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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2011
Derivatives [Abstract]  
Derivatives Associated With Legacy Mortgage Servicing Activities

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

Notional

  

Assets

  

Liabilities

  

Gains/(Losses)

 

Retained Interests Hedging

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

Forwards and Futures (a)(b)

 

 

$

 

3,295,000

  

 

 

$

 

32,709

  

 

 

$

 

614

  

 

 

$

 

35,851

  

Interest Rate Swaps and Swaptions (a)(b)

 

 

$

 

1,781,000

  

 

 

$

 

6,886

  

 

 

$

 

30,582

  

 

 

$

 

29,861

  

Hedged Items:

 

 

 

 

 

 

 

 

Mortgage Servicing Rights (b)(c)

 

 

  

N/A

  

 

 

$

 

140,619

  

 

 

  

N/A

  

 

 

$

 

(27,474

)

 

Other Retained Interests (b)(d)

 

 

  

N/A

  

 

 

$

 

26,106

  

 

 

  

N/A

  

 

 

$

 

2,568

  

 

 

(a)

 

 

  

Assets included in the Other assets section of the Consolidated Statements of Condition. Liabilities included in the Other liabilities section of the Consolidated Statements of Condition.

 

(b)

  

 

  

Gains/losses included in the Mortgage banking income section of the Consolidated Statements of Income.

 

(c)

  

 

  

Assets included in the Mortgage servicing rights section of the Consolidated Statements of Condition.

 

(d)

  

 

  

Assets included in the Trading securities section of the Consolidated Statements of Condition.

 

The following table summarizes FHN's derivatives associated with legacy mortgage servicing activities for the year ended December 31, 2010:

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

Notional

  

Assets

  

Liabilities

  

Gains/(Losses)

 

Retained Interests Hedging

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

Forwards and Futures (a)(b)

 

 

$

 

3,243,000

  

 

 

$

 

5,801

  

 

 

$

 

9,090

  

 

 

$

 

32,158

  

Interest Rate Swaps and Swaptions (a)(b)

 

 

$

 

5,678,000

  

 

 

$

 

36,693

  

 

 

$

 

18,234

  

 

 

$

 

74,804

  

Hedged Items:

 

 

 

 

 

 

 

 

Mortgage Servicing Rights (b)(c)

 

 

  

N/A

  

 

 

$

 

203,412

  

 

 

  

N/A

  

 

 

$

 

(18,913

)

 

Other Retained Interests (b)(d)

 

 

  

N/A

  

 

 

$

 

35,436

  

 

 

  

N/A

  

 

 

$

 

5,806

  

 

 

(a)

 

 

  

Assets included in the Other assets section of the Consolidated Statements of Condition. Liabilities included in the Other liabilities section of the Consolidated Statements of Condition.

 

(b)

  

 

  

Gains/losses included in the Mortgage banking income section of the Consolidated Statements of Income.

 

(c)

  

 

  

Assets included in the Mortgage servicing rights section of the Consolidated Statements of Condition.

 

(d)

  

 

  

Assets included in the Trading securities section of the Consolidated Statements of Condition.

 
Derivatives Associated With Capital Markets Trading Activities

 

 

 

 

 

 

 

(Dollars in thousands)

  

2011

 

Notional

  

Assets

  

Liabilities

 

Customer Interest Rate Contracts

 

 

$

 

1,484,514

  

 

 

$

 

119,313

  

 

 

$

 

3,275

  

Offsetting Upstream Interest Rate Contracts

 

 

  

1,484,514

  

 

 

  

3,275

  

 

 

  

119,314

  

Forwards and Futures Purchased

 

 

  

2,270,093

  

 

 

  

584

  

 

 

  

5,458

  

Forwards and Futures Sold

 

 

  

2,587,568

  

 

 

  

6,440

  

 

 

  

1,171

  

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

2010

 

Notional

  

Assets

  

Liabilities

 

Customer Interest Rate Contracts

 

 

$

 

1,666,711

  

 

 

$

 

67,729

  

 

 

$

 

4,400

  

Offsetting Upstream Interest Rate Contracts

 

 

  

1,666,711

  

 

 

  

4,400

  

 

 

  

67,729

  

Forwards and Futures Purchased

 

 

  

1,609,665

  

 

 

  

