities gains/(losses), net (b) — — 65 — 65 All other income and commissions (c) (d) 32,336 970 5,670 3,701 42,677 Total noninterest income $ 157,421 $ 83,968 $ 18,327 $ 3,826 $ 263,542 Six Months Ended June 30, 2017 Regional Banking Fixed Income Corporate Non-Strategic Consolidated Noninterest income: Fixed income $ 213 $ 105,575 $ — $ — $ 105,788 Deposit transactions and cash management 49,667 — 2,665 91 52,423 Brokerage, management fees and commissions 23,935 — — — 23,935 Trust services and investment management 14,392 — (41 ) — 14,351 Bankcard income 10,837 — 113 110 11,060 Bank-owned life insurance — — 7,598 — 7,598 Debt securities gains/(losses), net 386 — 63 — 449 Equity securities gains/(losses), net — — — — — All other income and commissions 24,288 455 1,297 2,968 29,008 Total noninterest income $ 123,718 $ 106,030 $ 11,695 $ 3,169 $ 244,612 (a) Includes $15.6 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("ASC") 606, "Revenue From Contracts With Customers." (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. (d) Corporate includes a $3.3 million gain on the sale of a building. |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Variable Interest Entities | The following table summarizes FHN’s nonconsolidated VIEs as of June 30, 2018 : (Dollars in thousands) Maximum Loss Exposure Liability Recognized Classification Type Low income housing partnerships $ 96,289 $ 36,968 (a) Other tax credit investments (b) (c) 19,023 — Other assets Small issuer trust preferred holdings (d) 332,370 — Loans, net of unearned income On-balance sheet trust preferred securitization 48,479 65,695 (e) Proprietary residential mortgage securitizations 1,724 — Trading securities Holdings of agency mortgage-backed securities (d) 5,092,123 — (f) Commercial loan troubled debt restructurings (g) 18,612 — Loans, net of unearned income Sale-leaseback transaction 14,827 — (h) Proprietary trust preferred issuances (i) — 212,378 Term borrowings (a) Maximum loss exposure represents $59.3 million of current investments and $37.0 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 2020. (b) A liability is not recognized as investments are written down over the life of the related tax credit. (c) Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. (d) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (e) Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $65.7 million classified as Term borrowings. (f) Includes $.5 billion classified as Trading securities and $4.6 billion classified as Securities available-for-sale. (g) Maximum loss exposure represents $17.8 million of current receivables and $.8 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (h) Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. (i) No exposure to loss due to nature of FHN's involvement. The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2017 : (Dollars in thousands) Maximum Loss Exposure Liability Recognized Classification Type Low income housing partnerships $ 94,798 $ 33,348 (a) Other tax credit investments (b) (c) 20,394 — Other assets Small issuer trust preferred holdings (d) 332,455 — Loans, net of unearned income On-balance sheet trust preferred securitization 48,817 65,357 (e) Proprietary residential mortgage securitizations 2,151 — Trading securities Holdings of agency mortgage-backed securities (d) 5,349,287 — (f) Commercial loan troubled debt restructurings (g) 19,411 — Loans, net of unearned income Sale-leaseback transaction 14,827 — (h) Proprietary trust preferred issuances (i) — 212,378 Term borrowings (a) Maximum loss exposure represents $61.5 million of current investments and $33.3 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 2020. (b) A liability is not recognized as investments are written down over the life of the related tax credit. (c) Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. (d) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (e) Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $65.4 million classified as Term borrowings. (f) Includes $.5 billion classified as Trading securities and $4.8 billion classified as Securities available-for-sale. (g) Maximum loss exposure represents $19.1 million of current receivables and $ .3 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (h) Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. (i) No exposure to loss due to nature of FHN's involvement. The following table summarizes VIEs consolidated by FHN as of June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 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 18,921 N/A 24,175 N/A Less: Allowance for loan losses — N/A — N/A Total net loans 18,921 N/A 24,175 N/A Other assets 38 $ 82,802 47 $ 80,479 Total assets $ 18,959 $ 82,802 $ 24,222 $ 80,479 Liabilities: Term borrowings $ 6,004 N/A $ 11,226 N/A Other liabilities 1 $ 61,925 2 $ 61,733 Total liabilities $ 6,005 $ 61,925 $ 11,228 $ 61,733 The following table summarizes the impact to the Provision/(benefit) for income taxes on the Consolidated Condensed Statements of Income for the three and six months ended June 30, 2018 , and 2017 for LIHTC investments accounted for under the proportional amortization method. Three Months Ended Six Months Ended ( Dollars in thousands ) 2018 2017 2018 2017 Provision/(benefit) for income taxes: Amortization of qualifying LIHTC investments $ 2,191 $ 2,362 $ 4,547 $ 4,640 Low income housing tax credits (2,560 ) (2,598 ) (5,097 ) (4,998 ) Other tax benefits related to qualifying LIHTC investments (894 ) (910 ) (1,584 ) (1,829 ) |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives Associated With Fixed Income Trading Activities | The following tables summarize FHN’s derivatives associated with fixed income trading activities as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Notional Assets Liabilities Customer interest rate contracts $ 2,204,706 $ 9,837 $ 48,272 Offsetting upstream interest rate contracts 2,204,706 46,619 9,676 Option contracts purchased 70,000 58 — Forwards and futures purchased 5,466,761 16,942 1,902 Forwards and futures sold 5,556,237 2,185 16,836 December 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer interest rate contracts $ 2,026,753 $ 22,097 $ 18,323 Offsetting upstream interest rate contracts 2,026,753 17,931 20,720 Option contracts purchased 20,000 15 — Forwards and futures purchased 6,257,140 4,354 5,526 Forwards and futures sold 6,292,012 5,806 4,010 |
Derivatives Associated With Interest Rate Risk Management Activities | The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 1,843,573 $ 6,180 $ 42,760 Offsetting upstream interest rate contracts 1,843,573 40,026 6,383 Debt Hedging Hedging Instruments: Interest rate swaps $ 900,000 $ 22 $ 4 Hedged Items: Term borrowings: Par N/A N/A $ 900,000 Cumulative fair value hedging adjustments N/A N/A (21,542 ) Unamortized premium/(discount) and issuance costs N/A N/A (3,103 ) Total carrying value N/A N/A 875,355 December 31, 2017 (Dollars in thousands) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 1,608,912 $ 11,644 $ 19,780 Offsetting upstream interest rate contracts 1,608,912 18,473 11,019 Debt Hedging Hedging Instruments: Interest rate swaps $ 900,000 $ 371 N/A Hedged Items: Term borrowings: Par N/A N/A $ 900,000 Cumulative fair value hedging adjustments N/A N/A (13,472 ) Unamortized premium/(discount) and issuance costs N/A N/A (3,910 ) Total carrying value N/A N/A $ 882,618 |
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 and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Gains/(Losses) Gains/(Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts (a) $ (4,459 ) $ 4,099 $ (29,183 ) $ 823 Offsetting upstream interest rate contracts (a) 4,459 (4,099 ) 29,183 (823 ) Debt Hedging Hedging Instruments: Interest rate swaps (b) $ (1,545 ) $ 1,808 $ (8,140 ) $ (992 ) Hedged Items: Term borrowings (b) (c) 1,520 (1,804 ) 8,070 929 (a) Gains/losses included in All other expense within the Consolidated Condensed Statements of Income. (b) Gains/losses included in the Interest expense for 2018 and All other expense for 2017 within the Consolidated Condensed Statements of Income. (c) 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 June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate swaps $ 900,000 $ 24 $ 85 Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 900,000 N/A December 31, 2017 (Dollars in thousands) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate swaps $ 900,000 $ 942 N/A Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 900,000 N/A The following table summarizes gains/(losses) on FHN’s derivatives associated with cash flow hedges for the three and six months ended June 30, 2018 and 2017 : Three Months Ended Six Months Ended 2018 2017 2018 2017 (Dollars in thousands) Gains/(Losses) Gains/(Losses) Gains/(Losses) Gains/(Losses) Cash Flow Hedges Hedging Instruments: Interest rate swaps (a) $ (3,914 ) $ 3,491 $ (15,531 ) $ 390 Gain/(loss) recognized in Other comprehensive income/(loss) (3,457 ) 3,059 (12,095 ) 1,997 Gain/(loss) reclassified from AOCI into Interest income 463 (904 ) 308 (1,756 ) (a) Approximately $9.0 million of pre-tax losses are expected to be reclassified into earnings in the next twelve months. |
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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized assets Gross amounts offset in the Statements of Condition Net amounts of assets presented in the Statements of Condition (a) Derivative liabilities available for offset Collateral received Net amount Derivative assets: June 30, 2018 (b) $ 102,852 $ — $ 102,852 $ (13,490 ) $ (89,317 ) $ 45 December 31, 2017 (b) 71,458 — 71,458 (17,278 ) (51,271 ) 2,909 (a) Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017 , $19.2 million and $10.2 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. (b) Amounts are comprised entirely of interest rate derivative contracts. 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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized assets Gross amounts offset in the Statements of Condition Net amounts of assets presented in the Statements of Condition Offsetting securities sold under agreements to repurchase Securities collateral (not recognized on FHN’s Statements of Condition) Net amount Securities purchased under agreements to resell: June 30, 2018 $ 782,765 $ — $ 782,765 $ (2,090 ) $ (772,347 ) $ 8,328 December 31, 2017 725,609 — 725,609 (259 ) (720,036 ) 5,314 |
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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized liabilities Gross amounts offset in the Statements of Condition Net amounts of liabilities presented in the Statements of Condition (a) Derivative assets available for offset Collateral pledged Net amount Derivative liabilities: June 30, 2018 (b) $ 107,178 $ — $ 107,178 $ (13,490 ) $ (65,689 ) $ 27,999 December 31, 2017 (b) 69,842 — 69,842 (17,278 ) (51,801 ) 763 (a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017 , $28.2 million and $15.2 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. (b) Amounts are comprised entirely of interest rate derivative contracts. 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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized liabilities Gross amounts offset in the Statements of Condition Net amounts of liabilities presented in the Statements of Condition Offsetting securities purchased under agreements to resell Securities/ government guaranteed loans collateral Net amount Securities sold under agreements to repurchase: June 30, 2018 $ 713,152 $ — $ 713,152 $ (2,090 ) $ (710,862 ) $ 200 December 31, 2017 656,602 — 656,602 (259 ) (656,216 ) 127 |
Master Netting and Similar Ag40
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Master Netting And Similar Agreements) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Offsetting [Abstract] | |
Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties | The following table provides details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized assets Gross amounts offset in the Statements of Condition Net amounts of assets presented in the Statements of Condition (a) Derivative liabilities available for offset Collateral received Net amount Derivative assets: June 30, 2018 (b) $ 102,852 $ — $ 102,852 $ (13,490 ) $ (89,317 ) $ 45 December 31, 2017 (b) 71,458 — 71,458 (17,278 ) (51,271 ) 2,909 (a) Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017 , $19.2 million and $10.2 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. (b) Amounts are comprised entirely of interest rate derivative contracts. 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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized assets Gross amounts offset in the Statements of Condition Net amounts of assets presented in the Statements of Condition Offsetting securities sold under agreements to repurchase Securities collateral (not recognized on FHN’s Statements of Condition) Net amount Securities purchased under agreements to resell: June 30, 2018 $ 782,765 $ — $ 782,765 $ (2,090 ) $ (772,347 ) $ 8,328 December 31, 2017 725,609 — 725,609 (259 ) (720,036 ) 5,314 |
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company | The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized liabilities Gross amounts offset in the Statements of Condition Net amounts of liabilities presented in the Statements of Condition (a) Derivative assets available for offset Collateral pledged Net amount Derivative liabilities: June 30, 2018 (b) $ 107,178 $ — $ 107,178 $ (13,490 ) $ (65,689 ) $ 27,999 December 31, 2017 (b) 69,842 — 69,842 (17,278 ) (51,801 ) 763 (a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017 , $28.2 million and $15.2 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. (b) Amounts are comprised entirely of interest rate derivative contracts. 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 June 30, 2018 and December 31, 2017 : Gross amounts not offset in the Statements of Condition (Dollars in thousands) Gross amounts of recognized liabilities Gross amounts offset in the Statements of Condition Net amounts of liabilities presented in the Statements of Condition Offsetting securities purchased under agreements to resell Securities/ government guaranteed loans collateral Net amount Securities sold under agreements to repurchase: June 30, 2018 $ 713,152 $ — $ 713,152 $ (2,090 ) $ (710,862 ) $ 200 December 31, 2017 656,602 — 656,602 (259 ) (656,216 ) 127 |
Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase | The following tables provide details, by collateral type, of the remaining contractual maturity of Securities sold under agreements to repurchase as of June 30, 2018 and December 31, 2017 : June 30, 2018 (Dollars in thousands) Overnight and Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 24,153 $ — $ 24,153 Government agency issued MBS 383,835 6,929 390,764 Government agency issued CMO 54,530 3,023 57,553 Government guaranteed loans (SBA and USDA) 240,682 — 240,682 Total Securities sold under agreements to repurchase $ 703,200 $ 9,952 $ 713,152 December 31, 2017 (Dollars in thousands) Overnight and Continuous Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 13,830 $ — $ 13,830 Government agency issued MBS 424,821 5,365 430,186 Government agency issued CMO 54,037 3,666 57,703 Government guaranteed loans (SBA and USDA) 154,883 — 154,883 Total Securities sold under agreements to repurchase $ 647,571 $ 9,031 $ 656,602 |
Fair Value Of Assets And Liab41
Fair Value Of Assets And Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of June 30, 2018 : June 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities—fixed income: U.S. treasuries $ — $ 53,315 $ — $ 53,315 Government agency issued MBS — 185,118 — 185,118 Government agency issued CMO — 305,125 — 305,125 Other U.S. government agencies — 111,516 — 111,516 States and municipalities — 89,629 — 89,629 Corporates and other debt — 902,580 — 902,580 Equity, mutual funds, and other — 463 — 463 Total trading securities—fixed income — 1,647,746 — 1,647,746 Trading securities—mortgage banking — — 1,724 1,724 Loans held-for-sale (elected fair value) — 2,222 16,718 18,940 Securities available-for-sale: U.S. treasuries — 98 — 98 Government agency issued MBS — 2,494,300 — 2,494,300 Government agency issued CMO — 2,107,580 — 2,107,580 Other U.S. government agencies — 54,402 — 54,402 States and municipalities — 6,406 — 6,406 Corporates and other debt — 55,838 — 55,838 Interest-only strips (elected fair value) — — 5,787 5,787 Total securities available-for-sale — 4,718,624 5,787 4,724,411 Other assets: Deferred compensation mutual funds 40,068 — — 40,068 Equity, mutual funds, and other 27,135 — — 27,135 Derivatives, forwards and futures 19,127 — — 19,127 Derivatives, interest rate contracts — 102,766 — 102,766 Derivatives, other — 163 — 163 Total other assets 86,330 102,929 — 189,259 Total assets $ 86,330 $ 6,471,521 $ 24,229 $ 6,582,080 Trading liabilities—fixed income: U.S. treasuries $ — $ 520,463 $ — $ 520,463 Other U.S. government agencies — 329 — 329 States and municipalities — 2,572 — 2,572 Corporates and other debt — 220,357 — 220,357 Total trading liabilities—fixed income — 743,721 — 743,721 Other liabilities: Derivatives, forwards and futures 18,738 — — 18,738 Derivatives, interest rate contracts — 107,179 — 107,179 Derivatives, other — 7 9,425 9,432 Total other liabilities 18,738 107,186 9,425 135,349 Total liabilities $ 18,738 $ 850,907 $ 9,425 $ 879,070 The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2017 : December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Trading securities—fixed income: U.S. treasuries $ — $ 128,995 $ — $ 128,995 Government agency issued MBS — 227,038 — 227,038 Government agency issued CMO — 275,014 — 275,014 Other U.S. government agencies — 54,699 — 54,699 States and municipalities — 34,573 — 34,573 Corporates and other debt — 693,877 — 693,877 Equity, mutual funds, and other — (2 ) — (2 ) Total trading securities—fixed income — 1,414,194 — 1,414,194 Trading securities—mortgage banking — — 2,151 2,151 Loans held-for-sale — 1,955 18,926 20,881 Securities available-for-sale: U.S. treasuries — 99 — 99 Government agency issued MBS — 2,577,376 — 2,577,376 Government agency issued CMO — 2,269,858 — 2,269,858 Corporates and other debt — 55,782 — 55,782 Interest-only strips — — 1,270 1,270 Equity, mutual funds, and other 27,017 — — 27,017 Total securities available-for-sale 27,017 4,903,115 1,270 4,931,402 Other assets: Deferred compensation assets 39,822 — — 39,822 Derivatives, forwards and futures 10,161 — — 10,161 Derivatives, interest rate contracts — 71,473 — 71,473 Total other assets 49,983 71,473 — 121,456 Total assets $ 77,000 $ 6,390,737 $ 22,347 $ 6,490,084 Trading liabilities—fixed income: U.S. treasuries $ — $ 506,679 $ — $ 506,679 Corporates and other debt — 131,836 — 131,836 Total trading liabilities—fixed income — 638,515 — 638,515 Other liabilities: Derivatives, forwards and futures 9,535 — — 9,535 Derivatives, interest rate contracts — 69,842 — 69,842 Derivatives, other — 39 5,645 5,684 Total other liabilities 9,535 69,881 5,645 85,061 Total liabilities $ 9,535 $ 708,396 $ 5,645 $ 723,576 |
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value | The changes in Level 3 assets and liabilities measured at fair value for the three months ended June 30, 2018 and 2017 , on a recurring basis are summarized as follows: Three Months Ended June 30, 2018 (Dollars in thousands) Trading securities Interest- only strips- AFS Loans held- for-sale Net derivative liabilities Balance on April 1, 2018 $ 1,926 $ 2,733 $ 18,334 $ (5,645 ) Total net gains/(losses) included in: Net income 124 (296 ) 540 (4,079 ) Purchases — — 34 — Sales — — — — Settlements (326 ) — (2,134 ) 299 Net transfers into/(out of) Level 3 — 3,350 (b) (56 ) (d) — Balance on June 30, 2018 $ 1,724 $ 5,787 $ 16,718 $ (9,425 ) Net unrealized gains/(losses) included in net income $ 87 (a) $ (128 ) (c) $ 542 (a) $ (4,079 ) (e) Three Months Ended June 30, 2017 (Dollars in thousands) Trading securities Interest-only strips-AFS Loans held-for-sale Net derivative liabilities Balance on April 1, 2017 $ 2,335 $ — $ 21,221 $ (5,950 ) Total net gains/(losses) included in: Net income 271 267 410 (49 ) Purchases — 1,413 43 — Settlements (142 ) (3,291 ) (827 ) 299 Net transfers into/(out of) Level 3 — 2,774 (b) (260 ) (d) — Balance on June 30, 2017 $ 2,464 $ 1,163 $ 20,587 $ (5,700 ) Net unrealized gains/(losses) included in net income $ 229 (a) $ (53 ) (c) $ 410 (a) $ (49 ) (e) Certain previously reported amounts have been reclassified to agree with current presentation. (a) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. (b) Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held-for-sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Condensed Statements of Income. (d) Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into OREO (level 3 nonrecurring). (e) Included in Other expense. Changes in Recurring Level 3 Fair Value Measurements The changes in Level 3 assets and liabilities measured at fair value for the six months ended June 30, 2018 and 2017 , on a recurring basis are summarized as follows: Six Months Ended June 30, 2018 (Dollars in thousands) Trading securities Interest- only strips- AFS Loans held- for-sale Net derivative liabilities Balance on January 1, 2018 $ 2,151 $ 1,270 $ 18,926 $ (5,645 ) Total net gains/(losses) included in: Net income 140 1,296 709 (4,375 ) Purchases — — 62 — Sales — — — — Settlements (567 ) (9,193 ) (2,923 ) 595 Net transfers into/(out of) Level 3 — 12,414 (b) (56 ) (d) — Balance on June 30, 2018 $ 1,724 $ 5,787 $ 16,718 $ (9,425 ) Net unrealized gains/(losses) included in net income $ 63 (a) $ (109 ) (c) $ 709 (a) $ (4,375 ) (e) Six Months Ended June 30, 2017 (Dollars in thousands) Trading Interest-only-strips- AFS Loans held- Net derivative Balance on January 1, 2017 $ 2,573 $ — $ 21,924 $ (6,245 ) Total net gains/(losses) included in: Net income 288 267 1,332 (50 ) Purchases — 1,413 75 — Settlements (397 ) (3,291 ) (2,401 ) 595 Net transfers into/(out of) Level 3 — 2,774 (b) (343 ) (d) — Balance on June 30, 2017 $ 2,464 $ 1,163 $ 20,587 $ (5,700 ) Net unrealized gains/(losses) included in net income $ 202 (a) $ (53 ) (c) $ 1,332 (a) $ (50 ) (e) Certain previously reported amounts have been reclassified to agree with current presentation. (a) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income. (b) Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held-for-sale (Level 2 nonrecurring). (c) Primarily included in fixed income on the Consolidated Condensed Statements of Income. (d) Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into OREO (level 3 nonrecurring). (e) Included in Other expense. |
Nonrecurring Fair Value Measurements | For assets measured at fair value on a nonrecurring basis which were still held on the balance sheet at June 30, 2018 , and December 31, 2017 , respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value. Carrying value at June 30, 2018 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale—SBAs and USDA $ — $ 578,498 $ 1,025 $ 579,523 Loans held-for-sale—first mortgages — — 607 607 Loans, net of unearned income (a) — — 29,061 29,061 OREO (b) — — 26,457 26,457 Other assets (c) — — 24,699 24,699 Carrying value at December 31, 2017 (Dollars in thousands) Level 1 Level 2 Level 3 Total Loans held-for-sale—SBAs and USDA $ — $ 465,504 $ 1,473 $ 466,977 Loans held-for-sale—first mortgages — — 618 618 Loans, net of unearned income (a) — — 26,666 26,666 OREO (b) — — 39,566 39,566 Other assets (c) — — 26,521 26,521 (a) 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. (b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) Represents tax credit investments accounted for under the equity method |
