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Loans | 9 Months Ended
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Sep. 30, 2015
Loans [Abstract] |
Loans | Note 4 – Loans
The following table provides the balance of loans by portfolio segment as of September 30, 2015 and 2014, and December, 31 2014:
|  | September 30 |  | December 31 |
(Dollars in thousands) | 2015 |  | 2014 |  | 2014 |
Commercial: |  |  |  |  |  |  |  |  |
| Commercial, financial, and industrial | $ | 9,610,295 |  | $ | 8,477,329 |  | $ | 9,007,286 |
| Commercial real estate |  | 1,488,044 |  |  | 1,278,394 |  |  | 1,277,717 |
Retail: |  |  |  |  |  |  |  |  |
| Consumer real estate (a) |  | 4,813,936 |  |  | 5,130,988 |  |  | 5,048,071 |
| Permanent mortgage |  | 463,893 |  |  | 572,789 |  |  | 538,961 |
| Credit card & other |  | 349,324 |  |  | 352,517 |  |  | 358,131 |
Loans, net of unearned income | $ | 16,725,492 |  | $ | 15,812,017 |  | $ | 16,230,166 |
Allowance for loan losses |  | 210,814 |  |  | 238,641 |  |  | 232,448 |
Total net loans | $ | 16,514,678 |  | $ | 15,573,376 |  | $ | 15,997,718 |
(a) Balances as of September 30, 2015 and 2014, and December 31, 2014 include $59.3 million, $81.1 million, and $76.8 million of restricted real estate loans, respectively. See Note 13 - Variable Interest Entities for additional information. C OMPONENTS OF THE LOAN PORTFOLIO T he loan portfolio is disaggregated into segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally determined based on the initial measurement attribute (i.e., amortized cost or purchased credit-impaired), risk characteristics of the loan, and FHN’s method for monitoring and as sessing credit risk. Commercial loan portfolio segments include commercial, financial and industrial ("C&I") and commercial real estate ("CRE"). Commercial classes within C&I include general C&I, loans to mortgage companies, the trust preferred loans ("TRU P S") (i.e. long-term unsecured loans to bank and insurance - related businesses) portfolio and purchased credit-impaired (“PCI”) loans. Loans to mortgage companies includes commercial lines of credit to qualified mortgage companies primarily for the tempor ary warehousing of eligible mortgage loans prior to the borrower’s sale of those mortgage loans to third party investors. Commercial classes within CRE include income CRE, residential CRE and PCI loans. Retail loan portfolio segments include consumer real estate, permanent mortgage, and the credit card and other portfolio. Retail classes include HELOC, real estate ("R/E") installment and PCI loans within the consumer real estate segment, permanent mortgage (which is both a segment and a class), and credit c ard and other. Concentrations FHN has a concentration of residential real estate loans (32 percent of total loans), the majority of which is in the consumer real estate segment (29 percent of total loans). Loans to finance and insurance companies total $2.1 billion (2 2 percent of the C&I portfolio, or 13 percent of the total loans). F HN had loans to mortgage companies totaling $1.4 billion (1 4 percent of the C&I segment, or 8 percent of total loans) as of September 30, 2015. As a result, 36 percent of the C&I segment was sensitive to impacts on the financial services industry. Purchased Credit-Impaired Loans
The following table presents a rollforward of the accretable yield for the three and nine months ended September 30, 2015 and 2014:
| Three Months Ended |  | Nine Months Ended |
|  | September 30 |  | September 30 |
(Dollars in thousands) |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Balance, beginning of period | $ | 8,348 | $ | 16,509 | $ | 14,714 | $ | 13,490 |
Additions |  | - |  | - |  | - |  | 335 |
Accretion |  | (1,037) |  | (1,829) |  | (5,985) |  | (5,413) |
Adjustment for payoffs |  | (835) |  | (828) |  | (2,931) |  | (1,550) |
Adjustment for charge-offs |  | - |  | (10) |  | - |  | (79) |
Increase in accretable yield (a) |  | 500 |  | 2,231 |  | 1,178 |  | 9,290 |
Balance, end of period | $ | 6,976 | $ | 16,073 | $ | 6,976 | $ | 16,073 |
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 September 30, 2015, the ALLL related to PCI loans was $2.9 million compared to $2.8 million at September 30, 2014. A loan loss provision expense of $.1 million was recognized during the three months ended September 30, 2015 as compared to a loan loss provision expense of $.4 million recognized during the three months ended September 30, 2014. A loan loss provision credit of $.4 million was recognized during the nine months ended September 30, 2015 as compared to a loan loss provision expense of $2.1 million recognized during the nine months ended September 30, 2014. The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of September 30, 2015 and 2014, and December 31, 2014: |
| September 30, 2015 |  | September 30, 2014 |  | December 31, 2014 |
(Dollars in thousands) | Carrying value |  | Unpaid balance |  | Carrying value |  | Unpaid balance |  | Carrying value |  | Unpaid balance |
Commercial, financial and industrial | $ | 4,767 |  | $ | 5,353 |  | $ | 5,028 |  | $ | 6,155 |  | $ | 5,044 |  | $ | 5,813 |
Commercial real estate |  | 17,998 |  |  | 21,138 |  |  | 31,660 |  |  | 42,890 |  |  | 32,553 |  |  | 43,246 |
Consumer real estate |  | 1,968 |  |  | 2,636 |  |  | 585 |  |  | 875 |  |  | 598 |  |  | 868 |
Credit card and other |  | 6 |  |  | 10 |  |  | 11 |  |  | 16 |  |  | 10 |  |  | 14 |
Total | $ | 24,739 |  | $ | 29,137 |  | $ | 37,284 |  | $ | 49,936 |  | $ | 38,205 |  | $ | 49,941 |
Impaired Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following tables provide information at September 30, 2015 and 2014, by class related to individually impaired loans and consumer TDR's. Recorded investment is defined as the amount of the investment in a loan, before valuation allowance but which does reflect any direct write-down of the investment. For purposes of this disclosure, PCI loans and net LOCOM have been excluded.
