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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Available For Sale And Held For Maturity Securities [Table Text Block]
The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at September 30, 2016 and December 31, 2015 were as follows (in thousands):
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
September 30, 2016
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
48,546

 
$
190

 
$
—

 
$
48,736

Obligations of states and political subdivisions
155,715

 
5,297

 
(93
)
 
160,919

Mortgage-backed securities: GSE residential
334,872

 
6,420

 
(102
)
 
341,190

Trust preferred securities
3,075

 
—

 
(1,414
)
 
1,661

Other securities
4,039

 
87

 
(6
)
 
4,120

Total available-for-sale
$
546,247

 
$
11,994

 
$
(1,615
)
 
$
556,626

Held-to-maturity:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
101,679

 
$
1,033

 
$
(64
)
 
$
102,648

 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
90,368

 
$
41

 
$
(268
)
 
$
90,141

Obligations of states and political subdivisions
107,164

 
3,608

 
(55
)
 
110,717

Mortgage-backed securities: GSE residential
312,132

 
1,374

 
(1,452
)
 
312,054

Trust preferred securities
3,130

 
—

 
(1,224
)
 
1,906

Other securities
4,035

 
29

 
(34
)
 
4,030

Total available-for-sale
$
516,829

 
$
5,052

 
$
(3,033
)
 
$
518,848

Held-to-maturity:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
85,208

 
$
743

 
$
(214
)
 
$
85,737


Trust preferred securities represents one trust preferred pooled security issued by First Tennessee Financial (“FTN”). The unrealized loss of this security, which has a remaining maturity of twenty-one years, is primarily due to its long-term nature, a lack of demand or inactive market for the security, and concerns regarding the underlying financial institutions that have issued the trust preferred security. See the heading “Trust Preferred Securities” for further information regarding this security.
Realized Gains and Losses From Sale of Securities
Realized gains and losses resulting from sales of securities were as follows during the nine months ended September 30, 2016 and 2015 (in thousands):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2016
 
2015
 
2016
 
2015
Gross gains
$
466

 
$
1

 
$
1,130

 
$
231

Gross losses
—

 
—

 
—

 
—
Investments Classified by Contractual Maturity Date
The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at September 30, 2016 and the weighted average yield for each range of maturities (dollars in thousands):
 
One year or less
 
After 1 through 5 years
 
After 5 through 10 years
 
After ten years
 
Total
Available-for-sale:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
15,531

 
$
28,563

 
$
4,642

 
$
—

 
$
48,736

Obligations of state and political subdivisions
11,722

 
85,629

 
61,104

 
2,464

 
160,919

Mortgage-backed securities: GSE residential
1,488

 
321,587

 
18,115

 
—

 
341,190

Trust preferred securities
—

 
—

 
—

 
1,661

 
1,661

Other securities
—

 
4,010

 
—

 
110

 
4,120

Total available-for-sale investments
$
28,741

 
$
439,789

 
$
83,861

 
$
4,235

 
$
556,626

Weighted average yield
2.34
%
 
2.35
%
 
2.63
%
 
2.22
%
 
2.39
%
Full tax-equivalent yield
3.33
%
 
2.69
%
 
3.99
%
 
3.09
%
 
2.92
%
Held to Maturity:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
72,030

 
$
24,570

 
$
5,079

 
$
—

 
$
101,679

Weighted average yield
1.80
%
 
2.11
%
 
2.06
%
 
—
%
 
1.89
%
Full tax-equivalent yield
1.80
%
 
2.11
%
 
2.06
%
 
—
%
 
1.89
%


The weighted average yields are calculated on the basis of the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 35% tax rate.  With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at September 30, 2016.
Fair value of investments with sustained gross unrealized losses
The following table presents the aging of gross unrealized losses and fair value by investment category as of September 30, 2016 and December 31, 2015 (in thousands):
 
Less than 12 months
 
12 months or more
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Obligations of states and political subdivisions
13,235

 
(93
)
 
—

 
—

 
13,235

 
(93
)
Mortgage-backed securities: GSE residential
7,381

 
(17
)
 
6,309

 
(85
)
 
13,690

 
(102
)
Trust preferred securities
—

 
—

 
1,661

 
(1,414
)
 
1,661

 
(1,414
)
Other securities
—

 
—

 
1,994

 
(6
)
 
1,994

 
(6
)
Total
$
20,616

 
$
(110
)
 
$
9,964

 
$
(1,505
)
 
$
30,580

 
$
(1,615
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
14,928

 
$
(64
)
 
$
—

 
$
—

 
$
14,928

 
$
(64
)
December 31, 2015
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
34,942

 
$
(142
)
 
$
12,971

 
$
(126
)
 
$
47,913

 
$
(268
)
Obligations of states and political subdivisions
3,168

 
(32
)
 
979

 
(23
)
 
4,147

 
(55
)
Mortgage-backed securities: GSE residential
164,249

 
(841
)
 
20,011

 
(611
)
 
184,260

 
(1,452
)
Trust preferred securities
—

 
—

 
1,906

 
(1,224
)
 
1,906

 
(1,224
)
Other securities
1,966

 
(34
)
 
—

 
—

 
1,966

 
(34
)
Total
$
204,325

 
$
(1,049
)
 
$
35,867

 
$
(1,984
)
 
$
240,192

 
$
(3,033
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
35,845

 
$
(214
)
 
$
—

 
$
—

 
$
35,845

 
$
(214
)
Trust Preferred Securities [Table Text Block]
Following are the details for the currently impaired trust preferred security (in thousands):
 
Book
Value
 
Fair Value
 
Unrealized Gains (Losses)
 
Other-than-
temporary
Impairment
Recorded To-date
PreTSL XXVIII
$
3,075

 
$
1,661

 
$
(1,414
)
 
$
(1,111
)
Credit Losses Recognized on Investments
Credit Losses Recognized on Investments. As described above, the Company’s investment in trust preferred security has experienced fair value deterioration due to credit losses but is not otherwise other-than-temporarily impaired. The following table provides information about the trust preferred security for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income (loss) for the nine months ended September 30, 2016 and 2015 (in thousands).

 
Accumulated Credit Losses
 
September 30, 2016
 
September 30, 2015
Credit losses on trust preferred securities held
 
 
 
Beginning of period
$
1,111

 
$
1,111

Additions related to OTTI losses not previously recognized
—

 
—

Reductions due to sales / (recoveries)
—

 
—

Reductions due to change in intent or likelihood of sale
—

 
—

Additions related to increases in previously recognized OTTI losses
—

 
—

Reductions due to increases in expected cash flows
—

 
—

End of period
$
1,111

 
$
1,111