QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |
(State or other jurisdiction incorporation of organization) | (IRS Employer Identification No.) | ||
(Address of principal executive office) | (Zip Code) | ||
Title of Each Class | Trading Symbol(s) | Name of Exchange on which Registered | |
a share of Non-Cumulative Perpetual Preferred Stock, Series A | |||
a share of Non-Cumulative Perpetual Preferred Stock, Series B* | |||
a share of Non-Cumulative Perpetual Preferred Stock, Series C* | |||
a share of Non-Cumulative Perpetual Preferred Stock, Series D* | |||
a share of Non-Cumulative Perpetual Preferred Stock, Series E | |||
* Denotes class of security issued and outstanding on the date this report is filed, but not at June 30, 2020. | |||
☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | ||||
Smaller reporting company | Emerging Growth Company | |||||||
Class | Outstanding on June 30, 2020 | |
Common Stock, $.625 par value | ||
First Horizon National Corporation | ||||||||
(Unaudited) | December 31 | |||||||
June 30 | ||||||||
(Dollars in thousands, except per share amounts) | 2020 | 2019 | ||||||
Assets: | ||||||||
Cash and due from banks | $ | $ | ||||||
Federal funds sold | ||||||||
Securities purchased under agreements to resell (Note 15) | ||||||||
Total cash and cash equivalents | ||||||||
Interest-bearing cash | ||||||||
Trading securities | ||||||||
Loans held-for-sale (a) | ||||||||
Securities available-for-sale (Note 3) | ||||||||
Securities held-to-maturity (Note 3) | ||||||||
Loans, net of unearned income (Note 4) (b) | ||||||||
Less: Allowance for loan losses (Note 5) | ||||||||
Total net loans | ||||||||
Goodwill (Note 6) | ||||||||
Other intangible assets, net (Note 6) | ||||||||
Fixed income receivables | ||||||||
Premises and equipment, net (June 30, 2020 and December 31, 2019 include $7.0 million and $9.7 million, respectively, classified as held-for-sale) | ||||||||
Other real estate owned (“OREO”) (c) | ||||||||
Derivative assets (Note 14) | ||||||||
Other assets | ||||||||
Total assets | $ | $ | ||||||
Liabilities and equity: | ||||||||
Deposits: | ||||||||
Savings | $ | $ | ||||||
Time deposits, net | ||||||||
Other interest-bearing deposits | ||||||||
Interest-bearing | ||||||||
Noninterest-bearing | ||||||||
Total deposits | ||||||||
Federal funds purchased | ||||||||
Securities sold under agreements to repurchase (Note 15) | ||||||||
Trading liabilities | ||||||||
Other short-term borrowings | ||||||||
Term borrowings | ||||||||
Fixed income payables | ||||||||
Derivative liabilities (Note 14) | ||||||||
Other liabilities | ||||||||
Total liabilities | ||||||||
Equity: | ||||||||
First Horizon National Corporation Shareholders’ Equity: | ||||||||
Preferred stock - Non-cumulative perpetual, no par value, liquidation preference of $100,000 per share - (Series A shares authorized - 1,000; shares issued - 1,000 on June 30, 2020 and December 31, 2019. Series E shares authorized - 1,725; shares issued - 1,500 on June 30, 2020) | ||||||||
Common stock - $.625 par value (shares authorized - 400,000,000; shares issued - 312,358,668 on June 30, 2020 and 311,469,056 on December 31, 2019) | ||||||||
Capital surplus | ||||||||
Undivided profits | ||||||||
Accumulated other comprehensive loss, net (Note 8) | ( | ) | ( | ) | ||||
Total First Horizon National Corporation Shareholders’ Equity | ||||||||
Noncontrolling interest | ||||||||
Total equity | ||||||||
Total liabilities and equity | $ | $ | ||||||
(a) | June 30, 2020 and December 31, 2019 include $ |
(b) | June 30, 2020 and December 31, 2019 include $ |
(c) | June 30, 2020 and December 31, 2019 include $ |
First Horizon National Corporation | |||||||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
(Dollars and shares in thousands except per share data, unless otherwise noted) (Unaudited) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Interest income: | |||||||||||||||
Interest and fees on loans | $ | $ | $ | $ | |||||||||||
Interest on investment securities available-for-sale | |||||||||||||||
Interest on investment securities held-to-maturity | |||||||||||||||
Interest on loans held-for-sale | |||||||||||||||
Interest on trading securities | |||||||||||||||
Interest on other earning assets | |||||||||||||||
Total interest income | |||||||||||||||
Interest expense: | |||||||||||||||
Interest on deposits: | |||||||||||||||
Savings | |||||||||||||||
Time deposits | |||||||||||||||
Other interest-bearing deposits | |||||||||||||||
Interest on trading liabilities | |||||||||||||||
Interest on short-term borrowings | |||||||||||||||
Interest on term borrowings | |||||||||||||||
Total interest expense | |||||||||||||||
Net interest income | |||||||||||||||
Provision/(provision credit) for loan losses | |||||||||||||||
Net interest income after provision/(provision credit) for loan losses | |||||||||||||||
Noninterest income: | |||||||||||||||
Fixed income | |||||||||||||||
Deposit transactions and cash management | |||||||||||||||
Brokerage, management fees and commissions | |||||||||||||||
Trust services and investment management | |||||||||||||||
Bankcard income | |||||||||||||||
Bank-owned life insurance ("BOLI") | |||||||||||||||
Debt securities gains/(losses), net (Note 3 and Note 8) | ( | ) | ( | ) | |||||||||||
Equity securities gains/(losses), net (Note 3) | ( | ) | ( | ) | |||||||||||
All other income and commissions (Note 7) | |||||||||||||||
Total noninterest income | |||||||||||||||
Adjusted gross income after provision/(provision credit) for loan losses | |||||||||||||||
Noninterest expense: | |||||||||||||||
Employee compensation, incentives, and benefits | |||||||||||||||
Occupancy | |||||||||||||||
Computer software | |||||||||||||||
Operations services | |||||||||||||||
Professional fees | |||||||||||||||
Equipment rentals, depreciation, and maintenance | |||||||||||||||
FDIC premium expense | |||||||||||||||
Communications and courier | |||||||||||||||
Amortization of intangible assets | |||||||||||||||
Contract employment and outsourcing | |||||||||||||||
Advertising and public relations | |||||||||||||||
Legal fees | |||||||||||||||
All other expense (Note 7) | |||||||||||||||
Total noninterest expense | |||||||||||||||
Income/(loss) before income taxes | |||||||||||||||
Provision/(benefit) for income taxes | |||||||||||||||
Net income/(loss) | $ | $ | $ | $ | |||||||||||
Net income attributable to noncontrolling interest | |||||||||||||||
Net income/(loss) attributable to controlling interest | $ | $ | $ | $ | |||||||||||
Preferred stock dividends | |||||||||||||||
Net income/(loss) available to common shareholders | $ | $ | $ | $ | |||||||||||
Basic earnings/(loss) per share (Note 9) | $ | $ | $ | $ | |||||||||||
Diluted earnings/(loss) per share (Note 9) | $ | $ | $ | $ | |||||||||||
Weighted average common shares (Note 9) | |||||||||||||||
Diluted average common shares (Note 9) | |||||||||||||||
First Horizon National Corporation | |||||||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
(Dollars in thousands) (Unaudited) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Net income/(loss) | $ | $ | $ | $ | |||||||||||
Other comprehensive income/(loss), net of tax: | |||||||||||||||
Net unrealized gains/(losses) on securities available-for-sale | ( | ) | |||||||||||||
Net unrealized gains/(losses) on cash flow hedges | |||||||||||||||
Net unrealized gains/(losses) on pension and other postretirement plans | |||||||||||||||
Other comprehensive income/(loss) | |||||||||||||||
Comprehensive income | |||||||||||||||
Comprehensive income attributable to noncontrolling interest | |||||||||||||||
Comprehensive income attributable to controlling interest | $ | $ | $ | $ | |||||||||||
Income tax expense/(benefit) of items included in Other comprehensive income: | |||||||||||||||
Net unrealized gains/(losses) on securities available-for-sale | $ | ( | ) | $ | $ | $ | |||||||||
Net unrealized gains/(losses) on cash flow hedges | |||||||||||||||
Net unrealized gains/(losses) on pension and other postretirement plans | |||||||||||||||
First Horizon National Corporation | ||||||||||||||||||||||||||||||||||
Six months ended June 30, 2020 | ||||||||||||||||||||||||||||||||||
Preferred Stock | Common Stock | |||||||||||||||||||||||||||||||||
(Dollars and shares in thousands, except per share data) (unaudited) | Shares | Amount | Shares | Amount | Capital Surplus | Undivided Profits | Accumulated Other Comprehensive Income/(Loss) (a) | Noncontrolling Interest | Total | |||||||||||||||||||||||||
Balance, December 31, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
Adjustment to reflect adoption of ASU 2016-13 | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Beginning balance, as adjusted | ( | ) | ||||||||||||||||||||||||||||||||
Net income/(loss) | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Comprehensive income/(loss) | — | — | — | — | — | |||||||||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock ($1,550 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock ($.15 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock repurchased | — | — | ( | ) | ( | ) | ( | ) | — | — | — | ( | ) | |||||||||||||||||||||
Common stock issued for: | ||||||||||||||||||||||||||||||||||
Stock options and restricted stock - equity awards | — | — | — | — | — | |||||||||||||||||||||||||||||
Stock-based compensation expense | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | ( | ) | ( | ) | |||||||||||||||||||||||
Other (b) | — | — | ( | ) | ( | ) | ( | ) | — | — | — | ( | ) | |||||||||||||||||||||
Balance, March 31, 2020 | $ | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
Net income/(loss) | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Comprehensive income/(loss) | — | — | — | — | — | |||||||||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock ($1,550 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock ($.15 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Preferred stock issuance (1,500 shares issued at $100,000 per share net of offering costs) | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Common stock repurchased | — | — | ( | ) | ( | ) | ( | ) | — | — | — | ( | ) | |||||||||||||||||||||
Common stock issued for: | ||||||||||||||||||||||||||||||||||
Stock options and restricted stock - equity awards | — | — | ( | ) | — | — | — | — | ||||||||||||||||||||||||||
Stock-based compensation expense | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | ( | ) | ( | ) | |||||||||||||||||||||||
Balance, June 30, 2020 | $ | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
(a) | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income/(loss) have been attributed solely to FHN as the controlling interest holder. |
(b) | Represents shares canceled in connection with the resolution of remaining Capital Bank Financial Corporation ("CBF") dissenters' appraisal process. |
Six months ended June 30, 2019 | ||||||||||||||||||||||||||||||||||
Preferred Stock | Common Stock | |||||||||||||||||||||||||||||||||
(Dollars and shares in thousands, except per share data) (unaudited) | Shares | Amount | Shares | Amount | Capital Surplus | Undivided Profits | Accumulated Other Comprehensive Income/(Loss) (a) | Noncontrolling Interest | Total | |||||||||||||||||||||||||
Balance, December 31, 2018 | $ | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
Adjustment to reflect adoption of ASU 2016-02 | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Beginning balance, as adjusted | ( | ) | ||||||||||||||||||||||||||||||||
Net income/(loss) | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Comprehensive income/(loss) | — | — | — | — | — | |||||||||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock ($1,550 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock ($.14 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock repurchased (b) | — | — | ( | ) | ( | ) | ( | ) | — | — | — | ( | ) | |||||||||||||||||||||
Common stock issued for: | ||||||||||||||||||||||||||||||||||
Stock options and restricted stock - equity awards | — | — | — | — | — | |||||||||||||||||||||||||||||
Stock-based compensation expense | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | ( | ) | ( | ) | |||||||||||||||||||||||
Balance, March 31, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
Net income/(loss) | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Other comprehensive income/(loss) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Comprehensive income/(loss) | — | — | — | — | — | |||||||||||||||||||||||||||||
Cash dividends declared: | ||||||||||||||||||||||||||||||||||
Preferred stock ($1,550 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock ($.14 per share) | — | — | — | — | — | ( | ) | — | — | ( | ) | |||||||||||||||||||||||
Common stock repurchased (b) | — | — | ( | ) | ( | ) | ( | ) | — | — | — | ( | ) | |||||||||||||||||||||
Common stock issued for: | ||||||||||||||||||||||||||||||||||
Stock options and restricted stock - equity awards | — | — | — | — | — | |||||||||||||||||||||||||||||
Stock-based compensation expense | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | ( | ) | ( | ) | |||||||||||||||||||||||
Balance, June 30, 2019 | $ | $ | $ | $ | $ | ( | ) | $ | $ | |||||||||||||||||||||||||
(a) | Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income/(loss) have been attributed solely to FHN as the controlling interest holder. |
(b) | Includes $ |
First Horizon National Corporation | ||||||||
Six Months Ended June 30 | ||||||||
(Dollars in thousands) (Unaudited) | 2020 | 2019 | ||||||
Operating Activities | ||||||||
Net income/(loss) | $ | $ | ||||||
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities: | ||||||||
Provision/(provision credit) for loan losses | ||||||||
Provision/(benefit) for deferred income taxes | ( | ) | ||||||
Depreciation and amortization of premises and equipment | ||||||||
Amortization of intangible assets | ||||||||
Net other amortization and accretion | ( | ) | ||||||
Net (increase)/decrease in derivatives | ( | ) | ( | ) | ||||
Fair value adjustment on interest-only strips | ||||||||
(Gains)/losses and write-downs on OREO, net | ( | ) | ||||||
Litigation and regulatory matters | ( | ) | ||||||
Stock-based compensation expense | ||||||||
Gain on sale and pay down of held-to-maturity loans | ( | ) | ||||||
Equity securities (gains)/losses, net | ( | ) | ||||||
Debt securities (gains)/losses, net | ||||||||
Net (gains)/losses on sale/disposal of fixed assets | ||||||||
(Gain)/loss on BOLI | ( | ) | ( | ) | ||||
Loans held-for-sale: | ||||||||
Purchases and originations | ( | ) | ( | ) | ||||
Gross proceeds from settlements and sales | ||||||||
(Gain)/loss due to fair value adjustments and other | ||||||||
Net (increase)/decrease in: | ||||||||
Trading securities | ||||||||
Fixed income receivables | ( | ) | ( | ) | ||||
Interest receivable | ( | ) | ( | ) | ||||
Other assets | ( | ) | ||||||
Net increase/(decrease) in: | ||||||||
Trading liabilities | ( | ) | ||||||
Fixed income payables | ( | ) | ||||||
Interest payable | ( | ) | ||||||
Other liabilities | ( | ) | ||||||
Total adjustments | ( | ) | ||||||
Net cash provided/(used) by operating activities | ( | ) | ||||||
Investing Activities | ||||||||
Available-for-sale securities: | ||||||||
Sales | ||||||||
Maturities | ||||||||
Purchases | ( | ) | ( | ) | ||||
Premises and equipment: | ||||||||
Sales | ||||||||
Purchases | ( | ) | ( | ) | ||||
Proceeds from sales of OREO | ||||||||
Proceeds from sale and pay down of loans classified as held-to-maturity | ||||||||
Proceeds from BOLI | ||||||||
Net (increase)/decrease in: | ||||||||
Loans | ( | ) | ( | ) | ||||
Interests retained from securitizations classified as trading securities | ||||||||
Interest-bearing cash | ( | ) | ||||||
Net cash provided/(used) by investing activities | ( | ) | ( | ) | ||||
Financing Activities | ||||||||
Common stock: | ||||||||
Stock options exercised | ||||||||
Cash dividends paid | ( | ) | ( | ) | ||||
Repurchase of shares (a) | ( | ) | ( | ) | ||||
Cancellation of common shares (b) | ( | ) | ||||||
Preferred stock issuance | ||||||||
Cash dividends paid - preferred stock - noncontrolling interest | ( | ) | ( | ) | ||||
Cash dividends paid - Series A preferred stock | ( | ) | ( | ) | ||||
Term borrowings: | ||||||||
Issuance (c) | ||||||||
Payments/maturities | ( | ) | ||||||
Increases/(decreases) in restricted and secured term borrowings | ( | ) | ||||||
Net increase/(decrease) in: | ||||||||
Deposits | ( | ) | ||||||
Short-term borrowings | ( | ) | ||||||
Net cash provided/(used) by financing activities | ||||||||
Net increase/(decrease) in cash and cash equivalents | ( | ) | ( | ) | ||||
Cash and cash equivalents at beginning of period | ||||||||
Cash and cash equivalents at end of period | $ | $ | ||||||
Supplemental Disclosures | ||||||||
Total interest paid | $ | $ | ||||||
Total taxes paid | ||||||||
Total taxes refunded | ||||||||
Transfer from loans to OREO | ||||||||
Transfer from loans HFS to trading securities | ||||||||
(Dollars in thousands) | January 1, 2020 | |||||
Loans, net of unearned income (a) | $ | |||||
Allowance for loan losses | ( | ) | ||||
Other assets (deferred taxes) | ||||||
Total assets | $ | ( | ) | |||
Other liabilities (unfunded commitments) | $ | |||||
Undivided profits | ( | ) | ||||
Total liabilities and equity | $ | ( | ) | |||
June 30, 2020 | ||||||||
(Dollars in thousands) | Three Months Ended | Six Months Ended | ||||||
Professional fees (a) | $ | $ | ||||||
Employee compensation, incentives and benefits (b) | ||||||||
Miscellaneous expense (c) | ||||||||
Total IBKC acquisition expense | $ | $ | ||||||
(a) | Primarily comprised of fees for legal, accounting, and merger consultants. |
(b) | Primarily comprised of fees for severance and retention. |
(c) | Primarily comprised of fees for travel and entertainment, contract employment, and other miscellaneous expenses. |
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Professional fees (a) | $ | $ | $ | $ | ||||||||||||
Employee compensation, incentives and benefits (b) | ||||||||||||||||
Contract employment and outsourcing (c) | ||||||||||||||||
Occupancy (d) | ( | ) | ( | ) | ||||||||||||
Miscellaneous expense (e) | ||||||||||||||||
All other expense (f) | ||||||||||||||||
Total | $ | $ | $ | $ | ||||||||||||
(a) | Primarily comprised of fees for legal, accounting, and merger consultants. |
(b) | Primarily comprised of fees for severance and retention. |
(c) | Primarily relates to fees for temporary assistance for merger and integration activities. |
(d) | Primarily relates to expenses associated with lease exits. |
(e) | Consists of fees for operations services, communications and courier, equipment rentals, depreciation and maintenance, supplies, travel and entertainment, computer software, and advertising and public relations. |
(f) | Primarily relates to contract termination charges, internal technology development costs, costs of shareholder matters and asset impairments, as well as other miscellaneous expenses. |
June 30, 2020 | ||||||||||||||||
(Dollars in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||
Securities available-for-sale: | ||||||||||||||||
U.S. treasuries | $ | $ | $ | ( | ) | $ | ||||||||||
Government agency issued mortgage-backed securities (“MBS”) | ( | ) | ||||||||||||||
Government agency issued collateralized mortgage obligations (“CMO”) | ( | ) | ||||||||||||||
Other U.S. government agencies | ||||||||||||||||
Corporates and other debt | ||||||||||||||||
States and municipalities | ||||||||||||||||
$ | $ | $ | ( | ) | ||||||||||||
AFS debt securities recorded at fair value through earnings: | ||||||||||||||||
SBA-interest only strips (a) | ||||||||||||||||
Total securities available-for-sale (b) | $ | |||||||||||||||
Securities held-to-maturity: | ||||||||||||||||
Corporates and other debt | $ | $ | $ | ( | ) | $ | ||||||||||
Total securities held-to-maturity | $ | $ | $ | ( | ) | $ | ||||||||||
(a) | SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value for additional information. |
(b) | Includes $ |
December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||
Securities available-for-sale: | ||||||||||||||||
U.S. treasuries | $ | $ | $ | $ | ||||||||||||
Government agency issued MBS | ( | ) | ||||||||||||||
Government agency issued CMO | ( | ) | ||||||||||||||
Other U.S. government agencies | ( | ) | ||||||||||||||
Corporates and other debt | ||||||||||||||||
States and municipalities | ( | ) | ||||||||||||||
$ | $ | $ | ( | ) | ||||||||||||
AFS debt securities recorded at fair value through earnings: | ||||||||||||||||
SBA-interest only strips (a) | ||||||||||||||||
Total securities available-for-sale (b) | $ | |||||||||||||||
Securities held-to-maturity: | ||||||||||||||||
Corporates and other debt | $ | $ | $ | $ | ||||||||||||
Total securities held-to-maturity | $ | $ | $ | $ | ||||||||||||
(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 $ |
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 | ||||||||||||||||
After 5 years; within 10 years | ||||||||||||||||
After 10 years | ||||||||||||||||
Subtotal | ||||||||||||||||
Government agency issued MBS and CMO (a) | ||||||||||||||||
Total | $ | $ | $ | $ | ||||||||||||
(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. |
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Gross gains on sales of securities | $ | $ | $ | $ | |||||||||||
Gross (losses) on sales of securities | ( | ) | ( | ) | |||||||||||
Net gain/(loss) on sales of securities (a) | $ | $ | ( | ) | $ | $ | ( | ) | |||||||
(a) | Cash proceeds for the three and six months ended June 30, 2020 were not material. Cash proceeds for the three and six months ended June 30, 2019 were $ |
As of June 30, 2020 | ||||||||||||||||||||||||
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 | $ | $ | ( | ) | $ | $ | $ | $ | ( | ) | ||||||||||||||
Government agency issued MBS | ( | ) | ( | ) | ||||||||||||||||||||
Government agency issued CMO | ( | ) | ( | ) | ||||||||||||||||||||
Total temporarily impaired securities | $ | $ | ( | ) | $ | $ | $ | $ | ( | ) | ||||||||||||||
As of December 31, 2019 | ||||||||||||||||||||||||
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 | $ | $ | $ | $ | $ | $ | ||||||||||||||||||
Government agency issued MBS | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
Government agency issued CMO | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
Other U.S. government agencies | ( | ) | ( | ) | ||||||||||||||||||||
States and municipalities | ( | ) | ( | ) | ||||||||||||||||||||
Total temporarily impaired securities | $ | $ | ( | ) | $ | $ | ( | ) | $ | $ | ( | ) | ||||||||||||
June 30 | December 31 | |||||||
(Dollars in thousands) | 2020 | 2019 | ||||||
Commercial: | ||||||||
Commercial, financial, and industrial | $ | $ | ||||||
Commercial real estate | ||||||||
Consumer: | ||||||||
Consumer real estate (a) | ||||||||
Credit card & other | ||||||||
Loans, net of unearned income | $ | $ | ||||||
Allowance for loan losses | ||||||||
Total net loans | $ | $ | ||||||
(a) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio; all prior periods were revised for comparability. |
C&I | ||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | prior to 2016 (a) | LMC (b) | Revolving Loans | Revolving Loans converted to term loans (c) | Total | ||||||||||||||||||||||||||||||
PD Grade: | ||||||||||||||||||||||||||||||||||||||||
1 (d) | $ | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||||||||||||||||
3 | ||||||||||||||||||||||||||||||||||||||||
4 | ||||||||||||||||||||||||||||||||||||||||
5 | ||||||||||||||||||||||||||||||||||||||||
6 | ||||||||||||||||||||||||||||||||||||||||
7 | ||||||||||||||||||||||||||||||||||||||||
8 | ||||||||||||||||||||||||||||||||||||||||
9 | ||||||||||||||||||||||||||||||||||||||||
10 | ||||||||||||||||||||||||||||||||||||||||
11 | ||||||||||||||||||||||||||||||||||||||||
12 | ||||||||||||||||||||||||||||||||||||||||
13 | ||||||||||||||||||||||||||||||||||||||||
14,15,16 | ||||||||||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||
Total C&I loans | $ | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||
(a) | TRUPS loans were originated prior to 2016. Total balance of TRUPS as of June 30, 2020 is $ |
(b) | LMC includes non-revolving commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors. The loans are of short duration with maturities less than one year. |
(c) | $ |
(d) | 2020 balance includes PPP loans. |
Income CRE | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | prior to 2016 | Revolving Loans | Revolving Loans converted to term loans | Total | |||||||||||||||||||||||||||
PD Grade: | ||||||||||||||||||||||||||||||||||||
1 | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||||||||||||
3 | ||||||||||||||||||||||||||||||||||||
4 | ||||||||||||||||||||||||||||||||||||
5 | ||||||||||||||||||||||||||||||||||||
6 | ||||||||||||||||||||||||||||||||||||
7 | ||||||||||||||||||||||||||||||||||||
8 | ||||||||||||||||||||||||||||||||||||
9 | ||||||||||||||||||||||||||||||||||||
10 | ||||||||||||||||||||||||||||||||||||
11 | ||||||||||||||||||||||||||||||||||||
12 | ||||||||||||||||||||||||||||||||||||
13 | ||||||||||||||||||||||||||||||||||||
14,15,16 | ||||||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||
Total CRE-IP | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Residential CRE | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | prior to 2016 | Revolving Loans | Revolving Loans converted to term loans | Total | |||||||||||||||||||||||||||
PD Grade: | ||||||||||||||||||||||||||||||||||||
1 | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
2 | ||||||||||||||||||||||||||||||||||||
3 | ||||||||||||||||||||||||||||||||||||
4 | ||||||||||||||||||||||||||||||||||||
5 | ||||||||||||||||||||||||||||||||||||
6 | ||||||||||||||||||||||||||||||||||||
7 | ||||||||||||||||||||||||||||||||||||
8 | ||||||||||||||||||||||||||||||||||||
9 | ||||||||||||||||||||||||||||||||||||
10 | ||||||||||||||||||||||||||||||||||||
11 | ||||||||||||||||||||||||||||||||||||
12 | ||||||||||||||||||||||||||||||||||||
13 | ||||||||||||||||||||||||||||||||||||
14,15,16 | ||||||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||
Total CRE-RES | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
December 31, 2019 | |||||||||||||||||||||||||||||||
(Dollars in thousands) | General C&I | Loans to Mortgage Companies | TRUPS (a) | Income CRE | Residential CRE | Total | Percentage of Total | Allowance for Loan Losses | |||||||||||||||||||||||
PD Grade: | |||||||||||||||||||||||||||||||
1 | $ | $ | $ | $ | $ | $ | % | $ | |||||||||||||||||||||||
2 | |||||||||||||||||||||||||||||||
3 | |||||||||||||||||||||||||||||||
4 | |||||||||||||||||||||||||||||||
5 | |||||||||||||||||||||||||||||||
6 | |||||||||||||||||||||||||||||||
7 | |||||||||||||||||||||||||||||||
8 | |||||||||||||||||||||||||||||||
9 | |||||||||||||||||||||||||||||||
10 | |||||||||||||||||||||||||||||||
11 | |||||||||||||||||||||||||||||||
12 | |||||||||||||||||||||||||||||||
13 | |||||||||||||||||||||||||||||||
14,15,16 | |||||||||||||||||||||||||||||||
Collectively evaluated for impairment | |||||||||||||||||||||||||||||||
Individually evaluated for impairment | |||||||||||||||||||||||||||||||
Purchased credit-impaired loans | |||||||||||||||||||||||||||||||
Total commercial loans | $ | $ | $ | $ | $ | $ | % | $ | |||||||||||||||||||||||
Consumer Real Estate | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | Prior to 2016 | Revolving Loans | Revolving Loans converted to term loans (a) | Total | |||||||||||||||||||||||||||
FICO score 740 or greater | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
FICO score 720-739 | ||||||||||||||||||||||||||||||||||||
FICO score 700-719 | ||||||||||||||||||||||||||||||||||||
FICO score 660-699 | ||||||||||||||||||||||||||||||||||||
FICO score 620-659 | ||||||||||||||||||||||||||||||||||||
FICO score less than 620 | ||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Other Consumer | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | Prior to 2016 | Revolving Loans | Revolving Loans converted to term loans (a) | Total | |||||||||||||||||||||||||||
FICO score 740 or greater | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
FICO score 720-739 | ||||||||||||||||||||||||||||||||||||
FICO score 700-719 | ||||||||||||||||||||||||||||||||||||
FICO score 660-699 | ||||||||||||||||||||||||||||||||||||
FICO score 620-659 | ||||||||||||||||||||||||||||||||||||
FICO score less than 620 | ||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
December 31, 2019 | ||||||
(Dollars in thousands) | HELOC | R/E Installment Loans (b) | ||||
FICO score 740 or greater | % | % | ||||
FICO score 720-739 | ||||||
FICO score 700-719 | ||||||
FICO score 660-699 | ||||||
FICO score 620-659 | ||||||
FICO score less than 620 (a) | ||||||
Total | % | % | ||||
(a) | For this group, a majority of the loan balances had FICO scores at the time of the origination that exceeded 620 but have since deteriorated as the loans have seasoned. |
(b) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
Accruing | Non-Accruing | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30-89 Days Past Due | 90+ Days Past Due | Total Accruing | Current | 30-89 Days Past Due | 90+ Days Past Due | Total Non- Accruing | Total Loans | |||||||||||||||||||||||||||
Commercial (C&I): | ||||||||||||||||||||||||||||||||||||
General C&I (a) | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Loans to mortgage companies | ||||||||||||||||||||||||||||||||||||
TRUPS (b) | ||||||||||||||||||||||||||||||||||||
Total commercial (C&I) | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||||||||||||
Income CRE | ||||||||||||||||||||||||||||||||||||
Residential CRE | ||||||||||||||||||||||||||||||||||||
Total commercial real estate | ||||||||||||||||||||||||||||||||||||
Consumer real estate: | ||||||||||||||||||||||||||||||||||||
HELOC | ||||||||||||||||||||||||||||||||||||
R/E installment loans | ||||||||||||||||||||||||||||||||||||
Total consumer real estate | ||||||||||||||||||||||||||||||||||||
Credit card & other: | ||||||||||||||||||||||||||||||||||||
Credit card | ||||||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||||||
Total credit card & other | ||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Accruing | Non-Accruing | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30-89 Days Past Due | 90+ Days Past Due | Total Accruing | Current | 30-89 Days Past Due | 90+ Days Past Due | Total Non- Accruing | Total Loans | |||||||||||||||||||||||||||
Commercial (C&I): | ||||||||||||||||||||||||||||||||||||
General C&I | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Loans to mortgage companies | ||||||||||||||||||||||||||||||||||||
TRUPS (a) | ||||||||||||||||||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||||||||||||||||||
Total commercial (C&I) | ||||||||||||||||||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||||||||||||||
Income CRE | ||||||||||||||||||||||||||||||||||||
Residential CRE | ||||||||||||||||||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||||||||||||||||||
Total commercial real estate | ||||||||||||||||||||||||||||||||||||
Consumer real estate: | ||||||||||||||||||||||||||||||||||||
HELOC | ||||||||||||||||||||||||||||||||||||
R/E installment loans (b) | ||||||||||||||||||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||||||||||||||||||
Total consumer real estate | ||||||||||||||||||||||||||||||||||||
Credit card & other: | ||||||||||||||||||||||||||||||||||||
Credit card | ||||||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||||||||||||||||||
Total credit card & other | ||||||||||||||||||||||||||||||||||||
Total loans, net of unearned income | $ | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(a) | TRUPS is presented net of the valuation allowance of $ |
(b) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
Three Months Ended June 30, 2020 | Six Months Ended June 30, 2020 | |||||||||||||||||||||
(Dollars in thousands) | Number | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||
Commercial (C&I): | ||||||||||||||||||||||
General C&I | $ | $ | $ | $ | ||||||||||||||||||
Total commercial (C&I) | ||||||||||||||||||||||
Consumer real estate: | ||||||||||||||||||||||
HELOC | ||||||||||||||||||||||
R/E installment loans | ||||||||||||||||||||||
Total consumer real estate | ||||||||||||||||||||||
Credit card & other | ||||||||||||||||||||||
Total troubled debt restructurings | $ | $ | $ | $ | ||||||||||||||||||
Three Months Ended June 30, 2019 | Six Months Ended June 30, 2019 | |||||||||||||||||||||
(Dollars in thousands) | Number | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||
Commercial (C&I): | ||||||||||||||||||||||
General C&I | $ | $ | $ | $ | ||||||||||||||||||
Total commercial (C&I) | ||||||||||||||||||||||
Consumer real estate: | ||||||||||||||||||||||
HELOC | ||||||||||||||||||||||
R/E installment loans | ||||||||||||||||||||||
Total consumer real estate | ||||||||||||||||||||||
Credit card & other | ||||||||||||||||||||||
Total troubled debt restructurings | $ | $ | $ | $ | ||||||||||||||||||
Three Months Ended June 30, 2020 | Six Months Ended June 30, 2020 | |||||||||||||
(Dollars in thousands) | Number | Recorded Investment | Number | Recorded Investment | ||||||||||
Commercial (C&I): | ||||||||||||||
General C&I | $ | $ | ||||||||||||
Total commercial (C&I) | ||||||||||||||
Consumer real estate: | ||||||||||||||
HELOC | ||||||||||||||
R/E installment loans | ||||||||||||||
Total consumer real estate | ||||||||||||||
Credit card & other | ||||||||||||||
Total troubled debt restructurings | $ | $ | ||||||||||||
Three Months Ended June 30, 2019 | Six Months Ended June 30, 2019 | |||||||||||||
(Dollars in thousands) | Number | Recorded Investment | Number | Recorded Investment | ||||||||||
Commercial (C&I): | ||||||||||||||
General C&I | $ | $ | ||||||||||||
Total commercial (C&I) | ||||||||||||||
Consumer real estate: | ||||||||||||||
HELOC | ||||||||||||||
R/E installment loans | ||||||||||||||
Total consumer real estate | ||||||||||||||
Credit card & other | ||||||||||||||
Total troubled debt restructurings | $ | $ | ||||||||||||
June 30 | ||||
(Dollars in thousands) | 2020 | |||
Commercial: | ||||
Commercial, financial, and industrial | $ | |||
Commercial real estate | ||||
Consumer: | ||||
Consumer real estate | ||||
Credit card & other | ||||
Allowance for Credit Losses on COVID-19 Deferrals | ( | ) | ||
Total accrued interest | $ | |||
Year Ended | ||||
(Dollars in thousands) | 2019 | |||
Balance, beginning of period | $ | |||
Accretion | ( | ) | ||
Adjustment for payoffs | ( | ) | ||
Adjustment for charge-offs | ( | ) | ||
Adjustment for pool excess recovery (a) | ||||
Increase in accretable yield (b) | ||||
Disposals | ( | ) | ||
Other | ( | ) | ||
Balance, end of period | $ | |||
(a) | Represents the removal of accretable difference for the remaining loans in a pool which is now in a recovery state. |
(b) | Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows. |
December 31, 2019 | ||||||||
(Dollars in thousands) | Carrying value | Unpaid balance | ||||||
Commercial, financial and industrial | $ | $ | ||||||
Commercial real estate | ||||||||
Consumer real estate | ||||||||
Credit card and other | ||||||||
Total | $ | $ | ||||||
December 31, 2019 | ||||||||||||
(Dollars in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | |||||||||
Impaired loans with no related allowance recorded: | ||||||||||||
Commercial: | ||||||||||||
General C&I | $ | $ | $ | — | ||||||||
Income CRE | — | |||||||||||
Total | $ | $ | $ | — | ||||||||
Consumer: | ||||||||||||
HELOC (a) | $ | $ | $ | — | ||||||||
R/E installment loans (a) | — | |||||||||||
Total | $ | $ | $ | — | ||||||||
Impaired loans with related allowance recorded: | ||||||||||||
Commercial: | ||||||||||||
General C&I | $ | $ | $ | |||||||||
TRUPS | ||||||||||||
Income CRE | ||||||||||||
Total | $ | $ | $ | |||||||||
Consumer: | ||||||||||||
HELOC | $ | $ | $ | |||||||||
R/E installment loans | ||||||||||||
Credit card & other | ||||||||||||
Total | $ | $ | $ | |||||||||
Total commercial | $ | $ | $ | |||||||||
Total consumer | $ | $ | $ | |||||||||
Total impaired loans | $ | $ | $ | |||||||||
(a) | All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. |
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
2019 | 2019 | |||||||||||||||
(Dollars in thousands) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||
Impaired loans with no related allowance recorded: | ||||||||||||||||
Commercial: | ||||||||||||||||
General C&I | $ | $ | $ | $ | ||||||||||||
Loans to mortgage companies | ||||||||||||||||
Income CRE | ||||||||||||||||
Residential CRE | ||||||||||||||||
Total | $ | $ | $ | $ | ||||||||||||
Consumer: | ||||||||||||||||
HELOC (a) | $ | $ | $ | $ | ||||||||||||
R/E installment loans (a) | ||||||||||||||||
Total | $ | $ | $ | $ | ||||||||||||
Impaired loans with related allowance recorded: | ||||||||||||||||
Commercial: | ||||||||||||||||
General C&I | $ | $ | $ | $ | ||||||||||||
TRUPS | ||||||||||||||||
Income CRE | ||||||||||||||||
Residential CRE | ||||||||||||||||
Total | $ | $ | $ | $ | ||||||||||||
Consumer: | ||||||||||||||||
HELOC | $ | $ | $ | $ | ||||||||||||
R/E installment loans | ||||||||||||||||
Credit card & other | ||||||||||||||||
Total | $ | $ | $ | $ | ||||||||||||
Total commercial | $ | $ | $ | $ | ||||||||||||
Total consumer | $ | $ | $ | $ | ||||||||||||
Total impaired loans | $ | $ | $ | $ | ||||||||||||
(a) | All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance. |
• | 1.6mm confirmed COVID-19 cases, begin to abate by early July. Assumes no second wave. |
• | Unemployment peak at 20mm in 2Q20 |
• | Annualized GDP growth rate of -33% in 2Q20, 16% in 3Q20, & 0.6% in 4Q20 |
• | Quicker recovery than Great Recession |
• | V-shaped recovery for housing including residential construction and sales |
• | Manufacturing should have a stronger initial bounce |
• | More caution due to COVID-19 drives a slower and longer recovery for the service sector; may depend on vaccine. |
(Dollars in thousands) | C&I | Commercial Real Estate | Consumer Real Estate (a) | Credit Card and Other | Total | |||||||||||||||
Balance as of April 1, 2020 | $ | $ | $ | $ | $ | |||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||
Recoveries | ||||||||||||||||||||
Provision/(provision credit) for loan losses | ||||||||||||||||||||
Balance as of June 30, 2020 | ||||||||||||||||||||
Balance as of January 1, 2020 | ||||||||||||||||||||
Adoption of ASU 2016-13 | ( | ) | ||||||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||
Recoveries | ||||||||||||||||||||
Provision/(provision credit) for loan loses | ||||||||||||||||||||
Balance as of June 30, 2020 | ||||||||||||||||||||
Allowance - individually evaluated for impairment | ||||||||||||||||||||
Allowance - collectively evaluated for impairment | ||||||||||||||||||||
Loans, net of unearned as of June 30, 2020: | ||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||
Collectively evaluated for impairment | ||||||||||||||||||||
Total loans, net of unearned income (b) | $ | $ | $ | $ | $ | |||||||||||||||
Balance as of April 1, 2019 | $ | $ | $ | $ | $ | |||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||
Recoveries | ( | ) | ||||||||||||||||||
Provision/(provision credit) for loan losses | ( | ) | ( | ) | ||||||||||||||||
Balance as of June 30, 2019 | ||||||||||||||||||||
Balance as of January 1, 2019 | ||||||||||||||||||||
Charge-offs | ( | ) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||
Recoveries | ( | ) | ||||||||||||||||||
Provision/(provision credit) for loan losses | ( | ) | ||||||||||||||||||
Balance as of June 30, 2019 | ||||||||||||||||||||
Allowance - individually evaluated for impairment | ||||||||||||||||||||
Allowance - collectively evaluated for impairment | ||||||||||||||||||||
Allowance - purchased credit-impaired loans | ||||||||||||||||||||
Loans, net of unearned as of June 30, 2019: | ||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||
Collectively evaluated for impairment | ||||||||||||||||||||
Purchased credit-impaired loans | ||||||||||||||||||||
Total loans, net of unearned income | $ | $ | $ | $ | $ | |||||||||||||||
June 30, 2020 | December 31, 2019 | |||||||||||||||||||||||
(Dollars in thousands) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | ||||||||||||||||||
Core deposit intangibles | $ | $ | ( | ) | $ | $ | $ | ( | ) | $ | ||||||||||||||
Customer relationships (a) | ( | ) | ( | ) | ||||||||||||||||||||
Other (b) | ( | ) | ( | ) | ||||||||||||||||||||
Total | $ | $ | ( | ) | $ | $ | $ | ( | ) | $ | ||||||||||||||
(a) | 2020 decrease in gross carrying amounts and accumulated amortization associated with $ |
(b) | Balance primarily includes noncompete covenants, as well as $ |
(Dollars in thousands) | ||||
Year | Amortization | |||
Remainder of 2020 | $ | |||
2021 | ||||
2022 | ||||
2023 | ||||
2024 | ||||
2025 | ||||
(Dollars in thousands) | Regional Banking | Fixed Income | Total | |||||||||
December 31, 2018 | $ | $ | $ | |||||||||
Additions | ||||||||||||
June 30, 2019 | $ | $ | $ | |||||||||
December 31, 2019 | $ | $ | $ | |||||||||
Additions | ||||||||||||
June 30, 2020 | $ | $ | $ | |||||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | |||||||||||
All other income and commissions: | |||||||||||||||
Deferred compensation (a) | $ | $ | $ | ( | ) | $ | |||||||||
Other service charges | |||||||||||||||
Mortgage banking | |||||||||||||||
ATM and interchange fees | |||||||||||||||
Letter of credit fees | |||||||||||||||
Electronic banking fees | |||||||||||||||
Dividend income | |||||||||||||||
Insurance commissions | |||||||||||||||
Gain/(loss) on extinguishment of debt | ( | ) | |||||||||||||
Other | |||||||||||||||
Total | $ | $ | $ | $ | |||||||||||
All other expense: | |||||||||||||||
Credit expense on unfunded commitments (b) | $ | $ | ( | ) | $ | $ | ( | ) | |||||||
Non-service components of net periodic pension and post-retirement cost | |||||||||||||||
Other insurance and taxes | |||||||||||||||
Miscellaneous loan costs | |||||||||||||||
Supplies | |||||||||||||||
Employee training and dues | |||||||||||||||
Customer relations | |||||||||||||||
Travel and entertainment | |||||||||||||||
OREO | ( | ) | |||||||||||||
Tax credit investments | |||||||||||||||
Litigation and regulatory matters (c) | ( | ) | ( | ) | |||||||||||
Other | |||||||||||||||
Total | $ | $ | $ | $ | |||||||||||
(a) | Amounts driven by market conditions and are mirrored by changes in deferred compensation expense which is included in employee compensation expense; Six months ended June 30, 2020 decrease driven by equity market valuations. |
(b) | Three and six months ended June 30, 2020 increases largely driven by the economic forecast attributable to the COVID-19 pandemic. |
(c) | Litigation and regulatory matters for the three and six months ended June 30, 2019 includes an $ |
(Dollars in thousands) | Securities AFS | Cash Flow Hedges | Pension and Post-retirement Plans | Total | ||||||||||||
Balance as of April 1, 2020 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
Net unrealized gains/(losses) | ( | ) | ||||||||||||||
Amounts reclassified from AOCI | ( | ) | ||||||||||||||
Other comprehensive income/(loss) | ( | ) | ||||||||||||||
Balance as of June 30, 2020 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
Balance as of January 1, 2020 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
Net unrealized gains/(losses) | ||||||||||||||||
Amounts reclassified from AOCI | ( | ) | ||||||||||||||
Other comprehensive income/(loss) | ||||||||||||||||
Balance as of June 30, 2020 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
(Dollars in thousands) | Securities AFS | Cash Flow Hedges | Pension and Post-retirement Plans | Total | ||||||||||||
Balance as of April 1, 2019 | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Net unrealized gains/(losses) | ||||||||||||||||
Amounts reclassified from AOCI | ||||||||||||||||
Other comprehensive income/(loss) | ||||||||||||||||
Balance as of June 30, 2019 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
Balance as of January 1, 2019 | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Net unrealized gains/(losses) | ||||||||||||||||
Amounts reclassified from AOCI | ||||||||||||||||
Other comprehensive income/(loss) | ||||||||||||||||
Balance as of June 30, 2019 | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
(Dollars in thousands) | Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||
Details about AOCI | 2020 | 2019 | 2020 | 2019 | Affected line item in the statement where net income is presented | |||||||||||||
Securities AFS: | ||||||||||||||||||
Realized (gains)/losses on securities AFS | $ | $ | $ | $ | Debt securities gains/(losses), net | |||||||||||||
Tax expense/(benefit) | ( | ) | ( | ) | Provision/(benefit) for income taxes | |||||||||||||
Cash flow hedges: | ||||||||||||||||||
Realized (gains)/losses on cash flow hedges | ( | ) | ( | ) | Interest and fees on loans | |||||||||||||
Tax expense/(benefit) | ( | ) | ( | ) | Provision/(benefit) for income taxes | |||||||||||||
( | ) | ( | ) | |||||||||||||||
Pension and Postretirement Plans: | ||||||||||||||||||
Amortization of prior service cost and net actuarial gain/(loss) | All other expense | |||||||||||||||||
Tax expense/(benefit) | ( | ) | ( | ) | ( | ) | ( | ) | Provision/(benefit) for income taxes | |||||||||
Total reclassification from AOCI | $ | $ | $ | $ | ||||||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
(Dollars and shares in thousands, except per share data) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Net income/(loss) | $ | $ | $ | $ | |||||||||||
Net income attributable to noncontrolling interest | |||||||||||||||
Net income/(loss) attributable to controlling interest | |||||||||||||||
Preferred stock dividends | |||||||||||||||
Net income/(loss) available to common shareholders | $ | $ | $ | $ | |||||||||||
Weighted average common shares outstanding—basic | |||||||||||||||
Effect of dilutive securities | |||||||||||||||
Weighted average common shares outstanding—diluted | |||||||||||||||
Net income/(loss) per share available to common shareholders | $ | $ | $ | $ | |||||||||||
Diluted income/(loss) per share available to common shareholders | $ | $ | $ | $ | |||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Shares in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Stock options excluded from the calculation of diluted EPS | ||||||||||||||||
Weighted average exercise price of stock options excluded from the calculation of diluted EPS | $ | $ | $ | $ | ||||||||||||
Other equity awards excluded from the calculation of diluted EPS | ||||||||||||||||
Pension Benefits | Other Benefits | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | $ | $ | $ | ||||||||||||
Interest cost | ||||||||||||||||
Expected return on plan assets | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost/(credit) | ||||||||||||||||
Actuarial (gain)/loss | ( | ) | ( | ) | ||||||||||||
Net periodic benefit cost/(credit) | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
Pension Benefits | Other Benefits | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Components of net periodic benefit cost | ||||||||||||||||
Service cost | $ | $ | $ | $ | ||||||||||||
Interest cost | ||||||||||||||||
Expected return on plan assets | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Amortization of unrecognized: | ||||||||||||||||
Prior service cost/(credit) | ||||||||||||||||
Actuarial (gain)/loss | ( | ) | ( | ) | ||||||||||||
Net periodic benefit cost/(credit) | $ | $ | $ | ( | ) | $ | ( | ) | ||||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Consolidated | ||||||||||||||||
Net interest income | $ | $ | $ | $ | ||||||||||||
Provision/(provision credit) for loan losses (a) | ||||||||||||||||
Noninterest income | ||||||||||||||||
Noninterest expense | ||||||||||||||||
Income/(loss) before income taxes | ||||||||||||||||
Provision/(benefit) for income taxes | ||||||||||||||||
Net income/(loss) | $ | $ | $ | $ | ||||||||||||
Average assets | $ | $ | $ | $ | ||||||||||||
(a) | Increase in provision expense for the three and six months ended June 30, 2020 is primarily due to the economic forecast attributable to the COVID-19 pandemic. |
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Regional Banking | ||||||||||||||||
Net interest income | $ | $ | $ | $ | ||||||||||||
Provision/(provision credit) for loan losses (a) | ||||||||||||||||
Noninterest income | ||||||||||||||||
Noninterest expense | ||||||||||||||||
Income/(loss) before income taxes | ||||||||||||||||
Provision/(benefit) for income taxes | ||||||||||||||||
Net income/(loss) | $ | $ | $ | $ | ||||||||||||
Average assets | $ | $ | $ | $ | ||||||||||||
Fixed Income | ||||||||||||||||
Net interest income | $ | $ | $ | $ | ||||||||||||
Noninterest income | ||||||||||||||||
Noninterest expense | ||||||||||||||||
Income/(loss) before income taxes | ||||||||||||||||
Provision/(benefit) for income taxes | ||||||||||||||||
Net income/(loss) | $ | $ | $ | $ | ||||||||||||
Average assets | $ | $ | $ | $ | ||||||||||||
Corporate | ||||||||||||||||
Net interest income/(expense) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Noninterest income (b) | ||||||||||||||||
Noninterest expense (b) (c) (d) | ||||||||||||||||
Income/(loss) before income taxes | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Provision/(benefit) for income taxes | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Net income/(loss) | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Average assets | $ | $ | $ | $ | ||||||||||||
Non-Strategic | ||||||||||||||||
Net interest income | $ | $ | $ | $ | ||||||||||||
Provision/(provision credit) for loan losses (a) | ( | ) | ( | ) | ||||||||||||
Noninterest income | ||||||||||||||||
Noninterest expense | ( | ) | ||||||||||||||
Income/(loss) before income taxes | ||||||||||||||||
Provision/(benefit) for income taxes | ||||||||||||||||
Net income/(loss) | $ | $ | $ | $ | ||||||||||||
Average assets | $ | $ | $ | $ | ||||||||||||
(a) | Increase in provision expense for the three and six months ended June 30, 2020 is primarily due to the economic forecast attributable to the COVID-19 pandemic. |
(b) | Balance for the six months ended June 30, 2020 includes a decrease due to fluctuations in deferred compensation income driven by equity market valuations and mirrored by changes in deferred compensation expense, which is included in employee compensation expense. |
(c) | 2020 and 2019 include acquisition-related expenses and restructuring-related costs associated with efficiency initiatives; refer to Note 2 - Acquisitions and Divestitures and Note 17 - Restructuring, Repositioning, and Efficiency for additional information. |
(d) | Three and six months ended June 30, 2019 includes $ |
Three months ended June 30, 2020 | |||||||||||||||||||
(Dollars in thousands) | Regional Banking | Fixed Income | Corporate | Non-Strategic | Consolidated | ||||||||||||||
Noninterest income: | |||||||||||||||||||
Fixed income (a) | $ | $ | $ | $ | $ | ||||||||||||||
Deposit transactions and cash management | |||||||||||||||||||
Brokerage, management fees and commissions | |||||||||||||||||||
Trust services and investment management | ( | ) | |||||||||||||||||
Bankcard income | |||||||||||||||||||
BOLI (b) | |||||||||||||||||||
Debt securities gains/(losses), net (b) | |||||||||||||||||||
Equity securities gains/(losses), net (b) | ( | ) | ( | ) | |||||||||||||||
All other income and commissions (c) | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
(a) | Includes $ |
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. |
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. |
Three months ended June 30, 2019 | |||||||||||||||||||
(Dollars in thousands) | Regional Banking | Fixed Income | Corporate | Non- Strategic | Consolidated | ||||||||||||||
Noninterest income: | |||||||||||||||||||
Fixed income (a) | $ | $ | $ | $ | $ | ||||||||||||||
Deposit transactions and cash management | |||||||||||||||||||
Brokerage, management fees and commissions | |||||||||||||||||||
Trust services and investment management | ( | ) | |||||||||||||||||
Bankcard income | ( | ) | |||||||||||||||||
BOLI (b) | |||||||||||||||||||
Debt securities gains/(losses), net (b) | ( | ) | ( | ) | |||||||||||||||
Equity securities gains/(losses), net (b) | |||||||||||||||||||
All other income and commissions (c) | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
(a) | Includes $ |
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile |
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC |
Six Months Ended June 30, 2020 | |||||||||||||||||||
(Dollars in thousands) | Regional Banking | Fixed Income | Corporate | Non-Strategic | Consolidated | ||||||||||||||
Noninterest income: | |||||||||||||||||||
Fixed income (a) | $ | $ | $ | $ | $ | ||||||||||||||
Deposit transactions and cash management | |||||||||||||||||||
Brokerage, management fees and commissions | |||||||||||||||||||
Trust services and investment management | ( | ) | |||||||||||||||||
Bankcard income | |||||||||||||||||||
BOLI (b) | |||||||||||||||||||
Debt securities gains/(losses), net (b) | |||||||||||||||||||
Equity securities gains/(losses), net (b) | ( | ) | ( | ) | |||||||||||||||
All other income and commissions (c) (d) | ( | ) | |||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
(a) | Includes $ |
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. |
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606. |
(d) | Corporate balance includes negative deferred compensation income driven by equity market valuations. |
Six Months Ended June 30, 2019 | |||||||||||||||||||
(Dollars in thousands) | Regional Banking | Fixed Income | Corporate | Non- Strategic | Consolidated | ||||||||||||||
Noninterest income: | |||||||||||||||||||
Fixed income (a) | $ | $ | $ | $ | $ | ||||||||||||||
Deposit transactions and cash management | |||||||||||||||||||
Brokerage, management fees and commissions | |||||||||||||||||||
Trust services and investment management | ( | ) | |||||||||||||||||
Bankcard income | ( | ) | |||||||||||||||||
BOLI (b) | |||||||||||||||||||
Debt securities gains/(losses), net (b) | ( | ) | ( | ) | |||||||||||||||
Equity securities gains/(losses), net (b) | |||||||||||||||||||
All other income and commissions (c) | |||||||||||||||||||
Total noninterest income | $ | $ | $ | $ | $ | ||||||||||||||
(a) | Includes $ |
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile |
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC |
(Dollars in thousands) | June 30, 2020 | December 31, 2019 | ||||||
Assets: | ||||||||
Other assets | $ | $ | ||||||
Total assets | $ | $ | ||||||
Liabilities: | ||||||||
Other liabilities | $ | $ | ||||||
Total liabilities | $ | $ | ||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Provision/(benefit) for income taxes: | ||||||||||||||||
Amortization of qualifying LIHTC investments | $ | $ | $ | $ | ||||||||||||
Low income housing tax credits | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Other tax benefits related to qualifying LIHTC investments | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
(Dollars in thousands) | Maximum Loss Exposure | Liability Recognized | Classification | |||||||
Type | ||||||||||
Low income housing partnerships | $ | $ | (a) | |||||||
Other tax credit investments (b) | Other assets | |||||||||
Small issuer trust preferred holdings (c) | Loans, net of unearned income | |||||||||
On-balance sheet trust preferred securitization | (d) | |||||||||
Proprietary residential mortgage securitizations | Trading securities | |||||||||
Holdings of agency mortgage-backed securities (c) | (e) | |||||||||
Commercial loan troubled debt restructurings (f) | Loans, net of unearned income | |||||||||
Sale-leaseback transaction | (g) | |||||||||
Proprietary trust preferred issuances (h) | Term borrowings | |||||||||
(a) | Maximum loss exposure represents $ |
(b) | A liability is not recognized as investments are written down over the life of the related tax credit. Maximum loss exposure represents the value of current investments. |
(c) | Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. |
(d) | Includes $ |
(e) | Includes $ |
(f) | Maximum loss exposure represents $ |
(g) | Maximum loss exposure represents the current loan balance plus additional funding commitments. |
(h) | No exposure to loss due to nature of FHN's involvement. |
(Dollars in thousands) | Maximum Loss Exposure | Liability Recognized | Classification | |||||||
Type | ||||||||||
Low income housing partnerships | $ | $ | (a) | |||||||
Other tax credit investments (b) (c) | Other assets | |||||||||
Small issuer trust preferred holdings (d) | Loans, net of unearned income | |||||||||
On-balance sheet trust preferred securitization | (e) | |||||||||
Proprietary residential mortgage securitizations | Trading securities | |||||||||
Holdings of agency mortgage-backed securities (d) | (f) | |||||||||
Commercial loan troubled debt restructurings (g) | Loans, net of unearned income | |||||||||
Sale-leaseback transaction | (h) | |||||||||
Proprietary trust preferred issuances (i) | Term borrowings | |||||||||
(a) | Maximum loss exposure represents $ |
(b) | A liability is not recognized as investments are written down over the life of the related tax credit. |
(c) | Maximum loss exposure represents current investment balance. As of December 31, 2019, there were no investments funded through loans from community development enterprises. |
(d) | Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. |
(e) | Includes $ |
(f) | Includes $ |
(g) | Maximum loss exposure represents $ |
(h) | Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. |
(i) |
June 30, 2020 | ||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||
Customer interest rate contracts | $ | $ | $ | |||||||||
Offsetting upstream interest rate contracts | ||||||||||||
Forwards and futures purchased | ||||||||||||
Forwards and futures sold | ||||||||||||
December 31, 2019 | ||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||
Customer interest rate contracts | $ | $ | $ | |||||||||
Offsetting upstream interest rate contracts | ||||||||||||
Option contracts purchased | ||||||||||||
Forwards and futures purchased | ||||||||||||
Forwards and futures sold | ||||||||||||
June 30, 2020 | ||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||
Customer interest rate contracts | $ | $ | $ | |||||||||
Offsetting upstream interest rate contracts | ||||||||||||
Debt Hedging | ||||||||||||
Hedging Instruments: | ||||||||||||
Interest rate swaps | $ | $ | N/A | |||||||||
Hedged Items: | ||||||||||||
Term borrowings: | ||||||||||||
Par | N/A | N/A | $ | |||||||||
Cumulative fair value hedging adjustments | N/A | N/A | ||||||||||
Unamortized premium/(discount) and issuance costs | N/A | N/A | ( | ) | ||||||||
Total carrying value | N/A | N/A | $ | |||||||||
December 31, 2019 | ||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||
Customer Interest Rate Contracts Hedging | ||||||||||||
Hedging Instruments and Hedged Items: | ||||||||||||
Customer interest rate contracts | $ | $ | $ | |||||||||
Offsetting upstream interest rate contracts | ||||||||||||
Debt Hedging | ||||||||||||
Hedging Instruments: | ||||||||||||
Interest rate swaps | $ | N/A | $ | |||||||||
Hedged Items: | ||||||||||||
Term borrowings: | ||||||||||||
Par | N/A | N/A | $ | |||||||||
Cumulative fair value hedging adjustments | N/A | N/A | ( | ) | ||||||||
Unamortized premium/(discount) and issuance costs | N/A | N/A | ( | ) | ||||||||
Total carrying value | N/A | N/A | $ | |||||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
(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) | $ | $ | $ | $ | ||||||||||||
Offsetting upstream interest rate contracts (a) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
Debt Hedging | ||||||||||||||||
Hedging Instruments: | ||||||||||||||||
Interest rate swaps (b) | $ | ( | ) | $ | $ | $ | ||||||||||
Hedged Items: | ||||||||||||||||
Term borrowings (a) (c) | ( | ) | ( | ) | ( | ) | ||||||||||