|  | September 30, 2015 |  |  | Three Months Ended |  |  | Nine Months Ended |
|  |  |  | September 30, 2015 |  |  | September 30, 2015 |
|  |  |  |  | Unpaid |  |  |  |  | Average |  | Interest |  | Average |  | Interest |
|  | Recorded | Principal | Related |  | Recorded |  | Income |  | Recorded |  | Income |
(Dollars in thousands) | Investment | Balance | Allowance |  | Investment |  | Recognized |  | Investment |  | Recognized |
Impaired loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 5,586 |  | $ | 7,266 |  | $ | - |  | $ | 8,994 |  | $ | - |  | $ | 11,202 |  | $ | - |
| Income CRE |  | 2,468 |  |  | 9,389 |  |  | - |  |  | 3,328 |  |  | - |  |  | 4,631 |  |  | - |
| Residential CRE |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 191 |  |  | - |
| Total | $ | 8,054 |  | $ | 16,655 |  | $ | - |  | $ | 12,322 |  | $ | - |  | $ | 16,024 |  | $ | - |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC (a) | $ | 11,000 |  | $ | 28,486 |  | $ | - |  | $ | 11,788 |  | $ | - |  | $ | 12,455 |  | $ | - |
| R/E installment loans (a) |  | 4,404 |  |  | 5,756 |  |  | - |  |  | 4,682 |  |  | - |  |  | 4,696 |  |  | - |
| Permanent mortgage (a) |  | 5,983 |  |  | 8,255 |  |  | - |  |  | 6,193 |  |  | - |  |  | 6,743 |  |  | - |
| Total | $ | 21,387 |  | $ | 42,497 |  | $ | - |  | $ | 22,663 |  | $ | - |  | $ | 23,894 |  | $ | - |
Impaired loans with related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 21,319 |  | $ | 25,515 |  | $ | 846 |  | $ | 25,934 |  | $ | 238 |  | $ | 24,702 |  | $ | 727 |
| TRUPS |  | 13,369 |  |  | 13,700 |  |  | 5,310 |  |  | 13,384 |  |  | - |  |  | 13,414 |  |  | - |
| Income CRE |  | 6,424 |  |  | 7,709 |  |  | 496 |  |  | 6,606 |  |  | 32 |  |  | 6,962 |  |  | 95 |
| Residential CRE |  | 1,417 |  |  | 1,886 |  |  | 91 |  |  | 1,468 |  |  | 6 |  |  | 1,512 |  |  | 19 |
| Total | $ | 42,529 |  | $ | 48,810 |  | $ | 6,743 |  | $ | 47,392 |  | $ | 276 |  | $ | 46,590 |  | $ | 841 |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC | $ | 89,199 |  | $ | 91,382 |  | $ | 17,200 |  | $ | 88,245 |  | $ | 474 |  | $ | 86,359 |  | $ | 1,383 |
| R/E installment loans |  | 65,465 |  |  | 66,431 |  |  | 16,718 |  |  | 66,367 |  |  | 352 |  |  | 68,274 |  |  | 1,010 |
| Permanent mortgage |  | 99,071 |  |  | 111,683 |  |  | 15,696 |  |  | 99,913 |  |  | 613 |  |  | 102,341 |  |  | 1,841 |
| Credit card & other |  | 380 |  |  | 380 |  |  | 168 |  |  | 399 |  |  | 3 |  |  | 453 |  |  | 11 |
| Total | $ | 254,115 |  | $ | 269,876 |  | $ | 49,782 |  | $ | 254,924 |  | $ | 1,442 |  | $ | 257,427 |  | $ | 4,245 |
Total commercial | $ | 50,583 |  | $ | 65,465 |  | $ | 6,743 |  | $ | 59,714 |  | $ | 276 |  | $ | 62,614 |  | $ | 841 |
Total retail | $ | 275,502 |  | $ | 312,373 |  | $ | 49,782 |  | $ | 277,587 |  | $ | 1,442 |  | $ | 281,321 |  | $ | 4,245 |
Total impaired loans | $ | 326,085 |  | $ | 377,838 |  | $ | 56,525 |  | $ | 337,301 |  | $ | 1,718 |  | $ | 343,935 |  | $ | 5,086 |
All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance.
