XML 28 R12.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Investment Securities | 3 Months Ended
--- | ---
Mar. 31, 2017
Investment Securities [Abstract] |
Investment Securities | Note 3 – Investment Securities
The following tables summarize FHN’s investment securities on March 31, 2017 and December 31, 2016: |
| March 31, 2017 |
|  |  |  | Gross |  | Gross |  |  |  |
| Amortized | Unrealized | Unrealized | Fair
(Dollars in thousands) | Cost | Gains | Losses | Value
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasuries | $ | 100 |  | $ | - |  | $ | - |  | $ | 100 |
Government agency issued mortgage-backed securities ("MBS") |  | 2,171,843 |  |  | 13,675 |  |  | (25,596) |  |  | 2,159,922 |
Government agency issued collateralized mortgage obligations ("CMO") |  | 1,610,857 |  |  | 4,980 |  |  | (23,526) |  |  | 1,592,311 |
Equity and other (a) |  | 186,948 |  |  | - |  |  | (3) |  |  | 186,945 |
Total securities available-for-sale (b) | $ | 3,969,748 |  | $ | 18,655 |  | $ | (49,125) |  | $ | 3,939,278 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
States and municipalities | $ | 4,354 |  | $ | 386 |  | $ | - |  | $ | 4,740 |
Corporate bonds |  | 10,000 |  |  | 63 |  |  | - |  |  | 10,063 |
Total securities held-to-maturity | $ | 14,354 |  | $ | 449 |  | $ | - |  | $ | 14,803 |
Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $68.6 million. The remainder is money market, mutual funds, and cost method investments. Includes $3.5 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
| December 31, 2016 |
|  |  |  | Gross |  | Gross |  |  |  |
| Amortized | Unrealized | Unrealized | Fair
(Dollars in thousands) | Cost | Gains | Losses | Value
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasuries | $ | 100 |  | $ | - |  | $ | - |  | $ | 100 |
Government agency issued MBS |  | 2,217,593 |  |  | 14,960 |  |  | (23,866) |  |  | 2,208,687 |
Government agency issued CMO |  | 1,566,986 |  |  | 4,909 |  |  | (23,937) |  |  | 1,547,958 |
Equity and other (a) |  | 186,756 |  |  | - |  |  | (2) |  |  | 186,754 |
Total securities available-for-sale (b) | $ | 3,971,435 |  | $ | 19,869 |  | $ | (47,805) |  | $ | 3,943,499 |
Securities held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
States and municipalities | $ | 4,347 |  | $ | 393 |  | $ | - |  | $ | 4,740 |
Corporate bonds |  | 10,000 |  |  | 33 |  |  | - |  |  | 10,033 |
Total securities held-to-maturity | $ | 14,347 |  | $ | 426 |  | $ | - |  | $ | 14,773 |
Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $68.6 million. The remainder is money market, mutual funds, and cost method investments. Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repu rchase, and for other purposes.
The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity securities portfolios on March 31, 2017 are provided below: |
|  | Held-to-Maturity |  | Available-for-Sale |
|  | Amortized |  | Fair |  | Amortized |  | Fair |
(Dollars in thousands) | Cost | Value |  | Cost | Value
Within 1 year | $ | - |  | $ | - |  | $ | 100 |  | $ | 100 |
After 1 year; within 5 years |  | - |  |  | - |  |  | - |  |  | - |
After 5 years; within 10 years |  | 10,000 |  |  | 10,063 |  |  | - |  |  | - |
After 10 years |  | 4,354 |  |  | 4,740 |  |  | - |  |  | - |
| Subtotal |  | 14,354 |  |  | 14,803 |  |  | 100 |  |  | 100 |
Government agency issued MBS and CMO (a) |  | - |  |  | - |  |  | 3,782,700 |  |  | 3,752,233 |
Equity and other |  | - |  |  | - |  |  | 186,948 |  |  | 186,945 |
Total | $ | 14,354 |  | $ | 14,803 |  | $ | 3,969,748 |  | $ | 3,939,278 |
Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
The table below provides information on gross gains and gross losses from investment securities for the three months ended March 31:
| Available-for-sale |
(Dollars in thousands) | 2017 |  | 2016 |
Gross gains on sales of securities | $ | 44 |  | $ | 3,837 |
Gross (losses) on sales of securities |  | - |  |  | (2,263) |
Net gain/(loss) on sales of securities (a) | $ | 44 |  | $ | 1,574 |
Cash proceeds for the three months ended March 31, 2017 were not material. Cash proceeds for the three months ended March 31, 2016 were $1.0 million. 2016 includes a $1.7 million gain from an exchange of approximately $294 million of AFS debt securities.
The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of March 31, 2017 and December 31, 2016: |
| As of March 31, 2017 |
| Less than 12 months |  | 12 months or longer |  | Total |
| Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
(Dollars in thousands) | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses |
Government agency issued CMO | $ | 1,068,010 |  | $ | (18,525) |  | $ | 111,813 |  | $ | (5,001) |  | $ | 1,179,823 |  | $ | (23,526) |
Government agency issued MBS |  | 1,846,348 |  |  | (25,596) |  |  | - |  |  | - |  |  | 1,846,348 |  |  | (25,596) |
Total debt securities |  | 2,914,358 |  |  | (44,121) |  |  | 111,813 |  |  | (5,001) |  |  | 3,026,171 |  |  | (49,122) |
Equity |  | 6 |  |  | (3) |  |  | - |  |  | - |  |  | 6 |  |  | (3) |
Total temporarily impaired securities | $ | 2,914,364 |  | $ | (44,124) |  | $ | 111,813 |  | $ | (5,001) |  | $ | 3,026,177 |  | $ | (49,125) |
| As of December 31, 2016 |
| Less than 12 months |  | 12 months or longer |  | Total |
| Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
(Dollars in thousands) | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses |
Government agency issued CMO | $ | 1,059,471 |  | $ | (19,052) |  | $ | 116,527 |  | $ | (4,885) |  | $ | 1,175,998 |  | $ | (23,937) |
Government agency issued MBS |  | 1,912,126 |  |  | (23,866) |  |  | - |  |  | - |  |  | 1,912,126 |  |  | (23,866) |
Total debt securities |  | 2,971,597 |  |  | (42,918) |  |  | 116,527 |  |  | (4,885) |  |  | 3,088,124 |  |  | (47,803) |
Equity |  | 7 |  |  | (2) |  |  | - |  |  | - |  |  | 7 |  |  | (2) |
Total temporarily impaired securities | $ | 2,971,604 |  | $ | (42,920) |  | $ | 116,527 |  | $ | (4,885) |  | $ | 3,088,131 |  | $ | (47,805) |
FHN has reviewed investment securities that were in unrealized loss positions in accordance with its accounting policy for OTTI and does not consider them other-than-temporarily impaired. For debt securities with unrealized losses, FHN does not intend to sell them and it is more-likely-than-not that FHN will not be required to sell them prior to recovery. The decline in value is primarily attributable to changes in interest rates and not credit losses. For equity securities, FHN has both the ability and in tent to hold these securities for the time necessary to recover the amortized cost.

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration