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Loans | 3 Months Ended
--- | ---
Mar. 31, 2014
Loans [Abstract] |
Loans | Note 4 – Loans
The following table provides the balance of loans by portfolio segment as of March 31, 2014 and 2013, and December 31, 2013:
|  | March 31 |  | December 31 |
(Dollars in thousands) | 2014 |  | 2013 |  | 2013 |
Commercial: |  |  |  |  |  |  |  |  |
| Commercial, financial, and industrial | $ | 7,752,995 |  | $ | 8,091,186 |  | $ | 7,923,576 |
| Commercial real estate |  | 1,152,418 |  |  | 1,115,879 |  |  | 1,133,279 |
Retail: |  |  |  |  |  |  |  |  |
| Consumer real estate (a) |  | 5,258,014 |  |  | 5,590,180 |  |  | 5,333,371 |
| Permanent mortgage (b) |  | 622,242 |  |  | 793,282 |  |  | 662,242 |
| Credit card & other |  | 333,792 |  |  | 299,143 |  |  | 336,606 |
Loans, net of unearned income | $ | 15,119,461 |  | $ | 15,889,670 |  | $ | 15,389,074 |
Allowance for loan losses |  | 247,246 |  |  | 265,218 |  |  | 253,809 |
Total net loans | $ | 14,872,215 |  | $ | 15,624,452 |  | $ | 15,135,265 |
Balances as of March 31, 201 4 and 2013, and December 31, 2013 include $86.7 million, $386.4 million, and $333.8 million of restricted and secured real estate loans, respectively. See Note 14 - Variable Interest Entities for additional information. Balances as of March 31, 2013, and December 31, 2013 include $13.0 million and $11.2 million of restricted and secured real estate loans, respectively. See Note 14 - Variable Interest Entities for additional information. C OMPONENTS OF THE LOAN PORTFOLIO T he loan portfolio is disaggregated into segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally determined based on the initial measurement attribute (i.e., amortized cost or purchased credit impaired), risk characteristics of the loan, and FHN's method for monitoring and assessing credit risk. Commercial loan portfolio segments include commercial, financial and industrial ("C&I") and commercial real estate ("CRE"). Commercial classes within C&I include general C&I, loans to mortgage companies, the trust preferred loans ("TRUPs") (i.e. long-term unsecured loans to bank and insurance - related businesses) portfolio and purchase d credit impaired ("PCI") loans. Loans to mortgage companies includes commercial lines of credit to qualified mortgage companies exclusivel y for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors. Commercial classes within commercial real estate include income CRE, residential CRE and PCI loans. Retail loan portfolio segments include consumer real estate, permanent mortgage, and the credit card and other portfolio. Retail classes include HELOC, real estate ("R/E") installment and PCI loans within the consumer real estate segment, permanent mortgage (which is both a segment and a class), and credit card and other. Concentrations FHN has a concentration of loans secured by residential real estate (39 percent of total loans), the majority of which is in the consumer real estate portfolio (35 percent of total loans). Loans to finance and insurance companies total $1.6 billion (21 percent of the C&I portfolio, or 11 percent of the total loans). FHN had loans to mortgage companies, commercial lines of credit to qualified mortgage companies exclusively for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors, totaling $0.7 billion (9 percent of the C&I portfolio, or 5 percent of total loans) as of March 31, 2014. As a result, 30 percent of the C&I category was sensitive to impacts on the financial services industry. Acquisition On June 7, 2013, FHN acquired substantially all of the assets and liabilities of MNB from the FDIC. The acquisition included approximately $2 49 million of loans. These loans were initially recorded at fair value which incorporates expected credit losses, among other things, in accordance with ASC 805 resulting in no carryover of allowance for loan loss from the acquiree. At acquisition, FHN designated certain loans as purchase d credit impaired (see discussion below) with the remaining loans accounted for under ASC 310-20, "Nonrefundable Fees and Other Costs". For loans accounted for under ASC 310-20, t he difference between the loans' book value to MNB and the estimated fair value at the time of the acquisition will be accreted back into interest income over the remaining contractual life and the subsequent accounting and reporting will be similar to FHN's originated loan portfolio. Purchase d Credit Impaired Loans A SC 310-30, "Accounting for Certain Loans or Debt Securities Acquired in a Transfer," provides guidance for acquired loans that have experienced deterioration of credit quality between origination and the time of acquisition and for which the timely collect ion of the interest and principal is no longer reasonably assured ("PCI loans"). FHN considered several factors when determining whether a loan met the definition of a PCI loan at the time of acquisition including accrual statu s, loan grade, delinquency trends, prior partial charge-offs, as well as both originated versus refreshed credit scores and ratios when available. PCI loans we re initially recorded at fair value which was estimated by discounting expected cash flows at acquisition date. The expected cash flow includes all contractually expected amounts (includ ing interest) and incorporates an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools is based on common risk characteristics that include similar credit risk or risk ratings, and o ne or more predominant risk characteristics. Generally, FHN pooled loans with smaller balances and common internal loan grades and portfolio types. Subsequent to the initial accounting at acquisition, each PCI pool is accounted for as a single unit. Accretable yield is the excess of cash flows expected at acquisition over the initial investment in the loan and is recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference is the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimates expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement will result in reversal of any nonaccretable difference (or allowance for loan losses to the extent any has been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows will result in an increase in the allowance for loan losses through increased provision expense. FHN does not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that have been pooled and subsequently modified will not be reported as troubled debt restructuring s since the pool is the unit of m easurement.
The following table presents a rollforward of the accretable yield for the three months ended March 31, 2014: |
| Three Months Ended |
(Dollars in thousands) | March 31, 2014 |
Balance, beginning of period | $ | 13,490 |
Additions |  | 111 |
Accretion |  | (1,657) |
Adjustment for payoffs |  | (233) |
Adjustment for charge-offs |  | (64) |
Increase in accretable yield (a) |  | 4,181 |
Balance, end of period | $ | 15,828 |
Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows.
