Fair Value Of Assets And Liabilities (Tables)

6 Months Ended

Jun. 30, 2017

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, 2017:



	June 30, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Trading securities—fixed income:
U.S. treasuries	$	—	$	112,602	$	—	$	112,602
Government agency issued MBS	—		344,218		—		344,218
Government agency issued CMO	—		241,237		—		241,237
Other U.S. government agencies	—		142,596		—		142,596
States and municipalities	—		56,321		—		56,321
Trading loans	—		38,716		—		38,716
Corporate and other debt	—		376,261		5		376,266
Equity, mutual funds, and other	—		1,476		—		1,476
Total trading securities—fixed income	—		1,313,427		5		1,313,432
Trading securities—mortgage banking	—		—		2,459		2,459
Loans held-for-sale	—		1,633		20,587		22,220
Securities available-for-sale:
U.S. treasuries	—		100		—		100
Government agency issued MBS	—		2,129,616		—		2,129,616
Government agency issued CMO	—		1,631,823		—		1,631,823
Interest-only strips	—		—		1,163		1,163
Equity, mutual funds, and other	25,182		—		—		25,182
Total securities available-for-sale	25,182		3,761,539		1,163		3,787,884
Other assets:
Deferred compensation assets	35,064		—		—		35,064
Derivatives, forwards and futures	16,049		—		—		16,049
Derivatives, interest rate contracts	—		75,604		—		75,604
Total other assets	51,113		75,604		—		126,717
Total assets	$	76,295	$	5,152,203	$	24,214	$	5,252,712
Trading liabilities—fixed income:
U.S. treasuries	$	—	$	380,102	$	—	$	380,102
Government agency issued MBS	—		212		—		212
Government agency issued CMO	—		2,124		—		2,124
States and municipalities	—		1,178		—		1,178
Other U.S. government agencies	—		998		—		998
Corporate and other debt	—		171,179		—		171,179
Total trading liabilities—fixed income	—		555,793		—		555,793
Other liabilities:
Derivatives, forwards and futures	12,578		—		—		12,578
Derivatives, interest rate contracts	—		74,389		—		74,389
Derivatives, other	—		50		5,700		5,750
Total other liabilities	12,578		74,439		5,700		92,717
Total liabilities	$	12,578	$	630,232	$	5,700	$	648,510

The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2016:



	December 31, 2016
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Trading securities—fixed income:
U.S. treasuries	$	—	$	146,988	$	—	$	146,988
Government agency issued MBS	—		256,611		—		256,611
Government agency issued CMO	—		150,058		—		150,058
Other U.S. government agencies	—		52,314		—		52,314
States and municipalities	—		60,351		—		60,351
Corporate and other debt	—		227,934		5		227,939
Equity, mutual funds, and other	—		242		—		242
Total trading securities—fixed income	—		894,498		5		894,503
Trading securities—mortgage banking	—		—		2,568		2,568
Loans held-for-sale	—		2,345		21,924		24,269
Securities available-for-sale:
U.S. treasuries	—		100		—		100
Government agency issued MBS	—		2,208,687		—		2,208,687
Government agency issued CMO	—		1,547,958		—		1,547,958
Equity, mutual funds, and other	25,249		—		—		25,249
Total securities available-for-sale	25,249		3,756,745		—		3,781,994
Other assets:
Mortgage servicing rights	—		—		985		985
Deferred compensation assets	32,840		—		—		32,840
Derivatives, forwards and futures	33,587		—		—		33,587
Derivatives, interest rate contracts	—		88,025		—		88,025
Derivatives, other	—		42		—		42
Total other assets	66,427		88,067		985		155,479
Total assets	$	91,676	$	4,741,655	$	25,482	$	4,858,813
Trading liabilities—fixed income:
U.S. treasuries	$	—	$	381,229	$	—	$	381,229
Other U.S. government agencies	—		844		—		844
Corporate and other debt	—		179,775		—		179,775
Total trading liabilities—fixed income	—		561,848		—		561,848
Other liabilities:
Derivatives, forwards and futures	33,274		—		—		33,274
Derivatives, interest rate contracts	—		96,371		—		96,371
Derivatives, other	—		7		6,245		6,252
Total other liabilities	33,274		96,378		6,245		135,897
Total liabilities	$	33,274	$	658,226	$	6,245	$	697,745

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, 2017 and 2016, on a recurring basis are summarized as follows:



	Three Months Ended June 30, 2017
(Dollars in thousands)	Trading securities				Interest- only strips- AFS				Loans held- for-sale				Net derivative liabilities
Balance on April 1, 2017	$	2,335			$	—			$	21,221			$	(5,950	)
Total net gains/(losses) included in:
Net income	271				280				410				(49		)
Purchases	—				1,413				43				—
Settlements	(142		)		(3,317		)		(827		)		299
Net transfers into/(out of) Level 3	—				2,787				(260		)	(c)	—
Balance on June 30, 2017	$	2,464			$	1,163			$	20,587			$	(5,700	)
Net unrealized gains/(losses) included in net income	$	229		(a)	$	(53	)	(b)	$	410		(a)	$	(49	)	(d)



	Three Months Ended June 30, 2016
(Dollars in thousands)	Trading securities				Loans held-for-sale				Securities available- for-sale		Mortgage servicing rights, net			Net derivative liabilities
Balance on April 1, 2016	$	3,057			$	26,287			$	1,500	$	1,725		$	(4,620	)
Total net gains/(losses) included in:
Net income	55				429				—		31			(2,514		)
Purchases	—				327				—		—			—
Sales	—				—				—		(205		)	—
Settlements	(286		)		(1,132		)		—		(145		)	299
Net transfers into/(out of) Level 3	—				(173		)	(c)	—		—			—
Balance on June 30, 2016	$	2,826			$	25,738			$	1,500	$	1,406		$	(6,835	)
Net unrealized gains/(losses) included in net income	$	(5	)	(a)	$	429		(a)	$	—	$	—		$	(2,514	)	(d)


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


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


(c)	Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into real estate acquired by foreclosure (level 3 nonrecurring).


(d)	Included in Other expense.

Changes in Recurring Level 3 Fair Value Measurements

The changes in Level 3 assets and liabilities measured at fair value for the six months ended June 30, 2017 and 2016, on a recurring basis are summarized as follows:



	Six Months Ended June 30, 2017
(Dollars in thousands)	Trading securities				Interest-only strips- AFS				Loans held- for-sale				Net derivative liabilities
Balance on January 1, 2017	$	2,573			$	—			$	21,924			$	(6,245	)
Total net gains/(losses) included in:
Net income	288				280				1,332				(50		)
Purchases	—				1,413				75				—
Settlements	(397		)		(3,317		)		(2,401		)		595
Net transfers into/(out of) Level 3	—				2,787				(343		)	(c)	—
Balance on June 30, 2017	$	2,464			$	1,163			$	20,587			$	(5,700	)
Net unrealized gains/(losses) included in net income	$	202		(a)	$	(53	)	(b)	$	1,332		(a)	$	(50	)	(d)



	Six Months Ended June 30, 2016
(Dollars in thousands)	Trading securities					Loans held-for-sale					Securities available- for-sale		Mortgage servicing rights, net			Net derivative liabilities
Balance on January 1, 2016	$	4,377				$	27,418				$	1,500	$	1,841		$	(4,810	)
Total net gains/(losses) included in:
Net income	202					771					—		31			(2,623		)
Purchases	—					475					—		—			—
Sales	—				—	—				—	—		(205		)	—
Settlements	(1,753		)			(2,497		)			—		(261		)	598
Net transfers into/(out of) Level 3	—					(429		)	(c)		—		—			—
Balance on June 30, 2016	$	2,826				$	25,738				$	1,500	$	1,406		$	(6,835	)
Net unrealized gains/(losses) included in net income	$	79		(a)		$	771		(a)		$	—	$	—		$	(2,623	)	(d)


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


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


(c)	Transfers out of loans held-for-sale level 3 measured on a recurring basis generally reflect movements into real estate acquired by foreclosure (level 3 nonrecurring).


(d)	Included in Other expense.

Nonrecurring Fair Value Measurements

For assets measured at fair value on a nonrecurring basis which were still held on the balance sheet at June 30, 2017, and December 31, 2016, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.