(a) | Gains/losses included in All other expense within the Consolidated Condensed Statements of Income. |
(b) | Gains/losses included in the Interest expense. |
(c) | Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. |
June 30, 2020 | ||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||
Cash Flow Hedges | ||||||||||||
Hedging Instruments: | ||||||||||||
Interest rate swaps | $ | $ | $ | |||||||||
Hedged Items: | ||||||||||||
Variability in cash flows related to debt instruments (primarily loans) | N/A | $ | N/A | |||||||||
December 31, 2019 | ||||||||||||
(Dollars in thousands) | Notional | Assets | Liabilities | |||||||||
Cash Flow Hedges | ||||||||||||
Hedging Instruments: | ||||||||||||
Interest rate swaps | $ | N/A | $ | |||||||||
Hedged Items: | ||||||||||||
Variability in cash flows related to debt instruments (primarily loans) | N/A | $ | N/A | |||||||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
(Dollars in thousands) | Gains/(Losses) | Gains/(Losses) | Gains/(Losses) | Gains/(Losses) | ||||||||||||
Cash Flow Hedges | ||||||||||||||||
Hedging Instruments: | ||||||||||||||||
Interest rate swaps (a) | $ | $ | $ | $ | ||||||||||||
Gain/(loss) recognized in Other comprehensive income/(loss) | ||||||||||||||||
Gain/(loss) reclassified from AOCI into Interest income | ( | ) | ( | ) | ||||||||||||
(a) | Approximately $ |
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, 2020 | ||||||||||||||||||||||||
Interest rate derivative contracts | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | ||||||||||||||
Forward contracts | ( | ) | ( | ) | ||||||||||||||||||||
$ | $ | $ | $ | ( | ) | $ | ( | ) | $ | |||||||||||||||
December 31, 2019 | ||||||||||||||||||||||||
Interest rate derivative contracts | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | ||||||||||||||
Forward contracts | ( | ) | ( | ) | ||||||||||||||||||||
$ | $ | $ | $ | ( | ) | $ | ( | ) | $ | |||||||||||||||
(a) | Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of June 30, 2020 and December 31, 2019, $ |
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, 2020 | ||||||||||||||||||||||||
Interest rate derivative contracts | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | ||||||||||||||
Forward contracts | ( | ) | ( | ) | ||||||||||||||||||||
$ | $ | $ | $ | ( | ) | $ | ( | ) | $ | |||||||||||||||
December 31, 2019 | ||||||||||||||||||||||||
Interest rate derivative contracts | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | ||||||||||||||
Forward contracts | ( | ) | ( | ) | ||||||||||||||||||||
$ | $ | $ | $ | ( | ) | $ | ( | ) | $ | |||||||||||||||
(a) | Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2020 and December 31, 2019, $ |
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, 2020 | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | ||||||||||||||
December 31, 2019 | ( | ) | ( | ) | ||||||||||||||||||||
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, 2020 | $ | $ | $ | $ | ( | ) | $ | ( | ) | $ | ||||||||||||||
December 31, 2019 | ( | ) | ( | ) | ||||||||||||||||||||
June 30, 2020 | ||||||||||||
(Dollars in thousands) | Overnight and Continuous | Up to 30 Days | Total | |||||||||
Securities sold under agreements to repurchase: | ||||||||||||
U.S. treasuries | $ | $ | $ | |||||||||
Government agency issued MBS | ||||||||||||
Government agency issued CMO | ||||||||||||
Other U.S. government agencies | ||||||||||||
Government guaranteed loans (SBA and USDA) | ||||||||||||
Total Securities sold under agreements to repurchase | $ | $ | $ | |||||||||
December 31, 2019 | ||||||||||||
(Dollars in thousands) | Overnight and Continuous | Up to 30 Days | Total | |||||||||
Securities sold under agreements to repurchase: | ||||||||||||
U.S. treasuries | $ | $ | $ | |||||||||
Government agency issued MBS | ||||||||||||
Other U.S. government agencies | ||||||||||||
Government guaranteed loans (SBA and USDA) | ||||||||||||
Total Securities sold under agreements to repurchase | $ | $ | $ | |||||||||
• | Level 1—Valuation is based upon quoted prices for identical instruments traded in active markets. |
• | Level 2—Valuation is based upon quoted prices for similar instruments in active markets, quoted |
• | Level 3—Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models, and similar techniques. |
June 30, 2020 | ||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Trading securities—fixed income: | ||||||||||||||||
U.S. treasuries | $ | $ | $ | $ | ||||||||||||
Government agency issued MBS | ||||||||||||||||
Government agency issued CMO | ||||||||||||||||
Other U.S. government agencies | ||||||||||||||||
States and municipalities | ||||||||||||||||
Corporate and other debt | ||||||||||||||||
Equity, mutual funds, and other | ( | ) | ( | ) | ||||||||||||
Total trading securities—fixed income | ||||||||||||||||
Trading securities—mortgage banking | ||||||||||||||||
Loans held-for-sale (elected fair value) | ||||||||||||||||
Securities available-for-sale: | ||||||||||||||||
U.S. treasuries | ||||||||||||||||
Government agency issued MBS | ||||||||||||||||
Government agency issued CMO | ||||||||||||||||
Other U.S. government agencies | ||||||||||||||||
States and municipalities | ||||||||||||||||
Corporate and other debt | ||||||||||||||||
Interest-Only Strip (elected fair value) | ||||||||||||||||
Total securities available-for-sale | ||||||||||||||||
Other assets: | ||||||||||||||||
Deferred compensation mutual funds | ||||||||||||||||
Equity, mutual funds, and other | ||||||||||||||||
Derivatives, forwards and futures | ||||||||||||||||
Derivatives, interest rate contracts | ||||||||||||||||
Derivatives, other | ||||||||||||||||
Total other assets | ||||||||||||||||
Total assets | $ | $ | $ | $ | ||||||||||||
Trading liabilities—fixed income: | ||||||||||||||||
U.S. treasuries | $ | $ | $ | $ | ||||||||||||
Other U.S.government agencies | ||||||||||||||||
States and municipalities | ||||||||||||||||
Corporate and other debt | ||||||||||||||||
Total trading liabilities—fixed income | ||||||||||||||||
Other liabilities: | ||||||||||||||||
Derivatives, forwards and futures | ||||||||||||||||
Derivatives, interest rate contracts | ||||||||||||||||
Derivatives, other | ||||||||||||||||
Total other liabilities | ||||||||||||||||
Total liabilities | $ | $ | $ | $ | ||||||||||||
December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Trading securities—fixed income: | ||||||||||||||||
U.S. treasuries | $ | $ | $ | $ | ||||||||||||
Government agency issued MBS | ||||||||||||||||
Government agency issued CMO | ||||||||||||||||
Other U.S. government agencies | ||||||||||||||||
States and municipalities | ||||||||||||||||
Corporate and other debt | ||||||||||||||||
Equity, mutual funds, and other | ||||||||||||||||
Total trading securities—fixed income | ||||||||||||||||
Trading securities—mortgage banking | ||||||||||||||||
Loans held-for-sale (elected fair value) | ||||||||||||||||
Securities available-for-sale: | ||||||||||||||||
U.S. treasuries | ||||||||||||||||
Government agency issued MBS | ||||||||||||||||
Government agency issued CMO | ||||||||||||||||
Other U.S. government agencies | ||||||||||||||||
States and municipalities | ||||||||||||||||
Corporate and other debt | ||||||||||||||||
Interest-Only Strip (elected fair value) | ||||||||||||||||
Total securities available-for-sale | ||||||||||||||||
Other assets: | ||||||||||||||||
Deferred compensation mutual funds | ||||||||||||||||
Equity, mutual funds, and other | ||||||||||||||||
Derivatives, forwards and futures | ||||||||||||||||
Derivatives, interest rate contracts | ||||||||||||||||
Derivatives, other | ||||||||||||||||
Total other assets | ||||||||||||||||
Total assets | $ | $ | $ | $ | ||||||||||||
Trading liabilities—fixed income: | ||||||||||||||||
U.S. treasuries | $ | $ | $ | $ | ||||||||||||
Other U.S. government agencies | ||||||||||||||||
Government agency issued MBS | ||||||||||||||||
Corporate and other debt | ||||||||||||||||
Total trading liabilities—fixed income | ||||||||||||||||
Other liabilities: | ||||||||||||||||
Derivatives, forwards and futures | ||||||||||||||||
Derivatives, interest rate contracts | ||||||||||||||||
Derivatives, other | ||||||||||||||||
Total other liabilities | ||||||||||||||||
Total liabilities | $ | $ | $ | $ | ||||||||||||
Three Months Ended June 30, 2020 | ||||||||||||||||||||||||
(Dollars in thousands) | Trading securities | Interest- only strips- AFS | Loans held- for-sale | Net derivative liabilities | ||||||||||||||||||||
Balance on April 1, 2020 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Total net gains/(losses) included in: | ||||||||||||||||||||||||
Net income | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
Purchases | ||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||
Settlements | ( | ) | ||||||||||||||||||||||
Net transfers into/(out of) Level 3 | (b) | |||||||||||||||||||||||
Balance on June 30, 2020 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | (a) | $ | ( | ) | (c) | $ | (a) | $ | ( | ) | (d) | ||||||||||||
Three Months Ended June 30, 2019 | ||||||||||||||||||||||||
(Dollars in thousands) | Trading securities | Interest-only-strips-AFS | Loans held-for-sale | Net derivative liabilities | ||||||||||||||||||||
Balance on April 1, 2019 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Total net gains/(losses) included in: | ||||||||||||||||||||||||
Net income | ( | ) | ( | ) | ||||||||||||||||||||
Purchases | ||||||||||||||||||||||||
Sales | ( | ) | ||||||||||||||||||||||
Settlements | ( | ) | ( | ) | ||||||||||||||||||||
Net transfers into/(out of) Level 3 | (b) | |||||||||||||||||||||||
Balance on June 30, 2019 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | ( | ) | (a) | $ | ( | ) | (c) | $ | (a) | $ | ( | ) | (d) | ||||||||||
(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) | Included in Other expense. |
Six Months Ended June 30, 2020 | ||||||||||||||||||||||||
(Dollars in thousands) | Trading securities | Interest- only strips- AFS | Loans held- for-sale | Net derivative liabilities | ||||||||||||||||||||
Balance on January 1, 2020 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Total net gains/(losses) included in: | ||||||||||||||||||||||||
Net income | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
Purchases | ||||||||||||||||||||||||
Sales | ( | ) | ||||||||||||||||||||||
Settlements | ( | ) | ||||||||||||||||||||||
Net transfers into/(out of) Level 3 | (b) | |||||||||||||||||||||||
Balance on June 30, 2020 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | (a) | $ | ( | ) | (c) | $ | (a) | $ | ( | ) | (d) | ||||||||||||
Six Months Ended June 30, 2019 | ||||||||||||||||||||||||
(Dollars in thousands) | Trading securities | Interest-only-strips-AFS | Loans held-for-sale | Net derivative liabilities | ||||||||||||||||||||
Balance on January 1, 2019 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Total net gains/(losses) included in: | ||||||||||||||||||||||||
Net income | ( | ) | ||||||||||||||||||||||
Purchases | ||||||||||||||||||||||||
Sales | ( | ) | ||||||||||||||||||||||
Settlements | ( | ) | ( | ) | ||||||||||||||||||||
Net transfers into/(out of) Level 3 | (b) | |||||||||||||||||||||||
Balance on June 30, 2019 | $ | $ | $ | $ | ( | ) | ||||||||||||||||||
Net unrealized gains/(losses) included in net income | $ | ( | ) | (a) | $ | ( | ) | (c) | $ | (a) | $ | (d) | ||||||||||||
(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) | Included in Other expense. |
Carrying value at June 30, 2020 | ||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Loans held-for-sale—SBAs and USDA | $ | $ | $ | $ | ||||||||||||
Loans held-for-sale—first mortgages | ||||||||||||||||
Loans, net of unearned income (a) | ||||||||||||||||
OREO (b) | ||||||||||||||||
Other assets (c) | ||||||||||||||||
Carrying value at December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Loans held-for-sale—SBAs and USDA | $ | $ | $ | $ | ||||||||||||
Loans held-for-sale—first mortgages | ||||||||||||||||
Loans, net of unearned income (a) | ||||||||||||||||
OREO (b) | ||||||||||||||||
Other assets (c) | ||||||||||||||||
(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 and related losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages. |
(c) |
Net gains/(losses) Three Months Ended June 30 | Net gains/(losses) Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Loans held-for-sale—SBAs and USDA | $ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | ||||
Loans held-for-sale—first mortgages | ( | ) | ||||||||||||||
Loans, net of unearned income (a) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
OREO (b) | ( | ) | ( | ) | ( | ) | ||||||||||
Other assets (c) | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
$ | ( | ) | $ | ( | ) | $ | ( | ) | $ | ( | ) | |||||
(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. |
(Dollars in thousands) | ||||||||||||
Values Utilized | ||||||||||||
Level 3 Class | Fair Value at June 30, 2020 | Valuation Techniques | Unobservable Input | Range | Weighted Average (d) | |||||||
Available-for-sale- securities SBA-interest only strips | $ | Discounted cash flow | Constant prepayment rate | 12% | ||||||||
Bond equivalent yield | 14% - 15% | |||||||||||
Loans held-for-sale - residential real estate | Discounted cash flow | Prepayment speeds - First mortgage | 5% - 15% | |||||||||
Foreclosure losses | 50% - 65% | |||||||||||
Loss severity trends - First mortgage | 4% - 21% of UPB | |||||||||||
Loans held-for-sale- unguaranteed interest in SBA loans | Discounted cash flow | Constant prepayment rate | 8% - 12% | |||||||||
Bond equivalent yield | ||||||||||||
Derivative liabilities, other | Discounted cash flow | Visa covered litigation resolution amount | $5.4 billion - $6.0 billion | $ | ||||||||
Probability of resolution scenarios | 10% - 50% | |||||||||||
Time until resolution | 9 - 33 months | |||||||||||
Loans, net of unearned income (a) | Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 10% of appraisal | NM | ||||||||
Other collateral valuations | Borrowing base certificates adjustment | 20% - 50% of gross value | NM | |||||||||
Financial Statements/Auction values adjustment | 0% - 25% of reported value | NM | ||||||||||
OREO (b) | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | NM | ||||||||
Other assets (c) | Discounted cash flow | Adjustments to current sales yields for specific properties | 0% - 15% adjustment to yield | NM | ||||||||
Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 25% of appraisal | NM | |||||||||
(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. |
(d) | Weighted averages are determined by the relative fair value of the instruments or the relative contribution to an instrument's fair value. |
(Dollars in thousands) | ||||||||||||
Values Utilized | ||||||||||||
Level 3 Class | Fair Value at December 31, 2019 | Valuation Techniques | Unobservable Input | Range | Weighted Average (d) | |||||||
Available-for-sale- securities SBA-interest only strips | $ | Discounted cash flow | Constant prepayment rate | 12% | ||||||||
Bond equivalent yield | 16% - 17% | |||||||||||
Loans held-for-sale - residential real estate | Discounted cash flow | Prepayment speeds - First mortgage | 3% - 14% | |||||||||
Prepayment speeds - HELOC | 0% - 12% | |||||||||||
Foreclosure losses | 50% - 66% | |||||||||||
Loss severity trends - First mortgage | 3% - 24% of UPB | |||||||||||
Loss severity trends - HELOC | 0% - 72% of UPB | |||||||||||
Loans held-for-sale- unguaranteed interest in SBA loans | Discounted cash flow | Constant prepayment rate | 8% - 12% | |||||||||
Bond equivalent yield | ||||||||||||
Derivative liabilities, other | Discounted cash flow | Visa covered litigation resolution amount | $5.4 billion - $6.0 billion | $ | ||||||||
Probability of resolution scenarios | 10% - 50% | |||||||||||
Time until resolution | 15 - 39 months | |||||||||||
Loans, net of unearned income (a) | Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 10% of appraisal | NM | ||||||||
Other collateral valuations | Borrowing base certificates adjustment | 20% - 50% of gross value | NM | |||||||||
Financial Statements/Auction values adjustment | 0% - 25% of reported value | NM | ||||||||||
OREO (b) | Appraisals from comparable properties | Adjustment for value changes since appraisal | 0% - 10% of appraisal | NM | ||||||||
Other assets (c) | Discounted cash flow | Adjustments to current sales yields for specific properties | 0% - 15% adjustment to yield | NM | ||||||||
Appraisals from comparable properties | Marketability adjustments for specific properties | 0% - 25% of appraisal | NM | |||||||||
(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. |
(d) | Weighted averages are determined by the relative fair value of the instruments or the relative contribution to an instrument's fair value. |
June 30, 2020 | ||||||||||||
(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 | $ | $ | $ | ( | ) | |||||||
Nonaccrual loans | ( | ) | ||||||||||
Loans 90 days or more past due and still accruing | ( | ) | ||||||||||
December 31, 2019 | ||||||||||||
(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 | $ | $ | $ | ( | ) | |||||||
Nonaccrual loans | ( | ) | ||||||||||
Loans 90 days or more past due and still accruing | ( | ) | ||||||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Changes in fair value included in net income: | |||||||||||||||
Mortgage banking noninterest income | |||||||||||||||
Loans held-for-sale | $ | $ | $ | $ | |||||||||||
June 30, 2020 | ||||||||||||||||||||
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 | $ | $ | $ | $ | $ | |||||||||||||||
Commercial real estate | ||||||||||||||||||||
Consumer: | ||||||||||||||||||||
Consumer real estate (a) | ||||||||||||||||||||
Credit card & other | ||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | ||||||||||||||||||||
Short-term financial assets: | ||||||||||||||||||||
Interest-bearing cash | ||||||||||||||||||||
Federal funds sold | ||||||||||||||||||||
Securities purchased under agreements to resell | ||||||||||||||||||||
Total short-term financial assets | ||||||||||||||||||||
Trading securities (b) | ||||||||||||||||||||
Loans held-for-sale | ||||||||||||||||||||
Mortgage loans (elected fair value) (b) | ||||||||||||||||||||
USDA & SBA loans- LOCOM | ||||||||||||||||||||
Other consumer loans- LOCOM | ||||||||||||||||||||
Mortgage loans- LOCOM | ||||||||||||||||||||
Total loans held-for-sale | ||||||||||||||||||||
Securities available-for-sale (b) | ||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||
Derivative assets (b) | ||||||||||||||||||||
Other assets: | ||||||||||||||||||||
Tax credit investments | ||||||||||||||||||||
Deferred compensation mutual funds | ||||||||||||||||||||
Equity, mutual funds, and other (c) | ||||||||||||||||||||
Total other assets | ||||||||||||||||||||
Total assets | $ | $ | $ | $ | $ | |||||||||||||||
Liabilities: | ||||||||||||||||||||
Defined maturity deposits | $ | $ | $ | $ | $ | |||||||||||||||
Trading liabilities (b) | ||||||||||||||||||||
Short-term financial liabilities: | ||||||||||||||||||||
Federal funds purchased | ||||||||||||||||||||
Securities sold under agreements to repurchase | ||||||||||||||||||||
Other short-term borrowings | ||||||||||||||||||||
Total short-term financial liabilities | ||||||||||||||||||||
Term borrowings: | ||||||||||||||||||||
Real estate investment trust-preferred | ||||||||||||||||||||
Secured borrowings | ||||||||||||||||||||
Junior subordinated debentures | ||||||||||||||||||||
Other long term borrowings | ||||||||||||||||||||
Total term borrowings | ||||||||||||||||||||
Derivative liabilities (b) | ||||||||||||||||||||
Total liabilities | $ | $ | $ | $ | $ | |||||||||||||||
(a) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
(b) | Classes are detailed in the recurring and nonrecurring measurement tables. |
(c) | Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $ |
December 31, 2019 | ||||||||||||||||||||
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 | $ | $ | $ | $ | $ | |||||||||||||||
Commercial real estate | ||||||||||||||||||||
Consumer: | ||||||||||||||||||||
Consumer real estate | ||||||||||||||||||||
Credit card & other | ||||||||||||||||||||
Total loans, net of unearned income and allowance for loan losses | ||||||||||||||||||||
Short-term financial assets: | ||||||||||||||||||||
Interest-bearing cash | ||||||||||||||||||||
Federal funds sold | ||||||||||||||||||||
Securities purchased under agreements to resell | ||||||||||||||||||||
Total short-term financial assets | ||||||||||||||||||||
Trading securities (a) | ||||||||||||||||||||
Loans held-for-sale | ||||||||||||||||||||
Mortgage loans (elected fair value) (a) | ||||||||||||||||||||
USDA & SBA loans- LOCOM | ||||||||||||||||||||
Other consumer loans- LOCOM | ||||||||||||||||||||
Mortgage loans- LOCOM | ||||||||||||||||||||
Total loans held-for-sale | ||||||||||||||||||||
Securities available-for-sale (a) | ||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||
Derivative assets (a) | ||||||||||||||||||||
Other assets: | ||||||||||||||||||||
Tax credit investments | ||||||||||||||||||||
Deferred compensation assets | ||||||||||||||||||||
Equity, mutual funds, and other (b) | ||||||||||||||||||||
Total other assets | ||||||||||||||||||||
Total assets | $ | $ | $ | $ | $ | |||||||||||||||
Liabilities: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Defined maturity | $ | $ | $ | $ | $ | |||||||||||||||
Trading liabilities (a) | ||||||||||||||||||||
Short-term financial liabilities: | ||||||||||||||||||||
Federal funds purchased | ||||||||||||||||||||
Securities sold under agreements to repurchase | ||||||||||||||||||||
Other short-term borrowings | ||||||||||||||||||||
Total short-term financial liabilities | ||||||||||||||||||||
Term borrowings: | ||||||||||||||||||||
Real estate investment trust-preferred | ||||||||||||||||||||
Secured Borrowings | ||||||||||||||||||||
Junior subordinated debentures | ||||||||||||||||||||
Other long term borrowings | ||||||||||||||||||||
Total term borrowings | ||||||||||||||||||||
Derivative liabilities (a) | ||||||||||||||||||||
Total liabilities | $ | $ | $ | $ | $ | |||||||||||||||
(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 $ |
Contractual Amount | Fair Value | |||||||||||||||
(Dollars in thousands) | June 30, 2020 | December 31, 2019 | June 30, 2020 | December 31, 2019 | ||||||||||||
Unfunded Commitments: | ||||||||||||||||
Loan commitments | $ | $ | $ | $ | ||||||||||||
Standby and other commitments | ||||||||||||||||
• | Severance and other employee costs primarily related to efficiency initiatives within corporate |
• | Expense largely related to the identification of efficiency opportunities within the organization which is reflected in Professional fees. |
• | Expense related to costs associated with asset impairments which is reflected in Other expense. |
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
Dollars in thousands | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Employee compensation, incentives and benefits | $ | $ | $ | $ | ||||||||||||
Professional fees | ||||||||||||||||
Occupancy | ||||||||||||||||
Other | ( | ) | ||||||||||||||
Total restructuring, repositioning, and efficiency charges | $ | $ | $ | $ | ||||||||||||
General Information | ||||
• | Regional banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial customers primarily in the southeast U.S. and other selected markets. Regional banking also provides investments, wealth management, financial planning, trust services and asset management, mortgage banking, credit card, and cash management. Additionally, the regional banking segment includes correspondent banking which provides credit, depository, and other banking related services to other financial institutions nationally. |
• | Fixed income segment consists of fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales. |
• | Corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, derivative valuation adjustments related to prior sales of Visa Class B shares, gain/(loss) on extinguishment of debt, acquisition- and integration-related costs, expenses associated with rebranding initiatives, and various charges related |
• | Non-strategic segment consists of run-off consumer lending activities, pre-2009 mortgage banking elements, and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses. |
Forward-Looking Statements | ||||
Financial Summary | ||||
As of or for the three months ended June 30, | As of or for the six months ended June 30, | |||||||||||||||
(Dollars in thousands, except per share data) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Pre-Provision Net Revenue ("PPNR") (a) | $ | 179,445 | $ | 161,209 | $ | 354,684 | $ | 300,672 | ||||||||
Diluted earnings per common share | $ | 0.17 | $ | 0.35 | $ | 0.21 | $ | 0.66 | ||||||||
Return on average assets (annualized) (b) | 0.48 | % | 1.11 | % | 0.32 | % | 1.07 | % | ||||||||
Return on average common equity (“ROCE”) (annualized) (c) | 4.50 | % | 9.79 | % | 2.79 | % | 9.45 | % | ||||||||
Return on average tangible common equity (“ROTCE”) (annualized) (a) (d) | 6.74 | % | 15.20 | % | 4.19 | % | 19.63 | % | ||||||||
Net interest margin (e) | 2.90 | % | 3.34 | % | 3.02 | % | 3.32 | % | ||||||||
Fee income to total revenue (f) | 40.49 | % | 34.22 | % | 38.61 | % | 33.33 | % | ||||||||
Efficiency ratio (g) | 64.74 | % | 65.08 | % | 64.96 | % | 66.49 | % | ||||||||
Allowance for loan losses to loans | 1.64 | % | 0.65 | % | 1.64 | % | 0.65 | % | ||||||||
Net charge-offs to average loans (annualized) | 0.20 | % | 0.07 | % | 0.15 | % | 0.07 | % | ||||||||
Total period-end equity to period-end assets | 10.71 | % | 11.68 | % | 10.71 | % | 11.68 | % | ||||||||
Tangible common equity to tangible assets ("TCE/TA") (a) | 6.63 | % | 7.29 | % | 6.63 | % | 7.29 | % | ||||||||
Cash dividends declared per common share | $ | 0.15 | $ | 0.14 | $ | 0.30 | $ | 0.28 | ||||||||
Book value per common share | $ | 14.96 | $ | 14.51 | $ | 14.96 | $ | 14.51 | ||||||||
Tangible book value per common share (a) | $ | 9.99 | $ | 9.47 | $ | 9.99 | $ | 9.47 | ||||||||
Common equity Tier 1 | 9.25 | % | 9.25 | % | 9.25 | % | 9.25 | % | ||||||||
Market capitalization (millions) | $ | 3,111.10 | $ | 4,665.30 | $ | 3,111.10 | $ | 4,665.30 | ||||||||
(e) | Net interest margin is computed using total net interest income adjusted to an FTE basis assuming a statutory federal income tax rate of 21 percent and, where applicable, state income taxes. |
(f) | Ratio is fee income excluding securities gains/(losses) to total revenue excluding securities gains/(losses). |
(g) | Ratio is noninterest expense to total revenue excluding securities gains/(losses). |
Business Line Review | ||||
Income Statement Review | ||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||
Assets: | |||||||||||
Earning assets: | |||||||||||
Loans, net of unearned income: | |||||||||||
Commercial loans | 3.56 | % | 5.05 | % | 3.92 | % | 5.06 | % | |||
Consumer loans | 4.00 | 4.65 | 4.17 | 4.62 | |||||||
Total loans, net of unearned income | 3.65 | 4.95 | 3.97 | 4.95 | |||||||
Loans held-for-sale | 3.61 | 5.36 | 4.08 | 5.64 | |||||||
Investment securities: | |||||||||||
U.S. government agencies | 2.05 | 2.61 | 2.19 | 2.64 | |||||||
States and municipalities | 3.48 | 3.31 | 3.43 | 3.76 | |||||||
Corporates and other debt | 4.71 | 4.41 | 4.69 | 4.39 | |||||||
U.S. treasuries | 0.12 | NM | 0.12 | NM | |||||||
Other | 33.42 | 34.73 | 33.67 | 34.64 | |||||||
Total investment securities | 2.23 | 2.74 | 2.37 | 2.76 | |||||||
Trading securities | 2.48 | 3.41 | 2.73 | 3.60 | |||||||
Other earning assets: | |||||||||||
Federal funds sold | 0.22 | 2.74 | 0.44 | 2.66 | |||||||
Securities purchased under agreements to resell (a) | (0.08 | ) | 2.23 | 0.74 | 2.22 | ||||||
Interest-bearing cash | 0.09 | 2.28 | 0.35 | 2.37 | |||||||
Total other earning assets | 0.06 | 2.27 | 0.49 | 2.34 | |||||||
Interest income / total earning assets | 3.29 | % | 4.52 | % | 3.60 | % | 4.51 | % | |||
Liabilities: | |||||||||||
Interest-bearing liabilities: | |||||||||||
Interest-bearing deposits: | |||||||||||
Savings | 0.36 | % | 1.29 | % | 0.60 | % | 1.32 | % | |||
Other interest-bearing deposits | 0.13 | 0.98 | 0.38 | 1.02 | |||||||
Time deposits | 1.31 | 2.01 | 1.51 | 1.96 | |||||||
Total interest-bearing deposits | 0.38 | 1.32 | 0.63 | 1.33 | |||||||
Federal funds purchased | 0.12 | 2.43 | 0.57 | 2.46 | |||||||
Securities sold under agreements to repurchase | 0.36 | 2.08 | 0.79 | 2.07 | |||||||
Fixed income trading liabilities | 1.11 | 2.75 | 1.56 | 2.87 | |||||||
Other short-term borrowings | 0.17 | 2.66 | 0.94 | 2.77 | |||||||
Term borrowings | 3.96 | 4.96 | 3.97 | 4.93 | |||||||
Interest expense / total interest-bearing liabilities | 0.54 | 1.58 | 0.79 | 1.57 | |||||||
Net interest spread | 2.75 | % | 2.94 | % | 2.81 | % | 2.94 | % | |||
Effect of interest-free sources used to fund earning assets | 0.15 | 0.40 | 0.21 | 0.38 | |||||||
Net interest margin (b) | 2.90 | % | 3.34 | % | 3.02 | % | 3.32 | % | |||
(a) | Second quarter 2020 yield driven by negative market rates on reverse repurchase agreements. |
(b) | Calculated using total net interest income adjusted for FTE assuming a statutory federal income tax rate of 21 percent and, where applicable, state income taxes. |
Three Months Ended June 30 | Percent Change | Six Months Ended June 30 | Percent Change | ||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||
Noninterest income: | |||||||||||||||||||||
Fixed income | $ | 100,272 | $ | 54,533 | 84 | % | $ | 178,626 | $ | 99,005 | 80 | % | |||||||||
Other product revenue | 12,149 | 11,881 | 2 | % | 29,430 | 21,158 | 39 | % | |||||||||||||
Total fixed income noninterest income | $ | 112,421 | $ | 66,414 | 69 | % | $ | 208,056 | $ | 120,163 | 73 | % | |||||||||
Three Months Ended June 30 | Percent Change | Six Months Ended June 30 | Percent Change | |||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||||||||
Other income: | ||||||||||||||||||||||
Deferred compensation (a) | $ | 8,171 | $ | 1,938 | NM | $ | (1,336 | ) | $ | 7,412 | NM | |||||||||||
Other service charges | 4,582 | 5,624 | (19 | )% | 9,801 | 9,493 | 3 | % | ||||||||||||||
Mortgage banking | 4,138 | 2,572 | 61 | % | 6,569 | 4,458 | 47 | % | ||||||||||||||
ATM and interchange fees | 4,009 | 4,262 | (6 | )% | 8,221 | 7,503 | 10 | % | ||||||||||||||
Letter of credit fees | 1,559 | 1,253 | 24 | % | 3,021 | 2,621 | 15 | % | ||||||||||||||
Electronic banking fees | 1,182 | 1,267 | (7 | )% | 2,212 | 2,538 | (13 | )% | ||||||||||||||
Dividend income (b) | 1,057 | 1,809 | (42 | )% | 2,187 | 4,122 | (47 | )% | ||||||||||||||
Insurance commissions | 401 | 566 | (29 | )% | 1,190 | 1,190 | * | |||||||||||||||
Gain/(loss) on extinguishment of debt | — | — | NM | — | (1 | ) | NM | |||||||||||||||
Other | 4,890 | 6,376 | (23 | )% | 12,488 | 10,962 | 14 | % | ||||||||||||||
Total | $ | 29,989 | $ | 25,667 | 17 | % | $ | 44,353 | $ | 50,298 | (12 | )% | ||||||||||
(a) | Amounts are driven by market conditions and are mirrored by changes in deferred compensation expense which is included in employee compensation expense; six months ended June 30, 2020 decrease driven by variability in equity market valuations. |
(b) | Represents dividend income from Federal Reserve Bank ("FRB") and Federal Home Loan Bank ("FHLB") holdings. Variability largely driven by dividend rate. |
Three Months Ended June 30 | Percent Change | Six Months Ended June 30 | Percent Change | ||||||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||
Other expense: | |||||||||||||||||||||
Credit expense on unfunded commitments (a) | $ | 11,158 | $ | (489 | ) | NM | $ | 20,388 | $ | (93 | ) | NM | |||||||||
Non-service components of net periodic pension and post-retirement cost | 2,961 | 559 | NM | 5,469 | 991 | NM | |||||||||||||||
Other insurance and taxes | 2,599 | 2,495 | 4 | % | 5,278 | 5,189 | 2 | % | |||||||||||||
Miscellaneous loan costs | 2,356 | 857 | NM | 3,450 | 1,884 | 83 | % | ||||||||||||||
Supplies | 1,933 | 1,342 | 44 | % | 4,344 | 3,146 | 38 | % | |||||||||||||
Employee training and dues | 654 | 1,251 | (48 | )% | 1,995 | 2,708 | (26 | )% | |||||||||||||
Customer relations | 632 | 1,540 | (59 | )% | 2,636 | 3,139 | (16 | )% | |||||||||||||
Travel and entertainment | 474 | 2,906 | (84 | )% | 3,183 | 5,618 | (43 | )% | |||||||||||||
OREO | 437 | 25 | NM | 253 | (341 | ) | NM | ||||||||||||||
Tax credit investments | 426 | 267 | 60 | % | 772 | 942 | (18 | )% | |||||||||||||
Litigation and regulatory matters (b) | 3 | (8,230 | ) | NM | 16 | (8,217 | ) | NM | |||||||||||||
Other | 12,118 | 26,158 | (54 | )% | 21,193 | 33,046 | (36 | )% | |||||||||||||
Total | $ | 35,751 | $ | 28,681 | 25 | % | $ | 68,977 | $ | 48,012 | 44 | % | |||||||||
(a) | Three and six months ended June 30, 2020 increases largely driven by the economic forecast attributable to the COVID-19 pandemic. |
(b) | Litigation and regulatory matters for the three and six months ended June 30, 2019 includes an $8.3 million expense reversal related to the settlement of litigation matters within the Non-Strategic segment. |
Statement of Condition Review | ||||
Quarter Ended June 30, 2020 | Quarter Ended December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Amount | Percent of total | Amount | Percent of total | Growth Rate | ||||||||||||
Commercial: | |||||||||||||||||
Commercial, financial, and industrial | $ | 22,694,432 | 67 | % | $ | 19,739,937 | 64 | % | 15 | % | |||||||
Commercial real estate | 4,709,676 | 14 | 4,263,597 | 14 | 10 | ||||||||||||
Total commercial | 27,404,108 | 81 | 24,003,534 | 78 | 14 | ||||||||||||
Consumer: | |||||||||||||||||
Consumer real estate (a) (b) | 6,087,485 | 18 | 6,194,134 | 20 | (2 | ) | |||||||||||
Credit card, OTC and other | 476,088 | 1 | 508,651 | 2 | (6 | ) | |||||||||||
Total consumer | 6,563,573 | 19 | 6,702,785 | 22 | (2 | ) | |||||||||||
Total loans, net of unearned income | $ | 33,967,681 | 100 | % | $ | 30,706,319 | 100 | % | 11 | % | |||||||
(a) | Balance as December 31, 2019 includes $7.1 million of restricted and secured real estate loans. |
(b) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
Quarter Ended June 30, 2020 | Quarter Ended December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Amount | Percent of total | Amount | Percent of total | Growth Rate | ||||||||||||
Other earning assets | |||||||||||||||||
Interest-bearing cash | $ | 1,619,686 | 47 | % | $ | 586,495 | 23 | % | NM | ||||||||
Trading securities | 1,419,868 | 41 | 1,263,633 | 50 | 12 | % | |||||||||||
Securities purchased under agreements to resell | 393,539 | 11 | 645,979 | 26 | (39 | ) | |||||||||||
Federal funds sold | 28,208 | 1 | 9,700 | 1 | NM | ||||||||||||
Total other earning assets | $ | 3,461,301 | 100 | % | $ | 2,505,807 | 100 | % | 38 | % | |||||||
Quarter Ended June 30, 2020 | Quarter Ended December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Amount | Percent of total | Amount | Percent of total | Growth Rate | ||||||||||||
Interest-bearing deposits: | |||||||||||||||||
Consumer | $ | 14,153,186 | 38 | % | $ | 13,718,820 | 42 | % | 3 | % | |||||||
Commercial | 6,002,315 | 16 | 6,145,681 | 19 | (2 | ) | |||||||||||
Market-indexed (a) | 6,055,468 | 16 | 4,370,025 | 13 | 39 | ||||||||||||
Total interest-bearing deposits | 26,210,969 | 70 | 24,234,526 | 74 | 8 | ||||||||||||
Noninterest-bearing deposits | 11,315,526 | 30 | 8,542,521 | 26 | 32 | ||||||||||||
Total deposits | $ | 37,526,495 | 100 | % | $ | 32,777,047 | 100 | % | 14 | % | |||||||
(a) | Market-indexed deposits are tied to an index not administered by FHN and are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits. |
Quarter Ended June 30, 2020 | Quarter Ended December 31, 2019 | ||||||||||||||||
(Dollars in thousands) | Amount | Percent of total | Amount | Percent of total | Growth Rate | ||||||||||||
Short-term borrowings: | |||||||||||||||||
Federal funds purchased | $ | 1,037,107 | 35 | % | $ | 1,163,701 | 35 | % | (11 | )% | |||||||
Securities sold under agreements to repurchase | 1,011,339 | 34 | 701,213 | 21 | 44 | ||||||||||||
Other short-term borrowings | 555,032 | 19 | 844,558 | 26 | (34 | ) | |||||||||||
Trading liabilities | 352,433 | 12 | 585,889 | 18 | (40 | ) | |||||||||||
Total short-term borrowings | $ | 2,955,911 | 100 | % | $ | 3,295,361 | 100 | % | (10 | )% | |||||||
Capital | ||||
(Dollars in thousands) | June 30, 2020 | December 31, 2019 | ||||||
Shareholders’ equity | $ | 4,912,954 | $ | 4,780,577 | ||||
Modified CECL transitional amount (a) | 158,948 | — | ||||||
FHN non-cumulative perpetual preferred | (240,289 | ) | (95,624 | ) | ||||
Common equity | $ | 4,831,613 | $ | 4,684,953 | ||||
Regulatory adjustments: | ||||||||
Disallowed goodwill and other intangibles | (1,496,625 | ) | (1,505,971 | ) | ||||
Net unrealized (gains)/losses on securities available-for-sale | (118,327 | ) | (31,079 | ) | ||||
Net unrealized (gains)/losses on pension and other postretirement plans | 269,430 | 273,914 | ||||||
Net unrealized (gains)/losses on cash flow hedges | (16,305 | ) | (3,227 | ) | ||||
Disallowed deferred tax assets | (11,491 | ) | (8,610 | ) | ||||
Other deductions from common equity tier 1 | (849 | ) | (1,044 | ) | ||||
Common equity tier 1 | $ | 3,457,446 | $ | 3,408,936 | ||||
FHN non-cumulative perpetual preferred | 240,289 | 95,624 | ||||||
Qualifying noncontrolling interest—First Horizon Bank preferred stock | 294,816 | 255,890 | ||||||
Tier 1 capital | $ | 3,992,551 | $ | 3,760,450 | ||||
Tier 2 capital | 667,100 | 394,435 | ||||||
Total regulatory capital | $ | 4,659,651 | $ | 4,154,885 | ||||
Risk-Weighted Assets | ||||||||
First Horizon National Corporation | $ | 37,360,843 | $ | 37,045,782 | ||||
First Horizon Bank | 37,037,629 | 36,626,993 | ||||||
Average Assets for Leverage | ||||||||
First Horizon National Corporation | 46,683,933 | 41,583,446 | ||||||
First Horizon Bank | 46,111,262 | 40,867,365 | ||||||
June 30, 2020 | December 31, 2019 | |||||||||||||
Ratio | Amount | Ratio | Amount | |||||||||||
Common Equity Tier 1 | ||||||||||||||
First Horizon National Corporation | 9.25 | % | $ | 3,457,446 | 9.20 | % | $ | 3,408,936 | ||||||
First Horizon Bank | 9.84 | 3,644,724 | 9.38 | 3,433,867 | ||||||||||
Tier 1 | ||||||||||||||
First Horizon National Corporation | 10.69 | 3,992,551 | 10.15 | 3,760,450 | ||||||||||
First Horizon Bank | 10.64 | 3,939,540 | 10.18 | 3,728,683 | ||||||||||
Total | ||||||||||||||
First Horizon National Corporation | 12.47 | 4,659,651 | 11.22 | 4,154,885 | ||||||||||
First Horizon Bank | 13.05 | 4,835,218 | 10.77 | 3,944,613 | ||||||||||
Tier 1 Leverage | ||||||||||||||
First Horizon National Corporation | 8.55 | 3,992,551 | 9.04 | 3,760,450 | ||||||||||
First Horizon Bank | 8.54 | 3,939,540 | 9.12 | 3,728,683 | ||||||||||
(a) | The modified CECL transitional amount is calculated as defined in the CECL interim final rule issued by the banking regulators on March 27, 2020 and includes the full amount of the impact to retained earnings from the initial adoption of CECL plus 25 percent of the change in the adjusted allowance for credit losses (“AACL”) since FHN’s initial adoption of CECL through June 30, 2020. |
(Dollar values and volume in thousands, except per share data) | Total number of shares purchased | Average price paid per share (a) | Total number of shares purchased as part of publicly announced programs | Maximum approximate dollar value that may yet be purchased under the programs | ||||||||
2020 | ||||||||||||
April 1 to April 30 | — | NA | — | $ | 270,654 | |||||||
May 1 to May 31 | — | NA | — | 270,654 | ||||||||
June 1 to June 30 | — | NA | — | 270,654 | ||||||||
Total | — | N/A | — | |||||||||
(Volume in thousands, except per share data) | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced programs | Maximum number of shares that may yet be purchased under the programs | ||||||||||
2020 | ||||||||||||||
April 1 to April 30 | 1 | $ | 7.18 | 1 | $ | 24,315 | ||||||||
May 1 to May 31 | 182 | 8.03 | 182 | 24,134 | ||||||||||
June 1 to June 30 | * | 12.09 | * | 24,133 | ||||||||||
Total | 183 | $ | 8.04 | 183 | ||||||||||
Asset Quality | ||||
June 30, 2020 | December 31, 2019 | |||||||||||||
(Dollars in thousands) | Amount | Percent | Amount | Percent | ||||||||||
Industry: | ||||||||||||||
Loans to mortgage companies | $ | 4,020,591 | 19 | % | $ | 4,410,883 | 22 | % | ||||||
Finance & insurance | 2,530,808 | 12 | 2,778,411 | 14 | ||||||||||
Health care & social assistance | 1,850,006 | 9 | 1,499,178 | 8 | ||||||||||
Accommodation & food service | 1,741,834 | 8 | 1,364,833 | 7 | ||||||||||
Real estate rental & leasing (a) | 1,547,227 | 7 | 1,454,336 | 7 | ||||||||||
Wholesale trade | 1,413,665 | 6 | 1,372,147 | 7 | ||||||||||
Manufacturing | 1,303,421 | 6 | 1,150,701 | 6 | ||||||||||
Other (education, arts, entertainment, etc) (b) | 6,986,341 | 33 | 6,020,602 | 29 | ||||||||||
Total C&I loan portfolio | $ | 21,393,893 | 100 | % | $ | 20,051,091 | 100 | % | ||||||
(a) | Leasing, rental of real estate, equipment, and goods. |
(b) | Industries in this category each comprise less than 5 percent for 2020. |
2020 | ||||||||||||
Three months ended | ||||||||||||
(Dollars in thousands) | Regional Bank | Non-Strategic | Consolidated | |||||||||
Allowance for loan losses as of April 1 | $ | 244,662 | $ | 9,854 | $ | 254,516 | ||||||
Charge-offs | (18,201 | ) | — | (18,201 | ) | |||||||
Recoveries | 1,070 | 3 | 1,073 | |||||||||
Provision/(provision credit) for loan losses | 80,930 | 404 | 81,334 | |||||||||
Allowance for loan losses as of June 30 | $ | 308,461 | $ | 10,261 | $ | 318,722 | ||||||
Net charge-offs % (qtr. annualized) | 0.31 | % | NM | 0.30 | % | |||||||
Allowance / net charge-offs | 4.48 | x | NM | 4.63 | x | |||||||
As of June 30 | ||||||||||||
Period-end loans | $ | 21,074,103 | $ | 319,790 | $ | 21,393,893 | ||||||
Nonperforming loans | 127,345 | — | 127,345 | |||||||||
Troubled debt restructurings | 42,292 | — | 42,292 | |||||||||
30+ Delinq. % (a) | 0.03 | % | — | % | 0.03 | % | ||||||
NPL % | 0.60 | — | 0.60 | |||||||||
Allowance / loans % | 1.46 | 3.21 | 1.49 | |||||||||
2019 | ||||||||||||
Three months ended | ||||||||||||
(Dollars in thousands) | Regional Bank | Non-Strategic | Consolidated | |||||||||
Allowance for loan losses as of April 1 | $ | 102,393 | $ | 1,320 | $ | 103,713 | ||||||
Charge-offs | (6,562 | ) | (28 | ) | (6,590 | ) | ||||||
Recoveries | 513 | 6 | 519 | |||||||||
Provision/(provision credit) for loan losses | 18,466 | (12 | ) | 18,454 | ||||||||
Allowance for loan losses as of June 30 | $ | 114,810 | $ | 1,286 | $ | 116,096 | ||||||
Net charge-offs % (qtr. annualized) | 0.14 | % | 0.03 | % | 0.14 | % | ||||||
Allowance / net charge-offs | 4.73 | x | 14.47 | x | 4.77 | x | ||||||
As of December 31 | ||||||||||||
Period-end loans | $ | 19,721,457 | $ | 329,634 | $ | 20,051,091 | ||||||
Nonperforming loans | 74,312 | — | 74,312 | |||||||||
Troubled debt restructurings | 42,199 | — | 42,199 | |||||||||
30+ Delinq. % (a) | 0.05 | % | — | % | 0.05 | % | ||||||
NPL % | 0.38 | — | 0.37 | |||||||||
Allowance / loans % | 0.62 | 0.02 | 0.61 | |||||||||
(a) | 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest. |
2020 | ||||||||||||
Three months ended | ||||||||||||
(Dollars in thousands) | Regional Bank | Non-Strategic | Consolidated | |||||||||
Allowance for loan losses as of April 1 | $ | 46,929 | $ | 696 | $ | 47,625 | ||||||
Charge-offs | (61 | ) | — | (61 | ) | |||||||
Recoveries | 156 | — | 156 | |||||||||
Provision/(provision credit) for loan losses | 9,699 | (134 | ) | 9,565 | ||||||||
Allowance for loan losses as of June 30 | $ | 56,723 | $ | 562 | $ | 57,285 | ||||||
Net charge-offs % (qtr. annualized) | NM | — | NM | |||||||||
Allowance / net charge-offs | NM | NM | NM | |||||||||
As of June 30 | ||||||||||||
Period-end loans | $ | 4,793,816 | $ | 19,525 | $ | 4,813,341 | ||||||
Nonperforming loans | 2,067 | — | 2,067 | |||||||||
Troubled debt restructurings | 1,120 | — | 1,120 | |||||||||
30+ Delinq. % (a) | — | % | — | % | — | % | ||||||
NPL % | 0.04 | — | 0.04 | |||||||||
Allowance / loans % | 1.18 | 2.88 | 1.19 | |||||||||
2019 | ||||||||||||
Three months ended | ||||||||||||
(Dollars in thousands) | Regional Bank | Non-Strategic | Consolidated | |||||||||
Allowance for loan losses as of April 1 | $ | 30,801 | $ | 3,581 | $ | 34,382 | ||||||
Charge-offs | (121 | ) | — | (121 | ) | |||||||
Recoveries | (88 | ) | — | (88 | ) | |||||||
Provision/(provision credit) for loan losses | (1,377 | ) | 157 | (1,220 | ) | |||||||
Allowance for loan losses as of June 30 | $ | 29,215 | $ | 3,738 | $ | 32,953 | ||||||
Net charge-offs % (qtr. annualized) | 0.02 | % | NM | 0.02 | % | |||||||
Allowance / net charge-offs | 34.79 | x | NM | 39.25 | x | |||||||
As of December 31 | ||||||||||||
Period-end loans | $ | 4,292,199 | $ | 44,818 | $ | 4,337,017 | ||||||
Nonperforming loans | 1,825 | — | 1,825 | |||||||||
Troubled debt restructurings | 1,200 | — | 1,200 | |||||||||
30+ Delinq. % (a) | 0.02 | % | — | % | 0.02 | % | ||||||
NPL % | 0.04 | — | 0.04 | |||||||||
Allowance / loans % | 0.79 | 5.32 | 0.83 | |||||||||
(a) | 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest. |
June 30, 2020 | December 31, 2019 | |||||||||||||
(Dollars in thousands) | Repayment Amount | Percent | Repayment Amount | Percent | ||||||||||
Months remaining in draw period: | ||||||||||||||
0-12 | $ | 46,112 | 5 | % | $ | 47,455 | 5 | % | ||||||
13-24 | 58,195 | 6 | 58,843 | 6 | ||||||||||
25-36 | 58,924 | 6 | 65,833 | 7 | ||||||||||
37-48 | 56,256 | 6 | 67,692 | 7 | ||||||||||
49-60 | 76,207 | 8 | 75,246 | 7 | ||||||||||
>60 | 642,628 | 69 | 666,001 | 68 | ||||||||||
Total | $ | 938,322 | 100 | % | $ | 981,070 | 100 | % | ||||||
2020 | ||||||||||||||||
Three months ended | ||||||||||||||||
(Dollars in thousands) | Regional Bank | Corporate | Non-Strategic | Consolidated | ||||||||||||
Allowance for loan losses as of April 1 | $ | 102,958 | N/A | $ | 20,064 | $ | 123,022 | |||||||||
Charge-offs | (763 | ) | N/A | (1,205 | ) | (1,968 | ) | |||||||||
Recoveries | 1,410 | N/A | 2,577 | 3,987 | ||||||||||||
Provision/(provision credit) for loan losses | 17,280 | N/A | 1,436 | 18,716 | ||||||||||||
Allowance for loan losses as of June 30 | $ | 120,885 | N/A | $ | 22,872 | $ | 143,757 | |||||||||
Net charge-offs % (qtr. annualized) | NM | N/A | NM | NM | ||||||||||||
Allowance / net charge-offs | NM | N/A | NM | NM | ||||||||||||
As of June 30 | ||||||||||||||||
Period-end loans | $ | 5,692,309 | $ | 27,887 | $ | 332,197 | $ | 6,052,393 | ||||||||
Nonperforming loans | 45,678 | 1,209 | 49,437 | 96,324 | ||||||||||||
Troubled debt restructurings | 49,630 | 2,908 | 96,005 | 148,543 | ||||||||||||
30+ Delinq. % (a) | 0.42 | % | 4.90 | % | 2.11 | % | 0.53 | % | ||||||||
NPL % | 0.80 | 4.34 | 14.88 | 1.59 | ||||||||||||
Allowance / loans % | 2.12 | N/A | 6.89 | 2.38 | ||||||||||||
2019 | ||||||||||||||||
Three months ended (a) | ||||||||||||||||
(Dollars in thousands) | Regional Bank | Corporate | Non-Strategic | Consolidated | ||||||||||||
Allowance for loan losses as of April 1 | $ | 15,203 | N/A | $ | 18,951 | $ | 34,154 | |||||||||
Charge-offs | (826 | ) | N/A | (888 | ) | (1,714 | ) | |||||||||
Recoveries | 1,240 | N/A | 4,285 | 5,525 | ||||||||||||
Provision/(provision credit) for loan losses | (912 | ) | N/A | (5,521 | ) | (6,433 | ) | |||||||||
Allowance for loan losses as of June 30 | $ | 14,705 | N/A | $ | 16,827 | $ | 31,532 | |||||||||
Net charge-offs % (qtr. annualized) | NM | N/A | NM | NM | ||||||||||||
Allowance / net charge-offs | NM | N/A | NM | NM | ||||||||||||
As of December 31 (a) | ||||||||||||||||
Period-end loans | $ | 5,738,455 | $ | 31,473 | $ | 407,211 | $ | 6,177,139 | ||||||||
Nonperforming loans | 37,014 | 1,327 | 47,353 | 85,694 | ||||||||||||
Troubled debt restructurings | 46,031 | 2,457 | 113,758 | 162,246 | ||||||||||||
30+ Delinq. % (b) | 0.50 | % | 5.29 | % | 3.10 | % | 0.70 | % | ||||||||
NPL % | 0.65 | 4.22 | 11.63 | 1.39 | ||||||||||||
Allowance / loans % | 0.23 | N/A | 3.71 | 0.46 | ||||||||||||
(a) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
(b) | 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest. |
2020 | ||||||||||||
Three months ended | ||||||||||||
(Dollars in thousands) | Regional Bank | Non-Strategic | Consolidated | |||||||||
Allowance for loan losses as of April 1 | $ | 19,003 | $ | 324 | $ | 19,327 | ||||||
Charge-offs | (2,471 | ) | (206 | ) | (2,677 | ) | ||||||
Recoveries | 871 | 211 | 1,082 | |||||||||
Provision/(provision credit) for loan losses | 404 | (19 | ) | 385 | ||||||||
Allowance for loan losses as of June 30 | $ | 17,807 | $ | 310 | $ | 18,117 | ||||||
Net charge-offs % (qtr. annualized) | 1.42 | % | NM | 1.35 | % | |||||||
Allowance / net charge-offs | 2.77 | x | NM | 2.82 | x | |||||||
As of June 30 | ||||||||||||
Period-end loans | $ | 429,610 | $ | 19,700 | $ | 449,310 | ||||||
Nonperforming loans | 98 | 157 | 255 | |||||||||
Troubled debt restructurings | 661 | 27 | 688 | |||||||||
30+ Delinq. % (a) | 0.74 | % | 1.42 | % | 0.77 | % | ||||||
NPL % | 0.02 | 0.79 | 0.06 | |||||||||
Allowance / loans % | 4.14 | 1.57 | 4.03 | |||||||||
2019 | ||||||||||||
Three months ended | ||||||||||||
(Dollars in thousands) | Regional Bank | Non-Strategic | Consolidated | |||||||||
Allowance for loan losses as of April 1 | $ | 12,517 | $ | 145 | $ | 12,662 | ||||||
Charge-offs | (2,884 | ) | (914 | ) | (3,798 | ) | ||||||
Recoveries | 887 | 218 | 1,105 | |||||||||
Provision/(provision credit) for loan losses | 1,599 | 600 | 2,199 | |||||||||
Allowance for loan losses as of June 30 | $ | 12,119 | $ | 49 | $ | 12,168 | ||||||
Net charge-offs % (qtr. annualized) | 1.84 | % | 4.41 | % | 2.17 | % | ||||||
Allowance / net charge-offs | 1.51 | x | 0.02 | x | 1.13 | x | ||||||
As of December 31 | ||||||||||||
Period-end loans | $ | 460,742 | $ | 35,122 | $ | 495,864 | ||||||
Nonperforming loans | 36 | 298 | 334 | |||||||||
Troubled debt restructurings | 615 | 38 | 653 | |||||||||
30+ Delinq. % (a) | 0.69 | % | 4.05 | % | 0.93 | % | ||||||
NPL % | 0.01 | 0.85 | 0.07 | |||||||||
Allowance / loans % | 2.87 | 0.09 | 2.68 | |||||||||
(a) | 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest. |
June 30 | December 31 | |||||||
2020 | 2019 | |||||||
Key Portfolio Details | ||||||||
C&I | ||||||||
Period-end loans ($ millions) | $ | 21,394 | $ | 20,051 | ||||
30+ Delinq. % (a) | 0.03 | % | 0.05 | % | ||||
NPL % | 0.60 | 0.37 | ||||||
Charge-offs % (qtr. annualized) | 0.30 | 0.07 | ||||||
Allowance / loans % | 1.49 | % | 0.61 | % | ||||
Allowance / net charge-offs | 4.63 | x | 9.25 | x | ||||
Commercial Real Estate | ||||||||
Period-end loans ($ millions) | $ | 4,813 | $ | 4,337 | ||||
30+ Delinq. % (a) | — | % | 0.02 | % | ||||
NPL % | 0.04 | 0.04 | ||||||
Charge-offs % (qtr. annualized) | NM | NM | ||||||
Allowance / loans % | 1.19 | % | 0.83 | % | ||||
Allowance / net charge-offs | NM | NM | ||||||
Consumer Real Estate (b) | ||||||||
Period-end loans ($ millions) | $ | 6,053 | $ | 6,177 | ||||
30+ Delinq. % (a) | 0.53 | % | 0.70 | % | ||||
NPL % | 1.59 | 1.39 | ||||||
Charge-offs % (qtr. annualized) | NM | NM | ||||||
Allowance / loans % | 2.38 | % | 0.46 | % | ||||
Allowance / net charge-offs | NM | NM | ||||||
Credit Card and Other | ||||||||
Period-end loans ($ millions) | $ | 449 | $ | 496 | ||||
30+ Delinq. % (a) | 0.77 | % | 0.93 | % | ||||
NPL % | 0.06 | 0.07 | ||||||
Charge-offs % (qtr. annualized) | 1.35 | 2.29 | ||||||
Allowance / loans % | 4.03 | % | 2.68 | % | ||||
Allowance / net charge-offs | 2.82 | x | 1.14 | x | ||||
(a) | 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest. |
(b) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Beginning balance | $ | 13,881 | $ | 20,676 | $ | 15,660 | $ | 22,387 | ||||||||
Valuation adjustments | (142 | ) | (9 | ) | (169 | ) | 26 | |||||||||
New foreclosed property | 757 | 1,394 | 1,685 | 3,001 | ||||||||||||
Disposal | (1,319 | ) | (5,468 | ) | (3,999 | ) | (8,821 | ) | ||||||||
Ending balance, March 31 (a) | $ | 13,177 | $ | 16,593 | $ | 13,177 | $ | 16,593 | ||||||||
(a) | Excludes OREO and receivables related to government insured mortgages of $6.4 million and $3.4 million as of June 30, 2020 and 2019, respectively. |
Three Months Ended June 30 | ||||||||
(Dollars in thousands) | 2020 | 2019 | ||||||
Allowance for loan losses: | ||||||||
Beginning balance on April 1 | $ | 444,490 | $ | 184,911 | ||||
Provision/(provision credit) for loan losses | 110,000 | 13,000 | ||||||
Charge-offs | (22,907 | ) | (12,223 | ) | ||||
Recoveries | 6,298 | 7,061 | ||||||
Ending balance on June 30 | $ | 537,881 | $ | 192,749 | ||||
Reserve for remaining unfunded commitments | 50,461 | 7,524 | ||||||
Total allowance for loan losses and reserve for unfunded commitments | $ | 588,342 | $ | 200,273 | ||||
Key ratios | ||||||||
Allowance / net charge-offs (a) | 8.05 | x | 9.31 | x | ||||
Net charge-offs % (b) | 0.20 | % | 0.07 | % | ||||
As of June 30 | As of December 31 | |||||||
Nonperforming Assets by Segment | 2020 | 2019 | ||||||
Regional Banking: | ||||||||
Nonperforming loans (c) | $ | 175,188 | $ | 113,187 | ||||
OREO (e) | 9,210 | 12,347 | ||||||
Total Regional Banking | 184,398 | 125,534 | ||||||
Non-Strategic: | ||||||||
Nonperforming loans (c) | 49,594 | 47,651 | ||||||
Nonperforming loans held-for-sale net of fair value adjustment (c) | 6,219 | 4,047 | ||||||
OREO (e) | 3,967 | 3,313 | ||||||
Total Non-Strategic | 59,780 | 55,011 | ||||||
Corporate: | ||||||||
Nonperforming loans (c) | 1,209 | 1,327 | ||||||
Total Corporate | 1,209 | 1,327 | ||||||
Total nonperforming assets (c) (d) | $ | 245,387 | $ | 181,872 | ||||
(a) | Ratio is total allowance divided by annualized net charge-offs. |
(b) | Ratio is annualized net charge-offs divided by quarterly average loans, net of unearned income. |
(c) | Excludes loans that are 90 or more days past due and still accruing interest. |
(d) | Excludes OREO from government-insured mortgages. |
As of June 30 | As of December 31 | |||||||
2020 | 2019 | |||||||
Loans and commitments: | ||||||||
Total period-end loans, net of unearned income | $ | 32,708,937 | $ | 31,061,111 | ||||
Potential problem assets (a) | 401,049 | 346,896 | ||||||
Loans 30 to 89 days past due | 27,156 | 36,052 | ||||||
Loans 90 days past due (b) (c) | 14,498 | 21,859 | ||||||
Loans held-for-sale 30 to 89 days past due (c) | 4,979 | 3,732 | ||||||
Loans held-for-sale 30 to 89 days past due—guaranteed portion (c) (d) | 4,755 | 3,424 | ||||||
Loans held-for-sale 90 days past due (c) | 6,336 | 6,484 | ||||||
Loans held-for-sale 90 days past due—guaranteed portion (c) (d) | 6,233 | 6,417 | ||||||
Remaining unfunded commitments | $ | 12,945,839 | $ | 12,355,220 | ||||
Key ratios | ||||||||
Allowance / loans % | 1.64 | % | 0.64 | % | ||||
Allowance / NPL | 2.38 | x | 1.24 | x | ||||
NPA % (e) | 0.73 | % | 0.57 | % | ||||
NPL % | 0.69 | % | 0.52 | % | ||||
(a) | Includes past due loans. |
(b) | Excludes loans classified as held-for-sale. |
(c) | Amounts are not included in nonperforming/nonaccrual loans. |
(d) | Guaranteed loans include FHA, VA, SBA, USDA, and GNMA loans repurchased through the GNMA buyout program. |
(e) | Ratio is non-performing assets related to the loan portfolio to total loans plus OREO and other assets. |
(Dollars in thousands) | As of June 30, 2020 | As of December 31, 2019 | ||||||
Held-to-maturity: | ||||||||
Consumer real estate (a): | ||||||||
Current | 92,229 | 105,525 | ||||||
Delinquent | 2,624 | 4,634 | ||||||
Non-accrual (b) | 53,690 | 52,087 | ||||||
Total consumer real estate | 148,543 | 162,246 | ||||||
Credit card and other: | ||||||||
Current | 663 | 615 | ||||||
Delinquent | 25 | 38 | ||||||
Non-accrual | — | — | ||||||
Total credit card and other | 688 | 653 | ||||||
Commercial loans: | ||||||||
Current | 18,751 | 10,558 | ||||||
Delinquent | — | — | ||||||
Non-accrual | 24,661 | 32,841 | ||||||
Total commercial loans | 43,412 | 43,399 | ||||||
Total held-to-maturity | $ | 192,643 | $ | 206,298 | ||||
Held-for-sale: | ||||||||
Current | $ | 36,371 | $ | 39,014 | ||||
Delinquent | 6,758 | 8,008 | ||||||
Non-accrual | 1,923 | 4,106 | ||||||
Total held-for-sale | 45,052 | 51,128 | ||||||
Total troubled debt restructurings | $ | 237,695 | $ | 257,426 | ||||
(a) | In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. |
(b) | Balances as of June 30, 2020 and December 31, 2019, include $11.6 million and $12.6 million, respectively, of discharged bankruptcies. |
Risk Management | ||||
Three Months Ended June 30, 2020 | Six Months Ended June 30, 2020 | As of June 30, 2020 | ||||||||||||||||||||||||||
(Dollars in thousands) | Mean | High | Low | Mean | High | Low | ||||||||||||||||||||||
1-day | ||||||||||||||||||||||||||||
VaR | $ | 3,038 | $ | 5,058 | $ | 1,717 | $ | 2,668 | $ | 6,783 | $ | 1,023 | $ | 2,927 | ||||||||||||||
SVaR | 3,933 | 6,194 | 2,726 | 6,212 | 17,727 | 2,726 | 3,246 | |||||||||||||||||||||
10-day | ||||||||||||||||||||||||||||
VaR | 13,261 | 19,214 | 7,603 | 10,126 | 24,880 | 1,807 | 12,929 | |||||||||||||||||||||
SVaR | 13,680 | 19,214 | 9,316 | 20,043 | 43,221 | 9,316 | 12,929 | |||||||||||||||||||||
Three Months Ended June 30, 2019 | Six Months Ended June 30, 2019 | As of June 30, 2019 | ||||||||||||||||||||||||||
(Dollars in thousands) | Mean | High | Low | Mean | High | Low | ||||||||||||||||||||||
1-day | ||||||||||||||||||||||||||||
VaR | $ | 1,015 | $ | 1,246 | $ | 748 | $ | 1,221 | $ | 1,907 | $ | 748 | $ | 901 | ||||||||||||||
SVaR | 6,266 | 9,595 | 4,700 | 7,239 | 9,629 | 4,700 | 5,356 | |||||||||||||||||||||
10-day | ||||||||||||||||||||||||||||
VaR | 2,643 | 4,518 | 2,025 | 3,010 | 4,518 | 2,025 | 3,164 | |||||||||||||||||||||
SVaR | 16,859 | 22,333 | 13,588 | 19,268 | 28,086 | 13,588 | 13,932 | |||||||||||||||||||||
Year Ended December 31, 2019 | As of December 31, 2019 | |||||||||||||||||||||||||||
(Dollars in thousands) | Mean | High | Low | |||||||||||||||||||||||||
1-day | ||||||||||||||||||||||||||||
VaR | $ | 1,068 | $ | 1,907 | $ | 503 | $ | 1,325 | ||||||||||||||||||||
SVaR | 6,198 | 9,629 | 3,157 | 4,579 | ||||||||||||||||||||||||
10-day | ||||||||||||||||||||||||||||
VaR | 2,824 | 7,000 | 1,499 | 2,233 | ||||||||||||||||||||||||
SVaR | 17,367 | 28,086 | 8,803 | 14,975 | ||||||||||||||||||||||||
As of June 30, 2020 | As of June 30, 2019 | As of December 31, 2019 | ||||||||||||||||||||||
(Dollars in thousands) | 1-day | 10-day | 1-day | 10-day | 1-day | 10-day | ||||||||||||||||||
Interest rate risk | $ | 1,166 | $ | 3,858 | $ | 722 | $ | 2,495 | $ | 693 | $ | 3,929 | ||||||||||||
Credit spread risk | 1,770 | 7,725 | 204 | 450 | 417 | 828 | ||||||||||||||||||
Dividend/share | Record Date | Payment Date | ||||||
Common Stock | $ | 0.15 | 09/11/2020 | 10/01/2020 | ||||
Preferred Stock | ||||||||
Series A | $ | 1,550.00 | 09/28/2020 | 10/13/2020 | ||||
Series C | $ | 165.00 | 10/16/2020 | 11/02/2020 | ||||
Series D | $ | 305.00 | 10/16/2020 | 11/02/2020 | ||||
Series E | $ | 2,383.33 | 09/28/2020 | 10/13/2020 | ||||
Repurchase Obligations, Off-Balance Sheet Arrangements, and Other Contractual Obligations | ||||
Market Uncertainties and Prospective Trends | ||||
(Dollars in thousands) | As of June 30, 2020 | |||
Commercial: | ||||
General C&I | $ | 1,828,501 | ||
Loans to mortgage companies | — | |||
TRUPS | — | |||
Income CRE | 1,328,907 | |||
Residential CRE | 1,977 | |||
Total Commercial | $ | 3,159,385 | ||
Consumer: | ||||
HELOC | $ | 71,529 | ||
R/E installment loans | 497,058 | |||
Credit Card & Other | 5,808 | |||
Total Consumer | 574,395 | |||
Total | $ | 3,733,780 | ||
Critical Accounting Policies | ||||
Non-GAAP Information | ||||
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||||||
(Dollars in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Pre-provision Net Revenue ("PPNR") | ||||||||||||||||
Net interest income (GAAP) | $ | 305,344 | $ | 303,610 | $ | 608,146 | $ | 598,118 | ||||||||
Plus: Noninterest income (GAAP) | 206,269 | 157,993 | 381,025 | 299,038 | ||||||||||||
Total revenues (GAAP) | 511,613 | 461,603 | 989,171 | 897,156 | ||||||||||||
Less: Noninterest expense (GAAP) | 332,168 | 300,394 | 643,487 | 596,484 | ||||||||||||