2,598

  

 

 

  

4,130

  

Forwards and Futures Sold

 

 

  

1,856,839

  

 

 

  

4,753

  

 

 

  

5,380

  

 
Derivatives Associated With Interest Rate Risk Management Activities

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

2011

 

Notional

  

Assets

  

Liabilities

  

Gains/(Losses)

 

 

Customer Interest Rate Contracts Hedging

 

 

 

 

 

 

 

 

 

Hedging Instruments and Hedged Items:

 

 

 

 

 

 

 

 

 

Customer Interest Rate Contracts (a)

 

 

$

 

1,038,500

  

 

 

$

 

69,650

  

 

 

$

 

474

  

 

 

$

 

(3,333

)

 

 

Offsetting Upstream Interest Rate Contracts (a)

 

 

$

 

1,038,500

  

 

 

$

 

474

  

 

 

$

 

71,750

  

 

 

$

 

3,078

  

 

 

Debt Hedging

 

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

 

Interest Rate Swaps (b)

 

 

$

 

1,604,000

  

 

 

$

 

126,968

  

 

 

  

N/A

  

 

 

$

 

29,320

  

 

Hedged Items:

 

 

 

 

 

 

 

 

 

Term Borrowings (b)

 

 

  

N/A

  

 

 

  

N/A

  

 

 

$

 

1,604,000

(c)

 

 

 

$

 

(29,320

)(d)

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

2010

 

Notional

  

Assets

  

Liabilities

  

Gains/(Losses)

 

 

Customer Interest Rate Contracts Hedging

 

 

 

 

 

 

 

 

 

Hedging Instruments and Hedged Items:

 

 

 

 

 

 

 

 

 

Customer Interest Rate Contracts (a)

 

 

$

 

1,051,220

  

 

 

$

 

71,289

  

 

 

$

 

535

  

 

 

$

 

5,812

  

 

Offsetting Upstream Interest Rate Contracts (a)

 

 

$

 

1,051,220

  

 

 

$

 

535

  

 

 

$

 

74,889

  

 

 

$

 

(5,913

)

 

 

 

Debt Hedging

 

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

 

Interest Rate Swaps (b)

 

 

$

 

1,604,000

  

 

 

$

 

109,863

  

 

 

  

N/A

  

 

 

$

 

20,241

  

 

Hedged Items:

 

 

 

 

 

 

 

 

 

Term Borrowings (b)

 

 

  

N/A

  

 

 

  

N/A

  

 

 

$

 

1,604,000

(c)

 

 

 

$

 

(20,241

)(d)

 

 

 

 

(a)

 

 

  

Gains/losses included in the Other expense section of the Consolidated Statements of Income.

 

(b)

  

 

  

Gains/losses included in the All other income and commissions section of the Consolidated Statements of Income.

 

(c)

  

 

  

Represents par value of term borrowings being hedged.

 

(d)

  

 

  

Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.

 
Schedule Of Derivative Activities Associated With Trust Preferred Loans

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

2011

 

Notional

  

Assets

  

Liabilities

  

Gains/(Losses)

 

 

Loan Portfolio Hedging

 

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

 

$

 

196,250

  

 

 

  

N/A

  

 

 

$

 

8,809

  

 

 

$

 

8,389

  

 

Hedged Items:

 

 

 

 

 

 

 

 

 

Trust Preferred Loans (a)

 

 

  

N/A

  

 

 

$

 

196,250

(b)

 

 

 

  

N/A

  

 

 

$

 

(8,361

)(c)

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

  

2010

 

Notional

  

Assets

  

Liabilities

  

Gains/(Losses)

 

 

Loan Portfolio Hedging

 

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

 

$

 

211,583

  

 

 

  

N/A

  

 

 

$

 

17,198

  

 

 

$

 

2,023

  

 

Hedged Items:

 

 

 

 

 

 

 

 

 

Trust Preferred Loans (a)

 

 

  

N/A

  

 

 

$

 

211,583

(b)

 

 

 

  

N/A

  

 

 

$

 

(1,999

)(c)

 

 

 

 

(a)

 

 

  

Assets included in the Loans, net of unearned income section of the Consolidated Statements of Condition.

 

(b)

  

 

  

Represents principal balance being hedged.

 

(c)

  

 

  

Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.