Gains/(losses) on Nonrecurring 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 and six months ended June 30, 2018 and 2017 : Net gains/(losses) Net gains/(losses) (Dollars in thousands) 2018 2017 2018 2017 Loans held-for-sale—SBAs and USDA $ (1,425 ) $ (1,140 ) $ (1,987 ) $ (1,173 ) Loans held-for-sale—first mortgages (1 ) 13 4 16 Loans, net of unearned income (a) 665 (452 ) 1,167 32 OREO (b) (262 ) (176 ) (1,422 ) (621 ) Other assets (c) (1,079 ) (942 ) (2,216 ) (1,884 ) $ (2,102 ) $ (2,697 ) $ (4,454 ) $ (3,630 ) (a) Write-downs on these loans are recognized as part of provision for loan losses. (b) Represents losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) 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 | 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 June 30, 2018 and December 31, 2017 : (Dollars in thousands) Level 3 Class Fair Value at Valuation Techniques Unobservable Input Values Utilized Available-for-sale- securities SBA-interest only strips $ 5,787 Discounted cash flow Constant prepayment rate 11% Bond equivalent yield 12%- 14% Loans held-for-sale - residential real estate 17,325 Discounted cash flow Prepayment speeds - First mortgage 2% - 11% Prepayment speeds - HELOC 5% - 12% Foreclosure losses 50% - 70% Loss severity trends - First mortgage 5% - 25% of UPB Loss severity trends - HELOC 50% - 100% of UPB Loans held-for-sale- unguaranteed interest in SBA loans 1,025 Discounted cash flow Constant prepayment rate 8% - 12% Bond equivalent yield 13% - 14% Derivative liabilities, other 9,425 Discounted cash flow Visa covered litigation resolution amount $5.0 billion - $5.6 billion Probability of resolution scenarios 20% - 30% Time until resolution 24- 48 months Loans, net of unearned income (a) 29,061 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 OREO (b) 26,457 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 24,699 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 (a) 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. (b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) Represents tax credit investments accounted for under the equity method. (Dollars in thousands) Level 3 Class Fair Value at Valuation Techniques Unobservable Input Values Utilized Available-for-sale- securities SBA-interest only strips $ 1,270 Discounted cash flow Constant prepayment rate 10% - 11% Bond equivalent yield 17% Loans held-for-sale - residential real estate 19,544 Discounted cash flow Prepayment speeds - First mortgage 2% - 12% Prepayment speeds - HELOC 5% - 12% Foreclosure losses 50% - 70% Loss severity trends - First mortgage 5% - 30% of UPB Loss severity trends - HELOC 15% - 100% of UPB Loans held-for-sale- unguaranteed interest in SBA loans 1,473 Discounted cash flow Constant prepayment rate 8% - 12% Bond equivalent yield 9% - 10% Derivative liabilities, other 5,645 Discounted cash flow Visa covered litigation resolution amount $4.4 billion - $5.2 billion Probability of resolution scenarios 10% - 30% Time until resolution 18 - 48 months Loans, net of unearned income (a) 26,666 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 OREO (b) 39,566 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal Other assets (c) 26,521 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 (a) 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. (b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. (c) Represents tax credit investments accounted for under the equity method. |
Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount | The following tables reflect the differences between the fair value carrying amount of residential real estate loans held-for-sale measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity. June 30, 2018 (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 $ 18,940 $ 26,644 $ (7,704 ) Nonaccrual loans 4,674 8,830 (4,156 ) Loans 90 days or more past due and still accruing 34 51 (17 ) December 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 $ 20,881 $ 29,755 $ (8,874 ) Nonaccrual loans 5,783 10,881 (5,098 ) Loans 90 days or more past due and still accruing — — — |
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 Six Months Ended (Dollars in thousands) 2018 2017 2018 2017 Changes in fair value included in net income: Mortgage banking noninterest income Loans held-for-sale $ 540 $ 410 $ 709 $ 1,332 |
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 June 30, 2018 : June 30, 2018 Book Value Fair Value (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Loans, net of unearned income and allowance for loan losses Commercial: Commercial, financial and industrial $ 16,341,911 $ — $ — $ 16,289,383 $ 16,289,383 Commercial real estate 4,102,524 — — 4,106,951 4,106,951 Consumer: Consumer real estate 6,190,842 — — 6,139,842 6,139,842 Permanent mortgage 340,838 — — 347,349 347,349 Credit card & other 540,163 — — 539,609 539,609 Total loans, net of unearned income and allowance for loan losses 27,516,278 — — 27,423,134 27,423,134 Short-term financial assets: Interest-bearing cash 750,634 750,634 — — 750,634 Federal funds sold 91,303 — 91,303 — 91,303 Securities purchased under agreements to resell 782,765 — 782,765 — 782,765 Total short-term financial assets 1,624,702 750,634 874,068 — 1,624,702 Trading securities (a) 1,649,470 — 1,647,746 1,724 1,649,470 Loans held-for-sale Mortgage loans (elected fair value) (a) 18,940 — 2,222 16,718 18,940 USDA & SBA loans- LOCOM 579,523 — 581,051 1,038 582,089 Other consumer loans- LOCOM 30,175 — 6,959 23,216 30,175 Mortgage loans- LOCOM 64,021 — — 64,021 64,021 Total loans held-for-sale 692,659 — 590,232 104,993 695,225 Securities available-for-sale (a) 4,724,411 — 4,718,624 5,787 4,724,411 Securities held-to-maturity 10,000 — — 9,786 9,786 Derivative assets (a) 122,056 19,127 102,929 — 122,056 Other assets: Tax credit investments 119,186 — — 114,392 114,392 Deferred compensation mutual funds 40,068 40,068 — — 40,068 Equity, mutual funds, and other (b) 245,617 27,135 — 218,482 245,617 Total other assets 404,871 67,203 — 332,874 400,077 Total assets $ 36,744,447 $ 836,964 $ 7,933,599 $ 27,878,298 $ 36,648,861 Liabilities: Defined maturity deposits $ 3,543,987 $ — $ 3,518,069 $ — $ 3,518,069 Trading liabilities (a) 743,721 — 743,721 — 743,721 Short-term financial liabilities: Federal funds purchased 351,655 — 351,655 — 351,655 Securities sold under agreements to repurchase 713,152 — 713,152 — 713,152 Other short-term borrowings 1,836,852 — 1,836,852 — 1,836,852 Total short-term financial liabilities 2,901,659 — 2,901,659 — 2,901,659 Term borrowings: Real estate investment trust-preferred 46,134 — — 47,940 47,940 Term borrowings—new market tax credit investment 18,000 — — 17,898 17,898 Secured borrowings 34,046 — — 33,866 33,866 Junior subordinated debentures 187,950 — — 187,950 187,950 Other long term borrowings 941,151 — 953,035 — 953,035 Total term borrowings 1,227,281 — 953,035 287,654 1,240,689 Derivative liabilities (a) 135,349 18,738 107,186 9,425 135,349 Total liabilities $ 8,551,997 $ 18,738 $ 8,223,670 $ 297,079 $ 8,539,487 (a) Classes are detailed in the recurring and nonrecurring measurement tables. (b) Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $130.6 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, 2017 : December 31, 2017 Book Value Fair Value (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets: Loans, net of unearned income and allowance for loan losses Commercial: Commercial, financial and industrial $ 15,959,062 $ — $ — $ 15,990,991 $ 15,990,991 Commercial real estate 4,186,268 — — 4,215,367 4,215,367 Consumer: Consumer real estate 6,330,384 — — 6,320,308 6,320,308 Permanent mortgage 383,742 — — 388,396 388,396 Credit card & other 609,918 — — 607,955 607,955 Total loans, net of unearned income and allowance for loan losses 27,469,374 — — 27,523,017 27,523,017 Short-term financial assets: Interest-bearing cash 1,185,600 1,185,600 — — 1,185,600 Federal funds sold 87,364 — 87,364 — 87,364 Securities purchased under agreements to resell 725,609 — 725,609 — 725,609 Total short-term financial assets 1,998,573 1,185,600 812,973 — 1,998,573 Trading securities (a) 1,416,345 — 1,414,194 2,151 1,416,345 Loans held-for-sale Mortgage loans 88,173 — 6,902 81,271 88,173 USDA & SBA loans 466,977 — 467,227 1,510 468,737 Other consumer loans 144,227 — 9,965 134,262 144,227 Securities available-for-sale (a) (b) 5,170,255 27,017 4,903,115 240,123 5,170,255 Securities held-to-maturity 10,000 — — 9,901 9,901 Derivative assets (a) 81,634 10,161 71,473 — 81,634 Other assets: Tax credit investments 119,317 — — 112,292 112,292 Deferred compensation assets 39,822 39,822 — — 39,822 Total other assets 159,139 39,822 — 112,292 152,114 Nonearning assets: Cash & due from banks 639,073 639,073 — — 639,073 Fixed income receivables 68,693 — 68,693 — 68,693 Accrued interest receivable 97,239 — 97,239 — 97,239 Total nonearning assets 805,005 639,073 165,932 — 805,005 Total assets $ 37,809,702 $ 1,901,673 $ 7,851,781 $ 28,104,527 $ 37,857,981 Liabilities: Deposits: Defined maturity $ 3,322,921 $ — $ 3,293,650 $ — $ 3,293,650 Undefined maturity 27,297,441 — 27,297,431 — 27,297,431 Total deposits 30,620,362 — 30,591,081 — 30,591,081 Trading liabilities (a) 638,515 — 638,515 — 638,515 Short-term financial liabilities: Federal funds purchased 399,820 — 399,820 — 399,820 Securities sold under agreements to repurchase 656,602 — 656,602 — 656,602 Other short-term borrowings 2,626,213 — 2,626,213 — 2,626,213 Total short-term financial liabilities 3,682,635 — 3,682,635 — 3,682,635 Term borrowings: Real estate investment trust-preferred 46,100 — — 48,880 48,880 Term borrowings—new market tax credit investment 18,000 — — 17,930 17,930 Secured borrowings 18,642 — — 18,305 18,305 Junior subordinated debentures 187,281 — — 187,281 187,281 Other long term borrowings 948,074 — 966,292 — 966,292 Total term borrowings 1,218,097 — 966,292 272,396 1,238,688 Derivative liabilities (a) 85,061 9,535 69,881 5,645 85,061 Other noninterest-bearing liabilities: Fixed income payables 48,996 — 48,996 — 48,996 Accrued interest payable 16,270 — 16,270 — 16,270 Total other noninterest-bearing liabilities 65,266 — 65,266 — 65,266 Total liabilities $ 36,309,936 $ 9,535 $ 36,013,670 $ 278,041 $ 36,301,246 (a) Classes are detailed in the recurring and nonrecurring measurement tables. (b) Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $134.6 million . The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of June 30, 2018 and December 31, 2017 : Contractual Amount Fair Value (Dollars in thousands) June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 Unfunded Commitments: Loan commitments $ 10,228,615 $ 10,678,485 $ 2,186 $ 2,617 Standby and other commitments 464,600 420,728 5,028 5,274 |
Financial Information (Narrativ
Financial Information (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Product Information [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | $ (67) | $ 0 | ||
Available-for-sale Securities | Accounting Standards Update 2016-01 | ||||
Product Information [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | $ 265,900 | |||
Other Assets | Accounting Standards Update 2016-01 | ||||
Product Information [Line Items] | ||||
Cumulative effect of new accounting principle in period of adoption | $ (265,900) | |||
Non-Interest income | ||||
Product Information [Line Items] | ||||
Accounts receivable | $ 7,700 |
Financial Information (ASU 2016
Financial Information (ASU 2016-15) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Proceeds from BOLI | $ (7,630) | $ (5,690) | ||||
Accounting Standards Update 2016-15 | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Proceeds from BOLI | $ 4,997 | $ 5,690 | $ 11,440 | $ 2,740 | $ 2,425 |
Financial Information (ASU 2017
Financial Information (ASU 2017-07) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Employee Compensation, Incentives, and Benefits Expense | Accounting Standards Update 2017-07 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Cumulative effect of new accounting principle in period of adoption | $ 812 | $ 1,250 | $ 1,946 | $ (843) | $ (1,168) |
Acquisitions and Divestitures45
Acquisitions and Divestitures (Narrative) (Details) $ in Thousands | Mar. 23, 2018USD ($)branch | Nov. 30, 2017USD ($)branchshares | Apr. 03, 2017USD ($) | Jun. 30, 2018USD ($)shares | Jun. 30, 2018USD ($)branch | Dec. 31, 2017USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 1,409,276 | $ 1,409,276 | $ 1,386,853 | $ 236,335 | $ 191,371 | |||
Number of branches divested | branch | 2 | |||||||
Deposits disposed of | $ 22,600 | |||||||
Portion of Sub-prime Auto Loan Portfolios | ||||||||
Business Acquisition [Line Items] | ||||||||
Loans disposed of | 120,000 | $ 120,000 | ||||||
Apex Bank | ||||||||
Business Acquisition [Line Items] | ||||||||
Number of branches divested | branch | 2 | |||||||
Deposits disposed of | $ 30,000 | |||||||
Loans disposed of | $ 2,000 | |||||||
Capital Bank Financial Corp | ||||||||
Business Acquisition [Line Items] | ||||||||
Business acquisition, equity interest issued or issuable, number of shares (in shares) | shares | 92,042,232 | |||||||
Payments to acquire businesses | $ 423,600 | $ 46,000 | 469,609 | |||||
Business combination, consideration transferred | $ 2,200,000 | 2,216,333 | ||||||
Business acquisition, number of shares canceled (in shares) | shares | 2,373,220 | |||||||
Number of bank branches | branch | 178 | |||||||
Assets acquired | $ 9,900,000 | $ 9,858,145 | 9,858,145 | |||||
Loans | 7,300,000 | 7,276,544 | 7,276,544 | |||||
Securities available-for-sale | 1,200,000 | 1,193,393 | 1,193,393 | |||||
Deposits | $ 8,100,000 | 8,140,102 | 8,140,102 | |||||
Goodwill | 1,169,324 | 1,169,324 | ||||||
Loans held-for-sale | 124,918 | 124,918 | ||||||
Trading securities | 0 | 0 | ||||||
Securities sold under agreements to repurchase | $ 26,664 | $ 26,664 | ||||||
Coastal Securities, Inc | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to acquire businesses | $ 131,000 | |||||||
Assets acquired | 418,000 | |||||||
Goodwill | 45,000 | |||||||
Loans held-for-sale | 236,000 | |||||||
Trading securities | 139,000 | |||||||
Securities sold under agreements to repurchase | 202,000 | |||||||
Fixed income payables | $ 96,000 |
Acquisitions and Divestitures46
Acquisitions and Divestitures (Purchase Price Allocation) (Details) - USD ($) $ in Thousands | Nov. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | ||||
Assets: | ||||||||||||
Cash and cash equivalents | $ 602,952 | $ 602,952 | $ 639,073 | |||||||||
Trading securities | 1,649,470 | 1,649,470 | 1,416,345 | |||||||||
Loans held-for-sale | [1] | 692,659 | 692,659 | 699,377 | ||||||||
Securities available-for-sale | 5,170,255 | |||||||||||
Securities held-to-maturity | 10,000 | 10,000 | 10,000 | |||||||||
Loans | 27,701,740 | [2] | 27,701,740 | [2] | 27,658,929 | [2] | $ 19,989,319 | |||||
Allowance for loan losses | (185,462) | (185,462) | $ (187,194) | (189,555) | (197,257) | $ (201,968) | $ (202,068) | |||||
CBF Goodwill | 1,409,276 | 1,409,276 | 1,386,853 | 236,335 | 191,371 | |||||||
Other intangible assets | 167,955 | 167,955 | 184,389 | |||||||||
Premises and equipment | 525,175 | 525,175 | 532,251 | |||||||||
OREO | [3] | 29,712 | 29,712 | 43,382 | ||||||||
Other assets | 1,934,001 | 1,934,001 | 1,723,189 | |||||||||
Total assets | 41,076,795 | 41,076,795 | 41,423,388 | |||||||||
Liabilities: | ||||||||||||
Deposits | 30,977,867 | 30,977,867 | 30,620,362 | |||||||||
Securities sold under agreements to repurchase | 713,152 | 713,152 | 656,602 | |||||||||
Other short-term borrowings | 1,836,852 | 1,836,852 | 2,626,213 | |||||||||
Term borrowings | 1,227,281 | 1,227,281 | 1,218,097 | |||||||||
Other liabilities | 526,430 | 526,430 | 549,234 | |||||||||
Total liabilities | 36,527,046 | 36,527,046 | 36,842,900 | |||||||||
Consideration paid: | ||||||||||||
Goodwill | 1,409,276 | 1,409,276 | 1,386,853 | $ 236,335 | $ 191,371 | |||||||
Capital Bank Financial Corp | ||||||||||||
Assets: | ||||||||||||
CBF Goodwill | 1,169,324 | 1,169,324 | ||||||||||
Assets As Recorded: | ||||||||||||
Cash and cash equivalents | 205,999 | 205,999 | ||||||||||
Trading securities | 0 | 0 | ||||||||||
Loans held-for-sale | 124,918 | 124,918 | ||||||||||
Securities available-for-sale | $ 1,200,000 | 1,193,393 | 1,193,393 | |||||||||
Securities held-to-maturity | 0 | 0 | ||||||||||
Loans | 7,300,000 | 7,276,544 | 7,276,544 | |||||||||
Allowance for loan losses | 0 | 0 | ||||||||||
Other intangible assets | 141,207 | 141,207 | ||||||||||
Premises and equipment | 231,447 | 231,447 | ||||||||||
OREO | 33,613 | 33,613 | ||||||||||
Other assets | 651,024 | 651,024 | ||||||||||
Total assets acquired | 9,900,000 | 9,858,145 | 9,858,145 | |||||||||
Liabilities As Recorded: | ||||||||||||
Deposits | 8,100,000 | 8,140,102 | 8,140,102 | |||||||||
Securities sold under agreements to repurchase | 26,664 | 26,664 | ||||||||||
Other short-term borrowings | 390,391 | 390,391 | ||||||||||
Term borrowings | 187,169 | 187,169 | ||||||||||
Other liabilities | 66,810 | 66,810 | ||||||||||
Total liabilities assumed | 8,811,136 | 8,811,136 | ||||||||||
Net assets acquired | 1,047,009 | 1,047,009 | ||||||||||
Consideration paid: | ||||||||||||
Equity | (1,746,724) | |||||||||||
Cash | (423,600) | (46,000) | (469,609) | |||||||||
Total consideration paid | (2,200,000) | (2,216,333) | ||||||||||
Goodwill | 1,169,324 | 1,169,324 | ||||||||||
Capital Bank Financial Corp | Purchase Accounting/Fair Value Adjustments | ||||||||||||
Assets: | ||||||||||||
Cash and cash equivalents | 0 | 0 | 0 | |||||||||
Trading securities | 0 | 0 | (4,758) | |||||||||
Loans held-for-sale | (9,085) | (9,085) | 134,003 | |||||||||
Securities available-for-sale | 0 | 0 | 175,526 | |||||||||
Securities held-to-maturity | 0 | 0 | (177,549) | |||||||||
Loans | 867 | 867 | (320,372) | |||||||||
Allowance for loan losses | 0 | 0 | 45,711 | |||||||||
CBF Goodwill | 0 | 0 | (231,292) | |||||||||
Other intangible assets | (2,593) | (2,593) | 119,302 | |||||||||
Premises and equipment | (1,905) | (1,905) | 37,054 | |||||||||
OREO | (315) | (315) | (9,149) | |||||||||
Other assets | (7,528) | (7,528) | 41,320 | |||||||||
Total assets | (20,559) | (20,559) | (190,204) | |||||||||
Liabilities: | ||||||||||||
Deposits | (642) | (642) | (849) | |||||||||
Securities sold under agreements to repurchase | 0 | 0 | 0 | |||||||||
Other short-term borrowings | 0 | 0 | 0 | |||||||||
Term borrowings | 0 | 0 | 67,683 | |||||||||
Other liabilities | 2,524 | 2,524 | 4,291 | |||||||||
Total liabilities | 1,882 | 1,882 | 71,125 | |||||||||
Net assets acquired | (22,441) | (22,441) | (261,329) | |||||||||
Consideration paid: | ||||||||||||
Goodwill | $ 0 | $ 0 | $ (231,292) | |||||||||
Capital Bank Financial Corp | ||||||||||||
Assets: | ||||||||||||
Cash and cash equivalents | 205,999 | |||||||||||
Trading securities | 4,758 | |||||||||||
Loans held-for-sale | 0 | |||||||||||
Securities available-for-sale | 1,017,867 | |||||||||||
Securities held-to-maturity | 177,549 | |||||||||||
Loans | 7,596,049 | |||||||||||
Allowance for loan losses | (45,711) | |||||||||||
CBF Goodwill | 231,292 | |||||||||||
Other intangible assets | 24,498 | |||||||||||
Premises and equipment | 196,298 | |||||||||||
OREO | 43,077 | |||||||||||
Other assets | 617,232 | |||||||||||
Total assets | 10,068,908 | |||||||||||
Liabilities: | ||||||||||||
Deposits | 8,141,593 | |||||||||||
Securities sold under agreements to repurchase | 26,664 | |||||||||||
Other short-term borrowings | 390,391 | |||||||||||
Term borrowings | 119,486 | |||||||||||
Other liabilities | 59,995 | |||||||||||
Total liabilities | 8,738,129 | |||||||||||
Net assets acquired | 1,330,779 | |||||||||||
Consideration paid: | ||||||||||||
Goodwill | $ 231,292 | |||||||||||
[1] | June 30, 2018 and December 31, 2017 include $8.9 million and $11.7 million, respectively, of held-for-sale consumer mortgage loans secured by residential real estate in process of foreclosure. | |||||||||||
[2] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. | |||||||||||
[3] | June 30, 2018 and December 31, 2017 include $6.1 million and $6.3 million, respectively, of foreclosed residential real estate. |
Acquisitions and Divestitures47
Acquisitions and Divestitures (Merger and Integration Expenses) (Details) - Capital Bank Financial Corp - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Business Acquisition [Line Items] | ||
Merger and integration expense | $ 41,802 | $ 71,862 |
Professional fees | ||
Business Acquisition [Line Items] | ||
Merger and integration expense | 8,989 | 14,621 |
Employee compensation, incentives and benefits | ||
Business Acquisition [Line Items] | ||
Merger and integration expense | 2,548 | 6,494 |
Contract employment and outsourcing | ||
Business Acquisition [Line Items] | ||
Merger and integration expense | 1,704 | 3,103 |
Occupancy | ||
Business Acquisition [Line Items] | ||
Merger and integration expense | 2,214 | 2,221 |
Miscellaneous expense | ||
Business Acquisition [Line Items] | ||
Merger and integration expense | 3,103 | 5,138 |
All other expense | ||
Business Acquisition [Line Items] | ||
Merger and integration expense | $ 23,244 | $ 40,285 |
Investment Securities (Schedule
Investment Securities (Schedule Of FHN's Investment Securities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 4,861,393 | |
Fair Value | 4,724,411 | $ 5,170,255 |
Pledged available for sale securities | 3,700,000 | 4,000,000 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 10,000 | 10,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (214) | (99) |
Fair Value | 9,786 | 9,901 |
FHLB-Cincinnati | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Restricted investments | 87,900 | |
FRB | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Restricted investments | 134,600 | |
SBA-interest only strips | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value | 5,787 | 1,270 |
Corporates and other debt | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 10,000 | 10,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (214) | (99) |
Fair Value | 9,786 | 9,901 |
U.S. treasuries | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 100 | 100 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (2) | (1) |
Fair Value | 98 | 99 |
Government agency issued mortgage-backed securities (“MBS”) | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,564,334 | 2,580,442 |
Gross Unrealized Gains | 4,524 | 10,538 |
Gross Unrealized Losses | (74,558) | (13,604) |
Fair Value | 2,494,300 | 2,577,376 |
Government agency issued collateralized mortgage obligations (“CMO”) | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,180,120 | 2,302,439 |
Gross Unrealized Gains | 395 | 1,691 |
Gross Unrealized Losses | (72,935) | (34,272) |
Fair Value | 2,107,580 | 2,269,858 |
Other U.S. government agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 54,797 | 265,863 |
Gross Unrealized Gains | 0 | 7 |
Gross Unrealized Losses | (395) | 0 |
Fair Value | 54,402 | 265,870 |
Corporates and other debt | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 55,609 | 55,799 |
Gross Unrealized Gains | 488 | 23 |
Gross Unrealized Losses | (259) | (40) |
Fair Value | 55,838 | 55,782 |
States and municipalities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 6,433 | |
Gross Unrealized Gains | 3 | |
Gross Unrealized Losses | (30) | |
Fair Value | 6,406 | |