PPNR (Non-GAAP) | 179,445 | 161,209 | 345,684 | 300,672 | ||||||||||||
Provision/(provision credit) for loan losses (GAAP) | 110,000 | 13,000 | 255,000 | 22,000 | ||||||||||||
Income before income taxes (pre-tax income ("PTI")) (GAAP) | $ | 69,445 | $ | 148,209 | $ | 90,684 | $ | 278,672 | ||||||||
Average Tangible Common Equity (Non-GAAP) | ||||||||||||||||
Average total equity (GAAP) | $ | 5,117,613 | $ | 4,869,161 | $ | 5,060,003 | $ | 4,839,363 | ||||||||
Less: Average noncontrolling interest (a) | 295,431 | 295,431 | 295,431 | 295,431 | ||||||||||||
Less: Average preferred stock (a) | 149,675 | 95,624 | 122,650 | 95,624 | ||||||||||||
(A) Total average common equity | $ | 4,672,507 | $ | 4,478,106 | $ | 4,641,922 | $ | 4,448,308 | ||||||||
Less: Average intangible assets (GAAP) (b) | 1,555,049 | 1,578,505 | 1,557,695 | 1,581,582 | ||||||||||||
(B) Average Tangible Common Equity (Non-GAAP) | $ | 3,117,458 | $ | 2,899,601 | $ | 3,084,227 | $ | 2,866,726 | ||||||||
Net Income Available to Common Shareholders | ||||||||||||||||
(C) Net income available to common shareholders (annualized) (GAAP) | $ | 210,205 | $ | 438,562 | $ | 129,375 | $ | 420,204 | ||||||||
Tangible Common Equity (Non-GAAP) | ||||||||||||||||
(D) Total equity (GAAP) | $ | 5,208,385 | $ | 4,926,081 | $ | 5,208,385 | $ | 4,926,081 | ||||||||
Less: Noncontrolling interest (a) | 295,431 | 295,431 | 295,431 | 295,431 | ||||||||||||
Less: Preferred stock (a) | 240,289 | 95,624 | 240,289 | 95,624 | ||||||||||||
(E) Total common equity | $ | 4,672,665 | $ | 4,535,026 | $ | 4,672,665 | $ | 4,535,026 | ||||||||
Less: Intangible assets (GAAP) (b) | 1,552,395 | 1,575,399 | 1,552,395 | 1,575,399 | ||||||||||||
(F) Tangible common equity (Non-GAAP) | $ | 3,120,270 | $ | 2,959,627 | $ | 3,120,270 | $ | 2,959,627 | ||||||||
Tangible Assets (Non-GAAP) | ||||||||||||||||
(G) Total assets (GAAP) | $ | 48,644,659 | $ | 42,171,770 | $ | 48,644,659 | $ | 42,171,770 | ||||||||
Less: Intangible assets (GAAP) (b) | 1,552,395 | 1,575,399 | 1,552,395 | 1,575,399 | ||||||||||||
(H) Tangible assets (Non-GAAP) | $ | 47,092,264 | $ | 40,596,371 | $ | 47,092,264 | $ | 40,596,371 | ||||||||
Period-end Shares Outstanding | ||||||||||||||||
(I) Period-end shares outstanding | 312,359 | 312,478 | 312,359 | 312,478 | ||||||||||||
Ratios | ||||||||||||||||
(C)/(A) Return on average common equity (“ROCE”) (GAAP) (c) | 4.50 | % | 9.79 | % | 2.79 | % | 9.45 | % | ||||||||
(C)/(B) Return on average tangible common equity (“ROTCE”) (Non-GAAP) (d) | 6.74 | 15.12 | 4.19 | 14.66 | ||||||||||||
(D)/(G) Total equity to total assets (GAAP) | 10.71 | 11.68 | 10.71 | 11.68 | ||||||||||||
(F)/(H) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP) | 6.63 | 7.29 | 6.63 | 7.29 | ||||||||||||
(E)/(I) Book value per common share (GAAP) | $ | 14.96 | $ | 14.51 | $ | 14.96 | $ | 14.51 | ||||||||
(F)/(I) Tangible book value per common share (Non-GAAP) | $ | 9.99 | $ | 9.47 | $ | 9.99 | $ | 9.47 | ||||||||
(a) | Management’s Discussion and Analysis of Financial Condition and Results of Operations included as Item 2 of Part I of this report, including in particular the section entitled “Risk Management” beginning on page 115 of this report and the subsections entitled “Market Risk Management” beginning on page 115 and “Interest Rate Risk Management” beginning on page 117 of this report, and | |||
(b) | ||||
(a) | Evaluation of Disclosure Controls and Procedures. FHN’s management, with the participation of FHN’s chief executive officer and chief financial officer, has evaluated the effectiveness of FHN’s disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) as of the end of the period covered by this quarterly report. Based on that evaluation, the chief executive officer and the chief financial officer have concluded that FHN’s disclosure controls and procedures were effective as of the end of the period covered by this report. |
(b) | Changes in Internal Control over Financial Reporting. There have not been any changes in FHN’s internal control over financial reporting during FHN’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, FHN’s internal control over financial reporting. |
(a) & (b) | Not Applicable | |
(c) | The "Common Stock Purchase Programs” section including tables 10(a) and 10(b) and explanatory discussions included in Item 2 of Part I of this report under the heading “First Horizon National Corporation Management’s Discussion and Analysis of Financial Condition and Results of Operations,” beginning on page 102 of this report, is incorporated herein by reference. | |
Exh No | Description of Exhibit to this Report | Filed Here | Mngt Exh | Furn-ished | Incorporated by Reference to | ||
Form | Exh No | Filing Date | |||||
3.1 | Articles of Amendment of the Restated Charter of First Horizon National Corporation, related to Series E Preferred Stock | 8-K | 3.1 | 5/28/2020 | |||
3.2 | Articles of Amendment of First Horizon National Corporation [corporate charter] - Authorized Common Stock [increase to 700 million shares] | 8-K | 3.1 | 7/2/2020 | |||
3.3 | Articles of Amendment of First Horizon National Corporation [corporate charter] - Preferred Stock [Series B, C, & D] | 8-K | 3.2 | 7/2/2020 | |||
3.4 | Bylaws of First Horizon National Corporation, as amended and restated effective July 1, 2020 | 8-K | 3.3 | 7/2/2020 | |||
4.1 | Deposit Agreement, dated as of May 28, 2020, by and among First Horizon National Corporation, Equiniti Trust Company, as depositary, and the holders from time to time of the depositary receipts described therein [Series E] | 8-K | 4.1 | 5/28/2020 | |||
4.2 | Form of certificate representing Series E Preferred Stock | 8-K | 4.2 | 5/28/2020 | |||
4.3 | Form of Depositary Receipt representing the Series E Depositary Shares (included in Exhibit 4.1 to this report) | 8-K | 4.3 | 5/28/2020 | |||
4.4 | Deposit Agreement, dated as of July 1, 2020, by and among First Horizon National Corporation, Equiniti Trust Company, as depositary, and the holders from time to time of the depositary receipts described therein [Series B] | 8-K | 4.1 | 7/2/2020 | |||
4.5 | Deposit Agreement, dated as of July 1, 2020, by and among First Horizon National Corporation, Equiniti Trust Company, as depositary, and the holders from time to time of the depositary receipts described therein [Series C] | 8-K | 4.2 | 7/2/2020 | |||
4.6 | Deposit Agreement, dated as of July 1, 2020, by and among First Horizon National Corporation, Equiniti Trust Company, as depositary, and the holders from time to time of the depositary receipts described therein [Series D] | 8-K | 4.3 | 7/2/2020 | |||
4.7 | Form of Depositary Receipt-Series B (included as part of Exhibit 4.4 to this report) | 8-K | 4.4 | 7/2/2020 | |||
4.8 | Form of Depositary Receipt-Series C (included as part of Exhibit 4.5 to this report) | 8-K | 4.5 | 7/2/2020 | |||
4.9 | Form of Depositary Receipt-Series D (included as part of Exhibit 4.6 to this report) | 8-K | 4.6 | 7/2/2020 | |||
4.10 | FHN agrees to furnish to the Securities and Exchange Commission upon request a copy of each instrument defining the rights of the holders of the senior and subordinated long-term debt of FHN and its consolidated subsidiaries. | ||||||
10.1 | Retention Agreement of Anthony J. Restel, dated November 3, 2019 | 8-K | 10.1 | 7/2/2020 | |||
31(a) | X | ||||||
31(b) | X | ||||||
32(a) | X | X | |||||
Exh No | Description of Exhibit to this Report | Filed Here | Mngt Exh | Furn-ished | Incorporated by Reference to | ||
Form | Exh No | Filing Date | |||||
32(b) | X | X | |||||
XBRL Exhibits | |||||||
101 | The following financial information from First Horizon National Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, formatted in Inline XBRL: (i) Consolidated Condensed Statements of Condition at June 30, 2020 and December 31, 2019; (ii) Consolidated Condensed Statements of Income for the Three and Six Months Ended June 30, 2020 and 2019; (iii) Consolidated Condensed Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2020 and 2019; (iv) Consolidated Condensed Statements of Equity for the Three and Six Months Ended June 30, 2020 and 2019; (v) Consolidated Condensed Statements of Cash Flows for the Three and Six Months Ended June 30, 2020 and 2019; (vi) Notes to Consolidated Condensed Financial Statements. | ||||||
101. INS | XBRL Instance Document- the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||||
101. SCH | Inline XBRL Taxonomy Extension Schema | X | |||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase | X | |||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase | X | |||||
101. PRE | Inline XBRL Taxonomy Extension Presentation Linkbase | X | |||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase | X | |||||
104 | Cover Page Interactive Data File, formatted in Inline XBRL (included in Exhibit 101) | X | |||||
FIRST HORIZON NATIONAL CORPORATION (Registrant) | ||||
Date: August 5, 2020 | By: | /s/ William C. Losch III | ||
Name: | William C. Losch III | |||
Title: | Senior Executive Vice President and Chief Financial Officer | |||
(Duly Authorized Officer and Principal Financial Officer) | ||||
1. | I have reviewed this quarterly report on Form 10-Q of First Horizon National Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: August 5, 2020 |
/s/ D. Bryan Jordan |
D. Bryan Jordan |
President and Chief Executive Officer |
1. | I have reviewed this quarterly report on Form 10-Q of First Horizon National Corporation; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: August 5, 2020 |
/s/ William C. Losch III |
William C. Losch III |
Senior Executive Vice President and Chief Financial Officer |
1. | The Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934. |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Corporation. |
Date: August 5, 2020 |
/s/ D. Bryan Jordan |
D. Bryan Jordan |
President and Chief Executive Officer |
1. | The Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934. |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Corporation. |
Date: August 5, 2020 |
/s/ William C. Losch III |
William C. Losch III |
Senior Executive Vice President and Chief Financial Officer |
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
||
|---|---|---|---|---|
| Premises and equipment, net, held-for-sale) | $ 7,000 | $ 9,700 | ||
| Preferred stock liquidation preference value (in dollars per share) | $ 100,000 | $ 100,000 | ||
| Common stock, par value (in dollars per share) | $ 0.625 | $ 0.625 | ||
| Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 | ||
| Common stock, shares issued (in shares) | 312,358,668 | 311,469,056 | ||
| OREO | [1] | $ 15,134 | $ 17,838 | |
| Residential Real Estate | ||||
| Consumer mortgage loans secured by residential real estate in process of foreclosure | 16,900 | 18,800 | ||
| OREO | 7,800 | 9,200 | ||
| Residential Real Estate | Loans Held For Sale, Residential Real Estate | ||||
| Consumer mortgage loans secured by residential real estate in process of foreclosure | $ 2,500 | $ 6,800 | ||
| Series A Preferred Stock | ||||
| Preferred stock, Series A shares authorized (in shares) | 1,000 | 1,000 | ||
| Preferred stock, Series A shares issued (in shares) | 1,000 | 1,000 | ||
| Series E Preferred Stock | ||||
| Preferred stock, Series A shares authorized (in shares) | 1,725 | |||
| Preferred stock, Series A shares issued (in shares) | 1,500 | |||
| ||||
CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Interest income: | ||||
| Interest and fees on loans | $ 305,913 | $ 352,112 | $ 632,512 | $ 684,050 |
| Interest on investment securities available-for-sale | 24,977 | 31,247 | 52,733 | 63,090 |
| Interest on investment securities held-to-maturity | 132 | 132 | 263 | 263 |
| Interest on loans held-for-sale | 6,596 | 8,128 | 13,495 | 18,005 |
| Interest on trading securities | 8,723 | 13,154 | 21,840 | 26,702 |
| Interest on other earning assets | 283 | 7,316 | 4,149 | 20,594 |
| Total interest income | 346,624 | 412,089 | 724,992 | 812,704 |
| Interest on deposits: | ||||
| Savings | 12,520 | 36,806 | 38,853 | 76,720 |
| Time deposits | 9,259 | 22,439 | 23,202 | 42,693 |
| Other interest-bearing deposits | 2,966 | 19,757 | 17,179 | 41,799 |
| Interest on trading liabilities | 974 | 3,756 | 4,266 | 6,572 |
| Interest on short-term borrowings | 1,455 | 11,038 | 11,319 | 17,782 |
| Interest on term borrowings | 14,106 | 14,683 | 22,027 | 29,020 |
| Total interest expense | 41,280 | 108,479 | 116,846 | 214,586 |
| Net interest income | 305,344 | 303,610 | 608,146 | 598,118 |
| Provision/(provision credit) for loan losses | 110,000 | 13,000 | 255,000 | 22,000 |
| Net interest income after provision/(provision credit) for loan losses | 195,344 | 290,610 | 353,146 | 576,118 |
| Noninterest income: | ||||
| Fixed income | 112,421 | 66,414 | 208,056 | 120,163 |
| Deposit transactions and cash management | 30,787 | 32,374 | 61,077 | 63,995 |
| Brokerage, management fees and commissions | 13,800 | 14,120 | 29,205 | 26,753 |
| Trust services and investment management | 7,733 | 7,888 | 14,928 | 14,914 |
| Bankcard income | 6,652 | 6,355 | 13,905 | 13,307 |
| Bank-owned life insurance (BOLI) | 6,380 | 5,126 | 10,969 | 9,528 |
| Debt securities gains/(losses), net (Note 3 and Note 8) | 0 | (267) | 0 | (267) |
| Equity securities gains/(losses), net (Note 3) | (1,493) | 316 | (1,468) | 347 |
| All other income and commissions (Note 7) | 29,989 | 25,667 | 44,353 | 50,298 |
| Total noninterest income | 206,269 | 157,993 | 381,025 | 299,038 |
| Adjusted gross income after provision/(provision credit) for loan losses | 401,613 | 448,603 | 734,171 | 875,156 |
| Noninterest expense: | ||||
| Employee compensation, incentives, and benefits | 200,259 | 171,643 | 383,729 | 349,568 |
| Occupancy | 21,445 | 20,719 | 41,008 | 41,412 |
| Computer software | 16,522 | 15,001 | 32,549 | 30,140 |
| Operations services | 11,654 | 11,713 | 23,346 | 23,201 |
| Professional fees | 10,310 | 11,291 | 17,306 | 23,590 |
| Equipment rentals, depreciation, and maintenance | 8,384 | 8,375 | 16,936 | 17,204 |
| FDIC premium expense | 6,432 | 4,247 | 13,174 | 8,520 |
| Communications and courier | 5,868 | 7,380 | 11,396 | 13,833 |
| Amortization of intangible assets | 5,284 | 6,206 | 10,592 | 12,422 |
| Contract employment and outsourcing | 5,236 | 3,078 | 10,172 | 6,449 |
| Advertising and public relations | 2,525 | 5,574 | 9,981 | 12,816 |
| Legal fees | 2,498 | 6,486 | 4,321 | 9,317 |
| All other expense (Note 7) | 35,751 | 28,681 | 68,977 | 48,012 |
| Total noninterest expense | 332,168 | 300,394 | 643,487 | 596,484 |
| Income/(loss) before income taxes | 69,445 | 148,209 | 90,684 | 278,672 |
| Provision/(benefit) for income taxes | 12,780 | 34,467 | 17,547 | 61,525 |
| Net income/(loss) | 56,665 | 113,742 | 73,137 | 217,147 |
| Net income attributable to noncontrolling interest | 2,851 | 2,852 | 5,703 | 5,672 |
| Net income/(loss) attributable to controlling interest | 53,814 | 110,890 | 67,434 | 211,475 |
| Preferred stock dividends | 1,550 | 1,550 | 3,100 | 3,100 |
| Net income/(loss) available to common shareholders | $ 52,264 | $ 109,340 | $ 64,334 | $ 208,375 |
| Basic earnings/(loss) per share (Note 9) (in dollars per share) | $ 0.17 | $ 0.35 | $ 0.21 | $ 0.66 |
| Diluted earnings/(loss) per share (Note 9) (in dollars per share) | $ 0.17 | $ 0.35 | $ 0.21 | $ 0.66 |
| Weighted average common shares (Note 9) (in shares) | 312,090 | 314,063 | 311,843 | 315,740 |
| Diluted average common shares (Note 9) (in shares) | 312,936 | 315,786 | 312,792 | 317,720 |
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Statements of Comprehensive Income/(loss) | ||||
| Net income/(loss) | $ 56,665 | $ 113,742 | $ 73,137 | $ 217,147 |
| Other comprehensive income/(loss), net of tax: | ||||
| Net unrealized gains/(losses) on securities available-for-sale | (1,030) | 48,192 | 87,248 | 96,807 |
| Net unrealized gains/(losses) on cash flow hedges | 17 | 8,909 | 13,078 | 14,296 |
| Net unrealized gains/(losses) on pension and other postretirement plans | 2,379 | 1,561 | 4,484 | 3,024 |
| Other comprehensive income/(loss) | 1,366 | 58,662 | 104,810 | 114,127 |
| Comprehensive income/(loss) | 58,031 | 172,404 | 177,947 | 331,274 |
| Comprehensive income attributable to noncontrolling interest | 2,851 | 2,852 | 5,703 | 5,672 |
| Comprehensive income attributable to controlling interest | 55,180 | 169,552 | 172,244 | 325,602 |
| Income tax expense/(benefit) of items included in Other comprehensive income: | ||||
| Net unrealized gains/(losses) on securities available-for-sale | (336) | 15,819 | 28,451 | 31,777 |
| Net unrealized gains/(losses) on cash flow hedges | 5 | 2,924 | 4,265 | 4,692 |
| Net unrealized gains/(losses) on pension and other postretirement plans | $ 776 | $ 513 | $ 1,462 | $ 993 |
CONSOLIDATED CONDENSED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands |
Total |
Preferred Stock |
Common Stock |
Capital Surplus |
Undivided Profits |
Accumulated Other Comprehensive Income/(Loss) |
Noncontrolling Interest |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Adjustment to reflect adoption of ASU | Accounting Standards Update 2016-02 | $ (1,011) | $ (1,011) | ||||||||||||||||
| Balance, beginning of period (in shares) at Dec. 31, 2018 | 1,000 | 318,573 | ||||||||||||||||
| Balance, beginning of period at Dec. 31, 2018 | 4,785,380 | $ 95,624 | $ 199,108 | $ 3,029,425 | 1,542,408 | $ (376,616) | [1] | $ 295,431 | ||||||||||
| Beginning balance, as adjusted at Dec. 31, 2018 | 4,784,369 | $ 95,624 | $ 199,108 | 3,029,425 | 1,541,397 | (376,616) | [1] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Net income/(loss) | 103,405 | 100,585 | 2,820 | |||||||||||||||
| Other comprehensive income/(loss) | 55,465 | 55,465 | [1] | |||||||||||||||
| Comprehensive income/(loss) | 158,870 | 100,585 | 55,465 | [1] | 2,820 | |||||||||||||
| Cash dividends declared: | ||||||||||||||||||
| Preferred stock | (1,550) | (1,550) | ||||||||||||||||
| Common stock | (44,864) | (44,864) | ||||||||||||||||
| Common stock repurchased (in shares) | (3,594) | |||||||||||||||||
| Common stock repurchased | (53,436) | $ (2,246) | [2] | (51,190) | [2] | |||||||||||||
| Common stock issued for: | ||||||||||||||||||
| Stock options and restricted stock - equity awards (in shares) | 382 | |||||||||||||||||
| Stock options and restricted stock - equity awards | 520 | $ 239 | 281 | |||||||||||||||
| Stock-based compensation expense | 5,432 | 5,432 | ||||||||||||||||
| Dividends declared - noncontrolling interest of subsidiary preferred stock | (2,820) | (2,820) | ||||||||||||||||
| Balance, ending of period (in shares) at Mar. 31, 2019 | 1,000 | 315,361 | ||||||||||||||||
| Balance, end of period at Mar. 31, 2019 | 4,846,521 | $ 95,624 | $ 197,101 | 2,983,948 | 1,595,568 | (321,151) | [1] | 295,431 | ||||||||||
| Balance, beginning of period (in shares) at Dec. 31, 2018 | 1,000 | 318,573 | ||||||||||||||||
| Balance, beginning of period at Dec. 31, 2018 | 4,785,380 | $ 95,624 | $ 199,108 | 3,029,425 | 1,542,408 | (376,616) | [1] | 295,431 | ||||||||||
| Beginning balance, as adjusted at Dec. 31, 2018 | 4,784,369 | $ 95,624 | $ 199,108 | 3,029,425 | 1,541,397 | (376,616) | [1] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Net income/(loss) | 217,147 | |||||||||||||||||
| Other comprehensive income/(loss) | 114,127 | |||||||||||||||||
| Comprehensive income/(loss) | 331,274 | |||||||||||||||||
| Cash dividends declared: | ||||||||||||||||||
| Preferred stock | (3,100) | |||||||||||||||||
| Balance, ending of period (in shares) at Jun. 30, 2019 | 1,000 | 312,478 | ||||||||||||||||
| Balance, end of period at Jun. 30, 2019 | 4,926,081 | $ 95,624 | $ 195,299 | 2,941,696 | 1,660,520 | (262,489) | [1] | 295,431 | ||||||||||
| Balance, beginning of period (in shares) at Mar. 31, 2019 | 1,000 | 315,361 | ||||||||||||||||
| Balance, beginning of period at Mar. 31, 2019 | 4,846,521 | $ 95,624 | $ 197,101 | 2,983,948 | 1,595,568 | (321,151) | [1] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Net income/(loss) | 113,742 | 110,890 | 2,852 | |||||||||||||||
| Other comprehensive income/(loss) | 58,662 | 58,662 | [3] | |||||||||||||||
| Comprehensive income/(loss) | 172,404 | 110,890 | 58,662 | [3] | 2,852 | |||||||||||||
| Cash dividends declared: | ||||||||||||||||||
| Preferred stock | (1,550) | (1,550) | ||||||||||||||||
| Common stock | (44,388) | (44,388) | ||||||||||||||||
| Common stock repurchased (in shares) | (3,654) | |||||||||||||||||
| Common stock repurchased | (52,222) | $ (2,284) | [2] | (49,938) | [2] | |||||||||||||
| Common stock issued for: | ||||||||||||||||||
| Stock options and restricted stock - equity awards (in shares) | 771 | |||||||||||||||||
| Stock options and restricted stock - equity awards | 2,944 | $ 482 | 2,462 | |||||||||||||||
| Stock-based compensation expense | 5,224 | 5,224 | ||||||||||||||||
| Dividends declared - noncontrolling interest of subsidiary preferred stock | (2,852) | (2,852) | ||||||||||||||||
| Balance, ending of period (in shares) at Jun. 30, 2019 | 1,000 | 312,478 | ||||||||||||||||
| Balance, end of period at Jun. 30, 2019 | 4,926,081 | $ 95,624 | $ 195,299 | 2,941,696 | 1,660,520 | (262,489) | [1] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Adjustment to reflect adoption of ASU | Accounting Standards Update 2016-13 | (96,057) | (96,057) | ||||||||||||||||
| Balance, beginning of period (in shares) at Dec. 31, 2019 | 1,000 | 311,469 | ||||||||||||||||
| Balance, beginning of period at Dec. 31, 2019 | 5,076,008 | $ 95,624 | $ 194,668 | 2,931,451 | 1,798,442 | (239,608) | [3] | 295,431 | ||||||||||
| Beginning balance, as adjusted at Dec. 31, 2019 | 4,979,951 | $ 95,624 | $ 194,668 | 2,931,451 | 1,702,385 | (239,608) | [3] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Net income/(loss) | 16,472 | 13,620 | 2,852 | |||||||||||||||
| Other comprehensive income/(loss) | 103,444 | 103,444 | [3] | |||||||||||||||
| Comprehensive income/(loss) | 119,916 | 13,620 | 103,444 | [3] | 2,852 | |||||||||||||
| Cash dividends declared: | ||||||||||||||||||
| Preferred stock | (1,550) | (1,550) | ||||||||||||||||
| Common stock | (47,350) | (47,350) | ||||||||||||||||
| Common stock repurchased (in shares) | (141) | |||||||||||||||||
| Common stock repurchased | (2,064) | $ (88) | (1,976) | |||||||||||||||
| Common stock issued for: | ||||||||||||||||||
| Stock options and restricted stock - equity awards (in shares) | 652 | |||||||||||||||||
| Stock options and restricted stock - equity awards | 4,140 | $ 407 | 3,733 | |||||||||||||||
| Stock-based compensation expense | 7,281 | 7,281 | ||||||||||||||||
| Dividends declared - noncontrolling interest of subsidiary preferred stock | (2,852) | (2,852) | ||||||||||||||||
| Other (in shares) | [4] | (117) | ||||||||||||||||
| Other | [4] | (1,892) | $ (73) | (1,819) | ||||||||||||||
| Balance, ending of period (in shares) at Mar. 31, 2020 | 1,000 | 311,863 | ||||||||||||||||
| Balance, end of period at Mar. 31, 2020 | 5,055,580 | $ 95,624 | $ 194,914 | 2,938,670 | 1,667,105 | (136,164) | [3] | 295,431 | ||||||||||
| Balance, beginning of period (in shares) at Dec. 31, 2019 | 1,000 | 311,469 | ||||||||||||||||
| Balance, beginning of period at Dec. 31, 2019 | 5,076,008 | $ 95,624 | $ 194,668 | 2,931,451 | 1,798,442 | (239,608) | [3] | 295,431 | ||||||||||
| Beginning balance, as adjusted at Dec. 31, 2019 | 4,979,951 | $ 95,624 | $ 194,668 | 2,931,451 | 1,702,385 | (239,608) | [3] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Net income/(loss) | 73,137 | |||||||||||||||||
| Other comprehensive income/(loss) | 104,810 | |||||||||||||||||
| Comprehensive income/(loss) | 177,947 | |||||||||||||||||
| Cash dividends declared: | ||||||||||||||||||
| Preferred stock | (3,100) | |||||||||||||||||
| Balance, ending of period (in shares) at Jun. 30, 2020 | 2,500 | 312,359 | ||||||||||||||||
| Balance, end of period at Jun. 30, 2020 | 5,208,385 | $ 240,289 | $ 195,224 | 2,940,610 | 1,671,629 | (134,798) | [3] | 295,431 | ||||||||||
| Balance, beginning of period (in shares) at Mar. 31, 2020 | 1,000 | 311,863 | ||||||||||||||||
| Balance, beginning of period at Mar. 31, 2020 | 5,055,580 | $ 95,624 | $ 194,914 | 2,938,670 | 1,667,105 | (136,164) | [3] | 295,431 | ||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
| Net income/(loss) | 56,665 | 53,814 | 2,851 | |||||||||||||||
| Other comprehensive income/(loss) | 1,366 | 1,366 | [3] | |||||||||||||||
| Comprehensive income/(loss) | 58,031 | 53,814 | 1,366 | [3] | 2,851 | |||||||||||||
| Cash dividends declared: | ||||||||||||||||||
| Preferred stock | (1,550) | (1,550) | ||||||||||||||||
| Common stock | (47,740) | (47,740) | ||||||||||||||||
| Preferred stock issuance (in shares) (1,500 shares issued at $100,000 per share net of offering costs) | 1,500 | |||||||||||||||||
| Preferred stock issuance (1,500 shares issued at $100,000 per share net of offering costs) | 144,665 | $ 144,665 | ||||||||||||||||
| Common stock repurchased (in shares) | (183) | |||||||||||||||||
| Common stock repurchased | (1,468) | $ (114) | (1,354) | |||||||||||||||
| Common stock issued for: | ||||||||||||||||||
| Stock options and restricted stock - equity awards (in shares) | 679 | |||||||||||||||||
| Stock options and restricted stock - equity awards | $ 424 | (424) | ||||||||||||||||
| Stock-based compensation expense | 3,718 | 3,718 | ||||||||||||||||
| Dividends declared - noncontrolling interest of subsidiary preferred stock | (2,851) | (2,851) | ||||||||||||||||
| Balance, ending of period (in shares) at Jun. 30, 2020 | 2,500 | 312,359 | ||||||||||||||||
| Balance, end of period at Jun. 30, 2020 | $ 5,208,385 | $ 240,289 | $ 195,224 | $ 2,940,610 | $ 1,671,629 | $ (134,798) | [3] | $ 295,431 | ||||||||||
| ||||||||||||||||||
CONSOLIDATED CONDENSED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2020 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Mar. 31, 2019 |
|
| Preferred stock - cash dividends declared per share (in dollars per share) | $ 1,550 | $ 1,550 | $ 1,550 | $ 1,550 |
| Common stock - cash dividends declared per share (in dollars per share) | 0.15 | $ 0.15 | $ 0.14 | $ 0.14 |
| First Horizon Share Repurchase Program | ||||
| Common stock repurchased under share repurchase program | $ 50.2 | $ 51.5 | ||
| Preferred Stock | ||||
| Preferred stock issuance, net of offering cost (in dollars per share) | $ 100,000,000 | |||
| Number of shares issued in transaction (in shares) | 1,500,000 | |||
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
6 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
||||||||
| Operating Activities | |||||||||
| Net income/(loss) | $ 73,137 | $ 217,147 | |||||||
| Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities: | |||||||||
| Provision/(provision credit) for loan losses | 255,000 | 22,000 | |||||||
| Provision/(benefit) for deferred income taxes | (38,528) | 60,943 | |||||||
| Depreciation and amortization of premises and equipment | 21,040 | 22,564 | |||||||
| Amortization of intangible assets | 10,592 | 12,422 | |||||||
| Net other amortization and accretion | 7,838 | (2,542) | |||||||
| Net (increase)/decrease in derivatives | (368,592) | (119,415) | |||||||
| Fair value adjustment on interest-only strips | 2,528 | 1,399 | |||||||
| (Gains)/losses and write-downs on OREO, net | 117 | (304) | |||||||
| Litigation and regulatory matters | 0 | (8,330) | |||||||
| Stock-based compensation expense | 10,999 | 10,656 | |||||||
| Gain on sale and pay down of held-to-maturity loans | 0 | (1,105) | |||||||
| Equity securities (gains)/losses, net | 1,468 | (347) | |||||||
| Debt securities (gains)/losses, net | 0 | 267 | |||||||
| Net (gains)/losses on sale/disposal of fixed assets | 1,816 | 19,182 | |||||||
| (Gain)/loss on BOLI | (3,880) | (2,578) | |||||||
| Loans held-for-sale: | |||||||||
| Purchases and originations | (1,096,917) | (1,003,375) | |||||||
| Gross proceeds from settlements and sales | 322,517 | 361,895 | |||||||
| (Gain)/loss due to fair value adjustments and other | 6,619 | 36,138 | |||||||
| Net (increase)/decrease in: | |||||||||
| Trading securities | 833,483 | 581,187 | |||||||
| Fixed income receivables | (105,341) | (108,713) | |||||||
| Interest receivable | (6,917) | (6,120) | |||||||
| Other assets | (131,628) | 7,394 | |||||||
| Net increase/(decrease) in: | |||||||||
| Trading liabilities | (272,839) | 222,967 | |||||||
| Fixed income payables | (24,800) | 56,797 | |||||||
| Interest payable | (9,850) | 12,435 | |||||||
| Other liabilities | 9,183 | (45,278) | |||||||
| Total adjustments | (576,092) | 130,139 | |||||||
| Net cash provided/(used) by operating activities | (502,955) | 347,286 | |||||||
| Available-for-sale securities: | |||||||||
| Sales | 8,703 | 171,423 | |||||||
| Maturities | 571,676 | 339,315 | |||||||
| Purchases | (1,498,312) | (144,534) | |||||||
| Premises and equipment: | |||||||||
| Sales | 2,382 | 8,157 | |||||||
| Purchases | (20,851) | (12,487) | |||||||
| Proceeds from sales of OREO | 4,475 | 9,651 | |||||||
| Proceeds from sale and pay down of loans classified as held-to-maturity | 0 | 20,100 | |||||||
| Proceeds from BOLI | 7,826 | 8,945 | |||||||
| Net (increase)/decrease in: | |||||||||
| Loans | (1,648,847) | (2,183,862) | |||||||
| Interests retained from securitizations classified as trading securities | 130 | 298 | |||||||
| Interest-bearing cash | (2,653,439) | 684,431 | |||||||
| Net cash provided/(used) by investing activities | (5,226,257) | (1,098,563) | |||||||
| Common stock: | |||||||||
| Stock options exercised | 4,145 | 3,464 | |||||||
| Cash dividends paid | (91,925) | (83,711) | |||||||
| Repurchase of shares | [1] | (3,543) | (105,658) | ||||||
| Cancellation of common shares | [2] | (1,892) | 0 | ||||||
| Preferred stock issuance | 144,665 | 0 | |||||||
| Cash dividends paid - preferred stock - noncontrolling interest | (5,734) | (5,703) | |||||||
| Cash dividends paid - Series A preferred stock | (3,100) | (3,100) | |||||||
| Term borrowings: | |||||||||
| Issuance (c) | 1,241,534 | [3] | 0 | ||||||
| Payments/maturities | 0 | (1,180) | |||||||
| Increases/(decreases) in restricted and secured term borrowings | (5,483) | 4,481 | |||||||
| Net increase/(decrease) in: | |||||||||
| Deposits | 5,329,816 | (374,675) | |||||||
| Short-term borrowings | (1,126,617) | 1,161,739 | |||||||
| Net cash provided/(used) by financing activities | 5,481,866 | 595,657 | |||||||
| Net increase/(decrease) in cash and cash equivalents | (247,346) | (155,620) | |||||||
| Cash and cash equivalents at beginning of period | 1,266,893 | 1,405,325 | |||||||
| Cash and cash equivalents at end of period | 1,019,547 | 1,249,705 | |||||||
| Supplemental Disclosures | |||||||||
| Total interest paid | 125,368 | 200,625 | |||||||
| Total taxes paid | 6,486 | 14,842 | |||||||
| Total taxes refunded | 541 | 27,742 | |||||||
| Transfer from loans to OREO | 1,888 | 3,343 | |||||||
| Transfer from loans HFS to trading securities | $ 603,856 | $ 802,259 | |||||||
| |||||||||
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
|||
| Repurchase of shares | [1] | $ 105,658 | ||
| Proceeds from issuance of senior long-term debt | $ 800,000 | |||
| First Horizon Share Repurchase Program | ||||
| Repurchase of shares | $ 101,700 | |||
| First Horizon Bank | ||||
| Proceeds from issuance of subordinated long-term debt | $ 450,000 | |||
| ||||
Financial Information |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Information | Financial Information Basis of Accounting. The unaudited interim consolidated condensed financial statements of First Horizon National Corporation (“FHN”), including its subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America and follow general practices within the industries in which it operates. This preparation requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the financial statements and could differ from actual results. In the opinion of management, all necessary adjustments have been made for a fair presentation of financial position and results of operations for the periods presented. These adjustments are of a normal recurring nature unless otherwise disclosed in this Quarterly Report on Form 10-Q. The operating results for the interim 2020 period are not necessarily indicative of the results that may be expected going forward. For further information, refer to the audited consolidated financial statements in Item 8 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2019. Revenues. Revenue is recognized when the performance obligations under the terms of a contract with a customer are satisfied in an amount that reflects the consideration FHN expects to be entitled. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized immediately upon completion of the transaction. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. Any services performed over time generally require that FHN render services each period and therefore FHN measures progress in completing these services based upon the passage of time and recognizes revenue as invoiced. See Note 1– Summary of Significant Accounting Policies in the Notes to Consolidated Financial Statements on Form 10-K for the year ended December 31, 2019, for a discussion of FHN's key revenues. Contract Balances. As of June 30, 2020, accounts receivable related to products and services on non-interest income were $8.9 million. For the three months ended June 30, 2020, FHN had no material impairment losses on non-interest accounts receivable and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Condensed Statements of Condition as of June 30, 2020. Credit risk is assessed on these accounts receivable each reporting period and the amount of estimated uncollectible receivables is not material. Transaction Price Allocated to Remaining Performance Obligations. For the three and six months ended June 30, 2020, revenue recognized from performance obligations related to prior periods was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less and contracts where revenue is recognized as invoiced, is not material. Refer to Note 12– Business Segment Information for a reconciliation of disaggregated revenue by major product line and reportable segment. Debt Investment Securities. Debt securities that may be sold prior to maturity are classified as available-for-sale (“AFS”) and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Condensed Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity (“HTM”) are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses (i.e., from sales) for debt investment securities are determined by the specific identification method and reported in noninterest income. In periods subsequent to 2019, the evaluation of credit risk for HTM debt securities mirrors the process described below for loans held-for-investment. AFS debt securities are reviewed for potential credit impairment at the individual security level. The evaluation of credit risk includes consideration of third-party and government guarantees (both explicit and implicit), senior or subordinated status, credit ratings of the issuer, the effects of interest rate changes since purchase and observable market information such as issuer-specific credit spreads. Credit losses for AFS debt securities are generally recognized through establishment of an allowance for credit losses that cannot exceed the amount by which amortized cost exceeds fair value. Charge offs are recorded as reductions of the security’s amortized cost and the credit allowance. Subsequent improvements in estimated credit losses result in reduction of the credit allowance, but not beyond zero. However, if FHN has the intent to sell or if it is more-likely-than-not that it will be compelled to sell a security with an unrecognized loss, the difference between the security's carrying value and fair value is recognized through earnings and a new amortized cost basis is established for the security (i.e., no allowance for credit losses is recognized). FHN has elected to exclude accrued interest receivable (“AIR”) from the fair value and amortized cost basis on AFS debt securities when assessing whether these securities have experienced credit impairment. Additionally, FHN has elected to not measure an allowance for credit losses on AIR for AFS debt securities based on its policy to write off uncollectible interest in a timely manner, which generally occurs when delinquency reaches no more than 90 days for all security types. Any such write offs are recognized as a reduction of interest income. AIR for AFS debt securities is included within Other assets in the Consolidated Condensed Statement of Condition. In periods prior to 2020, both AFS and HTM securities were reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review included an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value had been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Declines in value judged to be other-than-temporary (“OTTI”) based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN had the intent to sell, were determined by the specific identification method. For HTM debt securities, OTTI recognized was typically credit-related and was reported in noninterest income. For impaired AFS debt securities that FHN did not intend to sell and was not required to sell prior to recovery but for which credit losses existed, the OTTI recognized was allocated between the total impairment related to credit losses which was reported in noninterest income, and the impairment related to all other factors which was excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Condensed Statements of Comprehensive Income. Fed Funds Sold and Purchased. Fed funds sold and purchased represent unsecured overnight funding arrangements between participants in the Federal Reserve system primarily to assist banks in meeting their regulatory cash reserve requirements. Fed Funds sold are evaluated for credit risk each reporting period. Due to the short duration of each transaction and the history of no credit losses, no credit loss has been recognized. Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase. FHN purchases short-term securities under agreements to resell which are accounted for as collateralized financings except where FHN does not have an agreement to sell the same or substantially the same securities before maturity at a fixed or determinable price. All of FHN’s securities purchased under agreements to resell are recognized as collateralized financings. Securities delivered under these transactions are delivered to either the dealer custody account at the FRB or to the applicable counterparty. Securities sold under agreements to repurchase are offered to cash management customers as an automated, collateralized investment account. Securities sold under agreements to repurchase are also used by the consumer/commercial bank to obtain favorable borrowing rates on its purchased funds. All of FHN's securities sold under agreements to repurchase are secured borrowings. Collateral is valued daily and FHN may require counterparties to deposit additional securities or cash as collateral, or FHN may return cash or securities previously pledged by counterparties, or FHN may be required to post additional securities or cash as collateral, based on the contractual requirements for these transactions. FHN’s fixed income business utilizes securities borrowing arrangements as part of its trading operations. Securities borrowing transactions generally require FHN to deposit cash with the securities lender. The amount of cash advanced is recorded within Securities purchased under agreements to resell in the Consolidated Condensed Statements of Condition. These transactions are not considered purchases and the securities borrowed are not recognized by FHN. FHN does not conduct securities lending transactions. Securities purchased under agreements to resell and securities borrowing arrangements are evaluated for credit risk each reporting period. As presented in Note 15 - Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions, these agreements are collateralized by the related securities and collateral maintenance provisions with counterparties, including replenishment and adjustment on a transaction specific basis. This collateral includes both the securities collateral for each transaction as well as offsetting securities sold under agreements to repurchase with the same counterparty. Given the history of no credit losses and collateralized nature of these transactions, no credit loss has been recognized. Loans. Generally, loans are stated at principal amounts outstanding, net of unearned income. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs as well as premiums and discounts are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs, premiums and discounts are recognized in interest income upon early repayment of the loans. Cash collections from loans that were fully charged off prior to acquisition are recognized in noninterest income. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. FHN has elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis on for its held-for-investment loan portfolio. FHN has also elected to not measure an allowance for credit losses on AIR for loans held-for-investment based on its policy to write off uncollectible interest in a timely manner, which occurs when a loan is placed on nonaccrual status. Such write offs are recognized as a reduction of interest income. AIR for held-for-investment loans is included within Other assets in the Consolidated Condensed Statements of Condition. FHN has continued to accrue interest on loans for which payment deferrals have been extended to borrowers affected by the COVID-19 pandemic ("COVID-19 Deferrals"). Deferrals are made for durations up to six months, which is beyond FHN's normal write-off practices for accrued interest. Therefore, these interest deferrals do not qualify for FHN's election to not recognize a credit loss allowance for accrued interest. Accordingly, FHN has estimated credit losses for COVID-19 interest deferrals which is included within AIR in Other assets in the Consolidated Condensed Statements of Condition. Purchased Credit-Deteriorated Loans. Subsequent to 2019, FHN evaluates all acquired loans to determine if they have experienced a more-than-insignificant deterioration in credit quality since origination (“PCD loans”). PCD loans can be identified on either an 1) individual or 2) pooled basis when the loans share similar risk characteristics. FHN evaluates various absolute factors to assist in the identification of PCD loans, including criteria such as, existing PCD status, risk rating of special mention or lower, nonaccrual or impaired status, identification of prior TDRs, and delinquency status. FHN also utilizes relative factors to identify PCD loans such as commercial loan grade migration, expansion of borrower credit spreads, declines in external risk ratings and changes in consumer loan characteristics (e.g., FICO decline or LTV increase). In addition, factors reflective of broad economic considerations are also considered in identifying PCD loans. These include industry, collateral type, and geographic location for the borrower’s operations. Internal factors for origination of new loans that are similar to the acquired loans are also evaluated to assess loans for PCD status, including increases in required yields, necessity of borrowers’ providing additional collateral and/or guarantees and changes in acceptable loan duration. Other indicators may also be used to evaluate loans for PCD status depending on borrower-specific communications and actions, such public statements, initiation of loan modification discussions and obtaining emergency funding from alternate sources. Upon acquisition, the expected credit losses are allocated to the purchase price of individual PCD loans to determine each individual assets amortized cost basis, typically resulting in a reduction of the discount that is accreted prospectively to interest income. At the acquisition date and prospectively, only the unpaid principal balance is incorporated within the estimation of expected credit losses for PCD loans. Otherwise, the process for estimate of expected credit losses is consistent with that discussed below. As discussed below FHN applies undiscounted cash flow methodologies for the estimation of expected credit losses, which results in the calculated amount of credit losses at acquisition that is added to the amortized cost basis of the related PCD loans to exceed the discounted value of estimated credit losses included in the loan valuation. Purchased Credit-Impaired Loans. Prior to 2020, ASC 310-30 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer,” established guidance for acquired loans that exhibited deterioration of credit quality between origination and the time of acquisition and for which the timely collection of the interest and principal was not reasonably assured (“PCI loans”). PCI loans were initially recorded at fair value which was estimated by discounting expected cash flows at acquisition date. The expected cash flows included all contractually expected amounts (including interest) and incorporated an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools was based upon common risk characteristics that include similar credit risk or risk ratings, and one or more predominant risk characteristics. Each PCI pool was accounted for as a single unit. Accretable yield was initially established at acquisition and is the excess of cash flows expected at acquisition over the initial investment in the loan and was recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference was initially established at acquisition and was the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimated expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement resulted in reversal of any nonaccretable difference (or allowance for loan losses to the extent any has previously been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows resulted in an increase in the allowance for loan losses through provision expense. FHN did not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that have been pooled and subsequently modified were not reported as troubled debt restructurings since the pool was the unit of measurement. Subsequent to 2019, PCI loans have transitioned to purchased-credit-deteriorated status and are accounted for as discussed above. Allowance for Loan Losses. The nature of the process by which FHN determines the appropriate ALLL requires the exercise of considerable judgment. See Note 5 - Allowance for Loan Losses for a discussion of FHN’s ALLL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. The discussion herein reflects periods before and after implementation of a change in credit loss estimation processes that was effective January 1, 2020. Future adjustments to the ALLL may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. Subsequent to 2019 The ALLL is maintained at a level that management determines is sufficient to absorb current expected credit losses (“CECL”) in the loan portfolio. Management uses analytical models to estimate expected credit losses in the loan portfolio as of the balance sheet date. The models are carefully reviewed to identify trends that may not be captured in the modeled loss estimates. Management uses qualitative adjustments for those items not reflected in the modeled loss information such as recent changes from the macroeconomic forecasts utilized in model calculations, results of additional stressed modeling scenarios, observed and/or expected changes affecting borrowers in specific industries or geographic areas, exposure to large lending relationships and expected recoveries of prior charge offs. The ALLL is increased by the provision for loan losses and is decreased by loan charge-offs. The ALLL is determined in accordance with ASC 326-20 "Financial Instruments - Credit Losses.” Credit loss estimation is based on the amortized cost of Loans, net, which includes the following: 1. Unpaid principal balance for originated assets or acquisition price for purchased assets 2. Accrued interest (see elections discussed previously) 3. Accretion or amortization of premium, discount, and net deferred fees or costs 4. Collection of cash 5. Charge-offs 6. Foreign exchange adjustments (none for FHN) 7. Fair value hedge accounting adjustments (none for FHN) Premiums, discounts and net deferred origination costs/fees affect the calculated amount of expected credit losses but they are not considered when determining the amount of expected credit losses that are recorded. Under CECL, loans must be pooled when they share similar risk characteristics with other loans. Loans that do not share similar risk characteristics are evaluated individually. Expected credit loss is estimated for the remaining life of loan(s), which is limited to the remaining contractual term(s), adjusted for prepayment estimates, which are included as separate inputs into modeled loss estimates. Renewals and extensions are not anticipated unless they are included in existing loan documentation and are not unconditionally cancellable by the lender. However, losses are estimated over the estimated remaining life of reasonably expected TDRs which can extend beyond the current remaining contractual term. Estimates of expected credit losses incorporate consideration of available information that is relevant to assessing the collectability of future cash flows. This includes internal and external information relating to past events, current conditions and reasonable and supportable forecasts of future conditions. FHN utilizes internal historical loss information as the initial point for estimating expected credit losses. Given the duration of historical information available, FHN considers its internal loss history to fully incorporate the effects of prior credit cycles. The historical loss information may be adjusted in situations where current loan characteristics (e.g., underwriting criteria) differ from those in existence at the time the historical losses occurred. Historical loss information is also adjusted for differences in economic conditions, macroeconomic forecasts and other factors management considers relevant over a period extending beyond the measurement date which is considered reasonable and supportable. This reasonable and supportable period is followed by a reversion period after which loss estimates are based on long-term historical loss averages. FHN generally measures expected credit losses using undiscounted cash flow methodologies. Credit enhancements (e.g., guarantors) are considered in the estimation of uncollectible cash flows. Estimation of expected credit losses for loan agreements involving collateral maintenance provisions include consideration of the value of the collateral and replenishment requirements, with the maximum loss limited to the difference between the amortized cost of the loan and the fair value of the collateral. Expected credit losses for loans for which foreclosure is probable are measured at the fair value of collateral, less estimated costs to sell when disposition through sale is anticipated. Additionally, certain loans are valued at the fair value of collateral when repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty. Expected credit losses for TDRs are measured in accordance with ASC 310-40, which generally requires a discounted cash flow methodology, whereby the loans are measured based on the present value of expected future payments discounted at the loan’s original effective interest rate. Expected recoveries of previously charged-off amounts are also included as a qualitative adjustment in the estimation of expected credit losses, which reduces the amount of the allowance recognized. Estimates of recoveries on previously charged-off assets included in the valuation account do not exceed the aggregate of amounts previously written off and expected to be written off. Since CECL requires estimation of credit for the entire expected life of loans, loss estimates are highly sensitive to changes in macroeconomic forecasts, especially when those forecasts change dramatically in short time periods. Additionally, under CECL credit loss estimates are more likely to increase rapidly in periods of loan growth. Expected credit losses for unfunded commitments are estimated for periods where the commitment is not unconditionally cancellable by FHN. The measurement of expected credit losses for unfunded commitments mirrors that of loans with the additional estimate of future draw rates (timing and amount). Prior to 2020 The ALLL was maintained at a level that management determined was sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL was increased by the provision for loan losses and loan recoveries and was decreased by loan charge-offs. The ALLL was determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and was composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous consumer and commercial loans. The reserve factors applied to these pools were an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL included specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management used analytical models to estimate probable incurred losses in the loan portfolio as of the balance sheet date. The models, which were primarily driven by historical losses, were carefully reviewed to identify trends that may not have been captured in the historical loss factors used in the models. Management used qualitative adjustments for those items not yet captured in the models like then-current events, recent trends in the portfolio, current underwriting guidelines, and local and macroeconomic trends, among other things. Key components of the estimation process were as follows: (1) commercial loans determined by management to be individually impaired loans were evaluated individually and specific reserves were determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired were segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment were calculated based on historical net charge-offs and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflected the reserve rates applied against the balance of loans in the commercial segment of the loan portfolio; (5) consumer loans were generally segmented based on loan type; (6) reserve amounts for each consumer portfolio segment were calculated using analytical models based on delinquency trends and net loss experience and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each consumer portfolio segment reflected management’s estimate of probable incurred losses in the consumer segment of the loan portfolio. Impairment related to individually impaired loans was measured in accordance with ASC 310-10. All commercial portfolio segments, commercial TDRs and other individually impaired commercial loans were measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value (collateral value less estimated costs to sell). Impaired loans also included consumer TDRs. Summary of Accounting Changes. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” which revises the measurement and recognition of credit losses for assets measured at amortized cost (e.g., HTM loans and debt securities) and AFS debt securities. Under ASU 2016-13, for assets measured at amortized cost, the current expected credit loss (“CECL”) is measured as the difference between amortized cost and the net amount expected to be collected. This represents a departure from prior GAAP as the “incurred loss” methodology for recognizing credit losses delayed recognition until it was probable a loss had been incurred. Under CECL the full amount of expected credit losses will be recognized at the time of loan origination. The measurement of current expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Additionally, current disclosures of credit quality indicators in relation to the amortized cost of financing receivables are further disaggregated by year of origination. ASU 2016-13 leaves the methodology for measuring credit losses on AFS debt securities largely unchanged, with the maximum credit loss representing the difference between amortized cost and fair value. However, such credit losses are recognized through an allowance for credit losses, which permits recovery of previously recognized credit losses if circumstances change. ASU 2016-13 also revises the recognition of credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (“PCD assets”). For PCD assets, the initial allowance for credit losses is added to the purchase price. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for PCD assets. Interest income for PCD assets is recognized based on the effective interest rate, excluding the discount embedded in the purchase price that is attributable to the acquirer’s assessment of credit losses at acquisition. Previously, credit losses for purchased credit-impaired assets were included in the initial basis of the assets with subsequent declines in credit resulting in expense while subsequent improvements in credit were reflected as an increase in the future yield from the assets. For non-PCD assets, expected credit losses are recognized through earnings upon acquisition and the entire premium or discount accreted to interest income over the remaining life of the loan. Credit allowances for acquired non-PCD assets are established through immediate recognition of credit loss expense (similar to originated loans) and do not consider purchase discounts related to estimated credit losses. The provisions of ASU 2016-13 were generally adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in the year of adoption. Prospective implementation is required for debt securities for which an other-than-temporary-impairment (“OTTI”) had been previously recognized. Amounts previously recognized in accumulated other comprehensive income (“AOCI”) as of the date of adoption that relate to improvements in cash flows expected to be collected continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption are recorded in earnings when received. A prospective transition approach was used for existing PCD assets where, upon adoption, the amortized cost basis was increased to offset the initial recognition of the allowance for credit losses. Thus, an entity was not required to reassess its purchased financial assets that existed as of the date of adoption to determine whether they would have met at acquisition the new criteria of more-than-insignificant credit deterioration since origination. An entity accretes the remaining noncredit discount (based on the revised amortized cost basis) into interest income at the effective interest rate at the adoption date. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. FHN’s most significant implementation activities included review of loan portfolio segments and classes, identification and evaluation of collateral dependent loans and loans secured by collateral replenishment arrangements, selection of measurement methodologies and related model development, data accumulation and verification, development of loan life estimates, identification of reasonable and supportable forecast periods, selection of time lines and methods for reversion to unadjusted historical information, multiple preliminary analysis including parallel runs against existing loan loss estimation processes, and design and evaluation of internal controls over the new estimation processes. FHN utilizes undiscounted cash flow methods for loans except for troubled debt restructurings, which require use of discounted cash flow methodologies. A significant portion of the adoption impact for ASU 2016-13 relates to increased reserves within the consumer portfolios, given the longer contractual maturities associated with many of these products as well as increased reserves for acquired loans that previously considered purchase discounts. Based on its implementation efforts, FHN recorded the following adoption adjustments effective January 1, 2020.
