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Acquisitions and Divestitures Acquisitions and Divestitures (Tables)
 3 Months Ended
Mar. 31, 2018
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following schedule details acquired assets and liabilities and consideration paid, as well as adjustments to record the assets and liabilities at their estimated fair values as of November 30, 2017. These fair value measurements are based on third party and internal valuations.
 
 
Capital Bank Financial Corporation
 
 
As
 
Purchase Accounting/Fair
 
 
 
 
Acquired
 
Value Adjustments (unaudited)
 
As recorded
(Dollars in thousands)
 
(unaudited)
 
2017
 
2018 (a)
 
by FHN
Assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
205,999

 
$
—

 
$
—

 
$
205,999

Trading securities
 
4,758

 
(4,758
)
(b)
—

 
—

Loans held-for-sale
 
—

 
134,003

 
(8,659
)
 
125,344

Securities available-for-sale
 
1,017,867

 
175,526

 
—

 
1,193,393

Securities held-to-maturity
 
177,549

 
(177,549
)
 
—

 
—

Loans
 
7,596,049

 
(320,372
)
 
1,064

 
7,276,741

Allowance for loan losses
 
(45,711
)
 
45,711

 
—

 
—

CBF Goodwill
 
231,292

 
(231,292
)
 
—

 
—

Other intangible assets
 
24,498

 
119,302

 
(2,593
)
 
141,207

Premises and equipment
 
196,298

 
37,054

 
(846
)
 
232,506

OREO
 
43,077

 
(9,149
)
 
(362
)
 
33,566

Other assets
 
617,232

 
41,320

(c)
433

 
658,985

Total assets acquired
 
$
10,068,908

 
$
(190,204
)
 
$
(10,963
)
 
$
9,867,741

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Deposits
 
$
8,141,593

 
$
(849
)
 
$
(642
)
 
$
8,140,102

Securities sold under agreements to repurchase
 
26,664

 
—

 
—

 
26,664

Other short-term borrowings
 
390,391

 
—

 
—

 
390,391

Term borrowings
 
119,486

 
67,683

 
—

 
187,169

Other liabilities
 
59,995

 
4,291

 
1,345

 
65,631

Total liabilities assumed
 
8,738,129

 
71,125

 
703

 
8,809,957

Net assets acquired
 
$
1,330,779

 
$
(261,329
)
 
$
(11,666
)
 
1,057,784

Consideration paid:
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
(1,792,741
)
Cash
 
 
 
 
 
 
 
(423,592
)
Total consideration paid
 
 
 
 
 
 
 
(2,216,333
)
Goodwill
 
 
 
 
 
 
 
$
1,158,549

(a) Amounts reflect adjustments made to provisional fair value estimates based on information received during the three
months ended March 31, 2018. These updated estimates were recorded in FHN's Consolidated Condensed Statement of
Condition as of March 31, 2018 with a corresponding adjustment to goodwill.
(b) Amount represents a conformity adjustment to align with FHN presentation.
(c) Amount primarily relates to a net deferred tax asset recorded for the effects of the purchase accounting adjustments.
Merger And Integration Expense
Total CBF merger and integration expense recognized for the three months ended March 31, 2018 are presented in the table below:
(Dollars in thousands)
 
Professional fees (a)
$
5,632

Employee compensation, incentives and benefits (b)
3,946

Contract employment and outsourcing (c)
1,399

Miscellaneous expense (d)
2,042

All other expense (e)
17,041

Total
$
30,060

(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) Consists of fees for communications and courier, operations services, equipment rentals, depreciation, and maintenance,
supplies, travel and entertainment, computer software, advertising and public relations, and occupancy.
(e) Primarily relates to contract termination charges, lease buyouts, costs of shareholder matters and asset impairments related to the integration, as well as other miscellaneous expenses.