At March 31, 2014, the ALLL related to PCI loans was $1.9 million and loan loss provision recognized during the three months ended March 31, 2014 was $1.2 million. The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of March 31, 2014 and December 31, 2013: |
| March 31, 2014 |  | December 31, 2013 |
(Dollars in thousands) | Carrying value |  | Unpaid balance |  | Carrying value |  | Unpaid balance |
Commercial, financial and industrial | $ | 6,693 |  | $ | 8,503 |  | $ | 7,077 |  | $ | 9,169 |
Commercial real estate |  | 37,067 |  |  | 52,690 |  |  | 38,042 |  |  | 53,648 |
Consumer real estate |  | 693 |  |  | 973 |  |  | 878 |  |  | 1,291 |
Credit card and other |  | - |  |  | - |  |  | 12 |  |  | 21 |
Total | $ | 44,453 |  | $ | 62,166 |  | $ | 46,009 |  | $ | 64,129 |
Impaired Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following tables provide information at March 31, 2014 and 2013, by class related to individually impaired loans and consumer TDR's. Recorded investment is defined as the amount of the investment in a loan, before valuation allowance but which does reflect any direct write-down of the investment. For purposes of this disclosure, PCI loans and LOCOM have been excluded. |
|  | March 31, 2014 |
|  |  |  |  | Unpaid |  |  |  |  | Average |  | Interest |
|  | Recorded | Principal | Related |  | Recorded |  | Income |
(Dollars in thousands) | Investment | Balance | Allowance |  | Investment |  | Recognized |
Impaired loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 14,130 |  | $ | 15,648 |  | $ | - |  | $ | 20,378 |  | $ | - |
| TRUPs |  | 0 |  |  | 0 |  |  | - |  |  | 3,250 |  |  | - |
| Income CRE |  | 8,500 |  |  | 16,529 |  |  | - |  |  | 8,512 |  |  | - |
| Total | $ | 22,630 |  | $ | 32,177 |  | $ | - |  | $ | 32,140 |  | $ | - |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC (a) | $ | 16,151 |  | $ | 37,723 |  | $ | - |  | $ | 16,488 |  | $ | - |
| R/E installment loans (a) |  | 10,400 |  |  | 13,360 |  |  | - |  |  | 10,705 |  |  | - |
| Permanent mortgage (a) |  | 7,854 |  |  | 11,078 |  |  | - |  |  | 8,157 |  |  | - |
| Total | $ | 34,405 |  | $ | 62,161 |  | $ | - |  | $ | 35,350 |  | $ | - |
Impaired loans with related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 27,723 |  | $ | 33,911 |  | $ | 1,201 |  | $ | 22,232 |  | $ | 79 |
| TRUPs |  | 13,550 |  |  | 13,550 |  |  | 3,986 |  |  | 23,580 |  |  | - |
| Income CRE |  | 11,821 |  |  | 13,540 |  |  | 783 |  |  | 12,097 |  |  | 102 |
| Residential CRE |  | 6,380 |  |  | 11,675 |  |  | 712 |  |  | 6,647 |  |  | 63 |
| Total | $ | 59,474 |  | $ | 72,676 |  | $ | 6,682 |  | $ | 64,556 |  | $ | 244 |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC | $ | 73,287 |  | $ | 74,730 |  | $ | 17,080 |  | $ | 71,792 |  | $ | 434 |
| R/E installment loans |  | 73,738 |  |  | 74,645 |  |  | 26,573 |  |  | 73,015 |  |  | 269 |
| Permanent mortgage |  | 113,989 |  |  | 127,958 |  |  | 19,211 |  |  | 113,493 |  |  | 723 |
| Credit card & other |  | 772 |  |  | 772 |  |  | 236 |  |  | 658 |  |  | 11 |
| Total | $ | 261,786 |  | $ | 278,105 |  | $ | 63,100 |  | $ | 258,958 |  | $ | 1,437 |
Total commercial | $ | 82,104 |  | $ | 104,853 |  | $ | 6,682 |  | $ | 96,696 |  | $ | 244 |
Total retail | $ | 296,191 |  | $ | 340,266 |  | $ | 63,100 |  | $ | 294,308 |  | $ | 1,437 |
Total impaired loans | $ | 378,295 |  | $ | 445,119 |  | $ | 69,782 |  | $ | 391,004 |  | $ | 1,681 |
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance.
