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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Associated With Fixed Income Trading Activities
The following tables summarize FHN’s derivatives associated with fixed income trading activities as of June 30, 2018 and December 31, 2017:
 
 
 
June 30, 2018
(Dollars in thousands)
 
Notional
 
Assets
 
Liabilities
Customer interest rate contracts
 
$
2,204,706

 
$
9,837

 
$
48,272

Offsetting upstream interest rate contracts
 
2,204,706

 
46,619

 
9,676

Option contracts purchased
 
70,000

 
58

 
—

Forwards and futures purchased
 
5,466,761

 
16,942

 
1,902

Forwards and futures sold
 
5,556,237

 
2,185

 
16,836

 
 
 
December 31, 2017
(Dollars in thousands)
 
Notional
 
Assets
 
Liabilities
Customer interest rate contracts
 
$
2,026,753

 
$
22,097

 
$
18,323

Offsetting upstream interest rate contracts
 
2,026,753

 
17,931

 
20,720

Option contracts purchased
 
20,000

 
15

 
—

Forwards and futures purchased
 
6,257,140

 
4,354

 
5,526

Forwards and futures sold
 
6,292,012

 
5,806

 
4,010
Derivatives Associated With Interest Rate Risk Management Activities
The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of June 30, 2018 and December 31, 2017:
 
 
 
June 30, 2018
(Dollars in thousands)
 
Notional
 
Assets
 
Liabilities
Customer Interest Rate Contracts Hedging 
 
 
 
 
 
 
Hedging Instruments and Hedged Items: 
 
 
 
 
 
 
Customer interest rate contracts
 
$
1,843,573

 
$
6,180

 
$
42,760

Offsetting upstream interest rate contracts
 
1,843,573

 
40,026

 
6,383

Debt Hedging
 
 
 
 
 
 
Hedging Instruments:
 
 
 
 
 
 
Interest rate swaps
 
$
900,000

 
$
22

 
$
4

Hedged Items:
 
 
 
 
 
 
Term borrowings:
 
 
 
 
 
 
Par
 
N/A

 
N/A

 
$
900,000

Cumulative fair value hedging adjustments
 
N/A

 
N/A

 
(21,542
)
Unamortized premium/(discount) and issuance costs
 
N/A

 
N/A

 
(3,103
)
Total carrying value
 
N/A

 
N/A

 
875,355


 
 
December 31, 2017
(Dollars in thousands)
 
Notional
 
Assets
 
Liabilities
Customer Interest Rate Contracts Hedging
 
 
 
 
 
 
Hedging Instruments and Hedged Items: 
 
 
 
 
 
 
Customer interest rate contracts
 
$
1,608,912

 
$
11,644

 
$
19,780

Offsetting upstream interest rate contracts
 
1,608,912

 
18,473

 
11,019

Debt Hedging
 
 
 
 
 
 
Hedging Instruments:
 
 
 
 
 
 
Interest rate swaps
 
$
900,000

 
$
371

 
N/A

Hedged Items:
 
 
 
 
 
 
Term borrowings:
 
 
 
 
 
 
Par
 
N/A

 
N/A

 
$
900,000

Cumulative fair value hedging adjustments
 
N/A

 
N/A

 
(13,472
)
Unamortized premium/(discount) and issuance costs
 
N/A

 
N/A

 
(3,910
)
Total carrying value
 
N/A

 
N/A

 
$
882,618
Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities
The following table summarizes gains/(losses) on FHN’s derivatives associated with interest rate risk management activities for the three and six months ended June 30, 2018 and 2017:
 
 
Three Months Ended
June 30
 
Six Months Ended
June 30
 
 
2018
 
2017
 
2018
 
2017
(Dollars in thousands)
 
Gains/(Losses)
 
Gains/(Losses)
 
Gains/(Losses)
 
Gains/(Losses)
Customer Interest Rate Contracts Hedging
 
 
 
 
 
 
Hedging Instruments and Hedged Items:
 
 
 
 
 
 
 
 
Customer interest rate contracts (a)
 
$
(4,459
)
 
$
4,099

 
$
(29,183
)
 
$
823

Offsetting upstream interest rate contracts (a)
 
4,459

 
(4,099
)
 
29,183

 
(823
)
Debt Hedging
 
 
 
 
 
 
 
 
Hedging Instruments:
 
 
 
 
 
 
 
 
Interest rate swaps (b)
 
$
(1,545
)
 
$
1,808

 
$
(8,140
)
 
$
(992
)
Hedged Items:
 
 
 
 
 
 
 
 
Term borrowings (b) (c)
 
1,520

 
(1,804
)
 
8,070

 
929

 
(a)
Gains/losses included in All other expense within the Consolidated Condensed Statements of Income.
(b)
Gains/losses included in the Interest expense for 2018 and All other expense for 2017 within the Consolidated Condensed Statements of Income.
(c)
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.
Derivative Associated With Cash Flow Hedges
The following tables summarize FHN’s derivative activities associated with cash flow hedges as of June 30, 2018 and December 31, 2017:
 
 
 
June 30, 2018
(Dollars in thousands)
 
Notional
 
Assets
 
Liabilities
Cash Flow Hedges 
 
 
 
 
 
 
Hedging Instruments: 
 
 
 
 
 
 
Interest rate swaps
 
$
900,000

 
$
24

 
$
85

Hedged Items:
 
 
 
