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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Marketable Securities [Abstract]  
Schedule of FHN's Investment Securities
The following tables summarize FHN’s investment securities on March 31, 2020 and December 31, 2019:
 
 
March 31, 2020
(Dollars in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Securities available-for-sale:
 
 
 
 
 
 
 
 
U.S. treasuries
 
$
100

 
$
—

 
$
—

 
$
100

Government agency issued mortgage-backed securities (“MBS”)
 
2,303,720

 
98,797

 
—

 
2,402,517

Government agency issued collateralized mortgage obligations (“CMO”)
 
1,578,623

 
48,320

 
—

 
1,626,943

Other U.S. government agencies
 
366,453

 
7,268

 
(1,224
)
 
372,497

Corporates and other debt
 
40,000

 
621

 
—

 
40,621

States and municipalities
 
74,578

 
4,572

 
(25
)
 
79,125

 
 
$
4,363,474

 
$
159,578

 
$
(1,249
)
 
4,521,803

AFS debt securities recorded at fair value through earnings:

 
 
 
 
 
 
 
 
SBA-interest only strips (a)
 
 
 
 
 
 
 
23,104

Total securities available-for-sale (b)
 
 
 
 
 
 
 
$
4,544,907

Securities held-to-maturity:
 
 
 
 
 
 
 
 
Corporates and other debt
 
$
10,000

 
$
—

 
$
(176
)
 
$
9,824

Total securities held-to-maturity
 
$
10,000

 
$
—

 
$
(176
)
 
$
9,824

 
(a)
SBA-interest only strips are recorded at elected fair value. See Note 16 - Fair Value for additional information.
(b)
Includes $4.0 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
 
 
December 31, 2019
(Dollars in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Securities available-for-sale:
 
 
 
 
 
 
 
 
U.S. treasuries
 
$
100

 
$
—

 
$
—

 
$
100

Government agency issued MBS
 
2,316,381

 
34,692

 
(2,556
)
 
2,348,517

Government agency issued CMO
 
1,667,773

 
9,916

 
(7,197
)
 
1,670,492

Other U.S. government agencies
 
303,463

 
3,750

 
(1,121
)
 
306,092

Corporates and other debt
 
40,054

 
486

 
—

 
40,540

States and municipalities
 
57,232

 
3,324

 
(30
)
 
60,526

 
 
$
4,385,003

 
$
52,168

 
$
(10,904
)
 
4,426,267

AFS debt securities recorded at fair value through earnings:
 
 
 
 
 
 
 
 
SBA-interest only strips (a)
 
 
 
 
 
 
 
19,136

Total securities available-for-sale (b)
 
 
 
 
 
 
 
$
4,445,403

Securities held-to-maturity:
 
 
 
 
 
 
 
 
Corporates and other debt
 
$
10,000

 
$
1

 
$
—

 
$
10,001

Total securities held-to-maturity
 
$
10,000

 
$
1

 
$
—

 
$
10,001

 
(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 $3.8 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
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 March 31, 2020 are provided below:
 
 
 
Held-to-Maturity
 
Available-for-Sale
(Dollars in thousands)
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Within 1 year
 
$
—

 
$
—

 
$
54,958

 
$
55,730

After 1 year; within 5 years
 
—

 
—

 
189,021

 
195,624

After 5 years; within 10 years
 
10,000

 
9,824

 
3,581

 
8,480

After 10 years
 
—

 
—

 
233,571

 
255,613

Subtotal
 
10,000

 
9,824

 
481,131

 
515,447

Government agency issued MBS and CMO (a)
 
—

 
—

 
3,882,343

 
4,029,460

Total
 
$
10,000

 
$
9,824

 
$
4,363,474

 
$
4,544,907

 
(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.
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 months ended March 31, 2020 and 2019.
 
 
Three Months Ended
March 31
(Dollars in thousands)
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 months ended March 31, 2020 and 2019 were not material.
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 March 31, 2020 and December 31, 2019:

 
 
As of March 31, 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
Other U.S. government agencies
 
$
88,334

 
$
(1,224
)
 
$
—

 
$
—

 
$
88,334

 
$
(1,224
)
States and municipalities
 
1,466

 
(25
)
 
—

 
—

 
1,466

 
(25
)
Total temporarily impaired securities
 
$
89,800

 
$
(1,249
)
 
$
—

 
$
—

 
$
89,800

 
$
(1,249
)
 
 
 
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
Government agency issued MBS
 
$
174,983

 
$
(495
)
 
$
192,755

 
$
(2,061
)
 
$
367,738

 
$
(2,556
)
Government agency issued CMO
 
378,815

 
(1,970
)
 
361,124

 
(5,227
)
 
739,939

 
(7,197
)
Other U.S. government agencies
 
98,471

 
(1,121
)
 
—

 
—

 
98,471

 
(1,121
)
States and municipalities
 
3,551

 
(30
)
 
—

 
—

 
3,551

 
(30
)
Total temporarily impaired securities
 
$
655,820

 
$
(3,616
)
 
$
553,979

 
$
(7,288
)
 
$
1,209,799

 
$
(10,904
)