|  | September 30, 2014 |  |  | Three Months Ended |  |  | Nine Months Ended |
|  |  |  | September 30, 2014 |  |  | September 30, 2014 |
|  |  |  |  | Unpaid |  |  |  |  | Average |  | Interest |  | Average |  | Interest |
|  | Recorded | Principal | Related |  | Recorded |  | Income |  | Recorded |  | Income |
(Dollars in thousands) | Investment | Balance | Allowance |  | Investment |  | Recognized |  | Investment |  | Recognized |
Impaired loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 15,594 |  | $ | 17,185 |  | $ | - |  | $ | 15,542 |  | $ | - |  | $ | 16,910 |  | $ | - |
| TRUPS |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1,083 |  |  | - |
| Income CRE |  | 6,819 |  |  | 14,379 |  |  | - |  |  | 6,829 |  |  | - |  |  | 7,670 |  |  | - |
| Residential CRE |  | 1,148 |  |  | 1,827 |  |  | - |  |  | 1,148 |  |  | - |  |  | 574 |  |  | - |
| Total | $ | 23,561 |  | $ | 33,391 |  | $ | - |  | $ | 23,519 |  | $ | - |  | $ | 26,237 |  | $ | - |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC (a) | $ | 14,036 |  | $ | 34,693 |  | $ | - |  | $ | 15,713 |  | $ | - |  | $ | 16,324 |  | $ | - |
| R/E installment loans (a) |  | 5,640 |  |  | 7,221 |  |  | - |  |  | 6,552 |  |  | - |  |  | 8,729 |  |  | - |
| Permanent mortgage (a) |  | 7,616 |  |  | 10,023 |  |  | - |  |  | 7,739 |  |  | - |  |  | 7,918 |  |  | - |
| Total | $ | 27,292 |  | $ | 51,937 |  | $ | - |  | $ | 30,004 |  | $ | - |  | $ | 32,971 |  | $ | - |
Impaired loans with related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| General C&I | $ | 18,393 |  | $ | 22,579 |  | $ | 2,229 |  | $ | 25,394 |  | $ | 79 |  | $ | 25,895 |  | $ | 236 |
| TRUPS |  | 13,490 |  |  | 13,700 |  |  | 3,810 |  |  | 8,505 |  |  | - |  |  | 13,540 |  |  | - |
| Income CRE |  | 8,735 |  |  | 10,107 |  |  | 481 |  |  | 8,789 |  |  | 62 |  |  | 10,406 |  |  | 226 |
| Residential CRE |  | 5,663 |  |  | 11,111 |  |  | 623 |  |  | 5,846 |  |  | 59 |  |  | 6,233 |  |  | 183 |
| Total | $ | 46,281 |  | $ | 57,497 |  | $ | 7,143 |  | $ | 48,534 |  | $ | 200 |  | $ | 56,074 |  | $ | 645 |
Retail: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| HELOC | $ | 81,422 |  | $ | 82,813 |  | $ | 17,061 |  | $ | 79,352 |  | $ | 448 |  | $ | 75,476 |  | $ | 1,339 |
| R/E installment loans |  | 73,434 |  |  | 74,690 |  |  | 24,431 |  |  | 74,091 |  |  | 306 |  |  | 73,783 |  |  | 872 |
| Permanent mortgage |  | 110,921 |  |  | 124,429 |  |  | 17,329 |  |  | 111,263 |  |  | 709 |  |  | 112,518 |  |  | 2,138 |
| Credit card & other |  | 548 |  |  | 548 |  |  | 255 |  |  | 536 |  |  | 5 |  |  | 614 |  |  | 21 |
| Total | $ | 266,325 |  | $ | 282,480 |  | $ | 59,076 |  | $ | 265,242 |  | $ | 1,468 |  | $ | 262,391 |  | $ | 4,370 |
Total commercial | $ | 69,842 |  | $ | 90,888 |  | $ | 7,143 |  | $ | 72,053 |  | $ | 200 |  | $ | 82,311 |  | $ | 645 |
Total retail | $ | 293,617 |  | $ | 334,417 |  | $ | 59,076 |  | $ | 295,246 |  | $ | 1,468 |  | $ | 295,362 |  | $ | 4,370 |
Total impaired loans | $ | 363,459 |  | $ | 425,305 |  | $ | 66,219 |  | $ | 367,299 |  | $ | 1,668 |  | $ | 377,673 |  | $ | 5,015 |
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 lowes t 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), an d 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 certa in commercial loans over $500,000 that are graded 13 or worse are reassessed on a quarterly basis. LGD grades are assigned based on a scale of 1-12 and represent FHN’s expected recovery based on collateral type in the event a loan defaults. See Note 5 - Al lowance 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 September 30, 2015 and 2014: |  |
| September 30, 2015 |  |
|  |  |  | 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 | $ | 529,836 |  | $ | - |  | $ | - |  | $ | 707 |  | $ | - |  | $ | 530,543 |  |  | 5 | % |  | $ | 127 |  |
2 |  | 590,614 |  |  | - |  |  | - |  |  | 10,835 |  |  | 126 |  |  | 601,575 |  |  | 5 |  |  |  | 322 |  |
3 |  | 453,831 |  |  | 327,776 |  |  | - |  |  | 90,588 |  |  | - |  |  | 872,195 |  |  | 8 |  |  |  | 311 |  |
4 |  | 822,515 |  |  | 315,061 |  |  | - |  |  | 110,165 |  |  | 302 |  |  | 1,248,043 |  |  | 11 |  |  |  | 949 |  |
5 |  | 1,190,085 |  |  | 239,391 |  |  | - |  |  | 234,729 |  |  | 7,015 |  |  | 1,671,220 |  |  | 15 |  |  |  | 6,901 |  |
6 |  | 1,201,553 |  |  | 350,401 |  |  | - |  |  | 347,740 |  |  | 2,793 |  |  | 1,902,487 |  |  | 17 |  |  |  | 10,630 |  |
