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Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract] |
Schedule of FHN's Investment Securities | The following tables summarize FHN’s investment securities on September 30, 2018 and December 31, 2017:
|  | September 30, 2018
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 100 |  |  | $ | — |  |  | $ | (2 | ) |  | $ | 98 |
Government agency issued mortgage-backed securities (“MBS”) |  | 2,504,101 |  |  | 2,987 |  |  | (92,211 | ) |  | 2,414,877 |
Government agency issued collateralized mortgage obligations (“CMO”) |  | 2,077,326 |  |  | 216 |  |  | (86,358 | ) |  | 1,991,184 |
Other U.S. government agencies |  | 114,053 |  |  | — |  |  | (965 | ) |  | 113,088 |
Corporates and other debt |  | 55,495 |  |  | 270 |  |  | (691 | ) |  | 55,074 |
States and municipalities |  | 24,151 |  |  | — |  |  | (450 | ) |  | 23,701 |
|  | $ | 4,775,226 |  |  | $ | 3,473 |  |  | $ | (180,677 | ) |  | 4,598,022 |
AFS debt securities recorded at fair value through earnings: |  |  |  |  |  |  |  |
SBA-interest only strips (a) |  |  |  |  |  |  |  | 10,361 |
Total securities available-for-sale (b) |  |  |  |  |  |  |  | $ | 4,608,383 |
Securities held-to-maturity: |  |  |  |  |  |  |  |
Corporates and other debt |  | $ | 10,000 |  |  | $ | — |  |  | $ | (244 | ) |  | $ | 9,756 |
Total securities held-to-maturity |  | $ | 10,000 |  |  | $ | — |  |  | $ | (244 | ) |  | $ | 9,756 |
(a) | SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information.
(b) | Includes $3.6 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
|  | 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 MBS |  | 2,580,442 |  |  | 10,538 |  |  | (13,604 | ) |  | 2,577,376 |
Government agency issued 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. Equity investments were reclassified to Other assets upon adoption of ASU 2016-01 on January 1, 2018.
(b) | SBA-interest only strips are recorded at elected fair value. See Note 16 - 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.
Schedule of Amortized Cost And Fair Value By Contractual Maturity | The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity debt securities portfolios on September 30, 2018 are provided below:
|  | Held-to-Maturity |  | Available-for-Sale
(Dollars in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Within 1 year |  | $ | — |  |  | $ | — |  |  | $ | 15,188 |  |  | $ | 15,025 |
After 1 year; within 5 years |  | — |  |  | — |  |  | 154,460 |  |  | 153,261 |
After 5 years; within 10 years |  | 10,000 |  |  | 9,756 |  |  | — |  |  | 3,741 |
After 10 years |  | — |  |  | — |  |  | 24,151 |  |  | 30,295 |
Subtotal |  | 10,000 |  |  | 9,756 |  |  | 193,799 |  |  | 202,322 |
Government agency issued MBS and CMO (a) |  | — |  |  | — |  |  | 4,581,427 |  |  | 4,406,061 |
Total |  | $ | 10,000 |  |  | $ | 9,756 |  |  | $ | 4,775,226 |  |  | $ | 4,608,383 |
(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.
Schedule of Gross Gains And Losses On Sale From Available For Sale Portfolio | The table below provides information on gross gains and gross losses from debt investment securities for the three and nine months ended September 30, 2018. Equity securities are included for periods prior to 2018.
|  | Three Months Ended September 30 |  | Nine Months Ended September 30
(Dollars in thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Gross gains on sales of securities |  | $ | — |  |  | $ | 6 |  |  | $ | 52 |  |  | $ | 455 |
Gross (losses) on sales of securities |  | — |  |  | — |  |  | — |  |  | — |
Net gain/(loss) on sales of securities (a) (b) |  | $ | — |  |  | $ | 6 |  |  | $ | 52 |  |  | $ | 455 |
(a) | Cash proceeds from the sale of available-for-sale securities for the three and nine months ended September 30, 2018 and 2017 were not material.
(b) | Nine months ended September 30, 2017 includes a $.4 million gain associated with the call of a $4.4 million held-to-maturity municipal bond.
Schedule of Investments Within The Available For Sale Portfolio That Had Unrealized Losses | The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of September 30, 2018 and December 31, 2017:
|  | As of September 30, 2018
|  | 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 |  | $ | — |  |  | $ | — |  |  | $ | 98 |  |  | $ | (2 | ) |  | $ | 98 |  |  | $ | (2 | )
Government agency issued MBS |  | 1,500,317 |  |  | (52,607 | ) |  | 732,470 |  |  | (39,604 | ) |  | 2,232,787 |  |  | (92,211 | )
Government agency issued CMO |  | 1,000,444 |  |  | (28,664 | ) |  | 963,763 |  |  | (57,694 | ) |  | 1,964,207 |  |  | (86,358 | )
Other U.S. government agencies |  | 113,088 |  |  | (965 | ) |  | — |  |  | — |  |  | 113,088 |  |  | (965 | )
Corporates and other debt |  | 40,024 |  |  | (691 | ) |  | — |  |  | — |  |  | 40,024 |  |  | (691 | )
States and municipalities |  | 23,701 |  |  | (450 | ) |  | — |  |  | — |  |  | 23,701 |  |  | (450 | )
Total temporarily impaired securities |  | $ | 2,677,574 |  |  | $ | (83,377 | ) |  | $ | 1,696,331 |  |  | $ | (97,300 | ) |  | $ | 4,373,905 |  |  | $ | (180,677 | )
|  | 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 | )

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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