Fair Value of Assets & Liabilities (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of September 30, 2018:

	September 30, 2018
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Trading securities—fixed income:
U.S. treasuries	$	—	$	121,490	$	—	$	121,490
Government agency issued MBS	—		235,403		—		235,403
Government agency issued CMO	—		568,344		—		568,344
Other U.S. government agencies	—		43,642		—		43,642
States and municipalities	—		54,669		—		54,669
Corporates and other debt	—		866,128		—		866,128
Equity, mutual funds, and other	—		39,723		—		39,723
Total trading securities—fixed income	—		1,929,399		—		1,929,399
Trading securities—mortgage banking	—		—		1,592		1,592
Loans held-for-sale (elected fair value)	—		182		16,236		16,418
Securities available-for-sale:
U.S. treasuries	—		98		—		98
Government agency issued MBS	—		2,414,877		—		2,414,877
Government agency issued CMO	—		1,991,184		—		1,991,184
Other U.S. government agencies	—		113,088		—		113,088
States and municipalities	—		23,701		—		23,701
Corporates and other debt	—		55,074		—		55,074
Interest-only strips (elected fair value)	—		—		10,361		10,361
Total securities available-for-sale	—		4,598,022		10,361		4,608,383
Other assets:
Deferred compensation mutual funds	40,912		—		—		40,912
Equity, mutual funds, and other	22,141		—		—		22,141
Derivatives, forwards and futures	20,013		—		—		20,013
Derivatives, interest rate contracts	—		34,333		—		34,333
Derivatives, other	—		130		—		130
Total other assets	83,066		34,463		—		117,529
Total assets	$	83,066	$	6,562,066	$	28,189	$	6,673,321
Trading liabilities—fixed income:
U.S. treasuries	$	—	$	574,897	$	—	$	574,897
States and municipalities	—		110		—		110
Corporates and other debt	—		164,687		—		164,687
Total trading liabilities—fixed income	—		739,694		—		739,694
Other liabilities:
Derivatives, forwards and futures	18,770		—		—		18,770
Derivatives, interest rate contracts	—		117,236		—		117,236
Derivatives, other	—		106		34,212		34,318
Total other liabilities	18,770		117,342		34,212		170,324
Total liabilities	$	18,770	$	857,036	$	34,212	$	910,018

The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2017:

	December 31, 2017
(Dollars in thousands)	Level 1		Level 2			Level 3		Total
Trading securities—fixed income:
U.S. treasuries	$	—	$	128,995		$	—	$	128,995
Government agency issued MBS	—		227,038			—		227,038
Government agency issued CMO	—		275,014			—		275,014
Other U.S. government agencies	—		54,699			—		54,699
States and municipalities	—		34,573			—		34,573
Corporates and other debt	—		693,877			—		693,877
Equity, mutual funds, and other	—		(2		)	—		(2		)
Total trading securities—fixed income	—		1,414,194			—		1,414,194
Trading securities—mortgage banking	—		—			2,151		2,151
Loans held-for-sale	—		1,955			18,926		20,881
Securities available-for-sale:
U.S. treasuries	—		99			—		99
Government agency issued MBS	—		2,577,376			—		2,577,376
Government agency issued CMO	—		2,269,858			—		2,269,858
Corporates and other debt	—		55,782			—		55,782
Interest-only strips	—		—			1,270		1,270
Equity, mutual funds, and other	27,017		—			—		27,017
Total securities available-for-sale	27,017		4,903,115			1,270		4,931,402
Other assets:
Deferred compensation assets	39,822		—			—		39,822
Derivatives, forwards and futures	10,161		—			—		10,161
Derivatives, interest rate contracts	—		71,473			—		71,473
Total other assets	49,983		71,473			—		121,456
Total assets	$	77,000	$	6,390,737		$	22,347	$	6,490,084
Trading liabilities—fixed income:
U.S. treasuries	$	—	$	506,679		$	—	$	506,679
Corporates and other debt	—		131,836			—		131,836
Total trading liabilities—fixed income	—		638,515			—		638,515
Other liabilities:
Derivatives, forwards and futures	9,535		—			—		9,535
Derivatives, interest rate contracts	—		69,842			—		69,842
Derivatives, other	—		39			5,645		5,684
Total other liabilities	9,535		69,881			5,645		85,061
Total liabilities	$	9,535	$	708,396		$	5,645	$	723,576

Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value

The changes in Level 3 assets and liabilities measured at fair value for the three months ended September 30, 2018 and 2017, on a recurring basis are summarized as follows:

	Three Months Ended September 30, 2018
(Dollars in thousands)	Trading securities				Interest- only strips- AFS				Loans held- for-sale				Net  derivative liabilities
Balance on July 1, 2018	$	1,724			$	5,787			$	16,718			$	(9,425	)
Total net gains/(losses) included in:
Net income	33				(456		)		277				(529		)
Purchases	—				—				—				(28,100		)	(e)
Sales	—				(2,034		)		—				—
Settlements	(165		)		—				(759		)		3,842
Net transfers into/(out of) Level 3	—				7,064			(b)	—			(d)	—
Balance on September 30, 2018	$	1,592			$	10,361			$	16,236			$	(34,212	)
Net unrealized gains/(losses) included in net income	$	(3	)	(a)	$	(215	)	(c)	$	277		(a)	$	(530	)	(f)

	Three Months Ended September 30, 2017
(Dollars in thousands)	Trading securities				Interest-only strips-AFS				Loans  held-for-sale				Net  derivative liabilities
Balance on July 1, 2017	$	2,464			$	1,163			$	20,587			$	(5,700	)
Total net gains/(losses) included in:
Net income	92				(160		)		390				(129		)
Purchases	—				—				43				—
Settlements	(251		)		—				(939		)		299
Net transfers into/(out of) Level 3	—				2,120			(b)	—			(d)	—
Balance on September 30, 2017	$	2,305			$	3,123			$	20,081			$	(5,530	)
Net unrealized gains/(losses) included in net income	$	62		(a)	$	(72	)	(c)	$	390		(a)	$	(129	)	(f)

(a) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income.

(b) Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held-for-sale (Level 2 nonrecurring).

(c) Primarily included in fixed income on the Consolidated Condensed Statements of Income.

(d) Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into OREO (level 3 nonrecurring).

(e) Increase related to newly executed Visa-related derivatives, see Note 14- Derivatives for additional discussion.

(f) Included in Other expense.

Changes in Recurring Level 3 Fair Value Measurements

The changes in Level 3 assets and liabilities measured at fair value for the nine months ended September 30, 2018 and 2017, on a recurring basis are summarized as follows:

	Nine Months Ended September 30, 2018
(Dollars in thousands)	Trading securities				Interest- only strips- AFS				Loans held- for-sale				Net  derivative liabilities
Balance on January 1, 2018	$	2,151			$	1,270			$	18,926			$	(5,645	)
Total net gains/(losses) included in:
Net income	173				840				986				(4,904		)
Purchases	—				—				62				(28,100		)	(e)
Sales	—				(11,227		)		—				—
Settlements	(732		)		—				(3,382		)		4,437
Net transfers into/(out of) Level 3	—				19,478			(b)	(356		)	(d)	—
Balance on September 30, 2018	$	1,592			$	10,361			$	16,236			$	(34,212	)
Net unrealized gains/(losses) included in net income	$	59		(a)	$	(279	)	(c)	$	986		(a)	$	(4,904	)	(f)

	Nine Months Ended September 30, 2017
(Dollars in thousands)	Trading securities				Interest-only-strips- AFS				Loans held- for-sale				Net  derivative liabilities
Balance on January 1, 2017	$	2,573			$	—			$	21,924			$	(6,245	)
Total net gains/(losses) included in:
Net income	380				107				1,722				(179		)
Purchases	—				1,413				118				—
Sales	—				(3,291		)		—				—
Settlements	(648		)		—				(3,340		)		894
Net transfers into/(out of) Level 3	—				4,894			(b)	(343		)	(d)	—
Balance on September 30, 2017	$	2,305			$	3,123			$	20,081			$	(5,530	)
Net unrealized gains/(losses) included in net income	$	264		(a)	$	(122	)	(c)	$	1,722		(a)	$	(179	)	(f)

(a) Primarily included in mortgage banking income on the Consolidated Condensed Statements of Income.