Securities available-for-sale | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 4,861,393 | 5,204,643 |
Gross Unrealized Gains | 5,410 | 12,259 |
Gross Unrealized Losses | (148,179) | (47,917) |
Fair Value | $ 4,718,624 | $ 5,168,985 |
Investment Securities (Schedu49
Investment Securities (Schedule Of Amortized Cost And Fair Value By Contractual Maturity) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Amortized Cost | ||
Within 1 year | $ 0 | |
After 1 year; within 5 years | 0 | |
After 5 years; within 10 years | 10,000 | |
After 10 years | 0 | |
Subtotal | 10,000 | |
Government agency issued MBS and CMO | 0 | |
Amortized Cost | 10,000 | $ 10,000 |
Fair Value | ||
Within 1 year | 0 | |
After 1 year; within 5 years | 0 | |
After 5 years; within 10 years | 9,786 | |
After 10 years | 0 | |
Subtotal | 9,786 | |
Government agency issued MBS and CMO | 0 | |
Total | 9,786 | 9,901 |
Amortized Cost | ||
Within 1 year | 15,250 | |
After 1 year; within 5 years | 95,255 | |
After 5 years; within 10 years | 0 | |
After 10 years | 6,434 | |
Subtotal | 116,939 | |
Government agency issued MBS and CMO | 4,744,454 | |
Amortized Cost | 4,861,393 | |
Fair Value | ||
Within 1 year | 15,042 | |
After 1 year; within 5 years | 95,321 | |
After 5 years; within 10 years | 1,360 | |
After 10 years | 10,808 | |
Subtotal | 122,531 | |
Government agency issued MBS and CMO | 4,601,880 | |
Total | $ 4,724,411 | $ 5,170,255 |
Investment Securities (Schedu50
Investment Securities (Schedule Of Realized Gross Gains And Losses On Sale From Available For Sale Portfolio) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross gains on sales of securities | $ 0 | $ 405 | $ 52 | $ 449 |
Gross (losses) on sales of securities | 0 | 0 | 0 | 0 |
Net gain/(loss) on sales of securities | $ 0 | 405 | $ 52 | 449 |
Gain associated with call of held-to-maturity securities | 400 | 400 | ||
Held-to-maturity security called | $ 4,400 | $ 4,400 |
Investment Securities (Schedu51
Investment Securities (Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 3,316,041 | $ 2,514,856 |
Less than 12 months, Unrealized Losses | (88,730) | (12,243) |
12 months or longer, Fair Value | 1,072,711 | 1,164,073 |
12 months or longer, Unrealized Losses | (59,449) | (35,674) |
Total Fair Value | 4,388,752 | 3,678,929 |
Total Unrealized Losses | (148,179) | (47,917) |
U.S. treasuries | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 98 | 99 |
Less than 12 months, Unrealized Losses | (2) | (1) |
12 months or longer, Fair Value | 0 | 0 |
12 months or longer, Unrealized Losses | 0 | 0 |
Total Fair Value | 98 | 99 |
Total Unrealized Losses | (2) | (1) |
Government agency issued MBS | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,937,255 | 1,455,476 |
Less than 12 months, Unrealized Losses | (57,182) | (4,738) |
12 months or longer, Fair Value | 317,784 | 331,900 |
12 months or longer, Unrealized Losses | (17,376) | (8,866) |
Total Fair Value | 2,255,039 | 1,787,376 |
Total Unrealized Losses | (74,558) | (13,604) |
Government agency issued CMO | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 1,278,976 | 1,043,987 |
Less than 12 months, Unrealized Losses | (30,862) | (7,464) |
12 months or longer, Fair Value | 754,927 | 832,173 |
12 months or longer, Unrealized Losses | (42,073) | (26,808) |
Total Fair Value | 2,033,903 | 1,876,160 |
Total Unrealized Losses | (72,935) | (34,272) |
Other U.S. government agencies | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 54,402 | |
Less than 12 months, Unrealized Losses | (395) | |
12 months or longer, Fair Value | 0 | |
12 months or longer, Unrealized Losses | 0 | |
Total Fair Value | 54,402 | |
Total Unrealized Losses | (395) | |
Corporates and other debt | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 40,586 | |
Less than 12 months, Unrealized Losses | (259) | |
12 months or longer, Fair Value | 0 | |
12 months or longer, Unrealized Losses | 0 | |
Total Fair Value | 40,586 | |
Total Unrealized Losses | (259) | |
States and municipalities | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 4,724 | |
Less than 12 months, Unrealized Losses | (30) | |
12 months or longer, Fair Value | 0 | |
12 months or longer, Unrealized Losses | 0 | |
Total Fair Value | 4,724 | |
Total Unrealized Losses | $ (30) | |
Corporates and other debt | ||
Schedule of Investments [Line Items] | ||
Less than 12 months, Fair Value | 15,294 | |
Less than 12 months, Unrealized Losses | (40) | |
12 months or longer, Fair Value | 0 | |
12 months or longer, Unrealized Losses | 0 | |
Total Fair Value | 15,294 | |
Total Unrealized Losses | $ (40) |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |||
Carrying amount of equity investments without a readily determinable fair value | $ 16.4 | $ 16.4 | $ 16.3 |
Unrealized gain for equity investments with readily determinable fair values | $ 0.7 | $ 1.1 |
Loans (Schedule Of Loans By Por
Loans (Schedule Of Loans By Portfolio Segment) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | $ 27,701,740 | [1] | $ 27,658,929 | [1] | $ 19,989,319 | |||
Allowance for loan losses | 185,462 | $ 187,194 | 189,555 | 197,257 | $ 201,968 | $ 202,068 | ||
Total net loans | 27,516,278 | 27,469,374 | ||||||
Commercial, financial and industrial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 16,438,745 | 16,057,273 | 12,598,219 | |||||
Allowance for loan losses | 96,834 | 100,238 | 98,211 | 92,379 | 93,107 | 89,398 | ||
Commercial real estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 4,136,356 | 4,214,695 | 2,211,996 | |||||
Allowance for loan losses | 33,832 | 29,057 | 28,427 | 30,470 | 30,888 | 33,852 | ||
Consumer real estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 6,222,611 | 6,367,755 | 4,417,459 | |||||
Allowance for loan losses | 31,769 | 32,750 | 37,371 | 46,069 | 49,680 | 50,357 | ||
Permanent mortgage | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 354,916 | 399,307 | 408,095 | |||||
Allowance for loan losses | 14,078 | 15,435 | 15,565 | 16,398 | 15,893 | 16,289 | ||
Credit card & other | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | 549,112 | 619,899 | 353,550 | |||||
Allowance for loan losses | 8,949 | $ 9,714 | 9,981 | $ 11,941 | $ 12,400 | $ 12,172 | ||
Restricted real estate loans | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans, net of unearned income | $ 18,900 | $ 24,200 | ||||||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($)grade | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)grade | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance - purchased credit-impaired loans | $ 3,007,000 | $ 530,000 | $ 3,007,000 | $ 530,000 | $ 3,200,000 |
Provision expense (credit) for loan and lease losses | 1,800,000 | (100,000) | 2,600,000 | (200,000) | |
Financing receivable, modifications, recorded investment | $ 217,600,000 | $ 217,600,000 | 234,400,000 | ||
Residential Real Estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Concentration risk, percentage | 24.00% | ||||
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% | 0.25% | |||
Modified interest rate increase | 2.00% | 2.00% | |||
Permanent Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance - purchased credit-impaired loans | $ 0 | 0 | $ 0 | 0 | |
TDR, reduction of interest rate by increment, basis points | 0.25% | 0.25% | |||
Modified interest rate increase | 1.00% | 1.00% | |||
TDRS maturities | 40 years | ||||
Consumer Real Estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Concentration risk, percentage | 23.00% | ||||
Allowance - purchased credit-impaired loans | $ 640,000 | $ 384,000 | $ 640,000 | $ 384,000 | |
TDRS maturities | 30 years | ||||
Credit card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Credit card workout program, granted rate reduction | 0.00% | 0.00% | |||
Allowance For TDRs To Recorded Investment Of TDRs | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Valuation allowance | $ 31,500,000 | $ 31,500,000 | $ 37,300,000 | ||
Ratio of the allowance for loan losses to loans | 14.00% | 14.00% | 16.00% | ||
Loans Held-For-Sale | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, modifications, recorded investment | $ 60,500,000 | $ 60,500,000 | $ 63,200,000 | ||
Minimum | Heloc And Real Estate Installment Classes | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Modified interest rate | 1.00% | 1.00% | |||
Modified interest rate time period | 5 years | ||||
Minimum | Permanent Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Modified interest rate | 2.00% | 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 | ||||
Maximum | Heloc And Real Estate Installment Classes | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Modified interest rate time period | 5 years | ||||
Maximum | Permanent Mortgage | |||||
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 | ||||
Commercial Loan P D Grade One | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Lowest expected default probability | grade | 1 | 1 | |||
Pass | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 1 | 1 | |||
Pass | Maximum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 12 | 12 | |||
Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 13 | 13 | |||
Special Mention | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 13 | 13 | |||
Unlikely to be Collected Financing Receivable | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 16 | 16 | |||
Unlikely to be Collected Financing Receivable | Maximum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 16 | 16 | |||
Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 14 | 14 | |||
Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 15 | 15 | |||
Loan Reassessed | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loans | $ 1,000,000 | $ 1,000,000 | |||
Commercial Loan P D Grade Thirteen | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loans | $ 500,000 | $ 500,000 | |||
Commercial Loan L G D Grade One | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 1 | 1 | |||
Commercial Loan L G D Grade Twelve | Maximum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loan grades | grade | 12 | 12 | |||
Commercial Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loans | $ 20,575,101,000 | $ 20,575,101,000 | 20,271,968,000 | ||
Allowance - purchased credit-impaired loans | 2,280,000 | 2,280,000 | 2,813,000 | ||
Commercial Portfolio Segment | Finance And Insurance Companies | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loans | $ 2,800,000,000 | $ 2,800,000,000 | |||
Percentage of commercial & industrial loan portfolio | 17.00% | 17.00% | |||
Percentage contributed in total loan | 10.00% | 10.00% | |||
Commercial Portfolio Segment | Loans to Mortgage Companies | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial loans | $ 2,354,836,000 | $ 2,354,836,000 | $ 2,099,961,000 | ||
Percentage of commercial & industrial loan portfolio | 14.00% | 14.00% | |||
Percentage contributed in total loan | 9.00% | 9.00% | |||
Commercial Portfolio Segment | Finance Insurance And Loans To Mortgage Companies | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage of commercial & industrial loan portfolio | 31.00% | 31.00% | |||
Commercial Portfolio Segment | Minimum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Forbearance agreements time period | 6 months | ||||
Commercial Portfolio Segment | Maximum | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Forbearance agreements time period | 12 months |
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance, beginning of period | $ 15,323 | $ 5,198 | $ 15,623 | $ 6,871 |
Accretion | (2,607) | (919) | (4,744) | (1,770) |
Adjustment for payoffs | (1,107) | (761) | (1,719) | (1,034) |
Adjustment for charge-offs | (373) | 0 | (924) | 0 |
Adjustment for pool excess recovery | 0 | 0 | 0 | (222) |
Increase/(decrease) in accretable yield | 3,481 | 409 | 6,659 | 114 |
Disposals | (214) | 0 | (240) | 0 |
Other | (29) | 118 | (181) | 86 |
Balance, end of period | $ 14,474 | $ 4,045 | $ 14,474 | $ 4,045 |
Loans (Schedule Of Acquired Pur
Loans (Schedule Of Acquired Purchase Credit Impaired Loans By Portfolio Segment) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | $ 119,828 | $ 176,381 |
Unpaid balance | 135,209 | 199,687 |
Commercial, financial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 54,143 | 96,598 |
Unpaid balance | 60,727 | 109,280 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 27,042 | 36,107 |
Unpaid balance | 31,181 | 41,488 |
Consumer real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 35,674 | 38,176 |
Unpaid balance | 39,920 | 42,568 |
Credit card & other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying value | 2,969 | 5,500 |
Unpaid balance | $ 3,381 | $ 6,351 |
Loans (Information By Class Rel
Loans (Information By Class Related To Individually Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | $ 234,651 | $ 234,651 | $ 259,713 | ||
Unpaid Principal Balance | 273,323 | 273,323 | 304,308 | ||
Related Allowance | 32,704 | 32,704 | 41,767 | ||
Average Recorded Investment | 242,130 | $ 274,444 | 248,393 | $ 282,802 | |
Interest Income Recognized | 1,602 | 1,679 | 3,214 | 3,411 | |
Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 34,851 | 34,851 | 45,431 | ||
Unpaid Principal Balance | 47,437 | 47,437 | 62,203 | ||
Related Allowance | 1,213 | 1,213 | 6,176 | ||
Average Recorded Investment | 38,845 | 44,563 | 41,489 | 47,069 | |
Interest Income Recognized | 196 | 208 | 383 | 441 | |
Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 199,800 | 199,800 | 214,282 | ||
Unpaid Principal Balance | 225,886 | 225,886 | 242,105 | ||
Related Allowance | 31,491 | 31,491 | 35,591 | ||
Average Recorded Investment | 203,285 | 229,881 | 206,904 | 235,733 | |
Interest Income Recognized | 1,406 | 1,471 | 2,831 | 2,970 | |
Impaired loans with no related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 28,176 | 28,176 | 8,183 | ||
Unpaid Principal Balance | 40,045 | 40,045 | 17,372 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 26,990 | 9,941 | 21,991 | 10,174 | |
Interest Income Recognized | 196 | 0 | 383 | 0 | |
Impaired loans with no related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 16,376 | 16,376 | 18,483 | ||
Unpaid Principal Balance | 27,719 | 27,719 | 31,544 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 17,336 | 20,110 | 17,861 | 20,328 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Impaired loans with related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 6,675 | 6,675 | 37,248 | ||
Unpaid Principal Balance | 7,392 | 7,392 | 44,831 | ||
Related Allowance | 1,213 | 1,213 | 6,176 | ||
Average Recorded Investment | 11,855 | 34,622 | 19,498 | 36,895 | |
Interest Income Recognized | 0 | 208 | 0 | 441 | |
Impaired loans with related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 183,424 | 183,424 | 195,799 | ||
Unpaid Principal Balance | 198,167 | 198,167 | 210,561 | ||
Related Allowance | 31,491 | 31,491 | 35,591 | ||
Average Recorded Investment | 185,949 | 209,771 | 189,043 | 215,405 | |
Interest Income Recognized | 1,406 | 1,471 | 2,831 | 2,970 | |
General C&I | Impaired loans with no related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 25,924 | 25,924 | 8,183 | ||
Unpaid Principal Balance | 37,325 | 37,325 | 17,372 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 24,825 | 9,941 | 20,389 | 10,174 | |
Interest Income Recognized | 183 | 0 | 358 | 0 | |
General C&I | Impaired loans with related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 3,692 | 3,692 | 31,774 | ||
Unpaid Principal Balance | 3,692 | 3,692 | 38,256 | ||
Related Allowance | 288 | 288 | 5,119 | ||
Average Recorded Investment | 8,850 | 28,402 | 15,870 | 30,632 | |
Interest Income Recognized | 0 | 189 | 0 | 403 | |
TRUPS | Impaired loans with related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 2,983 | 2,983 | 3,067 | ||
Unpaid Principal Balance | 3,700 | 3,700 | 3,700 | ||
Related Allowance | 925 | 925 | 925 | ||
Average Recorded Investment | 3,005 | 3,160 | 3,026 | 3,178 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Income CRE | Impaired loans with no related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 1,748 | 1,748 | 0 | ||
Unpaid Principal Balance | 1,748 | 1,748 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 1,665 | 0 | 1,228 | 0 | |
Interest Income Recognized | 13 | 0 | 25 | 0 | |
Income CRE | Impaired loans with related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 0 | 0 | 1,612 | ||
Unpaid Principal Balance | 0 | 0 | 1,612 | ||
Related Allowance | 0 | 0 | 49 | ||
Average Recorded Investment | 0 | 1,767 | 403 | 1,792 | |
Interest Income Recognized | 0 | 14 | 0 | 28 | |
Residential CRE | Impaired loans with no related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 504 | 504 | 0 | ||
Unpaid Principal Balance | 972 | 972 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 500 | 0 | 374 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Residential CRE | Impaired loans with related allowance recorded | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 0 | 0 | 795 | ||
Unpaid Principal Balance | 0 | 0 | 1,263 | ||
Related Allowance | 0 | 0 | 83 | ||
Average Recorded Investment | 0 | 1,293 | 199 | 1,293 | |
Interest Income Recognized | 0 | 5 | 0 | 10 | |
HELOC | Impaired loans with no related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 8,811 | 8,811 | 9,258 | ||
Unpaid Principal Balance | 17,299 | 17,299 | 19,193 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 9,034 | 10,331 | 9,145 | 10,692 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
HELOC | Impaired loans with related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 70,739 | 70,739 | 72,469 | ||
Unpaid Principal Balance | 73,717 | 73,717 | 75,207 | ||
Related Allowance | 12,641 | 12,641 | 14,382 | ||
Average Recorded Investment | 70,789 | 78,608 | 71,222 | 80,841 | |
Interest Income Recognized | 578 | 577 | 1,155 | 1,141 | |
R/E installment loans | Impaired loans with no related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 3,370 | 3,370 | 4,093 | ||
Unpaid Principal Balance | 3,834 | 3,834 | 4,663 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 3,553 | 3,925 | 3,733 | 3,931 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
R/E installment loans | Impaired loans with related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 39,415 | 39,415 | 43,075 | ||
Unpaid Principal Balance | 40,168 | 40,168 | 43,827 | ||
Related Allowance | 7,758 | 7,758 | 8,793 | ||
Average Recorded Investment | 40,280 | 49,373 | 41,195 | 50,637 | |
Interest Income Recognized | 251 | 317 | 518 | 635 | |
Permanent mortgage | Impaired loans with no related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 4,195 | 4,195 | 5,132 | ||
Unpaid Principal Balance | 6,586 | 6,586 | 7,688 | ||
Related Allowance | 0 | 0 | 0 | ||
Average Recorded Investment | 4,749 | 5,854 | 4,983 | 5,705 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Permanent mortgage | Impaired loans with related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 72,666 | 72,666 | 79,662 | ||
Unpaid Principal Balance | 83,678 | 83,678 | 90,934 | ||
Related Allowance | 10,787 | 10,787 | 12,105 | ||
Average Recorded Investment | 74,227 | 81,475 | 75,976 | 83,626 | |
Interest Income Recognized | 574 | 574 | 1,152 | 1,189 | |
Credit card & other | Impaired loans with related allowance recorded | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Recorded Investment | 604 | 604 | 593 | ||
Unpaid Principal Balance | 604 | 604 | 593 | ||
Related Allowance | 305 | 305 | $ 311 | ||
Average Recorded Investment | 653 | 315 | 650 | 301 | |
Interest Income Recognized | $ 3 | $ 3 | $ 6 | $ 5 |
Loans (Balances Of Commercial L
Loans (Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade) (Details) $ in Thousands | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($)grade | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | $ 27,344,254 | $ 19,697,240 | ||||
Total loans individually evaluated for impairment | 234,651 | 265,330 | ||||
Purchased credit-impaired loans | 122,835 | 26,749 | ||||
Allowance for Loan Losses | 185,462 | $ 187,194 | $ 189,555 | 197,257 | $ 201,968 | $ 202,068 |
Allowance - collectively evaluated for impairment | 149,751 | 153,742 | ||||
Allowance - individually evaluated for impairment | 32,704 | 42,985 | ||||
Allowance - purchased credit-impaired loans | 3,007 | 3,200 | $ 530 | |||
Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 20,456,785 | 20,091,018 | ||||
Total loans individually evaluated for impairment | 34,851 | 45,431 | ||||
Purchased credit-impaired loans | 83,465 | 135,519 | ||||
Total commercial loans | $ 20,575,101 | $ 20,271,968 | ||||
Percent of total commercial loans (percent) | 100.00% | 100.00% | ||||
Percent of loan collectively evaluated for impairment (percent) | 99.00% | 99.00% | ||||
Percent of loan individually evaluated for impairment (percent) | 0.00% | 0.00% | ||||
Percent of loan purchased-credit impaired (percent) | 1.00% | 1.00% | ||||
Allowance for Loan Losses | $ 130,666 | $ 126,638 | ||||
Allowance - collectively evaluated for impairment | 127,173 | 117,649 | ||||
Allowance - individually evaluated for impairment | 1,213 | 6,176 | ||||
Allowance - purchased credit-impaired loans | 2,280 | 2,813 | ||||
General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 13,691,127 | 13,511,033 | ||||
Total loans individually evaluated for impairment | 29,617 | 39,957 | ||||
Purchased credit-impaired loans | 56,335 | 99,407 | ||||
Total commercial loans | 13,777,079 | 13,650,397 | ||||
Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 2,354,836 | 2,099,961 | ||||
Total loans individually evaluated for impairment | 0 | 0 | ||||
Purchased credit-impaired loans | 0 | 0 | ||||
Total commercial loans | 2,354,836 | 2,099,961 | ||||
TRUPS | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Valuation allowance | 25,500 | 25,500 | ||||
TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 303,848 | 303,848 | ||||
Total loans individually evaluated for impairment | 2,982 | 3,067 | ||||
Purchased credit-impaired loans | 0 | 0 | ||||
Total commercial loans | 306,830 | 306,915 | ||||
Valuation allowance | 25,500 | $ 25,500 | ||||
Highest internal grade | grade | 13 | |||||
Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 4,011,198 | $ 4,077,337 | ||||
Total loans individually evaluated for impairment | 1,748 | 1,612 | ||||
Purchased credit-impaired loans | 23,781 | 31,615 | ||||
Total commercial loans | 4,036,727 | 4,110,564 | ||||
Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans collectively evaluated for impairment | 95,776 | 98,839 | ||||
Total loans individually evaluated for impairment | 504 | 795 | ||||
Purchased credit-impaired loans | 3,349 | 4,497 | ||||
Total commercial loans | 99,629 | 104,131 | ||||
Commercial Loan P D Grade One | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 549,758 | $ 538,744 | ||||
Percent of total commercial loans (percent) | 3.00% | 3.00% | ||||
Allowance for Loan Losses | $ 64 | $ 70 | ||||
Commercial Loan P D Grade One | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 547,654 | 536,244 | ||||
Commercial Loan P D Grade One | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade One | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade One | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 2,104 | 2,500 | ||||
Commercial Loan P D Grade One | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Two | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 850,399 | $ 879,502 | ||||
Percent of total commercial loans (percent) | 4.00% | 4.00% | ||||
Allowance for Loan Losses | $ 280 | $ 339 | ||||
