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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Associated With Fixed Income Trading Activities
The following tables summarize FHN’s derivatives associated with fixed income trading activities as of September 30, 2020 and December 31, 2019:
 
 September 30, 2020
(Dollars in thousands)NotionalAssetsLiabilities
Customer interest rate contracts$3,847,085 $240,218 $2,444 
Offsetting upstream interest rate contracts3,847,085 2,317 16,828 
Forwards and futures purchased15,069,709 41,553 3,456 
Forwards and futures sold15,596,324 5,788 39,018 
 
 December 31, 2019
(Dollars in thousands)NotionalAssetsLiabilities
Customer interest rate contracts$2,697,522 $65,768 $6,858 
Offsetting upstream interest rate contracts2,697,522 2,583 3,994 
Option contracts purchased40,000 131 — 
Forwards and futures purchased9,217,350 17,029 3,187 
Forwards and futures sold9,403,112 3,611 16,620 
Derivatives Associated With Interest Rate Risk Management Activities
The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of September 30, 2020 and December 31, 2019:
 
 September 30, 2020
(Dollars in thousands)NotionalAssetsLiabilities
Customer Interest Rate Contracts Hedging 
Hedging Instruments and Hedged Items: 
Customer interest rate contracts$6,667,600 $487,005 $303 
Offsetting upstream interest rate contracts6,667,600 303 25,997 
Debt Hedging
Hedging Instruments:
Interest rate swaps$500,000 $13 N/A
Hedged Items:
Term borrowings:
Par
N/AN/A$500,000 
Cumulative fair value hedging adjustments
N/AN/A729 
Unamortized premium (discount) and issuance costsN/AN/A(74)
Total carrying value
N/AN/A$500,655 

 December 31, 2019
(Dollars in thousands)NotionalAssetsLiabilities
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items: 
Customer interest rate contracts$3,044,067 $90,394 $3,515 
Offsetting upstream interest rate contracts3,044,067 3,537 9,735 
Debt Hedging
Hedging Instruments:
Interest rate swaps$500,000 N/A$69 
Hedged Items:
Term borrowings:
ParN/AN/A$500,000 
Cumulative fair value hedging adjustmentsN/AN/A(1,604)
Unamortized premium (discount) and issuance costsN/AN/A(740)
Total carrying valueN/AN/A$497,656 
Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities
The following table summarizes gains (losses) on FHN’s derivatives associated with interest rate risk management activities for the three and nine months ended September 30, 2020 and 2019:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
(Dollars in thousands)Gains (Losses)Gains (Losses)Gains (Losses)Gains (Losses)
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items:
Customer interest rate contracts (a)$(14,050)$44,375 $197,346 $124,193 
Offsetting upstream interest rate contracts (a)14,050 (44,375)(197,346)(124,193)
Debt Hedging
Hedging Instruments:
Interest rate swaps (b)$(1,421)$1,994 $2,776 $12,969 
Hedged Items:
Term borrowings (a) (c)1,412 (2,004)(2,333)(12,876)
(a)Gains (losses) included in Other expense within the Consolidated Statements of Income.
(b)Gains (losses) included in Interest expense.
(c)Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.
Derivative Associated With Cash Flow Hedges
The following tables summarize FHN’s derivative activities associated with cash flow hedges as of September 30, 2020 and December 31, 2019:
 September 30, 2020
(Dollars in thousands)NotionalAssetsLiabilities
Cash Flow Hedges 
Hedging Instruments: 
Interest rate contracts$1,500,000 $35,606 N/A
Hedged Items:
Variability in cash flows related to debt instruments (primarily loans)N/A$1,500,000 N/A
 