(b) Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held-for-sale (Level 2 nonrecurring).

(c) Primarily included in fixed income on the Consolidated Condensed Statements of Income.

(d) Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into OREO (level 3 nonrecurring).

(e) Increase related to newly executed Visa-related derivatives, see Note 14- Derivatives for additional discussion.

(f) Included in Other expense.

Nonrecurring Fair Value Measurements

For assets measured at fair value on a nonrecurring basis which were still held on the balance sheet at September 30, 2018, and December 31, 2017, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.

	Carrying value at September 30, 2018
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Loans held-for-sale—SBAs and USDA	$	—	$	618,142	$	1,018	$	619,160
Loans held-for-sale—first mortgages	—		—		542		542
Loans, net of unearned income (a)	—		—		26,995		26,995
OREO (b)	—		—		25,726		25,726
Other assets (c)	—		—		23,329		23,329

	Carrying value at December 31, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Loans held-for-sale—SBAs and USDA	$	—	$	465,504	$	1,473	$	466,977
Loans held-for-sale—first mortgages	—		—		618		618
Loans, net of unearned income (a)	—		—		26,666		26,666
OREO (b)	—		—		39,566		39,566
Other assets (c)	—		—		26,521		26,521

(a) Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell.

(b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.

(c) Represents tax credit investments accounted for under the equity method.

Gains/(losses) on Nonrecurring Fair Value Measurements

For assets measured on a nonrecurring basis which were still held on the consolidated balance sheet at period end, the following table provides information about the fair value adjustments recorded during the three and nine months ended September 30, 2018 and 2017:

	Net gains/(losses) Three Months Ended September 30						Net gains/(losses) Nine months ended September 30
(Dollars in thousands)	2018			2017			2018			2017
Loans held-for-sale—SBAs and USDA	$	(1,213	)	$	(86	)	$	(2,464	)	$	(1,259	)
Loans held-for-sale—first mortgages	3			6			7			22
Loans, net of unearned income (a)	363			(2,388		)	1,020			(1,456		)
OREO (b)	(776		)	(41		)	(2,198		)	(662		)
Other assets (c)	(1,370		)	(762		)	(3,586		)	(2,646		)
	$	(2,993	)	$	(3,271	)	$	(7,221	)	$	(6,001	)

(a) Write-downs on these loans are recognized as part of provision for loan losses.

(b) Represents losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.

(c) Represents tax credit investments accounted for under the equity method.

Schedule Of Unobservable Inputs Utilized In Determining The Fair Value Of Level 3 Recurring And Non-Recurring Measurements

The following tables provide information regarding the unobservable inputs utilized in determining the fair value of level 3 recurring and non-recurring measurements as of September 30, 2018 and December 31, 2017:

(Dollars in thousands)
Level 3 Class	Fair Value at September 30, 2018		Valuation Techniques	Unobservable Input	Values Utilized
Available-for-sale- securities SBA-interest only strips	$	10,361	Discounted cash flow	Constant prepayment rate	11%
				Bond equivalent yield	13%- 18%
Loans held-for-sale - residential real estate	16,778		Discounted cash flow	Prepayment speeds - First mortgage	2% - 11%
				Prepayment speeds - HELOC	5% - 12%
				Foreclosure losses	50% - 70%
				Loss severity trends - First mortgage	2% - 25% of UPB
				Loss severity trends - HELOC	50% - 100% of UPB
Loans held-for-sale- unguaranteed interest in SBA loans	1,018		Discounted cash flow	Constant prepayment rate	8% - 12%
				Bond equivalent yield	9%
Derivative liabilities, other	34,212		Discounted cash flow	Visa covered litigation resolution amount	$5.2 billion - $5.8 billion
				Probability of resolution scenarios	20% - 30%
				Time until resolution	24- 48 months
Loans, net of unearned income (a)	26,995		Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 10% of appraisal
			Other collateral valuations	Borrowing base certificates adjustment	20% - 50% of gross value
				Financial Statements/Auction values adjustment	0% - 25% of reported value
OREO (b)	25,726		Appraisals from comparable properties	Adjustment for value changes since appraisal	0% - 10% of appraisal
Other assets (c)	23,329		Discounted cash flow	Adjustments to current sales yields for specific properties	0% - 15% adjustment to yield
			Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 25% of appraisal

(a) Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for loan losses.

(b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.

(c) Represents tax credit investments accounted for under the equity method.

(Dollars in thousands)
Level 3 Class	Fair Value at December 31, 2017		Valuation Techniques	Unobservable Input	Values Utilized
Available-for-sale- securities SBA-interest only strips	$	1,270	Discounted cash flow	Constant prepayment rate	10% - 11%
				Bond equivalent yield	17%
Loans held-for-sale - residential real estate	19,544		Discounted cash flow	Prepayment speeds - First mortgage	2% - 12%
				Prepayment speeds - HELOC	5% - 12%
				Foreclosure losses	50% - 70%
				Loss severity trends - First mortgage	5% - 30% of UPB
				Loss severity trends - HELOC	15% - 100% of UPB
Loans held-for-sale- unguaranteed interest in SBA loans	1,473		Discounted cash flow	Constant prepayment rate	8% - 12%
				Bond equivalent yield	9% - 10%
Derivative liabilities, other	5,645		Discounted cash flow	Visa covered litigation resolution amount	$4.4 billion - $5.2 billion
				Probability of resolution scenarios	10% - 30%
				Time until resolution	18 - 48 months
Loans, net of unearned income (a)	26,666		Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 10% of appraisal
			Other collateral valuations	Borrowing base certificates adjustment	20% - 50% of gross value
				Financial Statements/Auction values adjustment	0% - 25% of reported value
OREO (b)	39,566		Appraisals from comparable properties	Adjustment for value changes since appraisal	0% - 10% of appraisal
Other assets (c)	26,521		Discounted cash flow	Adjustments to current sales yields for specific properties	0% - 15% adjustment to yield
			Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 25% of appraisal

(a) Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for loan losses.

(b) Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.

(c) Represents tax credit investments accounted for under the equity method.

Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount

The following tables reflect the differences between the fair value carrying amount of residential real estate loans held-for-sale measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity.

	September 30, 2018
(Dollars in thousands)	Fair value carrying amount		Aggregate unpaid principal		Fair value carrying amount less aggregate unpaid principal
Residential real estate loans held-for-sale reported at fair value:
Total loans	$	16,418	$	23,897	$	(7,479	)
Nonaccrual loans	4,483		8,360		(3,877		)
Loans 90 days or more past due and still accruing	—		—		—
	December 31, 2017
(Dollars in thousands)	Fair value carrying amount		Aggregate unpaid principal		Fair value carrying amount less aggregate unpaid principal
Residential real estate loans held-for-sale reported at fair value:
Total loans	$	20,881	$	29,755	$	(8,874	)
Nonaccrual loans	5,783		10,881		(5,098		)
Loans 90 days or more past due and still accruing	—		—		—

Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings

Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table:

	Three Months Ended September 30				Nine months ended September 30
(Dollars in thousands)	2018		2017		2018		2017
Changes in fair value included in net income:
Mortgage banking noninterest income
Loans held-for-sale	$	277	$	390	$	986	$	1,722