Commercial Loan P D Grade Two | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 840,122 | 877,635 | ||||
Commercial Loan P D Grade Two | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Two | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Two | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 10,236 | 1,798 | ||||
Commercial Loan P D Grade Two | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 41 | 69 | ||||
Commercial Loan P D Grade Three | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 1,615,382 | $ 1,445,319 | ||||
Percent of total commercial loans (percent) | 8.00% | 7.00% | ||||
Allowance for Loan Losses | $ 255 | $ 272 | ||||
Commercial Loan P D Grade Three | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 633,000 | 582,224 | ||||
Commercial Loan P D Grade Three | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 727,078 | 652,982 | ||||
Commercial Loan P D Grade Three | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Three | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 255,090 | 210,073 | ||||
Commercial Loan P D Grade Three | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 214 | 40 | ||||
Commercial Loan P D Grade Four | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 1,889,436 | $ 1,898,712 | ||||
Percent of total commercial loans (percent) | 9.00% | 9.00% | ||||
Allowance for Loan Losses | $ 700 | $ 854 | ||||
Commercial Loan P D Grade Four | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 845,405 | 959,581 | ||||
Commercial Loan P D Grade Four | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 586,315 | 629,432 | ||||
Commercial Loan P D Grade Four | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Four | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 457,716 | 309,699 | ||||
Commercial Loan P D Grade Four | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Five | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 2,768,352 | $ 2,208,347 | ||||
Percent of total commercial loans (percent) | 13.00% | 11.00% | ||||
Allowance for Loan Losses | $ 8,003 | $ 7,355 | ||||
Commercial Loan P D Grade Five | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,892,574 | 1,461,632 | ||||
Commercial Loan P D Grade Five | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 347,919 | 328,477 | ||||
Commercial Loan P D Grade Five | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 63,017 | 0 | ||||
Commercial Loan P D Grade Five | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 463,421 | 415,764 | ||||
Commercial Loan P D Grade Five | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,421 | 2,474 | ||||
Commercial Loan P D Grade Six | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 2,446,870 | $ 2,463,301 | ||||
Percent of total commercial loans (percent) | 12.00% | 12.00% | ||||
Allowance for Loan Losses | $ 8,830 | $ 10,495 | ||||
Commercial Loan P D Grade Six | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,475,963 | 1,668,247 | ||||
Commercial Loan P D Grade Six | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 426,654 | 335,169 | ||||
Commercial Loan P D Grade Six | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 90,296 | 0 | ||||
Commercial Loan P D Grade Six | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 447,840 | 456,706 | ||||
Commercial Loan P D Grade Six | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 6,117 | 3,179 | ||||
Commercial Loan P D Grade Seven | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 3,067,034 | $ 2,869,430 | ||||
Percent of total commercial loans (percent) | 15.00% | 14.00% | ||||
Allowance for Loan Losses | $ 14,442 | $ 13,490 | ||||
Commercial Loan P D Grade Seven | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 2,387,509 | 2,257,400 | ||||
Commercial Loan P D Grade Seven | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 109,693 | 47,720 | ||||
Commercial Loan P D Grade Seven | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 65,193 | 0 | ||||
Commercial Loan P D Grade Seven | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 499,585 | 554,590 | ||||
Commercial Loan P D Grade Seven | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 5,054 | 9,720 | ||||
Commercial Loan P D Grade Eight | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 1,385,383 | $ 1,376,652 | ||||
Percent of total commercial loans (percent) | 7.00% | 7.00% | ||||
Allowance for Loan Losses | $ 19,828 | $ 21,831 | ||||
Commercial Loan P D Grade Eight | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,078,583 | 1,092,994 | ||||
Commercial Loan P D Grade Eight | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 70,924 | 35,266 | ||||
Commercial Loan P D Grade Eight | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 4,068 | 0 | ||||
Commercial Loan P D Grade Eight | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 220,208 | 241,938 | ||||
Commercial Loan P D Grade Eight | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 11,600 | 6,454 | ||||
Commercial Loan P D Grade Nine | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 4,178,663 | $ 4,396,420 | ||||
Percent of total commercial loans (percent) | 20.00% | 22.00% | ||||
Allowance for Loan Losses | $ 22,349 | $ 9,804 | ||||
Commercial Loan P D Grade Nine | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 2,604,602 | 2,633,854 | ||||
Commercial Loan P D Grade Nine | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 86,253 | 70,915 | ||||
Commercial Loan P D Grade Nine | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 45,117 | 0 | ||||
Commercial Loan P D Grade Nine | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 1,382,306 | 1,630,176 | ||||
Commercial Loan P D Grade Nine | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 60,385 | 61,475 | ||||
Commercial Loan P D Grade Ten | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 447,937 | $ 421,424 | ||||
Percent of total commercial loans (percent) | 2.00% | 2.00% | ||||
Allowance for Loan Losses | $ 8,782 | $ 8,808 | ||||
Commercial Loan P D Grade Ten | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 371,017 | 373,537 | ||||
Commercial Loan P D Grade Ten | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Ten | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 18,536 | 0 | ||||
Commercial Loan P D Grade Ten | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 54,896 | 43,297 | ||||
Commercial Loan P D Grade Ten | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 3,488 | 4,590 | ||||
Commercial Loan P D Grade Eleven | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 298,673 | $ 261,103 | ||||
Percent of total commercial loans (percent) | 1.00% | 1.00% | ||||
Allowance for Loan Losses | $ 7,509 | $ 6,784 | ||||
Commercial Loan P D Grade Eleven | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 257,439 | 226,382 | ||||
Commercial Loan P D Grade Eleven | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Eleven | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Eleven | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 40,893 | 31,785 | ||||
Commercial Loan P D Grade Eleven | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 341 | 2,936 | ||||
Commercial Loan P D Grade Twelve | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 416,972 | $ 573,366 | ||||
Percent of total commercial loans (percent) | 2.00% | 3.00% | ||||
Allowance for Loan Losses | $ 5,802 | $ 5,882 | ||||
Commercial Loan P D Grade Twelve | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 300,482 | 409,838 | ||||
Commercial Loan P D Grade Twelve | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Twelve | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Twelve | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 110,184 | 156,717 | ||||
Commercial Loan P D Grade Twelve | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 6,306 | 6,811 | ||||
Commercial Loan P D Grade Thirteen | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 323,206 | $ 522,436 | ||||
Percent of total commercial loans (percent) | 2.00% | 3.00% | ||||
Allowance for Loan Losses | $ 8,895 | $ 7,265 | ||||
Commercial Loan P D Grade Thirteen | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 247,731 | 202,613 | ||||
Commercial Loan P D Grade Thirteen | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Thirteen | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 17,621 | 303,848 | ||||
Commercial Loan P D Grade Thirteen | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 57,845 | 15,707 | ||||
Commercial Loan P D Grade Thirteen | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 9 | 268 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 218,720 | $ 236,262 | ||||
Percent of total commercial loans (percent) | 1.00% | 1.00% | ||||
Allowance for Loan Losses | $ 21,434 | $ 24,400 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen | General C&I | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 209,046 | 228,852 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen | Loans to Mortgage Companies | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen | TRUPS | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 0 | 0 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen | Income CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | 8,874 | 6,587 | ||||
Commercial Loan P D Grade Fourteen Fifteen Sixteen | Residential CRE | Commercial Portfolio Segment | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial loan, Disaggregated by PD grade | $ 800 | $ 823 |
Loans (Loans by FICO Score, Con
Loans (Loans by FICO Score, Consumer) (Details) | Jun. 30, 2018 | Dec. 31, 2017 |
HELOC | FICO score 740 or greater | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 61.40% | 60.00% |
HELOC | FICO score 720-739 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 8.70% | 8.70% |
HELOC | FICO score 700-719 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 7.90% | 8.30% |
HELOC | FICO score 660-699 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 10.70% | 11.10% |
HELOC | FICO score 620-659 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 4.80% | 4.90% |
HELOC | FICO score less than 620 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 6.50% | 7.00% |
HELOC | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 100.00% | 100.00% |
R/E Installment Loans | FICO score 740 or greater | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 74.80% | 73.10% |
R/E Installment Loans | FICO score 720-739 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 7.70% | 8.00% |
R/E Installment Loans | FICO score 700-719 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 6.10% | 6.40% |
R/E Installment Loans | FICO score 660-699 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 6.70% | 7.20% |
R/E Installment Loans | FICO score 620-659 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 2.60% | 2.80% |
R/E Installment Loans | FICO score less than 620 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 2.10% | 2.50% |
R/E Installment Loans | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 100.00% | 100.00% |
Permanent Mortgage | FICO score 740 or greater | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 50.40% | 46.40% |
Permanent Mortgage | FICO score 720-739 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 10.20% | 12.80% |
Permanent Mortgage | FICO score 700-719 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 9.20% | 9.20% |
Permanent Mortgage | FICO score 660-699 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 13.90% | 14.80% |
Permanent Mortgage | FICO score 620-659 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 6.80% | 7.30% |
Permanent Mortgage | FICO score less than 620 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 9.50% | 9.50% |
Permanent Mortgage | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Average refreshed FICO score (percent) | 100.00% | 100.00% |
Loans (Accruing And Non-Accruin
Loans (Accruing And Non-Accruing Loans By Class) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | $ 27,701,740 | [1] | $ 27,658,929 | [1] | $ 19,989,319 |
General C&I | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 13,720,744 | 13,550,990 | |||
Loans to Mortgage Companies | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 2,354,836 | 2,099,961 | |||
TRUPS | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 306,830 | 306,915 | |||
Valuation allowance | 25,500 | 25,500 | |||
Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 56,335 | 99,407 | |||
C&I | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 16,438,745 | 16,057,273 | 12,598,219 | ||
Income CRE | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 4,012,946 | 4,078,948 | |||
Residential CRE | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 96,280 | 99,635 | |||
Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 27,130 | 36,112 | |||
Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 4,136,356 | 4,214,695 | 2,211,996 | ||
HELOC | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 1,638,171 | 1,823,710 | |||
R/E Installment Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 4,548,125 | 4,505,515 | |||
Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 36,315 | 38,530 | |||
Consumer real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 6,222,611 | 6,367,755 | 4,417,459 | ||
Permanent mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 354,916 | 399,307 | 408,095 | ||
Credit card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 192,001 | 196,364 | |||
Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 354,056 | 418,035 | |||
Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 3,055 | 5,500 | |||
Credit card & other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Total loans, net of unearned income | 549,112 | 619,899 | $ 353,550 | ||
Accruing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 27,491,809 | 27,435,858 | |||
Total Accruing | 27,576,948 | 27,528,310 | |||
Accruing | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 49,219 | 50,884 | |||
Accruing | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 35,920 | 41,568 | |||
Accruing | General C&I | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 13,696,352 | 13,514,752 | |||
Total Accruing | 13,704,509 | 13,522,904 | |||
Accruing | General C&I | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 7,518 | 8,057 | |||
Accruing | General C&I | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 639 | 95 | |||
Accruing | Loans to Mortgage Companies | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,354,836 | 2,099,961 | |||
Total Accruing | 2,354,836 | 2,099,961 | |||
Accruing | Loans to Mortgage Companies | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | Loans to Mortgage Companies | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | TRUPS | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 303,848 | 303,848 | |||
Total Accruing | 303,848 | 303,848 | |||
Accruing | TRUPS | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | TRUPS | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 41,046 | 77,843 | |||
Total Accruing | 56,335 | 99,407 | |||
Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 850 | 2,207 | |||
Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 14,439 | 19,357 | |||
Accruing | C&I | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 16,396,082 | 15,996,404 | |||
Total Accruing | 16,419,528 | 16,026,120 | |||
Accruing | C&I | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 8,368 | 10,264 | |||
Accruing | C&I | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 15,078 | 19,452 | |||
Accruing | Income CRE | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,010,460 | 4,077,106 | |||
Total Accruing | 4,011,896 | 4,078,346 | |||
Accruing | Income CRE | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,436 | 1,240 | |||
Accruing | Income CRE | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | Residential CRE | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 95,887 | 98,844 | |||
Total Accruing | 95,887 | 98,844 | |||
Accruing | Residential CRE | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | Residential CRE | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 25,926 | 31,173 | |||
Total Accruing | 27,130 | 36,112 | |||
Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 968 | 2,686 | |||
Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 236 | 2,253 | |||
Accruing | Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,132,273 | 4,207,123 | |||
Total Accruing | 4,134,913 | 4,213,302 | |||
Accruing | Commercial real estate | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 2,404 | 3,926 | |||
Accruing | Commercial real estate | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 236 | 2,253 | |||
Accruing | HELOC | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,557,368 | 1,743,776 | |||
Total Accruing | 1,578,339 | 1,771,222 | |||
Accruing | HELOC | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 13,302 | 17,744 | |||
Accruing | HELOC | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 7,669 | 9,702 | |||
Accruing | R/E Installment Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,511,603 | 4,475,669 | |||
Total Accruing | 4,528,555 | 4,486,516 | |||
Accruing | R/E Installment Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 10,938 | 7,274 | |||
Accruing | R/E Installment Loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 6,014 | 3,573 | |||
Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 31,886 | 35,356 | |||
Total Accruing | 36,315 | 38,530 | |||
Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,819 | 2,016 | |||
Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 610 | 1,158 | |||
Accruing | Consumer real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 6,100,857 | 6,254,801 | |||
Total Accruing | 6,143,209 | 6,296,268 | |||
Accruing | Consumer real estate | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 28,059 | 27,034 | |||
Accruing | Consumer real estate | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 14,293 | 14,433 | |||
Accruing | Permanent mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 323,736 | 365,527 | |||
Total Accruing | 330,546 | 372,917 | |||
Accruing | Permanent mortgage | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 2,391 | 3,930 | |||
Accruing | Permanent mortgage | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 4,419 | 3,460 | |||
Accruing | Credit card | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 189,849 | 193,940 | |||
Total Accruing | 192,001 | 196,364 | |||
Accruing | Credit card | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,097 | 1,371 | |||
Accruing | Credit card | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,055 | 1,053 | |||
Accruing | Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 347,702 | 415,070 | |||
Total Accruing | 353,696 | 417,839 | |||
Accruing | Other | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 5,534 | 2,666 | |||
Accruing | Other | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 460 | 103 | |||
Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,310 | 2,993 | |||
Total Accruing | 3,055 | 5,500 | |||
Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,366 | 1,693 | |||
Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 379 | 814 | |||
Accruing | Credit card & other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 538,861 | 612,003 | |||
Total Accruing | 548,752 | 619,703 | |||
Accruing | Credit card & other | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 7,997 | 5,730 | |||
Accruing | Credit card & other | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,894 | 1,970 | |||
Non-Accruing | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 84,233 | 70,040 | |||
Total Non- Accruing | 124,792 | 130,619 | |||
Non-Accruing | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 6,794 | 13,654 | |||
Non-Accruing | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 33,765 | 46,925 | |||
Non-Accruing | General C&I | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 9,358 | 1,761 | |||
Total Non- Accruing | 16,235 | 28,086 | |||
Non-Accruing | General C&I | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 510 | 7,019 | |||
Non-Accruing | General C&I | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 6,367 | 19,306 | |||
Non-Accruing | Loans to Mortgage Companies | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 0 | 0 | |||
Non-Accruing | Loans to Mortgage Companies | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Loans to Mortgage Companies | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | TRUPS | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 2,982 | 3,067 | |||
Non-Accruing | TRUPS | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | TRUPS | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 2,982 | 3,067 | |||
Non-Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | C&I | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 9,358 | 1,761 | |||
Total Non- Accruing | 19,217 | 31,153 | |||
Non-Accruing | C&I | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 510 | 7,019 | |||
Non-Accruing | C&I | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 9,349 | 22,373 | |||
Non-Accruing | Income CRE | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 43 | 56 | |||
Total Non- Accruing | 1,050 | 602 | |||
Non-Accruing | Income CRE | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 96 | 0 | |||
Non-Accruing | Income CRE | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 911 | 546 | |||
Non-Accruing | Residential CRE | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 393 | 791 | |||
Non-Accruing | Residential CRE | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Residential CRE | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 393 | 791 | |||
Non-Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 43 | 56 | |||
Total Non- Accruing | 1,443 | 1,393 | |||
Non-Accruing | Commercial real estate | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 96 | 0 | |||
Non-Accruing | Commercial real estate | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,304 | 1,337 | |||
Non-Accruing | HELOC | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 46,823 | 40,508 | |||
Total Non- Accruing | 59,832 | 52,488 | |||
Non-Accruing | HELOC | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 4,157 | 3,626 | |||
Non-Accruing | HELOC | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 8,852 | 8,354 | |||
Non-Accruing | R/E Installment Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 14,766 | 14,439 | |||
Total Non- Accruing | 19,570 | 18,999 | |||
Non-Accruing | R/E Installment Loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,721 | 1,957 | |||
Non-Accruing | R/E Installment Loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,083 | 2,603 | |||
Non-Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Consumer real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 61,589 | 54,947 | |||
Total Non- Accruing | 79,402 | 71,487 | |||
Non-Accruing | Consumer real estate | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 5,878 | 5,583 | |||
Non-Accruing | Consumer real estate | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 11,935 | 10,957 | |||
Non-Accruing | Permanent mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 13,143 | 13,245 | |||
Total Non- Accruing | 24,370 | 26,390 | |||
Non-Accruing | Permanent mortgage | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 259 | 1,052 | |||
Non-Accruing | Permanent mortgage | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 10,968 | 12,093 | |||
