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Variable Interest Entities (Tables) | 9 Months Ended
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Sep. 30, 2015
Variable Interest Entities [Abstract] |
Summary Of VIEs Consolidated By FHN |
The following table summarizes VIEs consolidated by FHN as of September 30, 2015 and 2014:
|  |  |  | September 30, 2015 |  | September 30, 2014 |
|  |  |  | On-Balance Sheet Consumer Loan Securitization |  | Rabbi Trusts Used for Deferred Compensation Plans |  | On-Balance Sheet Consumer Loan Securitization |  | Rabbi Trusts Used for Deferred Compensation Plans |
(Dollars in thousands) |  | Carrying Value |  | Carrying Value |  | Carrying Value |  | Carrying Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  |  | $ | 2,000 |  |  |  | N/A |  |  | $ | 300 |  |  |  | N/A |
Loans, net of unearned income |  |  |  | 59,258 |  |  |  | N/A |  |  |  | 81,111 |  |  |  | N/A |
| Less: Allowance for loan losses |  |  |  | 54 |  |  |  | N/A |  |  |  | 812 |  |  |  | N/A |
|  | Total net loans |  |  |  | 59,204 |  |  |  | N/A |  |  |  | 80,299 |  |  |  | N/A |
Other assets |  |  |  | 114 |  |  | $ | 66,490 |  |  |  | 438 |  |  | $ | 66,290 |
Total assets |  |  | $ | 61,318 |  |  | $ | 66,490 |  |  | $ | 81,037 |  |  | $ | 66,290 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term borrowings |  |  | $ | 48,491 |  |  |  | N/A |  |  | $ | 70,720 |  |  |  | N/A |
Other liabilities |  |  |  | 3 |  |  | $ | 49,275 |  |  |  | 4 |  |  | $ | 50,477 |
Total liabilities |  |  | $ | 48,494 |  |  | $ | 49,275 |  |  | $ | 70,724 |  |  | $ | 50,477 |
Summary of the Impact of Qualifying LIHTC Investments |
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30 |  | September 30 |  |
(Dollars in thousands) |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Provision/(benefit) for income taxes: |  |  |  |  |  |  |  |  |  |
Amortization of qualifying LIHTC investments | $ | 2,293 | $ | 2,470 | $ | 6,653 | $ | 7,410 |  |
Low income housing tax credits |  | (2,363) |  | (2,462) |  | (7,089) |  | (7,387) |  |
Other tax benefits related to qualifying LIHTC investments |  | (819) |  | (1,859) |  | (2,418) |  | (5,578) |  |
Summary Of VIEs Not Consolidated By FHN |
The following table summarizes FHN’s nonconsolidated VIEs as of September 30, 2015: |
|  | Maximum |  | Liability |  |  |
(Dollars in thousands) |  | Loss Exposure | Recognized | Classification |
Type |  |  |  |  |  |  |  |  |  |
Low income housing partnerships |  | $ | 76,982 |  |  | $ | 22,224 |  | (a) |
Other Tax Credit Investments (b) (c) |  |  | 21,359 |  |  |  | - |  | Other assets |
Small issuer trust preferred holdings (d) |  |  | 344,291 |  |  |  | - |  | Loans, net of unearned income |
On-balance sheet trust preferred securitization |  |  | 50,037 |  |  |  | 64,137 |  | (e) |
Proprietary and agency residential mortgage securitizations |  |  | 25,105 |  |  |  | - |  | (g) |
Holdings of agency mortgage-backed securities (d) |  |  | 4,030,604 |  |  |  | - |  | (h) |
Short positions in agency mortgage-backed securities (f) |  |  | N/A |  |  |  | 896 |  | Trading liabilities |
Commercial loan troubled debt restructurings (i) (j) |  |  | 29,280 |  |  |  | - |  | Loans, net of unearned income |
Managed discretionary trusts (f) |  |  | N/A |  |  |  | N/A |  | N/A |
Maximum loss exposure represents $54.8 million of current investments and $22.2 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. A lia bility is not recognized as investments are written down over the life of the related tax credit. Maximum loss exposure represe nts current investment balance. Of the initial investment, $1 8.0 million was funded through loans from community development enterprises. Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a ho lder of the trusts’ securities. Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $64.1 million classified as Term borrowings. No exposure to loss due to the nature of FHN’s involvement. Includes $.6 million classified as MSR related to proprietary and agency residential mortgage securitizations and $4.6 million classified as Trading securities related to proprietary residential mortgage securitizations. Aggregate servi cing advances of $19.9 million are classified as Other assets. Includes $549.2 million classified as Trading securities and $3.5 billion cla ssified as Securities available-for-sale. Maximum loss exposure represents $29.2 million of current receivables and $.1 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowers’ operati ons.
The following table summarizes FHN's nonconsolidated VIEs as of September 30, 2014:
|  | Maximum |  | Liability |  |  |
(Dollars in thousands) |  | Loss Exposure | Recognized | Classification |
Type |  |  |  |  |  |  |  |  |
Low income housing partnerships |  | $ | 63,921 |  | $ | 5,937 |  | (a) |
Other Tax Credit Investments (b) (c) |  |  | 22,077 |  |  | - |  | Other assets |
Small issuer trust preferred holdings (d) |  |  | 364,912 |  |  | - |  | Loans, net of unearned income |
On-balance sheet trust preferred securitization |  |  | 52,320 |  |  | 61,853 |  | (e) |
Proprietary trust preferred issuances (f) |  |  | N/A |  |  | 206,186 |  | Term borrowings |
Proprietary and agency residential mortgage securitizations |  |  | 26,973 |  |  | - |  | (g) |
Holdings of agency mortgage-backed securities (d) |  |  | 3,843,125 |  |  | - |  | (h) |
Commercial loan troubled debt restructurings (i) (j) |  |  | 55,539 |  |  | - |  | Loans, net of unearned income |
Managed discretionary trusts (f) |  |  | N/A |  |  | N/A |  | N/A |
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1—Financial Information for additional information. Maximum loss exposure represents $58.0 million of current investments and $5.9 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for futu re funding events, and are also recognized in Other Liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2016. A liability is not recognized as investments are written down over the life of the related tax credi t. Maximum loss exposure represents current investment balance. Of the initial investment, $18.0 million was funded through loans from community development enterprises. Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. Includes $112.5 million classified as Loans, net of unearned income, and $1.7 million classified as Trading securities which are offset by $61.9 million classified as Term borrowings. No expos ure to loss due to the nature of FHN’s involveme nt. Includes $.9 million classified as MSR related to proprietary and agency residential mortgage securitizations and $6.1 million classified as Trading securities related to proprietary and agency residentia l mortga ge securitizations. Aggregate servicing advances of $19.9 million are classified as Other assets. Includes $502.6 million classified as Trading securities and $3.3 billion cla ssified as Securities available-for-sale. Maximum loss exposure represent s $52.4 million of current receivables and $3.1 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. A liability is not recognized as the loans are the only variable interests held in the troubled commercial borrowers’ operations.

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- Definition Summary of the impact of qualifying LIHTC investments on the provision/(benefit) for income taxes. + References No definition available. + Details
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