(a) The effect on loans represents the increase in amortized cost for recognition of the allowance for credit losses on PCD loans. FHN also assessed several asset classes other than loans that are within the scope of CECL and determined that the adoption effects for the change in measurement of credit risk were minimal for these classes. This includes Fed funds sold which have no history of credit losses due to their short (typically overnight) duration and counterparty risk assessment processes. This also includes securities borrowed and securities purchased under agreements to resell which have collateral maintenance agreements that incorporate master netting provisions resulting in minimal uncollateralized positions as of any date as evidenced by the disclosures provided in Note 15 - Master Netting and Similar Agreements-Repurchase, Reverse Repurchase, and Securities Borrowing Transactions. Additionally, FHN also evaluated the composition of its AFS securities and determined that the changes in ASU 2016-13 did not have an effect on the current portfolio. In April 2019, the FASB issued ASU 2019-04, "Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments," which provides an election to either 1) not measure or 2) measure separately an allowance for credit losses for accrued interest receivable (“AIR"). Entities electing to not measure an allowance for AIR must write off uncollectible interest in a timely manner. Additionally, an election is provided for the write off of uncollectible interest to be recorded either as a reversal of interest income or a charge against the allowance for credit losses or a combination of both. Disclosures are required depending upon which elections are made. ASU 2019-04 also clarifies that when loans and securities are transferred between balance sheet categories (e.g., loans from held-for-investment to held-for-sale or securities from held-to-maturity to available-for-sale) the associated allowance for credit losses should be reversed to income and prospective accounting follows the requirements for the new classification. Further, ASU 2019-04 clarifies that recoveries should be incorporated within the estimation of the allowance for credit losses. Expected recoveries should not exceed the aggregate amount of prior write offs and expected future write offs. The inclusion of expected recoveries in the measurement of expected credit losses may result in a negative credit allowance in certain circumstances. Additionally, for collateral dependent financial assets, the allowance for credit losses that is added to the amortized cost basis should not exceed amounts previously written off. ASU 2019-04 also makes several changes when a discounted cash flow approach is used to measure expected credit losses. ASU 2019-04 removes ASU 2016-03’s prohibition of using projections of future interest rate environments when using a discounted cash flow method to measure expected credit losses on variable-rate financial instruments. If an entity uses projections or expectations of future interest rate environments in estimating expected cash flows, the same assumptions should be used in determining the effective interest rate used to discount those expected cash flows. The effective interest rate should also be adjusted to consider the effects of expected prepayments on the timing of expected future cash flows. ASU 2019-04 provides an election to adjust the effective interest rate used in discounting expected cash flows to isolate credit risk in measuring the allowance for credit losses. Further, the discount rate should not be adjusted for subsequent changes in expected prepayments if a financial asset is restructured in a troubled debt restructuring. Related to collateral-dependent financial assets, ASU 2019-04 requires inclusion of estimated costs to sell in the measurement of expected credit losses in situations where the entity intends to sell rather than operate the collateral. Additionally, the estimated costs to sell should be undiscounted when the entity intends to sell rather than operate the collateral. Finally, ASU 2019-04 specifies that contractual renewal or extension options, except those treated as derivatives, should be included in the determination of the contractual term for a financial asset when included in the original or modified contract as of the reporting date if they are not unconditionally cancellable by the entity. The effective date and transition requirements for these components of ASU 2019-04 are consistent with the requirements for ASU 2016-13 and FHN incorporated these changes and revisions within its implementation efforts. Based on its previous existing practices for the timely write off uncollectible AIR, FHN elected to not measure an allowance for credit losses for AIR and to continue recognition of related write offs as a reversal of interest income. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments - Credit Losses, Targeted Transition Relief,” which provides an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis that are in the scope of ASU 2016-13, applied on an instrument-by-instrument basis. The fair value option election does not apply to HTM debt securities. The effective date and transition requirements for ASU 2019-05 are consistent with the requirements for ASU 2016-13. FHN did not elect to apply the fair value option to any asset classes that are in scope for CECL. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses” which clarifies that expected recoveries should be included in the amortized cost basis previously written off or expected to be written off in the valuation allowance for PCD assets. ASU 2019-11 also clarifies that recoveries or expected recoveries of the unamortized noncredit discount or premium should not be included in the allowance for credit losses. ASU 2019-11 provides specific transition relief for existing troubled debt restructurings and extends the disclosure relief of ASU 2019-04 for accrued interest receivable balances to additional relevant disclosures involving amortized cost basis. Related to the assessment of credit risk for collateralized assets, ASU 2019-11 indicates that an entity should assess whether it reasonably expects the borrower will be able to continually replenish collateral securing the financial asset to apply the practical expedient of ASU 2016-13 while also requiring an estimation of expected credit losses for any difference between the amount of the amortized cost basis that is greater than the fair value of the collateral securing the financial asset. The effective date and transition requirements for ASU 2019-11 are consistent with the requirements for ASU 2016-13 and FHN incorporated these changes and revisions within its implementation efforts and the effects are embedded within the adoption effects of ASU 2016-13. Consistent with non-PCD assets, the effect of including recoveries and expected recoveries within the measurement of expected credit losses for PCD assets may result in a negative credit allowance in certain circumstances. On March 22, 2020, The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau issued guidance (the “Interagency Guidance”) that interprets, but does not suspend, ASC 310-40 related to the identification of troubled debt restructurings (“TDRs”). Also on that day, the FASB issued a statement indicating that the Interagency Guidance had been developed in consultation with the staff of the FASB who concurred in the approach. The Interagency Guidance indicates that a lender can conclude that a borrower is not experiencing financial difficulty if either 1) short-term (e.g., six months) modifications are made in response to the economic effects of the Coronavirus disease 2019 (“COVID-19”) pandemic, such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant related to loans in which the borrower is less than 30 days past due on its contractual payments at the time a modification program is implemented, or 2) the modification or deferral program is mandated by the federal government or a state government. Accordingly, any loan modification made in response to COVID-19 pandemic that meets either of these practical expedients would not be considered a TDR because the borrower is not experiencing financial difficulty. Consistent with this perspective, financial institutions are generally not expected to designate loans with deferrals granted due to COVID-19 as past due or nonaccrual because of a deferral. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides relief from certain requirements under U.S. GAAP. Section 4013 of the CARES Act provides entities optional temporary relief from the accounting and disclosure requirements for troubled debt restructurings (TDRs) under ASC 310-40 in certain situations. Section 4013 of the CARES Act permits the suspension of ASC 310-40 for loan modifications that are made by financial institutions in response to the COVID-19 pandemic if 1) the borrower was not more than 30 days past due as of December 31, 2019, and 2) the modifications are related to arrangements that defer or delay the payment of principal or interest, or change the interest rate on the loan. The CARES provisions apply to loan modifications relating to COVID-19 that are made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the national emergency related to COVID-19 ends. On April 3, 2020, the Chief Accountant of the SEC issued a statement indicating that the staff would not object to the conclusion that elective application of the provisions of CARES Act are in accordance with GAAP for the periods that such elections are available. On April 7, 2020, revised Interagency Guidance was issued to reflect the interaction of the CARES Act provisions and the Interagency Guidance, clarifying that the CARES Act guidance can be applied for regulatory purposes. Loan modifications outside the scope of the CARES Act and organizations that elect to not apply the CARES Act guidance should continue to apply ASC 310-40 as interpreted by the Interagency Guidance. FHN has evaluated the provisions of the CARES Act and the Interagency Guidance related to loan modification programs instituted as a result of the COVID-19 pandemic. FHN’s programs involve the deferral of principal and interest payments, fee waivers and extensions for shorter terms (i.e., 6 months or less) or in response to government modification requirements which are consistent with the terms of the Interagency Guidance. Depending upon the duration and severity of the economic effects of the COVID-19 pandemic, additional loan modification programs may be implemented in the future which will be separately evaluated under the CARES Act and the Interagency Guidance. Accounting Changes Issued but Not Currently Effective In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which provides several optional expedients and exceptions to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The provisions of ASU 2020-04 primarily affect 1) contract modifications (e.g., loans, leases, debt, and derivatives) made in anticipation that a reference rate (e.g., LIBOR) will be discontinued and 2) the application of hedge accounting for existing relationships affected by those modifications. The provisions of ASU 2020-04 are effective upon release and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by ASU 2020-04 do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. FHN has been identifying contracts affected by reference rate reform and developing modification plans for those contracts. FHN anticipates that it will utilize the optional expedients and exceptions provided by ASU 2020-04 in situations where they mitigate potential accounting outcomes that do not faithfully represent management’s intent or risk management activities which is consistent with the purpose of the standard.
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Acquisitions and Divestitures |
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| Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions and Divestitures | Acquisitions and Divestitures On July 1, 2020, FHN and IBERIABANK Corporation ("IBKC") closed their merger-of-equals transaction. FHN issued approximately 242 million shares of FHN common stock, plus three new series of preferred stock (Series B, Series C, and Series D) in a transaction valued at $2.5 billion. At the time of closing, IBKC operated 319 offices in 12 states, mostly in the southern and southeastern U.S. In the merger: FHN acquired approximately $34.7 billion in assets, including approximately $26.1 billion in loans and $3.5 billion in AFS securities; and, FHN assumed approximately $28.3 billion of IBKC deposits. Due to the timing of the merger closing in relation to quarter end and the uncertainty of valuations in the current economic environment, FHN's assessment of the fair value of IBKC's assets and liabilities is incomplete. However, FHN currently expects to recognize a purchase accounting gain. Total merger expenses for the IBKC merger recognized for the three and six months ended June 30, 2020 are presented in the table below:
On July 17, 2020, First Horizon Bank completed its purchase of 30 branches from Truist Bank. As part of the transaction, FHN assumed approximately $2.2 billion of branch deposits for a 3.40 percent deposit premium and purchased approximately $423.7 million of branch loans. The branches are in communities in North Carolina (20 branches), Virginia (8 branches), and Georgia (2 branches). This transaction qualifies as a business combination. Due to the timing of the merger closing in relation to quarter end and the uncertainty of valuations in the current economic environment, FHN's assessment of the fair value of the acquired assets and liabilities is incomplete. See Note 2- Acquisitions and Divestitures in the Notes to Consolidated Financial Statements on Form 10-K for the year ended December 31, 2019, for additional information about FHN's other acquisitions. Expenses related to FHN's merger and integration activities are recorded in FHN's Corporate segment. Total other merger and integration expense recognized for the three and six months ended June 30, 2020 and 2019 are presented in the table below:
Certain previously reported amounts have been reclassified to agree with current presentation.
In addition to the transactions mentioned above, FHN acquires or divests assets from time to time in transactions that are considered business combinations or divestitures but are not material to FHN individually or in the aggregate. In April 2019, FHN sold a subsidiary acquired as part of the CBF merger in 2017 that did not fit within FHN's risk profile. The sale resulted in the removal of approximately $25 million UPB of subprime consumer loans from Loans held-for-sale on FHN's Consolidated Condensed Statements of Condition.
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Investment Securities |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Marketable Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | Investment Securities The following tables summarize FHN’s investment securities on June 30, 2020 and December 31, 2019:
The amortized cost and fair value by contractual maturity for the available-for-sale and held-to-maturity debt securities portfolios on June 30, 2020 are provided below:
The table below provides information on gross gains and gross losses from debt investment securities for the three and six months ended June 30, 2020 and 2019.
The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of June 30, 2020 and December 31, 2019:
For periods subsequent to 2019, FHN has evaluated all AFS debt securities that were in unrealized loss positions in accordance with its accounting policy for recognition of credit losses. No AFS debt securities were determined to have credit losses because the primary cause of the decline in value was attributable to changes in interest rates. Total AIR not included in the fair value or amortized cost basis of AFS debt securities was $12.4 million as of June 30, 2020. Consistent with its review of the related securities, there were no credit-related write downs of AIR for AFS debt securities during the reporting period. Additionally, for AFS 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. Therefore, no write downs of these investments to fair value occurred during the reporting period. For periods prior to 2020, FHN reviewed debt investment securities that were in unrealized loss positions in accordance with its accounting policy for OTTI and did not consider them other-than-temporarily impaired. For debt securities with unrealized losses, FHN did not intend to sell them and it is more-likely-than-not that FHN would not be required to sell them prior to recovery. The decline in value was primarily attributable to changes in interest rates and not credit losses. The carrying amount of equity investments without a readily determinable fair value was $24.7 million and $25.6 million at June 30, 2020 and December 31, 2019, respectively. The year-to-date 2020 and 2019 gross amounts of upward and downward valuation adjustments were not significant. Unrealized gains of $4.8 million and $1.2 million were recognized in the three months ended June 30, 2020 and 2019, respectively, and unrealized losses of $0.9 million and unrealized gains of $4.6 million were recognized in the six months ended June 30, 2020 and 2019, respectively, for equity investments with readily determinable fair values.
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Loans |
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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans | Loans The following table provides the balance (amortized cost basis) of loans, net of unearned income, by portfolio segment as of June 30, 2020 and December 31, 2019:
COMPONENTS OF THE LOAN PORTFOLIO The loan portfolio is disaggregated into segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally determined based on the initial measurement attribute (i.e., amortized cost or purchased credit-impaired), risk characteristics of the loan, and FHN’s method for monitoring and assessing credit risk. Commercial loan portfolio segments include commercial, financial and industrial (“C&I”) and commercial real estate ("CRE"). Commercial classes within C&I include general C&I, loans to mortgage companies ("LMC"), the trust preferred loans (“TRUPS”) (i.e. long-term unsecured loans to bank and insurance-related businesses) portfolio and purchased credit-impaired (“PCI”) loans (for periods prior to 2020). Loans to mortgage companies include commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower’s sale of those mortgage loans to third party investors. Commercial classes within CRE include income CRE, residential CRE and PCI loans (for periods prior to 2020). Consumer loan portfolio segments include consumer real estate, and the credit card and other portfolio. Consumer classes include home equity lines of credit (“HELOCs”), real estate (“R/E”) installment and PCI loans (for periods prior to 2020) within the consumer real estate segment and credit card and other. Credit Risk Characteristics Inherent in the Loan Portfolio Credit risk is the risk of loss due to adverse changes in a borrower’s or counterparty’s ability to meet its financial obligations under agreed upon terms. FHN is subject to credit risk in lending, trading, investing, liquidity/funding, and asset management activities although lending activities have the most exposure to credit risk. The nature and amount of credit risk depends on the types of transaction, the structure of those transactions, collateral received, the use of guarantors and the parties involved. FHN assesses and manages credit risk through a series of policies, processes, measurement systems, and controls. FHN’s credit risk function ensures subject matter experts are providing oversight, support and credit approvals, particularly in the specialty lending areas where industry-specific knowledge is required. Management emphasizes general portfolio servicing such that emerging risks are able to be identified early enough to correct potential deficiencies, prevent further credit deterioration, and mitigate credit losses. Commercial Loans The C&I portfolio is comprised of loans used for general business purposes. Typical products including working capital lines of credit, term loan financing of owner-occupied real estate and fixed assets, and trade credit enhancement through letters of credit. FHN utilizes deal teams comprised of relationship managers (RMs), portfolio managers (PMs), credit analysts and other specialists to identify, mitigate, document, and manage ongoing risk. Their function includes enhanced analytical support during loan origination and servicing, monitoring the financial condition of the borrower, and tracking compliance with loan agreements. FHN strives to identify problem assets early through comprehensive policies and guidelines, targeted portfolio reviews, more frequent servicing on lower rated borrowers, and an emphasis on frequent grading. To the extent a guarantor/sponsor is used to support a commercial lending decision, FHN analyzes capability to pay, factoring in, among other things, liquidity and direct/indirect cash flows. A strong, legally enforceable guaranty can mitigate the risk of default or loss, justify a less severe rating, and consequently reduce the level of allowance or charge-off that might otherwise be deemed appropriate. Loans to mortgage companies include commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower’s sale of those mortgage loans to third party investors. Approximately 95 percent of the loans to mortgage companies are collateralized with government guaranteed loans. The loans are of short duration with maturities less than one year. TRUPS loans are long-term unsecured loans to bank and insurance-related businesses. TRUPS lending was originally extended as a form of “bridge” financing to participants in the pooled trust preferred securitization program offered primarily to smaller banking (generally less than $15 billion in total assets) and insurance institutions through FHN’s fixed income business. Origination of TRUPS lending ceased in early 2008. Individual TRUPS are regraded at least quarterly as part of FHN’s commercial loan review process. Commercial Real Estate loans include financings for commercial construction and nonconstruction loans. The income-producing CRE class contains loans and draws on lines and letters of credit to commercial real estate developers for the construction and mini-permanent financing of income-producing real estate. The residential CRE class includes loans to residential builders and developers for the purpose of constructing single-family homes, condominiums, and town homes and on a limited basis, for developing residential subdivisions. Active residential CRE lending is primarily focused in certain core markets with nearly all new originations made to “strategic” clients. FHN considers a “strategic” residential CRE borrower as a homebuilder who demonstrates the ability to withstand cyclical downturns, maintains active development and investment activities providing for regular financing opportunities, and is fundamentally sound as evidenced by a prudent loan structure, appropriate covenants and recourse, and capable and willing sponsors in markets with positive homebuilding and economic dynamics. The credit administration and ongoing monitoring of these portfolios consists of multiple internal control processes including stressing a borrower’s or project’s financial capacity utilizing numerous attributes such as interest rates, vacancy, and discount rates. Key information captured from the various portfolios is aggregated and utilized to assist with the assessment and adequacy of the ALLL and to steer portfolio management strategies. Paycheck Protection Program Loans Included in commercial loans are $2.1 billion of C&I loans made under the Paycheck Protection Program ("PPP Loans") of the Small Business Administration ("SBA"). PPP Loans have been extended to businesses in response to the economic effects of the COVID-19 pandemic. PPP Loans are fully government guaranteed with the SBA making prepayments through a provision whereby partial or complete forgiveness is granted based on the nature and extent of each borrower's expenditures in relation to program requirements for payroll-related and other types of expenses. PPP Loans have maximum terms ranging from two to five years, with SBA prepayments expected to occur in the latter half of 2020 and the first half of 2021. Amounts not forgiven by the SBA will amortize over the applicable remaining loan term. Due to the government guarantee and forgiveness provisions, PPP Loans are considered to have no credit risk and receive no risk weighting for capital calculations. Consumer Loans The consumer real estate portfolio is primarily comprised of home equity lines and installment loans within FHN’s regional banking segment and jumbo mortgages and one-time-close (“OTC”) completed construction loans in FHN’s non-strategic segment that were originated through pre-2009 mortgage businesses. The corporate segment also includes loans that were previously included in off-balance sheet proprietary securitization trusts that were brought back into the loan portfolios at fair value through the execution of cleanup calls due to the relatively small balances left in the securitization and should continue to run-off. Generally performance of this portfolio is affected by life events that affect borrowers’ finances, the level of unemployment, and home prices. FHN obtains first lien performance information from third parties and through loss mitigation activities. FHN performs continuous HELOC account review processes in order to identify higher-risk home equity lines and initiate preventative and corrective actions. The reviews consider a number of account activity patterns and characteristics such as the number of times delinquent within recent periods, changes in credit bureaus score since origination, scored degradation, performance of the first lien, and account utilization. In accordance with FHN’s interpretation of regulatory guidance, FHN may block future draws on accounts in order to mitigate risk of loss to FHN. The credit card and other portfolio is primarily comprised of automobile loans, credit card receivables, and other consumer-related credits. As discussed in Note 1 - Summary of Significant Accounting Policies, the ALLL estimation process was revised on January 1, 2020 to reflect the adoption of ASU 2016-13. All information contained in the following disclosures reflects the application of requirements from the adoption of ASU 2016-13 for periods after 2019. Information for periods prior to 2020 has been retained with the content consistent with prior disclosures. Concentrations FHN has a concentration of residential real estate loans (19 percent of total loans). Loans to finance and insurance companies total $2.5 billion (12 percent of the C&I portfolio, or 8 percent of the total loans). FHN had loans to mortgage companies totaling $4.0 billion (19 percent of the C&I segment, or 12 percent of total loans) as of June 30, 2020. As a result, 31 percent of the C&I segment is sensitive to impacts on the financial services industry. Asset Quality Indicators FHN employs a dual grade commercial risk grading methodology to assign an estimate for the probability of default (“PD”) and the loss given default (“LGD”) for each commercial loan using factors specific to various industry, portfolio, or product segments that result in a rank ordering of risk and the assignment of grades PD 1 to PD 16. This credit grading system is intended to identify and measure the credit quality of the loan portfolio by analyzing the migration of loans between grading categories. PD grades assigned through FHN’s risk rating process are used as a loan level input to inform probability of default forecasts under certain macroeconomic scenarios. Each PD grade corresponds to an estimated one-year default probability percentage; a PD 1 has the lowest expected default probability, and probabilities increase as grades progress down the scale. PD 1 through PD 12 are “pass” grades. PD grades 13-16 correspond to the regulatory-defined categories of special mention (13), substandard (14), doubtful (15), and loss (16). Pass loan grades are required to be reassessed annually or earlier whenever there has been a material change in the financial condition of the borrower or risk characteristics of the relationship. All commercial loans over $1 million and certain commercial loans over $500,000 that are graded 13 or worse are reassessed on a quarterly basis. Loan grading discipline is regularly reviewed internally by Credit Assurance Services to determine if the process continues to result in accurate loan grading across the portfolio. FHN may utilize availability of guarantors/sponsors to support lending decisions during the credit underwriting process and when determining the assignment of internal loan grades. LGD grades are assigned based on a scale of 1-12 and represent FHN’s expected recovery based on collateral type in the event a loan defaults. See Note 5 – Allowance for Loan Losses for further discussion on the credit grading system. The following tables provide the amortized cost basis of the commercial loan portfolio by year of origination and credit quality indicator as of June 30, 2020:
The following table provides the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of December 31, 2019.
(a) Balances presented net of a $19.1 million valuation allowance. The consumer portfolio is comprised primarily of smaller-balance loans which are very similar in nature in that most are standard products and are backed by residential real estate. Because of the similarities of consumer loan-types, FHN is able to utilize the Fair Isaac Corporation (“FICO”) score, among other attributes, to assess the credit quality of consumer borrowers. FICO scores are refreshed on a quarterly basis in an attempt to reflect the recent risk profile of the borrowers. Accruing delinquency amounts are indicators of asset quality within the credit card and other consumer portfolio. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for consumer real estate as of June 30, 2020. Within consumer real estate, classes include home equity line of credit ("HELOC") and real estate installment. HELOCs are loans which during their draw period are classified as revolving loans. Once the draw period ends and the loan enters its repayment period, the loan converts to a term loan and is classified as revolving loans converted to term loans. All loans classified in the following table as revolving loans or revolving loans converted to term loans are HELOCs. Real estate installment loans are originated as a fixed term loan and are classified below in their vintage year from prior to 2016 to 2020. All loans in the following table classified in a vintage year are real estate installment loans.
(a) $10.8 million of HELOC loans were converted from revolving to term in 2020. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for other consumer loans as of June 30, 2020.
(a) $3.9 million of other consumer loans were converted from revolving to term in 2020. The following table reflects the percentage of balances outstanding by average, refreshed FICO scores for the HELOC and real estate installment classes of loans as of December 31, 2019.
Nonaccrual and Past Due Loans Nonperforming loans are loans placed on nonaccrual if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance due to insufficient collateral value and past due status, or on a case-by-case basis if FHN continues to receive payments but there are other borrower-specific issues. Included in nonaccruals are loans that FHN continues to receive payments including residential real estate loans where the borrower has been discharged of personal obligation through bankruptcy, and second liens, regardless of delinquency status, behind first liens that are 90 or more days past due, are bankruptcies, or are TDRs. Past due loans are loans contractually past due as to interest or principal payments, but which have not yet been put on nonaccrual status. The following table reflects accruing and non-accruing loans by class on June 30, 2020:
(a) $65.3 million of general C&I loans are nonaccrual loans with no related allowance. (b) TRUPS is presented net of an amortizing discount of $18.4 million. The following table reflects accruing and non-accruing loans by class on December 31, 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
Troubled Debt Restructurings As part of FHN’s ongoing risk management practices, FHN attempts to work with borrowers when necessary to extend or modify loan terms to better align with their current ability to repay. Extensions and modifications to loans are made in accordance with internal policies and guidelines which conform to regulatory guidance. Each occurrence is unique to the borrower and is evaluated separately. A modification is classified as a TDR if the borrower is experiencing financial difficulty and it is determined that FHN has granted a concession to the borrower. FHN may determine that a borrower is experiencing financial difficulty if the borrower is currently in default on any of its debt, or if it is probable that a borrower may default in the foreseeable future. Many aspects of a borrower’s financial situation are assessed when determining whether they are experiencing financial difficulty. Concessions could include extension of the maturity date, reductions of the interest rate (which may make the rate lower than current market for a new loan with similar risk), reduction or forgiveness of accrued interest, or principal forgiveness. The assessments of whether a borrower is experiencing (or is likely to experience) financial difficulty, and whether a concession has been granted, are subjective in nature and management’s judgment is required when determining whether a modification is classified as a TDR. For all classes within the commercial portfolio segment, TDRs are typically modified through forbearance agreements (generally 6 to 12 months). Forbearance agreements could include reduced interest rates, reduced payments, release of guarantor, or entering into short sale agreements. FHN’s proprietary modification programs for consumer loans are generally structured using parameters of U.S. government-sponsored programs such as the former Home Affordable Modification Program (“HAMP”). Within the HELOC and R/E installment loans classes of the consumer portfolio segment, TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 1 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt-to-income ratio. After 5 years, the interest rate generally returns to the original interest rate prior to modification; for certain modifications, the modified interest rate increases 2 percent per year until the original interest rate prior to modification is achieved. Prior to 2020, Consumer real estate mortgage TDRs (previously classified as permanent mortgage) were typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 2 percent for up to 5 years) and a possible maturity date extension to reach an affordable housing debt-to-income ratio. After 5 years, the interest rate stepped up 1 percent every year until it reached the Federal Home Loan Mortgage Corporation Weekly Survey Rate cap. Contractual maturities may be extended to 40 years for consumer real estate loans. Within the credit card class of the consumer portfolio segment, TDRs are typically modified through either a short-term credit card hardship program or a longer-term credit card workout program. In the credit card hardship program, borrowers may be granted rate and payment reductions for 6 months to 1 year. In the credit card workout program, customers are granted a rate reduction to 0 percent and term extensions for up to 5 years to pay off the remaining balance. Despite the absence of a loan modification, the discharge of personal liability through bankruptcy proceedings is considered a concession. As a result, FHN classifies all non-reaffirmed residential real estate loans discharged in Chapter 7 bankruptcy as nonaccruing TDRs. On June 30, 2020 and December 31, 2019, FHN had $192.6 million and $206.3 million of portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had loan loss reserves of $13.6 million, or 7 percent as of June 30, 2020, and $19.7 million, or 10 percent as of December 31, 2019. Additionally, $45.1 million and $51.1 million of loans held-for-sale as of June 30, 2020 and December 31, 2019, respectively, were classified as TDRs. The following tables reflect portfolio loans that were classified as TDRs during the three and six months ended June 30, 2020 and 2019:
The following tables present TDRs which re-defaulted during the three and six months ended June 30, 2020 and 2019, and as to which the modification occurred 12 months or less prior to the re-default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due.
Accrued Interest In accordance with its accounting policy elections, FHN has excluded AIR from the amortized cost basis of Loans, net of unearned income. AIR is included within Other assets in the Consolidated Condensed Statements of Condition and the amounts by portfolio segment are presented in the following table.
Purchased Credit-Impaired Loans The following table presents a rollforward of the accretable yield for the year ended December 31, 2019:
At December 31, 2019, the ALLL related to PCI loans was $2.0 million. Net charge-offs related to PCI loans during 2019 were $5.8 million. The loan loss provision expense related to PCI loans during 2019 was $1.3 million. The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of December 31, 2019:
Impaired Loans The following tables provide information at December 31, 2019 by class related to individually impaired loans and consumer TDRs, regardless of accrual status. Recorded investment is defined as the amount of the investment in a loan, excluding any valuation allowance but including any direct write-down of the investment. For purposes of this disclosure, TRUPS valuation allowance has been excluded.
(a) All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance.
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| Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Loan Losses | Allowance for Loan Losses As discussed in Note 1 - Summary of Significant Accounting Policies, the ALLL estimation process was revised on January 1, 2020 to reflect the adoption of ASU 2016-13. All information contained in the following disclosures reflects the application of requirements from the adoption of ASU 2016-13 for periods after 2019. Information for periods prior to 2020 has been retained with the content consistent with prior disclosures. Periods after 2019 The ALLL has been determined in accordance with ASC 326-20, which requires a recognition of current expected credit losses on the amortized cost basis of loans. During the first half of 2020, expected credit loss estimates were adversely affected across all portfolio segments due to the steep decline in macroeconomic forecasts due to the actual and projected effects of the COVID-19 pandemic. To a lesser extent, loan growth also resulted in a higher ALLL as those increased balances received a full life-of-loan allowance based on current macroeconomic projections. For all portfolio segments, FHN has selected a 4-year reasonable and supportable forecast period which reflects a 3-year period during which macroeconomic variables are used to estimate expected credit losses. This is followed by a 1-year, time-weighted reversion to historical loss factors with weights assigned to macroeconomic variables diminishing, and weights assigned to historical loss averages increasing, pro rata as months lapse during the 1-year period. Thereafter, FHN immediately reverts to historical loss averages over the remaining estimated life of loans. In developing credit loss estimates for its loan portfolio, FHN evaluated multiple macroeconomic forecasts provided by Moody’s. FHN selected Moody’s baseline forecast as the primary source for its macroeconomic inputs which are inclusive of the following assumptions related to the economic effects of the COVID-19 pandemic:
Where macroeconomic forecast variables used in the models do not take into effect the impact of federal stimulus and bank-supported payment deferral and forbearance programs on the timing of grade migration and recognition of loss content, management adjusted model inputs qualitatively to account for this assistance. FHN also utilized targeted reviews of higher stressed loan portfolio (industries) that are most exposed to the effects of the COVID-19 pandemic, including Franchise Finance, Energy, Non-Profit, Arts & Entertainment, Restaurants outside of Franchise Finance, Nursing/Assisted Living and Hospitality within the C&I segment and CRE-Hospitality and CRE-Retail within the Commercial Real Estate segment. This analysis reviewed the level of impact from COVID-19 and the likelihood of additional financial assistance needed beyond 180 days. This analysis was utilized in developing qualitative adjustments to increase the recorded ALLL attributable to these components beyond the modeled results. FHN reviewed consumer deferrals and forbearance payment rates to analyze the likelihood customers will have difficulty making payments after the deferral or forbearance period ends. The analysis was utilized to develop an additional qualitative adjustment to increase the recorded ALLL for consumer real estate loans. Management also made qualitative adjustments to reflect estimated recoveries based on a review of prior charge off and recovery levels, for default risk associated with large balances with individual borrowers, for estimated loss amounts not reflected in historical factors due to specific portfolio risk and for instances where limited data for acquired loans is considered to affect modeled results. Typically commercial loans in C&I and CRE have shorter expected lives, based on the contractual term of loan agreements, prepayment estimates and a limited amount of renewal or extension options that are not unconditionally cancellable by FHN. Estimated weighted average lives are normally under 3 years. TRUPs loans are an exception due to longer contractual lives, beneficial borrower terms and balloon payoff structure. Consumer HELOC and installment loans tend to have significantly longer lives based on their contractual terms which is reduced somewhat by estimated prepayments with estimated weighted average lives normally 5 years or less. Credit card loans have shorter estimated lives approximating 1 year based on customer payment trends and because the revolving lines are unconditionally cancellable by FHN. As of June 30, 2020, FHN had General C&I loans with amortized cost of approximately $65 million that was based on the value of underlying collateral. At a minimum, the estimated value of the collateral for each loan equals the current book value. The collateral for these loans generally consists of business assets including land, buildings, equipment and financial assets. During the three and six months ended June 30, 2020, respectively, FHN recognized charge-offs of approximately $1.5 million and $13.0 million on these loans related to reductions in estimated collateral values. Consumer HELOC and installment loans with amortized cost based on the value of underlying real estate collateral were approximately $10 million and $26 million, respectively, as of June 30, 2020. At a minimum, the estimated value of the collateral for each loan equals the current book value. Charge offs during the three and six months ended June 30, 2020 were not significant for either portfolio segment. Unfunded Commitments The measurement of expected credit losses for unfunded commitments mirrors that of loans with the additional estimate of future draw rates (timing and amount). Consistent with the ALLL, the decline in macroeconomic forecasts during the first half of 2020 resulted in higher credit expense for unfunded commitments. However, in Q1 2020 this effect of higher loss forecasts was offset somewhat because many borrowers drew on available lines prior to the end of the 1st quarter which resulted in higher loan balances (and ALLL). During the second quarter, borrowers paid down on available lines which combined with higher loss rates caused credit loss expense to increase. Total credit loss expense for unfunded commitments was $11.2 million and $20.4 million, respectively, for the three and six months ended June 30, 2020. Periods prior to 2020 The ALLL included the following components: reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous consumer loans, both determined in accordance with ASC 450-20-50, and to a lesser extent, reserves determined in accordance with ASC 310-10-35 for loans determined by management to be individually impaired and an allowance associated with PCI loans. For commercial loans, ASC 450-20-50 reserves were established using historical net loss factors by grade level, loan product, and business segment. The ALLL for smaller-balance homogeneous consumer loans was determined based on pools of similar loan types that have similar credit risk characteristics. ASC 450-20-50 reserves for the consumer portfolio were determined using segmented roll-rate models that incorporated various factors including historical delinquency trends, experienced loss frequencies, and experienced loss severities. Generally, reserves for consumer loans reflected inherent losses in the portfolio that were expected to be recognized over the following twelve months. The historical net loss factors for both commercial and consumer ASC 450-20-50 reserve models were subject to qualitative adjustments by management to reflect current events, trends, and conditions (including economic considerations and trends), which were not fully captured in the historical net loss factors. The pace of the economic recovery, performance of the housing market, unemployment levels, labor participation rate, the regulatory environment, regulatory guidance, and portfolio segment-specific trends, were examples of additional factors considered by management in determining the ALLL. Additionally, management considered the inherent uncertainty of quantitative models that were driven by historical loss data. Management evaluated the periods of historical losses that were the basis for the loss rates used in the quantitative models and selected historical loss periods that were believed to be the most reflective of losses inherent in the loan portfolio as of the balance sheet date. Management also periodically reviewed an analysis of the loss emergence period which was the amount of time required for a loss to be confirmed (initial charge-off) after a loss event had occurred. FHN performed extensive studies related to the historical loss periods used in the model and the loss emergence period and model assumptions were adjusted accordingly. Impairment related to individually impaired loans was measured in accordance with ASC 310-10. For all commercial portfolio segments, commercial TDRs and other individually impaired commercial loans were measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value (collateral value less estimated costs to sell). Impaired loans also included consumer TDRs. Generally, the allowance for TDRs in all consumer portfolio segments was determined by estimating the expected future cash flows using the modified interest rate (if an interest rate concession), incorporating payoff and net charge-off rates specific to the TDRs within the portfolio segment being assessed, and discounted using the pre-modification interest rate. The discount rates of variable rate TDRs were adjusted to reflect changes in the interest rate index to which the rates are tied. The discounted cash flows were then compared to the outstanding principal balance in order to determine required reserves. Residential real estate loans discharged through bankruptcy were considered collateral-dependent and were charged down to net realizable value (collateral value less estimated costs to sell). The following table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2020 and 2019:
a) In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. b) C&I loans as of June 30, 2020 include $2.1 billion in PPP loans which due to the government guarantee and forgiveness provisions are considered to have no credit risk and therefore have no allowance for loan losses. In accordance with its accounting policy elections, FHN does not recognize a separate allowance for expected credit losses for AIR and records reversals of AIR as reductions of interest income. FHN reverses previously accrued but uncollected interest when an asset is placed on nonaccrual status. As of June 30, 2020, FHN recognized approximately $860 thousand in allowance for expected credit losses on COVID-19 deferrals that do not qualify for the election. The total amount of interest reversals from loans placed on nonaccrual status during the three and six months ended June 30, 2020 was not material. In addition, the amount of income recognized on nonaccrual loans for the three and six months ended in June 30, 2020 was not material.
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Intangible Assets |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | Intangible Assets The following is a summary of other intangible assets included in the Consolidated Condensed Statements of Condition:
Amortization expense was $5.3 million and $6.2 million for the three months ended June 30, 2020 and 2019, respectively and $10.6 million and $12.4 million for six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020 the estimated aggregated amortization expense is expected to be:
Gross goodwill, accumulated impairments, and accumulated divestiture related write-offs were determined beginning January 1, 2002, when a change in accounting requirements resulted in goodwill being assessed for impairment rather than being amortized. Gross goodwill of $200.0 million with accumulated impairments and accumulated divestiture-related write-offs of $114.1 million and $85.9 million, respectively, were previously allocated to the non-strategic segment, resulting in $0 net goodwill allocated to the non-strategic segment as of June 30, 2020 and December 31, 2019. The regional banking and fixed income segments do not have any accumulated impairments or divestiture related write-offs. The following is a summary of goodwill by reportable segment included in the Consolidated Condensed Statements of Condition as of June 30, 2020 and December 31, 2019.
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Other Income And Other Expense |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income And Other Expense | Other Income and Other Expense Following is detail of All other income and commissions and All other expense as presented in the Consolidated Condensed Statements of Income:
Certain previously reported amounts have been reclassified to agree with current presentation.
(c) Litigation and regulatory matters for the three and six months ended June 30, 2019 includes an $8.3 million expense reversal related to the settlement of litigation matters within the Non-Strategic segment.
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Components of Other Comprehensive Income/(loss) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Other Comprehensive Income/(loss) | Components of Other Comprehensive Income/(loss) The following table provides the changes in accumulated other comprehensive income/(loss) by component, net of tax, for the three and six months ended June 30, 2020 and 2019:
Reclassifications from AOCI, and related tax effects, were as follows:
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Earnings Per Share |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share | Earnings Per Share The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding:
The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met:
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Contingencies And Other Disclosures |
6 Months Ended |
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Jun. 30, 2020 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Contingencies and Other Disclosures | Contingencies and Other Disclosures CONTINGENCIES Contingent Liabilities Overview Contingent liabilities arise in the ordinary course of business. Often they are related to lawsuits, arbitration, mediation, and other forms of litigation. Various litigation matters are threatened or pending against FHN and its subsidiaries. Also, FHN at times receives requests for information, subpoenas, or other inquiries from federal, state, and local regulators, from other government authorities, and from other parties concerning various matters relating to FHN’s current or former businesses. Certain matters of that sort are pending at this time, and FHN is cooperating in those matters. Pending and threatened litigation matters sometimes are settled by the parties, and sometimes pending matters are resolved in court or before an arbitrator. Regardless of the manner of resolution, frequently the most significant changes in status of a matter occur over a short time period, often following a lengthy period of little substantive activity. In view of the inherent difficulty of predicting the outcome of these matters, particularly where the claimants seek very large or indeterminate damages, or where the cases present novel legal theories or involve a large number of parties, or where claims or other actions may be possible but have not been brought, FHN cannot reasonably determine what the eventual outcome of the matters will be, what the timing of the ultimate resolution of these matters may be, or what the eventual loss or impact related to each matter may be. FHN establishes a loss contingency liability for a litigation matter when loss is both probable and reasonably estimable as prescribed by applicable financial accounting guidance. If loss for a matter is probable and a range of possible loss outcomes is the best estimate available, accounting guidance requires a liability to be established at the low end of the range. Based on current knowledge, and after consultation with counsel, management is of the opinion that loss contingencies related to threatened or pending litigation matters should not have a material adverse effect on the consolidated financial condition of FHN, but may be material to FHN’s operating results for any particular reporting period depending, in part, on the results from that period. Material Loss Contingency Matters Summary As used in this Note, except for matters that are reported as having been substantially settled or otherwise substantially resolved, FHN's “material loss contingency matters” generally fall into at least one of the following categories: (i) FHN has determined material loss to be probable and has established a material loss liability in accordance with applicable financial accounting guidance; (ii) FHN has determined material loss to be probable but is not reasonably able to estimate an amount or range of material loss liability; or (iii) FHN has determined that material loss is not probable but is reasonably possible, and that the amount or range of that reasonably possible material loss is estimable. As defined in applicable accounting guidance, loss is reasonably possible if there is more than a remote chance of a material loss outcome for FHN. Set forth below are disclosures for certain pending or threatened litigation matters, including all matters mentioned in (i) or (ii) and certain matters mentioned in (iii). In addition, certain other types of matters are discussed relating to FHN’s pre-2009 mortgage origination and servicing businesses. In all litigation matters discussed, unless settled or otherwise resolved, FHN believes it has meritorious defenses and intends to pursue those defenses vigorously. FHN reassesses the liability for litigation matters each quarter as the matters progress. At June 30, 2020, the aggregate amount of liabilities established for all such loss contingency matters was $.3 million. These liabilities are separate from those discussed under the heading “Loan Repurchase and Foreclosure Liability” below. In each material loss contingency matter, except as otherwise noted, there is more than a remote chance that any of the following outcomes will occur: the plaintiff will substantially prevail; the defense will substantially prevail; the plaintiff will prevail in part; or the matter will be settled by the parties. At June 30, 2020, FHN is unable to estimate any material reasonably possible loss ("RPL") for contingency matters in future periods in excess of currently established liabilities. As a result of the general uncertainties discussed above and the specific uncertainties discussed for each matter mentioned below, it is possible that the ultimate future loss experienced by FHN for any particular matter may materially exceed the amount, if any, of currently established liability for that matter. Material Matters In the first quarter of 2020, a former shareholder of Capital Bank Financial Corp. ("CBF") filed a putative class action suit, Searles v. DeMartini et al, No. 2020-0136 (Del. Chancery), against certain former directors, officers, and shareholders of CBF, alleging, among other things, that defendants breached certain fiduciary duties in connection with CBF's merger with FHN in 2017. Plaintiff claims unspecified damages related to the merger consideration and opportunity loss. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regarding: whether a class will be certified and, if so, the composition of the class; the amount of potential damages that might be awarded, if any; of any such damages amount, the amount that FHN would be obliged to indemnify; the availability of applicable insurance; and the outcome of discovery, which has not yet begun. Exposures from pre-2009 Mortgage Business FHN is contending with indemnification claims related to "other whole loans sold," which were mortgage loans originated by FHN before 2009 and sold outside of an FHN securitization. These claims generally assert that FHN-originated loans contributed to losses in connection with mortgage loans securitized by the buyer of the loans. The claims generally do not include specific deficiencies for specific loans sold by FHN. Instead, the claims generally assert that FHN is liable for a share of the claimant's loss estimated by assessing the totality of the other whole loans sold by FHN to claimant in relation to the totality of the larger number of loans securitized by claimant. FHN is unable to estimate an RPL range for these matters due to significant uncertainties regarding: the number of, and the facts underlying, the loan originations which claimants assert are indemnifiable; the applicability of FHN’s contractual indemnity covenants to those facts and originations; and, in those cases where an indemnity claim may be supported, whether any legal defenses, counterclaims, other counter-positions, or third-party claims might eliminate or reduce claims against FHN or their impact on FHN. FHN also is contending with indemnification claims related to servicing obligations. The most significant is from Nationstar Mortgage LLC, currently doing business as “Mr. Cooper.” Nationstar was the purchaser of FHN’s mortgage servicing obligations and assets in 2013 and 2014 and, starting in 2011 until April 2020, was FHN’s subservicer. Nationstar asserts several categories of indemnity obligations in connection with mortgage loans under the subservicing arrangement and under the purchase transaction. This matter currently is not in litigation, but litigation in the future is possible. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regarding: the exact nature of each of Nationstar’s claims and its position in respect of each; the number of, and the facts underlying, the claimed instances of indemnifiable events; the applicability of FHN’s contractual indemnity covenants to those facts and events; and, in those cases where the facts and events might support an indemnity claim, whether any legal defenses, counterclaims, other counter-positions, or third-party claims might eliminate or reduce claims against FHN or their impact on FHN. FHN has additional potential exposures related to its pre-2009 mortgage businesses. A few of those matters have become litigation which FHN currently estimates are immaterial, some are non-litigation claims or threats, some are mere subpoenas or other requests for information, and in some areas FHN has no indication of any active or threatened dispute. Some of those matters might eventually result in settlements, and some might eventually result in adverse litigation outcomes, but none are included in the material loss contingency liabilities mentioned above or in the RPL range mentioned above. Mortgage Loan Repurchase and Foreclosure Liability FHN’s repurchase and foreclosure liability, primarily related to its pre-2009 mortgage businesses, is comprised of accruals to cover estimated loss content in the active pipeline (consisting of mortgage loan repurchase, make-whole, foreclosure/servicing demands and certain related exposures), estimated future inflows, and estimated loss content related to certain known claims not currently included in the active pipeline. FHN compares the estimated probable incurred losses determined under the applicable loss estimation approaches for the respective periods with current reserve levels. Changes in the estimated required liability levels are recorded as necessary through the repurchase and foreclosure provision. Based on currently available information and experience to date, FHN has evaluated its loan repurchase, make-whole, foreclosure, and certain related exposures and has accrued for losses of $12.9 million and $14.5 million as of June 30, 2020 and December 31, 2019, respectively. Accrued liabilities for FHN’s estimate of these obligations are reflected in Other liabilities on the Consolidated Condensed Statements of Condition. Charges/expense reversals to increase/decrease the liability are included within Repurchase and foreclosure provision/(provision credit) on the Consolidated Condensed Statements of Income. The estimates are based upon currently available information and fact patterns that exist as of each balance sheet date and could be subject to future changes. Changes to any one of these factors could significantly impact the estimate of FHN’s liability. OTHER DISCLOSURES Indemnification Agreements and Guarantees In the ordinary course of business, FHN enters into indemnification agreements for legal proceedings against its directors and officers and standard representations and warranties for underwriting agreements, merger and acquisition agreements, loan sales, contractual commitments, and various other business transactions or arrangements. The extent of FHN’s obligations under these agreements depends upon the occurrence of future events; therefore, it is not possible to estimate a maximum potential amount of payouts that could be required by such agreements.
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Pension, Savings, And Other Employee Benefits |
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| Pension, Savings, and Other Employee Benefits | Pension, Savings, and Other Employee Benefits Pension plan. FHN sponsors a noncontributory, qualified defined benefit pension plan to employees hired or re-hired on or before September 1, 2007. Pension benefits are based on years of service, average compensation near retirement or other termination, and estimated social security benefits at age 65. Benefits under the plan are “frozen” so that years of service and compensation changes after 2012 do not affect the benefit owed. Minimum contributions are based upon actuarially determined amounts necessary to fund the total benefit obligation. Decisions to contribute to the plan are based upon pension funding requirements under the Pension Protection Act, the maximum amount deductible under the Internal Revenue Code, the actual performance of plan assets, and trends in the regulatory environment. FHN made no contributions to the qualified pension plan in 2019. Management does not currently anticipate that FHN will make a contribution to the qualified pension plan for the remainder of 2020. FHN also maintains non-qualified plans including a supplemental retirement plan that covers certain employees whose benefits under the qualified pension plan have been limited by tax rules. These other non-qualified plans are unfunded, and contributions to these plans cover all benefits paid under the non-qualified plans. Payments made under the non-qualified plans were $5.2 million for 2019. FHN anticipates making benefit payments under the non-qualified plans of $5.2 million in 2020. Savings plan. FHN provides all qualifying full-time employees with the opportunity to participate in FHN's tax qualified 401(k) savings plan. The qualified plan allows employees to defer receipt of earned salary, up to tax law limits, on a tax-advantaged basis. Accounts, which are held in trust, may be invested in a wide range of mutual funds and in FHN common stock. Up to tax law limits, FHN provides a 100 percent match for the first 6 percent of salary deferred, with company matching contributions invested according to a participant’s current investment election. Through a non-qualified savings restoration plan, FHN provides a restorative benefit to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. Other employee benefits. FHN provides postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees. The postretirement medical plan is contributory with FHN contributing a fixed amount for certain participants. FHN’s postretirement benefits include certain prescription drug benefits. Service cost is included in Employee compensation, incentives, and benefits in the Consolidated Condensed Statements of Income. All other components of net periodic benefit cost are included in All other expense. The components of net periodic benefit cost for the three months ended June 30 are as follows:
The components of net periodic benefit cost for the six months ended June 30 are as follows:
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Business Segment Information |
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| Segment Reporting, Measurement Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Segment Information | Business Segment Information FHN has four business segments: regional banking, fixed income, corporate, and non-strategic. The regional banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial customers in the southeast U.S. and other selected markets. Regional banking also provides investments, wealth management, financial planning, trust services and asset management, mortgage banking, credit card, and cash management. Additionally, the regional banking segment includes correspondent banking which provides credit, depository, and other banking related services to other financial institutions nationally. The fixed income segment consists of fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales. The corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, derivative valuation adjustments related to prior sales of Visa Class B shares, gain/(loss) on extinguishment of debt, acquisition- and integration-related costs, expenses associated with rebranding initiatives, and various charges related to restructuring, repositioning, and efficiency efforts. The non-strategic segment consists of run-off consumer lending activities, pre-2009 mortgage banking elements, and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses. Periodically, FHN adapts its segments to reflect managerial or strategic changes. FHN may also modify its methodology of allocating expenses and equity among segments which could change historical segment results. Business segment revenue, expense, asset, and equity levels reflect those which are specifically identifiable or which are allocated based on an internal allocation method. Because the allocations are based on internally developed assignments and allocations, to an extent they are subjective. Generally, all assignments and allocations have been consistently applied for all periods presented. The following table reflects the amounts of consolidated revenue, expense, tax, and average assets for each segment for the three and six months ended June 30:
The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended June 30, 2020 and 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
Codification ("ASC") 606, "Revenue From Contracts With Customers."
total non-interest income.
606. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the six months ended June 30, 2020 and 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
Codification ("ASC") 606, "Revenue From Contracts With Customers."
total non-interest income.
606.
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Variable Interest Entities |
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| Variable Interest Entities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Variable Interest Entities | Variable Interest Entities ASC 810 defines a VIE as a legal entity where (a) the equity investors, as a group, lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support, (b) the equity investors, as a group, lack either, (1) the power through voting rights, or similar rights, to direct the activities of an entity that most significantly impact the entity’s economic performance, (2) the obligation to absorb the expected losses of the entity, or (3) the right to receive the expected residual returns of the entity, or (c) the entity is structured with non-substantive voting rights. A variable interest is a contractual ownership or other interest that fluctuates with changes in the fair value of the VIE’s net assets exclusive of variable interests. Under ASC 810, as amended, a primary beneficiary is required to consolidate a VIE when it has a variable interest in a VIE that provides it with a controlling financial interest. For such purposes, the determination of whether a controlling financial interest exists is based on whether a single party has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant. Consolidated Variable Interest Entities FHN has established certain rabbi trusts related to deferred compensation plans offered to its employees. FHN contributes employee cash compensation deferrals to the trusts and directs the underlying investments made by the trusts. The assets of these trusts are available to FHN’s creditors only in the event that FHN becomes insolvent. These trusts are considered VIEs as there is no equity at risk in the trusts since FHN provided the equity interest to its employees in exchange for services rendered. FHN is considered the primary beneficiary of the rabbi trusts as it has the power to direct the activities that most significantly impact the economic performance of the rabbi trusts through its ability to direct the underlying investments made by the trusts. Additionally, FHN could potentially receive benefits or absorb losses that are significant to the trusts due to its right to receive any asset values in excess of liability payoffs and its obligation to fund any liabilities to employees that are in excess of a rabbi trust’s assets. The following table summarizes the carrying value of assets and liabilities associated with rabbi trusts used for deferred compensation plans which are consolidated by FHN as of June 30, 2020 and December 31, 2019:
Nonconsolidated Variable Interest Entities Low Income Housing Partnerships. First Horizon Community Investment Group, Inc. ("FHCIG"), a wholly-owned subsidiary of First Horizon Bank, makes equity investments as a limited partner in various partnerships that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital and to support FHN’s community reinvestment initiatives. The activities of the limited partnerships include the identification, development, and operation of multi-family housing units that are leased to qualifying residential tenants generally within FHN’s primary geographic region. LIHTC partnerships are considered VIEs as FHCIG, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. FHCIG could absorb losses that are significant to the LIHTC partnerships as it has a risk of loss for its capital contributions and funding commitments to each partnership. The general partners are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the entities’ economic performance and the managing members are exposed to all losses beyond FHCIG’s initial capital contributions and funding commitments. FHN accounts for all qualifying LIHTC investments under the proportional amortization method. Under this method an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense/ (benefit). LIHTC investments that do not qualify for the proportional amortization method are accounted for using the equity method. Expenses associated with these investments were not material for the three or six months ended June 30, 2020 and 2019. The following table summarizes the impact to the Provision/(benefit) for income taxes on the Consolidated Condensed Statements of Income for the three and six months ended June 30, 2020, and 2019 for LIHTC investments accounted for under the proportional amortization method.
Other Tax Credit Investments. First Tennessee New Markets Corporation (“FTNMC”), a wholly-owned subsidiary of First Horizon Bank, periodically makes equity investments through wholly-owned subsidiaries as a non-managing member in various limited liability companies (“LLCs”) that sponsor community development projects utilizing the New Market Tax Credit (“NMTC”) pursuant to Section 45 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital and to support FHN’s community reinvestment initiatives. The activities of the LLCs include providing investment capital for low-income communities within FHN’s primary geographic region. A portion of the funding of FTNMC’s investment in a NMTC LLC is obtained via a loan from an unrelated third-party that is typically a community development enterprise. The NMTC LLCs are considered VIEs as FTNMC, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. While FTNMC could absorb losses that are significant to the NMTC LLCs as it has a risk of loss for its initial capital contributions, the managing members are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the NMTC LLCs’ economic performance and the managing members are exposed to all losses beyond FTNMC’s initial capital contributions. FHCIG also makes equity investments as a limited partner or non-managing member in entities that receive Historic Tax Credits pursuant to Section 47 of the Internal Revenue Code. As of June 30, 2020 and December 31, 2019, there were no investments funded through loans from community development enterprises. The purpose of these entities is the rehabilitation of historic buildings with the tax credits provided to incent private investment in the historic cores of cities and towns. These entities are considered VIEs as FHCIG, the holder of the equity investment at risk, does not have the ability to direct the activities that most significantly affect the performance of the entity through voting rights or similar rights. FHCIG could absorb losses that are significant to the entities as it has a risk of loss for its capital contributions and funding commitments to each partnership. The managing members are considered the primary beneficiaries as managerial functions give them the power to direct the activities that most significantly impact the entities’ economic performance and the managing members are exposed to all losses beyond FHCIG’s initial capital contributions and funding commitments. Small Issuer Trust Preferred Holdings. First Horizon Bank holds variable interests in trusts which have issued mandatorily redeemable preferred capital securities (“trust preferreds”) for smaller banking and insurance enterprises. First Horizon Bank has no voting rights for the trusts’ activities. The trusts’ only assets are junior subordinated debentures of the issuing enterprises. The creditors of the trusts hold no recourse to the assets of First Horizon Bank. These trusts meet the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. Based on the nature of the trusts’ activities and the size of First Horizon Bank’s holdings, First Horizon Bank could potentially receive benefits or absorb losses that are significant to the trusts regardless of whether a majority of a trust’s securities are held by First Horizon Bank. However, since First Horizon Bank is solely a holder of the trusts’ securities, it has no rights which would give it the power to direct the activities that most significantly impact the trusts’ economic performance and thus it is not considered the primary beneficiary of the trusts. First Horizon Bank has no contractual requirements to provide financial support to the trusts. On-Balance Sheet Trust Preferred Securitization. In 2007, First Horizon Bank executed a securitization of certain small issuer trust preferreds for which the underlying trust meets the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entity’s economic performance. First Horizon Bank could potentially receive benefits or absorb losses that are significant to the trust based on the size and priority of the interests it retained in the securities issued by the trust. However, since First Horizon Bank did not retain servicing or other decision making rights, First Horizon Bank is not the primary beneficiary as it does not have the power to direct the activities that most significantly impact the trust’s economic performance. Accordingly, First Horizon Bank has accounted for the funds received through the securitization as a term borrowing in its Consolidated Condensed Statements of Condition. First Horizon Bank has no contractual requirements to provide financial support to the trust. Proprietary Residential Mortgage Securitizations. FHN holds variable interests (primarily principal-only strips) in proprietary residential mortgage securitization trusts it established prior to 2008 as a source of liquidity for its mortgage banking operations. Except for recourse due to breaches of representations and warranties made by FHN in connection with the sale of the loans to the trusts, the creditors of the trusts hold no recourse to the assets of FHN. Additionally, FHN has no contractual requirements to provide financial support to the trusts. Based on their restrictive nature, the trusts are considered VIEs as the holders of equity at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the trusts’ economic performance. However, FHN did not have the ability to participate in significant portions of a securitization trust’s cash flows and FHN was not considered the primary beneficiary of the trust. Therefore, these trusts were not consolidated by FHN. Holdings in Agency Mortgage-Backed Securities. FHN holds securities issued by various Agency securitization trusts. Based on their restrictive nature, the trusts meet the definition of a VIE since the holders of the equity investments at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entities’ economic performance. FHN could potentially receive benefits or absorb losses that are significant to the trusts based on the nature of the trusts’ activities and the size of FHN’s holdings. However, FHN is solely a holder of the trusts’ securities and does not have the power to direct the activities that most significantly impact the trusts’ economic performance, and is not considered the primary beneficiary of the trusts. FHN has no contractual requirements to provide financial support to the trusts. Commercial Loan Troubled Debt Restructurings. For certain troubled commercial loans, First Horizon Bank restructures the terms of the borrower’s debt in an effort to increase the probability of receipt of amounts contractually due. Following a troubled debt restructuring, the borrower entity typically meets the definition of a VIE as the initial determination of whether an entity is a VIE must be reconsidered as events have proven that the entity’s equity is not sufficient to permit it to finance its activities without additional subordinated financial support or a restructuring of the terms of its financing. As First Horizon Bank does not have the power to direct the activities that most significantly impact such troubled commercial borrowers’ operations, it is not considered the primary beneficiary even in situations where, based on the size of the financing provided, First Horizon Bank is exposed to potentially significant benefits and losses of the borrowing entity. First Horizon Bank has no contractual requirements to provide financial support to the borrowing entities beyond certain funding commitments established upon restructuring of the terms of the debt that allows for preparation of the underlying collateral for sale. Sale Leaseback Transaction. First Horizon Bank has entered into an agreement with a single asset leasing entity for the sale and leaseback of an office building. In conjunction with this transaction, First Horizon Bank loaned funds to a related party of the buyer that were used for the purchase price of the building. First Horizon Bank also entered into a construction loan agreement with the single asset entity for renovation of the building. Since this transaction did not qualify as a sale prior to 2019, it was accounted for using the deposit method which created a net asset or liability for all cash flows between First Horizon Bank and the buyer. Upon adoption of ASU 2016-02 the transaction qualified as a seller-financed sale-leaseback. The buyer-lessor in this transaction meets the definition of a VIE as it does not have sufficient equity at risk since First Horizon Bank is providing the funding for the purchase and renovation. A related party of the buyer-lessor has the power to direct the activities that most significantly impact the operations and could potentially receive benefits or absorb losses that are significant to the transactions, making it the primary beneficiary. Therefore, First Horizon Bank does not consolidate the leasing entity. Proprietary Trust Preferred Issuances. In conjunction with the acquisition of CBF, FHN acquired junior subordinated debt underlying multiple issuances of trust preferred debt by institutions previously acquired by CBF. All of the remaining trusts are considered VIEs because the ownership interests from the capital contributions to these trusts are not considered “at risk” in evaluating whether the holders of the equity investments at risk in the trusts have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entities’ economic performance. Thus, FHN cannot be the trusts’ primary beneficiary because its ownership interests in the trusts are not considered variable interests as they are not considered “at risk”. Consequently, none of the trusts are consolidated by FHN. The following table summarizes FHN’s nonconsolidated VIEs as of June 30, 2020:
The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2019:
(i) No exposure to loss due to nature of FHN's involvement.