|  | March 31, 2013 |
|  |  |  |  | Unpaid |  |  |  |  | Average |  | Interest |
|  | Recorded | Principal | Related | Recorded | Income |
(Dollars in thousands) | Investment | Balance | Allowance | Investment | Recognized |
Impaired loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 60,849 |  | $ | 73,873 |  | $ | - |  | $ | 60,581 |  | $ | 80 |
| TRUPs |  | 10,000 |  |  | 10,000 |  |  | - |  |  | 17,000 |  |  | - |
| Income CRE |  | 28,136 |  |  | 40,034 |  |  | - |  |  | 30,968 |  |  | 75 |
| Residential CRE |  | 14,294 |  |  | 21,507 |  |  | - |  |  | 14,467 |  |  | 63 |
| Total | $ | 113,279 |  | $ | 145,414 |  | $ | - |  | $ | 123,016 |  | $ | 218 |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC (a) | $ | 21,058 |  | $ | 41,036 |  | $ | - |  | $ | 20,698 |  | $ | - |
| R/E installment loans (a) |  | 13,329 |  |  | 16,143 |  |  | - |  |  | 11,825 |  |  | - |
| Permanent mortgage (a) |  | 10,771 |  |  | 14,634 |  |  | - |  |  | 9,991 |  |  | - |
| Total | $ | 45,158 |  | $ | 71,813 |  | $ | - |  | $ | 42,514 |  | $ | - |
Impaired loans with related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 3,754 |  | $ | 3,754 |  | $ | 1,159 |  | $ | 7,027 |  | $ | - |
| TRUPs |  | 40,200 |  |  | 40,200 |  |  | 14,304 |  |  | 36,950 |  |  | - |
| Income CRE |  | 1,071 |  |  | 1,071 |  |  | 156 |  |  | 1,075 |  |  | 11 |
| Total | $ | 45,025 |  | $ | 45,025 |  | $ | 15,619 |  | $ | 45,052 |  | $ | 11 |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC | $ | 63,066 |  | $ | 63,474 |  | $ | 16,559 |  | $ | 61,358 |  | $ | 426 |
| R/E installment loans |  | 68,474 |  |  | 69,136 |  |  | 24,219 |  |  | 69,082 |  |  | 285 |
| Permanent mortgage |  | 109,283 |  |  | 121,993 |  |  | 22,239 |  |  | 116,487 |  |  | 683 |
| Credit card & other |  | 747 |  |  | 747 |  |  | 231 |  |  | 782 |  |  | 8 |
| Total | $ | 241,570 |  | $ | 255,350 |  | $ | 63,248 |  | $ | 247,709 |  | $ | 1,402 |
Total commercial | $ | 158,304 |  | $ | 190,439 |  | $ | 15,619 |  | $ | 168,068 |  | $ | 229 |
Total retail | $ | 286,728 |  | $ | 327,163 |  | $ | 63,248 |  | $ | 290,223 |  | $ | 1,402 |
Total impaired loans | $ | 445,032 |  | $ | 517,602 |  | $ | 78,867 |  | $ | 458,291 |  | $ | 1,631 |
Certain previously reported amounts have been reclassified to agree with current presentation. |
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. Asset Quality Indicators FHN employs a dual grade commercial risk grading methodology to assign an estimate for the probability of default ("PD") and the loss given default ("LGD") for each commercial loan using factors specific to various industry, portfolio, or product segments that result in a rank ordering of risk and the assignment of grades PD 1 to PD 16. Each PD grade corresponds to an estimated one-year default probability percentage; a PD 1 has the lowest expected default probability, and probabilities increase as grades progress down the scale. PD 1 through PD 12 are “pass” grades. P D grades 13-16 correspond to the regulatory-defined categories of special mention (13), substandard (14), doubtful (15), and loss (16). Pass loan grades are required to be reassessed annually or earlier whenever there has been a material change in the financial condition of the borrower or risk characteristics of the relationship. All commercial loans over $1 million and certain commercial loans over $500,000 that are graded 13 or worse are reassessed on a quarterly basis. LGD grades are assigned based on a scale of 1-12 and represent FHN's expected recovery based on collateral type in the event a loan default s. See Note 5 - Allowance for Loan Losses for further discussion on the credit grading system.
The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of March 31, 2014 and 2013: |  |
| March 31, 2014 |  |
|  |  |  | Loans to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Allowance |  |
| General |  | Mortgage |  |  |  |  | Income | Residential |  |  |  | Percentage |  |  | for Loan |
(Dollars in thousands) | C&I |  | Companies |  | TRUPS (a) |  | CRE | CRE | Total |  | of Total |  |  | Losses |
PD Grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 | $ | 233,362 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 233,362 |  |  | 3 | % |  | $ | 90 |  |
2 |  | 218,944 |  |  | - |  |  | - |  |  | 1,719 |  |  | - |  |  | 220,663 |  |  | 2 |  |  |  | 88 |  |
3 |  | 225,715 |  |  | - |  |  | - |  |  | 4,639 |  |  | 82 |  |  | 230,436 |  |  | 3 |  |  |  | 199 |  |
4 |  | 367,591 |  |  | - |  |  | - |  |  | 13,148 |  |  | 215 |  |  | 380,954 |  |  | 4 |  |  |  | 487 |  |
5 |  | 778,522 |  |  | - |  |  | - |  |  | 96,447 |  |  | 5,835 |  |  | 880,804 |  |  | 10 |  |  |  | 2,348 |  |
6 |  | 947,462 |  |  | 69,207 |  |  | - |  |  | 196,101 |  |  | 5,815 |  |  | 1,218,585 |  |  | 14 |  |  |  | 1,743 |  |