Summary Of Book Value And Estimated Fair Value Of Financial Instruments

The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Condensed Statements of Condition as of September 30, 2018:

	September 30, 2018
	Book Value		Fair Value
(Dollars in thousands)			Level 1		Level 2		Level 3		Total
Assets:
Loans, net of unearned income and allowance for loan losses
Commercial:
Commercial, financial and industrial	$	15,943,831	$	—	$	—	$	15,941,049	$	15,941,049
Commercial real estate	4,203,121		—		—		4,198,110		4,198,110
Consumer:
Consumer real estate	6,164,646		—		—		6,114,607		6,114,607
Permanent mortgage	333,574		—		—		338,736		338,736
Credit card & other	519,083		—		—		520,074		520,074
Total loans, net of unearned income and allowance for loan losses	27,164,255		—		—		27,112,576		27,112,576
Short-term financial assets:
Interest-bearing cash	531,681		531,681		—		—		531,681
Federal funds sold	113,722		—		113,722		—		113,722
Securities purchased under agreements to resell	687,437		—		687,437		—		687,437
Total short-term financial assets	1,332,840		531,681		801,159		—		1,332,840
Trading securities (a)	1,930,991		—		1,929,399		1,592		1,930,991
Loans held-for-sale
Mortgage loans (elected fair value) (a)	16,418		—		182		16,236		16,418
USDA & SBA loans- LOCOM	619,160		—		623,863		1,023		624,886
Other consumer loans- LOCOM	28,843		—		6,704		22,139		28,843
Mortgage loans- LOCOM	61,230		—		—		61,230		61,230
Total loans held-for-sale	725,651		—		630,749		100,628		731,377
Securities available-for-sale (a)	4,608,383		—		4,598,022		10,361		4,608,383
Securities held-to-maturity	10,000		—		—		9,756		9,756
Derivative assets (a)	54,476		20,013		34,463		—		54,476
Other assets:
Tax credit investments	139,983		—		—		136,984		136,984
Deferred compensation mutual funds	40,912		40,912		—		—		40,912
Equity, mutual funds, and other (b)	240,667		22,141		—		218,526		240,667
Total other assets	421,562		63,053		—		355,510		418,563
Total assets	$	36,248,158	$	614,747	$	7,993,792	$	27,590,423	$	36,198,962
Liabilities:
Defined maturity deposits	$	4,056,184	$	—	$	4,024,544	$	—	$	4,024,544
Trading liabilities (a)	739,694		—		739,694		—		739,694
Short-term financial liabilities:
Federal funds purchased	437,474		—		437,474		—		437,474
Securities sold under agreements to repurchase	678,510		—		678,510		—		678,510
Other short-term borrowings	1,069,912		—		1,069,912		—		1,069,912
Total short-term financial liabilities	2,185,896		—		2,185,896		—		2,185,896
Term borrowings:
Real estate investment trust-preferred	46,151		—		—		47,470		47,470
Term borrowings—new market tax credit investment	18,000		—		—		17,915		17,915
Secured borrowings	16,621		—		—		16,499		16,499
Junior subordinated debentures	177,974		—		—		177,974		177,974
Other long term borrowings	941,388		—		957,647		—		957,647
Total term borrowings	1,200,134		—		957,647		259,858		1,217,505
Derivative liabilities (a)	170,324		18,770		117,342		34,212		170,324
Total liabilities	$	8,352,232	$	18,770	$	8,025,123	$	294,070	$	8,337,963

(a) Classes are detailed in the recurring and nonrecurring measurement tables.

(b) Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $130.7 million.