	Carrying value at June 30, 2017
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Loans held-for-sale—SBAs and USDA	$	—	$	331,754	$	1,577	$	333,331
Loans held-for-sale—first mortgages	—		—		613		613
Loans, net of unearned income (a)	—		—		29,260		29,260
Real estate acquired by foreclosure (b)	—		—		7,038		7,038
Other assets (c)	—		—		28,156		28,156



	Carrying value at December 31, 2016
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Loans held-for-sale—SBAs	$	—	$	4,286	$	—	$	4,286
Loans held-for-sale—first mortgages	—		—		638		638
Loans, net of unearned income (a)	—		—		31,070		31,070
Real estate acquired by foreclosure (b)	—		—		11,235		11,235
Other assets (c)	—		—		29,609		29,609


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


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


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

Gains/(losses) on Noncurring Fair Value Measurements

For assets measured on a nonrecurring basis which were still held on the consolidated balance sheet at period end, the following table provides information about the fair value adjustments recorded during the three and six months ended June 30, 2017 and 2016:



	Net gains/(losses) Three months ended June 30,						Net gains/(losses) Six Months Ended June 30,
(Dollars in thousands)	2017			2016			2017			2016
Loans held-for-sale—SBAs and USDA	$	(1,140	)	$	—		$	(1,173	)	$	—
Loans held-for-sale—first mortgages	13			2			16			7
Loans, net of unearned income (a)	(452		)	353			32			(4,319		)
Real estate acquired by foreclosure (b)	(176		)	(314		)	(621		)	(850		)
Other assets (c)	(942		)	(831		)	(1,884		)	(1,537		)
	$	(2,697	)	$	(790	)	$	(3,630	)	$	(6,699	)


(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 foreclosed assets. Balance excludes foreclosed real estate related to government insured mortgages.


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

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

The following tables provide information regarding the unobservable inputs utilized in determining the fair value of level 3 recurring and non-recurring measurements as of June 30, 2017 and December 31, 2016:



(Dollars in Thousands)
Level 3 Class	Fair Value at June 30, 2017		Valuation Techniques	Unobservable Input	Values Utilized
Available-for-sale- securities SBA-interest only strips	$	1,163	Discounted cash flow	Constant prepayment rate	9% - 11%
				Bond equivalent yield	15%- 19%
Loans held-for-sale - residential real estate	21,200		Discounted cash flow	Prepayment speeds - First mortgage	2% - 12%
				Prepayment speeds - HELOC	3% - 15%
				Foreclosure losses	50% - 70%
				Loss severity trends - First mortgage	5% - 50% of UPB
				Loss severity trends - HELOC	15% - 100% of UPB
Loans held-for-sale- unguaranteed interest in SBA loans	1,577		Discounted cash flow	Constant prepayment rate	8% - 12%
				Bond equivalent yield	9% - 10%
Derivative liabilities, other	5,700		Discounted cash flow	Visa covered litigation resolution amount	$4.4 billion - $5.2 billion
				Probability of resolution scenarios	10% - 30%
				Time until resolution	18 - 48 months
Loans, net of unearned income (a)	29,260		Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 10% of appraisal
			Other collateral valuations	Borrowing base certificates adjustment	20% - 50% of gross value
				Financial Statements/Auction values adjustment	0% - 25% of reported value
Real estate acquired by foreclosure (b)	7,038		Appraisals from comparable properties	Adjustment for value changes since appraisal	0% - 10% of appraisal
Other assets (c)	28,156		Discounted cash flow	Adjustments to current sales yields for specific properties	0% - 15% adjustment to yield
			Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 25% of appraisal


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


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


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



(Dollars in Thousands)
Level 3 Class	Fair Value at December 31, 2016		Valuation Techniques	Unobservable Input	Values Utilized
Loans held-for-sale - residential real estate	$	22,562	Discounted cash flow	Prepayment speeds - First mortgage	2% - 13%
				Prepayment speeds - HELOC	3% - 15%
				Foreclosure Losses	50% - 70%
				Loss severity trends - First mortgage	5% - 50% of UPB
				Loss severity trends - HELOC	15% - 100% of UPB
Derivative liabilities, other	6,245		Discounted cash flow	Visa covered litigation resolution amount	$4.4 billion - $5.2 billion
				Probability of resolution scenarios	10% - 30%
				Time until resolution	24 - 54 months
Loans, net of unearned income (a)	31,070		Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 10% of appraisal
			Other collateral valuations	Borrowing base certificates adjustment	20% - 50% of gross value
				Financial Statements/Auction values adjustment	0% - 25% of reported value
Real estate acquired by foreclosure (b)	11,235		Appraisals from comparable properties	Adjustment for value changes since appraisal	0% - 10% of appraisal
Other assets (c)	29,609		Discounted cash flow	Adjustments to current sales yields for specific properties	0% - 15% adjustment to yield
			Appraisals from comparable properties	Marketability adjustments for specific properties	0% - 25% of appraisal