7 |  | 1,278,443 |  |  | 98,262 |  |  | - |  |  | 354,457 |  |  | 4,670 |  |  | 1,735,832 |  |  | 16 |  |  |  | 13,891 |  |
8 |  | 747,760 |  |  | 18,189 |  |  | - |  |  | 150,375 |  |  | 561 |  |  | 916,885 |  |  | 8 |  |  |  | 13,953 |  |
9 |  | 377,998 |  |  | 26,240 |  |  | - |  |  | 42,995 |  |  | 2,212 |  |  | 449,445 |  |  | 4 |  |  |  | 8,310 |  |
10 |  | 188,711 |  |  | - |  |  | - |  |  | 30,515 |  |  | 89 |  |  | 219,315 |  |  | 2 |  |  |  | 4,635 |  |
11 |  | 186,974 |  |  | - |  |  | - |  |  | 28,004 |  |  | 747 |  |  | 215,725 |  |  | 2 |  |  |  | 5,861 |  |
12 |  | 80,836 |  |  | - |  |  | - |  |  | 9,095 |  |  | 516 |  |  | 90,447 |  |  | 1 |  |  |  | 2,975 |  |
13 |  | 112,423 |  |  | - |  |  | 305,382 |  |  | 3,600 |  |  | 260 |  |  | 421,665 |  |  | 4 |  |  |  | 4,256 |  |
14,15,16 |  | 123,345 |  |  | - |  |  | - |  |  | 23,195 |  |  | 1,277 |  |  | 147,817 |  |  | 1 |  |  |  | 14,533 |  |
Collectively evaluated for impairment |  | 7,884,924 |  |  | 1,375,320 |  |  | 305,382 |  |  | 1,437,000 |  |  | 20,568 |  |  | 11,023,194 |  |  | 99 |  |  |  | 87,654 |  |
Individually evaluated for impairment |  | 26,904 |  |  | - |  |  | 12,755 |  |  | 8,892 |  |  | 1,417 |  |  | 49,968 |  |  | 1 |  |  |  | 6,743 |  |
Purchased credit-impaired loans |  | 5,010 |  |  | - |  |  | - |  |  | 18,533 |  |  | 1,634 |  |  | 25,177 |  |  | - |  |  |  | 2,414 |  |
Total commercial loans | $ | 7,916,838 |  | $ | 1,375,320 |  | $ | 318,137 |  | $ | 1,464,425 |  | $ | 23,619 |  | $ | 11,098,339 |  |  | 100 | % |  | $ | 96,811 |  |
| September 30, 2014 |
|  |  |  | 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 | $ | 441,590 |  | $ | - |  | $ | - |  | $ | 221 |  | $ | 63 |  | $ | 441,874 |  | 5 | % | $ |  | - |
2 |  | 355,805 |  |  | - |  |  | - |  |  | 2,854 |  |  | 244 |  |  | 358,903 |  | 4 |  |  |  | 338 |
3 |  | 412,110 |  |  | 46,838 |  |  | - |  |  | 28,750 |  |  | 93 |  |  | 487,791 |  | 5 |  |  |  | 264 |
4 |  | 446,092 |  |  | 148,852 |  |  | - |  |  | 28,815 |  |  | 296 |  |  | 624,055 |  | 6 |  |  |  | 671 |
5 |  | 947,041 |  |  | 177,435 |  |  | - |  |  | 239,166 |  |  | 4,717 |  |  | 1,368,359 |  | 14 |  |  |  | 2,741 |
6 |  | 1,090,900 |  |  | 275,710 |  |  | - |  |  | 184,961 |  |  | 5,579 |  |  | 1,557,150 |  | 16 |  |  |  | 1,790 |
7 |  | 1,178,283 |  |  | 193,667 |  |  | - |  |  | 262,318 |  |  | 6,405 |  |  | 1,640,673 |  | 17 |  |  |  | 2,777 |
8 |  | 747,305 |  |  | 88,114 |  |  | - |  |  | 183,145 |  |  | 4,195 |  |  | 1,022,759 |  | 10 |  |  |  | 2,339 |
9 |  | 540,472 |  |  | 18,251 |  |  | - |  |  | 107,636 |  |  | 2,619 |  |  | 668,978 |  | 7 |  |  |  | 4,559 |
10 |  | 291,984 |  |  | 8,774 |  |  | - |  |  | 39,306 |  |  | 1,216 |  |  | 341,280 |  | 3 |  |  |  | 4,001 |
11 |  | 314,927 |  |  | - |  |  | - |  |  | 33,214 |  |  | 2,825 |  |  | 350,966 |  | 4 |  |  |  | 7,538 |
12 |  | 106,550 |  |  | - |  |  | - |  |  | 29,250 |  |  | 928 |  |  | 136,728 |  | 1 |  |  |  | 1,383 |
13 |  | 115,198 |  |  | - |  |  | 325,882 |  |  | 8,085 |  |  | 1,938 |  |  | 451,103 |  | 5 |  |  |  | 6,716 |
14,15,16 |  | 153,611 |  |  | - |  |  | - |  |  | 37,882 |  |  | 4,915 |  |  | 196,408 |  | 2 |  |  |  | 40,279 |
Collectively evaluated for impairment |  | 7,141,868 |  |  | 957,641 |  |  | 325,882 |  |  | 1,185,603 |  |  | 36,033 |  |  | 9,647,027 |  | 99 |  |  |  | 75,396 |
Individually evaluated for impairment |  | 33,987 |  |  | - |  |  | 12,875 |  |  | 15,554 |  |  | 6,811 |  |  | 69,227 |  | 1 |  |  |  | 7,143 |
Purchase credit-impaired loans |  | 5,076 |  |  | - |  |  | - |  |  | 32,588 |  |  | 1,805 |  |  | 39,469 |  | - |  |  |  | 2,781 |
Total commercial loans | $ | 7,180,931 |  | $ | 957,641 |  | $ | 338,757 |  | $ | 1,233,745 |  | $ | 44,649 |  | $ | 9,755,723 |  | 100 | % |  | $ | 85,320 |
Balances as of September 30, 2015 and 2014, each presented net of $26.2 million in lower of cost or market (“LOCOM”) valuation allowance. Based on the underlying structure of the notes, the highest possible internal grade is "13". 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 Corporati on (“FICO”) score, among other attributes, to assess the credit quality of consumer borrowers. FICO scores are refreshed on a quarterly basis in an attempt to reflect the recent risk profile of the borrowers. Accruing delinquency amounts are indicators of asset quality within the credit card and other retail portfolio.
