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Allowance | 9 Months Ended
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Sep. 30, 2015
Loans And Leases Receivable Allowance [Abstract] |
Allowance | Note 5 - Allowance for Loan Losses The ALLL includes the following components: reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous retail loans, both determined in accordance with ASC 450-20-50. The reserve factors applied to these pools are an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics and are subject to qualitative adjustment s by management to reflect current events, trends, and conditions (including economic considerations and trends). The pace of the economic recovery, performance of the housing market, u nemployment levels, labor participation rate, regulatory environment, regulatory guidance, and both positive and negative portfolio segment-specific trends, are examples of additional factors considered by management in determining the ALLL. Additionally, management considers the inherent uncertainty of quantitative models that are driven by historical loss data. Man agement 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 bala nce 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 a lso include s reserves determined in accordance with ASC 310-10-3 5 for loans determined by management to be individually i mpaired 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 which were filed as part of Exhibit 99.1 to FHN’s Current Report on Form 8-K dated October 19, 2015, for add itional 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 nine months ended September 30, 2015 and 2014: |
|  |  |  | Commercial | Consumer | Permanent | Credit Card |  |  |
(Dollars in thousands) | C&I | Real Estate | Real Estate | Mortgage | and Other |  | Total |
Balance as of July 1, 2014 | $ | 68,591 | $ | 15,821 | $ | 118,037 | $ | 23,727 | $ | 17,452 | $ | 243,628 |
Charge-offs |  | (3,741) |  | (1,789) |  | (13,465) |  | (1,047) |  | (3,642) |  | (23,684) |
Recoveries |  | 5,219 |  | 312 |  | 5,669 |  | 686 |  | 811 |  | 12,697 |
Provision/(provision credit) for loan losses |  | (199) |  | 1,106 |  | 8,154 |  | (3,145) |  | 84 |  | 6,000 |
Balance as of September 30, 2014 |  | 69,870 |  | 15,450 |  | 118,395 |  | 20,221 |  | 14,705 |  | 238,641 |
Balance as of January 1, 2014 | $ | 86,446 | $ | 10,603 | $ | 126,785 | $ | 22,491 | $ | 7,484 | $ | 253,809 |
Charge-offs |  | (14,997) |  | (3,163) |  | (33,803) |  | (4,144) |  | (11,033) |  | (67,140) |
Recoveries |  | 8,338 |  | 2,323 |  | 16,113 |  | 1,958 |  | 2,240 |  | 30,972 |
Provision/(provision credit) for loan losses |  | (9,917) |  | 5,687 |  | 9,300 |  | (84) |  | 16,014 |  | 21,000 |
Balance as of September 30, 2014 |  | 69,870 |  | 15,450 |  | 118,395 |  | 20,221 |  | 14,705 |  | 238,641 |
Allowance - individually evaluated for impairment |  | 6,039 |  | 1,104 |  | 41,492 |  | 17,329 |  | 255 |  | 66,219 |
Allowance - collectively evaluated for impairment |  | 63,783 |  | 11,613 |  | 76,845 |  | 2,892 |  | 14,450 |  | 169,583 |
Allowance - purchase credit impaired loans |  | 48 |  | 2,733 |  | 58 |  | - |  | - |  | 2,839 |
Loans, net of unearned as of September 30, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |
| Individually evaluated for impairment |  | 46,862 |  | 22,365 |  | 174,532 |  | 118,537 |  | 548 |  | 362,844 |
| Collectively evaluated for impairment |  | 8,425,391 |  | 1,221,636 |  | 4,955,813 |  | 454,252 |  | 351,958 |  | 15,409,050 |
| Purchased credit-impaired loans |  | 5,076 |  | 34,393 |  | 643 |  | - |  | 11 |  | 40,123 |
Total loans, net of unearned | $ | 8,477,329 | $ | 1,278,394 | $ | 5,130,988 | $ | 572,789 | $ | 352,517 | $ | 15,812,017 |
Balance as of July 1, 2015 | $ | 78,750 | $ | 21,492 | $ | 85,457 | $ | 22,377 | $ | 13,275 | $ | 221,351 |
Charge-offs |  | (8,632) |  | (533) |  | (7,994) |  | (1,038) |  | (3,612) |  | (21,809) |
Recoveries |  | 2,264 |  | 868 |  | 5,785 |  | 229 |  | 1,126 |  | 10,272 |
Provision/(provision credit) for loan losses |  | (919) |  | 3,521 |  | (776) |  | (1,492) |  | 666 |  | 1,000 |
Balance as of September 30, 2015 |  | 71,463 |  | 25,348 |  | 82,472 |  | 20,076 |  | 11,455 |  | 210,814 |
Balance as of January 1, 2015 | $ | 67,011 | $ | 18,574 | $ | 113,011 | $ | 19,122 | $ | 14,730 | $ | 232,448 |
Charge-offs |  | (17,163) |  | (2,208) |  | (23,434) |  | (3,031) |  | (13,406) |  | (59,242) |
Recoveries |  | 5,143 |  | 1,712 |  | 18,360 |  | 1,518 |  | 2,875 |  | 29,608 |
Provision/(provision credit) for loan losses |  | 16,472 |  | 7,270 |  | (25,465) |  | 2,467 |  | 7,256 |  | 8,000 |
Balance as of September 30, 2015 |  | 71,463 |  | 25,348 |  | 82,472 |  | 20,076 |  | 11,455 |  | 210,814 |
Allowance - individually evaluated for impairment |  | 6,156 |  | 587 |  | 33,918 |  | 15,696 |  | 168 |  | 56,525 |
Allowance - collectively evaluated for impairment |  | 65,063 |  | 22,591 |  | 48,050 |  | 4,380 |  | 11,286 |  | 151,370 |
Allowance - purchased credit-impaired loans |  | 244 |  | 2,170 |  | 504 |  | - |  | 1 |  | 2,919 |
Loans, net of unearned as of September 30, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |
| Individually evaluated for impairment |  | 39,659 |  | 10,309 |  | 170,068 |  | 105,054 |  | 380 |  | 325,470 |
| Collectively evaluated for impairment |  | 9,565,626 |  | 1,457,568 |  | 4,641,396 |  | 358,839 |  | 348,937 |  | 16,372,366 |
| Purchased credit-impaired loans |  | 5,010 |  | 20,167 |  | 2,472 |  | - |  | 7 |  | 27,656 |
Total loans, net of unearned | $ | 9,610,295 | $ | 1,488,044 | $ | 4,813,936 | $ | 463,893 | $ | 349,324 | $ | 16,725,492 |

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