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


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


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

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

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



	June 30, 2017
(Dollars in thousands)	Fair value carrying amount		Aggregate unpaid principal		Fair value carrying amount less aggregate unpaid principal
Residential real estate loans held-for-sale reported at fair value:
Total loans	$	22,220	$	31,580	$	(9,360	)
Nonaccrual loans	6,419		11,736		(5,317		)
Loans 90 days or more past due and still accruing	35		43		(8		)
	December 31, 2016
(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	$	24,269	$	35,262	$	(10,993	)
Nonaccrual loans	6,775		12,910		(6,135		)
Loans 90 days or more past due and still accruing	211		331		(120		)

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

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



	Three Months Ended June 30				Six Months Ended June 30
(Dollars in thousands)	2017		2016		2017		2016
Changes in fair value included in net income:
Mortgage banking noninterest income
Loans held-for-sale	$	410	$	429	$	1,332	$	771

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, 2017:



	June 30, 2017
	Book Value		Fair Value
(Dollars in thousands)	Book Value		Level 1		Level 2		Level 3		Total
Assets:
Loans, net of unearned income and allowance for loan losses
Commercial:
Commercial, financial and industrial	$	12,505,840	$	—	$	—	$	12,424,202	$	12,424,202
Commercial real estate	2,181,526		—		—		2,155,023		2,155,023
Consumer:
Consumer real estate	4,371,390		—		—		4,319,728		4,319,728
Permanent mortgage	391,697		—		—		394,561		394,561
Credit card & other	341,609		—		—		341,647		341,647
Total loans, net of unearned income and allowance for loan losses	19,792,062		—		—		19,635,161		19,635,161
Short-term financial assets:
Interest-bearing cash	573,666		573,666		—		—		573,666
Federal funds sold	34,036		—		34,036		—		34,036
Securities purchased under agreements to resell	657,991		—		657,991		—		657,991
Total short-term financial assets	1,265,693		573,666		692,027		—		1,265,693
Trading securities (a)	1,315,891		—		1,313,427		2,464		1,315,891
Loans held-for-sale (a)	432,771		—		335,193		99,415		434,608
Securities available-for-sale (a) (b)	3,949,592		25,182		3,761,539		162,871		3,949,592
Securities held-to-maturity	10,000		—		—		9,991		9,991
Derivative assets (a)	91,653		16,049		75,604		—		91,653
Other assets:
Tax credit investments	99,217		—		—		98,983		98,983
Deferred compensation assets	35,064		35,064		—		—		35,064
Total other assets	134,281		35,064		—		98,983		134,047
Nonearning assets:
Cash & due from banks	387,053		387,053		—		—		387,053
Fixed income receivables	127,724		—		127,724		—		127,724
Accrued interest receivable	65,330		—		65,330		—		65,330
Total nonearning assets	580,107		387,053		193,054		—		580,107
Total assets	$	27,572,050	$	1,037,014	$	6,370,844	$	20,008,885	$	27,416,743
Liabilities:
Deposits:
Defined maturity	$	1,373,618	$	—	$	1,380,279	$	—	$	1,380,279
Undefined maturity	20,959,731		—		20,959,731		—		20,959,731
Total deposits	22,333,349		—		22,340,010		—		22,340,010
Trading liabilities (a)	555,793		—		555,793		—		555,793
Short-term financial liabilities:
Federal funds purchased	314,892		—		314,892		—		314,892
Securities sold under agreements to repurchase	743,684		—		743,684		—		743,684
Other short-term borrowings	1,044,658		—		1,044,658		—		1,044,658
Total short-term financial liabilities	2,103,234		—		2,103,234		—		2,103,234
Term borrowings:
Real estate investment trust-preferred	46,066		—		—		49,350		49,350
Term borrowings—new market tax credit investment	18,000		—		—		17,961		17,961
Borrowings secured by residential real estate	15,887		—		—		15,093		15,093
Other long term borrowings	953,376		—		966,541		—		966,541
Total term borrowings	1,033,329		—		966,541		82,404		1,048,945
Derivative liabilities (a)	92,717		12,578		74,439		5,700		92,717
Other noninterest-bearing liabilities:
Fixed income payables	28,571		—		28,571		—		28,571
Accrued interest payable	11,639		—		11,639		—		11,639
Total other noninterest-bearing liabilities	40,210		—		40,210		—		40,210
Total liabilities	$	26,158,632	$	12,578	$	26,080,227	$	88,104	$	26,180,909


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


(b)	Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $68.6 million.