7 |  | 1,081,770 |  |  | 159,207 |  |  | - |  |  | 249,317 |  |  | 6,413 |  |  | 1,496,707 |  |  | 16 |  |  |  | 2,698 |  |
8 |  | 936,597 |  |  | 301,197 |  |  | - |  |  | 224,339 |  |  | 52 |  |  | 1,462,185 |  |  | 16 |  |  |  | 4,053 |  |
9 |  | 662,311 |  |  | 115,936 |  |  | - |  |  | 90,336 |  |  | 1,379 |  |  | 869,962 |  |  | 10 |  |  |  | 7,392 |  |
10 |  | 391,737 |  |  | 58,205 |  |  | - |  |  | 61,584 |  |  | 1,834 |  |  | 513,360 |  |  | 6 |  |  |  | 6,180 |  |
11 |  | 392,249 |  |  | 5,659 |  |  | - |  |  | 30,402 |  |  | 1,816 |  |  | 430,126 |  |  | 5 |  |  |  | 9,704 |  |
12 |  | 119,196 |  |  | - |  |  | - |  |  | 33,142 |  |  | 1,732 |  |  | 154,070 |  |  | 2 |  |  |  | 2,403 |  |
13 |  | 152,035 |  |  | - |  |  | 326,158 |  |  | 12,262 |  |  | 2,180 |  |  | 492,635 |  |  | 6 |  |  |  | 7,968 |  |
14,15,16 |  | 138,680 |  |  | 141 |  |  | 9,385 |  |  | 39,257 |  |  | 6,783 |  |  | 194,246 |  |  | 2 |  |  |  | 34,332 |  |
Collectively evaluated for impairment |  | 6,646,171 |  |  | 709,552 |  |  | 335,543 |  |  | 1,052,693 |  |  | 34,136 |  |  | 8,778,095 |  |  | 99 |  |  |  | 79,685 |  |
Individually evaluated for impairment |  | 41,853 |  |  | - |  |  | 13,115 |  |  | 20,321 |  |  | 6,380 |  |  | 81,669 |  |  | 1 |  |  |  | 6,682 |  |
Total commercial loans | $ | 6,688,024 |  | $ | 709,552 |  | $ | 348,658 |  | $ | 1,073,014 |  | $ | 40,516 |  | $ | 8,859,764 | (b) |  | 100 | % |  | $ | 86,367 | (c) |
| March 31, 2013 |
|  |  |  | Loans to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Allowance |
| General | Mortgage |  |  | Income | Residential |  |  | Percent of |  | for Loan
(Dollars in thousands) | C&I | Companies | TRUPS (a) | CRE | CRE | Total | Total |  | Losses
PD Grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1 | $ | 169,342 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 169,342 |  | 2 | % |  | $ | 51 |
2 |  | 172,481 |  |  | - |  |  | - |  |  | 2,513 |  |  | - |  |  | 174,994 |  | 2 |  |  |  | 82 |
3 |  | 164,654 |  |  | - |  |  | - |  |  | 6,241 |  |  | - |  |  | 170,895 |  | 2 |  |  |  | 101 |
4 |  | 309,242 |  |  | - |  |  | - |  |  | 6,188 |  |  | 216 |  |  | 315,646 |  | 3 |  |  |  | 421 |
5 |  | 672,509 |  |  | - |  |  | - |  |  | 34,672 |  |  | 275 |  |  | 707,456 |  | 8 |  |  |  | 1,284 |
6 |  | 939,686 |  |  | 121,538 |  |  | - |  |  | 148,174 |  |  | 7,308 |  |  | 1,216,706 |  | 13 |  |  |  | 3,206 |
7 |  | 1,012,012 |  |  | 329,484 |  |  | - |  |  | 177,656 |  |  | 1,877 |  |  | 1,521,029 |  | 17 |  |  |  | 3,397 |
8 |  | 1,015,430 |  |  | 411,119 |  |  | - |  |  | 237,433 |  |  | 257 |  |  | 1,664,239 |  | 18 |  |  |  | 5,314 |
9 |  | 641,720 |  |  | 227,410 |  |  | - |  |  | 123,351 |  |  | 765 |  |  | 993,246 |  | 11 |  |  |  | 8,851 |
10 |  | 461,381 |  |  | 40,177 |  |  | - |  |  | 106,948 |  |  | 1,053 |  |  | 609,559 |  | 7 |  |  |  | 7,805 |
11 |  | 440,142 |  |  | - |  |  | - |  |  | 54,810 |  |  | 1,801 |  |  | 496,753 |  | 5 |  |  |  | 9,837 |
12 |  | 168,677 |  |  | - |  |  | - |  |  | 22,233 |  |  | 188 |  |  | 191,098 |  | 2 |  |  |  | 2,808 |
13 |  | 114,717 |  |  | - |  |  | 337,725 |  |  | 36,729 |  |  | 10,585 |  |  | 499,756 |  | 5 |  |  |  | 8,371 |
14,15,16 |  | 227,018 |  |  | 351 |  |  | 3,335 |  |  | 76,433 |  |  | 14,672 |  |  | 321,809 |  | 3 |  |  |  | 34,096 |
Collectively evaluated for impairment |  | 6,509,011 |  |  | 1,130,079 |  |  | 341,060 |  |  | 1,033,381 |  |  | 38,997 |  |  | 9,052,528 |  | 98 |  |  |  | 85,624 |
Individually evaluated for impairment |  | 64,603 |  |  | - |  |  | 46,433 |  |  | 29,207 |  |  | 14,294 |  |  | 154,537 |  | 2 |  |  |  | 15,619 |
Total commercial loans | $ | 6,573,614 |  | $ | 1,130,079 |  | $ | 387,493 |  | $ | 1,062,588 |  | $ | 53,291 |  | $ | 9,207,065 |  | 100 | % |  | $ | 101,243 |
Balances as of March 31, 2014 and 2013, presented net of $26.6 million and $30.9 million, respectively, in lower of cost or market (“LOCOM”) valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade is "13". Balance as of March 31, 2014, exclude s PCI loans amounting to $45.6 million. Allowance excludes $1.9 million related to PCI loans as of March 31, 2014. The retail portfolio is comprised primarily of smaller-balance loans which are very similar in nature in that most are standard products and are backed by residential real estate. Because of the similarities of retail loan-types, FHN is able to utilize the Fair Isaac Corporation (“FICO”) score, among other attributes, to assess the quality of consumer borrowers. FICO scores are refreshed on a quarterly basis in an attempt to reflect the recent risk profile of the borrowers. Accruing delinquen cy amounts are indicators of asset quality within the credit card and other retail portfolio.