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 | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 100 | 31 | |||
Total Non- Accruing | 360 | 196 | |||
Non-Accruing | Other | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 51 | 0 | |||
Non-Accruing | Other | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 209 | 165 | |||
Non-Accruing | Purchased credit-impaired loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 0 | 0 | |||
Total Non- Accruing | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Purchased credit-impaired loans | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 0 | 0 | |||
Non-Accruing | Credit card & other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 100 | 31 | |||
Total Non- Accruing | 360 | 196 | |||
Non-Accruing | Credit card & other | 30-89 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 51 | 0 | |||
Non-Accruing | Credit card & other | 90 Days Past Due | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | $ 209 | $ 165 | |||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. |
Loans (Schedule Of Troubled Deb
Loans (Schedule Of Troubled Debt Restructurings Occurring During The Year) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | |
General C&I | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 3 | 1 | 8 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 544 | $ 815 | $ 2,048 | $ 842 |
Post-Modification Outstanding Recorded Investment | $ 537 | $ 799 | $ 1,751 | $ 836 |
C&I | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 3 | 1 | 8 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 544 | $ 815 | $ 2,048 | $ 842 |
Post-Modification Outstanding Recorded Investment | $ 537 | $ 799 | $ 1,751 | $ 836 |
Income CRE | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 3 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 201 | $ 201 | ||
Post-Modification Outstanding Recorded Investment | $ 195 | $ 195 | ||
Commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 3 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 201 | $ 201 | ||
Post-Modification Outstanding Recorded Investment | $ 195 | $ 195 | ||
HELOC | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 34 | 27 | 64 | 62 |
Pre-Modification Outstanding Recorded Investment | $ 3,824 | $ 2,293 | $ 6,584 | $ 4,882 |
Post-Modification Outstanding Recorded Investment | $ 3,806 | $ 2,270 | $ 6,539 | $ 4,743 |
R/E installment loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 10 | 14 | 15 | 28 |
Pre-Modification Outstanding Recorded Investment | $ 772 | $ 799 | $ 1,383 | $ 1,756 |
Post-Modification Outstanding Recorded Investment | $ 770 | $ 782 | $ 1,382 | $ 1,684 |
Consumer real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 44 | 41 | 79 | 90 |
Pre-Modification Outstanding Recorded Investment | $ 4,596 | $ 3,092 | $ 7,967 | $ 6,638 |
Post-Modification Outstanding Recorded Investment | $ 4,576 | $ 3,052 | $ 7,921 | $ 6,427 |
Permanent mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 4 | 4 | 5 | 9 |
Pre-Modification Outstanding Recorded Investment | $ 434 | $ 699 | $ 709 | $ 2,009 |
Post-Modification Outstanding Recorded Investment | $ 440 | $ 693 | $ 713 | $ 1,996 |
Credit card & other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 27 | 23 | 68 | 29 |
Pre-Modification Outstanding Recorded Investment | $ 95 | $ 144 | $ 305 | $ 165 |
Post-Modification Outstanding Recorded Investment | $ 94 | $ 140 | $ 291 | $ 160 |
Total troubled debt restructurings | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 81 | 69 | 163 | 130 |
Pre-Modification Outstanding Recorded Investment | $ 5,870 | $ 4,750 | $ 11,230 | $ 9,654 |
Post-Modification Outstanding Recorded Investment | $ 5,842 | $ 4,684 | $ 10,871 | $ 9,419 |
Loans (Schedule Of Troubled D62
Loans (Schedule Of Troubled Debt Restructurings Within The Previous 12 Months) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | |
General C&I | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 1 | 2 | 1 | 3 |
Recorded Investment | $ | $ 258 | $ 2,228 | $ 258 | $ 8,007 |
C&I | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 1 | 2 | 1 | 3 |
Recorded Investment | $ | $ 258 | $ 2,228 | $ 258 | $ 8,007 |
HELOC | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 2 | 0 | 4 | 4 |
Recorded Investment | $ | $ 95 | $ 0 | $ 164 | $ 685 |
R/E installment loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 1 | 1 | ||
Recorded Investment | $ | $ 25 | $ 25 | ||
Consumer real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 3 | 0 | 5 | 4 |
Recorded Investment | $ | $ 120 | $ 0 | $ 189 | $ 685 |
Permanent mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 1 | 1 | 2 | 1 |
Recorded Investment | $ | $ 293 | $ 538 | $ 405 | $ 538 |
Credit card & other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 12 | 1 | 26 | 3 |
Recorded Investment | $ | $ 75 | $ 11 | $ 156 | $ 18 |
Total troubled debt restructurings | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number | loan | 17 | 4 | 34 | 11 |
Recorded Investment | $ | $ 746 | $ 2,777 | $ 1,008 | $ 9,248 |
Allowance for Loan Losses (Deta
Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning Balance | $ 187,194 | $ 201,968 | $ 189,555 | $ 202,068 | ||||
Charge-offs | (10,008) | (9,830) | (18,491) | (18,243) | ||||
Recoveries | 8,276 | 7,119 | 15,398 | 16,432 | ||||
Provision/(provision credit) for loan losses | 0 | (2,000) | (1,000) | (3,000) | ||||
Ending Balance | 185,462 | 197,257 | 185,462 | 197,257 | ||||
Allowance - individually evaluated for impairment | 32,704 | 42,985 | 32,704 | 42,985 | ||||
Allowance - collectively evaluated for impairment | 149,751 | 153,742 | 149,751 | 153,742 | ||||
Allowance - purchased credit-impaired loans | 3,007 | 530 | 3,007 | 530 | $ 3,200 | |||
Individually evaluated for impairment | 234,651 | 265,330 | 234,651 | 265,330 | ||||
Collectively evaluated for impairment | 27,344,254 | 19,697,240 | 27,344,254 | 19,697,240 | ||||
Purchased credit-impaired loans | 122,835 | 26,749 | 122,835 | 26,749 | ||||
Total loans, net of unearned income | 27,701,740 | [1] | 19,989,319 | 27,701,740 | [1] | 19,989,319 | 27,658,929 | [1] |
C&I | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning Balance | 100,238 | 93,107 | 98,211 | 89,398 | ||||
Charge-offs | (3,287) | (1,865) | (5,362) | (2,465) | ||||
Recoveries | 1,036 | 600 | 2,555 | 2,276 | ||||
Provision/(provision credit) for loan losses | (1,153) | 537 | 1,430 | 3,170 | ||||
Ending Balance | 96,834 | 92,379 | 96,834 | 92,379 | ||||
Allowance - individually evaluated for impairment | 1,213 | 3,641 | 1,213 | 3,641 | ||||
Allowance - collectively evaluated for impairment | 93,429 | 88,609 | 93,429 | 88,609 | ||||
Allowance - purchased credit-impaired loans | 2,192 | 129 | 2,192 | 129 | ||||
Individually evaluated for impairment | 32,599 | 38,034 | 32,599 | 38,034 | ||||
Collectively evaluated for impairment | 16,349,811 | 12,538,913 | 16,349,811 | 12,538,913 | ||||
Purchased credit-impaired loans | 56,335 | 21,272 | 56,335 | 21,272 | ||||
Total loans, net of unearned income | 16,438,745 | 12,598,219 | 16,438,745 | 12,598,219 | 16,057,273 | |||
Commercial Real Estate | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning Balance | 29,057 | 30,888 | 28,427 | 33,852 | ||||
Charge-offs | (228) | (20) | (272) | (20) | ||||
Recoveries | 75 | 140 | 81 | 361 | ||||
Provision/(provision credit) for loan losses | 4,928 | (538) | 5,596 | (3,723) | ||||
Ending Balance | 33,832 | 30,470 | 33,832 | 30,470 | ||||
Allowance - individually evaluated for impairment | 0 | 176 | 0 | 176 | ||||
Allowance - collectively evaluated for impairment | 33,744 | 30,277 | 33,744 | 30,277 | ||||
Allowance - purchased credit-impaired loans | 88 | 17 | 88 | 17 | ||||
Individually evaluated for impairment | 2,252 | 3,024 | 2,252 | 3,024 | ||||
Collectively evaluated for impairment | 4,106,974 | 2,204,947 | 4,106,974 | 2,204,947 | ||||
Purchased credit-impaired loans | 27,130 | 4,025 | 27,130 | 4,025 | ||||
Total loans, net of unearned income | 4,136,356 | 2,211,996 | 4,136,356 | 2,211,996 | 4,214,695 | |||
Consumer Real Estate | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning Balance | 32,750 | 49,680 | 37,371 | 50,357 | ||||
Charge-offs | (1,481) | (3,951) | (3,392) | (7,800) | ||||
Recoveries | 5,444 | 5,143 | 9,827 | 10,819 | ||||
Provision/(provision credit) for loan losses | (4,944) | (4,803) | (12,037) | (7,307) | ||||
Ending Balance | 31,769 | 46,069 | 31,769 | 46,069 | ||||
Allowance - individually evaluated for impairment | 20,399 | 27,149 | 20,399 | 27,149 | ||||
Allowance - collectively evaluated for impairment | 10,730 | 18,536 | 10,730 | 18,536 | ||||
Allowance - purchased credit-impaired loans | 640 | 384 | 640 | 384 | ||||
Individually evaluated for impairment | 122,335 | 137,999 | 122,335 | 137,999 | ||||
Collectively evaluated for impairment | 6,063,961 | 4,278,063 | 6,063,961 | 4,278,063 | ||||
Purchased credit-impaired loans | 36,315 | 1,397 | 36,315 | 1,397 | ||||
Total loans, net of unearned income | 6,222,611 | 4,417,459 | 6,222,611 | 4,417,459 | 6,367,755 | |||
Permanent Mortgage | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning Balance | 15,435 | 15,893 | 15,565 | 16,289 | ||||
Charge-offs | (300) | (843) | (460) | (1,326) | ||||
Recoveries | 631 | 488 | 696 | 1,391 | ||||
Provision/(provision credit) for loan losses | (1,688) | 860 | (1,723) | 44 | ||||
Ending Balance | 14,078 | 16,398 | 14,078 | 16,398 | ||||
Allowance - individually evaluated for impairment | 10,787 | 11,858 | 10,787 | 11,858 | ||||
Allowance - collectively evaluated for impairment | 3,291 | 4,540 | 3,291 | 4,540 | ||||
Allowance - purchased credit-impaired loans | 0 | 0 | 0 | 0 | ||||
Individually evaluated for impairment | 76,861 | 85,913 | 76,861 | 85,913 | ||||
Collectively evaluated for impairment | 278,055 | 322,182 | 278,055 | 322,182 | ||||
Purchased credit-impaired loans | 0 | 0 | 0 | 0 | ||||
Total loans, net of unearned income | 354,916 | 408,095 | 354,916 | 408,095 | 399,307 | |||
Credit Card and Other | ||||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||||
Beginning Balance | 9,714 | 12,400 | 9,981 | 12,172 | ||||
Charge-offs | (4,712) | (3,151) | (9,005) | (6,632) | ||||
Recoveries | 1,090 | 748 | 2,239 | 1,585 | ||||
Provision/(provision credit) for loan losses | 2,857 | 1,944 | 5,734 | 4,816 | ||||
Ending Balance | 8,949 | 11,941 | 8,949 | 11,941 | ||||
Allowance - individually evaluated for impairment | 305 | 161 | 305 | 161 | ||||
Allowance - collectively evaluated for impairment | 8,557 | 11,780 | 8,557 | 11,780 | ||||
Allowance - purchased credit-impaired loans | 87 | 0 | 87 | 0 | ||||
Individually evaluated for impairment | 604 | 360 | 604 | 360 | ||||
Collectively evaluated for impairment | 545,453 | 353,135 | 545,453 | 353,135 | ||||
Purchased credit-impaired loans | 3,055 | 55 | 3,055 | 55 | ||||
Total loans, net of unearned income | $ 549,112 | $ 353,550 | $ 549,112 | $ 353,550 | $ 619,899 | |||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. |
Intangible Assets (Summary Of I
Intangible Assets (Summary Of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition) (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018USD ($)branch | Dec. 31, 2017USD ($) | |
Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 240,637 | $ 244,137 |
Accumulated Amortization | (72,682) | (59,748) |
Net Carrying Value | $ 167,955 | 184,389 |
Number of branches divested | branch | 2 | |
State banking licenses | ||
Intangible Assets [Line Items] | ||
Net Carrying Value | $ 300 | |
Core deposit intangibles | ||
Intangible Assets [Line Items] | ||
Gross Carrying Amount | 157,150 | 160,650 |
Accumulated Amortization | (18,146) | (8,176) |
Net Carrying Value | 139,004 | 152,474 |
Customer relationships | ||
Intangible Assets [Line Items] | ||
Gross Carrying Amount | 77,865 | 77,865 |
Accumulated Amortization | (53,211) | (50,777) |
Net Carrying Value | 24,654 | 27,088 |
Other | ||
Intangible Assets [Line Items] | ||
Gross Carrying Amount | 5,622 | 5,622 |
Accumulated Amortization | (1,325) | (795) |
Net Carrying Value | $ 4,297 | $ 4,827 |
Intangible Assets (Narrative) (
Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Amortization expense | $ 6,500 | $ 2,000 | $ 12,900 | $ 3,200 | ||
Goodwill [Line Items] | ||||||
Goodwill | 1,409,276 | $ 236,335 | 1,409,276 | $ 236,335 | $ 1,386,853 | $ 191,371 |
Non-Strategic | ||||||
Goodwill [Line Items] | ||||||
Gross goodwill | 200,000 | 200,000 | 200,000 | |||
Accumulated impairments | 114,100 | 114,100 | 114,100 | |||
Accumulated divestiture related write-offs | 85,900 | 85,900 | 85,900 | |||
Goodwill | $ 0 | $ 0 | $ 0 |
Intangible Assets (Schedule Of
Intangible Assets (Schedule Of Estimated Aggregate Amortization Expense for Intangible Assets) (Details) $ in Thousands | Jun. 30, 2018USD ($) |
Year | |
Remainder of 2018 | $ 12,931 |
2,019 | 24,834 |
2,020 | 21,159 |
2,021 | 19,547 |
2,022 | 17,412 |
2,023 | $ 16,117 |
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | $ 1,386,853 | $ 191,371 |
Additions | 22,423 | 44,964 |
Goodwill, ending balance | 1,409,276 | 236,335 |
Regional Banking | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | 1,243,885 | 93,367 |
Additions | 22,423 | 0 |
Goodwill, ending balance | 1,266,308 | 93,367 |
Fixed Income | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | 142,968 | 98,004 |
Additions | 0 | 44,964 |
Goodwill, ending balance | $ 142,968 | $ 142,968 |
Other Income And Other Expens68
Other Income And Other Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
All other income and commissions: | ||||
Other service charges | $ 3,728 | $ 3,109 | $ 8,076 | $ 6,093 |
ATM and interchange fees | 3,413 | 3,083 | 6,680 | 5,861 |
Dividend income | 3,124 | 0 | 5,373 | 0 |
Mortgage banking | 2,431 | 1,268 | 4,977 | 2,529 |
Letter of credit fees | 1,295 | 1,122 | 2,544 | 2,158 |
Electronic banking fees | 1,228 | 1,306 | 2,432 | 2,629 |
Deferred compensation | 991 | 1,491 | 1,442 | 3,318 |
Insurance commissions | 476 | 592 | 1,233 | 1,475 |
Other | 2,748 | 2,646 | 9,920 | 4,945 |
Total | 19,434 | 14,617 | 42,677 | 29,008 |
All other expense: | ||||
Travel and entertainment | 5,131 | 3,162 | 8,114 | 5,510 |
Other insurance and taxes | 2,752 | 2,443 | 5,417 | 4,833 |
Supplies | 1,987 | 1,093 | 3,823 | 1,956 |
Employee training and dues | 1,849 | 1,453 | 3,628 | 2,996 |
Non-service components of net periodic pension and post-retirement cost | 1,530 | 851 | 2,034 | 1,328 |
Customer relations | 1,358 | 1,543 | 2,421 | 2,879 |
Tax credit investments | 1,079 | 942 | 2,216 | 1,884 |
Miscellaneous loan costs | 1,035 | 699 | 2,177 | 1,321 |
OREO | 810 | 446 | 918 | 650 |
Litigation and regulatory matters | 16 | 533 | 2,150 | 241 |
Other | 33,452 | 12,051 | 53,433 | 20,843 |
Total | $ 50,999 | $ 25,216 | $ 86,331 | $ 44,441 |
Components of Other Comprehen69
Components of Other Comprehensive Income/(Loss) (Schedule of Changes in AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Balance, January 1 | $ 4,580,488 | $ 2,705,084 | ||||||
Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 | $ 67 | $ 0 | ||||||
Beginning balance, as adjusted | 4,580,555 | $ 2,705,084 | ||||||
Net unrealized gains/(losses) | $ (24,551) | $ 12,247 | (92,693) | 9,649 | ||||
Amounts reclassified from AOCI | 2,522 | 249 | 3,615 | 543 | ||||
Other comprehensive income/(loss) | (22,029) | 12,496 | (89,078) | [1] | 10,192 | [1] | ||
Balance, June 30 | 4,549,749 | 2,826,888 | 4,549,749 | 2,826,888 | ||||
Securities AFS | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Balance, January 1 | (86,382) | (18,795) | (26,834) | (17,232) | ||||
Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 | (5) | |||||||
Beginning balance, as adjusted | (26,839) | |||||||
Net unrealized gains/(losses) | (21,094) | 9,188 | (80,598) | 7,652 | ||||
Amounts reclassified from AOCI | 0 | (250) | (39) | (277) | ||||
Other comprehensive income/(loss) | (21,094) | 8,938 | (80,637) | 7,375 | ||||
Balance, June 30 | (107,476) | (9,857) | (107,476) | (9,857) | ||||
Cash Flow Hedges | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Balance, January 1 | (16,763) | (3,179) | (7,764) | (1,265) | ||||
Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 | (206) | |||||||
Beginning balance, as adjusted | (7,970) | |||||||
Net unrealized gains/(losses) | (3,457) | 3,059 | (12,095) | 1,997 | ||||
Amounts reclassified from AOCI | 463 | (904) | 308 | (1,756) | ||||
Other comprehensive income/(loss) | (2,994) | 2,155 | (11,787) | 241 | ||||
Balance, June 30 | (19,757) | (1,024) | (19,757) | (1,024) | ||||
Pension and Post-retirement Plans | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Balance, January 1 | (286,940) | (227,984) | (288,227) | (229,157) | ||||
Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 | 0 | |||||||
Beginning balance, as adjusted | (288,227) | |||||||
Net unrealized gains/(losses) | 0 | 0 | 0 | 0 | ||||
Amounts reclassified from AOCI | 2,059 | 1,403 | 3,346 | 2,576 | ||||
Other comprehensive income/(loss) | 2,059 | 1,403 | 3,346 | 2,576 | ||||
Balance, June 30 | (284,881) | (226,581) | (284,881) | (226,581) | ||||
Total | ||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Balance, January 1 | (390,085) | (249,958) | (322,825) | (247,654) | ||||
Adjustment to reflect adoption of ASU 2016-01 and ASU 2017-12 | (211) | |||||||
Beginning balance, as adjusted | $ (323,036) | |||||||
Balance, June 30 | $ (412,114) | $ (237,462) | $ (412,114) | $ (237,462) | ||||
[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 Comprehen70
Components of Other Comprehensive Income/(Loss) (Schedule of Reclassification from AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Debt securities gains/(losses), net | $ 0 | $ 405 | $ 52 | $ 449 |
Interest and fees on loans | 323,974 | 192,580 | 623,467 | 373,044 |
All other expense | 50,999 | 25,216 | 86,331 | 44,441 |
Provision/(benefit) for income taxes | 19,697 | 17,253 | 49,628 | 44,307 |
Total reclassification from AOCI | 2,522 | 249 | 3,615 | 543 |
Securities AFS | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Total reclassification from AOCI | 0 | (250) | (39) | (277) |
Cash flow hedges | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Total reclassification from AOCI | 463 | (904) | 308 | (1,756) |
Pension and Postretirement Plans | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Total reclassification from AOCI | 2,059 | 1,403 | 3,346 | 2,576 |
Reclassifications from AOCI | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Total reclassification from AOCI | 2,522 | 249 | 3,615 | 543 |
Reclassifications from AOCI | Securities AFS | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Debt securities gains/(losses), net | 0 | (405) | (52) | (449) |
Provision/(benefit) for income taxes | 0 | 155 | 13 | 172 |
Total reclassification from AOCI | 0 | (250) | (39) | (277) |
Reclassifications from AOCI | Cash flow hedges | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Interest and fees on loans | 615 | (1,465) | 409 | (2,845) |
Provision/(benefit) for income taxes | (152) | 561 | (101) | 1,089 |
Total reclassification from AOCI | 463 | (904) | 308 | (1,756) |
Reclassifications from AOCI | Pension and Postretirement Plans | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
All other expense | 2,735 | 2,273 | 4,444 | 4,173 |
Provision/(benefit) for income taxes | (676) | (870) | (1,098) | (1,597) |
Total reclassification from AOCI | $ 2,059 | $ 1,403 | $ 3,346 | $ 2,576 |
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Net income/(loss) | $ 85,992 | $ 95,204 | $ 180,986 | $ 153,592 |
Net income attributable to noncontrolling interest | 2,852 | 2,852 | 5,672 | 5,672 |
Net income/(loss) attributable to controlling interest | 83,140 | 92,352 | 175,314 | 147,920 |
Preferred stock dividends | 1,550 | 1,550 | 3,100 | 3,100 |
Net income/(loss) available to common shareholders | $ 81,590 | $ 90,802 | $ 172,214 | $ 144,820 |
Weighted average common shares outstanding - basic (in shares) | 325,153 | 233,482 | 325,817 | 233,280 |
Effect of dilutive securities (in shares) | 3,273 | 2,781 | 3,536 | 2,945 |
Weighted average common shares outstanding - diluted (in shares) | 328,426 | 236,263 | 329,353 | 236,225 |
Net income/(loss) per share available to common shareholders (in dollars per share) | $ 0.25 | $ 0.39 | $ 0.53 | $ 0.62 |
Diluted income/(loss) per share available to common shareholders (in dollars per share) | $ 0.25 | $ 0.38 | $ 0.52 | $ 0.61 |
Earnings Per Share (Schedule 72
Earnings Per Share (Schedule Of Anti-Dilutive Options and Awards) (Details) - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Weighted average exercise price of stock options excluded from the calculation of diluted EPS (in dollars per share) | $ 24.38 | $ 25.24 | $ 24.60 | $ 25.85 |
Employee stock option | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Awards excluded from the calculation of diluted EPS (in shares) | 2,446 | 2,721 | 2,428 | 2,512 |
Other equity awards | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Awards excluded from the calculation of diluted EPS (in shares) | 565 | 482 | 404 | 247 |
Contingencies And Other Discl73
Contingencies And Other Disclosures (Narrative) (Details) shares in Millions | 6 Months Ended | 36 Months Ended | 48 Months Ended | ||
Jun. 30, 2018USD ($)entityshares | Dec. 31, 2007USD ($) | Dec. 31, 2008USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2008shares | |
Loss Contingencies [Line Items] | |||||
Estimated litigation liability | $ 41,300,000 | ||||
Number of GSEs to which conventional conforming single-family mortgage loans were predominately sold to | entity | 2 | ||||
Loan-to-value ratio at origination | 80.00% | ||||
Subservicing agreement, period | 3 years | ||||
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 | ||||
Accrued losses on loan repurchase exposure | $ 32,900,000 | $ 34,200,000 | |||
Subservicer expenditure reimbursement amount disputed | |||||
Loss Contingencies [Line Items] | |||||
Actual damages sought by plaintiff | $ 43,500,000 | ||||
Visa Class B Shares | |||||
Loss Contingencies [Line Items] | |||||
Number of Visa Class B shares (in shares) | shares | 1 | 2.4 | |||
Derivative liability | $ 9,400,000 | $ 5,600,000 | |||
Historical cost | $ 0 | ||||
Estimated conversion ratio | 163.00% | ||||
Contingent liability | $ 800,000 | ||||
Value of holdings of Visa Class B Shares if converted into Class A shares at the current conversion ratio | 226,000,000 | ||||
Mortgage Securitization Litigation | |||||
Loss Contingencies [Line Items] | |||||
Investment in proprietary securitizations subject to lawsuits | 83,400,000 | ||||
Investment in proprietary securitizations subject to indemnifications | 231,200,000 | ||||
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 | $ 21,000,000 |
Pension, Savings, And Other E74
Pension, Savings, And Other Employee Benefits (Narrative) (Details) $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Dec. 31, 2017USD ($) | Jun. 30, 2018USD ($)pension_plan | Dec. 31, 2017USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |||
Employer investment in qualified defined contribution plan | 100.00% | ||
Maximum percent of employee pre-tax contributions that may be matched by the Company (percent) | 6.00% | ||
Pension plan | Qualified plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Estimated social security benefits age | 65 years | ||
Contributions | $ 5.1 | ||
Defined benefit plan, benefit obligation | 18.7 | $ 18.7 | |
Defined benefit plan, fair value of plan assets | $ 18.6 | 18.6 | |
Pension plan | Non-Qualified Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Contributions | $ 5.4 | ||
Expected pension contribution | $ 5.7 | ||
