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Variable Interest Entities (Tables) | 3 Months Ended
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Mar. 31, 2017
Variable Interest Entities [Abstract] |
Summary Of VIEs Consolidated By FHN |
The following table summarizes VIEs consolidated by FHN as of March 31, 2017 and December 31, 2016:
|  |  |  | March 31, 2017 |  | December 31, 2016 |
|  |  |  | On-Balance Sheet Consumer Loan Securitization |  | Rabbi Trusts Used for Deferred Compensation Plans |  | On-Balance Sheet Consumer Loan Securitization |  | Rabbi Trusts Used for Deferred Compensation Plans |
(Dollars in thousands) |  | Carrying Value |  | Carrying Value |  | Carrying Value |  | Carrying Value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  |  | $ | - |  |  |  | N/A |  |  | $ | - |  |  |  | N/A |
Loans, net of unearned income |  |  |  | 32,486 |  |  |  | N/A |  |  |  | 35,873 |  |  |  | N/A |
| Less: Allowance for loan losses |  |  |  | 244 |  |  |  | N/A |  |  |  | 587 |  |  |  | N/A |
|  | Total net loans |  |  |  | 32,242 |  |  |  | N/A |  |  |  | 35,286 |  |  |  | N/A |
Other assets |  |  |  | 150 |  |  | $ | 76,149 |  |  |  | 283 |  |  | $ | 74,160 |
Total assets |  |  | $ | 32,392 |  |  | $ | 76,149 |  |  | $ | 35,569 |  |  | $ | 74,160 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term borrowings |  |  | $ | 19,819 |  |  |  | N/A |  |  | $ | 23,126 |  |  |  | N/A |
Other liabilities |  |  |  | 3 |  |  | $ | 57,559 |  |  |  | 3 |  |  | $ | 54,746 |
Total liabilities |  |  | $ | 19,822 |  |  | $ | 57,559 |  |  | $ | 23,129 |  |  | $ | 54,746 |
Summary of the Impact of Qualifying LIHTC Investments |
|  | Three Months Ended |  |  | Three Months Ended |  |
(Dollars in thousands) | March 31, 2017 |  | March 31, 2016 |
Provision/(benefit) for income taxes: |  |  |  |  |  |  |  |  |
Amortization of qualifying LIHTC investments |  | $ | 2,278 |  |  | $ | 2,298 |  |
Low income housing tax credits |  |  | (2,400) |  |  |  | (2,523) |  |
Other tax benefits related to qualifying LIHTC investments |  |  | (919) |  |  |  | (1,110) |  |
Summary Of VIEs Not Consolidated By FHN |
The following table summarizes FHN’s nonconsolidated VIEs as of March 31, 2017: |
|  | Maximum |  | Liability |  |  |
(Dollars in thousands) |  | Loss Exposure | Recognized | Classification |
Type |  |  |  |  |  |  |  |  |  |
Low income housing partnerships |  | $ | 71,114 |  |  | $ | 14,749 |  | (a) |
Other tax credit investments (b) (c) |  |  | 21,210 |  |  |  | - |  | Other assets |
Small issuer trust preferred holdings (d) |  |  | 332,959 |  |  |  | - |  | Loans, net of unearned income |
On-balance sheet trust preferred securitization |  |  | 49,361 |  |  |  | 64,812 |  | (e) |
Proprietary residential mortgage securitizations |  |  | 2,330 |  |  |  | - |  | Trading securities |
Holdings of agency mortgage-backed securities (d) |  |  | 4,289,239 |  |  |  | - |  | (f) |
Commercial loan troubled debt restructurings (g) |  |  | 35,295 |  |  |  | - |  | Loans, net of unearned income |
Sale-leaseback transaction |  |  | 14,827 |  |  |  | - |  | (h) |
Maximum loss exposure represents $56.4 million of current investments and $14.7 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 2017. 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, $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 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 $64.8 million classified as Term borrowings. Includes $.5 b illion classified as Trading securities and $3.8 billion cla ssified as Securities available-for-sale. Ma ximum loss exposure represents $34.5 million of current receivables and $.8 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor.
The following table summarizes FHN's nonconsolidated VIEs as of December 31, 2016:
|  | Maximum |  | Liability |  |  |
(Dollars in thousands) |  | Loss Exposure | Recognized | Classification |
Type |  |  |  |  |  |  |  |  |
Low income housing partnerships |  | $ | 73,582 |  | $ | 17,398 |  | (a) |
Other tax credit investments (b) (c) |  |  | 21,898 |  |  | - |  | Other assets |
Small issuer trust preferred holdings (d) |  |  | 332,985 |  |  | - |  | Loans, net of unearned income |
On-balance sheet trust preferred securitization |  |  | 49,361 |  |  | 64,812 |  | (e) |
Proprietary residential mortgage securitizations |  |  | 2,568 |  |  | - |  | Trading securities |
Holdings of agency mortgage-backed securities (d) |  |  | 4,163,313 |  |  | - |  | (f) |
Commercial loan troubled debt restructurings (g) |  |  | 42,696 |  |  | - |  | Loans, net of unearned income |
Sale-leaseback transaction |  |  | 11,827 |  |  | - |  | (h) |
Maximum loss exposure represents $56.2 million of current investments and $17.4 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 2017. A liability 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, $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 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 $64.8 million classified as Term borrowings. Includes $.4 b illion classified as Tradi ng securities and $3.8 billion cla ssified as Securities available-for-sale. Maximum loss exposure represents $37.5 million of current receivables and $5.2 million of contractual funding commitments on loans related to commercial borrowers involved in a tro ubled debt restructuring. Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor.

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