 
 
 
Variability in cash flows related to debt instruments (primarily loans)
 
N/A

 
$
900,000

 
N/A

 
 
 
December 31, 2017
(Dollars in thousands)
 
Notional
 
Assets
 
Liabilities
Cash Flow Hedges
 
 
 
 
 
 
Hedging Instruments: 
 
 
 
 
 
 
Interest rate swaps
 
$
900,000

 
$
942

 
N/A
Hedged Items:
 
 
 
 
 
 
Variability in cash flows related to debt instruments (primarily loans)
 
N/A

 
$
900,000

 
N/A

The following table summarizes gains/(losses) on FHN’s derivatives associated with cash flow hedges for the three and six months ended June 30, 2018 and 2017:
 
 
Three Months Ended
June 30
 
Six Months Ended
June 30
 
 
2018
 
2017
 
2018
 
2017
(Dollars in thousands)
 
Gains/(Losses)
 
Gains/(Losses)
 
Gains/(Losses)
 
Gains/(Losses)
Cash Flow Hedges
 
 
 
 
 
 
Hedging Instruments:
 
 
 
 
 
 
 
 
Interest rate swaps (a)
 
$
(3,914
)
 
$
3,491

 
$
(15,531
)
 
$
390

       Gain/(loss) recognized in Other comprehensive income/(loss)
 
(3,457
)
 
3,059

 
(12,095
)
 
1,997

       Gain/(loss) reclassified from AOCI into Interest income
 
463

 
(904
)
 
308

 
(1,756
)
 
(a)
Approximately $9.0 million of pre-tax losses are expected to be reclassified into earnings in the next twelve months.
Derivative Assets And Collateral Received
The following table provides details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017:
 
 
 
 
 
 
 
 
 
Gross amounts not offset in the
Statements of Condition
 
 
(Dollars in thousands)
 
Gross amounts
of recognized
assets
 
Gross amounts
offset in the
Statements of
Condition
 
Net amounts of
assets presented
in the Statements
of Condition (a)
 
Derivative
liabilities
available for
offset
 
Collateral
received
 
Net amount
Derivative assets:
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2018 (b)
 
$
102,852

 
$
—

 
$
102,852

 
$
(13,490
)
 
$
(89,317
)
 
$
45

December 31, 2017 (b)
 
71,458

 
—

 
71,458

 
(17,278
)
 
(51,271
)
 
2,909

 
(a)
Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017, $19.2 million and $10.2 million, respectively, of derivative assets (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
(b)
Amounts are comprised entirely of interest rate derivative contracts.
The following table provides details of Securities purchased under agreements to resell as presented on the Consolidated Condensed Statements of Condition and collateral pledged by counterparties as of June 30, 2018 and December 31, 2017:
 
 
 
 
 
 
 
 
 
Gross amounts not offset in the
Statements of Condition
 
 
(Dollars in thousands)
 
Gross amounts
of recognized
assets
 
Gross amounts
offset in the
Statements of
Condition
 
Net amounts of
assets presented
in the Statements
of Condition
 
Offsetting
securities sold
under agreements
to repurchase
 
Securities collateral
(not recognized on
FHN’s Statements
of Condition)
 
Net amount
Securities purchased under agreements to resell:
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2018
 
$
782,765

 
$
—

 
$
782,765

 
$
(2,090
)
 
$
(772,347
)
 
$
8,328

December 31, 2017
 
725,609

 
—

 
725,609

 
(259
)
 
(720,036
)
 
5,314
Derivative Liabilities and Collateral Pledged
The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of June 30, 2018 and December 31, 2017:
 
 
 
 
 
 
 
 
 
Gross amounts not offset in the
Statements of Condition
 
 
(Dollars in thousands)
 
Gross amounts
of recognized
liabilities
 
Gross amounts
offset in the
Statements of
Condition
 
Net amounts of
liabilities presented
in the Statements
of Condition (a)
 
Derivative
assets available
for offset
 
Collateral
pledged
 
Net amount
Derivative liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2018 (b)
 
$
107,178

 
$
—

 
$
107,178

 
$
(13,490
)
 
$
(65,689
)
 
$
27,999

December 31, 2017 (b)
 
69,842

 
—

 
69,842

 
(17,278
)
 
(51,801
)
 
763

 
(a)
Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2018 and December 31, 2017, $28.2 million and $15.2 million, respectively, of derivative liabilities (primarily fixed income forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
(b)
Amounts are comprised entirely of interest rate derivative contracts.
The following table provides details of Securities sold under agreements to repurchase as presented on the Consolidated Condensed Statements of Condition and collateral pledged by FHN as of June 30, 2018 and December 31, 2017:
 
 
 
 
 
 
 
 
 
Gross amounts not offset in the
Statements of Condition
 
 
(Dollars in thousands)
 
Gross amounts
of recognized
liabilities
 
Gross amounts
offset in the
Statements of
Condition
 
Net amounts of
liabilities presented
in the Statements
of Condition
 
Offsetting
securities
purchased under
agreements to resell
 
Securities/
government
guaranteed loans
collateral
 
Net amount
Securities sold under agreements to repurchase:
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2018
 
$
713,152

 
$
—

 
$
713,152

 
$
(2,090
)
 
$
(710,862
)
 
$
200

December 31, 2017
 
656,602

 
—

 
656,602

 
(259
)
 
(656,216
)
 
127