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Derivatives |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives | Derivatives In the normal course of business, FHN utilizes various financial instruments (including derivative contracts and credit-related agreements) through its fixed income and risk management operations, as part of its risk management strategy and as a means to meet customers’ needs. Derivative instruments are subject to credit and market risks in excess of the amount recorded on the balance sheet as required by GAAP. The contractual or notional amounts of these financial instruments do not necessarily represent the amount of credit or market risk. However, they can be used to measure the extent of involvement in various types of financial instruments. Controls and monitoring procedures for these instruments have been established and are routinely reevaluated. The Asset/Liability Committee (“ALCO”) controls, coordinates, and monitors the usage and effectiveness of these financial instruments. Credit risk represents the potential loss that may occur if a party to a transaction fails to perform according to the terms of the contract. The measure of credit exposure is the replacement cost of contracts with a positive fair value. FHN manages credit risk by entering into financial instrument transactions through national exchanges, primary dealers or approved counterparties, and by using mutual margining and master netting agreements whenever possible to limit potential exposure. FHN also maintains collateral posting requirements with certain counterparties to limit credit risk. Daily margin posted or received with central clearinghouses is considered a legal settlement of the related derivative contracts which results in a net presentation for each contract in the Consolidated Condensed Statements of Condition. Treatment of daily margin as a settlement has no effect on hedge accounting or gains/losses for the applicable derivative contracts. On June 30, 2020 and December 31, 2019, respectively, FHN had $230.2 million and $136.6 million of cash receivables and $130.6 million and $53.0 million of cash payables related to collateral posting under master netting arrangements, inclusive of collateral posted related to contracts with adjustable collateral posting thresholds and over-collateralized positions, with derivative counterparties. With exchange-traded contracts, the credit risk is limited to the clearinghouse used. For non-exchange traded instruments, credit risk may occur when there is a gain in the fair value of the financial instrument and the counterparty fails to perform according to the terms of the contract and/or when the collateral proves to be of insufficient value. See additional discussion regarding master netting agreements and collateral posting requirements later in this note under the heading “Master Netting and Similar Agreements.” Market risk represents the potential loss due to the decrease in the value of a financial instrument caused primarily by changes in interest rates or the prices of debt instruments. FHN manages market risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. FHN continually measures this risk through the use of models that measure value-at-risk and earnings-at-risk. Derivative Instruments. FHN enters into various derivative contracts both to facilitate customer transactions and as a risk management tool. Where contracts have been created for customers, FHN enters into upstream transactions with dealers to offset its risk exposure. Contracts with dealers that require central clearing are novated to a clearing agent who becomes FHN’s counterparty. Derivatives are also used as a risk management tool to hedge FHN’s exposure to changes in interest rates or other defined market risks. Forward contracts are over-the-counter contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Futures contracts are exchange-traded contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Interest rate option contracts give the purchaser the right, but not the obligation, to buy or sell a specified quantity of a financial instrument, at a specified price, during a specified period of time. Caps and floors are options that are linked to a notional principal amount and an underlying indexed interest rate. Interest rate swaps involve the exchange of interest payments at specified intervals between two parties without the exchange of any underlying principal. Swaptions are options on interest rate swaps that give the purchaser the right, but not the obligation, to enter into an interest rate swap agreement during a specified period of time. Trading Activities FHN’s fixed income segment trades U.S. Treasury, U.S. Agency, government-guaranteed loan, mortgage-backed, corporate and municipal fixed income securities, and other securities for distribution to customers. When these securities settle on a delayed basis, they are considered forward contracts. Fixed income also enters into interest rate contracts, including caps, swaps, and floors, for its customers. In addition, fixed income enters into futures and option contracts to economically hedge interest rate risk associated with a portion of its securities inventory. These transactions are measured at fair value, with changes in fair value recognized currently in fixed income noninterest income. Related assets and liabilities are recorded on the Consolidated Condensed Statements of Condition as Derivative assets and Derivative liabilities. The FHN Financial Risk Committee and the Credit Risk Management Committee collaborate to mitigate credit risk related to these transactions. Credit risk is controlled through credit approvals, risk control limits, and ongoing monitoring procedures. Total trading revenues were $100.3 million and $54.5 million for the three months ended June 30, 2020 and 2019, and $178.6 million and $99.0 million for the six months ended June 30, 2020 and 2019, respectively. Trading revenues are inclusive of both derivative and non-derivative financial instruments, and are included in Fixed income noninterest income on the Consolidated Condensed Statements of Income. The following tables summarize FHN’s derivatives associated with fixed income trading activities as of June 30, 2020 and December 31, 2019:
Interest Rate Risk Management FHN’s ALCO focuses on managing market risk by controlling and limiting earnings volatility attributable to changes in interest rates. Interest rate risk exists to the extent that interest-earning assets and interest-bearing liabilities have different maturity or repricing characteristics. FHN uses derivatives, primarily swaps, that are designed to moderate the impact on earnings as interest rates change. Interest paid or received for swaps utilized by FHN to hedge the fair value of long term debt is recognized as an adjustment of the interest expense of the liabilities whose risk is being managed. FHN’s interest rate risk management policy is to use derivatives to hedge interest rate risk or market value of assets or liabilities, not to speculate. In addition, FHN has entered into certain interest rate swaps and caps as a part of a product offering to commercial customers that includes customer derivatives paired with upstream offsetting market instruments that, when completed, are designed to mitigate interest rate risk. These contracts do not qualify for hedge accounting and are measured at fair value with gains or losses included in current earnings in Noninterest expense on the Consolidated Condensed Statements of Income. FHN designated a derivative transaction in a hedging strategy to manage interest rate risk on $400.0 million of senior debt issued by First Horizon Bank prior to its maturity in December 2019. This qualified for hedge accounting under ASC 815-20 using the long-haul method. FHN entered into a pay floating, receive fixed interest rate swap to hedge the interest rate risk of the senior debt. First Horizon Bank early redeemed the $400.0 million senior debt on November 1, 2019. FHN has designated a derivative transaction in a hedging strategy to manage interest rate risk on $500.0 million of senior debt which matures in December 2020. This qualifies for hedge accounting under ASC 815-20 using the long-haul method. FHN entered into a pay floating, receive fixed interest rate swap to hedge the interest rate risk of the senior debt. The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of June 30, 2020 and December 31, 2019:
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, 2020 and 2019:
In first quarter 2016, FHN entered into a pay floating, receive fixed interest rate swap in a hedging strategy to manage its exposure to the variability in cash flows related to the interest payments for the following five years on $250 million principal of debt instruments, which primarily consist of held-to-maturity trust preferred loans that have variable interest payments based on 3-month LIBOR. In first quarter 2017, FHN initiated cash flow hedges of $650 million notional amount that had initial durations between three years and seven years. The debt instruments primarily consist of held-to-maturity commercial loans that have variable interest payments based on 1-month LIBOR. $200 million of these swaps expired in first quarter 2020. These qualify for hedge accounting as cash flow hedges under ASC 815-20. All changes in the fair value of these derivatives are recorded as a component of AOCI. Amounts are reclassified from AOCI to earnings as the hedged cash flows affect earnings. Interest paid or received for these swaps is recognized as an adjustment to interest income of the assets whose cash flows are being hedged. The following tables summarize FHN’s derivative activities associated with cash flow hedges as of June 30, 2020 and December 31, 2019:
The following table summarizes gains/(losses) on FHN’s derivatives associated with cash flow hedges for the three and six months ended June 30, 2020 and 2019:
Other Derivatives In conjunction with the sales of a portion of its Visa Class B shares in 2010 and 2011, FHN and the purchaser entered into derivative transactions whereby FHN will make or receive cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. FHN is also required to make periodic financing payments to the purchasers until all of Visa's covered litigation matters are resolved. In third quarter 2018, FHN sold the remainder of its Visa Class B shares, entering into a similar derivative arrangement with the counterparty. All of these derivatives extend until the end of Visa’s Covered Litigation matters. In September 2018, Visa reached a preliminary settlement for one class of plaintiffs in its Payment Card Interchange matter which later received final court approval in December 2019. In accordance with the agreement terms, several individual plaintiffs opted out of the settlement and have the opportunity to separately pursue resolution with Visa. Settlement has not been reached with the second class of plaintiffs in this matter and other covered litigation matters are also pending judicial resolution. Accordingly, the value and timing for completion of Visa’s Covered Litigation matters are uncertain. The derivative transaction executed in third quarter 2018 includes a contingent accelerated termination clause based on the credit ratings of FHN and First Horizon Bank. FHN has not received or paid collateral related to this contract. As of June 30, 2020 and December 31, 2019, the derivative liabilities associated with the sales of Visa Class B shares were $18.0 million and $22.8 million, respectively. See Note 17 - Fair Value of Assets & Liabilities for discussion of the valuation inputs and processes for these Visa-related derivatives. FHN utilizes cross currency swaps and cross currency interest rate swaps to economically hedge its exposure to foreign currency risk and interest rate risk associated with non-U.S. dollar denominated loans. As of June 30, 2020 and December 31, 2019, these loans were valued at $13.8 million and $18.4 million, respectively. The balance sheet amount and the gains/losses associated with these derivatives were not significant. Related to its loan participation/syndication activities, FHN enters into risk participation agreements, under which it assumes exposure for, or receives indemnification for, borrowers’ performance on underlying interest rate derivative contracts. FHN’s counterparties in these contracts are other lending institutions involved in the loan participation/syndication arrangements for which the underlying interest rate derivative contract is intended to hedge interest rate risk for the borrower. FHN will make (other institution is the lead bank) or receive (FHN is the lead bank) payments for risk participations if the borrower defaults on its obligation to perform under the terms of its interest rate derivative agreement with the lead bank in the participation. As of June 30, 2020 the notional values of FHN’s risk participations were $93.8 million of derivative assets and $246.1 million of derivative liabilities. The notional value for risk participation/syndication agreements is consistent with the percentage of participation in the lending arrangement. FHN’s maximum exposure or benefit in the risk participation agreements is contingent on the fair value of the underlying interest rate derivative contracts for which the borrower is in a liability position at the time of default. FHN monitors the credit risk associated with the borrowers to which the risk participations relate through the same credit risk assessment process utilized for establishing credit loss estimates for its loan portfolio. These credit risk estimates are included in the determination of fair value for the risk participations. As of June 30, 2020, FHN had recognized $170 thousand of derivative assets and $830 thousand of derivative liabilities associated with risk participation agreements. Master Netting and Similar Agreements As previously discussed, FHN uses master netting agreements, mutual margining agreements and collateral posting requirements to minimize credit risk on derivative contracts. Master netting and similar agreements are used when counterparties have multiple derivatives contracts that allow for a “right of setoff,” meaning that a counterparty may net offsetting positions and collateral with the same counterparty under the contract to determine a net receivable or payable. The following discussion provides an overview of these arrangements which may vary due to the derivative type and market in which a derivative transaction is executed. Interest rate derivatives are subject to agreements consistent with standard agreement forms of the International Swap and Derivatives Association (“ISDA”). Currently, all interest rate derivative contracts are entered into as over-the-counter transactions and collateral posting requirements are based on the net asset or liability position with each respective counterparty. For contracts that require central clearing, novation to a counterparty with access to a clearinghouse occurs and initial margin is posted. Cash margin received (posted) that is considered settlements for the derivative contracts is included in the respective derivative asset (liability) value. Cash margin that is considered collateral received (posted) for interest rate derivatives is recognized as a liability (asset) on FHN’s Consolidated Condensed Statements of Condition. Interest rate derivatives with customers that are smaller financial institutions typically require posting of collateral by the counterparty to FHN. This collateral is subject to a threshold with daily adjustments based upon changes in the level or fair value of the derivative position. Positions and related collateral can be netted in the event of default. Collateral pledged by a counterparty is typically cash or securities. The securities pledged as collateral are not recognized within FHN’s Consolidated Condensed Statements of Condition. Interest rate derivatives associated with lending arrangements share the collateral with the related loan(s). The derivative and loan positions may be netted in the event of default. For disclosure purposes, the entire collateral amount is allocated to the loan. Interest rate derivatives with larger financial institutions entered into prior to required central clearing typically contain provisions whereby the collateral posting thresholds under the agreements adjust based on the credit ratings of both counterparties. If the credit rating of FHN and/or First Horizon Bank is lowered, FHN could be required to post additional collateral with the counterparties. Conversely, if the credit rating of FHN and/or First Horizon Bank is increased, FHN could have collateral released and be required to post less collateral in the future. Also, if a counterparty’s credit ratings were to decrease, FHN and/or First Horizon Bank could require the posting of additional collateral; whereas if a counterparty’s credit ratings were to increase, the counterparty could require the release of excess collateral. Collateral for these arrangements is adjusted daily based on changes in the net fair value position with each counterparty. The net fair value, determined by individual counterparty, of all interest rate derivative instruments with adjustable collateral posting thresholds was $253.7 million of assets and $3.8 million of liabilities on June 30, 2020, and $63.1 million of assets and $6.4 million of liabilities on December 31, 2019. As of June 30, 2020 and December 31, 2019, FHN had received collateral of $340.0 million and $148.5 million and posted collateral of $43.5 million and $18.4 million, respectively, in the normal course of business related to these agreements. Certain agreements entered into prior to required central clearing also contain accelerated termination provisions, inclusive of the right of offset, if a counterparty’s credit rating falls below a specified level. If a counterparty’s debt rating (including FHN’s and First Horizon Bank’s) were to fall below these minimums, these provisions would be triggered, and the counterparties could terminate the agreements and require immediate settlement of all derivative contracts under the agreements. The net fair value, determined by individual counterparty, of all interest rate derivative instruments with credit-risk-related contingent accelerated termination provisions was $253.6 million of assets and $25.5 million of liabilities on June 30, 2020, and $63.1 million of assets and $10.3 million of liabilities on December 31, 2019. As of June 30, 2020 and December 31, 2019, FHN had received collateral of $340.0 million and $148.5 million and posted collateral of $65.1 million and $22.7 million, respectively, in the normal course of business related to these contracts. FHN’s fixed income segment buys and sells various types of securities for its customers. When these securities settle on a delayed basis, they are considered forward contracts, and are generally not subject to master netting agreements. For futures and options, FHN transacts through a third party, and the transactions are subject to margin and collateral maintenance requirements. In the event of default, open positions can be offset along with the associated collateral. For this disclosure, FHN considers the impact of master netting and other similar agreements which allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net derivative asset or liability position with the related securities and cash collateral. The application of the collateral cannot reduce the net derivative asset or liability position below zero, and therefore any excess collateral is not reflected in the following tables. The following table provides details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of June 30, 2020 and December 31, 2019:
The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of June 30, 2020 and December 31, 2019:
(a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2020 and December 31, 2019, $19.2 million and $23.2 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
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Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions |
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| Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions | Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions For repurchase, reverse repurchase and securities borrowing transactions, FHN and each counterparty have the ability to offset all open positions and related collateral in the event of default. Due to the nature of these transactions, the value of the collateral for each transaction approximates the value of the corresponding receivable or payable. For repurchase agreements through FHN’s fixed income business (Securities purchased under agreements to resell and Securities sold under agreements to repurchase), transactions are collateralized by securities and/or government guaranteed loans which are delivered on the settlement date and are maintained throughout the term of the transaction. For FHN’s repurchase agreements through banking activities (Securities sold under agreements to repurchase), securities are typically pledged at settlement and not released until maturity. For asset positions, the collateral is not included on FHN’s Consolidated Condensed Statements of Condition. For liability positions, securities collateral pledged by FHN is generally represented within FHN’s trading or available-for-sale securities portfolios. For this disclosure, FHN considers the impact of master netting and other similar agreements that allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net asset or liability position with the related securities collateral. The application of the collateral cannot reduce the net asset or liability position below zero, and therefore any excess collateral is not reflected in the tables below. 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, 2020 and December 31, 2019:
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, 2020 and December 31, 2019:
Due to the short duration of Securities sold under agreements to repurchase and the nature of collateral involved, the risks associated with these transactions are considered minimal. The following tables provide details, by collateral type, of the remaining contractual maturity of Securities sold under agreements to repurchase as of June 30, 2020 and December 31, 2019:
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Fair Value of Assets & Liabilities |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Assets & Liabilities | Fair Value of Assets & Liabilities FHN groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. This hierarchy requires FHN to maximize the use of observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Each fair value measurement is placed into the proper level based on the lowest level of significant input. These levels are:
prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.
Recurring Fair Value Measurements The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of June 30, 2020:
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2019:
Changes in Recurring Level 3 Fair Value Measurements The changes in Level 3 assets and liabilities measured at fair value for the three months ended June 30, 2020 and 2019, on a recurring basis are summarized as follows:
The changes in Level 3 assets and liabilities measured at fair value for the six months ended June 30, 2020 and 2019, on a recurring basis are summarized as follows:
There were no net unrealized gains/(losses) for Level 3 assets and liabilities included in other comprehensive income as of June 30, 2020 and 2019. Nonrecurring Fair Value Measurements From time to time, FHN may be required to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market (“LOCOM”) accounting or write-downs of individual assets. For assets measured at fair value on a nonrecurring basis which were still held on the Consolidated Condensed Statements of Condition at June 30, 2020, and December 31, 2019, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.
For assets measured on a nonrecurring basis which were still held on the Consolidated Condensed Statements of Condition at period end, the following table provides information about the fair value adjustments recorded during the three and six months ended June 30, 2020 and 2019:
In 2019, FHN recognized $4.6 million of impairments and $.7 million of impairment reversals, respectively, related to dispositions of acquired properties and $1.5 million of impairments for lease assets related to continuing acquisition integration efforts associated with reduction of leased office space and branch optimization. Related to its restructuring, repositioning, and efficiency efforts, FHN recognized $14.0 million of impairments and $1.4 million of impairment reversals, respectively, for tangible long-lived assets and lease assets. Related to the Company's rebranding initiative, FHN recognized $7.1 million of impairments within the Corporate segment for long-lived tangible assets, primarily signage, related to the company's rebranding initiative. These amounts were recognized in the Corporate segment. Lease asset impairments recognized in 2019 represent the reduction in value of the right-of-use assets associated with leases that are being exited in advance of the contractual lease expiration. Impairments are measured using a discounted cash flow methodology, which is considered a Level 3 valuation. Impairments of long-lived tangible assets reflect locations where the associated land and building are either owned or leased. The fair values of owned sites were determined using estimated sales prices from appraisals and broker opinions less estimated costs to sell with adjustments upon final disposition. The fair values of owned assets in leased sites (e.g., leasehold improvements) were determined using a discounted cash flow approach, based on the revised estimated useful lives of the related assets. Both measurement methodologies are considered Level 3 valuations. Impairment adjustments recognized upon disposition of a location are considered Level 2 valuations. Level 3 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 June 30, 2020 and December 31, 2019:
NM - Not meaningful.
Securities AFS. Increases (decreases) in estimated prepayment rates and bond equivalent yields negatively (positively) affect the value of SBA interest only strips. Management additionally considers whether the loans underlying related SBA-interest only strips are delinquent, in default or prepaying, and adjusts the fair value down 20 - 100% depending on the length of time in default. Loans held-for-sale. Foreclosure losses and prepayment rates are significant unobservable inputs used in the fair value measurement of FHN’s residential real estate loans held-for-sale. Loss severity trends are also assessed to evaluate the reasonableness of fair value estimates resulting from discounted cash flows methodologies as well as to estimate fair value for newly repurchased loans and loans that are near foreclosure. Significant increases (decreases) in any of these inputs in isolation would result in significantly lower (higher) fair value measurements. All observable and unobservable inputs are re-assessed quarterly. Increases (decreases) in estimated prepayment rates and bond equivalent yields negatively (positively) affect the value of unguaranteed interests in SBA loans. Unguaranteed interest in SBA loans held-for-sale are carried at less than the outstanding balance due to credit risk estimates. Credit risk adjustments may be reduced if prepayment is likely or as consistent payment history is realized. Management also considers other factors such as delinquency or default and adjusts the fair value accordingly. Derivative liabilities. In conjunction with the sales of its Visa Class B shares, FHN and the purchasers entered into derivative transactions whereby FHN will make, or receive, cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. FHN uses a discounted cash flow methodology in order to estimate the fair value of FHN’s derivative liabilities associated with its prior sales of Visa Class B shares. The methodology includes estimation of both the resolution amount for Visa’s Covered Litigation matters as well as the length of time until the resolution occurs. Significant increases (decreases) in either of these inputs in isolation would result in significantly higher (lower) fair value measurements for the derivative liabilities. Additionally, FHN performs a probability weighted multiple resolution scenario to calculate the estimated fair value of these derivative liabilities. Assignment of higher (lower) probabilities to the larger potential resolution scenarios would result in an increase (decrease) in the estimated fair value of the derivative liabilities. Since this estimation process requires application of judgment in developing significant unobservable inputs used to determine the possible outcomes and the probability weighting assigned to each scenario, these derivatives have been classified within Level 3 in fair value measurements disclosures. Loans, net of unearned income and Other Real Estate Owned. Collateral-dependent loans and OREO are primarily valued using appraisals based on sales of comparable properties in the same or similar markets. Other collateral (receivables, inventory, equipment, etc.) is valued through borrowing base certificates, financial statements and/or auction valuations. These valuations are discounted based on the quality of reporting, knowledge of the marketability/collectability of the collateral and historical disposition rates. Other assets – tax credit investments. The estimated fair value of tax credit investments accounted for under the equity method is generally determined in relation to the yield (i.e., future tax credits to be received) an acquirer of these investments would expect in relation to the yields experienced on current new issue and/or secondary market transactions. Thus, as tax credits are recognized, the future yield to a market participant is reduced, resulting in consistent impairment of the individual investments. Individual investments are reviewed for impairment quarterly, which may include the consideration of additional marketability discounts related to specific investments which typically includes consideration of the underlying property’s appraised value. Fair Value Option FHN has elected the fair value option on a prospective basis for almost all types of mortgage loans originated for sale purposes under the Financial Instruments Topic (“ASC 825”) except for mortgage origination operations which utilize the platform acquired from CBF. FHN determined that the election reduces certain timing differences and better matches changes in the value of such loans with changes in the value of derivatives and forward delivery commitments used as economic hedges for these assets at the time of election. Repurchased loans are recognized within loans held-for-sale at fair value at the time of repurchase, which includes consideration of the credit status of the loans and the estimated liquidation value. FHN has elected to continue recognition of these loans at fair value in periods subsequent to reacquisition. Due to the credit-distressed nature of the vast majority of repurchased loans and the related loss severities experienced upon repurchase, FHN believes that the fair value election provides a more timely recognition of changes in value for these loans that occur subsequent to repurchase. Absent the fair value election, these loans would be subject to valuation at the LOCOM value, which would prevent subsequent values from exceeding the initial fair value, determined at the time of repurchase, but would require recognition of subsequent declines in value. Thus, the fair value election provides for a more timely recognition of any potential future recoveries in asset values while not affecting the requirement to recognize subsequent declines in value. 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.
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:
For the three and six months ended June 30, 2020 and 2019, the amount for residential real estate loans held-for-sale included an insignificant amount of gain in pretax earnings that is attributable to changes in instrument-specific credit risk. The portion of the fair value adjustments related to credit risk was determined based on estimated default rates and estimated loss severities. Interest income on residential real estate loans held-for-sale measured at fair value is calculated based on the note rate of the loan and is recorded in the interest income section of the Consolidated Condensed Statements of Income as interest on loans held-for-sale. FHN has elected to account for retained interest-only strips from guaranteed SBA loans recorded in available-for-sale securities at fair value through earnings. Since these securities are subject to the risk that prepayments may result in FHN not recovering all or a portion of its recorded investment, the fair value election results in a more timely recognition of the effects of estimated prepayments through earnings rather than being recognized through other comprehensive income with periodic review for other-than-temporary impairment. Gains or losses are recognized through fixed income revenues and are presented in the recurring measurements table. Determination of Fair Value In accordance with ASC 820-10-35, fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following describes the assumptions and methodologies used to estimate the fair value of financial instruments recorded at fair value in the Consolidated Condensed Statements of Condition and for estimating the fair value of financial instruments for which fair value is disclosed under ASC 825-10-50. Short-term financial assets. Federal funds sold, securities purchased under agreements to resell, and interest bearing deposits with other financial institutions and the Federal Reserve are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. Trading securities and trading liabilities. Trading securities and trading liabilities are recognized at fair value through current earnings. Trading inventory held for broker-dealer operations is included in trading securities and trading liabilities. Broker-dealer long positions are valued at bid price in the bid-ask spread. Short positions are valued at the ask price. Inventory positions are valued using observable inputs including current market transactions, LIBOR and U.S. treasury curves, credit spreads, and consensus prepayment speeds. Trading loans are valued using observable inputs including current market transactions, swap rates, mortgage rates, and consensus prepayment speeds. Trading securities also include retained interests in prior mortgage securitizations that qualify as financial assets, which include primarily principal-only strips. FHN uses inputs including yield curves, credit spreads, and prepayment speeds to determine the fair value of principal-only strips. Securities available-for-sale. Securities available-for-sale includes the investment portfolio accounted for as available-for-sale under ASC 320-10-25. Valuations of available-for-sale securities are performed using observable inputs obtained from market transactions in similar securities. Typical inputs include LIBOR and U.S. treasury curves, consensus prepayment estimates, and credit spreads. When available, broker quotes are used to support these valuations. Interest only strips are valued at elected fair value based on an income approach using an internal valuation model. The internal valuation model includes assumptions regarding projections of future cash flows, prepayment rates, default rates and interest only strip terms. These securities bear the risk of loan prepayment or default that may result in the Company not recovering all or a portion of its recorded investment. When appropriate, valuations are adjusted for various factors including default or prepayment status of the underlying SBA loans. Because of the inherent uncertainty of valuation, those estimated values may be higher or lower than the values that would have been used had a ready market for the securities existed, and may change in the near term. Loans held-for-sale. Residential real estate loans held-for-sale are valued using current transaction prices and/or values on similar assets when available, including committed bids for specific loans or loan portfolios. Uncommitted bids may be adjusted based on other available market information. For all other loans FHN determines the fair value of residential real estate loans held-for-sale using a discounted cash flow model which incorporates both observable and unobservable inputs. Inputs include current mortgage rates for similar products, estimated prepayment rates, foreclosure losses, and various loan performance measures (delinquency, LTV, credit score). Adjustments for delinquency and other differences in loan characteristics are typically reflected in the model’s discount rates. Loss severity trends and the value of underlying collateral are also considered in assessing the appropriate fair value for severely delinquent loans and loans in foreclosure. The valuation of HELOCs also incorporates estimated cancellation rates for loans expected to become delinquent. Non-mortgage consumer loans held-for-sale are valued using committed bids for specific loans or loan portfolios or current market pricing for similar assets with adjustments for differences in credit standing (delinquency, historical default rates for similar loans), yield, collateral values and prepayment rates. If pricing for similar assets is not available, a discounted cash flow methodology is utilized, which incorporates all of these factors into an estimate of investor required yield for the discount rate. The Company utilizes quoted market prices of similar instruments or broker and dealer quotations to value the SBA and USDA guaranteed loans. The Company values SBA-unguaranteed interests in loans held-for-sale based on individual loan characteristics, such as industry type and pay history which generally follows an income approach. Furthermore, these valuations are adjusted for changes in prepayment estimates and are reduced due to restrictions on trading. The fair value of other non-residential real estate loans held-for-sale is approximated by their carrying values based on current transaction values. Collateral-Dependent loans. For loans measured using the estimated fair value of collateral less costs to sell, fair value is estimated using appraisals of the collateral. Collateral values are monitored and additional write-downs are recognized if it is determined that the estimated collateral values have declined further. Estimated costs to sell are based on current amounts of disposal costs for similar assets. Carrying value is considered to reflect fair value for these loans. Derivative assets and liabilities. The fair value for forwards and futures contracts is based on current transactions involving identical securities. Futures contracts are exchange-traded and thus have no credit risk factor assigned as the risk of non-performance is limited to the clearinghouse used. Valuations of other derivatives (primarily interest rate related swaps) are based on inputs observed in active markets for similar instruments. Typical inputs include the LIBOR curve, Overnight Indexed Swap (“OIS”) curve, option volatility, and option skew. In measuring the fair value of these derivative assets and liabilities, FHN has elected to consider credit risk based on the net exposure to individual counterparties. Credit risk is mitigated for these instruments through the use of mutual margining and master netting agreements as well as collateral posting requirements. For derivative contracts with daily cash margin requirements that are considered settlements, the daily margin amount is netted within derivative assets or liabilities. Any remaining credit risk related to interest rate derivatives is considered in determining fair value through evaluation of additional factors such as customer loan grades and debt ratings. Foreign currency related derivatives also utilize observable exchange rates in the determination of fair value. The determination of fair value for FHN’s derivative liabilities associated with its prior sales of Visa Class B shares are classified within Level 3 in the fair value measurements disclosure as previously discussed in the unobservable inputs discussion. The fair value of risk participations is determined in reference to the fair value of the related derivative contract between the borrower and the lead bank in the participation structure, which is determined consistent with the valuation process discussed above. This value is adjusted for the pro rata portion of the reference derivative’s notional value and an assessment of credit risk for the referenced borrower. OREO. OREO primarily consists of properties that have been acquired in satisfaction of debt. These properties are carried at the lower of the outstanding loan amount or estimated fair value less estimated costs to sell the real estate. Estimated fair value is determined using appraised values with subsequent adjustments for deterioration in values that are not reflected in the most recent appraisal. Other assets. For disclosure purposes, other assets consist of tax credit investments, FRB and FHLB Stock, deferred compensation mutual funds and equity investments (including other mutual funds) with readily determinable fair values. Tax credit investments accounted for under the equity method are written down to estimated fair value quarterly based on the estimated value of the associated tax credits which incorporates estimates of required yield for hypothetical investors. The fair value of all other tax credit investments is estimated using recent transaction information with adjustments for differences in individual investments. Deferred compensation mutual funds are recognized at fair value, which is based on quoted prices in active markets. Investments in the stock of the Federal Reserve Bank and Federal Home Loan Banks are recognized at historical cost in the Consolidated Condensed Statements of Condition which is considered to approximate fair value. Investments in mutual funds are measured at the funds’ reported closing net asset values. Investments in equity securities are valued using quoted market prices when available. Defined maturity deposits. The fair value of these deposits is estimated by discounting future cash flows to their present value. Future cash flows are discounted by using the current market rates of similar instruments applicable to the remaining maturity. For disclosure purposes, defined maturity deposits include all time deposits. Short-term financial liabilities. The fair value of federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings are approximated by the book value. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. Loan commitments. Fair values of these commitments are based on fees charged to enter into similar agreements taking into account the remaining terms of the agreements and the counterparties’ credit standing. Other commitments. Fair values of these commitments are based on fees charged to enter into similar agreements. The following fair value estimates are determined as of a specific point in time utilizing various assumptions and estimates. The use of assumptions and various valuation techniques, as well as the absence of secondary markets for certain financial instruments, reduces the comparability of fair value disclosures between financial institutions. Due to market illiquidity, the fair values for loans, net of unearned income, loans held-for-sale, and term borrowings as of June 30, 2020 and December 31, 2019, involve the use of significant internally-developed pricing assumptions for certain components of these line items. The assumptions and valuations utilized for this disclosure are considered to reflect inputs that market participants would use in transactions involving these instruments as of the measurement date. The valuations of legacy assets, particularly consumer loans within the Non-Strategic segment and TRUPS loans, are influenced by changes in economic conditions since origination and risk perceptions of the financial sector. These considerations affect the estimate of a potential acquirer’s cost of capital and cash flow volatility assumptions from these assets and the resulting fair value measurements may depart significantly from FHN’s internal estimates of the intrinsic value of these assets. Assets and liabilities that are not financial instruments have not been included in the following table such as the value of long-term relationships with deposit and trust customers, premises and equipment, goodwill and other intangibles, deferred taxes, and certain other assets and other liabilities. Additionally, these measurements are solely for financial instruments as of the measurement date and do not consider the earnings potential of our various business lines. Accordingly, the total of the fair value amounts does not represent, and should not be construed to represent, the underlying value of FHN. The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Condensed Statements of Condition as of June 30, 2020:
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, 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of June 30, 2020 and December 31, 2019:
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring, Repositioning, and Efficiency | Restructuring, Repositioning, and Efficiency Beginning in 2019, FHN initiated a company-wide review of business practices with the goal of optimizing its expense base to improve profitability and create capacity to reinvest savings into technology and revenue production activities. Restructuring, repositioning, and efficiency charges related to these corporate-driven actions were not significant in the first half 2020 and were $30.8 million in the first half 2019 and are included in the Corporate segment. Significant expenses resulted from the following actions:
and bank services functions which are classified as Employee compensation, incentives and benefits within noninterest expense.
Settlement of the obligations arising from current initiatives will be funded from operating cash flows. Total expense recognized for the three and six months ended June 30, 2020 and 2019 is presented in the table below:
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Financial Information (Policies) |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis Of Accounting | Basis of Accounting. The unaudited interim consolidated condensed financial statements of First Horizon National Corporation (“FHN”), including its subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America and follow general practices within the industries in which it operates. This preparation requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the financial statements and could differ from actual results. In the opinion of management, all necessary adjustments have been made for a fair presentation of financial position and results of operations for the periods presented. These adjustments are of a normal recurring nature unless otherwise disclosed in this Quarterly Report on Form 10-Q. The operating results for the interim 2020 period are not necessarily indicative of the results that may be expected going forward. For further information, refer to the audited consolidated financial statements in Item 8 to FHN’s Annual Report on Form 10-K for the year ended December 31, 2019. |
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| Revenues, Contract Balances, Transaction Price Allocated to Remaining Performance Obligation | Revenues. Revenue is recognized when the performance obligations under the terms of a contract with a customer are satisfied in an amount that reflects the consideration FHN expects to be entitled. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized immediately upon completion of the transaction. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. Any services performed over time generally require that FHN render services each period and therefore FHN measures progress in completing these services based upon the passage of time and recognizes revenue as invoiced. See Note 1– Summary of Significant Accounting Policies in the Notes to Consolidated Financial Statements on Form 10-K for the year ended December 31, 2019, for a discussion of FHN's key revenues. Contract Balances. As of June 30, 2020, accounts receivable related to products and services on non-interest income were $8.9 million. For the three months ended June 30, 2020, FHN had no material impairment losses on non-interest accounts receivable and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Condensed Statements of Condition as of June 30, 2020. Credit risk is assessed on these accounts receivable each reporting period and the amount of estimated uncollectible receivables is not material. Transaction Price Allocated to Remaining Performance Obligations. For the three and six months ended June 30, 2020, revenue recognized from performance obligations related to prior periods was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less and contracts where revenue is recognized as invoiced, is not material. Refer to Note 12– Business Segment Information for a reconciliation of disaggregated revenue by major product line and reportable segment.
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| Debt Investment Securities | Debt Investment Securities. Debt securities that may be sold prior to maturity are classified as available-for-sale (“AFS”) and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Condensed Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity (“HTM”) are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 16 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses (i.e., from sales) for debt investment securities are determined by the specific identification method and reported in noninterest income. In periods subsequent to 2019, the evaluation of credit risk for HTM debt securities mirrors the process described below for loans held-for-investment. AFS debt securities are reviewed for potential credit impairment at the individual security level. The evaluation of credit risk includes consideration of third-party and government guarantees (both explicit and implicit), senior or subordinated status, credit ratings of the issuer, the effects of interest rate changes since purchase and observable market information such as issuer-specific credit spreads. Credit losses for AFS debt securities are generally recognized through establishment of an allowance for credit losses that cannot exceed the amount by which amortized cost exceeds fair value. Charge offs are recorded as reductions of the security’s amortized cost and the credit allowance. Subsequent improvements in estimated credit losses result in reduction of the credit allowance, but not beyond zero. However, if FHN has the intent to sell or if it is more-likely-than-not that it will be compelled to sell a security with an unrecognized loss, the difference between the security's carrying value and fair value is recognized through earnings and a new amortized cost basis is established for the security (i.e., no allowance for credit losses is recognized). FHN has elected to exclude accrued interest receivable (“AIR”) from the fair value and amortized cost basis on AFS debt securities when assessing whether these securities have experienced credit impairment. Additionally, FHN has elected to not measure an allowance for credit losses on AIR for AFS debt securities based on its policy to write off uncollectible interest in a timely manner, which generally occurs when delinquency reaches no more than 90 days for all security types. Any such write offs are recognized as a reduction of interest income. AIR for AFS debt securities is included within Other assets in the Consolidated Condensed Statement of Condition. In periods prior to 2020, both AFS and HTM securities were reviewed quarterly for possible other-than-temporary impairment (“OTTI”). The review included an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value had been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Declines in value judged to be other-than-temporary (“OTTI”) based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN had the intent to sell, were determined by the specific identification method. For HTM debt securities, OTTI recognized was typically credit-related and was reported in noninterest income. For impaired AFS debt securities that FHN did not intend to sell and was not required to sell prior to recovery but for which credit losses existed, the OTTI recognized was allocated between the total impairment related to credit losses which was reported in noninterest income, and the impairment related to all other factors which was excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Condensed Statements of Comprehensive Income.
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| Fed Funds Sold and Purchased | Fed Funds Sold and Purchased. Fed funds sold and purchased represent unsecured overnight funding arrangements between participants in the Federal Reserve system primarily to assist banks in meeting their regulatory cash reserve requirements. Fed Funds sold are evaluated for credit risk each reporting period. Due to the short duration of each transaction and the history of no credit losses, no credit loss has been recognized.
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| Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase | Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase. FHN purchases short-term securities under agreements to resell which are accounted for as collateralized financings except where FHN does not have an agreement to sell the same or substantially the same securities before maturity at a fixed or determinable price. All of FHN’s securities purchased under agreements to resell are recognized as collateralized financings. Securities delivered under these transactions are delivered to either the dealer custody account at the FRB or to the applicable counterparty. Securities sold under agreements to repurchase are offered to cash management customers as an automated, collateralized investment account. Securities sold under agreements to repurchase are also used by the consumer/commercial bank to obtain favorable borrowing rates on its purchased funds. All of FHN's securities sold under agreements to repurchase are secured borrowings. Collateral is valued daily and FHN may require counterparties to deposit additional securities or cash as collateral, or FHN may return cash or securities previously pledged by counterparties, or FHN may be required to post additional securities or cash as collateral, based on the contractual requirements for these transactions. FHN’s fixed income business utilizes securities borrowing arrangements as part of its trading operations. Securities borrowing transactions generally require FHN to deposit cash with the securities lender. The amount of cash advanced is recorded within Securities purchased under agreements to resell in the Consolidated Condensed Statements of Condition. These transactions are not considered purchases and the securities borrowed are not recognized by FHN. FHN does not conduct securities lending transactions. Securities purchased under agreements to resell and securities borrowing arrangements are evaluated for credit risk each reporting period. As presented in Note 15 - Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions, these agreements are collateralized by the related securities and collateral maintenance provisions with counterparties, including replenishment and adjustment on a transaction specific basis. This collateral includes both the securities collateral for each transaction as well as offsetting securities sold under agreements to repurchase with the same counterparty. Given the history of no credit losses and collateralized nature of these transactions, no credit loss has been recognized.
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| Loans, Purchased Credit-Deteriorated Loans, Purchased Credit-Impaired Loans, and Allowance for Loan Losses | Subsequent to 2019 The ALLL is maintained at a level that management determines is sufficient to absorb current expected credit losses (“CECL”) in the loan portfolio. Management uses analytical models to estimate expected credit losses in the loan portfolio as of the balance sheet date. The models are carefully reviewed to identify trends that may not be captured in the modeled loss estimates. Management uses qualitative adjustments for those items not reflected in the modeled loss information such as recent changes from the macroeconomic forecasts utilized in model calculations, results of additional stressed modeling scenarios, observed and/or expected changes affecting borrowers in specific industries or geographic areas, exposure to large lending relationships and expected recoveries of prior charge offs. The ALLL is increased by the provision for loan losses and is decreased by loan charge-offs. The ALLL is determined in accordance with ASC 326-20 "Financial Instruments - Credit Losses.” Credit loss estimation is based on the amortized cost of Loans, net, which includes the following: 1. Unpaid principal balance for originated assets or acquisition price for purchased assets 2. Accrued interest (see elections discussed previously) 3. Accretion or amortization of premium, discount, and net deferred fees or costs 4. Collection of cash 5. Charge-offs 6. Foreign exchange adjustments (none for FHN) 7. Fair value hedge accounting adjustments (none for FHN) Premiums, discounts and net deferred origination costs/fees affect the calculated amount of expected credit losses but they are not considered when determining the amount of expected credit losses that are recorded. Under CECL, loans must be pooled when they share similar risk characteristics with other loans. Loans that do not share similar risk characteristics are evaluated individually. Expected credit loss is estimated for the remaining life of loan(s), which is limited to the remaining contractual term(s), adjusted for prepayment estimates, which are included as separate inputs into modeled loss estimates. Renewals and extensions are not anticipated unless they are included in existing loan documentation and are not unconditionally cancellable by the lender. However, losses are estimated over the estimated remaining life of reasonably expected TDRs which can extend beyond the current remaining contractual term. Estimates of expected credit losses incorporate consideration of available information that is relevant to assessing the collectability of future cash flows. This includes internal and external information relating to past events, current conditions and reasonable and supportable forecasts of future conditions. FHN utilizes internal historical loss information as the initial point for estimating expected credit losses. Given the duration of historical information available, FHN considers its internal loss history to fully incorporate the effects of prior credit cycles. The historical loss information may be adjusted in situations where current loan characteristics (e.g., underwriting criteria) differ from those in existence at the time the historical losses occurred. Historical loss information is also adjusted for differences in economic conditions, macroeconomic forecasts and other factors management considers relevant over a period extending beyond the measurement date which is considered reasonable and supportable. This reasonable and supportable period is followed by a reversion period after which loss estimates are based on long-term historical loss averages. FHN generally measures expected credit losses using undiscounted cash flow methodologies. Credit enhancements (e.g., guarantors) are considered in the estimation of uncollectible cash flows. Estimation of expected credit losses for loan agreements involving collateral maintenance provisions include consideration of the value of the collateral and replenishment requirements, with the maximum loss limited to the difference between the amortized cost of the loan and the fair value of the collateral. Expected credit losses for loans for which foreclosure is probable are measured at the fair value of collateral, less estimated costs to sell when disposition through sale is anticipated. Additionally, certain loans are valued at the fair value of collateral when repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty. Expected credit losses for TDRs are measured in accordance with ASC 310-40, which generally requires a discounted cash flow methodology, whereby the loans are measured based on the present value of expected future payments discounted at the loan’s original effective interest rate. Expected recoveries of previously charged-off amounts are also included as a qualitative adjustment in the estimation of expected credit losses, which reduces the amount of the allowance recognized. Estimates of recoveries on previously charged-off assets included in the valuation account do not exceed the aggregate of amounts previously written off and expected to be written off. Since CECL requires estimation of credit for the entire expected life of loans, loss estimates are highly sensitive to changes in macroeconomic forecasts, especially when those forecasts change dramatically in short time periods. Additionally, under CECL credit loss estimates are more likely to increase rapidly in periods of loan growth. Expected credit losses for unfunded commitments are estimated for periods where the commitment is not unconditionally cancellable by FHN. The measurement of expected credit losses for unfunded commitments mirrors that of loans with the additional estimate of future draw rates (timing and amount). Prior to 2020 The ALLL was maintained at a level that management determined was sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL was increased by the provision for loan losses and loan recoveries and was decreased by loan charge-offs. The ALLL was determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and was composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous consumer and commercial loans. The reserve factors applied to these pools were an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL included specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management used analytical models to estimate probable incurred losses in the loan portfolio as of the balance sheet date. The models, which were primarily driven by historical losses, were carefully reviewed to identify trends that may not have been captured in the historical loss factors used in the models. Management used qualitative adjustments for those items not yet captured in the models like then-current events, recent trends in the portfolio, current underwriting guidelines, and local and macroeconomic trends, among other things. Key components of the estimation process were as follows: (1) commercial loans determined by management to be individually impaired loans were evaluated individually and specific reserves were determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired were segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment were calculated based on historical net charge-offs and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflected the reserve rates applied against the balance of loans in the commercial segment of the loan portfolio; (5) consumer loans were generally segmented based on loan type; (6) reserve amounts for each consumer portfolio segment were calculated using analytical models based on delinquency trends and net loss experience and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each consumer portfolio segment reflected management’s estimate of probable incurred losses in the consumer segment of the loan portfolio. Impairment related to individually impaired loans was measured in accordance with ASC 310-10. All commercial portfolio segments, commercial TDRs and other individually impaired commercial loans were measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value (collateral value less estimated costs to sell). Impaired loans also included consumer TDRs. Loans. Generally, loans are stated at principal amounts outstanding, net of unearned income. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs as well as premiums and discounts are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs, premiums and discounts are recognized in interest income upon early repayment of the loans. Cash collections from loans that were fully charged off prior to acquisition are recognized in noninterest income. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. FHN has elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis on for its held-for-investment loan portfolio. FHN has also elected to not measure an allowance for credit losses on AIR for loans held-for-investment based on its policy to write off uncollectible interest in a timely manner, which occurs when a loan is placed on nonaccrual status. Such write offs are recognized as a reduction of interest income. AIR for held-for-investment loans is included within Other assets in the Consolidated Condensed Statements of Condition. FHN has continued to accrue interest on loans for which payment deferrals have been extended to borrowers affected by the COVID-19 pandemic ("COVID-19 Deferrals"). Deferrals are made for durations up to six months, which is beyond FHN's normal write-off practices for accrued interest. Therefore, these interest deferrals do not qualify for FHN's election to not recognize a credit loss allowance for accrued interest. Accordingly, FHN has estimated credit losses for COVID-19 interest deferrals which is included within AIR in Other assets in the Consolidated Condensed Statements of Condition. Purchased Credit-Deteriorated Loans. Subsequent to 2019, FHN evaluates all acquired loans to determine if they have experienced a more-than-insignificant deterioration in credit quality since origination (“PCD loans”). PCD loans can be identified on either an 1) individual or 2) pooled basis when the loans share similar risk characteristics. FHN evaluates various absolute factors to assist in the identification of PCD loans, including criteria such as, existing PCD status, risk rating of special mention or lower, nonaccrual or impaired status, identification of prior TDRs, and delinquency status. FHN also utilizes relative factors to identify PCD loans such as commercial loan grade migration, expansion of borrower credit spreads, declines in external risk ratings and changes in consumer loan characteristics (e.g., FICO decline or LTV increase). In addition, factors reflective of broad economic considerations are also considered in identifying PCD loans. These include industry, collateral type, and geographic location for the borrower’s operations. Internal factors for origination of new loans that are similar to the acquired loans are also evaluated to assess loans for PCD status, including increases in required yields, necessity of borrowers’ providing additional collateral and/or guarantees and changes in acceptable loan duration. Other indicators may also be used to evaluate loans for PCD status depending on borrower-specific communications and actions, such public statements, initiation of loan modification discussions and obtaining emergency funding from alternate sources. Upon acquisition, the expected credit losses are allocated to the purchase price of individual PCD loans to determine each individual assets amortized cost basis, typically resulting in a reduction of the discount that is accreted prospectively to interest income. At the acquisition date and prospectively, only the unpaid principal balance is incorporated within the estimation of expected credit losses for PCD loans. Otherwise, the process for estimate of expected credit losses is consistent with that discussed below. As discussed below FHN applies undiscounted cash flow methodologies for the estimation of expected credit losses, which results in the calculated amount of credit losses at acquisition that is added to the amortized cost basis of the related PCD loans to exceed the discounted value of estimated credit losses included in the loan valuation. Purchased Credit-Impaired Loans. Prior to 2020, ASC 310-30 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer,” established guidance for acquired loans that exhibited deterioration of credit quality between origination and the time of acquisition and for which the timely collection of the interest and principal was not reasonably assured (“PCI loans”). PCI loans were initially recorded at fair value which was estimated by discounting expected cash flows at acquisition date. The expected cash flows included all contractually expected amounts (including interest) and incorporated an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools was based upon common risk characteristics that include similar credit risk or risk ratings, and one or more predominant risk characteristics. Each PCI pool was accounted for as a single unit. Accretable yield was initially established at acquisition and is the excess of cash flows expected at acquisition over the initial investment in the loan and was recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference was initially established at acquisition and was the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimated expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement resulted in reversal of any nonaccretable difference (or allowance for loan losses to the extent any has previously been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows resulted in an increase in the allowance for loan losses through provision expense. FHN did not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that have been pooled and subsequently modified were not reported as troubled debt restructurings since the pool was the unit of measurement. Subsequent to 2019, PCI loans have transitioned to purchased-credit-deteriorated status and are accounted for as discussed above.
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| Allowance for Loan Losses | Allowance for Loan Losses. The nature of the process by which FHN determines the appropriate ALLL requires the exercise of considerable judgment. See Note 5 - Allowance for Loan Losses for a discussion of FHN’s ALLL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. The discussion herein reflects periods before and after implementation of a change in credit loss estimation processes that was effective January 1, 2020. Future adjustments to the ALLL may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. Subsequent to 2019 The ALLL is maintained at a level that management determines is sufficient to absorb current expected credit losses (“CECL”) in the loan portfolio. Management uses analytical models to estimate expected credit losses in the loan portfolio as of the balance sheet date. The models are carefully reviewed to identify trends that may not be captured in the modeled loss estimates. Management uses qualitative adjustments for those items not reflected in the modeled loss information such as recent changes from the macroeconomic forecasts utilized in model calculations, results of additional stressed modeling scenarios, observed and/or expected changes affecting borrowers in specific industries or geographic areas, exposure to large lending relationships and expected recoveries of prior charge offs. The ALLL is increased by the provision for loan losses and is decreased by loan charge-offs. The ALLL is determined in accordance with ASC 326-20 "Financial Instruments - Credit Losses.” Credit loss estimation is based on the amortized cost of Loans, net, which includes the following: 1. Unpaid principal balance for originated assets or acquisition price for purchased assets 2. Accrued interest (see elections discussed previously) 3. Accretion or amortization of premium, discount, and net deferred fees or costs 4. Collection of cash 5. Charge-offs 6. Foreign exchange adjustments (none for FHN) 7. Fair value hedge accounting adjustments (none for FHN) Premiums, discounts and net deferred origination costs/fees affect the calculated amount of expected credit losses but they are not considered when determining the amount of expected credit losses that are recorded. Under CECL, loans must be pooled when they share similar risk characteristics with other loans. Loans that do not share similar risk characteristics are evaluated individually. Expected credit loss is estimated for the remaining life of loan(s), which is limited to the remaining contractual term(s), adjusted for prepayment estimates, which are included as separate inputs into modeled loss estimates. Renewals and extensions are not anticipated unless they are included in existing loan documentation and are not unconditionally cancellable by the lender. However, losses are estimated over the estimated remaining life of reasonably expected TDRs which can extend beyond the current remaining contractual term. Estimates of expected credit losses incorporate consideration of available information that is relevant to assessing the collectability of future cash flows. This includes internal and external information relating to past events, current conditions and reasonable and supportable forecasts of future conditions. FHN utilizes internal historical loss information as the initial point for estimating expected credit losses. Given the duration of historical information available, FHN considers its internal loss history to fully incorporate the effects of prior credit cycles. The historical loss information may be adjusted in situations where current loan characteristics (e.g., underwriting criteria) differ from those in existence at the time the historical losses occurred. Historical loss information is also adjusted for differences in economic conditions, macroeconomic forecasts and other factors management considers relevant over a period extending beyond the measurement date which is considered reasonable and supportable. This reasonable and supportable period is followed by a reversion period after which loss estimates are based on long-term historical loss averages. FHN generally measures expected credit losses using undiscounted cash flow methodologies. Credit enhancements (e.g., guarantors) are considered in the estimation of uncollectible cash flows. Estimation of expected credit losses for loan agreements involving collateral maintenance provisions include consideration of the value of the collateral and replenishment requirements, with the maximum loss limited to the difference between the amortized cost of the loan and the fair value of the collateral. Expected credit losses for loans for which foreclosure is probable are measured at the fair value of collateral, less estimated costs to sell when disposition through sale is anticipated. Additionally, certain loans are valued at the fair value of collateral when repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty. Expected credit losses for TDRs are measured in accordance with ASC 310-40, which generally requires a discounted cash flow methodology, whereby the loans are measured based on the present value of expected future payments discounted at the loan’s original effective interest rate. Expected recoveries of previously charged-off amounts are also included as a qualitative adjustment in the estimation of expected credit losses, which reduces the amount of the allowance recognized. Estimates of recoveries on previously charged-off assets included in the valuation account do not exceed the aggregate of amounts previously written off and expected to be written off. Since CECL requires estimation of credit for the entire expected life of loans, loss estimates are highly sensitive to changes in macroeconomic forecasts, especially when those forecasts change dramatically in short time periods. Additionally, under CECL credit loss estimates are more likely to increase rapidly in periods of loan growth. Expected credit losses for unfunded commitments are estimated for periods where the commitment is not unconditionally cancellable by FHN. The measurement of expected credit losses for unfunded commitments mirrors that of loans with the additional estimate of future draw rates (timing and amount). Prior to 2020 The ALLL was maintained at a level that management determined was sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL was increased by the provision for loan losses and loan recoveries and was decreased by loan charge-offs. The ALLL was determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and was composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous consumer and commercial loans. The reserve factors applied to these pools were an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL included specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management used analytical models to estimate probable incurred losses in the loan portfolio as of the balance sheet date. The models, which were primarily driven by historical losses, were carefully reviewed to identify trends that may not have been captured in the historical loss factors used in the models. Management used qualitative adjustments for those items not yet captured in the models like then-current events, recent trends in the portfolio, current underwriting guidelines, and local and macroeconomic trends, among other things. Key components of the estimation process were as follows: (1) commercial loans determined by management to be individually impaired loans were evaluated individually and specific reserves were determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired were segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment were calculated based on historical net charge-offs and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflected the reserve rates applied against the balance of loans in the commercial segment of the loan portfolio; (5) consumer loans were generally segmented based on loan type; (6) reserve amounts for each consumer portfolio segment were calculated using analytical models based on delinquency trends and net loss experience and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each consumer portfolio segment reflected management’s estimate of probable incurred losses in the consumer segment of the loan portfolio. Impairment related to individually impaired loans was measured in accordance with ASC 310-10. All commercial portfolio segments, commercial TDRs and other individually impaired commercial loans were measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value (collateral value less estimated costs to sell). Impaired loans also included consumer TDRs. |
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| Summary of Accounting Changes and Accounting Changes Issued But Not Currently Effective | Summary of Accounting Changes. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” which revises the measurement and recognition of credit losses for assets measured at amortized cost (e.g., HTM loans and debt securities) and AFS debt securities. Under ASU 2016-13, for assets measured at amortized cost, the current expected credit loss (“CECL”) is measured as the difference between amortized cost and the net amount expected to be collected. This represents a departure from prior GAAP as the “incurred loss” methodology for recognizing credit losses delayed recognition until it was probable a loss had been incurred. Under CECL the full amount of expected credit losses will be recognized at the time of loan origination. The measurement of current expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Additionally, current disclosures of credit quality indicators in relation to the amortized cost of financing receivables are further disaggregated by year of origination. ASU 2016-13 leaves the methodology for measuring credit losses on AFS debt securities largely unchanged, with the maximum credit loss representing the difference between amortized cost and fair value. However, such credit losses are recognized through an allowance for credit losses, which permits recovery of previously recognized credit losses if circumstances change. ASU 2016-13 also revises the recognition of credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (“PCD assets”). For PCD assets, the initial allowance for credit losses is added to the purchase price. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for PCD assets. Interest income for PCD assets is recognized based on the effective interest rate, excluding the discount embedded in the purchase price that is attributable to the acquirer’s assessment of credit losses at acquisition. Previously, credit losses for purchased credit-impaired assets were included in the initial basis of the assets with subsequent declines in credit resulting in expense while subsequent improvements in credit were reflected as an increase in the future yield from the assets. For non-PCD assets, expected credit losses are recognized through earnings upon acquisition and the entire premium or discount accreted to interest income over the remaining life of the loan. Credit allowances for acquired non-PCD assets are established through immediate recognition of credit loss expense (similar to originated loans) and do not consider purchase discounts related to estimated credit losses. The provisions of ASU 2016-13 were generally adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in the year of adoption. Prospective implementation is required for debt securities for which an other-than-temporary-impairment (“OTTI”) had been previously recognized. Amounts previously recognized in accumulated other comprehensive income (“AOCI”) as of the date of adoption that relate to improvements in cash flows expected to be collected continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption are recorded in earnings when received. A prospective transition approach was used for existing PCD assets where, upon adoption, the amortized cost basis was increased to offset the initial recognition of the allowance for credit losses. Thus, an entity was not required to reassess its purchased financial assets that existed as of the date of adoption to determine whether they would have met at acquisition the new criteria of more-than-insignificant credit deterioration since origination. An entity accretes the remaining noncredit discount (based on the revised amortized cost basis) into interest income at the effective interest rate at the adoption date. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. FHN’s most significant implementation activities included review of loan portfolio segments and classes, identification and evaluation of collateral dependent loans and loans secured by collateral replenishment arrangements, selection of measurement methodologies and related model development, data accumulation and verification, development of loan life estimates, identification of reasonable and supportable forecast periods, selection of time lines and methods for reversion to unadjusted historical information, multiple preliminary analysis including parallel runs against existing loan loss estimation processes, and design and evaluation of internal controls over the new estimation processes. FHN utilizes undiscounted cash flow methods for loans except for troubled debt restructurings, which require use of discounted cash flow methodologies. A significant portion of the adoption impact for ASU 2016-13 relates to increased reserves within the consumer portfolios, given the longer contractual maturities associated with many of these products as well as increased reserves for acquired loans that previously considered purchase discounts. Based on its implementation efforts, FHN recorded the following adoption adjustments effective January 1, 2020.