Pension plan | Capital Bank Financial Corp | Qualified plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Number of additional qualified pension plans | pension_plan | 2 |
Pension, Savings, And Other E75
Pension, Savings, And Other Employee Benefits (Schedule Of Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Pension Benefits | ||||
Components of net periodic benefit cost | ||||
Service cost | $ 10 | $ 10 | $ 20 | $ 19 |
Interest cost | 6,987 | 7,380 | 13,973 | 14,759 |
Expected return on plan assets | (8,226) | (8,890) | (16,451) | (17,781) |
Amortization of unrecognized: | ||||
Prior service cost/(credit) | 0 | 13 | 0 | 26 |
Actuarial (gain)/loss | 2,956 | 2,380 | 5,912 | 4,760 |
Net periodic benefit cost/(credit) | 1,727 | 893 | 3,454 | 1,783 |
Other Benefits | ||||
Components of net periodic benefit cost | ||||
Service cost | 34 | 27 | 67 | 54 |
Interest cost | 327 | 325 | 654 | 651 |
Expected return on plan assets | (269) | (237) | (538) | (474) |
Amortization of unrecognized: | ||||
Prior service cost/(credit) | 0 | 24 | 0 | 48 |
Actuarial (gain)/loss | (91) | (143) | (182) | (285) |
Net periodic benefit cost/(credit) | $ 1 | $ (4) | $ 1 | $ (6) |
Business Segment Information (A
Business Segment Information (Amounts Of Consolidated Revenue, Expense, Tax And Assets) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)segment | Jun. 30, 2017USD ($) | |
Segment Reporting [Abstract] | ||||
Number of business segments | segment | 4 | |||
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 310,932 | $ 200,701 | $ 612,105 | $ 390,409 |
Provision/(provision credit) for loan losses | 0 | (2,000) | (1,000) | (3,000) |
Noninterest income | 127,525 | 127,673 | 263,542 | 244,612 |
Noninterest expense | 332,768 | 217,917 | 646,033 | 440,122 |
Income/(loss) before income taxes | 105,689 | 112,457 | 230,614 | 197,899 |
Provision/(benefit) for income taxes | 19,697 | 17,253 | 49,628 | 44,307 |
Net income/(loss) | 85,992 | 95,204 | 180,986 | 153,592 |
Average assets | 40,173,712 | 28,876,350 | 40,261,729 | 28,841,422 |
Regional Banking | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 308,870 | 201,658 | 607,569 | 394,740 |
Provision/(provision credit) for loan losses | 6,139 | 260 | 11,451 | 3,358 |
Noninterest income | 78,568 | 64,740 | 157,421 | 123,718 |
Noninterest expense | 212,445 | 152,637 | 417,646 | 300,687 |
Income/(loss) before income taxes | 168,854 | 113,501 | 335,893 | 214,413 |
Provision/(benefit) for income taxes | 39,634 | 41,015 | 78,996 | 77,491 |
Net income/(loss) | 129,220 | 72,486 | 256,897 | 136,922 |
Average assets | 28,746,968 | 18,432,141 | 28,611,686 | 18,195,201 |
Fixed Income | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 9,174 | 4,985 | 17,637 | 6,141 |
Noninterest income | 38,363 | 55,207 | 83,968 | 106,030 |
Noninterest expense | 48,300 | 54,022 | 98,844 | 102,729 |
Income/(loss) before income taxes | (763) | 6,170 | 2,761 | 9,442 |
Provision/(benefit) for income taxes | (414) | 1,941 | 328 | 2,959 |
Net income/(loss) | (349) | 4,229 | 2,433 | 6,483 |
Average assets | 3,251,876 | 2,696,144 | 3,365,912 | 2,288,083 |
Corporate Segment | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | (14,002) | (14,637) | (27,192) | (28,408) |
Noninterest income | 8,848 | 6,219 | 18,327 | 11,695 |
Noninterest expense | 66,020 | 24,566 | 117,136 | 41,440 |
Income/(loss) before income taxes | (71,174) | (32,984) | (126,001) | (58,153) |
Provision/(benefit) for income taxes | (21,691) | (35,574) | (34,135) | (48,503) |
Net income/(loss) | (49,483) | 2,590 | (91,866) | (9,650) |
Average assets | 6,956,898 | 6,226,499 | 7,033,090 | 6,789,515 |
Non-Strategic | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 6,890 | 8,695 | 14,091 | 17,936 |
Provision/(provision credit) for loan losses | (6,139) | (2,260) | (12,451) | (6,358) |
Noninterest income | 1,746 | 1,507 | 3,826 | 3,169 |
Noninterest expense | 6,003 | (13,308) | 12,407 | (4,734) |
Income/(loss) before income taxes | 8,772 | 25,770 | 17,961 | 32,197 |
Provision/(benefit) for income taxes | 2,168 | 9,871 | 4,439 | 12,360 |
Net income/(loss) | 6,604 | 15,899 | 13,522 | 19,837 |
Average assets | $ 1,217,970 | $ 1,521,566 | $ 1,251,041 | $ 1,568,623 |
Business Segment Information (D
Business Segment Information (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Fixed income | $ 37,697 | $ 55,110 | $ 83,203 | $ 105,788 |
Deposit transactions and cash management | 36,083 | 27,858 | 72,067 | 52,423 |
Brokerage, management fees and commissions | 13,740 | 12,029 | 27,223 | 23,935 |
Trust services and investment management | 8,132 | 7,698 | 15,409 | 14,351 |
Bankcard income | 6,635 | 5,605 | 13,080 | 11,060 |
Bank-owned life insurance | 5,773 | 4,351 | 9,766 | 7,598 |
Debt securities gains/(losses), net | 0 | 405 | 52 | 449 |
Equity securities gains/(losses), net | 31 | 0 | 65 | 0 |
All other income and commissions | 19,434 | 14,617 | 42,677 | 29,008 |
Total noninterest income | 127,525 | 127,673 | 263,542 | 244,612 |
Gain on sale of a building | 3,300 | |||
Underwriting, Portfolio Advisory, and Other Noninterest Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from contract with customer | 7,300 | 15,600 | ||
Regional Banking | ||||
Disaggregation of Revenue [Line Items] | ||||
Fixed income | 130 | 139 | 211 | 213 |
Deposit transactions and cash management | 34,522 | 26,433 | 69,262 | 49,667 |
Brokerage, management fees and commissions | 13,740 | 12,029 | 27,223 | 23,935 |
Trust services and investment management | 8,146 | 7,712 | 15,438 | 14,392 |
Bankcard income | 6,658 | 5,495 | 12,951 | 10,837 |
Bank-owned life insurance | 0 | 0 | 0 | 0 |
Debt securities gains/(losses), net | 0 | 386 | 0 | 386 |
Equity securities gains/(losses), net | 0 | 0 | 0 | 0 |
All other income and commissions | 15,372 | 12,546 | 32,336 | 24,288 |
Total noninterest income | 78,568 | 64,740 | 157,421 | 123,718 |
Fixed Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Fixed income | 37,567 | 54,971 | 82,992 | 105,575 |
Deposit transactions and cash management | 3 | 0 | 6 | 0 |
Brokerage, management fees and commissions | 0 | 0 | 0 | 0 |
Trust services and investment management | 0 | 0 | 0 | 0 |
Bankcard income | 0 | 0 | 0 | 0 |
Bank-owned life insurance | 0 | 0 | 0 | 0 |
Debt securities gains/(losses), net | 0 | 0 | 0 | 0 |
Equity securities gains/(losses), net | 0 | 0 | 0 | 0 |
All other income and commissions | 793 | 236 | 970 | 455 |
Total noninterest income | 38,363 | 55,207 | 83,968 | 106,030 |
Corporate | ||||
Disaggregation of Revenue [Line Items] | ||||
Fixed income | 0 | 0 | 0 | 0 |
Deposit transactions and cash management | 1,497 | 1,376 | 2,691 | 2,665 |
Brokerage, management fees and commissions | 0 | 0 | 0 | 0 |
Trust services and investment management | (14) | (14) | (29) | (41) |
Bankcard income | 55 | 57 | 112 | 113 |
Bank-owned life insurance | 5,773 | 4,351 | 9,766 | 7,598 |
Debt securities gains/(losses), net | 0 | 19 | 52 | 63 |
Equity securities gains/(losses), net | 31 | 0 | 65 | 0 |
All other income and commissions | 1,506 | 430 | 5,670 | 1,297 |
Total noninterest income | 8,848 | 6,219 | 18,327 | 11,695 |
Non-Strategic | ||||
Disaggregation of Revenue [Line Items] | ||||
Fixed income | 0 | 0 | 0 | 0 |
Deposit transactions and cash management | 61 | 49 | 108 | 91 |
Brokerage, management fees and commissions | 0 | 0 | 0 | 0 |
Trust services and investment management | 0 | 0 | 0 | 0 |
Bankcard income | (78) | 53 | 17 | 110 |
Bank-owned life insurance | 0 | 0 | 0 | 0 |
Debt securities gains/(losses), net | 0 | 0 | 0 | 0 |
Equity securities gains/(losses), net | 0 | 0 | 0 | 0 |
All other income and commissions | 1,763 | 1,405 | 3,701 | 2,968 |
Total noninterest income | $ 1,746 | $ 1,507 | $ 3,826 | $ 3,169 |
Variable Interest Entities (Sum
Variable Interest Entities (Summary Of VIE Consolidated By FHN) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | ||
Assets: | ||||||||
Cash and due from banks | $ 602,952 | $ 639,073 | ||||||
Loans, net of unearned income | 27,701,740 | [1] | 27,658,929 | [1] | $ 19,989,319 | |||
Less: Allowance for loan losses | 185,462 | $ 187,194 | 189,555 | $ 197,257 | $ 201,968 | $ 202,068 | ||
Total net loans | 27,516,278 | 27,469,374 | ||||||
Other assets | 1,934,001 | 1,723,189 | ||||||
Total assets | 41,076,795 | 41,423,388 | ||||||
Liabilities: | ||||||||
Term borrowings | 1,227,281 | 1,218,097 | ||||||
Other liabilities | 526,430 | 549,234 | ||||||
Total liabilities | 36,527,046 | 36,842,900 | ||||||
On-Balance Sheet Consumer Loan Securitization | ||||||||
Assets: | ||||||||
Cash and due from banks | 0 | 0 | ||||||
Loans, net of unearned income | 18,921 | 24,175 | ||||||
Less: Allowance for loan losses | 0 | 0 | ||||||
Total net loans | 18,921 | 24,175 | ||||||
Other assets | 38 | 47 | ||||||
Total assets | 18,959 | 24,222 | ||||||
Liabilities: | ||||||||
Term borrowings | 6,004 | 11,226 | ||||||
Other liabilities | 1 | 2 | ||||||
Total liabilities | 6,005 | 11,228 | ||||||
Rabbi Trusts Used for Deferred Compensation Plans | ||||||||
Assets: | ||||||||
Other assets | 82,802 | 80,479 | ||||||
Total assets | 82,802 | 80,479 | ||||||
Liabilities: | ||||||||
Other liabilities | 61,925 | 61,733 | ||||||
Total liabilities | $ 61,925 | $ 61,733 | ||||||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. |
Variable Interest Entities (Nar
Variable Interest Entities (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Nov. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Expense from affordable housing projects, equity method investments | $ 900 | $ 500 | $ 1,900 | $ 1,100 | |
Capital Bank Financial Corp | |||||
Variable Interest Entity [Line Items] | |||||
Term borrowings | $ 187,169 | $ 187,169 | |||
Junior Subordinated Debt | Capital Bank Financial Corp | |||||
Variable Interest Entity [Line Items] | |||||
Term borrowings | $ 212,400 |
Variable Interest Entities (S80
Variable Interest Entities (Summary of the Impact of Qualifying LIHTC Investments) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Low income housing tax credits | ||||
Variable Interest Entity [Line Items] | ||||
Amortization of qualifying LIHTC investments | $ 2,191 | $ 2,362 | $ 4,547 | $ 4,640 |
Other tax benefits related to qualifying LIHTC investments | (2,560) | (2,598) | (5,097) | (4,998) |
Other tax benefits related to qualifying LIHTC investments | ||||
Variable Interest Entity [Line Items] | ||||
Other tax benefits related to qualifying LIHTC investments | $ (894) | $ (910) | $ (1,584) | $ (1,829) |
Variable Interest Entities (S81
Variable Interest Entities (Summary Of VIE Not Consolidated By FHN) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | ||
Variable Interest Entity [Line Items] | |||||
Loans, net of unearned income | $ 27,701,740 | [1] | $ 27,658,929 | [1] | $ 19,989,319 |
Trading securities | 1,649,470 | 1,416,345 | |||
Term borrowings | 1,227,281 | 1,218,097 | |||
Securities available-for-sale | 5,170,255 | ||||
Low income housing partnerships | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 96,289 | 94,798 | |||
Liability Recognized | 36,968 | 33,348 | |||
Maximum loss exposure, contractual funding commitments | 37,000 | 33,300 | |||
Low income housing partnerships | Other Assets | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure, current investments | 59,300 | 61,500 | |||
Other tax credit investments | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 19,023 | 20,394 | |||
Liability Recognized | 0 | 0 | |||
Other tax credit investments | Other Assets | |||||
Variable Interest Entity [Line Items] | |||||
Maximum loss exposure, current investments | 18,000 | 18,000 | |||
Small issuer trust preferred holdings | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 332,370 | 332,455 | |||
Liability Recognized | 0 | 0 | |||
On-balance sheet trust preferred securitization | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 48,479 | 48,817 | |||
Liability Recognized | 65,695 | 65,357 | |||
Loans, net of unearned income | 112,500 | 112,500 | |||
Trading securities | 1,700 | 1,700 | |||
Term borrowings | 65,700 | 65,400 | |||
Proprietary residential mortgage securitizations | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 1,724 | 2,151 | |||
Liability Recognized | 0 | 0 | |||
Holdings of agency mortgage-backed securities | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 5,092,123 | 5,349,287 | |||
Liability Recognized | 0 | 0 | |||
Trading securities | 500,000 | 500,000 | |||
Securities available-for-sale | 4,600,000 | 4,800,000 | |||
Commercial loan troubled debt restructurings | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 18,612 | 19,411 | |||
Liability Recognized | 0 | 0 | |||
Maximum loss exposure, contractual funding commitments | 800 | 300 | |||
Loans, net of unearned income | 17,800 | 19,100 | |||
Sale-leaseback transaction | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 14,827 | 14,827 | |||
Liability Recognized | 0 | 0 | |||
Proprietary trust preferred issuances | |||||
Variable Interest Entity [Line Items] | |||||
Maximum Loss Exposure | 0 | 0 | |||
Liability Recognized | $ 212,378 | $ 212,378 | |||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Total trading revenues | $ 29,900 | $ 45,600 | $ 68,000 | $ 88,300 | |||
Term borrowings | 1,227,281 | 1,227,281 | $ 1,218,097 | ||||
Cash flow hedge length of time | 5 years | ||||||
Hedged amount of foreign currency denominated loans | 6,400 | 6,400 | 1,500 | ||||
Visa Class B Shares | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Derivative liabilities related to sale | 9,400 | 9,400 | 5,600 | ||||
Cash Flow Hedges | Hedging Instruments | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Variability in cash flows related to debt instruments (primarily loans) | $ 250,000 | ||||||
Notional amount | $ 650,000 | ||||||
Cash Flow Hedges | Hedging Instruments | Minimum | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Initial duration | 3 years | ||||||
Cash Flow Hedges | Hedging Instruments | Maximum | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Initial duration | 7 years | ||||||
Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Long Haul Method | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Term borrowings | 500,000 | 500,000 | |||||
Net fair value of interest rate derivatives hedging | 0 | 0 | 200 | ||||
Derivative Instruments With Adjustable Collateral Posting Thresholds | Additional Derivative Agreements | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Net fair value of derivative assets with adjustable posting thresholds | 21,700 | 21,700 | 23,300 | ||||
Net fair value of derivative liabilities with adjustable posting thresholds | 52,400 | 52,400 | 34,500 | ||||
Collateral received | 108,700 | 108,700 | 119,300 | ||||
Securities posted collateral | 16,500 | 16,500 | 18,900 | ||||
Derivative Instruments With Accelerated Termination Provisions | Additional Derivative Agreements | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Net fair value of derivative assets with adjustable posting thresholds | 18,500 | 18,500 | 22,800 | ||||
Net fair value of derivative liabilities with adjustable posting thresholds | 47,000 | 47,000 | 19,400 | ||||
Collateral received | 105,500 | 105,500 | 118,600 | ||||
Securities posted collateral | 15,000 | 15,000 | 6,700 | ||||
FTBNA | Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Long Haul Method | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Term borrowings | 400,000 | 400,000 | |||||
Net fair value of interest rate derivatives hedging | 0 | 0 | 100 | ||||
Certain Counterparties | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||
Collateral cash receivables | 80,500 | 80,500 | 60,300 | ||||
Collateral cash payables | $ 98,800 | $ 98,800 | $ 49,700 |
Derivatives (Derivatives Associ
Derivatives (Derivatives Associated with Fixed Income Trading Activities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Customer interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | $ 2,204,706 | $ 2,026,753 |
Assets | 9,837 | 22,097 |
Liabilities | 48,272 | 18,323 |
Offsetting upstream interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 2,204,706 | 2,026,753 |
Assets | 46,619 | 17,931 |
Liabilities | 9,676 | 20,720 |
Option contracts purchased | Long | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 70,000 | 20,000 |
Assets | 58 | 15 |
Liabilities | 0 | 0 |
Forwards and futures purchased | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 5,466,761 | 6,257,140 |
Assets | 16,942 | 4,354 |
Liabilities | 1,902 | 5,526 |
Forwards and futures sold | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 5,556,237 | 6,292,012 |
Assets | 2,185 | 5,806 |
Liabilities | $ 16,836 | $ 4,010 |
Derivatives (Derivatives Asso84
Derivatives (Derivatives Associated With Interest Rate Risk Management Activities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Customer interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | $ 2,204,706 | $ 2,026,753 |
Assets | 9,837 | 22,097 |
Liabilities | 48,272 | 18,323 |
Offsetting upstream interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 2,204,706 | 2,026,753 |
Assets | 46,619 | 17,931 |
Liabilities | 9,676 | 20,720 |
Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Customer interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 1,843,573 | 1,608,912 |
Assets | 6,180 | 11,644 |
Liabilities | 42,760 | 19,780 |
Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Offsetting upstream interest rate contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 1,843,573 | 1,608,912 |
Assets | 40,026 | 18,473 |
Liabilities | 6,383 | 11,019 |
Debt Hedging | Hedging Instruments And Hedged Items | Interest rate swaps | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Notional | 900,000 | 900,000 |
Assets | 22 | 371 |
Liabilities | 4 | |
Debt Hedging | Hedging Instruments And Hedged Items | Term borrowings, Par | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Term borrowings | 900,000 | 900,000 |
Debt Hedging | Hedging Instruments And Hedged Items | Term borrowings, Cumulative fair value hedging adjustments | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Term borrowings | (21,542) | (13,472) |
Debt Hedging | Hedging Instruments And Hedged Items | Term borrowings, Unamortized premium/(discount) and issuance costs | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Term borrowings | (3,103) | (3,910) |
Debt Hedging | Hedging Instruments And Hedged Items | Total carrying value | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Term borrowings | $ 875,355 | $ 882,618 |
Derivatives (Gains_(Losses) on
Derivatives (Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities) (Details) - Hedging Instruments And Hedged Items - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Customer Interest Rate Contracts Hedging | Customer interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains/(Losses) related to interest rate derivatives | $ (4,459) | $ 4,099 | $ (29,183) | $ 823 |
Customer Interest Rate Contracts Hedging | Offsetting upstream interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains/(Losses) related to interest rate derivatives | 4,459 | (4,099) | 29,183 | (823) |
Debt Hedging | Interest rate swaps | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains/(Losses) related to interest rate derivatives | (1,545) | 1,808 | (8,140) | (992) |
Debt Hedging | Term borrowings | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains/(Losses) related to term borrowings | $ 1,520 | $ (1,804) | $ 8,070 | $ 929 |
Derivatives (Derivatives Asso86
Derivatives (Derivatives Associated With Cash Flow Hedges) (Details) - Cash Flow Hedges - Hedging Instruments And Hedged Items - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Mar. 31, 2016 |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | $ 650,000 | |||
Variability in cash flows related to debt instruments (primarily loans) | $ 250,000 | |||
Interest Rate Contract | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Variability in cash flows related to debt instruments (primarily loans) | $ 900,000 | $ 900,000 | ||
Interest rate swaps | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Notional | 900,000 | 900,000 | ||
Assets | 24 | $ 942 | ||
Liabilities | $ 85 |
Derivatives (Gains_(Losses) o87
Derivatives (Gains/(Losses) on Derivatives Associated with Cash Flow Hedges) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Loss expected to be reclassified to earnings in the next twelve months | $ 9,000 | |||
Cash Flow Hedges | Hedging Instruments | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain/(loss) recognized in Other comprehensive income/(loss) | $ (3,457) | $ 3,059 | (12,095) | $ 1,997 |
Gain/(loss) reclassified from AOCI into Interest income | 463 | (904) | 308 | (1,756) |
Cash Flow Hedges | Hedging Instruments | Interest rate swaps | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain/(loss) recognized in Other comprehensive income/(loss) | $ (3,914) | $ 3,491 | $ (15,531) | $ 390 |
Derivatives (Assets And Collate
Derivatives (Assets And Collateral Received) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Gross amounts of recognized assets | $ 122,056 | $ 81,634 |
Gross amounts not offset in the Statements of Condition | ||
Derivative assets not subject to master netting agreements | 19,200 | 10,200 |
Derivatives, interest rate contracts | ||
Derivative [Line Items] | ||
Gross amounts of recognized assets | 102,852 | 71,458 |
Gross amounts offset in the Statements of Condition | 0 | 0 |
Net amounts of assets presented in the Statements of Condition | 102,852 | 71,458 |
Gross amounts not offset in the Statements of Condition | ||
Derivative assets available for offset | (13,490) | (17,278) |
Collateral pledged | (89,317) | (51,271) |
Net amount | $ 45 | $ 2,909 |
Derivatives (Liabilities and Co
Derivatives (Liabilities and Collateral Pledged) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Gross amounts of recognized liabilities | $ 135,349 | $ 85,061 |
Gross amounts not offset in the Statements of Condition | ||
Derivative liabilities not subject to master netting agreements | 28,200 | 15,200 |
Derivatives, interest rate contracts | ||
Derivative [Line Items] | ||
Gross amounts of recognized liabilities | 107,178 | 69,842 |
Gross amounts offset in the Statements of Condition | 0 | 0 |
Net amounts of liabilities presented in the Statements of Condition | 107,178 | 69,842 |
Gross amounts not offset in the Statements of Condition | ||
Derivative assets available for offset | (13,490) | (17,278) |
Collateral pledged | (65,689) | (51,801) |
Net amount | $ 27,999 | $ 763 |
Master Netting and Similar Ag90
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Offsetting [Abstract] | ||
Gross amounts of recognized assets | $ 782,765 | $ 725,609 |
Gross amounts offset in the Statements of Condition | 0 | 0 |
Net amounts of assets presented in the Statements of Condition | 782,765 | 725,609 |
Gross amounts not offset in the Statements of Condition | ||
Offsetting securities sold under agreements to repurchase | (2,090) | (259) |
Securities collateral (not recognized on FHN’s Statements of Condition) | (772,347) | (720,036) |
Net amount | $ 8,328 | $ 5,314 |
Master Netting and Similar Ag91
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Offsetting [Abstract] | ||
Gross amounts of recognized liabilities | $ 713,152 | $ 656,602 |
Gross amounts offset in the Statements of Condition | 0 | 0 |
Net amounts of liabilities presented in the Statements of Condition | 713,152 | 656,602 |
Gross amounts not offset in the Statements of Condition | ||
Offsetting securities purchased under agreements to resell | (2,090) | (259) |