The following tables reflect period end balances and average FICO scores by origination vintage for the HELOC, real estate installment, and permanent mortgage classes of loans as of September 30, 2015 and 2014:
HELOC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, 2015 |  | September 30, 2014 |
|  |  |  |  | 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 | $ | 42,651 |  |  | 707 |  |  | 702 |  | $ | 61,659 |  |  | 708 |  |  | 703 |
2003 |  | 79,768 |  |  | 720 |  |  | 710 |  |  | 111,031 |  |  | 722 |  |  | 709 |
2004 |  | 215,749 |  |  | 722 |  |  | 709 |  |  | 312,590 |  |  | 724 |  |  | 711 |
2005 |  | 341,878 |  |  | 730 |  |  | 715 |  |  | 476,226 |  |  | 732 |  |  | 722 |
2006 |  | 288,858 |  |  | 738 |  |  | 728 |  |  | 351,818 |  |  | 740 |  |  | 727 |
2007 |  | 310,250 |  |  | 744 |  |  | 729 |  |  | 369,635 |  |  | 744 |  |  | 729 |
2008 |  | 176,625 |  |  | 753 |  |  | 749 |  |  | 200,908 |  |  | 753 |  |  | 748 |
2009 |  | 88,937 |  |  | 751 |  |  | 745 |  |  | 105,576 |  |  | 752 |  |  | 743 |
2010 |  | 84,594 |  |  | 754 |  |  | 748 |  |  | 100,727 |  |  | 754 |  |  | 749 |
2011 |  | 81,754 |  |  | 759 |  |  | 753 |  |  | 100,842 |  |  | 759 |  |  | 753 |
2012 |  | 103,906 |  |  | 760 |  |  | 756 |  |  | 121,149 |  |  | 759 |  |  | 757 |
2013 |  | 129,742 |  |  | 757 |  |  | 755 |  |  | 158,256 |  |  | 759 |  |  | 760 |
2014 |  | 115,449 |  |  | 761 |  |  | 764 |  |  | 87,878 |  |  | 761 |  |  | 761 |
2015 |  | 103,431 |  |  | 762 |  |  | 762 |  |  | - |  |  | - |  |  | - |
Total | $ | 2,163,592 |  |  | 742 |  |  | 733 |  | $ | 2,558,295 |  |  | 741 |  |  | 732 |
R/E Installment Loans | September 30, 2015 | September 30, 2014
|  |  |  |  | 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 | $ | 8,701 |  |  | 677 |  |  | 689 |  | $ | 16,278 |  |  | 680 |  |  | 684 |
2003 |  | 35,532 |  |  | 712 |  |  | 721 |  |  | 55,361 |  |  | 715 |  |  | 724 |
2004 |  | 31,486 |  |  | 697 |  |  | 699 |  |  | 44,484 |  |  | 700 |  |  | 697 |
2005 |  | 96,162 |  |  | 714 |  |  | 710 |  |  | 132,276 |  |  | 715 |  |  | 713 |
2006 |  | 108,731 |  |  | 712 |  |  | 703 |  |  | 143,601 |  |  | 714 |  |  | 701 |
2007 |  | 163,909 |  |  | 721 |  |  | 708 |  |  | 211,780 |  |  | 723 |  |  | 709 |
2008 |  | 53,608 |  |  | 720 |  |  | 715 |  |  | 67,730 |  |  | 721 |  |  | 715 |
2009 |  | 23,384 |  |  | 735 |  |  | 730 |  |  | 31,524 |  |  | 739 |  |  | 728 |
2010 |  | 78,175 |  |  | 750 |  |  | 759 |  |  | 107,417 |  |  | 748 |  |  | 755 |
2011 |  | 242,096 |  |  | 760 |  |  | 760 |  |  | 296,440 |  |  | 760 |  |  | 759 |
2012 |  | 534,038 |  |  | 764 |  |  | 766 |  |  | 628,622 |  |  | 764 |  |  | 765 |
2013 |  | 424,674 |  |  | 756 |  |  | 757 |  |  | 486,553 |  |  | 756 |  |  | 757 |
2014 |  | 426,629 |  |  | 756 |  |  | 758 |  |  | 350,627 |  |  | 755 |  |  | 754 |
2015 |  | 423,219 |  |  | 758 |  |  | 754 |  |  | - |  |  | - |  |  | - |
Total | $ | 2,650,344 |  |  | 750 |  |  | 749 |  | $ | 2,572,693 |  |  | 748 |  |  | 746 |
Permanent Mortgage | September 30, 2015 | September 30, 2014
|  |  |  |  | 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 | $ | 120,411 |  |  | 722 |  |  | 718 |  | $ | 161,037 |  |  | 724 |  |  | 723 |
2004 |  | 14,003 |  |  | 711 |  |  | 709 |  |  | 18,190 |  |  | 713 |  |  | 713 |
2005 |  | 30,637 |  |  | 736 |  |  | 733 |  |  | 35,503 |  |  | 737 |  |  | 733 |
2006 |  | 49,011 |  |  | 732 |  |  | 722 |  |  | 65,722 |  |  | 731 |  |  | 734 |
2007 |  | 168,663 |  |  | 734 |  |  | 713 |  |  | 201,640 |  |  | 734 |  |  | 735 |
2008 |  | 81,168 |  |  | 741 |  |  | 712 |  |  | 90,697 |  |  | 742 |  |  | 736 |
