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Investment Securities (Tables)
 9 Months Ended
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
)