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Investment Securities | 12 Months Ended
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Dec. 31, 2017
Marketable Securities [Abstract] |
Investment Securities | Investment Securities The following tables summarize FHN’s investment securities on December 31, 2017 and 2016:
|  | December 31, 2017
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 100 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 99 |
Government agency issued mortgage-backed securities (“MBS”) |  | 2,580,442 |  |  | 10,538 |  |  | (13,604 | ) |  | 2,577,376 |
Government agency issued collateralized mortgage obligations (“CMO”) |  | 2,302,439 |  |  | 1,691 |  |  | (34,272 | ) |  | 2,269,858 |
Corporates and other debt |  | 55,799 |  |  | 23 |  |  | (40 | ) |  | 55,782 |
Equity and other (a) |  | 265,863 |  |  | 7 |  |  | — |  |  | 265,870 |
|  | $ | 5,204,643 |  |  | $ | 12,259 |  |  | $ | (47,917 | ) |  | 5,168,985 |
AFS debt securities recorded at fair value through earnings: |  |  |  |  |  |  |  |
SBA-interest only strips (b) |  |  |  |  |  |  |  | 1,270 |
Total securities available-for-sale (c) |  |  |  |  |  |  |  | $ | 5,170,255 |
Securities held-to-maturity: |  |  |  |  |  |  |  |
Corporates and other debt |  | $ | 10,000 |  |  | $ | — |  |  | $ | (99 | ) |  | $ | 9,901 |
Total securities held-to-maturity |  | $ | 10,000 |  |  | $ | — |  |  | $ | (99 | ) |  | $ | 9,901 |
(a) | Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $134.6 million. The remainder is money market, mutual funds, and cost method investments.
(b) | SBA-interest only strips are recorded at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information.
(c) | Includes $4.0 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
|  | December 31, 2016
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair 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 |
Corporates and other debt |  | 10,000 |  |  | 33 |  |  | — |  |  | 10,033 |
Total securities held-to-maturity |  | $ | 14,347 |  |  | $ | 426 |  |  | $ | — |  |  | $ | 14,773 |
(a) | 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.
(b) | Includes $3.3 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, 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 December 31, 2017 are provided below:
|  | Held-to-Maturity |  | Available-for-Sale
(Dollars in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Within 1 year |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
After 1 year; within 5 years |  | — |  |  | — |  |  | 55,899 |  |  | 55,900 |
After 5 years; within 10 years |  | 10,000 |  |  | 9,901 |  |  | — |  |  | 1,085 |
After 10 years |  | — |  |  | — |  |  | — |  |  | 166 |
Subtotal |  | 10,000 |  |  | 9,901 |  |  | 55,899 |  |  | 57,151 |
Government agency issued MBS and CMO (a) |  | — |  |  | — |  |  | 4,882,881 |  |  | 4,847,234 |
Equity and other |  | — |  |  | — |  |  | 265,863 |  |  | 265,870 |
Total |  | $ | 10,000 |  |  | $ | 9,901 |  |  | $ | 5,204,643 |  |  | $ | 5,170,255 |
(a) | 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 year ended December 31:
|  | Available-for-Sale
(Dollars in thousands) |  | 2017 |  | 2016 |  | 2015
Gross gains on sales of securities |  | $ | 2,514 |  |  | $ | 5,754 |  |  | $ | 5,630 |
Gross (losses) on sales of securities |  | (1,922 | ) |  | (4,213 | ) |  | (3,503 | )
Net gain/(loss) on sales of securities (a) (b) |  | 592 |  |  | 1,541 |  |  | 2,127 |
OTTI recorded (c) |  | — |  |  | (200 | ) |  | (749 | )
Total securities gain/(loss), net |  | $ | 592 |  |  | $ | 1,341 |  |  | $ | 1,378 |
(a) | Proceeds from sales during 2017, 2016 and 2015 were $937.0 million, $444.2 million and $69.7 million, respectively. 2016 includes a $1.5 million net gain from exchanges of approximately $736 million of AFS debt securities; 2015 includes a $1.8 million gain from an exchange of approximately $335 million of AFS debt securities.
(b) | 2017 includes a $.4 million gain associated with the call of a $4.4 million held-to-maturity municipal bond.
(c) | OTTI recorded is related to equity securities.
The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of December 31, 2017 and 2016:
|  | As of December 31, 2017
|  | Less than 12 months |  | 12 months or longer |  | Total
(Dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. treasuries |  | $ | 99 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 99 |  |  | $ | (1 | )
Government agency issued MBS |  | 1,455,476 |  |  | (4,738 | ) |  | 331,900 |  |  | (8,866 | ) |  | 1,787,376 |  |  | (13,604 | )
Government agency issued CMO |  | 1,043,987 |  |  | (7,464 | ) |  | 832,173 |  |  | (26,808 | ) |  | 1,876,160 |  |  | (34,272 | )
Corporates and other debt |  | 15,294 |  |  | (40 | ) |  | — |  |  | — |  |  | 15,294 |  |  | (40 | )
Total temporarily impaired securities |  | $ | 2,514,856 |  |  | $ | (12,243 | ) |  | $ | 1,164,073 |  |  | $ | (35,674 | ) |  | $ | 3,678,929 |  |  | $ | (47,917 | )
|  | As of December 31, 2016
|  | Less than 12 months |  | 12 months or longer |  | Total
(Dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Government agency issued MBS |  | $ | 1,912,126 |  |  | $ | (23,866 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,912,126 |  |  | $ | (23,866 | )
Government agency issued CMO |  | 1,059,471 |  |  | (19,052 | ) |  | 116,527 |  |  | (4,885 | ) |  | 1,175,998 |  |  | (23,937 | )
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 intent to hold these securities for the time necessary to recover the amortized cost.

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- 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 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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