Total | $ | 463,893 |  |  | 730 |  |  | 716 |  | $ | 572,789 |  |  | 730 |  |  | 731 |
Nonaccrual and Past Due Loans
The following table reflects accruing and non-accruing loans by class on September 30, 2015: |
|  | Accruing |  | Non-Accruing |  |  |
|  |  |  |  | 30-89 |  | 90+ |  |  |  |  |  |  |  | 30-89 |  | 90+ |  | Total |  |  |  |
|  |  |  |  | Days |  | Days |  | Total |  |  |  |  | Days |  | Days |  | Non- |  | Total |
(Dollars in thousands) | Current |  | Past Due |  | Past Due |  | Accruing |  | Current |  | Past Due |  | Past Due |  | Accruing |  | Loans |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General C&I | $ | 7,888,633 |  | $ | 6,095 |  | $ | 349 |  | $ | 7,895,077 |  | $ | 5,359 |  | $ | 1,553 |  | $ | 9,839 |  | $ | 16,751 |  | $ | 7,911,828 |
Loans to mortgage companies |  | 1,373,103 |  |  | 2,102 |  |  | - |  |  | 1,375,205 |  |  | - |  |  | - |  |  | 115 |  |  | 115 |  |  | 1,375,320 |
TRUPS (a) |  | 305,382 |  |  | - |  |  | - |  |  | 305,382 |  |  | - |  |  | - |  |  | 12,755 |  |  | 12,755 |  |  | 318,137 |
Purchased credit-impaired loans |  | 4,705 |  |  | - |  |  | 305 |  |  | 5,010 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5,010 |
Total commercial (C&I) |  | 9,571,823 |  |  | 8,197 |  |  | 654 |  |  | 9,580,674 |  |  | 5,359 |  |  | 1,553 |  |  | 22,709 |  |  | 29,621 |  |  | 9,610,295 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income CRE |  | 1,435,395 |  |  | 2,394 |  |  | - |  |  | 1,437,789 |  |  | 914 |  |  | - |  |  | 7,189 |  |  | 8,103 |  |  | 1,445,892 |
Residential CRE |  | 21,905 |  |  | 80 |  |  | - |  |  | 21,985 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 21,985 |
Purchased credit-impaired loans |  | 16,172 |  |  | 3,845 |  |  | 150 |  |  | 20,167 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 20,167 |
Total commercial real estate |  | 1,473,472 |  |  | 6,319 |  |  | 150 |  |  | 1,479,941 |  |  | 914 |  |  | - |  |  | 7,189 |  |  | 8,103 |  |  | 1,488,044 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC |  | 2,056,044 |  |  | 19,459 |  |  | 10,146 |  |  | 2,085,649 |  |  | 63,667 |  |  | 5,150 |  |  | 9,126 |  |  | 77,943 |  |  | 2,163,592 |
R/E installment loans |  | 2,599,513 |  |  | 11,423 |  |  | 3,211 |  |  | 2,614,147 |  |  | 26,293 |  |  | 2,174 |  |  | 5,258 |  |  | 33,725 |  |  | 2,647,872 |
Purchased credit-impaired loans |  | 2,383 |  |  | - |  |  | 89 |  |  | 2,472 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,472 |
Total consumer real estate |  | 4,657,940 |  |  | 30,882 |  |  | 13,446 |  |  | 4,702,268 |  |  | 89,960 |  |  | 7,324 |  |  | 14,384 |  |  | 111,668 |  |  | 4,813,936 |
Permanent mortgage |  | 420,727 |  |  | 4,051 |  |  | 5,270 |  |  | 430,048 |  |  | 14,044 |  |  | 3,228 |  |  | 16,573 |  |  | 33,845 |  |  | 463,893 |
Credit card & other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit card |  | 187,770 |  |  | 2,049 |  |  | 1,171 |  |  | 190,990 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 190,990 |
Other |  | 156,664 |  |  | 718 |  |  | 202 |  |  | 157,584 |  |  | - |  |  | - |  |  | 743 |  |  | 743 |  |  | 158,327 |
Purchased credit-impaired loans |  | 7 |  |  | - |  |  | - |  |  | 7 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |
Total credit card & other |  | 344,441 |  |  | 2,767 |  |  | 1,373 |  |  | 348,581 |  |  | - |  |  | - |  |  | 743 |  |  | 743 |  |  | 349,324 |
Total loans, net of unearned | $ | 16,468,403 |  | $ | 52,216 |  | $ | 20,893 |  | $ | 16,541,512 |  | $ | 110,277 |  | $ | 12,105 |  | $ | 61,598 |  | $ | 183,980 |  | $ | 16,725,492 |
Total TRUPS i nclude s LOCOM valuation allowance of $26.2 million.
The following table reflects accruing and non-accruing loans by class on September 30, 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 | $ | 7,140,246 |  | $ | 5,515 |  | $ | 1,717 |  | $ | 7,147,478 |  | $ | 5,603 |  | $ | 1,469 |  | $ | 21,305 |  | $ | 28,377 |  | $ | 7,175,855 |
Loans to mortgage companies |  | 956,861 |  |  | 650 |  |  | - |  |  | 957,511 |  |  | - |  |  | - |  |  | 130 |  |  | 130 |  |  | 957,641 |
TRUPS (a) |  | 325,882 |  |  | - |  |  | - |  |  | 325,882 |  |  | 9,385 |  |  | - |  |  | 3,490 |  |  | 12,875 |  |  | 338,757 |
Purchased credit-impaired loans |  | 4,710 |  |  | 366 |  |  | - |  |  | 5,076 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5,076 |
Total commercial (C&I) |  | 8,427,699 |  |  | 6,531 |  |  | 1,717 |  |  | 8,435,947 |  |  | 14,988 |  |  | 1,469 |  |  | 24,925 |  |  | 41,382 |  |  | 8,477,329 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income CRE |  | 1,186,595 |  |  | 2,781 |  |  | - |  |  | 1,189,376 |  |  | 217 |  |  | 1,068 |  |  | 10,496 |  |  | 11,781 |  |  | 1,201,157 |
Residential CRE |  | 40,249 |  |  | 189 |  |  | - |  |  | 40,438 |  |  | 1,254 |  |  | - |  |  | 1,152 |  |  | 2,406 |  |  | 42,844 |
Purchased credit-impaired loans |  | 33,185 |  |  | 669 |  |  | 539 |  |  | 34,393 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 34,393 |
Total commercial real estate |  | 1,260,029 |  |  | 3,639 |  |  | 539 |  |  | 1,264,207 |  |  | 1,471 |  |  | 1,068 |  |  | 11,648 |  |  | 14,187 |  |  | 1,278,394 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC |  | 2,437,982 |  |  | 23,816 |  |  | 11,645 |  |  | 2,473,443 |  |  | 68,785 |  |  | 5,784 |  |  | 10,283 |  |  | 84,852 |  |  | 2,558,295 |
R/E installment loans |  | 2,515,705 |  |  | 12,721 |  |  | 4,965 |  |  | 2,533,391 |  |  | 29,306 |  |  | 2,585 |  |  | 6,768 |  |  | 38,659 |  |  | 2,572,050 |
Purchased credit-impaired loans |  | 643 |  |  | - |  |  | - |  |  | 643 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 643 |
Total consumer real estate |  | 4,954,330 |  |  | 36,537 |  |  | 16,610 |  |  | 5,007,477 |  |  | 98,091 |  |  | 8,369 |  |  | 17,051 |  |  | 123,511 |  |  | 5,130,988 |
Permanent mortgage |  | 523,150 |  |  | 7,635 |  |  | 8,030 |  |  | 538,815 |  |  | 15,215 |  |  | 4,063 |  |  | 14,696 |  |  | 33,974 |  |  | 572,789 |
Credit card & other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit card |  | 184,650 |  |  | 1,900 |  |  | 1,822 |  |  | 188,372 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 188,372 |
Other |  | 162,088 |  |  | 1,190 |  |  | 164 |  |  | 163,442 |  |  | - |  |  | - |  |  | 692 |  |  | 692 |  |  | 164,134 |
Purchased credit-impaired loans |  | 11 |  |  | - |  |  | - |  |  | 11 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 11 |
Total credit card & other |  | 346,749 |  |  | 3,090 |  |  | 1,986 |  |  | 351,825 |  |  | - |  |  | - |  |  | 692 |  |  | 692 |  |  | 352,517 |
Total loans, net of unearned | $ | 15,511,957 |  | $ | 57,432 |  | $ | 28,882 |  | $ | 15,598,271 |  | $ | 129,765 |  | $ | 14,969 |  | $ | 69,012 |  | $ | 213,746 |  | $ | 15,812,017 |
Total TRUPS i nclu des LOCOM valuation allowance of $26.2 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 le nding 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 fin ancial 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 borrowe r may default in the foreseeable future. Many aspects of a borrower’s financial situation are assessed when determining whether they are experiencing financial difficulty, particularly as it relates to commercial borrowers due to the complex nature of loan structures, business/industry risk, and borrower/guarantor structures. Concessions could include extension of the maturity date, reductions of the interest rate (which may make the rate lower than current market for a new loan with similar risk), reductio n or forgiveness of accrued interest, or principal forgiveness. When evaluating whether a concession has been granted, FHN also considers whether the borrower has provided additional collateral or guarantors, among other things, and whether such additions adequately compensate FHN for the restructured terms. The assessments of whether a borrower is experiencing (or is likely to experience) financial difficulty and whether a concession has been granted is subjective in nature and management’s judgment is req uired 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 reduc ed 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 Affor dable 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 yea rs) and a possible maturity date extension to reach an affordable housing debt ratio. Permanent mortgage TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 2 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt ratio. After 5 years the interest rate steps up 1 percent every year thereafter until it reaches the Federal Home Loan Mortgage Corporation Weekly Survey Rate cap. Contractual maturities may be extended to 40 years on permanent mortgages and to 30 years for consumer real estate loans. Within the credit card class of the consumer portfolio segment, TDRs are typically modified through either a short-term credit card hardship program or a longer-ter m 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 classifie s all non-reaffirmed residential real es tate loans discharged in Chapter 7 bankruptcy as nonaccruing TDRs. On September 30, 2015 and 2014, FHN had $304.7 million and $346.0 million portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $51.2 million and $6 0.9 million, or 17 percent as of September 30, 2015, and 18 percent as of September 30, 2014. Additionally, $72.6 m illion and $83.1 million of loans held-for-sale as of September 30, 2015 and 2014, respectively were classified as TDRs.