The following tables reflect period end balances and average FICO scores by origination vintage for the HELOC, real estate installment, and permanent mortgage classes of loans as of March 31, 2014 and 2013:
HELOC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | March 31, 2014 |  | March 31, 2013 |
|  |  |  |  | Average |  | Average |  |  |  |  | Average |  | Average |
(Dollars in thousands) | Period End |  | Origination | Refreshed | Period End | Origination | Refreshed
Origination Vintage | Balance |  | FICO | FICO | Balance | FICO | FICO
pre-2003 | $ | 73,926 |  |  | 710 |  |  | 703 |  | $ | 108,054 |  |  | 714 |  |  | 705 |
2003 |  | 130,144 |  |  | 723 |  |  | 709 |  |  | 208,233 |  |  | 732 |  |  | 723 |
2004 |  | 375,252 |  |  | 726 |  |  | 715 |  |  | 469,608 |  |  | 727 |  |  | 717 |
2005 |  | 517,957 |  |  | 732 |  |  | 721 |  |  | 592,322 |  |  | 734 |  |  | 719 |
2006 |  | 375,022 |  |  | 740 |  |  | 727 |  |  | 437,889 |  |  | 740 |  |  | 725 |
2007 |  | 396,409 |  |  | 743 |  |  | 728 |  |  | 460,916 |  |  | 745 |  |  | 728 |
2008 |  | 217,360 |  |  | 753 |  |  | 748 |  |  | 250,427 |  |  | 754 |  |  | 747 |
2009 |  | 113,703 |  |  | 751 |  |  | 746 |  |  | 134,294 |  |  | 752 |  |  | 745 |
2010 |  | 110,958 |  |  | 753 |  |  | 748 |  |  | 133,917 |  |  | 753 |  |  | 749 |
2011 |  | 110,815 |  |  | 758 |  |  | 754 |  |  | 129,303 |  |  | 759 |  |  | 756 |
2012 |  | 133,618 |  |  | 759 |  |  | 759 |  |  | 155,758 |  |  | 760 |  |  | 758 |
2013 |  | 169,429 |  |  | 760 |  |  | 757 |  |  | 27,853 |  |  | 756 |  |  | 754 |
2014 |  | 23,224 |  |  | 756 |  |  | 755 |  |  | - |  |  | - |  |  | - |
Total | $ | 2,747,817 |  |  | 741 |  |  | 731 |  | $ | 3,108,574 |  |  | 740 |  |  | 729 |
R/E Installment Loans | March 31, 2014 | March 31, 2013
|  |  |  |  | Average |  | Average |  |  |  |  | Average |  | Average |
(Dollars in thousands) | Period End |  | Origination |  | Refreshed |  | Period End |  | Origination |  | Refreshed |
Origination Vintage | Balance |  | FICO |  | FICO |  | Balance |  | FICO |  | FICO |
pre-2003 | $ | 21,069 |  |  | 681 |  |  | 687 |  | $ | 33,454 |  |  | 685 |  |  | 682 |
2003 |  | 68,747 |  |  | 715 |  |  | 724 |  |  | 101,107 |  |  | 719 |  |  | 727 |
2004 |  | 51,187 |  |  | 701 |  |  | 699 |  |  | 66,809 |  |  | 703 |  |  | 701 |
2005 |  | 150,669 |  |  | 716 |  |  | 711 |  |  | 197,153 |  |  | 717 |  |  | 711 |
2006 |  | 165,515 |  |  | 715 |  |  | 700 |  |  | 209,755 |  |  | 718 |  |  | 703 |
2007 |  | 236,727 |  |  | 724 |  |  | 708 |  |  | 299,659 |  |  | 726 |  |  | 711 |
2008 |  | 80,067 |  |  | 722 |  |  | 718 |  |  | 104,651 |  |  | 725 |  |  | 716 |
2009 |  | 37,048 |  |  | 742 |  |  | 733 |  |  | 53,302 |  |  | 746 |  |  | 744 |
2010 |  | 120,128 |  |  | 748 |  |  | 754 |  |  | 146,048 |  |  | 746 |  |  | 750 |
2011 |  | 323,992 |  |  | 760 |  |  | 759 |  |  | 390,546 |  |  | 760 |  |  | 761 |
2012 |  | 675,368 |  |  | 764 |  |  | 765 |  |  | 741,406 |  |  | 764 |  |  | 762 |
2013 |  | 509,103 |  |  | 757 |  |  | 753 |  |  | 137,716 |  |  | 761 |  |  | 759 |
2014 |  | 70,577 |  |  | 756 |  |  | 750 |  |  | - |  |  | - |  |  | - |
Total | $ | 2,510,197 |  |  | 746 |  |  | 743 |  | $ | 2,481,606 |  |  | 744 |  |  | 739 |
Permanent Mortgage | March 31, 2014 | March 31, 2013
|  |  |  |  | Average |  | Average |  |  |  |  | Average |  | Average |
(Dollars in thousands) | Period End | Origination | Refreshed | Period End | Origination | Refreshed
Origination Vintage | Balance | FICO | FICO | Balance | FICO | FICO
pre-2004 | $ | 178,765 |  |  | 725 |  |  | 728 |  | $ | 249,523 |  |  | 726 |  |  | 727 |
2004 |  | 21,398 |  |  | 712 |  |  | 691 |  |  | 28,662 |  |  | 714 |  |  | 691 |
2005 |  | 38,586 |  |  | 737 |  |  | 715 |  |  | 47,382 |  |  | 739 |  |  | 713 |
2006 |  | 72,413 |  |  | 728 |  |  | 706 |  |  | 89,179 |  |  | 732 |  |  | 712 |
2007 |  | 213,580 |  |  | 733 |  |  | 711 |  |  | 260,136 |  |  | 734 |  |  | 711 |
2008 |  | 97,500 |  |  | 741 |  |  | 712 |  |  | 118,400 |  |  | 742 |  |  | 712 |
Total | $ | 622,242 |  |  | 730 |  |  | 712 |  | $ | 793,282 |  |  | 731 |  |  | 711 |
The following table reflects accruing delinquency amounts for the credit card and other portfolio classes as of March 31:
| Credit Card |  | Other |
(Dollars in thousands) | 2014 |  | 2013 |  | 2014 |  | 2013 |
Accruing delinquent balances: |  |  |  |  |  |  |  |  |  |  |  |
30-89 days past due | $ | 1,810 |  | $ | 1,430 |  | $ | 761 |  | $ | 723 |
90+ days past due |  | 1,622 |  |  | 1,483 |  |  | 130 |  |  | 90 |
Total | $ | 3,432 |  | $ | 2,913 |  | $ | 891 |  | $ | 813 |
Nonaccrual and Past Due Loa ns For all portfolio segments and classes other than PCI loans, loans are placed on nonaccrual status if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance, or on a case-by-case basis if FHN continues to receive payments, but there are atypical loan structures or other borrower-specific issues. PCI loans are classified in the table below as accruing. FHN has a meaningful portion of loans that are classified as nonaccrual even though loan payments are being received; these include residential real estate loans where the borrower has been discharged of personal obligation through bankruptcy, and also current second lien loans behind first lien loans with performance issues. The determination of whether a TDR is placed on nonaccrual status generally follows the same internal policies and procedures as other portfolio loans. However, FHN will typically place a consumer real estate loan on nonaccrual status if it is 30 or more days delinquent at the time of modification and is determined to be a TDR, except for residential real estate secured loans discharged in bankruptcy (“discharged bankruptcies”) that are placed on nonaccrual regardless of delinquency status. Current s tand-alone second liens are placed on nonaccrual status if they are junior to first liens that are 90 days or more past due or the first lien has been modified into a TDR.