The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Statements of Condition as of December 31, 2017: 

	December 31, 2017
	Book Value		Fair Value
(Dollars in thousands)			Level 1		Level 2		Level 3		Total
Assets:
Loans, net of unearned income and allowance for loan losses
Commercial:
Commercial, financial and industrial	$	15,959,062	$	—	$	—	$	15,990,991	$	15,990,991
Commercial real estate	4,186,268		—		—		4,215,367		4,215,367
Consumer:
Consumer real estate	6,330,384		—		—		6,320,308		6,320,308
Permanent mortgage	383,742		—		—		388,396		388,396
Credit card & other	609,918		—		—		607,955		607,955
Total loans, net of unearned income and allowance for loan losses	27,469,374		—		—		27,523,017		27,523,017
Short-term financial assets:
Interest-bearing cash	1,185,600		1,185,600		—		—		1,185,600
Federal funds sold	87,364		—		87,364		—		87,364
Securities purchased under agreements to resell	725,609		—		725,609		—		725,609
Total short-term financial assets	1,998,573		1,185,600		812,973		—		1,998,573
Trading securities (a)	1,416,345		—		1,414,194		2,151		1,416,345
Loans held-for-sale
Mortgage loans	88,173		—		6,902		81,271		88,173
USDA & SBA loans	466,977		—		467,227		1,510		468,737
Other consumer loans	144,227		—		9,965		134,262		144,227
Securities available-for-sale (a) (b)	5,170,255		27,017		4,903,115		240,123		5,170,255
Securities held-to-maturity	10,000		—		—		9,901		9,901
Derivative assets (a)	81,634		10,161		71,473		—		81,634
Other assets:
Tax credit investments	119,317		—		—		112,292		112,292
Deferred compensation assets	39,822		39,822		—		—		39,822
Total other assets	159,139		39,822		—		112,292		152,114
Nonearning assets:
Cash & due from banks	639,073		639,073		—		—		639,073
Fixed income receivables	68,693		—		68,693		—		68,693
Accrued interest receivable	97,239		—		97,239		—		97,239
Total nonearning assets	805,005		639,073		165,932		—		805,005
Total assets	$	37,809,702	$	1,901,673	$	7,851,781	$	28,104,527	$	37,857,981
Liabilities:
Deposits:
Defined maturity	$	3,322,921	$	—	$	3,293,650	$	—	$	3,293,650
Undefined maturity	27,297,441		—		27,297,431		—		27,297,431
Total deposits	30,620,362		—		30,591,081		—		30,591,081
Trading liabilities (a)	638,515		—		638,515		—		638,515
Short-term financial liabilities:
Federal funds purchased	399,820		—		399,820		—		399,820
Securities sold under agreements to repurchase	656,602		—		656,602		—		656,602
Other short-term borrowings	2,626,213		—		2,626,213		—		2,626,213
Total short-term financial liabilities	3,682,635		—		3,682,635		—		3,682,635
Term borrowings:
Real estate investment trust-preferred	46,100		—		—		48,880		48,880
Term borrowings—new market tax credit investment	18,000		—		—		17,930		17,930
Secured borrowings	18,642		—		—		18,305		18,305
Junior subordinated debentures	187,281		—		—		187,281		187,281
Other long term borrowings	948,074		—		966,292		—		966,292
Total term borrowings	1,218,097		—		966,292		272,396		1,238,688
Derivative liabilities (a)	85,061		9,535		69,881		5,645		85,061
Other noninterest-bearing liabilities:
Fixed income payables	48,996		—		48,996		—		48,996
Accrued interest payable	16,270		—		16,270		—		16,270
Total other noninterest-bearing liabilities	65,266		—		65,266		—		65,266
Total liabilities	$	36,309,936	$	9,535	$	36,013,670	$	278,041	$	36,301,246

(a) Classes are detailed in the recurring and nonrecurring measurement tables.

(b) Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $134.6 million.

The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of September 30, 2018 and December 31, 2017:

	Contractual Amount				Fair Value
(Dollars in thousands)	September 30, 2018		December 31, 2017		September 30, 2018		December 31, 2017
Unfunded Commitments:
Loan commitments	$	10,829,303	$	10,678,485	$	2,871	$	2,617
Standby and other commitments	450,745		420,728		4,981		5,274