The following tables reflect portfolio loans that were classified as TDRs during the three and nine months ended September 30, 2015 and 2014: |
|  | Three Months Ended September 30, 2015 |  | Nine Months Ended September 30, 2015 |
|  |  |  | Pre-Modification |  | Post-Modification |  |  |  | Pre-Modification |  | Post-Modification |
|  |  |  | Outstanding |  | Outstanding |  |  |  | Outstanding |  | Outstanding |
(Dollars in thousands) | Number |  | Recorded Investment |  | Recorded Investment |  | Number |  | Recorded Investment |  | Recorded Investment |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General C&I | - |  | $ | - |  | $ | - |  | 2 |  | $ | 1,388 |  | $ | 1,325 |
| Total commercial (C&I) | - |  |  | - |  |  | - |  | 2 |  |  | 1,388 |  |  | 1,325 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC | 56 |  |  | 6,918 |  |  | 6,820 |  | 158 |  |  | 17,882 |  |  | 17,674 |
R/E installment loans | 20 |  |  | 988 |  |  | 974 |  | 58 |  |  | 4,254 |  |  | 4,267 |
| Total consumer real estate | 76 |  |  | 7,906 |  |  | 7,794 |  | 216 |  |  | 22,136 |  |  | 21,941 |
Permanent mortgage | - |  |  | - |  |  | - |  | 6 |  |  | 2,039 |  |  | 2,054 |
Credit card & other | 3 |  |  | 11 |  |  | 10 |  | 15 |  |  | 59 |  |  | 56 |
Total troubled debt restructurings | 79 |  | $ | 7,917 |  | $ | 7,804 |  | 239 |  | $ | 25,622 |  | $ | 25,376 |
|  | Three Months Ended September 30, 2014 |  | Nine Months Ended September 30, 2014 |
|  |  |  | Pre-Modification |  | Post-Modification |  |  |  | Pre-Modification |  | Post-Modification |
|  |  |  | Outstanding |  | Outstanding |  |  |  | Outstanding |  | Outstanding |
(Dollars in thousands) | Number |  | Recorded Investment |  | Recorded Investment |  | Number |  | Recorded Investment |  | Recorded Investment |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General C&I | 2 |  | $ | 1,031 |  | $ | 970 |  | 4 |  | $ | 1,767 |  | $ | 1,492 |
| Total commercial (C&I) | 2 |  |  | 1,031 |  |  | 970 |  | 4 |  |  | 1,767 |  |  | 1,492 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income CRE | - |  |  | - |  |  | - |  | 2 |  |  | 421 |  |  | 421 |
Residential CRE | - |  |  | - |  |  | - |  | 1 |  |  | 976 |  |  | 960 |
| Total commercial real estate | - |  |  | - |  |  | - |  | 3 |  |  | 1,397 |  |  | 1,381 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC | 89 |  |  | 6,930 |  |  | 6,883 |  | 253 |  |  | 20,999 |  |  | 21,208 |
R/E installment loans | 21 |  |  | 1,269 |  |  | 1,255 |  | 138 |  |  | 9,544 |  |  | 9,450 |
| Total consumer real estate | 110 |  |  | 8,199 |  |  | 8,138 |  | 391 |  |  | 30,543 |  |  | 30,658 |
Permanent mortgage | 6 |  |  | 1,639 |  |  | 1,672 |  | 30 |  |  | 8,314 |  |  | 7,839 |
Credit card & other | 16 |  |  | 107 |  |  | 103 |  | 50 |  |  | 254 |  |  | 245 |
Total troubled debt restructurings | 134 |  | $ | 10,976 |  | $ | 10,883 |  | 478 |  | $ | 42,275 |  | $ | 41,615 |
The following tables present TDRs which re-defaulted during the three and nine months ended September 30, 2015 and 2014, and as to which the modification occurred 12 months or less prior to the re-default. Financing receivables that became classified as TDRs within the previous 12 months and for which there was a payment default during the period are calculated by first identifying TDRs that defaulted during the period and then determining whether they were modified within the 12 months prior to the default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due.
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, 2015 |  | September 30, 2015 |
|  |  |  | Recorded |  |  |  | Recorded |
(Dollars in thousands) | Number |  | Investment |  | Number |  | Investment |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |
General C&I | - |  | $ | - |  | - |  | $ | - |
| Total commercial (C&I) | - |  |  | - |  | - |  |  | - |
Commercial real estate: |  |  |  |  |  |  |  |  |  |
Income CRE | - |  |  | - |  | - |  |  | - |
Residential CRE | - |  |  | - |  | 1 |  |  | 896 |
| Total commercial real estate | - |  |  | - |  | 1 |  |  | 896 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |
HELOC | - |  |  | - |  | 7 |  |  | 308 |
R/E installment loans | 2 |  |  | 50 |  | 4 |  |  | 162 |
| Total consumer real estate | 2 |  |  | 50 |  | 11 |  |  | 470 |
Permanent mortgage | - |  |  | - |  | - |  |  | - |
Credit card & other | 1 |  |  | 2 |  | 4 |  |  | 10 |
Total troubled debt restructurings | 3 |  | $ | 52 |  | 16 |  | $ | 1,376 |
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, 2014 |  | September 30, 2014 |
|  |  |  | Recorded |  |  |  | Recorded |
(Dollars in thousands) | Number |  | Investment |  | Number |  | Investment |
Commercial (C&I): |  |  |  |  |  |  |  |  |  |
General C&I | 2 |  | $ | 59 |  | 4 |  | $ | 512 |
| Total commercial (C&I) | 2 |  |  | 59 |  | 4 |  |  | 512 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |
Income CRE | 1 |  |  | 2,570 |  | 3 |  |  | 2,959 |
Residential CRE | - |  |  | - |  | - |  |  | - |
| Total commercial real estate | 1 |  |  | 2,570 |  | 3 |  |  | 2,959 |
Consumer real estate: |  |  |  |  |  |  |  |  |  |
HELOC | 2 |  |  | 212 |  | 6 |  |  | 374 |
R/E installment loans | 1 |  |  | 132 |  | 8 |  |  | 500 |
| Total consumer real estate | 3 |  |  | 344 |  | 14 |  |  | 874 |
Permanent mortgage | 1 |  |  | 347 |  | 3 |  |  | 1,128 |
Credit card & other | - |  |  | - |  | 2 |  |  | 4 |
Total troubled debt restructurings | 7 |  | $ | 3,320 |  | 26 |  | $ | 5,477 |
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, a nonaccrual TDR that is reasonably assured of repayment according to its modified terms may be returned to accrual status by FHN upon a de tailed 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 borro wer’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 perfor mance 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 a restructured loan 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 t ime of modification.

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