(a) The effect on loans represents the increase in amortized cost for recognition of the allowance for credit losses on PCD loans. FHN also assessed several asset classes other than loans that are within the scope of CECL and determined that the adoption effects for the change in measurement of credit risk were minimal for these classes. This includes Fed funds sold which have no history of credit losses due to their short (typically overnight) duration and counterparty risk assessment processes. This also includes securities borrowed and securities purchased under agreements to resell which have collateral maintenance agreements that incorporate master netting provisions resulting in minimal uncollateralized positions as of any date as evidenced by the disclosures provided in Note 15 - Master Netting and Similar Agreements-Repurchase, Reverse Repurchase, and Securities Borrowing Transactions. Additionally, FHN also evaluated the composition of its AFS securities and determined that the changes in ASU 2016-13 did not have an effect on the current portfolio. In April 2019, the FASB issued ASU 2019-04, "Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments," which provides an election to either 1) not measure or 2) measure separately an allowance for credit losses for accrued interest receivable (“AIR"). Entities electing to not measure an allowance for AIR must write off uncollectible interest in a timely manner. Additionally, an election is provided for the write off of uncollectible interest to be recorded either as a reversal of interest income or a charge against the allowance for credit losses or a combination of both. Disclosures are required depending upon which elections are made. ASU 2019-04 also clarifies that when loans and securities are transferred between balance sheet categories (e.g., loans from held-for-investment to held-for-sale or securities from held-to-maturity to available-for-sale) the associated allowance for credit losses should be reversed to income and prospective accounting follows the requirements for the new classification. Further, ASU 2019-04 clarifies that recoveries should be incorporated within the estimation of the allowance for credit losses. Expected recoveries should not exceed the aggregate amount of prior write offs and expected future write offs. The inclusion of expected recoveries in the measurement of expected credit losses may result in a negative credit allowance in certain circumstances. Additionally, for collateral dependent financial assets, the allowance for credit losses that is added to the amortized cost basis should not exceed amounts previously written off. ASU 2019-04 also makes several changes when a discounted cash flow approach is used to measure expected credit losses. ASU 2019-04 removes ASU 2016-03’s prohibition of using projections of future interest rate environments when using a discounted cash flow method to measure expected credit losses on variable-rate financial instruments. If an entity uses projections or expectations of future interest rate environments in estimating expected cash flows, the same assumptions should be used in determining the effective interest rate used to discount those expected cash flows. The effective interest rate should also be adjusted to consider the effects of expected prepayments on the timing of expected future cash flows. ASU 2019-04 provides an election to adjust the effective interest rate used in discounting expected cash flows to isolate credit risk in measuring the allowance for credit losses. Further, the discount rate should not be adjusted for subsequent changes in expected prepayments if a financial asset is restructured in a troubled debt restructuring. Related to collateral-dependent financial assets, ASU 2019-04 requires inclusion of estimated costs to sell in the measurement of expected credit losses in situations where the entity intends to sell rather than operate the collateral. Additionally, the estimated costs to sell should be undiscounted when the entity intends to sell rather than operate the collateral. Finally, ASU 2019-04 specifies that contractual renewal or extension options, except those treated as derivatives, should be included in the determination of the contractual term for a financial asset when included in the original or modified contract as of the reporting date if they are not unconditionally cancellable by the entity. The effective date and transition requirements for these components of ASU 2019-04 are consistent with the requirements for ASU 2016-13 and FHN incorporated these changes and revisions within its implementation efforts. Based on its previous existing practices for the timely write off uncollectible AIR, FHN elected to not measure an allowance for credit losses for AIR and to continue recognition of related write offs as a reversal of interest income. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments - Credit Losses, Targeted Transition Relief,” which provides an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis that are in the scope of ASU 2016-13, applied on an instrument-by-instrument basis. The fair value option election does not apply to HTM debt securities. The effective date and transition requirements for ASU 2019-05 are consistent with the requirements for ASU 2016-13. FHN did not elect to apply the fair value option to any asset classes that are in scope for CECL. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses” which clarifies that expected recoveries should be included in the amortized cost basis previously written off or expected to be written off in the valuation allowance for PCD assets. ASU 2019-11 also clarifies that recoveries or expected recoveries of the unamortized noncredit discount or premium should not be included in the allowance for credit losses. ASU 2019-11 provides specific transition relief for existing troubled debt restructurings and extends the disclosure relief of ASU 2019-04 for accrued interest receivable balances to additional relevant disclosures involving amortized cost basis. Related to the assessment of credit risk for collateralized assets, ASU 2019-11 indicates that an entity should assess whether it reasonably expects the borrower will be able to continually replenish collateral securing the financial asset to apply the practical expedient of ASU 2016-13 while also requiring an estimation of expected credit losses for any difference between the amount of the amortized cost basis that is greater than the fair value of the collateral securing the financial asset. The effective date and transition requirements for ASU 2019-11 are consistent with the requirements for ASU 2016-13 and FHN incorporated these changes and revisions within its implementation efforts and the effects are embedded within the adoption effects of ASU 2016-13. Consistent with non-PCD assets, the effect of including recoveries and expected recoveries within the measurement of expected credit losses for PCD assets may result in a negative credit allowance in certain circumstances. On March 22, 2020, The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau issued guidance (the “Interagency Guidance”) that interprets, but does not suspend, ASC 310-40 related to the identification of troubled debt restructurings (“TDRs”). Also on that day, the FASB issued a statement indicating that the Interagency Guidance had been developed in consultation with the staff of the FASB who concurred in the approach. The Interagency Guidance indicates that a lender can conclude that a borrower is not experiencing financial difficulty if either 1) short-term (e.g., six months) modifications are made in response to the economic effects of the Coronavirus disease 2019 (“COVID-19”) pandemic, such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant related to loans in which the borrower is less than 30 days past due on its contractual payments at the time a modification program is implemented, or 2) the modification or deferral program is mandated by the federal government or a state government. Accordingly, any loan modification made in response to COVID-19 pandemic that meets either of these practical expedients would not be considered a TDR because the borrower is not experiencing financial difficulty. Consistent with this perspective, financial institutions are generally not expected to designate loans with deferrals granted due to COVID-19 as past due or nonaccrual because of a deferral. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides relief from certain requirements under U.S. GAAP. Section 4013 of the CARES Act provides entities optional temporary relief from the accounting and disclosure requirements for troubled debt restructurings (TDRs) under ASC 310-40 in certain situations. Section 4013 of the CARES Act permits the suspension of ASC 310-40 for loan modifications that are made by financial institutions in response to the COVID-19 pandemic if 1) the borrower was not more than 30 days past due as of December 31, 2019, and 2) the modifications are related to arrangements that defer or delay the payment of principal or interest, or change the interest rate on the loan. The CARES provisions apply to loan modifications relating to COVID-19 that are made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the national emergency related to COVID-19 ends. On April 3, 2020, the Chief Accountant of the SEC issued a statement indicating that the staff would not object to the conclusion that elective application of the provisions of CARES Act are in accordance with GAAP for the periods that such elections are available. On April 7, 2020, revised Interagency Guidance was issued to reflect the interaction of the CARES Act provisions and the Interagency Guidance, clarifying that the CARES Act guidance can be applied for regulatory purposes. Loan modifications outside the scope of the CARES Act and organizations that elect to not apply the CARES Act guidance should continue to apply ASC 310-40 as interpreted by the Interagency Guidance. FHN has evaluated the provisions of the CARES Act and the Interagency Guidance related to loan modification programs instituted as a result of the COVID-19 pandemic. FHN’s programs involve the deferral of principal and interest payments, fee waivers and extensions for shorter terms (i.e., 6 months or less) or in response to government modification requirements which are consistent with the terms of the Interagency Guidance. Depending upon the duration and severity of the economic effects of the COVID-19 pandemic, additional loan modification programs may be implemented in the future which will be separately evaluated under the CARES Act and the Interagency Guidance. Accounting Changes Issued but Not Currently Effective In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which provides several optional expedients and exceptions to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The provisions of ASU 2020-04 primarily affect 1) contract modifications (e.g., loans, leases, debt, and derivatives) made in anticipation that a reference rate (e.g., LIBOR) will be discontinued and 2) the application of hedge accounting for existing relationships affected by those modifications. The provisions of ASU 2020-04 are effective upon release and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by ASU 2020-04 do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. FHN has been identifying contracts affected by reference rate reform and developing modification plans for those contracts. FHN anticipates that it will utilize the optional expedients and exceptions provided by ASU 2020-04 in situations where they mitigate potential accounting outcomes that do not faithfully represent management’s intent or risk management activities which is consistent with the purpose of the standard.
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Financial Information (Tables) |
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| Schedule of Adoption Adjustments | Based on its implementation efforts, FHN recorded the following adoption adjustments effective January 1, 2020.
(a) The effect on loans represents the increase in amortized cost for recognition of the allowance for credit losses on PCD loans. |
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| Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merger And Integration Expense | Total other merger and integration expense recognized for the three and six months ended June 30, 2020 and 2019 are presented in the table below:
Certain previously reported amounts have been reclassified to agree with current presentation.
Total merger expenses for the IBKC merger recognized for the three and six months ended June 30, 2020 are presented in the table below:
(c) Primarily comprised of fees for travel and entertainment, contract employment, and other miscellaneous expenses.
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Investment Securities (Tables) |
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| Marketable Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of FHN's Investment Securities | The following tables summarize FHN’s investment securities on June 30, 2020 and December 31, 2019:
(b) Includes $3.8 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
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| 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 June 30, 2020 are provided below:
(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.
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| 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 six months ended June 30, 2020 and 2019.
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| 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 June 30, 2020 and December 31, 2019:
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Loans (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Loans By Portfolio Segment | The following table provides the balance (amortized cost basis) of loans, net of unearned income, by portfolio segment as of June 30, 2020 and December 31, 2019:
(a) In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio; all prior periods were revised for comparability.
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| Financing Receivable Credit Quality Indicators | The following tables provide the amortized cost basis of the commercial loan portfolio by year of origination and credit quality indicator as of June 30, 2020:
The following table provides the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of December 31, 2019.
(a) Balances presented net of a $19.1 million valuation allowance. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for consumer real estate as of June 30, 2020. Within consumer real estate, classes include home equity line of credit ("HELOC") and real estate installment. HELOCs are loans which during their draw period are classified as revolving loans. Once the draw period ends and the loan enters its repayment period, the loan converts to a term loan and is classified as revolving loans converted to term loans. All loans classified in the following table as revolving loans or revolving loans converted to term loans are HELOCs. Real estate installment loans are originated as a fixed term loan and are classified below in their vintage year from prior to 2016 to 2020. All loans in the following table classified in a vintage year are real estate installment loans.
(a) $10.8 million of HELOC loans were converted from revolving to term in 2020. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for other consumer loans as of June 30, 2020.
(a) $3.9 million of other consumer loans were converted from revolving to term in 2020. The following table reflects the percentage of balances outstanding by average, refreshed FICO scores for the HELOC and real estate installment classes of loans as of December 31, 2019.
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| Accruing And Non-Accruing Loans By Class | The following table reflects accruing and non-accruing loans by class on June 30, 2020:
(a) $65.3 million of general C&I loans are nonaccrual loans with no related allowance. (b) TRUPS is presented net of an amortizing discount of $18.4 million. The following table reflects accruing and non-accruing loans by class on December 31, 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
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| Schedule Of Troubled Debt Restructurings Occurring During The Year | The following tables reflect portfolio loans that were classified as TDRs during the three and six months ended June 30, 2020 and 2019:
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| Schedule Of Troubled Debt Restructurings Within The Previous 12 Months | The following tables present TDRs which re-defaulted during the three and six months ended June 30, 2020 and 2019, and as to which the modification occurred 12 months or less prior to the re-default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due.
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| Accrued Interest | AIR is included within Other assets in the Consolidated Condensed Statements of Condition and the amounts by portfolio segment are presented in the following table.
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| Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield Movement Schedule Rollforward | The following table presents a rollforward of the accretable yield for the year ended December 31, 2019:
(b) Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows.
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| Schedule of Acquired Purchase Credit Impaired Loans by Portfolio Segment | The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of December 31, 2019:
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| Information By Class Related To Individually Impaired Loans | The following tables provide information at December 31, 2019 by class related to individually impaired loans and consumer TDRs, regardless of accrual status. Recorded investment is defined as the amount of the investment in a loan, excluding any valuation allowance but including any direct write-down of the investment. For purposes of this disclosure, TRUPS valuation allowance has been excluded.
(a) All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance.
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Allowance for Loan Losses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Rollforward Of The Allowance For Loan Losses By Portfolio Segment | The following table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2020 and 2019:
a) In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. b) C&I loans as of June 30, 2020 include $2.1 billion in PPP loans which due to the government guarantee and forgiveness provisions are considered to have no credit risk and therefore have no allowance for loan losses. |
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Intangible Assets (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition | The following is a summary of other intangible assets included in the Consolidated Condensed Statements of Condition:
(b) Balance primarily includes noncompete covenants, as well as $.3 million related to state banking licenses not subject to amortization.
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| Schedule of Estimated Aggregate Amortization Expense for Intangible Assets | As of June 30, 2020 the estimated aggregated amortization expense is expected to be:
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| Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments | The following is a summary of goodwill by reportable segment included in the Consolidated Condensed Statements of Condition as of June 30, 2020 and December 31, 2019.
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Other Income And Other Expense (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Nonoperating Income (Expense) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income And Other Expense | Following is detail of All other income and commissions and All other expense as presented in the Consolidated Condensed Statements of Income:
Certain previously reported amounts have been reclassified to agree with current presentation.
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Components of Other Comprehensive Income/(loss) (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income/(Loss) | The following table provides the changes in accumulated other comprehensive income/(loss) by component, net of tax, for the three and six months ended June 30, 2020 and 2019:
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| Reclassification Out Of Accumulated Other Comprehensive Income | Reclassifications from AOCI, and related tax effects, were as follows:
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Earnings Per Share (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Reconciliation Of Earnings/(Loss) Per Common And Diluted Share | The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding:
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| Schedule of Anti-Dilutive Options and Awards | The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met:
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Pension, Savings, And Other Employee Benefits (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits, Description [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Net Periodic Benefit Cost | The components of net periodic benefit cost for the three months ended June 30 are as follows:
The components of net periodic benefit cost for the six months ended June 30 are as follows:
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Business Segment Information (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting, Measurement Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Amounts Of Consolidated Revenue, Expense, Tax And Assets | The following table reflects the amounts of consolidated revenue, expense, tax, and average assets for each segment for the three and six months ended June 30:
The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended June 30, 2020 and 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
Codification ("ASC") 606, "Revenue From Contracts With Customers."
total non-interest income.
606. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the six months ended June 30, 2020 and 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
Codification ("ASC") 606, "Revenue From Contracts With Customers."
total non-interest income.
606.
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Variable Interest Entities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Variable Interest Entities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of VIEs Consolidated By FHN | The following table summarizes the carrying value of assets and liabilities associated with rabbi trusts used for deferred compensation plans which are consolidated by FHN as of June 30, 2020 and December 31, 2019:
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| Summary of the Impact of Qualifying LIHTC Investments | The following table summarizes the impact to the Provision/(benefit) for income taxes on the Consolidated Condensed Statements of Income for the three and six months ended June 30, 2020, and 2019 for LIHTC investments accounted for under the proportional amortization method.
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| Summary Of VIEs Not Consolidated By FHN | The following table summarizes FHN’s nonconsolidated VIEs as of June 30, 2020:
The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2019:
(i) No exposure to loss due to nature of FHN's involvement.
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Derivatives (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2020 and December 31, 2019:
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| 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, 2020 and December 31, 2019:
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| 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, 2020 and 2019:
(c) Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.
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| Derivative Associated With Cash Flow Hedges | The following tables summarize FHN’s derivative activities associated with cash flow hedges as of June 30, 2020 and December 31, 2019:
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| Gains/(Losses) on Derivatives Associated with Cash Flow Hedges | The following table summarizes gains/(losses) on FHN’s derivatives associated with cash flow hedges for the three and six months ended June 30, 2020 and 2019:
(a) Approximately $9.6 million of pre-tax gains are expected to be reclassified into earnings in the next twelve months.
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| 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, 2020 and December 31, 2019:
(a) Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of June 30, 2020 and December 31, 2019, $.3 million and $.1 million, respectively, of derivative assets have been excluded from these tables because they are generally not subject to master netting or similar agreements.
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| 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, 2020 and December 31, 2019:
(a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of June 30, 2020 and December 31, 2019, $19.2 million and $23.2 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
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Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Offsetting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties | 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, 2020 and December 31, 2019:
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| Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company | 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, 2020 and December 31, 2019:
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| Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase | The following tables provide details, by collateral type, of the remaining contractual maturity of Securities sold under agreements to repurchase as of June 30, 2020 and December 31, 2019:
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Fair Value of Assets & Liabilities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 June 30, 2020:
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2019:
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| 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 June 30, 2020 and 2019, on a recurring basis are summarized as follows:
The changes in Level 3 assets and liabilities measured at fair value for the six months ended June 30, 2020 and 2019, on a recurring basis are summarized as follows:
(d) Included in Other expense.
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| Nonrecurring Fair Value Measurements | For assets measured at fair value on a nonrecurring basis which were still held on the Consolidated Condensed Statements of Condition at June 30, 2020, and December 31, 2019, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.
(c) Represents tax credit investments accounted for under the equity method
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gains/(losses) on Nonrecurring Fair Value Measurements | For assets measured on a nonrecurring basis which were still held on the Consolidated Condensed Statements of Condition at period end, the following table provides information about the fair value adjustments recorded during the three and six months ended June 30, 2020 and 2019:
(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 June 30, 2020 and December 31, 2019:
NM - Not meaningful.
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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:
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| 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 June 30, 2020:
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, 2019:
Certain previously reported amounts have been reclassified to agree with current presentation.
The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of June 30, 2020 and December 31, 2019:
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Restructuring, Repositioning, and Efficiency (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring Expense Recognized | Total expense recognized for the three and six months ended June 30, 2020 and 2019 is presented in the table below:
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Financial Information - Narrative (Details) $ in Millions |
6 Months Ended |
|---|---|
|
Jun. 30, 2020
USD ($)
| |
| Product Information [Line Items] | |
| Performance obligation, description of timing | one year or less |
| Non-Interest income | |
| Product Information [Line Items] | |
| Accounts receivable | $ 8.9 |
Financial Information - ASU 2016-13 (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Mar. 31, 2020 |
Jan. 01, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
| Loans, net of unearned income | $ 32,708,937 | [1] | $ 31,061,111 | [1] | $ 29,712,810 | ||||||
| Allowance for loan losses | 537,881 | $ 444,490 | 200,307 | $ 192,749 | $ 184,911 | $ 180,424 | |||||
| Other assets | 2,209,235 | 2,046,338 | |||||||||
| Other liabilities | 900,884 | 873,079 | |||||||||
| Undivided profits | 1,671,629 | 1,798,442 | |||||||||
| Total liabilities and equity | $ 48,644,659 | $ 43,310,900 | |||||||||
| Accounting Standards Update 2016-13 | |||||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
| Loans, net of unearned income | $ 2,980 | ||||||||||
| Allowance for loan losses | (106,394) | ||||||||||
| Other assets (deferred taxes) | 31,330 | ||||||||||
| Other assets | (72,084) | ||||||||||
| Other liabilities | 23,973 | ||||||||||
| Undivided profits | (96,057) | ||||||||||
| Total liabilities and equity | $ (72,084) | ||||||||||
| |||||||||||
Acquisitions and Divestitures - Narrative (Details) $ in Thousands |
Jul. 17, 2020
USD ($)
branch
|
Jul. 01, 2020
USD ($)
office
state
shares
|
Jun. 30, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Apr. 30, 2019
USD ($)
|
|---|---|---|---|---|---|
| Business Acquisition [Line Items] | |||||
| Assets | $ 48,644,659 | $ 43,310,900 | |||
| Total loans, net of unearned income and allowance for loan losses | 32,171,056 | 30,860,804 | |||
| Securities available-for-sale | 5,476,156 | 4,445,403 | |||
| Deposits | $ 37,759,351 | $ 32,429,535 | |||
| Subprime Consumer Loans | Discontinued Operations, Held-for-sale | |||||
| Business Acquisition [Line Items] | |||||
| Loans disposed of | $ 25,000 | ||||
| Subsequent Event | SunTrust Banks, Inc. Branches | |||||
| Business Acquisition [Line Items] | |||||
| Number of bank branches | branch | 30 | ||||
| Loans | $ 423,700 | ||||
| Deposits | $ 2,200,000 | ||||
| Deposits premium percent | 3.40% | ||||
| Subsequent Event | IBERIABANK (IBKC) | |||||
| Business Acquisition [Line Items] | |||||
| Equity interest issued, number of shares (in shares) | shares | 242,000,000 | ||||
| Equity interest issued, value assigned | $ 2,500,000 | ||||
| Number of offices | office | 319 | ||||
| Number of states | state | 12 | ||||
| Assets | $ 34,700,000 | ||||
| Total loans, net of unearned income and allowance for loan losses | 26,100,000 | ||||
| Securities available-for-sale | 3,500,000 | ||||
| Deposits | $ 28,300,000 | ||||
| Subsequent Event | NORTH CAROLINA | SunTrust Banks, Inc. Branches | |||||
| Business Acquisition [Line Items] | |||||
| Number of bank branches | branch | 20 | ||||
| Subsequent Event | VIRGINIA | SunTrust Banks, Inc. Branches | |||||
| Business Acquisition [Line Items] | |||||
| Number of bank branches | branch | 8 | ||||
| Subsequent Event | GEORGIA | SunTrust Banks, Inc. Branches | |||||
| Business Acquisition [Line Items] | |||||
| Number of bank branches | branch | 2 |
Acquisitions and Divestitures - Merger and Integration Expenses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | $ 4,865 | $ 8,647 | $ 9,037 | $ 14,307 |
| Professional fees | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 1,327 | 4,478 | 2,126 | 6,345 |
| Employee compensation, incentives and benefits | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 87 | 1,472 | 483 | 2,989 |
| Contract employment and outsourcing | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 420 | 17 | 726 | 17 |
| Occupancy | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | (82) | 1,505 | (107) | 1,623 |
| Miscellaneous expense | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 503 | 79 | 1,325 | 1,148 |
| All other expense | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 2,610 | $ 1,096 | 4,484 | $ 2,185 |
| IBERIABANK (IBKC) | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 9,456 | 11,061 | ||
| IBERIABANK (IBKC) | Professional fees | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 3,748 | 4,410 | ||
| IBERIABANK (IBKC) | Employee compensation, incentives and benefits | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | 4,705 | 5,394 | ||
| IBERIABANK (IBKC) | Miscellaneous expense | ||||
| Business Acquisition [Line Items] | ||||
| Merger and integration expense | $ 1,003 | $ 1,257 | ||
Investment Securities - Schedule Of FHN's Investment Securities (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | $ 5,293,746 | |
| Securities available-for-sale | 5,476,156 | $ 4,445,403 |
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Total | 10,000 | 10,000 |
| Securities held to maturity, gross unrealized gains | 0 | 1 |
| Securities held to maturity, gross unrealized losses | (119) | 0 |
| Securities held to maturity, fair value | 9,881 | 10,001 |
| Securities pledged as collateral | 4,700,000 | 3,800,000 |
| U.S. treasuries | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 999,974 | 100 |
| Securities available for sale, gross unrealized gains | 5 | 0 |
| Securities available for sale, gross unrealized losses | (4) | 0 |
| Securities available-for-sale | 999,975 | 100 |
| Government agency issued MBS | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 2,383,956 | 2,316,381 |
| Securities available for sale, gross unrealized gains | 103,506 | 34,692 |
| Securities available for sale, gross unrealized losses | (80) | (2,556) |
| Securities available-for-sale | 2,487,382 | 2,348,517 |
| Government agency issued CMO | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 1,383,703 | 1,667,773 |
| Securities available for sale, gross unrealized gains | 31,570 | 9,916 |
| Securities available for sale, gross unrealized losses | (8) | (7,197) |
| Securities available-for-sale | 1,415,265 | 1,670,492 |
| Other U.S. government agencies | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 403,008 | 303,463 |
| Securities available for sale, gross unrealized gains | 14,284 | 3,750 |
| Securities available for sale, gross unrealized losses | 0 | (1,121) |
| Securities available-for-sale | 417,292 | 306,092 |
| Corporates and other debt | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 39,950 | 40,054 |
| Securities available for sale, gross unrealized gains | 463 | 486 |
| Securities available for sale, gross unrealized losses | 0 | 0 |
| Securities available-for-sale | 40,413 | 40,540 |
| States and municipalities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 83,155 | 57,232 |
| Securities available for sale, gross unrealized gains | 7,228 | 3,324 |
| Securities available for sale, gross unrealized losses | 0 | (30) |
| Securities available-for-sale | 90,383 | 60,526 |
| Securities available-for-sale, excluding interest only strip: | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available for sale, amortized cost | 5,293,746 | 4,385,003 |
| Securities available for sale, gross unrealized gains | 157,056 | 52,168 |
| Securities available for sale, gross unrealized losses | (92) | (10,904) |
| Securities available-for-sale | 5,450,710 | 4,426,267 |
| Interest- only strips- AFS | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Securities available-for-sale | 25,446 | 19,136 |
| Corporate Bonds | ||
| Schedule of Held-to-maturity Securities [Line Items] | ||
| Total | 10,000 | 10,000 |
| Securities held to maturity, gross unrealized gains | 0 | 1 |
| Securities held to maturity, gross unrealized losses | (119) | 0 |
| Securities held to maturity, fair value | $ 9,881 | $ 10,001 |
Investment Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Held-to-Maturity, Amortized Cost | ||
| Within 1 year | $ 0 | |
| After 1 year; within 5 years | 0 | |
| After 5 years; within 10 years | 10,000 | |
| After 10 years | 0 | |
| Subtotal | 10,000 | |
| Government agency issued MBS and CMO | 0 | |
| Total | 10,000 | $ 10,000 |
| Held-to-Maturity, Fair Value | ||
| Within 1 year | 0 | |
| After 1 year; within 5 years | 0 | |
| After 5 years; within 10 years | 9,881 | |
| After 10 years | 0 | |
| Subtotal | 9,881 | |
| Government agency issued MBS and CMO | 0 | |
| Securities held to maturity, fair value | 9,881 | 10,001 |
| Available-for-Sale, Amortized Cost | ||
| Within 1 year | 1,106,238 | |
| After 1 year; within 5 years | 137,571 | |
| After 5 years; within 10 years | 3,573 | |
| After 10 years | 278,705 | |
| Subtotal | 1,526,087 | |
| Government agency issued MBS and CMO | 3,767,659 | |
| Securities available for sale, amortized cost | 5,293,746 | |
| Available-for-Sale, Fair Value | ||
| Within 1 year | 1,108,000 | |
| After 1 year; within 5 years | 142,491 | |
| After 5 years; within 10 years | 9,623 | |
| After 10 years | 313,395 | |
| Subtotal | 1,573,509 | |
| Government agency issued MBS and CMO | 3,902,647 | |
| Securities available-for-sale | $ 5,476,156 | $ 4,445,403 |
Investment Securities - Schedule Of Realized Gross Gains And Losses On Sale From Available For Sale Portfolio (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Marketable Securities [Abstract] | ||||
| Gross gains on sales of securities | $ 0 | $ 0 | $ 0 | $ 0 |
| Gross (losses) on sales of securities | 0 | (267) | 0 | (267) |
| Net gain/(loss) on sales of securities | $ 0 | (267) | $ 0 | (267) |
| Cash proceeds | $ 171,400 | $ 171,400 | ||
Investment Securities - Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Schedule of Investments [Line Items] | ||
| Less than 12 months | $ 556,675 | $ 655,820 |
| 12 months or longer | 0 | 553,979 |
| Total fair value | 556,675 | 1,209,799 |
| Unrealized Losses | ||
| Less than 12 months | (92) | (3,616) |
| 12 months or longer | 0 | (7,288) |
| Total unrealized losses | (92) | (10,904) |
| U.S. treasuries | ||
| Schedule of Investments [Line Items] | ||
| Less than 12 months | 499,895 | 0 |
| 12 months or longer | 0 | 100 |
| Total fair value | 499,895 | 100 |
| Unrealized Losses | ||
| Less than 12 months | (4) | 0 |
| 12 months or longer | 0 | 0 |
| Total unrealized losses | (4) | 0 |
| Government agency issued MBS | ||
| Schedule of Investments [Line Items] | ||
| Less than 12 months | 40,798 | 174,983 |
| 12 months or longer | 0 | 192,755 |
| Total fair value | 40,798 | 367,738 |
| Unrealized Losses | ||
| Less than 12 months | (80) | (495) |
| 12 months or longer | 0 | (2,061) |
| Total unrealized losses | (80) | (2,556) |
| Government agency issued CMO | ||
| Schedule of Investments [Line Items] | ||
| Less than 12 months | 15,982 | 378,815 |
| 12 months or longer | 0 | 361,124 |
| Total fair value | 15,982 | 739,939 |
| Unrealized Losses | ||
| Less than 12 months | (8) | (1,970) |
| 12 months or longer | 0 | (5,227) |
| Total unrealized losses | $ (8) | (7,197) |
| Other U.S. government agencies | ||
| Schedule of Investments [Line Items] | ||
| Less than 12 months | 98,471 | |
| 12 months or longer | 0 | |
| Total fair value | 98,471 | |
| Unrealized Losses | ||
| Less than 12 months | (1,121) | |
| 12 months or longer | 0 | |
| Total unrealized losses | (1,121) | |
| States and municipalities | ||
| Schedule of Investments [Line Items] | ||
| Less than 12 months | 3,551 | |
| 12 months or longer | 0 | |
| Total fair value | 3,551 | |
| Unrealized Losses | ||
| Less than 12 months | (30) | |
| 12 months or longer | 0 | |
| Total unrealized losses | $ (30) |
Investment Securities - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2019 |
|
| Marketable Securities [Abstract] | |||||
| Debt securities, AFS, accrued interest receivable | $ 12.4 | $ 12.4 | |||
| Carrying amount of equity investments without a readily determinable fair value | 24.7 | 24.7 | $ 25.6 | ||
| Unrealized gain (loss) for equity investments with readily determinable fair values | $ 4.8 | $ 1.2 | $ (0.9) | $ 4.6 | |
Loans - Schedule Of Loans By Portfolio Segment (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
||||
|---|---|---|---|---|---|---|---|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 32,708,937 | [1] | $ 31,061,111 | [1] | $ 29,712,810 | |||||
| Allowance for loan losses | 537,881 | $ 444,490 | 200,307 | 192,749 | $ 184,911 | $ 180,424 | ||||
| Total net loans | 32,171,056 | 30,860,804 | ||||||||
| Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Allowance for loan losses | 158,598 | |||||||||
| Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 21,393,893 | 20,051,091 | 19,054,269 | |||||||
| Allowance for loan losses | 318,722 | 254,516 | 122,486 | 116,096 | 103,713 | 98,947 | ||||
| Commercial | Commercial real estate | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 4,813,341 | 4,337,017 | 3,861,031 | |||||||
| Allowance for loan losses | 57,285 | 47,625 | 36,112 | 32,953 | 34,382 | 31,311 | ||||
| Consumer | Consumer real estate | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 6,052,393 | 6,177,139 | 6,303,134 | |||||||
| Allowance for loan losses | 143,757 | 123,022 | 28,443 | 31,532 | 34,154 | 37,439 | ||||
| Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 449,310 | 495,864 | 494,376 | |||||||
| Allowance for loan losses | $ 18,117 | $ 19,327 | $ 13,266 | $ 12,168 | $ 12,662 | $ 12,727 | ||||
| ||||||||||
Loans - Asset Quality Indicators (Details) |
Jun. 30, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
[1] |
Jun. 30, 2019
USD ($)
|
|||
|---|---|---|---|---|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Loans, net of unearned income | $ 32,708,937,000 | [1] | $ 31,061,111,000 | $ 29,712,810,000 | |||
| Commercial | PD Grade 1 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Lowest expected default probability | 1 | ||||||
| Commercial | Loss | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 16 | ||||||
| Commercial | Special Mention | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 13 | ||||||
| Commercial | Substandard | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 14 | ||||||
| Commercial | Doubtful | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 15 | ||||||
| Commercial | Minimum | Pass | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 1 | ||||||
| Commercial | Minimum | Special Mention | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 13 | ||||||
| Commercial | Minimum | Loan Reassessed | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Loans, net of unearned income | $ 1,000,000 | ||||||
| Commercial | Minimum | PD Grade 13 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Loans, net of unearned income | $ 500,000 | ||||||
| Commercial | Minimum | LGD Grade 1 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 1 | ||||||
| Commercial | Maximum | Loss | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 16 | ||||||
| Commercial | Maximum | Pass | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 12 | ||||||
| Commercial | Maximum | LGD Grade 12 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Commercial loan grades | 12 | ||||||
| |||||||
Loans - Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade (Details) - USD ($) $ in Thousands |
6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
|||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Collectively evaluated for impairment | $ 32,419,020 | $ 29,343,285 | |||||
| Individually evaluated for impairment | 289,917 | 300,726 | |||||
| Total loans, net of unearned income | 32,708,937 | [1] | $ 31,061,111 | [1] | 29,712,810 | ||
| Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Collectively evaluated for impairment | 24,273,207 | ||||||
| Individually evaluated for impairment | 84,001 | ||||||
| C&I | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 4,203,052 | ||||||
| 2020, Collectively evaluated for impairment | 4,181,906 | ||||||
| 2020, Individually evaluated for impairment | 21,146 | ||||||
| 2019 | 4,009,508 | ||||||
| 2019, Collectively evaluated for impairment | 4,002,895 | ||||||
| 2019, Individually evaluated for impairment | 6,613 | ||||||
| 2018 | 1,781,274 | ||||||
| 2018, Collectively evaluated for impairment | 1,768,820 | ||||||
| 2018, Individually evaluated for impairment | 12,454 | ||||||
| 2017 | 1,329,918 | ||||||
| 2017, Collectively evaluated for impairment | 1,307,923 | ||||||
| 2017, Individually evaluated for impairment | 21,995 | ||||||
| 2016 | 1,022,537 | ||||||
| 2016, Collectively evaluated for impairment | 1,020,628 | ||||||
| 2016, Individually evaluated for impairment | 1,909 | ||||||
| Prior to 2016 | 1,304,683 | ||||||
| Prior to 2016, Collectively evaluated for impairment | 1,282,569 | ||||||
| Prior to 2016, Individually evaluated for impairment | 22,114 | ||||||
| Non-revolving loans | 4,020,591 | ||||||
| Non-revolving, collectively evaluated for impairment | 4,020,591 | ||||||
| Non-revolving, individually evaluated for impairment | 0 | ||||||
| Revolving Loans | 3,612,908 | ||||||
| Revolving, collectively evaluated for impairment | 3,562,589 | ||||||
| Revolving, individually evaluated for impairment | 50,319 | ||||||
| Revolving Loans converted to term loans (c) | 109,422 | ||||||
| Revolving loans converted to term loans, collectively evaluated for impairment | 105,446 | ||||||
| Revolving loans converted to term loan, Individually evaluated for impairment | 3,976 | ||||||
| Collectively evaluated for impairment | 21,253,367 | 18,904,621 | |||||
| Individually evaluated for impairment | 140,526 | 115,808 | |||||
| Total loans, net of unearned income | 21,393,893 | 20,051,091 | 19,054,269 | ||||
| Revolving loan converted to term loan during period | 22,700 | ||||||
| C&I | C&I | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Collectively evaluated for impairment | 15,313,558 | ||||||
| Individually evaluated for impairment | 82,438 | ||||||
| Total loans, net of unearned income | 17,164,125 | 15,395,996 | |||||
| C&I | Loans to Mortgage Companies | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Collectively evaluated for impairment | 4,410,883 | ||||||
| Individually evaluated for impairment | 0 | ||||||
| Total loans, net of unearned income | 4,020,591 | 4,410,883 | |||||
| C&I | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 209,200 | ||||||
| Collectively evaluated for impairment | 218,287 | ||||||
| Individually evaluated for impairment | 0 | ||||||
| Total loans, net of unearned income | 209,177 | 218,287 | |||||
| C&I | PD Grade 1 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 2,078,712 | ||||||
| 2019 | 99,978 | ||||||
| 2018 | 121,167 | ||||||
| 2017 | 75,521 | ||||||
| 2016 | 106,700 | ||||||
| Prior to 2016 | 108,574 | ||||||
| Non-revolving loans | 0 | ||||||
| Revolving Loans | 83,309 | ||||||
| Revolving Loans converted to term loans (c) | 56 | ||||||
| Total loans, net of unearned income | 2,674,017 | ||||||
| C&I | PD Grade 2 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 56,810 | ||||||
| 2019 | 223,191 | ||||||
| 2018 | 100,816 | ||||||
| 2017 | 79,318 | ||||||
| 2016 | 168,838 | ||||||
| Prior to 2016 | 90,484 | ||||||
| Non-revolving loans | 0 | ||||||
| Revolving Loans | 95,035 | ||||||
| Revolving Loans converted to term loans (c) | 126 | ||||||
| Total loans, net of unearned income | 814,618 | ||||||
| C&I | PD Grade 3 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 42,983 | ||||||
| 2019 | 153,671 | ||||||
| 2018 | 49,176 | ||||||
| 2017 | 89,945 | ||||||
| 2016 | 30,381 | ||||||
| Prior to 2016 | 97,338 | ||||||
| Non-revolving loans | 741,382 | ||||||
| Revolving Loans | 125,470 | ||||||
| Revolving Loans converted to term loans (c) | 3,490 | ||||||
| Total loans, net of unearned income | 1,333,836 | ||||||
| C&I | PD Grade 3 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 3,300 | ||||||
| C&I | PD Grade 4 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 261,626 | ||||||
| 2019 | 335,130 | ||||||
| 2018 | 145,047 | ||||||
| 2017 | 122,185 | ||||||
| 2016 | 129,859 | ||||||
| Prior to 2016 | 142,129 | ||||||
| Non-revolving loans | 685,876 | ||||||
| Revolving Loans | 259,379 | ||||||
| Revolving Loans converted to term loans (c) | 10,653 | ||||||
| Total loans, net of unearned income | 2,091,884 | ||||||
| C&I | PD Grade 4 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 60,900 | ||||||
| C&I | PD Grade 5 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 304,710 | ||||||
| 2019 | 496,565 | ||||||
| 2018 | 220,632 | ||||||
| 2017 | 145,650 | ||||||
| 2016 | 96,325 | ||||||
| Prior to 2016 | 163,676 | ||||||
| Non-revolving loans | 700,944 | ||||||
| Revolving Loans | 384,874 | ||||||
| Revolving Loans converted to term loans (c) | 12,654 | ||||||
| Total loans, net of unearned income | 2,526,030 | ||||||
| C&I | PD Grade 5 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 47,900 | ||||||
| C&I | PD Grade 6 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 360,649 | ||||||
| 2019 | 714,704 | ||||||
| 2018 | 246,607 | ||||||
| 2017 | 195,634 | ||||||
| 2016 | 53,597 | ||||||
| Prior to 2016 | 155,755 | ||||||
| Non-revolving loans | 1,198,775 | ||||||
| Revolving Loans | 667,570 | ||||||
| Revolving Loans converted to term loans (c) | 558 | ||||||
| Total loans, net of unearned income | 3,593,849 | ||||||
| C&I | PD Grade 6 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 38,600 | ||||||
| C&I | PD Grade 7 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 309,088 | ||||||
| 2019 | 723,728 | ||||||
| 2018 | 339,953 | ||||||
| 2017 | 145,385 | ||||||
| 2016 | 100,069 | ||||||
| Prior to 2016 | 171,016 | ||||||
| Non-revolving loans | 552,192 | ||||||
| Revolving Loans | 598,772 | ||||||
| Revolving Loans converted to term loans (c) | 48,291 | ||||||
| Total loans, net of unearned income | 2,988,494 | ||||||
| C&I | PD Grade 7 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 13,400 | ||||||
| C&I | PD Grade 8 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 343,391 | ||||||
| 2019 | 593,106 | ||||||
| 2018 | 194,030 | ||||||
| 2017 | 175,289 | ||||||
| 2016 | 36,044 | ||||||
| Prior to 2016 | 96,204 | ||||||
| Non-revolving loans | 93,900 | ||||||
| Revolving Loans | 379,261 | ||||||
| Revolving Loans converted to term loans (c) | 7,110 | ||||||
| Total loans, net of unearned income | 1,918,335 | ||||||
| C&I | PD Grade 9 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 171,524 | ||||||
| 2019 | 293,768 | ||||||
| 2018 | 89,519 | ||||||
| 2017 | 66,927 | ||||||
| 2016 | 65,539 | ||||||
| Prior to 2016 | 75,753 | ||||||
| Non-revolving loans | 25,198 | ||||||
| Revolving Loans | 283,883 | ||||||
| Revolving Loans converted to term loans (c) | 10,670 | ||||||
| Total loans, net of unearned income | 1,082,781 | ||||||
| C&I | PD Grade 9 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 20,700 | ||||||
| C&I | PD Grade 10 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 96,735 | ||||||
| 2019 | 171,901 | ||||||
| 2018 | 85,644 | ||||||
| 2017 | 60,721 | ||||||
| 2016 | 50,429 | ||||||
| Prior to 2016 | 54,729 | ||||||
| Non-revolving loans | 15,325 | ||||||
| Revolving Loans | 227,301 | ||||||
| Revolving Loans converted to term loans (c) | 5,082 | ||||||
| Total loans, net of unearned income | 767,867 | ||||||
| C&I | PD Grade 10 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 18,600 | ||||||
| C&I | PD Grade 11 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 53,872 | ||||||
| 2019 | 82,677 | ||||||
| 2018 | 74,977 | ||||||
| 2017 | 58,964 | ||||||
| 2016 | 70,190 | ||||||
| Prior to 2016 | 38,059 | ||||||
| Non-revolving loans | 0 | ||||||
| Revolving Loans | 148,656 | ||||||
| Revolving Loans converted to term loans (c) | 3,233 | ||||||
| Total loans, net of unearned income | 530,628 | ||||||
| C&I | PD Grade 12 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 51,861 | ||||||
| 2019 | 33,083 | ||||||
| 2018 | 52,013 | ||||||
| 2017 | 47,162 | ||||||
| 2016 | 20,214 | ||||||
| Prior to 2016 | 29,674 | ||||||
| Non-revolving loans | 6,999 | ||||||
| Revolving Loans | 95,943 | ||||||
| Revolving Loans converted to term loans (c) | 477 | ||||||
| Total loans, net of unearned income | 337,426 | ||||||
| C&I | PD Grade 13 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 39,047 | ||||||
| 2019 | 57,585 | ||||||
| 2018 | 10,231 | ||||||
| 2017 | 15,916 | ||||||
| 2016 | 51,816 | ||||||
| Prior to 2016 | 45,984 | ||||||
| Non-revolving loans | 0 | ||||||
| Revolving Loans | 114,971 | ||||||
| Revolving Loans converted to term loans (c) | 498 | ||||||
| Total loans, net of unearned income | 336,048 | ||||||
| C&I | PD Grade 13 | TRUPS | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Prior to 2016 | 5,800 | ||||||
| C&I | PD Grade 14 15 16 | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 10,898 | ||||||
| 2019 | 23,808 | ||||||
| 2018 | 39,008 | ||||||
| 2017 | 29,306 | ||||||
| 2016 | 40,627 | ||||||
| Prior to 2016 | 13,194 | ||||||
| Non-revolving loans | 0 | ||||||
| Revolving Loans | 98,165 | ||||||
| Revolving Loans converted to term loans (c) | 2,548 | ||||||
| Total loans, net of unearned income | 257,554 | ||||||
| Commercial real estate | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Collectively evaluated for impairment | 4,813,181 | 3,852,027 | |||||
| Individually evaluated for impairment | 160 | 1,777 | |||||
| Total loans, net of unearned income | 4,813,341 | 4,337,017 | $ 3,861,031 | ||||
| Commercial real estate | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 1,061,575 | ||||||
| 2020, Collectively evaluated for impairment | 1,061,575 | ||||||
| 2020, Individually evaluated for impairment | 0 | ||||||
| 2019 | 1,510,795 | ||||||
| 2019, Collectively evaluated for impairment | 1,510,795 | ||||||
| 2019, Individually evaluated for impairment | 0 | ||||||
| 2018 | 659,682 | ||||||
| 2018, Collectively evaluated for impairment | 659,682 | ||||||
| 2018, Individually evaluated for impairment | 0 | ||||||
| 2017 | 571,891 | ||||||
| 2017, Collectively evaluated for impairment | 571,891 | ||||||
| 2017, Individually evaluated for impairment | 0 | ||||||
| 2016 | 348,257 | ||||||
| 2016, Collectively evaluated for impairment | 348,257 | ||||||
| 2016, Individually evaluated for impairment | 0 | ||||||
| Prior to 2016 | 389,834 | ||||||
| Prior to 2016, Collectively evaluated for impairment | 389,674 | ||||||
| Prior to 2016, Individually evaluated for impairment | 160 | ||||||
| Revolving Loans | 209,206 | ||||||
| Revolving, collectively evaluated for impairment | 209,206 | ||||||
| Revolving, individually evaluated for impairment | 0 | ||||||
| Revolving Loans converted to term loans (c) | 17,483 | ||||||
| Revolving loans converted to term loans, collectively evaluated for impairment | 17,483 | ||||||
| Revolving loans converted to term loan, Individually evaluated for impairment | 0 | ||||||
| Collectively evaluated for impairment | 4,768,563 | 4,242,519 | |||||
| Individually evaluated for impairment | 160 | 1,563 | |||||
| Total loans, net of unearned income | 4,768,723 | 4,244,082 | |||||
| Commercial real estate | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 21,652 | ||||||
| 2020, Collectively evaluated for impairment | 21,652 | ||||||
| 2020, Individually evaluated for impairment | 0 | ||||||
| 2019 | 13,407 | ||||||
| 2019, Collectively evaluated for impairment | 13,407 | ||||||
| 2019, Individually evaluated for impairment | 0 | ||||||
| 2018 | 4,459 | ||||||
| 2018, Collectively evaluated for impairment | 4,459 | ||||||
| 2018, Individually evaluated for impairment | 0 | ||||||
| 2017 | 2,747 | ||||||
| 2017, Collectively evaluated for impairment | 2,747 | ||||||
| 2017, Individually evaluated for impairment | 0 | ||||||
| 2016 | 602 | ||||||
| 2016, Collectively evaluated for impairment | 602 | ||||||
| 2016, Individually evaluated for impairment | 0 | ||||||
| Prior to 2016 | 1,638 | ||||||
| Prior to 2016, Collectively evaluated for impairment | 1,638 | ||||||
| Prior to 2016, Individually evaluated for impairment | 0 | ||||||
| Revolving Loans | 113 | ||||||
| Revolving, collectively evaluated for impairment | 113 | ||||||
| Revolving, individually evaluated for impairment | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Revolving loans converted to term loans, collectively evaluated for impairment | 0 | ||||||
| Revolving loans converted to term loan, Individually evaluated for impairment | 0 | ||||||
| Collectively evaluated for impairment | 44,618 | 87,960 | |||||
| Individually evaluated for impairment | 0 | 0 | |||||
| Total loans, net of unearned income | 44,618 | $ 87,960 | |||||
| Commercial real estate | PD Grade 1 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 21,886 | ||||||
| 2019 | 0 | ||||||
| 2018 | 392 | ||||||
| 2017 | 106 | ||||||
| 2016 | 158 | ||||||
| Prior to 2016 | 1,190 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 23,732 | ||||||
| Commercial real estate | PD Grade 1 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 0 | ||||||
| 2019 | 0 | ||||||
| 2018 | 0 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 20 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 20 | ||||||
| Commercial real estate | PD Grade 2 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 7,798 | ||||||
| 2019 | 30,919 | ||||||
| 2018 | 405 | ||||||
| 2017 | 216 | ||||||
| 2016 | 617 | ||||||
| Prior to 2016 | 3,145 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 43,100 | ||||||
| Commercial real estate | PD Grade 2 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 0 | ||||||
| 2019 | 0 | ||||||
| 2018 | 0 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 0 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 0 | ||||||
| Commercial real estate | PD Grade 3 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 97,338 | ||||||
| 2019 | 212,413 | ||||||
| 2018 | 75,483 | ||||||
| 2017 | 34,863 | ||||||
| 2016 | 42,468 | ||||||
| Prior to 2016 | 25,511 | ||||||
| Revolving Loans | 78,004 | ||||||
| Revolving Loans converted to term loans (c) | 181 | ||||||
| Total loans, net of unearned income | 566,261 | ||||||
| Commercial real estate | PD Grade 3 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 0 | ||||||
| 2019 | 151 | ||||||
| 2018 | 268 | ||||||
| 2017 | 482 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 95 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 996 | ||||||
| Commercial real estate | PD Grade 4 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 90,915 | ||||||
| 2019 | 292,657 | ||||||
| 2018 | 100,058 | ||||||
| 2017 | 130,549 | ||||||
| 2016 | 94,836 | ||||||
| Prior to 2016 | 45,975 | ||||||
| Revolving Loans | 839 | ||||||
| Revolving Loans converted to term loans (c) | 238 | ||||||
| Total loans, net of unearned income | 756,067 | ||||||
| Commercial real estate | PD Grade 4 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 0 | ||||||
| 2019 | 722 | ||||||
| 2018 | 0 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 106 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 828 | ||||||
| Commercial real estate | PD Grade 5 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 320,904 | ||||||
| 2019 | 279,229 | ||||||
| 2018 | 138,520 | ||||||
| 2017 | 152,573 | ||||||
| 2016 | 112,018 | ||||||
| Prior to 2016 | 45,048 | ||||||
| Revolving Loans | 37,306 | ||||||
| Revolving Loans converted to term loans (c) | 6,224 | ||||||
| Total loans, net of unearned income | 1,091,822 | ||||||
| Commercial real estate | PD Grade 5 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 93 | ||||||
| 2019 | 0 | ||||||
| 2018 | 0 | ||||||
| 2017 | 0 | ||||||
| 2016 | 76 | ||||||
| Prior to 2016 | 12 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 181 | ||||||
| Commercial real estate | PD Grade 6 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 264,892 | ||||||
| 2019 | 215,714 | ||||||
| 2018 | 125,075 | ||||||
| 2017 | 107,697 | ||||||
| 2016 | 33,716 | ||||||
| Prior to 2016 | 119,742 | ||||||
| Revolving Loans | 37,800 | ||||||
| Revolving Loans converted to term loans (c) | 7,930 | ||||||
| Total loans, net of unearned income | 912,566 | ||||||
| Commercial real estate | PD Grade 6 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 14,512 | ||||||
| 2019 | 106 | ||||||
| 2018 | 43 | ||||||
| 2017 | 333 | ||||||
| 2016 | 30 | ||||||
| Prior to 2016 | 234 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 15,258 | ||||||
| Commercial real estate | PD Grade 7 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 164,896 | ||||||
| 2019 | 293,784 | ||||||
| 2018 | 121,601 | ||||||
| 2017 | 64,796 | ||||||
| 2016 | 20,076 | ||||||
| Prior to 2016 | 24,648 | ||||||
| Revolving Loans | 40,187 | ||||||
| Revolving Loans converted to term loans (c) | 1,224 | ||||||
| Total loans, net of unearned income | 731,212 | ||||||
| Commercial real estate | PD Grade 7 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 348 | ||||||
| 2019 | 470 | ||||||
| 2018 | 2,904 | ||||||
| 2017 | 1,776 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 241 | ||||||
| Revolving Loans | 13 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 5,752 | ||||||
| Commercial real estate | PD Grade 8 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 23,028 | ||||||
| 2019 | 93,700 | ||||||
| 2018 | 55,579 | ||||||
| 2017 | 11,850 | ||||||
| 2016 | 28,382 | ||||||
| Prior to 2016 | 50,403 | ||||||
| Revolving Loans | 6,845 | ||||||
| Revolving Loans converted to term loans (c) | 128 | ||||||
| Total loans, net of unearned income | 269,915 | ||||||
| Commercial real estate | PD Grade 8 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 467 | ||||||
| 2019 | 24 | ||||||
| 2018 | 443 | ||||||
| 2017 | 0 | ||||||
| 2016 | 6 | ||||||
| Prior to 2016 | 89 | ||||||
| Revolving Loans | 100 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 1,129 | ||||||
| Commercial real estate | PD Grade 9 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 35,357 | ||||||
| 2019 | 36,942 | ||||||
| 2018 | 25,157 | ||||||
| 2017 | 22,936 | ||||||
| 2016 | 2,219 | ||||||
| Prior to 2016 | 19,126 | ||||||
| Revolving Loans | 280 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 142,017 | ||||||
| Commercial real estate | PD Grade 9 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 325 | ||||||
| 2019 | 520 | ||||||
| 2018 | 262 | ||||||
| 2017 | 0 | ||||||
| 2016 | 490 | ||||||
| Prior to 2016 | 76 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 1,673 | ||||||
| Commercial real estate | PD Grade 10 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 23,623 | ||||||
| 2019 | 8,323 | ||||||
| 2018 | 7,323 | ||||||
| 2017 | 2,803 | ||||||
| 2016 | 9,125 | ||||||
| Prior to 2016 | 17,320 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 68,517 | ||||||
| Commercial real estate | PD Grade 10 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 179 | ||||||
| 2019 | 960 | ||||||
| 2018 | 277 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 6 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 1,422 | ||||||
| Commercial real estate | PD Grade 11 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 6,936 | ||||||
| 2019 | 21,414 | ||||||
| 2018 | 6,890 | ||||||
| 2017 | 7,347 | ||||||
| 2016 | 3,862 | ||||||
| Prior to 2016 | 19,638 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 1,330 | ||||||
| Total loans, net of unearned income | 67,417 | ||||||
| Commercial real estate | PD Grade 11 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 4,093 | ||||||
| 2019 | 8,660 | ||||||
| 2018 | 218 | ||||||
| 2017 | 156 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 50 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 13,177 | ||||||
| Commercial real estate | PD Grade 12 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 2,962 | ||||||
| 2019 | 14,437 | ||||||
| 2018 | 2,383 | ||||||
| 2017 | 905 | ||||||
| 2016 | 652 | ||||||
| Prior to 2016 | 13,476 | ||||||
| Revolving Loans | 64 | ||||||
| Revolving Loans converted to term loans (c) | 228 | ||||||
| Total loans, net of unearned income | 35,107 | ||||||
| Commercial real estate | PD Grade 12 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 154 | ||||||
| 2019 | 1,530 | ||||||
| 2018 | 44 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 538 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 2,266 | ||||||
| Commercial real estate | PD Grade 13 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 525 | ||||||
| 2019 | 455 | ||||||
| 2018 | 771 | ||||||
| 2017 | 16,185 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 570 | ||||||
| Revolving Loans | 328 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 18,834 | ||||||
| Commercial real estate | PD Grade 13 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 1,310 | ||||||
| 2019 | 0 | ||||||
| 2018 | 0 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 132 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 1,442 | ||||||
| Commercial real estate | PD Grade 14 15 16 | Income CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 515 | ||||||
| 2019 | 10,808 | ||||||
| 2018 | 45 | ||||||
| 2017 | 19,065 | ||||||
| 2016 | 128 | ||||||
| Prior to 2016 | 3,882 | ||||||
| Revolving Loans | 7,553 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | 41,996 | ||||||
| Commercial real estate | PD Grade 14 15 16 | Residential CRE | Commercial | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 171 | ||||||
| 2019 | 264 | ||||||
| 2018 | 0 | ||||||
| 2017 | 0 | ||||||
| 2016 | 0 | ||||||
| Prior to 2016 | 39 | ||||||
| Revolving Loans | 0 | ||||||
| Revolving Loans converted to term loans (c) | 0 | ||||||
| Total loans, net of unearned income | $ 474 | ||||||
| |||||||
Loans - Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade and Sub Class (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|---|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Allowance for loan losses | $ 537,881 | $ 444,490 | $ 200,307 | $ 192,749 | $ 184,911 | $ 180,424 |
| Collectively evaluated for impairment | 32,419,020 | 29,343,285 | ||||
| Allowance - collectively evaluated for impairment | 507,677 | 159,579 | ||||
| Individually evaluated for impairment | 289,917 | 300,726 | ||||
| Allowance - individually evaluated for impairment | 30,204 | 31,181 | ||||
| Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 24,388,108 | |||||
| Loan balances percentage of total | 100.00% | |||||
| Allowance for loan losses | $ 158,598 | |||||
| Collectively evaluated for impairment | $ 24,273,207 | |||||
| Percent loan collectively evaluated for impairment | 100.00% | |||||
| Allowance - collectively evaluated for impairment | $ 151,554 | |||||
| Individually evaluated for impairment | $ 84,001 | |||||
| Percent loan individually evaluated for impairment | 0.00% | |||||
| Allowance - individually evaluated for impairment | $ 6,196 | |||||
| Purchased credit-impaired loans | $ 30,900 | |||||
| Percent loan purchased credit impaired | 0.00% | |||||
| Allowance - purchased credit-impaired loans | $ 848 | |||||
| Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Allowance for loan losses | 318,722 | 254,516 | 122,486 | 116,096 | 103,713 | 98,947 |
| Collectively evaluated for impairment | 21,253,367 | 18,904,621 | ||||
| Allowance - collectively evaluated for impairment | 302,145 | 106,758 | ||||
| Individually evaluated for impairment | 140,526 | 115,808 | ||||
| Allowance - individually evaluated for impairment | 16,577 | 8,484 | ||||
| Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Allowance for loan losses | 57,285 | $ 47,625 | 36,112 | 32,953 | $ 34,382 | $ 31,311 |
| Collectively evaluated for impairment | 4,813,181 | 3,852,027 | ||||
| Allowance - collectively evaluated for impairment | 57,285 | 32,953 | ||||
| Individually evaluated for impairment | 160 | 1,777 | ||||
| Allowance - individually evaluated for impairment | 0 | $ 0 | ||||
| C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 15,421,921 | |||||
| Collectively evaluated for impairment | 15,313,558 | |||||
| Individually evaluated for impairment | 82,438 | |||||
| Purchased credit-impaired loans | 25,925 | |||||
| Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 4,410,883 | |||||
| Collectively evaluated for impairment | 4,410,883 | |||||
| Individually evaluated for impairment | 0 | |||||
| Purchased credit-impaired loans | 0 | |||||
| TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 218,287 | |||||
| Allowance for loan losses | 18,400 | 19,100 | ||||
| Collectively evaluated for impairment | 218,287 | |||||
| Individually evaluated for impairment | 0 | |||||
| Purchased credit-impaired loans | 0 | |||||
| Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 4,248,237 | |||||
| Collectively evaluated for impairment | 4,768,563 | 4,242,519 | ||||
| Individually evaluated for impairment | 160 | 1,563 | ||||
| Purchased credit-impaired loans | 4,155 | |||||
| Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 88,780 | |||||