The following table reflects accruing and non-accruing loans by class on March 31, 2014: |
|  | Accruing |  | Non-Accruing |  |  |
|  |  |  |  | 30-89 |  | 90+ |  |  |  |  |  |  |  | 30-89 |  | 90+ |  | Total |  |  |  |
|  |  |  |  | Days |  | Days |  | Total |  |  |  |  | Days |  | Days |  | Non- |  | Total |
(Dollars in thousands) | Current |  | Past Due |  | Past Due |  | Accruing |  | Current |  | Past Due |  | Past Due |  | Accruing |  | Loans |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General C&I | $ | 6,629,412 |  | $ | 19,049 |  | $ | 452 |  | $ | 6,648,913 |  | $ | 16,332 |  | $ | 3,341 |  | $ | 19,438 |  | $ | 39,111 |  | $ | 6,688,024 |
Loans to mortgage companies |  | 709,339 |  |  | 72 |  |  | - |  |  | 709,411 |  |  | - |  |  | - |  |  | 141 |  |  | 141 |  |  | 709,552 |
TRUPs (a) |  | 335,543 |  |  | - |  |  | - |  |  | 335,543 |  |  | - |  |  | - |  |  | 13,115 |  |  | 13,115 |  |  | 348,658 |
Purchased credit impaired loans |  | 5,291 |  |  | - |  |  | 1,470 |  |  | 6,761 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 6,761 |
Total commercial (C&I) |  | 7,679,585 |  |  | 19,121 |  |  | 1,922 |  |  | 7,700,628 |  |  | 16,332 |  |  | 3,341 |  |  | 32,694 |  |  | 52,367 |  |  | 7,752,995 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income CRE |  | 1,049,843 |  |  | 10,955 |  |  | - |  |  | 1,060,798 |  |  | 1,814 |  |  | 330 |  |  | 10,072 |  |  | 12,216 |  |  | 1,073,014 |
Residential CRE |  | 37,516 |  |  | 282 |  |  | - |  |  | 37,798 |  |  | - |  |  | - |  |  | 2,718 |  |  | 2,718 |  |  | 40,516 |
Purchased credit impaired loans |  | 31,515 |  |  | 5,830 |  |  | 1,543 |  |  | 38,888 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 38,888 |
Total commercial real estate |  | 1,118,874 |  |  | 17,067 |  |  | 1,543 |  |  | 1,137,484 |  |  | 1,814 |  |  | 330 |  |  | 12,790 |  |  | 14,934 |  |  | 1,152,418 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC |  | 2,624,763 |  |  | 23,734 |  |  | 12,459 |  |  | 2,660,956 |  |  | 67,361 |  |  | 5,395 |  |  | 14,105 |  |  | 86,861 |  |  | 2,747,817 |
R/E installment loans |  | 2,447,448 |  |  | 10,812 |  |  | 6,074 |  |  | 2,464,334 |  |  | 35,069 |  |  | 3,486 |  |  | 6,605 |  |  | 45,160 |  |  | 2,509,494 |
Purchased credit impaired loans |  | 703 |  |  | - |  |  | - |  |  | 703 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 703 |
Total consumer real estate |  | 5,072,914 |  |  | 34,546 |  |  | 18,533 |  |  | 5,125,993 |  |  | 102,430 |  |  | 8,881 |  |  | 20,710 |  |  | 132,021 |  |  | 5,258,014 |
Permanent mortgage |  | 573,095 |  |  | 6,101 |  |  | 2,845 |  |  | 582,041 |  |  | 15,924 |  |  | 2,048 |  |  | 22,229 |  |  | 40,201 |  |  | 622,242 |
Credit card & other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit card |  | 180,011 |  |  | 1,810 |  |  | 1,622 |  |  | 183,443 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 183,443 |
Other |  | 148,062 |  |  | 761 |  |  | 130 |  |  | 148,953 |  |  | 1,396 |  |  | - |  |  | - |  |  | 1,396 |  |  | 150,349 |
Total credit card & other |  | 328,073 |  |  | 2,571 |  |  | 1,752 |  |  | 332,396 |  |  | 1,396 |  |  | - |  |  | - |  |  | 1,396 |  |  | 333,792 |
Total loans, net of unearned | $ | 14,772,541 |  | $ | 79,406 |  | $ | 26,595 |  | $ | 14,878,542 |  | $ | 137,896 |  | $ | 14,600 |  | $ | 88,423 |  | $ | 240,919 |  | $ | 15,119,461 |
Total TRUPs i nclude s LOCOM valuation allowance of $26.6 millio n.