Securities/ government guaranteed loans collateral | (710,862) | (656,216) |
Net amount | $ 200 | $ 127 |
Master Netting and Similar Ag92
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | $ 713,152 | $ 656,602 |
Overnight and Continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 703,200 | 647,571 |
Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 9,952 | 9,031 |
U.S. treasuries | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 24,153 | 13,830 |
U.S. treasuries | Overnight and Continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 24,153 | 13,830 |
U.S. treasuries | Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 0 | 0 |
Government agency issued MBS | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 390,764 | 430,186 |
Government agency issued MBS | Overnight and Continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 383,835 | 424,821 |
Government agency issued MBS | Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 6,929 | 5,365 |
Government agency issued CMO | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 57,553 | 57,703 |
Government agency issued CMO | Overnight and Continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 54,530 | 54,037 |
Government agency issued CMO | Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 3,023 | 3,666 |
Government guaranteed loans (SBA and USDA) | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 240,682 | 154,883 |
Government guaranteed loans (SBA and USDA) | Overnight and Continuous | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | 240,682 | 154,883 |
Government guaranteed loans (SBA and USDA) | Up to 30 Days | ||
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
Total Securities sold under agreements to repurchase | $ 0 | $ 0 |
Fair Value Of Assets And Liab93
Fair Value Of Assets And Liabilities (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | $ 1,649,470 | $ 1,416,345 |
Loans held-for-sale (elected fair value) | 18,940 | 20,881 |
Securities available-for-sale | 5,170,255 | |
Level 3 | Derivatives, other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other liabilities | 9,425 | 5,645 |
Recurring | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale (elected fair value) | 18,940 | 20,881 |
Securities available-for-sale | 4,724,411 | 4,931,402 |
Total other assets | 189,259 | 121,456 |
Total assets | 6,582,080 | 6,490,084 |
Total other liabilities | 135,349 | 85,061 |
Total liabilities | 879,070 | 723,576 |
Recurring | Deferred compensation mutual funds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 40,068 | 39,822 |
Recurring | Derivatives, forwards and futures | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 19,127 | 10,161 |
Total other liabilities | 18,738 | 9,535 |
Recurring | Derivatives, interest rate contracts | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 102,766 | 71,473 |
Total other liabilities | 107,179 | 69,842 |
Recurring | Derivatives, other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 163 | |
Total other liabilities | 9,432 | 5,684 |
Recurring | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 98 | 99 |
Recurring | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 2,494,300 | 2,577,376 |
Recurring | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 2,107,580 | 2,269,858 |
Recurring | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 54,402 | |
Recurring | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 6,406 | |
Recurring | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 55,838 | 55,782 |
Recurring | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 27,017 | |
Total other assets | 27,135 | |
Recurring | Interest-only strips (elected fair value) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 5,787 | 1,270 |
Recurring | Trading securities—fixed income | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 1,647,746 | 1,414,194 |
Total trading liabilities—fixed income | 743,721 | 638,515 |
Recurring | Trading securities—fixed income | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 53,315 | 128,995 |
Total trading liabilities—fixed income | 520,463 | 506,679 |
Recurring | Trading securities—fixed income | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 185,118 | 227,038 |
Recurring | Trading securities—fixed income | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 305,125 | 275,014 |
Recurring | Trading securities—fixed income | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 111,516 | 54,699 |
Total trading liabilities—fixed income | 329 | |
Recurring | Trading securities—fixed income | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 89,629 | 34,573 |
Total trading liabilities—fixed income | 2,572 | |
Recurring | Trading securities—fixed income | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 902,580 | 693,877 |
Total trading liabilities—fixed income | 220,357 | 131,836 |
Recurring | Trading securities—fixed income | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 463 | (2) |
Recurring | Trading securities—mortgage banking | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 1,724 | 2,151 |
Recurring | Level 1 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale (elected fair value) | 0 | 0 |
Securities available-for-sale | 0 | 27,017 |
Total other assets | 86,330 | 49,983 |
Total assets | 86,330 | 77,000 |
Total other liabilities | 18,738 | 9,535 |
Total liabilities | 18,738 | 9,535 |
Recurring | Level 1 | Deferred compensation mutual funds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 40,068 | 39,822 |
Recurring | Level 1 | Derivatives, forwards and futures | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 19,127 | 10,161 |
Total other liabilities | 18,738 | 9,535 |
Recurring | Level 1 | Derivatives, interest rate contracts | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | 0 |
Total other liabilities | 0 | 0 |
Recurring | Level 1 | Derivatives, other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | |
Total other liabilities | 0 | 0 |
Recurring | Level 1 | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 1 | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 1 | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 1 | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | |
Recurring | Level 1 | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | |
Recurring | Level 1 | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 1 | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 27,017 | |
Total other assets | 27,135 | |
Recurring | Level 1 | Interest-only strips (elected fair value) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 1 | Trading securities—fixed income | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | 0 |
Recurring | Level 1 | Trading securities—fixed income | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | 0 |
Recurring | Level 1 | Trading securities—fixed income | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 1 | Trading securities—fixed income | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 1 | Trading securities—fixed income | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | |
Recurring | Level 1 | Trading securities—fixed income | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | |
Recurring | Level 1 | Trading securities—fixed income | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | 0 |
Recurring | Level 1 | Trading securities—fixed income | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 1 | Trading securities—mortgage banking | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 2 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale (elected fair value) | 2,222 | 1,955 |
Securities available-for-sale | 4,718,624 | 4,903,115 |
Total other assets | 102,929 | 71,473 |
Total assets | 6,471,521 | 6,390,737 |
Total other liabilities | 107,186 | 69,881 |
Total liabilities | 850,907 | 708,396 |
Recurring | Level 2 | Deferred compensation mutual funds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | 0 |
Recurring | Level 2 | Derivatives, forwards and futures | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | 0 |
Total other liabilities | 0 | 0 |
Recurring | Level 2 | Derivatives, interest rate contracts | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 102,766 | 71,473 |
Total other liabilities | 107,179 | 69,842 |
Recurring | Level 2 | Derivatives, other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 163 | |
Total other liabilities | 7 | 39 |
Recurring | Level 2 | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 98 | 99 |
Recurring | Level 2 | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 2,494,300 | 2,577,376 |
Recurring | Level 2 | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 2,107,580 | 2,269,858 |
Recurring | Level 2 | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 54,402 | |
Recurring | Level 2 | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 6,406 | |
Recurring | Level 2 | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 55,838 | 55,782 |
Recurring | Level 2 | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | |
Total other assets | 0 | |
Recurring | Level 2 | Interest-only strips (elected fair value) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 2 | Trading securities—fixed income | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 1,647,746 | 1,414,194 |
Total trading liabilities—fixed income | 743,721 | 638,515 |
Recurring | Level 2 | Trading securities—fixed income | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 53,315 | 128,995 |
Total trading liabilities—fixed income | 520,463 | 506,679 |
Recurring | Level 2 | Trading securities—fixed income | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 185,118 | 227,038 |
Recurring | Level 2 | Trading securities—fixed income | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 305,125 | 275,014 |
Recurring | Level 2 | Trading securities—fixed income | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 111,516 | 54,699 |
Total trading liabilities—fixed income | 329 | |
Recurring | Level 2 | Trading securities—fixed income | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 89,629 | 34,573 |
Total trading liabilities—fixed income | 2,572 | |
Recurring | Level 2 | Trading securities—fixed income | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 902,580 | 693,877 |
Total trading liabilities—fixed income | 220,357 | 131,836 |
Recurring | Level 2 | Trading securities—fixed income | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 463 | (2) |
Recurring | Level 2 | Trading securities—mortgage banking | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale (elected fair value) | 16,718 | 18,926 |
Securities available-for-sale | 5,787 | 1,270 |
Total other assets | 0 | 0 |
Total assets | 24,229 | 22,347 |
Total other liabilities | 9,425 | 5,645 |
Total liabilities | 9,425 | 5,645 |
Recurring | Level 3 | Deferred compensation mutual funds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | 0 |
Recurring | Level 3 | Derivatives, forwards and futures | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | 0 |
Total other liabilities | 0 | 0 |
Recurring | Level 3 | Derivatives, interest rate contracts | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | 0 |
Total other liabilities | 0 | 0 |
Recurring | Level 3 | Derivatives, other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Total other assets | 0 | |
Total other liabilities | 9,425 | 5,645 |
Recurring | Level 3 | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 3 | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 3 | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 3 | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | |
Recurring | Level 3 | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | |
Recurring | Level 3 | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Recurring | Level 3 | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 0 | |
Total other assets | 0 | |
Recurring | Level 3 | Interest-only strips (elected fair value) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Securities available-for-sale | 5,787 | 1,270 |
Recurring | Level 3 | Trading securities—fixed income | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | 0 |
Recurring | Level 3 | Trading securities—fixed income | U.S. treasuries | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | 0 |
Recurring | Level 3 | Trading securities—fixed income | Government agency issued MBS | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 3 | Trading securities—fixed income | Government agency issued CMO | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 3 | Trading securities—fixed income | Other U.S. government agencies | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | |
Recurring | Level 3 | Trading securities—fixed income | States and municipalities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | |
Recurring | Level 3 | Trading securities—fixed income | Corporates and other debt | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Total trading liabilities—fixed income | 0 | 0 |
Recurring | Level 3 | Trading securities—fixed income | Equity, mutual funds, and other | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | 0 | 0 |
Recurring | Level 3 | Trading securities—mortgage banking | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Trading securities | $ 1,724 | $ 2,151 |
Fair Value Of Assets And Liab94
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Beginning balance | $ (5,645) | $ (5,950) | $ (5,645) | $ (6,245) |
Net income | (4,079) | (49) | (4,375) | (50) |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | ||
Settlements | 299 | 299 | 595 | 595 |
Net transfers into/(out of) Level 3 | 0 | 0 | 0 | 0 |
Ending balance | (9,425) | (5,700) | (9,425) | (5,700) |
Net unrealized gains/(losses) included in net income | (4,079) | (49) | (4,375) | (50) |
Trading securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 1,926 | 2,335 | 2,151 | 2,573 |
Net income | 124 | 271 | 140 | 288 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | ||
Settlements | (326) | (142) | (567) | (397) |
Net transfers into/(out of) Level 3 | 0 | 0 | 0 | 0 |
Ending balance | 1,724 | 2,464 | 1,724 | 2,464 |
Net unrealized gains/(losses) included in net income | 87 | 229 | 63 | 202 |
Interest- only strips- AFS | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 2,733 | 0 | 1,270 | 0 |
Net income | (296) | 267 | 1,296 | 267 |
Purchases | 0 | 1,413 | 0 | 1,413 |
Sales | 0 | 0 | ||
Settlements | 0 | (3,291) | (9,193) | (3,291) |
Net transfers into/(out of) Level 3 | 3,350 | 2,774 | 12,414 | 2,774 |
Ending balance | 5,787 | 1,163 | 5,787 | 1,163 |
Net unrealized gains/(losses) included in net income | (128) | (53) | (109) | (53) |
Loans held- for-sale | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning balance | 18,334 | 21,221 | 18,926 | 21,924 |
Net income | 540 | 410 | 709 | 1,332 |
Purchases | 34 | 43 | 62 | 75 |
Sales | 0 | 0 | ||
Settlements | (2,134) | (827) | (2,923) | (2,401) |
Net transfers into/(out of) Level 3 | (56) | (260) | (56) | (343) |
Ending balance | 16,718 | 20,587 | 16,718 | 20,587 |
Net unrealized gains/(losses) included in net income | $ 542 | $ 410 | $ 709 | $ 1,332 |
Fair Value Of Assets And Liab95
Fair Value Of Assets And Liabilities (Nonrecurring Fair Value Measurements) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | $ 18,940 | $ 20,881 | ||||
Loans, net of unearned income | 27,701,740 | [1] | 27,658,929 | [1] | $ 19,989,319 | |
OREO | [2] | 29,712 | 43,382 | |||
Non Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans, net of unearned income | 29,061 | 26,666 | ||||
OREO | 26,457 | 39,566 | ||||
Other assets | 24,699 | 26,521 | ||||
Non Recurring | Loans held-for-sale—first mortgages | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 607 | 618 | ||||
Non Recurring | Loans held-for-sale—SBAs and USDA | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 579,523 | 466,977 | ||||
Non Recurring | Level 1 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans, net of unearned income | 0 | 0 | ||||
OREO | 0 | 0 | ||||
Other assets | 0 | 0 | ||||
Non Recurring | Level 1 | Loans held-for-sale—first mortgages | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 0 | 0 | ||||
Non Recurring | Level 1 | Loans held-for-sale—SBAs and USDA | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 0 | 0 | ||||
Non Recurring | Level 2 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans, net of unearned income | 0 | 0 | ||||
OREO | 0 | 0 | ||||
Other assets | 0 | 0 | ||||
Non Recurring | Level 2 | Loans held-for-sale—first mortgages | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 0 | 0 | ||||
Non Recurring | Level 2 | Loans held-for-sale—SBAs and USDA | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 578,498 | 465,504 | ||||
Non Recurring | Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans, net of unearned income | 29,061 | 26,666 | ||||
OREO | 26,457 | 39,566 | ||||
Other assets | 24,699 | 26,521 | ||||
Non Recurring | Level 3 | Loans held-for-sale—first mortgages | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 607 | 618 | ||||
Non Recurring | Level 3 | Loans held-for-sale—SBAs and USDA | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held-for-sale (elected fair value) | $ 1,025 | $ 1,473 | ||||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. | |||||
[2] | June 30, 2018 and December 31, 2017 include $6.1 million and $6.3 million, respectively, of foreclosed residential real estate. |
Fair Value Of Assets And Liab96
Fair Value Of Assets And Liabilities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||||
Gain/(loss) on instrument specific credit risk | $ 0 | $ 0.2 | $ 0.3 | $ 0.3 | ||
Corporate Segment | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived asset impairment | $ 1.3 | $ 3 | $ 2 | |||
Regional Banking | ||||||
Segment Reporting Information [Line Items] | ||||||
Long-lived asset impairment | $ 0.8 |
Fair Value Of Assets And Liab97
Fair Value Of Assets And Liabilities (Gains/(losses) on Nonrecurring Fair Value Measurements) (Details) - Non Recurring - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans, net of unearned income | $ 665 | $ (452) | $ 1,167 | $ 32 |
OREO | (262) | (176) | (1,422) | (621) |
Other assets | (1,079) | (942) | (2,216) | (1,884) |
Total | (2,102) | (2,697) | (4,454) | (3,630) |
Loans held-for-sale—first mortgages | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held-for-sale | (1) | 13 | 4 | 16 |
Loans held-for-sale—SBAs and USDA | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Loans held-for-sale | $ (1,425) | $ (1,140) | $ (1,987) | $ (1,173) |
Fair Value Of Assets And Liab98
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 | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Securities available-for-sale | $ 5,170,255 | |||||
Loans held-for-sale (elected fair value) | $ 18,940 | 20,881 | ||||
Loans, net of unearned income | 27,701,740 | [1] | 27,658,929 | [1] | $ 19,989,319 | |
OREO | [2] | 29,712 | 43,382 | |||
Residential Real Estate | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
OREO | 6,100 | 6,300 | ||||
Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Securities available-for-sale | 4,724,411 | 4,931,402 | ||||
Loans held-for-sale (elected fair value) | 18,940 | 20,881 | ||||
Derivative liabilities, other | 135,349 | 85,061 | ||||
Other assets | 189,259 | 121,456 | ||||
Non Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loans, net of unearned income | 29,061 | 26,666 | ||||
OREO | 26,457 | 39,566 | ||||
Other assets | 24,699 | 26,521 | ||||
Non Recurring | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 607 | 618 | ||||
Derivative liabilities, other | Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Derivative liabilities, other | 9,432 | 5,684 | ||||
Other assets | 163 | |||||
Level 3 | Residential Real Estate | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 17,325 | 19,544 | ||||
Level 3 | Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Securities available-for-sale | 5,787 | 1,270 | ||||
Loans held-for-sale (elected fair value) | 16,718 | 18,926 | ||||
Derivative liabilities, other | 9,425 | 5,645 | ||||
Other assets | 0 | 0 | ||||
Level 3 | Non Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loans, net of unearned income | 29,061 | 26,666 | ||||
OREO | 26,457 | 39,566 | ||||
Other assets | 24,699 | 26,521 | ||||
Level 3 | Non Recurring | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 607 | 618 | ||||
Level 3 | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Derivative liabilities, other | 9,425 | 5,645 | ||||
Level 3 | Derivative liabilities, other | Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Derivative liabilities, other | 9,425 | 5,645 | ||||
Other assets | 0 | |||||
Level 3 | Loans held-for-sale- unguaranteed interest in SBA loans | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loans held-for-sale (elected fair value) | 1,025 | 1,473 | ||||
Level 3 | Other assets | Non Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Other assets | 24,699 | 26,521 | ||||
Level 3 | Discounted cash flow | Minimum | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Visa covered litigation resolution amount | $ 5,000,000 | $ 4,400,000 | ||||
Level 3 | Discounted cash flow | Minimum | Values Utilized | Loans held-for-sale- unguaranteed interest in SBA loans | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Bond equivalent yield | 13.00% | 9.00% | ||||
Level 3 | Discounted cash flow | Minimum | 2% - 11% Values Utilized | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 2.00% | |||||
Level 3 | Discounted cash flow | Minimum | 5% - 12% Values Utilized | Loans held- for-sale | Residential Real Estate | HELOC | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 5.00% | 5.00% | ||||
Level 3 | Discounted cash flow | Minimum | 50% - 70% Percent Values Utilized | Loans held- for-sale | Residential Real Estate | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Foreclosure losses | 50.00% | 50.00% | ||||
Level 3 | Discounted cash flow | Minimum | 5% - 25% Of Unpaid Principle Balance | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loss severity trends - First mortgage | 5.00% | |||||
Level 3 | Discounted cash flow | Minimum | Percent Of Unpaid Principle Balance | Loans held- for-sale | Residential Real Estate | HELOC | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loss severity trends - First mortgage | 50.00% | 15.00% | ||||
Level 3 | Discounted cash flow | Minimum | 8% - 12% Values Utilized | Loans held-for-sale- unguaranteed interest in SBA loans | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 8.00% | 8.00% | ||||
Level 3 | Discounted cash flow | Minimum | 20% - 30% Values Utilized | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 20.00% | |||||
Level 3 | Discounted cash flow | Minimum | 10% - 30% Values Utilized | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 10.00% | |||||
Level 3 | Discounted cash flow | Minimum | 24 - 48 Months | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Time until resolution | 24 months | |||||
Level 3 | Discounted cash flow | Minimum | 18 to 48 months | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Time until resolution | 18 months | |||||
Level 3 | Discounted cash flow | Minimum | 0% - 15% Adjustment To Yield | Other assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Adjustments to current sales yields for specific properties | 0.00% | 0.00% | ||||
Level 3 | Discounted cash flow | Minimum | 2% - 12% Values Utilized | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 2.00% | |||||