| Collectively evaluated for impairment | 44,618 | 87,960 | ||||
| Individually evaluated for impairment | $ 0 | 0 | ||||
| Purchased credit-impaired loans | 820 | |||||
| PD Grade 1 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 697,888 | |||||
| Loan balances percentage of total | 3.00% | |||||
| Allowance for loan losses | $ 69 | |||||
| PD Grade 1 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 696,040 | |||||
| PD Grade 1 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 1 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 1 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,848 | |||||
| PD Grade 1 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 2 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 815,992 | |||||
| Loan balances percentage of total | 4.00% | |||||
| Allowance for loan losses | $ 165 | |||||
| PD Grade 2 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 767,048 | |||||
| PD Grade 2 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 2 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 2 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 48,906 | |||||
| PD Grade 2 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 38 | |||||
| PD Grade 3 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 2,098,520 | |||||
| Loan balances percentage of total | 9.00% | |||||
| Allowance for loan losses | $ 274 | |||||
| PD Grade 3 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 743,123 | |||||
| PD Grade 3 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 877,210 | |||||
| PD Grade 3 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 3,314 | |||||
| PD Grade 3 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 474,067 | |||||
| PD Grade 3 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 806 | |||||
| PD Grade 4 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 2,657,818 | |||||
| Loan balances percentage of total | 11.00% | |||||
| Allowance for loan losses | $ 738 | |||||
| PD Grade 4 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,237,772 | |||||
| PD Grade 4 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 692,971 | |||||
| PD Grade 4 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 46,375 | |||||
| PD Grade 4 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 680,223 | |||||
| PD Grade 4 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 477 | |||||
| PD Grade 5 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 3,725,003 | |||||
| Loan balances percentage of total | 15.00% | |||||
| Allowance for loan losses | $ 8,265 | |||||
| PD Grade 5 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,986,761 | |||||
| PD Grade 5 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 670,402 | |||||
| PD Grade 5 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 72,512 | |||||
| PD Grade 5 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 993,628 | |||||
| PD Grade 5 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,700 | |||||
| PD Grade 6 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 4,683,029 | |||||
| Loan balances percentage of total | 19.00% | |||||
| Allowance for loan losses | $ 12,054 | |||||
| PD Grade 6 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 2,511,290 | |||||
| PD Grade 6 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,410,387 | |||||
| PD Grade 6 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 27,263 | |||||
| PD Grade 6 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 717,062 | |||||
| PD Grade 6 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 17,027 | |||||
| PD Grade 7 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 3,908,971 | |||||
| Loan balances percentage of total | 16.00% | |||||
| Allowance for loan losses | $ 20,409 | |||||
| PD Grade 7 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 2,708,707 | |||||
| PD Grade 7 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 509,616 | |||||
| PD Grade 7 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 18,378 | |||||
| PD Grade 7 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 641,345 | |||||
| PD Grade 7 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 30,925 | |||||
| PD Grade 8 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 2,166,241 | |||||
| Loan balances percentage of total | 9.00% | |||||
| Allowance for loan losses | $ 22,514 | |||||
| PD Grade 8 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,743,364 | |||||
| PD Grade 8 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 136,771 | |||||
| PD Grade 8 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 8 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 269,407 | |||||
| PD Grade 8 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 16,699 | |||||
| PD Grade 9 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 1,393,514 | |||||
| Loan balances percentage of total | 6.00% | |||||
| Allowance for loan losses | $ 17,484 | |||||
| PD Grade 9 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,101,873 | |||||
| PD Grade 9 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 77,139 | |||||
| PD Grade 9 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 31,909 | |||||
| PD Grade 9 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 169,586 | |||||
| PD Grade 9 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 13,007 | |||||
| PD Grade 10 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 665,145 | |||||
| Loan balances percentage of total | 3.00% | |||||
| Allowance for loan losses | $ 10,197 | |||||
| PD Grade 10 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 563,635 | |||||
| PD Grade 10 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 21,229 | |||||
| PD Grade 10 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 18,536 | |||||
| PD Grade 10 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 59,592 | |||||
| PD Grade 10 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 2,153 | |||||
| PD Grade 11 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 579,124 | |||||
| Loan balances percentage of total | 2.00% | |||||
| Allowance for loan losses | $ 13,454 | |||||
| PD Grade 11 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 495,140 | |||||
| PD Grade 11 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 11 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 11 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 81,682 | |||||
| PD Grade 11 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 2,302 | |||||
| PD Grade 12 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 307,945 | |||||
| Loan balances percentage of total | 1.00% | |||||
| Allowance for loan losses | $ 8,471 | |||||
| PD Grade 12 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 262,906 | |||||
| PD Grade 12 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 15,158 | |||||
| PD Grade 12 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 12 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 28,807 | |||||
| PD Grade 12 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,074 | |||||
| PD Grade 13 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 266,915 | |||||
| Loan balances percentage of total | 1.00% | |||||
| Allowance for loan losses | $ 8,142 | |||||
| PD Grade 13 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 232,823 | |||||
| PD Grade 13 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 13 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 13 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 32,966 | |||||
| PD Grade 13 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 1,126 | |||||
| PD Grade 14 15 16 | Commercial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 307,102 | |||||
| Loan balances percentage of total | 1.00% | |||||
| Allowance for loan losses | $ 29,318 | |||||
| PD Grade 14 15 16 | C&I | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 263,076 | |||||
| PD Grade 14 15 16 | Loans to Mortgage Companies | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 14 15 16 | TRUPS | Commercial | Commercial, financial, and industrial | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 0 | |||||
| PD Grade 14 15 16 | Income CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | 43,400 | |||||
| PD Grade 14 15 16 | Residential CRE | Commercial | Commercial real estate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Loan balance | $ 626 |
Loans - Loans by FICO Score, Consumer (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
||||
|---|---|---|---|---|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Total loans, net of unearned income | $ 32,708,937 | [1] | $ 31,061,111 | [1] | $ 29,712,810 | ||
| Consumer | Consumer real estate | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 525,422 | ||||||
| 2019 | 789,595 | ||||||
| 2018 | 514,908 | ||||||
| 2017 | 539,006 | ||||||
| 2016 | 684,993 | ||||||
| Prior to 2016 | 1,801,009 | ||||||
| Revolving loans | 884,134 | ||||||
| Revolving loans converted to term loans (c) | 313,326 | ||||||
| Total loans, net of unearned income | 6,052,393 | 6,177,139 | 6,303,134 | ||||
| Consumer | Consumer real estate | FICO score 740 or greater | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 394,137 | ||||||
| 2019 | 576,132 | ||||||
| 2018 | 410,188 | ||||||
| 2017 | 420,822 | ||||||
| 2016 | 527,019 | ||||||
| Prior to 2016 | 1,255,357 | ||||||
| Revolving loans | 626,844 | ||||||
| Revolving loans converted to term loans (c) | 135,436 | ||||||
| Total loans, net of unearned income | 4,345,935 | ||||||
| Consumer | Consumer real estate | FICO score 720-739 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 43,808 | ||||||
| 2019 | 67,904 | ||||||
| 2018 | 26,383 | ||||||
| 2017 | 37,259 | ||||||
| 2016 | 48,677 | ||||||
| Prior to 2016 | 132,407 | ||||||
| Revolving loans | 76,045 | ||||||
| Revolving loans converted to term loans (c) | 28,913 | ||||||
| Total loans, net of unearned income | 461,396 | ||||||
| Consumer | Consumer real estate | FICO score 700-719 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 31,459 | ||||||
| 2019 | 66,155 | ||||||
| 2018 | 28,201 | ||||||
| 2017 | 26,164 | ||||||
| 2016 | 45,038 | ||||||
| Prior to 2016 | 110,244 | ||||||
| Revolving loans | 54,941 | ||||||
| Revolving loans converted to term loans (c) | 29,613 | ||||||
| Total loans, net of unearned income | 391,815 | ||||||
| Consumer | Consumer real estate | FICO score 660-699 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 41,314 | ||||||
| 2019 | 51,096 | ||||||
| 2018 | 33,382 | ||||||
| 2017 | 32,745 | ||||||
| 2016 | 36,625 | ||||||
| Prior to 2016 | 153,335 | ||||||
| Revolving loans | 76,593 | ||||||
| Revolving loans converted to term loans (c) | 44,067 | ||||||
| Total loans, net of unearned income | 469,157 | ||||||
| Consumer | Consumer real estate | FICO score 620-659 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 12,524 | ||||||
| 2019 | 17,140 | ||||||
| 2018 | 10,922 | ||||||
| 2017 | 12,789 | ||||||
| 2016 | 13,178 | ||||||
| Prior to 2016 | 70,067 | ||||||
| Revolving loans | 24,185 | ||||||
| Revolving loans converted to term loans (c) | 29,940 | ||||||
| Total loans, net of unearned income | 190,745 | ||||||
| Consumer | Consumer real estate | FICO score less than 620 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 2,180 | ||||||
| 2019 | 11,168 | ||||||
| 2018 | 5,832 | ||||||
| 2017 | 9,227 | ||||||
| 2016 | 14,456 | ||||||
| Prior to 2016 | 79,599 | ||||||
| Revolving loans | 25,526 | ||||||
| Revolving loans converted to term loans (c) | 45,357 | ||||||
| Total loans, net of unearned income | 193,345 | ||||||
| Consumer | Other Consumer | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 26,822 | ||||||
| 2019 | 55,913 | ||||||
| 2018 | 32,571 | ||||||
| 2017 | 17,220 | ||||||
| 2016 | 10,011 | ||||||
| Prior to 2016 | 26,315 | ||||||
| Revolving loans | 269,748 | ||||||
| Revolving loans converted to term loans (c) | 10,710 | ||||||
| Total loans, net of unearned income | 449,310 | 495,864 | $ 494,376 | ||||
| Consumer | Other Consumer | FICO score 740 or greater | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 16,160 | ||||||
| 2019 | 36,450 | ||||||
| 2018 | 21,476 | ||||||
| 2017 | 10,499 | ||||||
| 2016 | 3,988 | ||||||
| Prior to 2016 | 14,774 | ||||||
| Revolving loans | 173,832 | ||||||
| Revolving loans converted to term loans (c) | 4,401 | ||||||
| Total loans, net of unearned income | 281,580 | ||||||
| Consumer | Other Consumer | FICO score 720-739 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 3,238 | ||||||
| 2019 | 5,226 | ||||||
| 2018 | 2,784 | ||||||
| 2017 | 1,615 | ||||||
| 2016 | 747 | ||||||
| Prior to 2016 | 1,844 | ||||||
| Revolving loans | 27,603 | ||||||
| Revolving loans converted to term loans (c) | 1,319 | ||||||
| Total loans, net of unearned income | 44,376 | ||||||
| Consumer | Other Consumer | FICO score 700-719 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 2,168 | ||||||
| 2019 | 4,246 | ||||||
| 2018 | 2,542 | ||||||
| 2017 | 1,521 | ||||||
| 2016 | 706 | ||||||
| Prior to 2016 | 1,980 | ||||||
| Revolving loans | 19,983 | ||||||
| Revolving loans converted to term loans (c) | 1,052 | ||||||
| Total loans, net of unearned income | 34,198 | ||||||
| Consumer | Other Consumer | FICO score 660-699 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 3,654 | ||||||
| 2019 | 6,546 | ||||||
| 2018 | 3,149 | ||||||
| 2017 | 2,172 | ||||||
| 2016 | 1,423 | ||||||
| Prior to 2016 | 2,737 | ||||||
| Revolving loans | 27,534 | ||||||
| Revolving loans converted to term loans (c) | 1,581 | ||||||
| Total loans, net of unearned income | 48,796 | ||||||
| Consumer | Other Consumer | FICO score 620-659 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 1,269 | ||||||
| 2019 | 2,386 | ||||||
| 2018 | 1,576 | ||||||
| 2017 | 891 | ||||||
| 2016 | 836 | ||||||
| Prior to 2016 | 1,813 | ||||||
| Revolving loans | 10,759 | ||||||
| Revolving loans converted to term loans (c) | 963 | ||||||
| Total loans, net of unearned income | 20,493 | ||||||
| Consumer | Other Consumer | FICO score less than 620 | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| 2020 | 333 | ||||||
| 2019 | 1,059 | ||||||
| 2018 | 1,044 | ||||||
| 2017 | 522 | ||||||
| 2016 | 2,311 | ||||||
| Prior to 2016 | 3,167 | ||||||
| Revolving loans | 10,037 | ||||||
| Revolving loans converted to term loans (c) | 1,394 | ||||||
| Total loans, net of unearned income | 19,867 | ||||||
| Unsecured Debt | Consumer | Other Consumer | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Revolving loans converted to term loans (c) | 3,900 | ||||||
| HELOC | Consumer | Consumer real estate | |||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
| Revolving loans converted to term loans (c) | 10,800 | ||||||
| Total loans, net of unearned income | $ 1,197,460 | $ 1,286,875 | |||||
| |||||||
Loans - Loans by FICO Score Percentage, Consumer (Details) - Accounts Receivable - Credit Concentration Risk |
12 Months Ended |
|---|---|
Dec. 31, 2019 | |
| HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 100.00% |
| R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 100.00% |
| FICO score 740 or greater | HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 62.00% |
| FICO score 740 or greater | R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 71.90% |
| FICO score 720-739 | HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 8.60% |
| FICO score 720-739 | R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 8.30% |
| FICO score 700-719 | HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 7.60% |
| FICO score 700-719 | R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 6.30% |
| FICO score 660-699 | HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 10.80% |
| FICO score 660-699 | R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 8.10% |
| FICO score 620-659 | HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 4.70% |
| FICO score 620-659 | R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 2.80% |
| FICO score less than 620 | HELOC | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 6.30% |
| FICO score less than 620 | R/E Installment Loans | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Concentration risk, percentage | 2.60% |
Loans - Accruing And Non-Accruing Loans By Class (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
||||
|---|---|---|---|---|---|---|---|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | $ 32,441,292 | $ 30,841,035 | ||||||||
| Total Accruing | 32,482,946 | 30,898,946 | ||||||||
| Current, Non-Accruing | 153,299 | 100,382 | ||||||||
| Total Non-Accruing | 225,991 | 162,165 | ||||||||
| Total loans, net of unearned income | 32,708,937 | [1] | 31,061,111 | [1] | $ 29,712,810 | |||||
| Allowance for loan losses | 537,881 | $ 444,490 | 200,307 | 192,749 | $ 184,911 | $ 180,424 | ||||
| 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 27,156 | 36,052 | ||||||||
| Past Due, Non-Accruing | 4,128 | 20,217 | ||||||||
| 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 14,498 | 21,859 | ||||||||
| Past Due, Non-Accruing | 68,564 | 41,566 | ||||||||
| Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Allowance for loan losses | 158,598 | |||||||||
| Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 21,260,765 | 19,967,302 | ||||||||
| Total Accruing | 21,266,548 | 19,976,779 | ||||||||
| Current, Non-Accruing | 79,022 | 36,564 | ||||||||
| Total Non-Accruing | 127,345 | 74,312 | ||||||||
| Total loans, net of unearned income | 21,393,893 | 20,051,091 | 19,054,269 | |||||||
| Allowance for loan losses | 318,722 | 254,516 | 122,486 | 116,096 | 103,713 | 98,947 | ||||
| Commercial | Commercial, financial, and industrial | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 5,496 | 7,442 | ||||||||
| Past Due, Non-Accruing | 254 | 14,385 | ||||||||
| Commercial | Commercial, financial, and industrial | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 287 | 2,035 | ||||||||
| Past Due, Non-Accruing | 48,069 | 23,363 | ||||||||
| Commercial | Commercial, financial, and industrial | C&I | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 17,031,822 | 15,314,292 | ||||||||
| Total Accruing | 17,036,780 | 15,321,684 | ||||||||
| Current, Non-Accruing | 79,022 | 36,564 | ||||||||
| Total Non-Accruing | 127,345 | 74,312 | ||||||||
| Total loans, net of unearned income | 17,164,125 | 15,395,996 | ||||||||
| Nonaccrual, no allowance | 65,300 | |||||||||
| Commercial | Commercial, financial, and industrial | C&I | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 4,671 | 7,155 | ||||||||
| Past Due, Non-Accruing | 254 | 14,385 | ||||||||
| Commercial | Commercial, financial, and industrial | C&I | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 287 | 237 | ||||||||
| Past Due, Non-Accruing | 48,069 | 23,363 | ||||||||
| Commercial | Commercial, financial, and industrial | Loans to Mortgage Companies | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 4,019,766 | 4,410,883 | ||||||||
| Total Accruing | 4,020,591 | 4,410,883 | ||||||||
| Current, Non-Accruing | 0 | 0 | ||||||||
| Total Non-Accruing | 0 | 0 | ||||||||
| Total loans, net of unearned income | 4,020,591 | 4,410,883 | ||||||||
| Commercial | Commercial, financial, and industrial | Loans to Mortgage Companies | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 825 | 0 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Commercial | Commercial, financial, and industrial | Loans to Mortgage Companies | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 0 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Commercial | Commercial, financial, and industrial | TRUPS | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 209,177 | 218,287 | ||||||||
| Total Accruing | 209,177 | 218,287 | ||||||||
| Current, Non-Accruing | 0 | 0 | ||||||||
| Total Non-Accruing | 0 | 0 | ||||||||
| Total loans, net of unearned income | 209,177 | 218,287 | ||||||||
| Allowance for loan losses | 18,400 | 19,100 | ||||||||
| Commercial | Commercial, financial, and industrial | TRUPS | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 0 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Commercial | Commercial, financial, and industrial | TRUPS | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 0 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Commercial | Commercial, financial, and industrial | C&I Purchase Credit Impaired Loans | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 23,840 | |||||||||
| Total Accruing | 25,925 | |||||||||
| Current, Non-Accruing | 0 | |||||||||
| Total Non-Accruing | 0 | |||||||||
| Total loans, net of unearned income | 25,925 | |||||||||
| Commercial | Commercial, financial, and industrial | C&I Purchase Credit Impaired Loans | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 287 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Commercial | Commercial, financial, and industrial | C&I Purchase Credit Impaired Loans | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 1,798 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Commercial | Commercial real estate | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 4,811,179 | 4,334,283 | ||||||||
| Total Accruing | 4,811,274 | 4,335,192 | ||||||||
| Current, Non-Accruing | 797 | 0 | ||||||||
| Total Non-Accruing | 2,067 | 1,825 | ||||||||
| Total loans, net of unearned income | 4,813,341 | 4,337,017 | 3,861,031 | |||||||
| Allowance for loan losses | 57,285 | 47,625 | 36,112 | 32,953 | 34,382 | 31,311 | ||||
| Commercial | Commercial real estate | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 95 | 814 | ||||||||
| Past Due, Non-Accruing | 0 | 485 | ||||||||
| Commercial | Commercial real estate | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 95 | ||||||||
| Past Due, Non-Accruing | 1,270 | 1,340 | ||||||||
| Commercial | Commercial real estate | Income CRE | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 4,766,561 | 4,242,044 | ||||||||
| Total Accruing | 4,766,656 | 4,242,723 | ||||||||
| Current, Non-Accruing | 797 | 0 | ||||||||
| Total Non-Accruing | 2,067 | 1,359 | ||||||||
| Total loans, net of unearned income | 4,768,723 | 4,244,082 | ||||||||
| Commercial | Commercial real estate | Income CRE | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 95 | 679 | ||||||||
| Past Due, Non-Accruing | 0 | 19 | ||||||||
| Commercial | Commercial real estate | Income CRE | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 0 | ||||||||
| Past Due, Non-Accruing | 1,270 | 1,340 | ||||||||
| Commercial | Commercial real estate | Residential CRE | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 44,618 | 87,487 | ||||||||
| Total Accruing | 44,618 | 87,494 | ||||||||
| Current, Non-Accruing | 0 | 0 | ||||||||
| Total Non-Accruing | 0 | 466 | ||||||||
| Total loans, net of unearned income | 44,618 | 87,960 | ||||||||
| Commercial | Commercial real estate | Residential CRE | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 7 | ||||||||
| Past Due, Non-Accruing | 0 | 466 | ||||||||
| Commercial | Commercial real estate | Residential CRE | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 0 | 0 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 4,752 | |||||||||
| Total Accruing | 4,975 | |||||||||
| Current, Non-Accruing | 0 | |||||||||
| Total Non-Accruing | 0 | |||||||||
| Total loans, net of unearned income | 4,975 | |||||||||
| Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 128 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 95 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 5,923,755 | 6,048,510 | ||||||||
| Total Accruing | 5,956,069 | 6,091,445 | ||||||||
| Current, Non-Accruing | 73,394 | 63,717 | ||||||||
| Total Non-Accruing | 96,324 | 85,694 | ||||||||
| Total loans, net of unearned income | 6,052,393 | 6,177,139 | 6,303,134 | |||||||
| Allowance for loan losses | 143,757 | 123,022 | 28,443 | 31,532 | 34,154 | 37,439 | ||||
| Consumer | Consumer Real Estate (a) | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 19,514 | 24,820 | ||||||||
| Past Due, Non-Accruing | 3,797 | 5,303 | ||||||||
| Consumer | Consumer Real Estate (a) | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 12,800 | 18,115 | ||||||||
| Past Due, Non-Accruing | 19,133 | 16,674 | ||||||||
| Consumer | Consumer Real Estate (a) | HELOC | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 1,136,288 | 1,217,344 | ||||||||
| Total Accruing | 1,148,824 | 1,232,169 | ||||||||
| Current, Non-Accruing | 41,608 | 43,007 | ||||||||
| Total Non-Accruing | 48,636 | 54,706 | ||||||||
| Total loans, net of unearned income | 1,197,460 | 1,286,875 | ||||||||
| Consumer | Consumer Real Estate (a) | HELOC | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 5,736 | 9,156 | ||||||||
| Past Due, Non-Accruing | 1,720 | 4,227 | ||||||||
| Consumer | Consumer Real Estate (a) | HELOC | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 6,800 | 5,669 | ||||||||
| Past Due, Non-Accruing | 5,308 | 7,472 | ||||||||
| Consumer | Consumer Real Estate (a) | R/E Installment Loans | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 4,787,467 | 4,812,446 | ||||||||
| Total Accruing | 4,807,245 | 4,834,510 | ||||||||
| Current, Non-Accruing | 31,786 | 20,710 | ||||||||
| Total Non-Accruing | 47,688 | 30,988 | ||||||||
| Total loans, net of unearned income | 4,854,933 | 4,865,498 | ||||||||
| Consumer | Consumer Real Estate (a) | R/E Installment Loans | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 13,778 | 12,894 | ||||||||
| Past Due, Non-Accruing | 2,077 | 1,076 | ||||||||
| Consumer | Consumer Real Estate (a) | R/E Installment Loans | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 6,000 | 9,170 | ||||||||
| Past Due, Non-Accruing | 13,825 | 9,202 | ||||||||
| Consumer | Consumer Real Estate (a) | RE Installment Purchase Credit Impaired Loans | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 18,720 | |||||||||
| Total Accruing | 24,766 | |||||||||
| Current, Non-Accruing | 0 | |||||||||
| Total Non-Accruing | 0 | |||||||||
| Total loans, net of unearned income | 24,766 | |||||||||
| Consumer | Consumer Real Estate (a) | RE Installment Purchase Credit Impaired Loans | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 2,770 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Consumer | Consumer Real Estate (a) | RE Installment Purchase Credit Impaired Loans | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 3,276 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 445,593 | 490,940 | ||||||||
| Total Accruing | 449,055 | 495,530 | ||||||||
| Current, Non-Accruing | 86 | 101 | ||||||||
| Total Non-Accruing | 255 | 334 | ||||||||
| Total loans, net of unearned income | 449,310 | 495,864 | 494,376 | |||||||
| Allowance for loan losses | 18,117 | $ 19,327 | 13,266 | $ 12,168 | $ 12,662 | $ 12,727 | ||||
| Consumer | Credit Card and Other | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 2,051 | 2,976 | ||||||||
| Past Due, Non-Accruing | 77 | 44 | ||||||||
| Consumer | Credit Card and Other | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 1,411 | 1,614 | ||||||||
| Past Due, Non-Accruing | 92 | 189 | ||||||||
| Consumer | Credit Card and Other | Credit Card | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 164,527 | 198,917 | ||||||||
| Total Accruing | 167,344 | 201,171 | ||||||||
| Current, Non-Accruing | 0 | 0 | ||||||||
| Total Non-Accruing | 0 | 0 | ||||||||
| Total loans, net of unearned income | 167,344 | 201,171 | ||||||||
| Consumer | Credit Card and Other | Credit Card | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 1,520 | 1,076 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Consumer | Credit Card and Other | Credit Card | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 1,297 | 1,178 | ||||||||
| Past Due, Non-Accruing | 0 | 0 | ||||||||
| Consumer | Credit Card and Other | Other Consumer Loans Class | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 281,066 | 291,700 | ||||||||
| Total Accruing | 281,711 | 293,839 | ||||||||
| Current, Non-Accruing | 86 | 101 | ||||||||
| Total Non-Accruing | 255 | 334 | ||||||||
| Total loans, net of unearned income | 281,966 | 294,173 | ||||||||
| Consumer | Credit Card and Other | Other Consumer Loans Class | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 531 | 1,802 | ||||||||
| Past Due, Non-Accruing | 77 | 44 | ||||||||
| Consumer | Credit Card and Other | Other Consumer Loans Class | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 114 | 337 | ||||||||
| Past Due, Non-Accruing | $ 92 | 189 | ||||||||
| Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Current, Accruing | 323 | |||||||||
| Total Accruing | 520 | |||||||||
| Current, Non-Accruing | 0 | |||||||||
| Total Non-Accruing | 0 | |||||||||
| Total loans, net of unearned income | 520 | |||||||||
| Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | 30-89 Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 98 | |||||||||
| Past Due, Non-Accruing | 0 | |||||||||
| Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | 90+ Days Past Due | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Past Due, Accruing | 99 | |||||||||
| Past Due, Non-Accruing | $ 0 | |||||||||
| ||||||||||
Loans - Narrative (Details) - USD ($) |
6 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Dec. 31, 2019 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
|||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 32,708,937,000 | [1] | $ 31,061,111,000 | [1] | $ 29,712,810,000 | |||||
| Troubled debt restructurings loans | 192,600,000 | 206,300,000 | ||||||||
| Allowance for loan losses | $ 537,881,000 | 200,307,000 | $ 444,490,000 | 192,749,000 | $ 184,911,000 | $ 180,424,000 | ||||
| Loans to Mortgage Companies | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Percentage of loans collateralized with government guaranteed loans | 95.00% | |||||||||
| Allowance For TDRs To Recorded Investment Of TDRs | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Allowance for loan losses | $ 13,600,000 | $ 19,700,000 | ||||||||
| Ratio of the allowance for loan losses to loans | 7.00% | 10.00% | ||||||||
| Loans Held For Sale, Residential Real Estate | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Troubled debt restructurings loans | $ 45,100,000 | $ 51,100,000 | ||||||||
| Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Allowance for loan losses | 158,598,000 | |||||||||
| Allowance - purchased credit-impaired loans | 848,000 | |||||||||
| Commercial | Loans to Mortgage Companies | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Financing receivable, before allowance for credit loss | $ 4,000,000,000.0 | |||||||||
| Percentage of commercial & industrial loan portfolio | 19.00% | |||||||||
| Percentage contributed in total loan | 12.00% | |||||||||
| Commercial | Finance Insurance And Loans To Mortgage Companies | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Percentage of commercial & industrial loan portfolio | 31.00% | |||||||||
| Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 21,393,893,000 | 20,051,091,000 | 19,054,269,000 | |||||||
| Allowance for loan losses | 318,722,000 | 122,486,000 | 254,516,000 | 116,096,000 | 103,713,000 | 98,947,000 | ||||
| Commercial | Finance And Insurance Companies | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Financing receivable, before allowance for credit loss | $ 2,500,000,000 | |||||||||
| Percentage of commercial & industrial loan portfolio | 12.00% | |||||||||
| Percentage contributed in total loan | 8.00% | |||||||||
| Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 6,052,393,000 | 6,177,139,000 | 6,303,134,000 | |||||||
| Modified interest rate increase | 1.00% | |||||||||
| TDRS Maturities | 40 years | |||||||||
| Allowance for loan losses | $ 143,757,000 | 28,443,000 | 123,022,000 | 31,532,000 | 34,154,000 | 37,439,000 | ||||
| Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 449,310,000 | 495,864,000 | 494,376,000 | |||||||
| Allowance for loan losses | $ 18,117,000 | 13,266,000 | $ 19,327,000 | 12,168,000 | $ 12,662,000 | $ 12,727,000 | ||||
| Consumer | Permanent Mortgage | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| TDR, reduction of interest rate by increment, basis points | 0.25% | |||||||||
| Consumer | Residential Real Estate | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Concentration risk, percentage | 19.00% | |||||||||
| Minimum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Forbearance agreements time period | 6 months | |||||||||
| Minimum | Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Modified interest rate | 2.00% | |||||||||
| Modified interest rate time period | 5 years | |||||||||
| Maximum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Forbearance agreements time period | 12 months | |||||||||
| Maximum | Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Modified interest rate time period | 5 years | |||||||||
| TRUPS | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Small bank and business loan, total asset maximum cap | $ 15,000,000,000 | |||||||||
| TRUPS | Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 209,177,000 | 218,287,000 | ||||||||
| Allowance for loan losses | $ 18,400,000 | 19,100,000 | ||||||||
| Heloc And Real Estate Installment Classes | Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Modified interest rate increase | 2.00% | |||||||||
| TDR, reduction of interest rate by increment, basis points | 0.25% | |||||||||
| Heloc And Real Estate Installment Classes | Minimum | Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Modified interest rate | 1.00% | |||||||||
| Modified interest rate time period | 5 years | |||||||||
| Heloc And Real Estate Installment Classes | Maximum | Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Modified interest rate time period | 5 years | |||||||||
| Credit Card | Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 167,344,000 | 201,171,000 | ||||||||
| Credit card workout program, granted rate reduction | 0.00% | |||||||||
| Credit Card | Minimum | Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Payment reductions, time period | 6 months | |||||||||
| Credit Card | Maximum | Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Payment reductions, time period | 1 year | |||||||||
| Credit card workout program, term extension | 5 years | |||||||||
| Purchased credit-impaired loans | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 68,799,000 | |||||||||
| Allowance for loan losses | 1,989,000 | |||||||||
| Allowance - purchased credit-impaired loans | 2,000,000.0 | |||||||||
| Allowance for loan and lease losses write-offs, net | 5,800,000 | |||||||||
| Provision for loan, lease, and other losses | 1,300,000 | |||||||||
| Purchased credit-impaired loans | Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 33,840,000 | |||||||||
| Allowance for loan losses | 854,000 | |||||||||
| Purchased credit-impaired loans | Consumer | Consumer Real Estate (a) | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 26,829,000 | |||||||||
| Allowance for loan losses | 1,078,000 | |||||||||
| Purchased credit-impaired loans | Consumer | Credit Card and Other | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 903,000 | |||||||||
| Allowance for loan losses | $ 57,000 | |||||||||
| PD Grade 1 | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Lowest expected default probability | 1 | |||||||||
| Allowance for loan losses | 69,000 | |||||||||
| PD Grade 1 | Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 2,674,017,000 | |||||||||
| Loss | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 16 | |||||||||
| Loss | Maximum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 16 | |||||||||
| Pass | Minimum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 1 | |||||||||
| Pass | Maximum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 12 | |||||||||
| Special Mention | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 13 | |||||||||
| Special Mention | Minimum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 13 | |||||||||
| Substandard | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 14 | |||||||||
| Doubtful | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 15 | |||||||||
| Loan Reassessed | Minimum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 1,000,000 | |||||||||
| PD Grade 13 | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Allowance for loan losses | $ 8,142,000 | |||||||||
| PD Grade 13 | Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | 336,048,000 | |||||||||
| PD Grade 13 | Minimum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 500,000 | |||||||||
| LGD Grade 1 | Minimum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 1 | |||||||||
| LGD Grade 12 | Maximum | Commercial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Commercial loan grades | 12 | |||||||||
| Paycheck Protection Plan | Commercial | Commercial, financial, and industrial | ||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
| Loans, net of unearned income | $ 2,100,000,000 | |||||||||
| ||||||||||
Loans - Schedule Of Troubled Debt Restructurings Occurring During The Year (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2020
USD ($)
loan
|
Jun. 30, 2019
USD ($)
loan
|
Jun. 30, 2020
USD ($)
loan
|
Jun. 30, 2019
USD ($)
loan
|
|
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 61 | 63 | 106 | 146 |
| Pre-Modification Outstanding Recorded Investment | $ 12,690 | $ 5,136 | $ 21,198 | $ 28,634 |
| Post-Modification Outstanding Recorded Investment | $ 12,682 | $ 5,083 | $ 19,649 | $ 28,471 |
| Commercial | C&I | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 1 | 1 | 4 | 3 |
| Pre-Modification Outstanding Recorded Investment | $ 4,649 | $ 222 | $ 10,576 | $ 14,117 |
| Post-Modification Outstanding Recorded Investment | $ 4,699 | $ 222 | $ 9,132 | $ 14,042 |
| Consumer | Consumer Real Estate (a) | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 44 | 44 | 62 | 110 |
| Pre-Modification Outstanding Recorded Investment | $ 7,945 | $ 4,805 | $ 10,368 | $ 14,334 |
| Post-Modification Outstanding Recorded Investment | $ 7,892 | $ 4,758 | $ 10,280 | $ 14,255 |
| Consumer | Credit Card and Other | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 16 | 18 | 40 | 33 |
| Pre-Modification Outstanding Recorded Investment | $ 96 | $ 109 | $ 254 | $ 183 |
| Post-Modification Outstanding Recorded Investment | $ 91 | $ 103 | $ 237 | $ 174 |
| C&I | Commercial | C&I | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 1 | 1 | 4 | 3 |
| Pre-Modification Outstanding Recorded Investment | $ 4,649 | $ 222 | $ 10,576 | $ 14,117 |
| Post-Modification Outstanding Recorded Investment | $ 4,699 | $ 222 | $ 9,132 | $ 14,042 |
| HELOC | Consumer | Consumer Real Estate (a) | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 4 | 25 | 12 | 44 |
| Pre-Modification Outstanding Recorded Investment | $ 152 | $ 3,271 | $ 1,064 | $ 5,375 |
| Post-Modification Outstanding Recorded Investment | $ 151 | $ 3,235 | $ 1,042 | $ 5,319 |
| R/E Installment Loans | Consumer | Consumer Real Estate (a) | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 40 | 19 | 50 | 66 |
| Pre-Modification Outstanding Recorded Investment | $ 7,793 | $ 1,534 | $ 9,304 | $ 8,959 |
| Post-Modification Outstanding Recorded Investment | $ 7,741 | $ 1,523 | $ 9,238 | $ 8,936 |
Loans - Schedule Of Troubled Debt Restructurings Within The Previous 12 Months (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2020
USD ($)
loan
|
Jun. 30, 2019
USD ($)
loan
|
Jun. 30, 2020
USD ($)
loan
|
Jun. 30, 2019
USD ($)
loan
|
|
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 15 | 9 | 31 | 18 |
| Recorded Investment | $ | $ 2,262 | $ 118 | $ 3,597 | $ 169 |
| Commercial | C&I | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 0 | 0 | 0 | 0 |
| Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
| Consumer | Consumer Real Estate (a) | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 8 | 2 | 17 | 3 |
| Recorded Investment | $ | $ 2,233 | $ 104 | $ 3,537 | $ 137 |
| Consumer | Credit Card and Other | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 7 | 7 | 14 | 15 |
| Recorded Investment | $ | $ 29 | $ 14 | $ 60 | $ 32 |
| C&I | Commercial | C&I | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 0 | 0 | 0 | 0 |
| Recorded Investment | $ | $ 0 | $ 0 | $ 0 | $ 0 |
| HELOC | Consumer | Consumer Real Estate (a) | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 3 | 1 | 7 | 2 |
| Recorded Investment | $ | $ 882 | $ 66 | $ 1,842 | $ 99 |
| R/E Installment Loans | Consumer | Consumer Real Estate (a) | ||||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
| Number | loan | 5 | 1 | 10 | 1 |
| Recorded Investment | $ | $ 1,351 | $ 38 | $ 1,695 | $ 38 |
Loans - Accrued Interest (Details) $ in Thousands |
Jun. 30, 2020
USD ($)
|
|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Accrued interest | $ 92,062 |
| Allowance for Credit Losses on COVID-19 Deferrals | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Accrued interest | (860) |
| Commercial | Commercial, financial, and industrial | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Accrued interest | 56,828 |
| Commercial | Commercial real estate | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Accrued interest | 16,528 |
| Consumer | Consumer Real Estate (a) | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Accrued interest | 18,020 |
| Consumer | Credit Card and Other | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Accrued interest | $ 1,546 |
Loans - Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Rollforward (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
USD ($)
| |
| Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |
| Balance, beginning of period | $ 13,375 |
| Accretion | (5,792) |
| Adjustment for payoffs | (2,438) |
| Adjustment for charge-offs | (479) |
| Adjustment for pool excess recovery | 0 |
| Increase/(decrease) in accretable yield | 5,513 |
| Disposal | (4) |
| Other | (367) |
| Balance, end of period | $ 9,808 |
Loans - Schedule Of Acquired Purchase Credit Impaired Loans By Portfolio Segment (Details) $ in Thousands |
Dec. 31, 2019
USD ($)
|
|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Carrying value | $ 54,221 |
| Unpaid balance | 58,216 |
| Commercial, financial, and industrial | Commercial | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Carrying value | 24,973 |
| Unpaid balance | 25,938 |
| Commercial Real Estate | Commercial | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Carrying value | 5,078 |
| Unpaid balance | 5,466 |
| Consumer Real Estate (a) | Consumer | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Carrying value | 23,681 |
| Unpaid balance | 26,245 |
| Credit Card and Other | Consumer | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Carrying value | 489 |
| Unpaid balance | $ 567 |
Loans - Information By Class Related To Individually Impaired Loans (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |
|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2019 |
Dec. 31, 2019 |
|
| Recorded Investment | |||
| Recorded Investment | $ 246,900 | ||
| Unpaid Principal Balance | |||
| Unpaid Principal Balance | 281,089 | ||
| Related Allowance | 25,916 | ||
| Average Recorded Investment | |||
| Average Recorded Investment | $ 287,938 | $ 272,890 | |
| Interest Income Recognized | |||
| Interest Income Recognized | 1,514 | 3,065 | |
| Commercial | |||
| Recorded Investment | |||
| Impaired loans with no related allowance recorded, Recorded investment | 54,235 | ||
| Impaired loans with related allowance recorded, Recorded investment | 29,766 | ||
| Recorded Investment | 84,001 | ||
| Unpaid Principal Balance | |||
| Impaired loans with no related allowance recorded, Unpaid principal balance | 65,165 | ||
| Impaired loans with related allowance recorded, Unpaid principal balance | 31,536 | ||
| Unpaid Principal Balance | 96,701 | ||
| Related Allowance | 6,196 | ||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 87,446 | 72,384 | |
| Impaired loans with related allowance recorded, Average recorded investment | 13,913 | 12,218 | |
| Average Recorded Investment | 101,359 | 84,602 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 191 | 384 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 0 | 9 | |
| Interest Income Recognized | 191 | 393 | |
| Consumer | |||
| Recorded Investment | |||
| Impaired loans with no related allowance recorded, Recorded investment | 12,533 | ||
| Impaired loans with related allowance recorded, Recorded investment | 150,366 | ||
| Recorded Investment | 162,899 | ||
| Unpaid Principal Balance | |||
| Impaired loans with no related allowance recorded, Unpaid principal balance | 20,492 | ||
| Impaired loans with related allowance recorded, Unpaid principal balance | 163,896 | ||
| Unpaid Principal Balance | 184,388 | ||
| Related Allowance | 19,720 | ||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 15,372 | 15,803 | |
| Impaired loans with related allowance recorded, Average recorded investment | 171,207 | 172,485 | |
| Average Recorded Investment | 186,579 | 188,288 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 0 | 0 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 1,323 | 2,672 | |
| Interest Income Recognized | 1,323 | 2,672 | |
| Commercial, financial, and industrial | Commercial | C&I | |||
| Recorded Investment | |||
| Impaired loans with no related allowance recorded, Recorded investment | 52,672 | ||
| Impaired loans with related allowance recorded, Recorded investment | 29,766 | ||
| Unpaid Principal Balance | |||
| Impaired loans with no related allowance recorded, Unpaid principal balance | 63,602 | ||
| Impaired loans with related allowance recorded, Unpaid principal balance | 31,536 | ||
| Related Allowance | 6,196 | ||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 67,337 | 61,552 | |
| Impaired loans with related allowance recorded, Average recorded investment | 10,760 | 9,026 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 178 | 357 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 0 | 0 | |
| Commercial, financial, and industrial | Commercial | Loans to Mortgage Companies | |||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 18,628 | 9,314 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 0 | 0 | |
| Commercial, financial, and industrial | Commercial | TRUPS | |||
| Recorded Investment | |||
| Impaired loans with related allowance recorded, Recorded investment | 0 | ||
| Unpaid Principal Balance | |||
| Impaired loans with related allowance recorded, Unpaid principal balance | 0 | ||
| Related Allowance | 0 | ||
| Average Recorded Investment | |||
| Impaired loans with related allowance recorded, Average recorded investment | 2,806 | 2,835 | |
| Interest Income Recognized | |||
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 0 | 0 | |
| Commercial real estate | Commercial | Income CRE | |||
| Recorded Investment | |||
| Impaired loans with no related allowance recorded, Recorded investment | 1,563 | ||
| Impaired loans with related allowance recorded, Recorded investment | 0 | ||
| Unpaid Principal Balance | |||
| Impaired loans with no related allowance recorded, Unpaid principal balance | 1,563 | ||
| Impaired loans with related allowance recorded, Unpaid principal balance | 0 | ||
| Related Allowance | 0 | ||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 1,481 | 1,518 | |
| Impaired loans with related allowance recorded, Average recorded investment | 347 | 357 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 13 | 27 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 0 | 9 | |
| Commercial real estate | Commercial | Residential CRE | |||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 0 | 0 | |
| Impaired loans with related allowance recorded, Average recorded investment | 0 | 0 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 0 | 0 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 0 | 0 | |
| Consumer real estate | Consumer | HELOC | |||
| Recorded Investment | |||
| Impaired loans with no related allowance recorded, Recorded investment | 4,940 | ||
| Impaired loans with related allowance recorded, Recorded investment | 55,522 | ||
| Unpaid Principal Balance | |||
| Impaired loans with no related allowance recorded, Unpaid principal balance | 10,438 | ||
| Impaired loans with related allowance recorded, Unpaid principal balance | 59,122 | ||
| Related Allowance | 7,016 | ||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 6,462 | 7,030 | |
| Impaired loans with related allowance recorded, Average recorded investment | 62,623 | 63,819 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 0 | 0 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 504 | 1,026 | |
| Consumer real estate | Consumer | R/E Installment Loans | |||
| Recorded Investment | |||
| Impaired loans with no related allowance recorded, Recorded investment | 7,593 | ||
| Impaired loans with related allowance recorded, Recorded investment | 94,191 | ||
| Unpaid Principal Balance | |||
| Impaired loans with no related allowance recorded, Unpaid principal balance | 10,054 | ||
| Impaired loans with related allowance recorded, Unpaid principal balance | 104,121 | ||
| Related Allowance | 12,282 | ||
| Average Recorded Investment | |||
| Impaired loans with no related allowance recorded, Average recorded investment | 8,910 | 8,773 | |
| Impaired loans with related allowance recorded, Average recorded investment | 107,892 | 107,975 | |
| Interest Income Recognized | |||
| Impaired loans with no related allowance recorded, Interest income recognized | 0 | 0 | |
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | 815 | 1,637 | |
| Credit Card and Other | Consumer | |||
| Recorded Investment | |||
| Impaired loans with related allowance recorded, Recorded investment | 653 | ||
| Unpaid Principal Balance | |||
| Impaired loans with related allowance recorded, Unpaid principal balance | 653 | ||
| Related Allowance | $ 422 | ||
| Average Recorded Investment | |||
| Impaired loans with related allowance recorded, Average recorded investment | 692 | 691 | |
| Interest Income Recognized | |||
| Impaired Financing Impaired loans with related allowance recorded, Interest income recognized | $ 4 | $ 9 |
Allowance for Loan Losses - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Loans, net of unearned income | $ 32,708,937 | [1] | $ 29,712,810 | $ 32,708,937 | [1] | $ 29,712,810 | $ 31,061,111 | [1] | |||||
| Allowance for loan losses | 537,881 | 192,749 | $ 537,881 | 192,749 | $ 444,490 | 200,307 | $ 184,911 | $ 180,424 | |||||
| Forecast period to estimate expected credit losses | 4 years | ||||||||||||
| Term to estimate expected credit losses determined by macroeconomics variable | 3 years | ||||||||||||
| Additional term to estimated expected credit losses determined by microeconomics variable diminishing | 1 year | ||||||||||||
| Measurement period of historical losses, pro rata period | 1 year | ||||||||||||
| Expense/(Credit) on unfunded commitments | 11,158 | (489) | $ 20,388 | (93) | |||||||||
| Consumer real estate | C&I | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Weighted average life | 3 years | ||||||||||||
| Commercial | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Allowance for loan losses | 158,598 | ||||||||||||
| Commercial | C&I | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Loans, net of unearned income | 21,393,893 | 19,054,269 | $ 21,393,893 | 19,054,269 | 20,051,091 | ||||||||
| Allowance for loan losses | 318,722 | $ 116,096 | $ 318,722 | $ 116,096 | $ 254,516 | 122,486 | $ 103,713 | $ 98,947 | |||||
| HELOC and R/E Installment Loans | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Weighted average life | 5 years | ||||||||||||
| General C&I | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Collateral for secured borrowings | 65,000 | $ 65,000 | |||||||||||
| Collateral, charge off | 1,500 | 13,000 | |||||||||||
| General C&I | Commercial | C&I | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Loans, net of unearned income | 17,164,125 | 17,164,125 | $ 15,395,996 | ||||||||||
| HELOC | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Collateral for secured borrowings | 10,000 | 10,000 | |||||||||||
| R/E Installment Loans | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Collateral for secured borrowings | 26,000 | 26,000 | |||||||||||
| COVID-19 Deferrals | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Allowance for loan losses | 860 | 860 | |||||||||||
| Paycheck Protection Plan | Commercial | C&I | |||||||||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||||
| Loans, net of unearned income | $ 2,100,000 | $ 2,100,000 | |||||||||||
| |||||||||||||
Allowance for Loan Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2019 |
||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | $ 444,490 | $ 184,911 | $ 200,307 | $ 180,424 | ||||||
| Charge-offs | (22,907) | (12,223) | (36,360) | (22,750) | ||||||
| Recoveries | 6,298 | 7,061 | 12,540 | 13,075 | ||||||
| Provision/(provision credit) for loan losses | 110,000 | 13,000 | 255,000 | 22,000 | ||||||
| Ending Balance | 537,881 | 192,749 | 537,881 | 192,749 | ||||||
| Allowance - individually evaluated for impairment | 30,204 | 31,181 | 30,204 | 31,181 | ||||||
| Allowance - collectively evaluated for impairment | 507,677 | 159,579 | 507,677 | 159,579 | ||||||
| Individually evaluated for impairment | 289,917 | 300,726 | 289,917 | 300,726 | ||||||
| Collectively evaluated for impairment | 32,419,020 | 29,343,285 | 32,419,020 | 29,343,285 | ||||||
| Loans, net of unearned income | 32,708,937 | [1] | 29,712,810 | 32,708,937 | [1] | 29,712,810 | $ 31,061,111 | [1] | ||
| Commercial | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 158,598 | |||||||||
| Allowance - individually evaluated for impairment | 6,196 | |||||||||
| Allowance - collectively evaluated for impairment | 151,554 | |||||||||
| Individually evaluated for impairment | 84,001 | |||||||||
| Collectively evaluated for impairment | 24,273,207 | |||||||||
| Commercial | C&I | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 254,516 | 103,713 | 122,486 | 98,947 | ||||||
| Charge-offs | (18,201) | (6,590) | (24,952) | (9,691) | ||||||
| Recoveries | 1,073 | 519 | 2,008 | 1,348 | ||||||
| Provision/(provision credit) for loan losses | 81,334 | 18,454 | 200,398 | 25,492 | ||||||
| Ending Balance | 318,722 | 116,096 | 318,722 | 116,096 | ||||||
| Allowance - individually evaluated for impairment | 16,577 | 8,484 | 16,577 | 8,484 | ||||||
| Allowance - collectively evaluated for impairment | 302,145 | 106,758 | 302,145 | 106,758 | ||||||
| Individually evaluated for impairment | 140,526 | 115,808 | 140,526 | 115,808 | ||||||
| Collectively evaluated for impairment | 21,253,367 | 18,904,621 | 21,253,367 | 18,904,621 | ||||||
| Loans, net of unearned income | 21,393,893 | 19,054,269 | 21,393,893 | 19,054,269 | 20,051,091 | |||||
| Commercial | Commercial Real Estate | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 47,625 | 34,382 | 36,112 | 31,311 | ||||||
| Charge-offs | (61) | (121) | (642) | (555) | ||||||
| Recoveries | 156 | (88) | 729 | (31) | ||||||
| Provision/(provision credit) for loan losses | 9,565 | (1,220) | 28,434 | 2,228 | ||||||
| Ending Balance | 57,285 | 32,953 | 57,285 | 32,953 | ||||||
| Allowance - individually evaluated for impairment | 0 | 0 | 0 | 0 | ||||||
| Allowance - collectively evaluated for impairment | 57,285 | 32,953 | 57,285 | 32,953 | ||||||
| Individually evaluated for impairment | 160 | 1,777 | 160 | 1,777 | ||||||
| Collectively evaluated for impairment | 4,813,181 | 3,852,027 | 4,813,181 | 3,852,027 | ||||||
| Loans, net of unearned income | 4,813,341 | 3,861,031 | 4,813,341 | 3,861,031 | 4,337,017 | |||||
| Consumer | Consumer Real Estate (a) | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 123,022 | 34,154 | 28,443 | 37,439 | ||||||
| Charge-offs | (1,968) | (1,714) | (4,278) | (4,518) | ||||||
| Recoveries | 3,987 | 5,525 | 7,542 | 9,566 | ||||||
| Provision/(provision credit) for loan losses | 18,716 | (6,433) | 19,058 | (10,955) | ||||||
| Ending Balance | 143,757 | 31,532 | 143,757 | 31,532 | ||||||
| Allowance - individually evaluated for impairment | 13,275 | 22,255 | 13,275 | 22,255 | ||||||
| Allowance - collectively evaluated for impairment | 130,482 | 8,199 | 130,482 | 8,199 | ||||||
| Individually evaluated for impairment | 148,543 | 182,442 | 148,543 | 182,442 | ||||||
| Collectively evaluated for impairment | 5,903,850 | 6,093,863 | 5,903,850 | 6,093,863 | ||||||
| Loans, net of unearned income | 6,052,393 | 6,303,134 | 6,052,393 | 6,303,134 | 6,177,139 | |||||
| Consumer | Credit Card and Other | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 19,327 | 12,662 | 13,266 | 12,727 | ||||||
| Charge-offs | (2,677) | (3,798) | (6,488) | (7,986) | ||||||
| Recoveries | 1,082 | 1,105 | 2,261 | 2,192 | ||||||
| Provision/(provision credit) for loan losses | 385 | 2,199 | 7,110 | 5,235 | ||||||
| Ending Balance | 18,117 | 12,168 | 18,117 | 12,168 | ||||||
| Allowance - individually evaluated for impairment | 352 | 442 | 352 | 442 | ||||||
| Allowance - collectively evaluated for impairment | 17,765 | 11,669 | 17,765 | 11,669 | ||||||
| Individually evaluated for impairment | 688 | 699 | 688 | 699 | ||||||
| Collectively evaluated for impairment | 448,622 | 492,774 | 448,622 | 492,774 | ||||||
| Loans, net of unearned income | $ 449,310 | 494,376 | 449,310 | 494,376 | $ 495,864 | |||||
| Cumulative Effect, Period Of Adoption, Adjustment | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 106,394 | |||||||||
| Cumulative Effect, Period Of Adoption, Adjustment | Commercial | C&I | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 18,782 | |||||||||
| Cumulative Effect, Period Of Adoption, Adjustment | Commercial | Commercial Real Estate | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | (7,348) | |||||||||
| Cumulative Effect, Period Of Adoption, Adjustment | Consumer | Consumer Real Estate (a) | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | 92,992 | |||||||||
| Cumulative Effect, Period Of Adoption, Adjustment | Consumer | Credit Card and Other | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Beginning Balance | $ 1,968 | |||||||||
| Purchased credit-impaired loans | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Ending Balance | 1,989 | 1,989 | ||||||||
| Loans, net of unearned income | 68,799 | 68,799 | ||||||||
| Purchased credit-impaired loans | Commercial | C&I | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Ending Balance | 854 | 854 | ||||||||
| Loans, net of unearned income | 33,840 | 33,840 | ||||||||
| Purchased credit-impaired loans | Commercial | Commercial Real Estate | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Ending Balance | 0 | 0 | ||||||||
| Loans, net of unearned income | 7,227 | 7,227 | ||||||||
| Purchased credit-impaired loans | Consumer | Consumer Real Estate (a) | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Ending Balance | 1,078 | 1,078 | ||||||||
| Loans, net of unearned income | 26,829 | 26,829 | ||||||||
| Purchased credit-impaired loans | Consumer | Credit Card and Other | ||||||||||
| Allowance for Loan and Lease Losses [Roll Forward] | ||||||||||
| Ending Balance | 57 | 57 | ||||||||
| Loans, net of unearned income | $ 903 | $ 903 | ||||||||
| ||||||||||
Intangible Assets - Summary Of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Intangible Assets [Line Items] | ||
| Gross Carrying Amount | $ 185,772 | $ 240,637 |
| Accumulated Amortization | (66,164) | (110,437) |
| Net Carrying Value | 119,608 | 130,200 |
| Core deposit intangibles | ||
| Intangible Assets [Line Items] | ||
| Gross Carrying Amount | 157,150 | 157,150 |
| Accumulated Amortization | (56,561) | (47,372) |
| Net Carrying Value | 100,589 | 109,778 |
| Customer relationships (a) | ||
| Intangible Assets [Line Items] | ||
| Gross Carrying Amount | 23,000 | 77,865 |
| Accumulated Amortization | (6,158) | (60,150) |
| Net Carrying Value | 16,842 | 17,715 |
| Finite-lived intangible assets, fully amortized | 54,900 | |
| Other | ||
| Intangible Assets [Line Items] | ||
| Gross Carrying Amount | 5,622 | 5,622 |
| Accumulated Amortization | (3,445) | (2,915) |
| Net Carrying Value | 2,177 | 2,707 |
| State banking licenses | ||
| Intangible Assets [Line Items] | ||
| Indefinite-lived intangible assets, excluding goodwill | $ 300 | $ 300 |
Intangible Assets - Narrative (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
| Amortization expense | $ 5,300,000 | $ 6,200,000 | $ 10,600,000 | $ 12,400,000 | ||
| Goodwill [Line Items] | ||||||
| Goodwill | 1,432,787,000 | $ 1,432,787,000 | 1,432,787,000 | $ 1,432,787,000 | $ 1,432,787,000 | $ 1,432,787,000 |
| Non-Strategic | ||||||
| Goodwill [Line Items] | ||||||
| Gross goodwill | 200,000,000.0 | 200,000,000.0 | 200,000,000 | |||
| Accumulated impairments | 114,100,000 | 114,100,000 | 114,100,000 | |||
| Accumulated divestiture related write-offs | 85,900,000 | 85,900,000 | 85,900,000 | |||
| Goodwill | $ 0 | $ 0 | $ 0 | |||
Intangible Assets - Schedule Of Estimated Aggregate Amortization Expense for Intangible Assets (Details) $ in Thousands |
Jun. 30, 2020
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Remainder of 2020 | $ 10,568 |
| 2021 | 19,547 |
| 2022 | 17,412 |
| 2023 | 16,117 |
| 2024 | 14,679 |
| 2025 | $ 12,580 |
Intangible Assets - Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments (Details) - USD ($) $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Goodwill [Roll Forward] | ||
| Goodwill, Beginning balance | $ 1,432,787 | $ 1,432,787 |
| Additions | 0 | 0 |
| Goodwill, Ending balance | 1,432,787 | 1,432,787 |
| Regional Banking | ||
| Goodwill [Roll Forward] | ||
| Goodwill, Beginning balance | 1,289,819 | 1,289,819 |
| Additions | 0 | 0 |
| Goodwill, Ending balance | 1,289,819 | 1,289,819 |
| Fixed Income | ||
| Goodwill [Roll Forward] | ||
| Goodwill, Beginning balance | 142,968 | 142,968 |
| Additions | 0 | 0 |
| Goodwill, Ending balance | $ 142,968 | $ 142,968 |
Other Income And Other Expense (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| All other income and commissions: | ||||
| Deferred compensation | $ 8,171 | $ 1,938 | $ (1,336) | $ 7,412 |
| Other service charges | 4,582 | 5,624 | 9,801 | 9,493 |
| Mortgage banking | 4,138 | 2,572 | 6,569 | 4,458 |
| ATM and interchange fees | 4,009 | 4,262 | 8,221 | 7,503 |
| Letter of credit fees | 1,559 | 1,253 | 3,021 | 2,621 |
| Electronic banking fees | 1,182 | 1,267 | 2,212 | 2,538 |
| Dividend income | 1,057 | 1,809 | 2,187 | 4,122 |
| Insurance commissions | 401 | 566 | 1,190 | 1,190 |
| Gain/(loss) on extinguishment of debt | 0 | 0 | 0 | (1) |
| Other | 4,890 | 6,376 | 12,488 | 10,962 |
| Total | 29,989 | 25,667 | 44,353 | 50,298 |
| All other expense: | ||||
| Expense/(Credit) on unfunded commitments | 11,158 | (489) | 20,388 | (93) |
| Non-service components of net periodic pension and post-retirement cost | 2,961 | 559 | 5,469 | 991 |
| Other insurance and taxes | 2,599 | 2,495 | 5,278 | 5,189 |
| Miscellaneous loan costs | 2,356 | 857 | 3,450 | 1,884 |
| Supplies | 1,933 | 1,342 | 4,344 | 3,146 |
| Employee training and dues | 654 | 1,251 | 1,995 | 2,708 |
| Customer relations | 632 | 1,540 | 2,636 | 3,139 |
| Travel and entertainment | 474 | 2,906 | 3,183 | 5,618 |
| OREO | 437 | 25 | 253 | (341) |
| Tax credit investments | 426 | 267 | 772 | 942 |
| Litigation and regulatory matters (c) | (3) | 8,230 | (16) | 8,217 |
| Other | 12,118 | 26,158 | 21,193 | 33,046 |
| Total | 35,751 | 28,681 | 68,977 | 48,012 |
| Non-Strategic | ||||
| All other income and commissions: | ||||
| Total | $ 710 | 567 | $ 1,506 | 1,515 |
| All other expense: | ||||
| Litigation and regulatory matters (c) | $ 8,300 | $ 8,300 | ||
Components of Other Comprehensive Income/(loss) - Schedule of Changes in AOCI (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
| Balance, beginning of period | $ 5,055,580 | $ 5,076,008 | $ 4,846,521 | $ 4,785,380 | $ 5,076,008 | $ 4,785,380 | ||||||||||
| Net unrealized gains/(losses) | 610 | 55,566 | 102,043 | 108,117 | ||||||||||||
| Amounts reclassified from AOCI | 756 | 3,096 | 2,767 | 6,010 | ||||||||||||
| Other comprehensive income/(loss) | 1,366 | 103,444 | 58,662 | 55,465 | 104,810 | 114,127 | ||||||||||
| Balance, end of period | 5,208,385 | 5,055,580 | 4,926,081 | 4,846,521 | 5,208,385 | 4,926,081 | ||||||||||
| Securities AFS | ||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
| Balance, beginning of period | 119,357 | 31,079 | (27,121) | (75,736) | 31,079 | (75,736) | ||||||||||
| Net unrealized gains/(losses) | (1,030) | 47,991 | 87,248 | 96,606 | ||||||||||||
| Amounts reclassified from AOCI | 0 | 201 | 0 | 201 | ||||||||||||
| Other comprehensive income/(loss) | (1,030) | 48,192 | 87,248 | 96,807 | ||||||||||||
| Balance, end of period | 118,327 | 119,357 | 21,071 | (27,121) | 118,327 | 21,071 | ||||||||||
| Cash Flow Hedges | ||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
| Balance, beginning of period | 16,288 | 3,227 | (6,725) | (12,112) | 3,227 | (12,112) | ||||||||||
| Net unrealized gains/(losses) | 1,640 | 7,575 | 14,795 | 11,511 | ||||||||||||
| Amounts reclassified from AOCI | (1,623) | 1,334 | (1,717) | 2,785 | ||||||||||||
| Other comprehensive income/(loss) | 17 | 8,909 | 13,078 | 14,296 | ||||||||||||
| Balance, end of period | 16,305 | 16,288 | 2,184 | (6,725) | 16,305 | 2,184 | ||||||||||
| Pension and Post-retirement Plans | ||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
| Balance, beginning of period | (271,809) | (273,914) | (287,305) | (288,768) | (273,914) | (288,768) | ||||||||||
| Net unrealized gains/(losses) | 0 | 0 | 0 | 0 | ||||||||||||
| Amounts reclassified from AOCI | 2,379 | 1,561 | 4,484 | 3,024 | ||||||||||||
| Other comprehensive income/(loss) | 2,379 | 1,561 | 4,484 | 3,024 | ||||||||||||
| Balance, end of period | (269,430) | (271,809) | (285,744) | (287,305) | (269,430) | (285,744) | ||||||||||
| Total | ||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
| Balance, beginning of period | (136,164) | [1] | (239,608) | [1] | (321,151) | [2] | (376,616) | [2] | (239,608) | [1] | (376,616) | [2] | ||||
| Other comprehensive income/(loss) | 1,366 | [1] | 103,444 | [1] | 58,662 | [1] | 55,465 | [2] | ||||||||
| Balance, end of period | $ (134,798) | [1] | $ (136,164) | [1] | $ (262,489) | [2] | $ (321,151) | [2] | $ (134,798) | [1] | $ (262,489) | [2] | ||||
| ||||||||||||||||
Components of Other Comprehensive Income/(loss) - Schedule of Reclassification from AOCI (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Interest and fees on loans | $ 305,913 | $ 352,112 | $ 632,512 | $ 684,050 |
| Provision/(benefit) for income taxes | 12,780 | 34,467 | 17,547 | 61,525 |
| Amounts reclassified from AOCI | 756 | 3,096 | 2,767 | 6,010 |
| All other expense | 35,751 | 28,681 | 68,977 | 48,012 |
| Securities AFS | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Amounts reclassified from AOCI | 0 | 201 | 0 | 201 |
| Cash Flow Hedges | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Amounts reclassified from AOCI | (1,623) | 1,334 | (1,717) | 2,785 |
| Pension and Post-retirement Plans | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Amounts reclassified from AOCI | 2,379 | 1,561 | 4,484 | 3,024 |
| Reclassification out of Accumulated Other Comprehensive Income | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Amounts reclassified from AOCI | 756 | 3,096 | 2,767 | 6,010 |
| Reclassification out of Accumulated Other Comprehensive Income | Securities AFS | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Debt securities gains/(losses), net | 0 | 267 | 0 | 267 |
| Provision/(benefit) for income taxes | 0 | (66) | 0 | (66) |
| Amounts reclassified from AOCI | 0 | 201 | 0 | 201 |
| Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Interest and fees on loans | (2,153) | 1,772 | (2,277) | 3,699 |
| Provision/(benefit) for income taxes | 530 | (438) | 560 | (914) |
| Amounts reclassified from AOCI | (1,623) | 1,334 | (1,717) | 2,785 |
| Reclassification out of Accumulated Other Comprehensive Income | Pension and Post-retirement Plans | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Amounts reclassified from AOCI | 2,379 | 1,561 | 4,484 | 3,024 |
| All other expense | 3,155 | 2,074 | 5,946 | 4,017 |
| Reclassification from AOCI, current period, tax | $ (776) | $ (513) | $ (1,462) | $ (993) |
Earnings Per Share - Schedule Of Reconciliation Of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2020 |
Mar. 31, 2020 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Earnings Per Share [Abstract] | ||||||
| Net income/(loss) | $ 56,665 | $ 16,472 | $ 113,742 | $ 103,405 | $ 73,137 | $ 217,147 |
| Net income attributable to noncontrolling interest | 2,851 | 2,852 | 5,703 | 5,672 | ||
| Net income/(loss) attributable to controlling interest | 53,814 | 110,890 | 67,434 | 211,475 | ||
| Preferred stock dividends | 1,550 | $ 1,550 | 1,550 | $ 1,550 | 3,100 | 3,100 |
| Net income/(loss) available to common shareholders | $ 52,264 | $ 109,340 | $ 64,334 | $ 208,375 | ||
| Weighted average common shares outstanding - basic (in shares) | 312,090 | 314,063 | 311,843 | 315,740 | ||
| Effect of dilutive securities (in shares) | 846 | 1,723 | 949 | 1,980 | ||
| Weighted average common shares outstanding - diluted (in shares) | 312,936 | 315,786 | 312,792 | 317,720 | ||