The following table reflects accruing and non-accruing loans by class on March 31, 2013: |
| Accruing |  | Non-Accruing |  |  |
|  |  |  | 30-89 |  | 90+ |  |  |  |  |  |  |  | 30-89 |  | 90+ |  | Total |  |  |  |
|  |  |  | Days |  | Days |  | Total |  |  |  |  | Days |  | Days |  | Non- |  | Total |
(Dollars in thousands) | Current | Past Due | Past Due | Accruing | Current | Past Due | Past Due | Accruing | Loans
Commercial (C&I): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General C&I | $ | 6,493,628 |  | $ | 13,177 |  | $ | 428 |  | $ | 6,507,233 |  | $ | 22,439 |  | $ | 9,694 |  | $ | 34,248 |  | $ | 66,381 |  | $ | 6,573,614 |
Loans to mortgage companies |  | 1,129,728 |  |  | - |  |  | - |  |  | 1,129,728 |  |  | - |  |  | - |  |  | 351 |  |  | 351 |  |  | 1,130,079 |
TRUPs (a) |  | 341,060 |  |  | - |  |  | - |  |  | 341,060 |  |  | - |  |  | - |  |  | 46,433 |  |  | 46,433 |  |  | 387,493 |
Total commercial (C&I) |  | 7,964,416 |  |  | 13,177 |  |  | 428 |  |  | 7,978,021 |  |  | 22,439 |  |  | 9,694 |  |  | 81,032 |  |  | 113,165 |  |  | 8,091,186 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income CRE |  | 1,031,037 |  |  | 4,679 |  |  | - |  |  | 1,035,716 |  |  | 5,643 |  |  | 1,705 |  |  | 19,524 |  |  | 26,872 |  |  | 1,062,588 |
Residential CRE |  | 41,576 |  |  | - |  |  | - |  |  | 41,576 |  |  | 1,383 |  |  | - |  |  | 10,332 |  |  | 11,715 |  |  | 53,291 |
Total commercial real estate |  | 1,072,613 |  |  | 4,679 |  |  | - |  |  | 1,077,292 |  |  | 7,026 |  |  | 1,705 |  |  | 29,856 |  |  | 38,587 |  |  | 1,115,879 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC |  | 3,022,483 |  |  | 28,914 |  |  | 18,135 |  |  | 3,069,532 |  |  | 28,072 |  |  | 1,390 |  |  | 9,580 |  |  | 39,042 |  |  | 3,108,574 |
R/E installment loans |  | 2,432,315 |  |  | 11,977 |  |  | 8,456 |  |  | 2,452,748 |  |  | 19,692 |  |  | 2,685 |  |  | 6,481 |  |  | 28,858 |  |  | 2,481,606 |
Total consumer real estate |  | 5,454,798 |  |  | 40,891 |  |  | 26,591 |  |  | 5,522,280 |  |  | 47,764 |  |  | 4,075 |  |  | 16,061 |  |  | 67,900 |  |  | 5,590,180 |
Permanent mortgage |  | 741,500 |  |  | 6,025 |  |  | 11,126 |  |  | 758,651 |  |  | 12,866 |  |  | 1,266 |  |  | 20,499 |  |  | 34,631 |  |  | 793,282 |
Credit card & other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit card |  | 178,310 |  |  | 1,430 |  |  | 1,483 |  |  | 181,223 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 181,223 |
Other |  | 115,390 |  |  | 723 |  |  | 90 |  |  | 116,203 |  |  | 1,717 |  |  | - |  |  | - |  |  | 1,717 |  |  | 117,920 |
Total credit card & other |  | 293,700 |  |  | 2,153 |  |  | 1,573 |  |  | 297,426 |  |  | 1,717 |  |  | - |  |  | - |  |  | 1,717 |  |  | 299,143 |
Total loans, net of unearned | $ | 15,527,027 |  | $ | 66,925 |  | $ | 39,718 |  | $ | 15,633,670 |  | $ | 91,812 |  | $ | 16,740 |  | $ | 147,448 |  | $ | 256,000 |  | $ | 15,889,670 |
Total TRUPs i nclu des LOCOM valuation allowance of $30.9 million. Troubled Debt Restructurings As part of FHN's ongoing risk management practices, FHN attempts to work with borrowers when necessary to extend or modify loan terms to better align with their current ability to repay. Extensions and modifications to loans are made in accordance with internal policies and guidelines which conform to regulatory guidance. Each occurrence is unique to the borrower and is evaluated separately. FHN considers regulatory guidelines when restructuring loans to ensure that prudent lending practices are followed. As such, qualification criteria and payment terms consider the borrower's current and prospective ability to comply with the modified terms of the loan. A modification is classified as a TDR if the borrower is experiencing financial difficulty and it is determined that FHN has granted a concession to the borrower. FHN may determine that a borrower is experiencing financial difficulty if the borrower is currently in default on any of its debt, or if it is probable that a borrower may default in the foreseeable future. Many aspects of a borrower's financial situation are assessed when determining whether they are experiencing financial difficulty, particularly as it relates to commercial borrowers due to the complex nature of loan structures, business/industry risk, and borrower/guarantor structures. Concessions could include reductions of interest rates, extension of the maturity date at a rate lower than current market rate for a new loan with similar risk, reduction of accrued interest, or principal forgiveness. When evaluating whether a concession has been granted, FHN also considers whether the borrower has provided additional collateral or guarantors, among other things, and whether such additions adequately compensate FHN for the restructured terms. The assessments of whether a borrower is experiencing (or is likely to experience) financial difficulty and whether a concession has been granted is subjective in nature and management's judgment is required when determining whether a modification is classified as a TDR. For all classes within the commercial portfolio segment, TDRs are typically modified through forbearance agreements (generally 6 to 12 months). Forbearance agreements could include reduced interest rates, reduced payments, release of guarantor, or entering into short sale agreements. FHN's proprietary modification programs for consumer loans are generally structured using parameters of U.S. government-sponsored programs such as Home Affordable Modification Program (“HAMP”). Within the HELOC and R/E installment loans classes of the consumer portfolio segment, TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 1 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt ratio. Permanent mortgage TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 2 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt ratio. After 5 years the interest rate steps up 1 percent every year thereafter until it reaches the Federal Home Loan Mortgage Corporation ("Freddie Mac," "Freddie," or "FHLMC") 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. In 2012, the OCC clarified that the discharge of personal liability through bankruptcy proceedings should be considered a concession. As a result, FHN classifie s all non-reaffirmed residential real estate loans after bankruptcy as nonaccruing TDRs. On March 31, 2014 and 2013, FHN had $353.4 million and $3 52.4 million portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $65.8 million and $64.6 million, or 19 percent as of March 31, 2014, and 18 p ercent as of March 31, 2013. Additionally, $137.0 million and $1 28.6 million of loans held-for-sale as of March 31, 2014 and 2013, respectively were classified as TDRs.