The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Statements of Condition as of December 31, 2016:



	December 31, 2016
	Book Value		Fair Value
(Dollars in thousands)	Book Value		Level 1		Level 2		Level 3		Total
Assets:
Loans, net of unearned income and allowance for loan losses
Commercial:
Commercial, financial and industrial	$	12,058,689	$	—	$	—	$	11,918,374	$	11,918,374
Commercial real estate	2,101,671		—		—		2,078,306		2,078,306
Consumer:
Consumer real estate	4,473,395		—		—		4,385,669		4,385,669
Permanent mortgage	406,836		—		—		404,930		404,930
Credit card & other	346,861		—		—		347,577		347,577
Total loans, net of unearned income and allowance for loan losses	19,387,452		—		—		19,134,856		19,134,856
Short-term financial assets:
Interest-bearing cash	1,060,034		1,060,034		—		—		1,060,034
Federal funds sold	50,838		—		50,838		—		50,838
Securities purchased under agreements to resell	613,682		—		613,682		—		613,682
Total short-term financial assets	1,724,554		1,060,034		664,520		—		1,724,554
Trading securities (a)	897,071		—		894,498		2,573		897,071
Loans held-for-sale	111,248		—		6,631		104,617		111,248
Securities available-for-sale (a) (b)	3,943,499		25,249		3,756,745		161,505		3,943,499
Securities held-to-maturity	14,347		—		—		14,773		14,773
Derivative assets (a)	121,654		33,587		88,067		—		121,654
Other assets:
Tax credit investments	100,105		—		—		98,400		98,400
Deferred compensation assets	32,840		32,840		—		—		32,840
Total other assets	132,945		32,840		—		98,400		131,240
Nonearning assets:
Cash & due from banks	373,274		373,274		—		—		373,274
Fixed income receivables	57,411		—		57,411		—		57,411
Accrued interest receivable	62,887		—		62,887		—		62,887
Total nonearning assets	493,572		373,274		120,298		—		493,572
Total assets	$	26,826,342	$	1,524,984	$	5,530,759	$	19,516,724	$	26,572,467
Liabilities:
Deposits:
Defined maturity	$	1,355,133	$	—	$	1,361,104	$	—	$	1,361,104
Undefined maturity	21,317,230		—		21,317,230		—		21,317,230
Total deposits	22,672,363		—		22,678,334		—		22,678,334
Trading liabilities (a)	561,848		—		561,848		—		561,848
Short-term financial liabilities:
Federal funds purchased	414,207		—		414,207		—		414,207
Securities sold under agreements to repurchase	453,053		—		453,053		—		453,053
Other short-term borrowings	83,177		—		83,177		—		83,177
Total short-term financial liabilities	950,437		—		950,437		—		950,437
Term borrowings:
Real estate investment trust-preferred	46,032		—		—		49,350		49,350
Term borrowings—new market tax credit investment	18,000		—		—		17,918		17,918
Borrowings secured by residential real estate	23,126		—		—		21,969		21,969
Other long term borrowings	953,498		—		965,066		—		965,066
Total term borrowings	1,040,656		—		965,066		89,237		1,054,303
Derivative liabilities (a)	135,897		33,274		96,378		6,245		135,897
Other noninterest-bearing liabilities:
Fixed income payables	21,002		—		21,002		—		21,002
Accrued interest payable	10,336		—		10,336		—		10,336
Total other noninterest-bearing liabilities	31,338		—		31,338		—		31,338
Total liabilities	$	25,392,539	$	33,274	$	25,283,401	$	95,482	$	25,412,157


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


(b)	Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $68.6 million.

The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of June 30, 2017 and December 31, 2016:



	Contractual Amount				Fair Value
(Dollars in thousands)	June 30, 2017		December 31, 2016		June 30, 2017		December 31, 2016
Unfunded Commitments:
Loan commitments	$	8,871,103	$	8,744,649	$	2,582	$	2,924
Standby and other commitments	305,330		277,549		3,991		4,037

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

+ References + Details