| Net income/(loss) per share available to common shareholders (in dollars per share) | $ 0.17 | $ 0.35 | $ 0.21 | $ 0.66 | ||
| Diluted income/(loss) per share available to common shareholders (in dollars per share) | $ 0.17 | $ 0.35 | $ 0.21 | $ 0.66 | ||
Earnings Per Share - Schedule Of Anti-Dilutive Options and Awards (Details) - $ / shares shares in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Weighted average exercise price of stock options excluded from the calculation of diluted EPS (in dollars per share) | $ 15.80 | $ 21.03 | $ 18.26 | $ 21.39 |
| Employee Stock Option | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Stock options excluded from the calculation of diluted EPS (in shares) | 5,134 | 2,773 | 3,291 | 2,692 |
| Other Equity Awards | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Stock options excluded from the calculation of diluted EPS (in shares) | 4,389 | 2,403 | 3,934 | 1,985 |
Contingencies And Other Disclosures (Details) - USD ($) $ in Millions |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Commitments and Contingencies Disclosure [Abstract] | ||
| Estimated litigation liability | $ 0.3 | |
| Accrued losses on loan repurchase exposure | $ 12.9 | $ 14.5 |
Pension, Savings, And Other Employee Benefits - Narrative (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended |
|---|---|---|
Jun. 30, 2020 |
Dec. 31, 2019 |
|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined benefit plan, expected contributions by employer remainder of year | $ 5.2 | |
| Savings Plan | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Employer investment in qualified defined contribution plan | 100.00% | |
| Maximum percent of employee pre-tax contributions that may be matched by the Company (percent) | 6.00% | |
| Qualified Plan | Pension Benefits | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Estimated social security benefits age | 65 years | |
| Nonqualified Plan | Pension Benefits | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Pension plan contribution | $ 5.2 |
Pension, Savings, And Other Employee Benefits - Schedule Of Components Of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Pension Benefits | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Service cost | $ 8 | $ 8 | $ 16 | $ 16 |
| Interest cost | 5,910 | 7,575 | 11,819 | 15,150 |
| Expected return on plan assets | (6,169) | (9,173) | (12,337) | (18,346) |
| Prior service cost/(credit) | 0 | 0 | 0 | 0 |
| Actuarial (gain)/loss | 3,224 | 2,435 | 6,448 | 4,870 |
| Net periodic benefit cost/(credit) | 2,973 | 845 | 5,946 | 1,690 |
| Other Benefits | ||||
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Service cost | 24 | 24 | 49 | 48 |
| Interest cost | 307 | 351 | 611 | 702 |
| Expected return on plan assets | (311) | (269) | (622) | (538) |
| Prior service cost/(credit) | 8 | 0 | 16 | 0 |
| Actuarial (gain)/loss | (79) | (117) | (154) | (234) |
| Net periodic benefit cost/(credit) | $ (51) | $ (11) | $ (100) | $ (22) |
Business Segment Information - Amounts Of Consolidated Revenue, Expense, Tax And Assets (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
|
Jun. 30, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
|
Jun. 30, 2019
USD ($)
|
Mar. 31, 2019
USD ($)
|
Jun. 30, 2020
USD ($)
segment
|
Jun. 30, 2019
USD ($)
|
|
| Segment Reporting, Measurement Disclosures [Abstract] | ||||||
| Number of operating segments | segment | 4 | |||||
| Segment Reporting Information [Line Items] | ||||||
| Net interest income | $ 305,344 | $ 303,610 | $ 608,146 | $ 598,118 | ||
| Provision/(provision credit) for loan losses | 110,000 | 13,000 | 255,000 | 22,000 | ||
| Noninterest income | 206,269 | 157,993 | 381,025 | 299,038 | ||
| Noninterest expense | 332,168 | 300,394 | 643,487 | 596,484 | ||
| Income/(loss) before income taxes | 69,445 | 148,209 | 90,684 | 278,672 | ||
| Provision/(benefit) for income taxes | 12,780 | 34,467 | 17,547 | 61,525 | ||
| Net income/(loss) | 56,665 | $ 16,472 | 113,742 | $ 103,405 | 73,137 | 217,147 |
| Asset impairments, professional fees, and other customer-contact and technology-related expenses | 9,100 | 9,000 | ||||
| Average assets | 47,934,074 | 41,243,007 | 45,742,993 | 41,064,093 | ||
| Regional Banking | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net interest income | 349,749 | 297,534 | 649,936 | 583,636 | ||
| Provision/(provision credit) for loan losses | 108,311 | 17,776 | 253,752 | 31,218 | ||
| Noninterest income | 79,312 | 81,565 | 161,208 | 154,626 | ||
| Noninterest expense | 202,297 | 192,413 | 413,331 | 391,043 | ||
| Income/(loss) before income taxes | 118,453 | 168,910 | 144,061 | 316,001 | ||
| Provision/(benefit) for income taxes | 26,948 | 39,788 | 31,349 | 73,909 | ||
| Net income/(loss) | 91,505 | 129,122 | 112,712 | 242,092 | ||
| Average assets | 35,732,966 | 30,210,728 | 33,952,986 | 29,515,773 | ||
| Fixed Income | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net interest income | 13,545 | 6,171 | 24,459 | 13,503 | ||
| Noninterest income | 113,235 | 65,622 | 208,958 | 119,429 | ||
| Noninterest expense | 83,039 | 55,534 | 164,102 | 106,067 | ||
| Income/(loss) before income taxes | 43,741 | 16,259 | 69,315 | 26,865 | ||
| Provision/(benefit) for income taxes | 10,679 | 3,840 | 16,778 | 6,297 | ||
| Net income/(loss) | 33,062 | 12,419 | 52,537 | 20,568 | ||
| Average assets | 3,260,362 | 3,127,305 | 3,512,277 | 2,988,548 | ||
| Corporate | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net interest income | (63,493) | (7,146) | (76,852) | (15,060) | ||
| Noninterest income | 12,943 | 9,401 | 9,225 | 22,754 | ||
| Noninterest expense | 43,218 | 56,873 | 58,667 | 98,652 | ||
| Income/(loss) before income taxes | (93,768) | (54,618) | (126,294) | (90,958) | ||
| Provision/(benefit) for income taxes | (25,097) | (13,525) | (31,469) | (25,296) | ||
| Net income/(loss) | (68,671) | (41,093) | (94,825) | (65,662) | ||
| Average assets | 8,168,307 | 6,827,937 | 7,476,249 | 7,439,591 | ||
| Non-Strategic | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net interest income | 5,543 | 7,051 | 10,603 | 16,039 | ||
| Provision/(provision credit) for loan losses | 1,689 | (4,776) | 1,248 | (9,218) | ||
| Noninterest income | 779 | 1,405 | 1,634 | 2,229 | ||
| Noninterest expense | 3,614 | (4,426) | 7,387 | 722 | ||
| Income/(loss) before income taxes | 1,019 | 17,658 | 3,602 | 26,764 | ||
| Provision/(benefit) for income taxes | 250 | 4,364 | 889 | 6,615 | ||
| Net income/(loss) | 769 | 13,294 | 2,713 | 20,149 | ||
| Average assets | $ 772,439 | $ 1,077,037 | $ 801,481 | $ 1,120,181 | ||
Business Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Disaggregation of Revenue [Line Items] | ||||
| Fixed income | $ 112,421 | $ 66,414 | $ 208,056 | $ 120,163 |
| Deposit transactions and cash management | 30,787 | 32,374 | 61,077 | 63,995 |
| Brokerage, management fees and commissions | 13,800 | 14,120 | 29,205 | 26,753 |
| Trust services and investment management | 7,733 | 7,888 | 14,928 | 14,914 |
| Bankcard income | 6,652 | 6,355 | 13,905 | 13,307 |
| Bank-owned life insurance (BOLI) | 6,380 | 5,126 | 10,969 | 9,528 |
| Debt securities gains (losses), net | 0 | (267) | 0 | (267) |
| Equity securities gains/(losses), net | (1,493) | 316 | (1,468) | 347 |
| All other income and commissions (Note 7) | 29,989 | 25,667 | 44,353 | 50,298 |
| Total noninterest income | 206,269 | 157,993 | 381,025 | 299,038 |
| Regional Banking | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Fixed income | 81 | 46 | 202 | 63 |
| Deposit transactions and cash management | 29,541 | 30,632 | 58,368 | 60,658 |
| Brokerage, management fees and commissions | 13,800 | 14,120 | 29,205 | 26,753 |
| Trust services and investment management | 7,750 | 7,902 | 14,963 | 14,958 |
| Bankcard income | 6,551 | 6,597 | 13,703 | 13,640 |
| Bank-owned life insurance (BOLI) | 0 | 0 | 0 | 0 |
| Debt securities gains (losses), net | 0 | 0 | 0 | 0 |
| Equity securities gains/(losses), net | 0 | 0 | 0 | 0 |
| All other income and commissions (Note 7) | 21,589 | 22,268 | 44,767 | 38,554 |
| Total noninterest income | 79,312 | 81,565 | 161,208 | 154,626 |
| Fixed Income | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Fixed income | 112,340 | 65,262 | 207,854 | 118,994 |
| Deposit transactions and cash management | 0 | 1 | 0 | 4 |
| Brokerage, management fees and commissions | 0 | 0 | 0 | 0 |
| Trust services and investment management | 0 | 0 | 0 | 0 |
| Bankcard income | 0 | 0 | 0 | 0 |
| Bank-owned life insurance (BOLI) | 0 | 0 | 0 | 0 |
| Debt securities gains (losses), net | 0 | 0 | 0 | 0 |
| Equity securities gains/(losses), net | 0 | 0 | 0 | 0 |
| All other income and commissions (Note 7) | 895 | 359 | 1,104 | 431 |
| Total noninterest income | 113,235 | 65,622 | 208,958 | 119,429 |
| Corporate | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Fixed income | 0 | 0 | 0 | 0 |
| Deposit transactions and cash management | 1,204 | 1,707 | 2,640 | 3,270 |
| Brokerage, management fees and commissions | 0 | 0 | 0 | 0 |
| Trust services and investment management | (17) | (14) | (35) | (44) |
| Bankcard income | 74 | 60 | 143 | 122 |
| Bank-owned life insurance (BOLI) | 6,380 | 5,126 | 10,969 | 9,528 |
| Debt securities gains (losses), net | 0 | (267) | 0 | (267) |
| Equity securities gains/(losses), net | (1,493) | 316 | (1,468) | 347 |
| All other income and commissions (Note 7) | 6,795 | 2,473 | (3,024) | 9,798 |
| Total noninterest income | 12,943 | 9,401 | 9,225 | 22,754 |
| Non-Strategic | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Fixed income | 0 | 1,106 | 0 | 1,106 |
| Deposit transactions and cash management | 42 | 34 | 69 | 63 |
| Brokerage, management fees and commissions | 0 | 0 | 0 | 0 |
| Trust services and investment management | 0 | 0 | 0 | 0 |
| Bankcard income | 27 | (302) | 59 | (455) |
| Bank-owned life insurance (BOLI) | 0 | 0 | 0 | 0 |
| Debt securities gains (losses), net | 0 | 0 | 0 | 0 |
| Equity securities gains/(losses), net | 0 | 0 | 0 | 0 |
| All other income and commissions (Note 7) | 710 | 567 | 1,506 | 1,515 |
| Total noninterest income | 779 | 1,405 | 1,634 | 2,229 |
| Underwriting, portfolio advisory, and other noninterest income | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Revenue from contract with customer | $ 8,800 | $ 7,100 | $ 18,100 | $ 14,400 |
Variable Interest Entities - Summary Of VIE Consolidated By FHN (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Assets: | ||
| Other assets | $ 2,209,235 | $ 2,046,338 |
| Total assets | 48,644,659 | 43,310,900 |
| Liabilities: | ||
| Other liabilities | 900,884 | 873,079 |
| Total liabilities | 43,436,274 | 38,234,892 |
| Rabbi Trusts Used for Deferred Compensation Plans | ||
| Assets: | ||
| Other assets | 93,212 | 91,873 |
| Total assets | 93,212 | 91,873 |
| Liabilities: | ||
| Other liabilities | 71,783 | 70,830 |
| Total liabilities | $ 71,783 | $ 70,830 |
Variable Interest Entities - Summary of the Impact of Qualifying LIHTC Investments (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Low income housing tax credits | ||||
| Variable Interest Entity [Line Items] | ||||
| Amortization of qualifying LIHTC investments | $ 5,752 | $ 4,287 | $ 11,313 | $ 8,285 |
| Affordable Housing Tax Credits And Other Tax Benefits | (4,758) | (3,522) | (9,356) | (7,151) |
| Other tax benefits related to qualifying LIHTC investments | ||||
| Variable Interest Entity [Line Items] | ||||
| Affordable Housing Tax Credits And Other Tax Benefits | $ (2,583) | $ (1,609) | $ (5,138) | $ (3,219) |
Variable Interest Entities - Summary Of VIE Not Consolidated By FHN (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
||||
|---|---|---|---|---|---|---|---|
| Variable Interest Entity [Line Items] | |||||||
| Loans, net of unearned income | $ 32,708,937 | [1] | $ 31,061,111 | [1] | $ 29,712,810 | ||
| Trading securities | 1,116,450 | 1,346,207 | |||||
| Term borrowings | 2,032,476 | 791,368 | |||||
| Securities available-for-sale | 5,476,156 | 4,445,403 | |||||
| Low Income Housing Partnerships | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 248,712 | 237,668 | |||||
| Liability Recognized | 124,318 | 136,404 | |||||
| Maximum loss exposure, contractual funding commitments | 124,300 | 136,400 | |||||
| Low Income Housing Partnerships | Other Assets | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum loss exposure, current investments | 124,400 | 101,300 | |||||
| Other Tax Credit Investments | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 5,959 | 6,282 | |||||
| Liability Recognized | 0 | 0 | |||||
| Small Issuer Trust Preferred Holdings | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 209,177 | 238,397 | |||||
| Liability Recognized | 0 | 0 | |||||
| On Balance Sheet Trust Preferred Securitization | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 32,144 | 33,265 | |||||
| Liability Recognized | 82,030 | 80,908 | |||||
| Loans, net of unearned income | 112,500 | 112,500 | |||||
| Trading securities | 1,700 | 1,700 | |||||
| Term borrowings | 82,000 | 80,900 | |||||
| Proprietary & Agency Residential Mortgage Securitizations | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 628 | 941 | |||||
| Liability Recognized | 0 | 0 | |||||
| Holdings Of Agency Mortgage Backed Securities | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 4,561,144 | 4,537,685 | |||||
| Liability Recognized | 0 | 0 | |||||
| Trading securities | 700,000 | 500,000 | |||||
| Securities available-for-sale | 3,900,000 | 4,000,000 | |||||
| Commercial Loan Troubled Debt Restructurings | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 43,432 | 45,169 | |||||
| Liability Recognized | 0 | 0 | |||||
| Maximum loss exposure, contractual funding commitments | 1,800 | ||||||
| Loans, net of unearned income | 43,400 | 43,400 | |||||
| Sale Leaseback Transaction | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 18,052 | 18,111 | |||||
| Liability Recognized | 0 | 0 | |||||
| Proprietary Trust Preferred Issuances | |||||||
| Variable Interest Entity [Line Items] | |||||||
| Maximum Loss Exposure | 0 | 0 | |||||
| Liability Recognized | $ 167,014 | $ 167,014 | |||||
| |||||||
Derivatives - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Nov. 01, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Jun. 30, 2020 |
Jun. 30, 2019 |
Dec. 31, 2019 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Collateral cash payables | $ 361,087 | $ 361,087 | $ 145,334 | |||||
| Total trading revenues | 100,300 | $ 54,500 | 178,600 | $ 99,000 | ||||
| Cash flow hedge length of time | 5 years | |||||||
| Hedged amount of foreign currency denominated loans | 13,800 | 13,800 | 18,400 | |||||
| Derivative assets (Note 14) | 599,445 | 599,445 | 182,984 | |||||
| Derivative liability | 75,226 | 75,226 | 44,238 | |||||
| Cash Flow Hedge | Hedged Items | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Variability in cash flows related to debt instruments (primarily loans) | $ 250,000 | |||||||
| Notional | $ 650,000 | |||||||
| Derivative, expired during period | 200,000 | |||||||
| Visa Class B Shares | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Derivative liabilities related to sale | 18,000 | 18,000 | 22,800 | |||||
| Additional Derivative Agreements | Derivative Instruments With Adjustable Collateral Posting Thresholds | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Net fair value of derivative assets with adjustable posting thresholds | 253,700 | 253,700 | 63,100 | |||||
| Net fair value of derivative liabilities with adjustable posting thresholds | 3,800 | 3,800 | 6,400 | |||||
| Collateral received | 340,000 | 340,000 | 148,500 | |||||
| Securities posted collateral | 43,500 | 43,500 | 18,400 | |||||
| Additional Derivative Agreements | Derivative Instruments With Accelerated Termination Provisions | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Net fair value of derivative assets with adjustable posting thresholds | 253,600 | 253,600 | 63,100 | |||||
| Net fair value of derivative liabilities with adjustable posting thresholds | 25,500 | 25,500 | 10,300 | |||||
| Collateral received | 340,000 | 340,000 | 148,500 | |||||
| Securities posted collateral | 65,100 | 65,100 | 22,700 | |||||
| Minimum | Cash Flow Hedge | Hedged Items | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Derivative, term of contract | 3 years | |||||||
| Maximum | Cash Flow Hedge | Hedged Items | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Derivative, term of contract | 7 years | |||||||
| Counterparties | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Collateral cash receivables | 230,200 | 230,200 | 136,600 | |||||
| Collateral cash payables | 130,600 | 130,600 | 53,000 | |||||
| Senior Subordinated Notes | Senior Debt Maturing In December 2019 | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Term borrowings | 400,000 | 400,000 | ||||||
| Debt redeemed | $ 400,000 | |||||||
| Senior Subordinated Notes | Senior Debt Maturing In December 2020 | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Term borrowings | 500,000 | 500,000 | ||||||
| Derivatives, interest rate contracts | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Collateral cash payables | 348,497 | 348,497 | 143,334 | |||||
| Derivative assets (Note 14) | 564,037 | 564,037 | 162,344 | |||||
| Derivative liability | 44,743 | 44,743 | 24,431 | |||||
| Derivatives, interest rate contracts | Cash Flow Hedge | Hedged Items | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Variability in cash flows related to debt instruments (primarily loans) | 700,000 | 700,000 | $ 900,000 | |||||
| Credit Risk Contract | ||||||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
| Derivative asset, notional amount | 93,800 | 93,800 | ||||||
| Derivative liability, notional amount | 246,100 | 246,100 | ||||||
| Derivative assets (Note 14) | 170 | 170 | ||||||
| Derivative liability | $ 830 | $ 830 | ||||||
Derivatives - Derivatives Associated with Fixed Income Trading Activities (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Customer interest rate contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | $ 3,667,914 | $ 2,697,522 |
| Assets | 254,246 | 65,768 |
| Liabilities | 1,827 | 6,858 |
| Offsetting upstream interest rate contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 3,667,914 | 2,697,522 |
| Assets | 7,454 | 2,583 |
| Liabilities | 17,667 | 3,994 |
| Option contracts purchased | Long | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 40,000 | |
| Assets | 131 | |
| Liabilities | 0 | |
| Forwards and futures purchased | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 7,351,632 | 9,217,350 |
| Assets | 31,853 | 17,029 |
| Liabilities | 787 | 3,187 |
| Forwards and futures sold | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 7,744,323 | 9,403,112 |
| Assets | 3,555 | 3,611 |
| Liabilities | $ 29,696 | $ 16,620 |
Derivatives - Derivatives Associated With Interest Rate Risk Management Activities (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Customer interest rate contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | $ 3,667,914 | $ 2,697,522 |
| Assets | 254,246 | 65,768 |
| Liabilities | 1,827 | 6,858 |
| Offsetting upstream interest rate contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 3,667,914 | 2,697,522 |
| Assets | 7,454 | 2,583 |
| Liabilities | 17,667 | 3,994 |
| Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Customer interest rate contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 3,679,991 | 3,044,067 |
| Assets | 297,233 | 90,394 |
| Liabilities | 258 | 3,515 |
| Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Offsetting upstream interest rate contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 3,679,991 | 3,044,067 |
| Assets | 4,877 | 3,537 |
| Liabilities | 24,922 | 9,735 |
| Debt Hedging | Hedging Instruments And Hedged Items | Interest Rate Swap | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Notional | 500,000 | 500,000 |
| Assets | 27 | |
| Liabilities | 69 | |
| Debt Hedging | Hedging Instruments And Hedged Items | Term Borrowings, Par | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Term borrowings | 500,000 | 500,000 |
| Debt Hedging | Hedging Instruments And Hedged Items | Term Borrowings, Cumulative Fair Value Hedging Adjustments | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Term borrowings | 2,142 | (1,604) |
| Debt Hedging | Hedging Instruments And Hedged Items | Term Borrowings, Unamortized Premium (Discount) and Issuance Costs | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Term borrowings | (296) | (740) |
| Debt Hedging | Hedging Instruments And Hedged Items | Term Borrowings | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Term borrowings | $ 501,846 | $ 497,656 |
Derivatives - Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities (Details) - Hedging Instruments And Hedged Items - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Customer Interest Rate Contracts Hedging | Customer interest rate contracts | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gains (losses) related to interest rate derivatives | $ 15,844 | $ 50,706 | $ 211,396 | $ 79,818 |
| Customer Interest Rate Contracts Hedging | Offsetting upstream interest rate contracts | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gains (losses) related to interest rate derivatives | (15,844) | (50,706) | (211,396) | (79,818) |
| Debt Hedging | Interest Rate Swap | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gains (losses) related to interest rate derivatives | (737) | 6,697 | 4,197 | 10,976 |
| Debt Hedging | Term Borrowings | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gains/(Losses) related to term borrowings | $ 720 | $ (6,605) | $ (3,745) | $ (10,871) |
Derivatives - Derivatives Associated With Cash Flow Hedges (Details) - Cash Flow Hedge - Hedging Instruments And Hedged Items - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
Mar. 31, 2017 |
Mar. 31, 2016 |
|---|---|---|---|---|
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Notional | $ 650,000 | |||
| Variability in cash flows related to debt instruments (primarily loans) | $ 250,000 | |||
| Interest Rate Contract | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Variability in cash flows related to debt instruments (primarily loans) | $ 700,000 | $ 900,000 | ||
| Interest Rate Swap | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Notional | 700,000 | 900,000 | ||
| Assets | 29 | |||
| Liabilities | $ 48 | $ 241 |
Derivatives - Gains/(Losses) on Derivatives Associated with Cash Flow Hedges (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain/(loss) expected to be reclassified to earnings in the next twelve months | $ (9,600) | |||
| Hedging Instruments And Hedged Items | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss), cash flow hedges | $ 1,640 | $ 7,575 | 14,795 | $ 11,511 |
| Gain/(loss) reclassified from AOCI into Interest income | (1,623) | 1,334 | (1,717) | 2,785 |
| Hedging Instruments And Hedged Items | Interest Rate Swap | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss), cash flow hedges | $ 69 | $ 11,896 | $ 17,443 | $ 19,114 |
Derivatives - Derivative Assets and Collateral Received (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Derivative [Line Items] | ||
| Gross amounts of recognized assets | $ 599,445 | $ 182,984 |
| Derivative liabilities available for offset | 0 | 0 |
| Net amount | 599,445 | 182,984 |
| Derivative liabilities available for offset | (9,180) | (18,896) |
| Collateral received | (361,087) | (145,334) |
| Net amount | 229,178 | 18,754 |
| Derivative assets not subject to master netting agreements | 300 | 100 |
| Derivatives, interest rate contracts | ||
| Derivative [Line Items] | ||
| Gross amounts of recognized assets | 564,037 | 162,344 |
| Derivative liabilities available for offset | 0 | 0 |
| Net amount | 564,037 | 162,344 |
| Derivative liabilities available for offset | (2,253) | (5,604) |
| Collateral received | (348,497) | (143,334) |
| Net amount | 213,287 | 13,406 |
| Forward Contracts | ||
| Derivative [Line Items] | ||
| Gross amounts of recognized assets | 35,408 | 20,640 |
| Derivative liabilities available for offset | 0 | 0 |
| Net amount | 35,408 | 20,640 |
| Derivative liabilities available for offset | (6,927) | (13,292) |
| Collateral received | (12,590) | (2,000) |
| Net amount | $ 15,891 | $ 5,348 |
Derivatives - Derivative Liabilities and Collateral Pledged (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Derivative [Line Items] | ||
| Gross amounts of recognized liabilities | $ 75,226 | $ 44,238 |
| Derivative assets available for offset | 0 | 0 |
| Derivative liability | 75,226 | 44,238 |
| Derivative assets available for offset | (9,180) | (18,896) |
| Collateral pledged | (62,388) | (25,204) |
| Net amount | 3,658 | 138 |
| Derivative liabilities not subject to master netting agreements | 19,200 | 23,200 |
| Derivatives, interest rate contracts | ||
| Derivative [Line Items] | ||
| Gross amounts of recognized liabilities | 44,743 | 24,431 |
| Derivative assets available for offset | 0 | 0 |
| Derivative liability | 44,743 | 24,431 |
| Derivative assets available for offset | (2,253) | (5,604) |
| Collateral pledged | (38,832) | (18,689) |
| Net amount | 3,658 | 138 |
| Forward Contracts | ||
| Derivative [Line Items] | ||
| Gross amounts of recognized liabilities | 30,483 | 19,807 |
| Derivative assets available for offset | 0 | 0 |
| Derivative liability | 30,483 | 19,807 |
| Derivative assets available for offset | (6,927) | (13,292) |
| Collateral pledged | (23,556) | (6,515) |
| Net amount | $ 0 | $ 0 |
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions - Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Securities Purchased under Agreements to Resell [Abstract] | ||
| Gross amounts of recognized assets | $ 302,267 | $ 586,629 |
| Gross amounts offset in the Statements of Condition | 0 | 0 |
| Net amounts of assets presented in the Statements of Condition | 302,267 | 586,629 |
| Offsetting securities sold under agreements to repurchase | (23,207) | (21,004) |
| Securities collateral (not recognized on FHN’s Statements of Condition) | (277,660) | (562,702) |
| Net amount | $ 1,400 | $ 2,923 |
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions - Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Securities Sold under Agreements to Repurchase [Abstract] | ||
| Gross amounts of recognized liabilities | $ 1,482,585 | $ 716,925 |
| Gross amounts offset in the Statements of Condition | 0 | 0 |
| Net amounts of liabilities presented in the Statements of Condition | 1,482,585 | 716,925 |
| Offsetting securities purchased under agreements to resell | (23,207) | (21,004) |
| Securities/ government guaranteed loans collateral | (1,459,297) | (695,879) |
| Net amount | $ 81 | $ 42 |
Master Netting and Similar Agreements—Repurchase, Reverse Repurchase, and Securities Borrowing Transactions - Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | $ 1,482,585 | $ 716,925 |
| Overnight and Continuous | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 1,462,091 | 712,380 |
| Up to 30 Days | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 20,494 | 4,545 |
| U.S. treasuries | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 539,974 | 41,364 |
| U.S. treasuries | Overnight and Continuous | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 539,974 | 41,364 |
| U.S. treasuries | Up to 30 Days | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 0 | 0 |
| Government agency issued MBS | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 526,612 | 345,718 |
| Government agency issued MBS | Overnight and Continuous | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 512,170 | 341,173 |
| Government agency issued MBS | Up to 30 Days | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 14,442 | 4,545 |
| Government agency issued CMO | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 6,052 | |
| Government agency issued CMO | Overnight and Continuous | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 0 | |
| Government agency issued CMO | Up to 30 Days | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 6,052 | |
| Other U.S. government agencies | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 139,756 | 54,924 |
| Other U.S. government agencies | Overnight and Continuous | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 139,756 | 54,924 |
| Other U.S. government agencies | Up to 30 Days | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 0 | 0 |
| Government guaranteed loans (SBA and USDA) | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 270,191 | 274,919 |
| Government guaranteed loans (SBA and USDA) | Overnight and Continuous | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | 270,191 | 274,919 |
| Government guaranteed loans (SBA and USDA) | Up to 30 Days | ||
| Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items] | ||
| Securities sold under agreements to repurchase | $ 0 | $ 0 |
Fair Value of Assets & Liabilities - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | $ 1,116,450 | $ 1,346,207 |
| Loans held-for-sale | 13,263 | 14,033 |
| Securities available-for-sale | 5,476,156 | 4,445,403 |
| Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Loans held-for-sale | 13,263 | 14,033 |
| Securities available-for-sale | 5,476,156 | 4,445,403 |
| Total other assets | 670,968 | 252,573 |
| Total assets | 7,276,837 | 6,058,216 |
| Total other liabilities | 94,389 | 67,480 |
| Total liabilities | 327,131 | 573,061 |
| Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Loans held-for-sale | 0 | 0 |
| Securities available-for-sale | 0 | 0 |
| Total other assets | 106,672 | 90,098 |
| Total assets | 106,672 | 90,098 |
| Total other liabilities | 30,483 | 19,807 |
| Total liabilities | 30,483 | 19,807 |
| Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Loans held-for-sale | 0 | 0 |
| Securities available-for-sale | 5,450,710 | 4,426,267 |
| Total other assets | 564,126 | 162,475 |
| Total assets | 7,130,658 | 5,934,008 |
| Total other liabilities | 45,091 | 24,878 |
| Total liabilities | 277,833 | 530,459 |
| Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Loans held-for-sale | 13,263 | 14,033 |
| Securities available-for-sale | 25,446 | 19,136 |
| Total other assets | 170 | 0 |
| Total assets | 39,507 | 34,110 |
| Total other liabilities | 18,815 | 22,795 |
| Total liabilities | 18,815 | 22,795 |
| Deferred compensation mutual funds | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 48,572 | 46,815 |
| Deferred compensation mutual funds | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 48,572 | 46,815 |
| Deferred compensation mutual funds | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Deferred compensation mutual funds | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Derivatives, forwards and futures | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 35,408 | 20,640 |
| Total other liabilities | 30,483 | 19,807 |
| Derivatives, forwards and futures | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 35,408 | 20,640 |
| Total other liabilities | 30,483 | 19,807 |
| Derivatives, forwards and futures | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Total other liabilities | 0 | 0 |
| Derivatives, forwards and futures | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Total other liabilities | 0 | 0 |
| Derivatives, interest rate contracts | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 563,866 | 162,413 |
| Total other liabilities | 44,722 | 24,412 |
| Derivatives, interest rate contracts | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Total other liabilities | 0 | 0 |
| Derivatives, interest rate contracts | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 563,866 | 162,413 |
| Total other liabilities | 44,722 | 24,412 |
| Derivatives, interest rate contracts | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Total other liabilities | 0 | 0 |
| Derivatives, other | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 430 | 62 |
| Total other liabilities | 19,184 | 23,261 |
| Derivatives, other | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Total other liabilities | 0 | 0 |
| Derivatives, other | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 260 | 62 |
| Total other liabilities | 369 | 466 |
| Derivatives, other | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 170 | 0 |
| Total other liabilities | 18,815 | 22,795 |
| U.S. treasuries | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 999,975 | 100 |
| U.S. treasuries | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| U.S. treasuries | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 999,975 | 100 |
| U.S. treasuries | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Government agency issued MBS | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 2,487,382 | 2,348,517 |
| Government agency issued MBS | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Government agency issued MBS | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 2,487,382 | 2,348,517 |
| Government agency issued MBS | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Government agency issued CMO | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 1,415,265 | 1,670,492 |
| Government agency issued CMO | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Government agency issued CMO | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 1,415,265 | 1,670,492 |
| Government agency issued CMO | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Other U.S. government agencies | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 417,292 | 306,092 |
| Other U.S. government agencies | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Other U.S. government agencies | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 417,292 | 306,092 |
| Other U.S. government agencies | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| States and municipalities | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 90,383 | 60,526 |
| States and municipalities | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| States and municipalities | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 90,383 | 60,526 |
| States and municipalities | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Corporates and other debt | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 40,413 | 40,540 |
| Corporates and other debt | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Corporates and other debt | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 40,413 | 40,540 |
| Corporates and other debt | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Equity, mutual funds, and other | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 22,692 | 22,643 |
| Equity, mutual funds, and other | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 22,692 | 22,643 |
| Equity, mutual funds, and other | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Equity, mutual funds, and other | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total other assets | 0 | 0 |
| Interest- only strips- AFS | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 25,446 | 19,136 |
| Interest- only strips- AFS | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Interest- only strips- AFS | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 0 | 0 |
| Interest- only strips- AFS | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Securities available-for-sale | 25,446 | 19,136 |
| Fixed Income | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 1,115,822 | 1,345,266 |
| Total trading liabilities - fixed income | 232,742 | 505,581 |
| Fixed Income | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 1,115,822 | 1,345,266 |
| Total trading liabilities - fixed income | 232,742 | 505,581 |
| Fixed Income | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | U.S. treasuries | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 119,121 | 134,844 |
| Total trading liabilities - fixed income | 195,753 | 406,380 |
| Fixed Income | U.S. treasuries | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | U.S. treasuries | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 119,121 | 134,844 |
| Total trading liabilities - fixed income | 195,753 | 406,380 |
| Fixed Income | U.S. treasuries | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | Government agency issued MBS | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 431,765 | 268,024 |
| Total trading liabilities - fixed income | 33 | |
| Fixed Income | Government agency issued MBS | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | |
| Fixed Income | Government agency issued MBS | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 431,765 | 268,024 |
| Total trading liabilities - fixed income | 33 | |
| Fixed Income | Government agency issued MBS | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | |
| Fixed Income | Government agency issued CMO | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 226,732 | 250,652 |
| Fixed Income | Government agency issued CMO | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Fixed Income | Government agency issued CMO | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 226,732 | 250,652 |
| Fixed Income | Government agency issued CMO | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Fixed Income | Other U.S. government agencies | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 91,203 | 124,972 |
| Total trading liabilities - fixed income | 578 | 88 |
| Fixed Income | Other U.S. government agencies | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | Other U.S. government agencies | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 91,203 | 124,972 |
| Total trading liabilities - fixed income | 578 | 88 |
| Fixed Income | Other U.S. government agencies | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | States and municipalities | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 17,467 | 120,744 |
| Total trading liabilities - fixed income | 756 | |
| Fixed Income | States and municipalities | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | |
| Fixed Income | States and municipalities | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 17,467 | 120,744 |
| Total trading liabilities - fixed income | 756 | |
| Fixed Income | States and municipalities | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | |
| Fixed Income | Corporates and other debt | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 229,556 | 445,253 |
| Total trading liabilities - fixed income | 35,655 | 99,080 |
| Fixed Income | Corporates and other debt | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | Corporates and other debt | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 229,556 | 445,253 |
| Total trading liabilities - fixed income | 35,655 | 99,080 |
| Fixed Income | Corporates and other debt | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Total trading liabilities - fixed income | 0 | 0 |
| Fixed Income | Equity, mutual funds, and other | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | (22) | 777 |
| Fixed Income | Equity, mutual funds, and other | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Fixed Income | Equity, mutual funds, and other | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | (22) | 777 |
| Fixed Income | Equity, mutual funds, and other | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Mortgage Banking | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 628 | 941 |
| Mortgage Banking | Level 1 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Mortgage Banking | Level 2 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | 0 | 0 |
| Mortgage Banking | Level 3 | Recurring | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Trading securities | $ 628 | $ 941 |
Fair Value of Assets & Liabilities - Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
| Beginning balance | $ (20,890) | $ (28,970) | $ (22,795) | $ (31,540) |
| Net income | (201) | (19) | (712) | 116 |
| Purchases | 0 | 0 | 0 | 0 |
| Sales | 0 | 0 | 0 | 0 |
| Settlements | 2,446 | 2,444 | 4,862 | 4,879 |
| Net transfers into/(out of) Level 3 | 0 | 0 | 0 | 0 |
| Ending balance | (18,645) | (26,545) | (18,645) | (26,545) |
| Net unrealized gains/(losses) included in net income | (201) | (19) | (712) | 116 |
| Trading securities | ||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
| Beginning balance | 785 | 1,397 | 941 | 1,524 |
| Net income | (157) | 8 | (313) | 29 |
| Purchases | 0 | 0 | 0 | 0 |
| Sales | 0 | 0 | 0 | 0 |
| Settlements | 0 | (150) | 0 | (298) |
| Net transfers into/(out of) Level 3 | 0 | 0 | 0 | 0 |
| Ending balance | 628 | 1,255 | 628 | 1,255 |
| Net unrealized gains/(losses) included in net income | 0 | (36) | 0 | (66) |
| Interest- only strips- AFS | ||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
| Beginning balance | 23,104 | 13,195 | 19,136 | 9,902 |
| Net income | (1,233) | (141) | (2,528) | (1,399) |
| Purchases | 0 | 0 | 5,481 | 86 |
| Sales | 0 | (14,199) | (8,703) | (27,211) |
| Settlements | 0 | 0 | 0 | 0 |
| Net transfers into/(out of) Level 3 | 3,575 | 18,937 | 12,060 | 36,414 |
| Ending balance | 25,446 | 17,792 | 25,446 | 17,792 |
| Net unrealized gains/(losses) included in net income | (959) | (543) | (1,813) | (1,435) |
| Loans held- for-sale | ||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
| Beginning balance | 13,584 | 15,751 | 14,033 | 16,273 |
| Net income | 422 | 321 | 751 | 816 |
| Purchases | 0 | 10 | 0 | 10 |
| Sales | 0 | 0 | 0 | 0 |
| Settlements | (743) | (990) | (1,521) | (2,007) |
| Net transfers into/(out of) Level 3 | 0 | 0 | 0 | 0 |
| Ending balance | 13,263 | 15,092 | 13,263 | 15,092 |
| Net unrealized gains/(losses) included in net income | $ 422 | $ 321 | $ 751 | $ 816 |
Fair Value of Assets & Liabilities - Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | $ 13,263 | $ 14,033 | |||||||
| Loans, net of unearned income | 32,708,937 | [1] | 31,061,111 | [1] | $ 29,712,810 | ||||
| OREO | [2] | 15,134 | 17,838 | ||||||
| Non Recurring | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans, net of unearned income | 66,062 | 42,208 | |||||||
| OREO | 13,177 | 15,660 | |||||||
| Other assets | 9,835 | 10,608 | |||||||
| Non Recurring | Small Business Administration And USDA | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 644,219 | 493,524 | |||||||
| Non Recurring | First Mortgages | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 504 | 516 | |||||||
| Non Recurring | Level 1 | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans, net of unearned income | 0 | 0 | |||||||
| OREO | 0 | 0 | |||||||
| Other assets | 0 | 0 | |||||||
| Non Recurring | Level 1 | Small Business Administration And USDA | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 0 | 0 | |||||||
| Non Recurring | Level 1 | First Mortgages | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 0 | 0 | |||||||
| Non Recurring | Level 2 | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans, net of unearned income | 0 | 0 | |||||||
| OREO | 0 | 0 | |||||||
| Other assets | 0 | 0 | |||||||
| Non Recurring | Level 2 | Small Business Administration And USDA | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 643,445 | 492,595 | |||||||
| Non Recurring | Level 2 | First Mortgages | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 0 | 0 | |||||||
| Non Recurring | Level 3 | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans, net of unearned income | 66,062 | 42,208 | |||||||
| OREO | 13,177 | 15,660 | |||||||
| Other assets | 9,835 | 10,608 | |||||||
| Non Recurring | Level 3 | Small Business Administration And USDA | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | 774 | 929 | |||||||
| Non Recurring | Level 3 | First Mortgages | |||||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||
| Loans held-for-sale | $ 504 | $ 516 | |||||||
| |||||||||
Fair Value of Assets & Liabilities - Gains/(losses) on Nonrecurring Fair Value Measurements (Details) - Non Recurring - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Net gains/(losses), Loans, net of unearned income | $ (1,274) | $ (4,639) | $ (6,113) | $ (4,436) |
| Net gains/(losses), Real estate acquired by foreclosure | (142) | (9) | (169) | 26 |
| Net gains/(losses), Other assets | (426) | (267) | (772) | (942) |
| Gain (loss) on financial assets measured on non-recurring basis | (3,093) | (5,979) | (9,261) | (6,620) |
| First Mortgages | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Net gains/(losses), Loans held for sale | (4) | 10 | 1 | 25 |
| SBAs | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Net gains/(losses), Loans held for sale | $ (1,247) | $ (1,074) | $ (2,208) | $ (1,293) |
Fair Value of Assets & Liabilities - Narrative (Details) - Corporate $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
USD ($)
| |
| Disposition of Acquired Properties | |
| Segment Reporting Information [Line Items] | |
| Asset impairment charges | $ 4.6 |
| Reversed asset impairment charges | 0.7 |
| Disposition of Acquired Properties | 2019 Business Optimization | |
| Segment Reporting Information [Line Items] | |
| Asset impairment charges | 1.5 |
| Leased Assets | 2019 Business Optimization | |
| Segment Reporting Information [Line Items] | |
| Asset impairment charges | 14.0 |
| Reversed asset impairment charges | 1.4 |
| Leased Assets | Rebranding Initiative | |
| Segment Reporting Information [Line Items] | |
| Asset impairment charges | $ 7.1 |
Fair Value of Assets & Liabilities - Schedule Of Unobservable Inputs Utilized In Determining The Fair Value Of Level 3 Recurring And Non-Recurring Measurements (Details) $ in Thousands |
Jun. 30, 2020
USD ($)
month
|
Dec. 31, 2019
USD ($)
month
|
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Securities available-for-sale | $ 5,476,156 | $ 4,445,403 |
| Loans held-for-sale | 13,263 | 14,033 |
| Derivative liability | 75,226 | 44,238 |
| Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability | 18,645 | 22,795 |
| Loans net of unearned income | 66,062 | 42,208 |
| OREO, fair value | 13,177 | 15,660 |
| Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale | 774 | 929 |
| Other Assets | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other assets | $ 9,835 | $ 10,608 |
| Constant prepayment rate | Weighted Average | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.10 | 0.10 |
| Constant prepayment rate | Minimum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.08 | |
| Constant prepayment rate | Maximum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.12 | |
| Bond equivalent yield | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.09 | |
| Bond equivalent yield | Weighted Average | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.08 | 0.09 |
| Prepayment Speeds | Minimum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.08 | |
| Prepayment Speeds | Maximum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.12 | |
| Foreclosure losses | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.63 | 0.64 |
| Foreclosure losses | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.50 | 0.50 |
| Foreclosure losses | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.65 | 0.66 |
| Visa covered litigation resolution amount | Weighted Average | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input, value | $ 5,800,000 | $ 5,800,000 |
| Visa covered litigation resolution amount | Minimum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input, value | 5,400,000 | 5,400,000 |
| Visa covered litigation resolution amount | Maximum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input, value | $ 6,000,000 | $ 6,000,000 |
| Probability of resolution scenarios | Weighted Average | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input | 0.16 | 0.16 |
| Probability of resolution scenarios | Minimum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input | 0.10 | 0.10 |
| Probability of resolution scenarios | Maximum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input | 0.50 | 0.50 |
| Time until resolution | Weighted Average | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input | month | 24 | 29 |
| Time until resolution | Minimum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input | month | 9 | 15 |
| Time until resolution | Maximum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative liability, measurement input | month | 33 | 39 |
| Marketability adjustments for specific properties | Minimum | Appraisals from comparable properties | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans net of unearned income, measurement input | 0.00 | 0.00 |
| Other assets, measurement input | 0.00 | 0.00 |
| Marketability adjustments for specific properties | Maximum | Appraisals from comparable properties | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans net of unearned income, measurement input | 0.10 | 0.10 |
| Other assets, measurement input | 0.25 | 0.25 |
| Borrowing base certificates adjustment | Minimum | Other collateral valuations | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans net of unearned income, measurement input | 0.20 | 0.20 |
| Borrowing base certificates adjustment | Maximum | Other collateral valuations | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans net of unearned income, measurement input | 0.50 | 0.50 |
| Financial Statements/Auction values adjustment | Minimum | Other collateral valuations | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans net of unearned income, measurement input | 0.00 | 0.00 |
| Financial Statements/Auction values adjustment | Maximum | Other collateral valuations | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans net of unearned income, measurement input | 0.25 | 0.25 |
| Adjustment for value changes since appraisal | Minimum | Appraisals from comparable properties | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| OREO measurement input | 0.00 | 0.00 |
| Adjustment for value changes since appraisal | Maximum | Appraisals from comparable properties | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| OREO measurement input | 0.10 | 0.10 |
| Adjustments to current sales yields for specific properties | Minimum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other assets, measurement input | 0.00 | 0.00 |
| Adjustments to current sales yields for specific properties | Maximum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other assets, measurement input | 0.15 | 0.15 |
| Residential Real Estate | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale | $ 13,767 | $ 14,549 |
| First Mortgages | Prepayment Speeds | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.058 | 0.041 |
| First Mortgages | Prepayment Speeds | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.05 | 0.03 |
| First Mortgages | Prepayment Speeds | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.15 | 0.14 |
| First Mortgages | Loss severity | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.136 | 0.143 |
| First Mortgages | Loss severity | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.04 | 0.03 |
| First Mortgages | Loss severity | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.21 | 0.24 |
| HELOC | Prepayment Speeds | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.076 | |
| HELOC | Prepayment Speeds | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.00 | |
| HELOC | Prepayment Speeds | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.12 | |
| HELOC | Loss severity | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.50 | |
| HELOC | Loss severity | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.00 | |
| HELOC | Loss severity | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.72 | |
| Interest- only strips- AFS | Available-for-sale Securities | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Securities available-for-sale | $ 25,446 | $ 19,136 |
| Interest- only strips- AFS | Constant prepayment rate | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Debt securities, available-for-sale, measurement input | 0.12 | |
| Interest- only strips- AFS | Constant prepayment rate | Weighted Average | Discounted cash flow | Available-for-sale Securities | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Debt securities, available-for-sale, measurement input | 0.12 | 0.12 |
| Interest- only strips- AFS | Bond equivalent yield | Weighted Average | Discounted cash flow | Available-for-sale Securities | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Debt securities, available-for-sale, measurement input | 0.15 | 0.16 |
| Interest- only strips- AFS | Bond equivalent yield | Minimum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Debt securities, available-for-sale, measurement input | 0.14 | 0.16 |
| Interest- only strips- AFS | Bond equivalent yield | Maximum | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Debt securities, available-for-sale, measurement input | 0.15 | 0.17 |
| Interest- only strips- AFS | Prepayment Speeds | Discounted cash flow | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Debt securities, available-for-sale, measurement input | 0.12 | |
| Non Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other assets | $ 9,835 | $ 10,608 |
| Non Recurring | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Other assets | $ 9,835 | $ 10,608 |
| SBAs | Non Recurring | Bond equivalent yield | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Loans held-for-sale, measurement input | 0.08 |
Fair Value of Assets & Liabilities - Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Loans held-for-sale | $ 13,263 | $ 14,033 |
| Fair value carrying amount less aggregate unpaid principal - Total loans | (4,594) | (5,245) |
| Nonaccrual loans | 2,740 | 3,532 |
| Fair value carrying amount less aggregate unpaid principal - Nonaccrual loans | (3,034) | (3,114) |
| Loans 90 days or more past due and still accruing | 186 | 163 |
| Fair value carrying amount less aggregate unpaid principal - Loans 90 days or more past due and still accruing | (136) | (105) |
| Aggregate unpaid principal | ||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Loans held-for-sale | 17,857 | 19,278 |
| Nonaccrual loans | 5,774 | 6,646 |
| Loans 90 days or more past due and still accruing | $ 322 | $ 268 |
Fair Value of Assets & Liabilities - Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Mortgage Banking Noninterest Income | Loans held- for-sale | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Changes in fair value included in net income | $ 422 | $ 321 | $ 751 | $ 816 |
Fair Value of Assets & Liabilities - Summary Of Book Value And Estimated Fair Value Of Financial Instruments (Details) - USD ($) $ in Thousands |
Jun. 30, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | $ 32,171,056 | $ 30,860,804 |
| Short-term financial assets: | ||
| Interest-bearing cash | 3,135,844 | 482,405 |
| Federal funds sold | 113,000 | 46,536 |
| Securities purchased under agreements to resell | 302,267 | 586,629 |
| Trading securities | 1,116,450 | 1,346,207 |
| Securities available-for-sale | 5,476,156 | 4,445,403 |
| Securities held-to-maturity | 10,000 | 10,000 |
| Derivative assets | 599,445 | 182,984 |
| Other assets: | ||
| Total assets | 48,644,659 | 43,310,900 |
| Liabilities: | ||
| Trading Liabilities | 232,742 | 505,581 |
| Short-term financial liabilities: | ||
| Federal funds purchased | 778,529 | 548,344 |
| Securities sold under agreements to repurchase | 1,482,585 | 716,925 |
| Other short-term borrowings | 130,583 | 2,253,045 |
| Term borrowings: | ||
| Other long term borrowings | 2,032,476 | 791,368 |
| Derivative liabilities | 75,226 | 44,238 |
| Total liabilities | 43,436,274 | 38,234,892 |
| Fair Value, Inputs, Level 3 | FHLB-Cincinnati Stock | ||
| Term borrowings: | ||
| Restricted investments | 190,400 | 76,000 |
| Fair Value, Inputs, Level 3 | FRB Stock | ||
| Term borrowings: | ||
| Restricted investments | 130,700 | 130,700 |
| Reported Value Measurement | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 32,171,056 | 30,860,804 |
| Short-term financial assets: | ||
| Interest-bearing cash | 3,135,844 | 482,405 |
| Federal funds sold | 113,000 | 46,536 |
| Securities purchased under agreements to resell | 302,267 | 586,629 |
| Total short-term financial assets | 3,551,111 | 1,115,570 |
| Trading securities | 1,116,450 | 1,346,207 |
| Loans held-for-sale | 745,655 | 593,790 |
| Securities available-for-sale | 5,476,156 | 4,445,403 |
| Securities held-to-maturity | 10,000 | 10,000 |
| Derivative assets | 599,704 | 183,115 |
| Other assets: | ||
| Tax credit investments | 257,547 | 247,075 |
| Deferred compensation assets | 48,572 | 46,815 |
| Equity, mutual funds, and other | 343,825 | 229,352 |
| Total other assets | 649,944 | 523,242 |
| Total assets | 44,320,076 | 39,078,131 |
| Liabilities: | ||
| Defined maturity | 2,655,702 | 3,618,337 |
| Trading Liabilities | 232,742 | 505,581 |
| Short-term financial liabilities: | ||
| Federal funds purchased | 778,529 | 548,344 |
| Securities sold under agreements to repurchase | 1,482,585 | 716,925 |
| Other short-term borrowings | 130,583 | 2,253,045 |
| Short Term Financial Liabilities | 2,391,697 | 3,518,314 |
| Term borrowings: | ||
| Real estate investment trust-preferred | 46,270 | 46,236 |
| Secured Borrowings | 15,370 | 21,975 |
| Junior subordinated debentures | 145,262 | 144,593 |
| Other long term borrowings | 1,825,574 | 578,564 |
| Total term borrowings | 2,032,476 | 791,368 |
| Derivative liabilities | 94,389 | 67,480 |
| Total liabilities | 7,407,006 | 8,501,080 |
| Reported Value Measurement | Commercial, financial, and industrial | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 21,075,171 | 19,928,605 |
| Reported Value Measurement | Commercial Real Estate | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 4,756,056 | 4,300,905 |
| Reported Value Measurement | Consumer Real Estate (a) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 5,908,636 | 6,148,696 |
| Reported Value Measurement | Credit Card and Other | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 431,193 | 482,598 |
| Reported Value Measurement | Mortgage loans (elected fair value) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 13,263 | 14,033 |
| Reported Value Measurement | Government guaranteed loans (SBA and USDA) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 644,219 | 493,525 |
| Reported Value Measurement | Other consumer loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 4,758 | 5,197 |
| Reported Value Measurement | Mortgage loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 83,415 | 81,035 |
| Estimate of Fair Value Measurement | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 32,508,563 | 31,218,152 |
| Short-term financial assets: | ||
| Interest-bearing cash | 3,135,844 | 482,405 |
| Federal funds sold | 113,000 | 46,536 |
| Securities purchased under agreements to resell | 302,267 | 586,629 |
| Total short-term financial assets | 3,551,111 | 1,115,570 |
| Trading securities | 1,116,450 | 1,346,207 |
| Loans held-for-sale | 750,611 | 596,535 |
| Securities available-for-sale | 5,476,156 | 4,445,403 |
| Securities held-to-maturity | 9,881 | 10,001 |
| Derivative assets | 599,704 | 183,115 |
| Other assets: | ||
| Tax credit investments | 257,705 | 244,755 |
| Deferred compensation assets | 48,572 | 46,815 |
| Equity, mutual funds, and other | 343,825 | 229,352 |
| Total other assets | 650,102 | 520,922 |
| Total assets | 44,662,578 | 39,435,905 |
| Liabilities: | ||
| Defined maturity | 2,695,759 | 3,631,090 |
| Trading Liabilities | 232,742 | 505,581 |
| Short-term financial liabilities: | ||
| Federal funds purchased | 778,529 | 548,344 |
| Securities sold under agreements to repurchase | 1,482,585 | 716,925 |
| Other short-term borrowings | 130,583 | 2,253,045 |
| Short Term Financial Liabilities | 2,391,697 | 3,518,314 |
| Term borrowings: | ||
| Real estate investment trust-preferred | 47,000 | 47,000 |
| Secured Borrowings | 15,370 | 21,975 |
| Junior subordinated debentures | 138,950 | 142,375 |
| Other long term borrowings | 1,877,080 | 574,287 |
| Total term borrowings | 2,078,400 | 785,637 |
| Derivative liabilities | 94,389 | 67,480 |
| Total liabilities | 7,492,987 | 8,508,102 |
| Loan commitments | 2,492 | 3,656 |
| Standby and other commitments | 6,112 | 5,513 |
| Estimate of Fair Value Measurement | Commercial, financial, and industrial | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 21,216,054 | 20,096,397 |
| Estimate of Fair Value Measurement | Commercial Real Estate | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 4,768,706 | 4,300,489 |
| Estimate of Fair Value Measurement | Consumer Real Estate (a) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 6,085,159 | 6,334,187 |
| Estimate of Fair Value Measurement | Credit Card and Other | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 438,644 | 487,079 |
| Estimate of Fair Value Measurement | Mortgage loans (elected fair value) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 13,263 | 14,033 |
| Estimate of Fair Value Measurement | Government guaranteed loans (SBA and USDA) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 649,175 | 496,270 |
| Estimate of Fair Value Measurement | Other consumer loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 4,758 | 5,197 |
| Estimate of Fair Value Measurement | Mortgage loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 83,415 | 81,035 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Short-term financial assets: | ||
| Interest-bearing cash | 3,135,844 | 482,405 |
| Federal funds sold | 0 | 0 |
| Securities purchased under agreements to resell | 0 | 0 |
| Total short-term financial assets | 3,135,844 | 482,405 |
| Trading securities | 0 | 0 |
| Loans held-for-sale | 0 | 0 |
| Securities available-for-sale | 0 | 0 |
| Securities held-to-maturity | 0 | 0 |
| Derivative assets | 35,408 | 20,640 |
| Other assets: | ||
| Tax credit investments | 0 | 0 |
| Deferred compensation assets | 48,572 | 46,815 |
| Equity, mutual funds, and other | 22,692 | 22,643 |
| Total other assets | 71,264 | 69,458 |
| Total assets | 3,242,516 | 572,503 |
| Liabilities: | ||
| Defined maturity | 0 | 0 |
| Trading Liabilities | 0 | 0 |
| Short-term financial liabilities: | ||
| Federal funds purchased | 0 | 0 |
| Securities sold under agreements to repurchase | 0 | 0 |
| Other short-term borrowings | 0 | 0 |
| Short Term Financial Liabilities | 0 | 0 |
| Term borrowings: | ||
| Real estate investment trust-preferred | 0 | 0 |
| Secured Borrowings | 0 | 0 |
| Junior subordinated debentures | 0 | 0 |
| Other long term borrowings | 0 | 0 |
| Total term borrowings | 0 | 0 |
| Derivative liabilities | 30,483 | 19,807 |
| Total liabilities | 30,483 | 19,807 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Commercial, financial, and industrial | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Commercial Real Estate | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Consumer Real Estate (a) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Credit Card and Other | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Mortgage loans (elected fair value) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Government guaranteed loans (SBA and USDA) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Other consumer loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 1 | Mortgage loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Short-term financial assets: | ||
| Interest-bearing cash | 0 | 0 |
| Federal funds sold | 113,000 | 46,536 |
| Securities purchased under agreements to resell | 302,267 | 586,629 |
| Total short-term financial assets | 415,267 | 633,165 |
| Trading securities | 1,115,822 | 1,345,266 |
| Loans held-for-sale | 653,141 | 500,520 |
| Securities available-for-sale | 5,450,710 | 4,426,267 |
| Securities held-to-maturity | 0 | 0 |
| Derivative assets | 564,126 | 162,475 |
| Other assets: | ||
| Tax credit investments | 0 | 0 |
| Deferred compensation assets | 0 | 0 |
| Equity, mutual funds, and other | 0 | 0 |
| Total other assets | 0 | 0 |
| Total assets | 8,199,066 | 7,067,693 |
| Liabilities: | ||
| Defined maturity | 2,695,759 | 3,631,090 |
| Trading Liabilities | 232,742 | 505,581 |
| Short-term financial liabilities: | ||
| Federal funds purchased | 778,529 | 548,344 |
| Securities sold under agreements to repurchase | 1,482,585 | 716,925 |
| Other short-term borrowings | 130,583 | 2,253,045 |
| Short Term Financial Liabilities | 2,391,697 | 3,518,314 |
| Term borrowings: | ||
| Real estate investment trust-preferred | 0 | 0 |
| Secured Borrowings | 0 | 0 |
| Junior subordinated debentures | 0 | 0 |
| Other long term borrowings | 1,877,080 | 574,287 |
| Total term borrowings | 1,877,080 | 574,287 |
| Derivative liabilities | 45,091 | 24,878 |
| Total liabilities | 7,242,369 | 8,254,150 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Commercial, financial, and industrial | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Commercial Real Estate | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Consumer Real Estate (a) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Credit Card and Other | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Mortgage loans (elected fair value) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Government guaranteed loans (SBA and USDA) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 648,383 | 495,323 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Other consumer loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 4,758 | 5,197 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | Mortgage loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 32,508,563 | 31,218,152 |
| Short-term financial assets: | ||
| Interest-bearing cash | 0 | 0 |
| Federal funds sold | 0 | 0 |
| Securities purchased under agreements to resell | 0 | 0 |
| Total short-term financial assets | 0 | 0 |
| Trading securities | 628 | 941 |
| Loans held-for-sale | 97,470 | 96,015 |
| Securities available-for-sale | 25,446 | 19,136 |
| Securities held-to-maturity | 9,881 | 10,001 |
| Derivative assets | 170 | 0 |
| Other assets: | ||
| Tax credit investments | 257,705 | 244,755 |
| Deferred compensation assets | 0 | 0 |
| Equity, mutual funds, and other | 321,133 | 206,709 |
| Total other assets | 578,838 | 451,464 |
| Total assets | 33,220,996 | 31,795,709 |
| Liabilities: | ||
| Defined maturity | 0 | 0 |
| Trading Liabilities | 0 | 0 |
| Short-term financial liabilities: | ||
| Federal funds purchased | 0 | 0 |
| Securities sold under agreements to repurchase | 0 | 0 |
| Other short-term borrowings | 0 | 0 |
| Short Term Financial Liabilities | 0 | 0 |
| Term borrowings: | ||
| Real estate investment trust-preferred | 47,000 | 47,000 |
| Secured Borrowings | 15,370 | 21,975 |
| Junior subordinated debentures | 138,950 | 142,375 |
| Other long term borrowings | 0 | 0 |
| Total term borrowings | 201,320 | 211,350 |
| Derivative liabilities | 18,815 | 22,795 |
| Total liabilities | 220,135 | 234,145 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Commercial, financial, and industrial | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 21,216,054 | 20,096,397 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Commercial Real Estate | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 4,768,706 | 4,300,489 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Consumer Real Estate (a) | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 6,085,159 | 6,334,187 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Credit Card and Other | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total loans, net of unearned income and allowance for loan losses | 438,644 | 487,079 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Mortgage loans (elected fair value) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 13,263 | 14,033 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Government guaranteed loans (SBA and USDA) | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 792 | 947 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Other consumer loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 0 | 0 |
| Estimate of Fair Value Measurement | Fair Value, Inputs, Level 3 | Mortgage loans- LOCOM | ||
| Short-term financial assets: | ||
| Loans held-for-sale | 83,415 | 81,035 |
| Contractual Amount | ||
| Term borrowings: | ||
| Loan commitments | 12,945,839 | 12,355,220 |
| Standby and other commitments | $ 469,567 | $ 459,268 |
Restructuring, Repositioning, and Efficiency (Details) - 2019 Business Optimization - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
|
| Restructuring Cost and Reserve [Line Items] | ||||
| Total restructuring, repositioning, and efficiency charges | $ 40 | $ 18,668 | $ 3 | $ 30,820 |
| Employee compensation, incentives and benefits | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Total restructuring, repositioning, and efficiency charges | 32 | 2,557 | 89 | 9,062 |
| Professional fees | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Total restructuring, repositioning, and efficiency charges | 7 | 4,242 | 14 | 8,537 |
| Occupancy | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Total restructuring, repositioning, and efficiency charges | 0 | 72 | 2 | 889 |
| Other | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Total restructuring, repositioning, and efficiency charges | $ 1 | $ 11,797 | $ (102) | $ 12,332 |