The following table reflects portfolio loans that were classified as TDRs during the three months ended March 31, 2014 and 2013: |
|  | 2014 |  | 2013 |
|  |  |  | Pre-Modification |  | Post-Modification |  |  |  | Pre-Modification |  | Post-Modification |
|  |  |  | Outstanding |  | Outstanding |  |  |  | Outstanding |  | Outstanding |
(Dollars in thousands) | Number |  | Recorded Investment |  | Recorded Investment |  | Number |  | Recorded Investment |  | Recorded Investment |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General C&I | - |  | $ | - |  | $ | - |  | 5 |  | $ | 1,242 |  | $ | 1,238 |
| Total commercial (C&I) | - |  |  | - |  |  | - |  | 5 |  |  | 1,242 |  |  | 1,238 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income CRE | - |  |  | - |  |  | - |  | - |  |  | - |  |  | - |
Residential CRE | - |  |  | - |  |  | - |  | - |  |  | - |  |  | - |
| Total commercial real estate | - |  |  | - |  |  | - |  | - |  |  | - |  |  | - |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC | 67 |  |  | 5,790 |  |  | 5,768 |  | 115 |  |  | 7,759 |  |  | 7,551 |
R/E installment loans | 72 |  |  | 5,143 |  |  | 5,102 |  | 179 |  |  | 6,285 |  |  | 6,233 |
| Total consumer real estate | 139 |  |  | 10,933 |  |  | 10,870 |  | 294 |  |  | 14,044 |  |  | 13,784 |
Permanent mortgage | 12 |  |  | 4,593 |  |  | 4,087 |  | 12 |  |  | 4,737 |  |  | 4,852 |
Credit card & other | 20 |  |  | 87 |  |  | 85 |  | 11 |  |  | 62 |  |  | 59 |
Total troubled debt restructurings | 171 |  | $ | 15,613 |  | $ | 15,042 |  | 322 |  | $ | 20,085 |  | $ | 19,933 |
The following table presents TDRs which re-defaulted during the three months ended March 31, 2014 and 2013, and as to which the modification occurred 12 months or less prior to the re-default. Financing receivables that became classified as TDRs within the previous 12 months and for which there was a payment default during the period are calculated by first identifying TDRs that defaulted during the period and then determining whether they were modified within the 12 months prior to the default. For purposes of this disclosure, FHN generally defines payment default as 30 or more plus days past due.
|  | 2014 |  | 2013 |
|  |  |  | Recorded |  |  |  | Recorded |
(Dollars in thousands) | Number |  | Investment |  | Number |  | Investment |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |
General C&I | 4 |  | $ | 512 |  | 7 |  | $ | 6,052 |
| Total commercial (C&I) | 4 |  |  | 512 |  | 7 |  |  | 6,052 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |
Income CRE | 2 |  |  | 389 |  | 3 |  |  | 1,397 |
Residential CRE | - |  |  | - |  | 1 |  |  | 33 |
| Total commercial real estate | 2 |  |  | 389 |  | 4 |  |  | 1,430 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |
HELOC | 4 |  |  | 307 |  | 7 |  |  | 344 |
R/E installment loans | 3 |  |  | 118 |  | 4 |  |  | 129 |
| Total consumer real estate | 7 |  |  | 425 |  | 11 |  |  | 473 |
Permanent mortgage | - |  |  | - |  | 9 |  |  | 4,398 |
Credit card & other | 2 |  |  | 4 |  | 2 |  |  | 5 |
Total troubled debt restructurings | 15 |  | $ | 1,330 |  | 33 |  | $ | 12,358 |
The determination of whether a TDR is placed on nonaccrual status generally follows the same internal policies and procedures as other portfolio loans. However, FHN will typically place a consumer real estate loan on nonaccrual status if it is 30 or more days delinquent upon modification into a TDR. For commercial loans, nonaccrual TDRs that are reasonably assured of repayment according to their modified terms may be returned to accrual status by FHN upon a detailed credit evaluation of the borrower's financial condition and prospects for repayment under the revised terms. For consumer loans, FHN's evaluation supporting the decision to return a modified loan to accrual status includes consideration of the borrower's sustained historical repayment performance for a reasonable period prior to the date on which the loan is returned to accrual status, which is generally a minimum of six months. FHN may also consider a borrower's sustained historical repayment performance for a reasonable time prior to the restructuring in assessing whether the borrower can meet the restructured terms, as it may indicate that the borrower is capable of servicing the level of debt under the modified terms. Otherwise, FHN will continue to classify restructured loans as nonaccrual. Consistent with regulatory guidance, upon sustained performance and classification as a TDR over FHN's year-end, the loan will be removed from TDR status as long as the modified terms were market-based at the time of modification.

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