Level 3 | Discounted cash flow | Minimum | 5% - 30% Percent Values Utilized | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loss severity trends - First mortgage | 5.00% | |||||
Level 3 | Discounted cash flow | Maximum | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Visa covered litigation resolution amount | $ 5,600,000 | $ 5,200,000 | ||||
Level 3 | Discounted cash flow | Maximum | Values Utilized | Loans held-for-sale- unguaranteed interest in SBA loans | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Bond equivalent yield | 14.00% | 10.00% | ||||
Level 3 | Discounted cash flow | Maximum | 2% - 11% Values Utilized | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 11.00% | |||||
Level 3 | Discounted cash flow | Maximum | 5% - 12% Values Utilized | Loans held- for-sale | Residential Real Estate | HELOC | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 12.00% | 12.00% | ||||
Level 3 | Discounted cash flow | Maximum | 50% - 70% Percent Values Utilized | Loans held- for-sale | Residential Real Estate | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Foreclosure losses | 70.00% | 70.00% | ||||
Level 3 | Discounted cash flow | Maximum | 5% - 25% Of Unpaid Principle Balance | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loss severity trends - First mortgage | 25.00% | |||||
Level 3 | Discounted cash flow | Maximum | Percent Of Unpaid Principle Balance | Loans held- for-sale | Residential Real Estate | HELOC | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loss severity trends - First mortgage | 100.00% | 100.00% | ||||
Level 3 | Discounted cash flow | Maximum | 8% - 12% Values Utilized | Loans held-for-sale- unguaranteed interest in SBA loans | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 12.00% | 12.00% | ||||
Level 3 | Discounted cash flow | Maximum | 20% - 30% Values Utilized | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 30.00% | |||||
Level 3 | Discounted cash flow | Maximum | 10% - 30% Values Utilized | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Probability of resolution scenarios | 30.00% | |||||
Level 3 | Discounted cash flow | Maximum | 24 - 48 Months | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Time until resolution | 48 months | |||||
Level 3 | Discounted cash flow | Maximum | 18 to 48 months | Derivative liabilities, other | Derivative liabilities, other | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Time until resolution | 48 months | |||||
Level 3 | Discounted cash flow | Maximum | 0% - 15% Adjustment To Yield | Other assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Adjustments to current sales yields for specific properties | 15.00% | 15.00% | ||||
Level 3 | Discounted cash flow | Maximum | 2% - 12% Values Utilized | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 12.00% | |||||
Level 3 | Discounted cash flow | Maximum | 5% - 30% Percent Values Utilized | Loans held- for-sale | Residential Real Estate | Loans held-for-sale—first mortgages | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Loss severity trends - First mortgage | 30.00% | |||||
Level 3 | Appraisals from comparable properties | Minimum | 0% -10% Of Appraisal | Loans, net of unearned income | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 0.00% | 0.00% | ||||
Level 3 | Appraisals from comparable properties | Minimum | 0% -10% Of Appraisal | OREO | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Adjustment for value changes since appraisal | 0.00% | 0.00% | ||||
Level 3 | Appraisals from comparable properties | Minimum | 0% - 25% Of Appraisal | Other assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 0.00% | 0.00% | ||||
Level 3 | Appraisals from comparable properties | Maximum | 0% -10% Of Appraisal | Loans, net of unearned income | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 10.00% | 10.00% | ||||
Level 3 | Appraisals from comparable properties | Maximum | 0% -10% Of Appraisal | OREO | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Adjustment for value changes since appraisal | 10.00% | 10.00% | ||||
Level 3 | Appraisals from comparable properties | Maximum | 0% - 25% Of Appraisal | Other assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Marketability adjustments for specific properties | 25.00% | 25.00% | ||||
Level 3 | Other collateral valuations | Minimum | 20% - 50% Of Gross Value | Loans, net of unearned income | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Borrowing base certificates adjustment | 20.00% | 20.00% | ||||
Level 3 | Other collateral valuations | Minimum | 0% - 25% Of Reported Value | Loans, net of unearned income | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Financial Statements/Auction values adjustment | 0.00% | 0.00% | ||||
Level 3 | Other collateral valuations | Maximum | 20% - 50% Of Gross Value | Loans, net of unearned income | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Borrowing base certificates adjustment | 50.00% | 50.00% | ||||
Level 3 | Other collateral valuations | Maximum | 0% - 25% Of Reported Value | Loans, net of unearned income | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Financial Statements/Auction values adjustment | 25.00% | 25.00% | ||||
Level 3 | Interest- only strips- AFS | Recurring | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Securities available-for-sale | $ 5,787 | $ 1,270 | ||||
Level 3 | Interest- only strips- AFS | Discounted cash flow | Values Utilized | Available-for-sale securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 11.00% | |||||
Level 3 | Interest- only strips- AFS | Discounted cash flow | 17% Values Utilized | Available-for-sale securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Bond equivalent yield | 17.00% | |||||
Level 3 | Interest- only strips- AFS | Discounted cash flow | Minimum | 12% - 14% Values Utilized | Available-for-sale securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Bond equivalent yield | 12.00% | |||||
Level 3 | Interest- only strips- AFS | Discounted cash flow | Minimum | 10% - 11% Values Utilized | Available-for-sale securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 10.00% | |||||
Level 3 | Interest- only strips- AFS | Discounted cash flow | Maximum | 12% - 14% Values Utilized | Available-for-sale securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Bond equivalent yield | 14.00% | |||||
Level 3 | Interest- only strips- AFS | Discounted cash flow | Maximum | 10% - 11% Values Utilized | Available-for-sale securities | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Constant prepayment rate | 11.00% | |||||
[1] | June 30, 2018 and December 31, 2017 include $21.4 million and $22.7 million, respectively, of held-to-maturity consumer mortgage loans secured by residential real estate in process of foreclosure. | |||||
[2] | June 30, 2018 and December 31, 2017 include $6.1 million and $6.3 million, respectively, of foreclosed residential real estate. |
Fair Value Of Assets And Liab99
Fair Value Of Assets And Liabilities (Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale (elected fair value) | $ 18,940 | $ 20,881 |
Fair value carrying amount less aggregate unpaid principal - Total loans | (7,704) | (8,874) |
Nonaccrual loans | 4,674 | 5,783 |
Fair value carrying amount less aggregate unpaid principal - Nonaccrual loans | (4,156) | (5,098) |
Loans 90 days or more past due and still accruing | 34 | 0 |
Fair value carrying amount less aggregate unpaid principal - Loans 90 days or more past due and still accruing | (17) | 0 |
Aggregate unpaid principal | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Loans held-for-sale (elected fair value) | 26,644 | 29,755 |
Nonaccrual loans | 8,830 | 10,881 |
Loans 90 days or more past due and still accruing | $ 51 | $ 0 |
Fair Value Of Assets And Lia100
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
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 | $ 540 | $ 410 | $ 709 | $ 1,332 |
Fair Value Of Assets And Lia101
Fair Value Of Assets And Liabilities (Summary Of Book Value And Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | |
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | $ 27,516,278 | $ 27,469,374 | |
Short-term financial assets: | |||
Interest-bearing cash | 750,634 | 1,185,600 | |
Federal funds sold | 91,303 | 87,364 | |
Securities purchased under agreements to resell | 782,765 | 725,609 | |
Trading securities | 1,649,470 | 1,416,345 | |
Loans held-for-sale | [1] | 692,659 | 699,377 |
Fair Value | 4,724,411 | 5,170,255 | |
Securities held-to-maturity | 10,000 | 10,000 | |
Derivative assets | 122,056 | 81,634 | |
Nonearning assets: | |||
Cash and due from banks | 602,952 | 639,073 | |
Fixed income receivables | 68,148 | 68,693 | |
Total assets | 41,076,795 | 41,423,388 | |
Deposits: | |||
Total deposits | 30,977,867 | 30,620,362 | |
Trading liabilities | 743,721 | 638,515 | |
Short-term financial liabilities: | |||
Federal funds purchased | 351,655 | 399,820 | |
Securities sold under agreements to repurchase | 713,152 | 656,602 | |
Other short-term borrowings | 1,836,852 | 2,626,213 | |
Term borrowings: | |||
Term borrowings | 1,227,281 | 1,218,097 | |
Derivative liabilities | 135,349 | 85,061 | |
Other noninterest-bearing liabilities: | |||
Fixed income payables | 14,739 | 48,996 | |
Total liabilities | 36,527,046 | 36,842,900 | |
Level 3 | FHLB-Cincinnati | |||
Other noninterest-bearing liabilities: | |||
Restricted investments | 87,900 | 87,900 | |
Level 3 | FRB Stock | |||
Other noninterest-bearing liabilities: | |||
Restricted investments | 130,600 | 134,600 | |
Book Value | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 27,516,278 | 27,469,374 | |
Short-term financial assets: | |||
Interest-bearing cash | 1,185,600 | ||
Federal funds sold | 87,364 | ||
Securities purchased under agreements to resell | 725,609 | ||
Total short-term financial assets | 1,624,702 | 1,998,573 | |
Trading securities | 1,649,470 | 1,416,345 | |
Loans held-for-sale | 692,659 | ||
Fair Value | 4,724,411 | 5,170,255 | |
Securities held-to-maturity | 10,000 | 10,000 | |
Derivative assets | 122,056 | 81,634 | |
Other assets: | |||
Tax credit investments | 119,186 | 119,317 | |
Deferred compensation mutual funds | 40,068 | 39,822 | |
Equity, mutual funds, and other | 245,617 | ||
Total other assets | 404,871 | 159,139 | |
Nonearning assets: | |||
Cash and due from banks | 639,073 | ||
Fixed income receivables | 68,693 | ||
Accrued interest receivable | 97,239 | ||
Accrued interest receivable | 805,005 | ||
Total assets | 36,744,447 | 37,809,702 | |
Deposits: | |||
Defined maturity | 3,322,921 | ||
Undefined maturity | 27,297,441 | ||
Total deposits | 3,543,987 | 30,620,362 | |
Trading liabilities | 638,515 | ||
Short-term financial liabilities: | |||
Federal funds purchased | 399,820 | ||
Securities sold under agreements to repurchase | 656,602 | ||
Other short-term borrowings | 2,626,213 | ||
Total short-term financial liabilities | 2,901,659 | 3,682,635 | |
Term borrowings: | |||
Real estate investment trust-preferred | 46,134 | 46,100 | |
Term borrowings—new market tax credit investment | 18,000 | 18,000 | |
Secured borrowings | 34,046 | 18,642 | |
Junior subordinated debentures | 187,950 | 187,281 | |
Term borrowings | 941,151 | 948,074 | |
Total term borrowings | 1,227,281 | 1,218,097 | |
Derivative liabilities | 85,061 | ||
Other noninterest-bearing liabilities: | |||
Fixed income payables | 48,996 | ||
Accrued interest payable | 16,270 | ||
Total other noninterest-bearing liabilities | 65,266 | ||
Total liabilities | 8,551,997 | 36,309,936 | |
Book Value | Commercial, financial and industrial | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 16,341,911 | 15,959,062 | |
Book Value | Commercial real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 4,102,524 | 4,186,268 | |
Book Value | Consumer real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 6,190,842 | 6,330,384 | |
Book Value | Permanent mortgage | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 340,838 | 383,742 | |
Book Value | Credit card & other | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 540,163 | 609,918 | |
Book Value | Mortgage loans (elected fair value) | |||
Short-term financial assets: | |||
Loans held-for-sale | 18,940 | 88,173 | |
Book Value | USDA & SBA loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 579,523 | 466,977 | |
Book Value | Other consumer loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 30,175 | 144,227 | |
Book Value | Mortgage loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 64,021 | ||
Fair Value | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 27,423,134 | 27,523,017 | |
Short-term financial assets: | |||
Interest-bearing cash | 750,634 | 1,185,600 | |
Federal funds sold | 91,303 | 87,364 | |
Securities purchased under agreements to resell | 782,765 | 725,609 | |
Total short-term financial assets | 1,624,702 | 1,998,573 | |
Trading securities | 1,649,470 | 1,416,345 | |
Loans held-for-sale | 695,225 | ||
Fair Value | 4,724,411 | 5,170,255 | |
Securities held-to-maturity | 9,786 | 9,901 | |
Derivative assets | 122,056 | 81,634 | |
Other assets: | |||
Tax credit investments | 114,392 | 112,292 | |
Deferred compensation mutual funds | 40,068 | 39,822 | |
Equity, mutual funds, and other | 245,617 | ||
Total other assets | 400,077 | 152,114 | |
Nonearning assets: | |||
Cash and due from banks | 639,073 | ||
Fixed income receivables | 68,693 | ||
Accrued interest receivable | 97,239 | ||
Accrued interest receivable | 805,005 | ||
Total assets | 36,648,861 | 37,857,981 | |
Deposits: | |||
Defined maturity | 3,293,650 | ||
Undefined maturity | 27,297,431 | ||
Total deposits | 3,518,069 | 30,591,081 | |
Trading liabilities | 743,721 | 638,515 | |
Short-term financial liabilities: | |||
Federal funds purchased | 351,655 | 399,820 | |
Securities sold under agreements to repurchase | 713,152 | 656,602 | |
Other short-term borrowings | 1,836,852 | 2,626,213 | |
Total short-term financial liabilities | 2,901,659 | 3,682,635 | |
Term borrowings: | |||
Real estate investment trust-preferred | 47,940 | 48,880 | |
Term borrowings—new market tax credit investment | 17,898 | 17,930 | |
Secured borrowings | 33,866 | 18,305 | |
Junior subordinated debentures | 187,950 | 187,281 | |
Term borrowings | 953,035 | 966,292 | |
Total term borrowings | 1,240,689 | 1,238,688 | |
Derivative liabilities | 135,349 | 85,061 | |
Other noninterest-bearing liabilities: | |||
Fixed income payables | 48,996 | ||
Accrued interest payable | 16,270 | ||
Total other noninterest-bearing liabilities | 65,266 | ||
Total liabilities | 8,539,487 | 36,301,246 | |
Loan commitments | 2,186 | 2,617 | |
Standby and other commitments | 5,028 | 5,274 | |
Fair Value | Commercial, financial and industrial | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 16,289,383 | 15,990,991 | |
Fair Value | Commercial real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 4,106,951 | 4,215,367 | |
Fair Value | Consumer real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 6,139,842 | 6,320,308 | |
Fair Value | Permanent mortgage | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 347,349 | 388,396 | |
Fair Value | Credit card & other | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 539,609 | 607,955 | |
Fair Value | Mortgage loans (elected fair value) | |||
Short-term financial assets: | |||
Loans held-for-sale | 18,940 | 88,173 | |
Fair Value | USDA & SBA loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 582,089 | 468,737 | |
Fair Value | Other consumer loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 30,175 | 144,227 | |
Fair Value | Mortgage loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 64,021 | ||
Fair Value | Level 1 | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Short-term financial assets: | |||
Interest-bearing cash | 750,634 | 1,185,600 | |
Federal funds sold | 0 | 0 | |
Securities purchased under agreements to resell | 0 | 0 | |
Total short-term financial assets | 750,634 | 1,185,600 | |
Trading securities | 0 | 0 | |
Loans held-for-sale | 0 | ||
Fair Value | 0 | 27,017 | |
Securities held-to-maturity | 0 | 0 | |
Derivative assets | 19,127 | 10,161 | |
Other assets: | |||
Tax credit investments | 0 | 0 | |
Deferred compensation mutual funds | 40,068 | 39,822 | |
Equity, mutual funds, and other | 27,135 | ||
Total other assets | 67,203 | 39,822 | |
Nonearning assets: | |||
Cash and due from banks | 639,073 | ||
Fixed income receivables | 0 | ||
Accrued interest receivable | 0 | ||
Accrued interest receivable | 639,073 | ||
Total assets | 836,964 | 1,901,673 | |
Deposits: | |||
Defined maturity | 0 | ||
Undefined maturity | 0 | ||
Total deposits | 0 | 0 | |
Trading liabilities | 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 | |
Secured borrowings | 0 | 0 | |
Junior subordinated debentures | 0 | 0 | |
Term borrowings | 0 | 0 | |
Total term borrowings | 0 | 0 | |
Derivative liabilities | 18,738 | 9,535 | |
Other noninterest-bearing liabilities: | |||
Fixed income payables | 0 | ||
Accrued interest payable | 0 | ||
Total other noninterest-bearing liabilities | 0 | ||
Total liabilities | 18,738 | 9,535 | |
Fair Value | Level 1 | Commercial, financial and industrial | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 1 | Commercial real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 1 | Consumer real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 1 | Permanent mortgage | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 1 | Credit card & other | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 1 | Mortgage loans (elected fair value) | |||
Short-term financial assets: | |||
Loans held-for-sale | 0 | 0 | |
Fair Value | Level 1 | USDA & SBA loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 0 | 0 | |
Fair Value | Level 1 | Other consumer loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 0 | 0 | |
Fair Value | Level 1 | Mortgage loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 0 | ||
Fair Value | Level 2 | |||
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 | 91,303 | 87,364 | |
Securities purchased under agreements to resell | 782,765 | 725,609 | |
Total short-term financial assets | 874,068 | 812,973 | |
Trading securities | 1,647,746 | 1,414,194 | |
Loans held-for-sale | 590,232 | ||
Fair Value | 4,718,624 | 4,903,115 | |
Securities held-to-maturity | 0 | 0 | |
Derivative assets | 102,929 | 71,473 | |
Other assets: | |||
Tax credit investments | 0 | 0 | |
Deferred compensation mutual funds | 0 | 0 | |
Equity, mutual funds, and other | 0 | ||
Total other assets | 0 | 0 | |
Nonearning assets: | |||
Cash and due from banks | 0 | ||
Fixed income receivables | 68,693 | ||
Accrued interest receivable | 97,239 | ||
Accrued interest receivable | 165,932 | ||
Total assets | 7,933,599 | 7,851,781 | |
Deposits: | |||
Defined maturity | 3,293,650 | ||
Undefined maturity | 27,297,431 | ||
Total deposits | 3,518,069 | 30,591,081 | |
Trading liabilities | 743,721 | 638,515 | |
Short-term financial liabilities: | |||
Federal funds purchased | 351,655 | 399,820 | |
Securities sold under agreements to repurchase | 713,152 | 656,602 | |
Other short-term borrowings | 1,836,852 | 2,626,213 | |
Total short-term financial liabilities | 2,901,659 | 3,682,635 | |
Term borrowings: | |||
Real estate investment trust-preferred | 0 | 0 | |
Term borrowings—new market tax credit investment | 0 | 0 | |
Secured borrowings | 0 | 0 | |
Junior subordinated debentures | 0 | 0 | |
Term borrowings | 953,035 | 966,292 | |
Total term borrowings | 953,035 | 966,292 | |
Derivative liabilities | 107,186 | 69,881 | |
Other noninterest-bearing liabilities: | |||
Fixed income payables | 48,996 | ||
Accrued interest payable | 16,270 | ||
Total other noninterest-bearing liabilities | 65,266 | ||
Total liabilities | 8,223,670 | 36,013,670 | |
Fair Value | Level 2 | Commercial, financial and industrial | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 2 | Commercial real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 2 | Consumer real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 2 | Permanent mortgage | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 2 | Credit card & other | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 0 | 0 | |
Fair Value | Level 2 | Mortgage loans (elected fair value) | |||
Short-term financial assets: | |||
Loans held-for-sale | 2,222 | 6,902 | |
Fair Value | Level 2 | USDA & SBA loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 581,051 | 467,227 | |
Fair Value | Level 2 | Other consumer loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 6,959 | 9,965 | |
Fair Value | Level 2 | Mortgage loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 0 | ||
Fair Value | Level 3 | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 27,423,134 | 27,523,017 | |
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 | 1,724 | 2,151 | |
Loans held-for-sale | 104,993 | ||
Fair Value | 5,787 | 240,123 | |
Securities held-to-maturity | 9,786 | 9,901 | |
Derivative assets | 0 | 0 | |
Other assets: | |||
Tax credit investments | 114,392 | 112,292 | |
Deferred compensation mutual funds | 0 | 0 | |
Equity, mutual funds, and other | 218,482 | ||
Total other assets | 332,874 | 112,292 | |
Nonearning assets: | |||
Cash and due from banks | 0 | ||
Fixed income receivables | 0 | ||
Accrued interest receivable | 0 | ||
Accrued interest receivable | 0 | ||
Total assets | 27,878,298 | 28,104,527 | |
Deposits: | |||
Defined maturity | 0 | ||
Undefined maturity | 0 | ||
Total deposits | 0 | 0 | |
Trading liabilities | 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 | 47,940 | 48,880 | |
Term borrowings—new market tax credit investment | 17,898 | 17,930 | |
Secured borrowings | 33,866 | 18,305 | |
Junior subordinated debentures | 187,950 | 187,281 | |
Term borrowings | 0 | 0 | |
Total term borrowings | 287,654 | 272,396 | |
Derivative liabilities | 9,425 | 5,645 | |
Other noninterest-bearing liabilities: | |||
Fixed income payables | 0 | ||
Accrued interest payable | 0 | ||
Total other noninterest-bearing liabilities | 0 | ||
Total liabilities | 297,079 | 278,041 | |
Fair Value | Level 3 | Commercial, financial and industrial | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 16,289,383 | 15,990,991 | |
Fair Value | Level 3 | Commercial real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 4,106,951 | 4,215,367 | |
Fair Value | Level 3 | Consumer real estate | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 6,139,842 | 6,320,308 | |
Fair Value | Level 3 | Permanent mortgage | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 347,349 | 388,396 | |
Fair Value | Level 3 | Credit card & other | |||
Assets: | |||
Total loans, net of unearned income and allowance for loan losses | 539,609 | 607,955 | |
Fair Value | Level 3 | Mortgage loans (elected fair value) | |||
Short-term financial assets: | |||
Loans held-for-sale | 16,718 | 81,271 | |
Fair Value | Level 3 | USDA & SBA loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 1,038 | 1,510 | |
Fair Value | Level 3 | Other consumer loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 23,216 | 134,262 | |
Fair Value | Level 3 | Mortgage loans- LOCOM | |||
Short-term financial assets: | |||
Loans held-for-sale | 64,021 | ||
Contractual Amount | |||
Other noninterest-bearing liabilities: | |||
Loan commitments | 10,228,615 | 10,678,485 | |
Standby and other commitments | $ 464,600 | $ 420,728 | |
[1] | June 30, 2018 and December 31, 2017 include $8.9 million and $11.7 million, respectively, of held-for-sale consumer mortgage loans secured by residential real estate in process of foreclosure. |