 December 31, 2019
(Dollars in thousands)NotionalAssetsLiabilities
Cash Flow Hedges
Hedging Instruments: 
Interest rate contracts$900,000 N/A$241 
Hedged Items:
Variability in cash flows related to debt instruments (primarily loans)N/A$900,000 N/A
Gains/(Losses) on Derivatives Associated with Cash Flow Hedges
The following table summarizes gains (losses) on FHN’s derivatives associated with cash flow hedges for the three and nine months ended September 30, 2020 and 2019:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
(Dollars in thousands)Gains (Losses)Gains (Losses)Gains (Losses)Gains (Losses)
Cash Flow Hedges
Hedging Instruments:
Interest rate contracts (a)$(7,799)$3,840 $9,644 $22,954 
       Gain (loss) recognized in Other comprehensive income (loss)(805)1,855 13,998 13,367 
       Gain (loss) reclassified from AOCI into Interest income(2,128)989 (3,853)3,773 
(a)Approximately $26.5 million of pre-tax gains are expected to be reclassified into earnings in the next twelve months.
Derivative Assets And Collateral Received
The following table provides details of derivative assets and collateral received as presented on the Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019:
 
    Gross amounts not offset in 
the Balance Sheets		 
(Dollars in thousands)Gross amounts
of recognized
assets		Gross amounts
offset in the
Balance Sheets		Net amounts of
assets presented
in the Balance Sheets (a)		Derivative
liabilities
available for
offset		Collateral
received		Net amount
Derivative assets:
September 30, 2020
Interest rate derivative contracts$787,139 $— $787,139 $(11,401)$(369,510)$406,228 
Forward contracts47,341 — 47,341 (16,105)(16,213)15,023 
$834,480 $— $834,480 $(27,506)$(385,723)$421,251 
December 31, 2019
Interest rate derivative contracts$162,344 $— $162,344 $(5,604)$(143,334)$13,406 
Forward contracts20,640 — 20,640 (13,292)(2,000)5,348 
$182,984 $— $182,984 $(18,896)$(145,334)$18,754 
(a)Included in Other assets on the Consolidated Balance Sheets. As of September 30, 2020 and December 31, 2019, $2.6 million and $0.1 million of derivative assets have been excluded from these tables because they are generally not subject to master netting or similar agreements.
Derivative Liabilities and Collateral Pledged
The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019:
 
    Gross amounts not offset in the
Balance Sheets		 
(Dollars in thousands)Gross amounts
of recognized
liabilities		Gross amounts
offset in the
Balance Sheets		Net amounts of
liabilities presented
in the Balance Sheets (a)		Derivative
assets available
for offset		Collateral
pledged		Net amount
Derivative liabilities:
September 30, 2020
Interest rate derivative contracts$47,047 $— $47,047 $(11,401)$(30,829)$4,817 
Forward contracts42,474 — 42,474 (16,105)(26,369)— 
$89,521 $— $89,521 $(27,506)$(57,198)$4,817 
December 31, 2019
Interest rate derivative contracts$24,431 $— $24,431 $(5,604)$(18,689)$138 
Forward contracts19,807 — 19,807 (13,292)(6,515)— 
$44,238 $— $44,238 $(18,896)$(25,204)$138 
 
(a)Included in Other liabilities on the Consolidated Balance Sheets. As of September 30, 2020 and December 31, 2019, $19.9 million and $23.2 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
Schedule of Fair Value Derivative Instruments, Statements of Financial Performance and Financial Position, Location The notional and fair values of these contracts are presented in the table below. Balances and activity for periods prior to the IBKC merger were not significant.
September 30, 2020
(Dollars in thousands)NotionalAssetsLiabilities
Mortgage Banking Hedges
Option contracts written$698,744 $21,677 $223 
Forward contracts purchased753,660 859 2,577 


The following table summarizes gains (losses) on FHN's derivatives associated with mortgage banking activities for the three and nine month periods ended September 30, 2020.
Three Months Ended
September 30,		Nine Months Ended
September 30,
20202020
(Dollars in thousands)Gains (Losses)Gains (Losses)
Mortgage Banking Hedges
Option contracts written$7,434 $7,434 
Forward contracts purchased(9,633)(9,633)