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Fair Value Of Assets And Liabilities (Tables)
 12 Months Ended
Dec. 31, 2014
Fair Value Of Assets And Liabilities [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
Recurring Fair Value Measurements
The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2014:
December 31, 2014
(Dollars in thousands)Level 1  Level 2  Level 3  Total
Trading securities - capital markets:      
U.S. treasuries$-  $115,908  $-  $115,908  
Government agency issued MBS-  330,443  -  330,443  
Government agency issued CMO-  188,632  -  188,632  
Other U.S. government agencies-  127,263  -  127,263  
States and municipalities-  54,647  -  54,647  
Trading Loans-15,088-15,088
Corporate and other debt-  354,178  5  354,183  
Equity, mutual funds, and other-  2,590  -  2,590  
Total trading securities - capital markets -  1,188,749  5  1,188,754  
Trading securities - mortgage banking:      
Principal only-  -  4,137  4,137  
Interest only-  -  167  167  
Subordinated bonds--1,3331,333
Total trading securities - mortgage banking-  -  5,637  5,637  
Loans held-for-sale-  -  27,910  27,910  
Securities available-for-sale:      
U.S. treasuries-  100  -  100  
Government agency issued MBS-  751,165  -  751,165  
Government agency issued CMO-  2,611,266  -  2,611,266  
Other U.S. government agencies-  -  1,807  1,807  
States and municipalities-  8,705  1,500  10,205  
Equity, mutual funds, and other26,264  -  -  26,264  
Total securities available-for-sale26,264  3,371,236  3,307  3,400,807  
Mortgage servicing rights-  -  2,517  2,517  
Other assets:      
Deferred compensation assets25,665  -  -  25,665  
Derivatives, forwards and futures2,345  -  -  2,345  
Derivatives, interest rate contracts -  131,631  -  131,631  
Derivatives, other-112-112
Total other assets28,010  131,743  -  159,753  
Total assets$54,274  $4,691,728  $39,376  $4,785,378  
Trading liabilities - capital markets:      
U.S. treasuries$-  $286,016  $-  $286,016  
Other U.S. government agencies-  1,958  -  1,958  
Corporate and other debt-  306,341  -  306,341  
Total trading liabilities - capital markets-  594,315  -  594,315  
Other liabilities:  
Derivatives, forwards and futures2,035  -  -  2,035  
Derivatives, interest rate contracts -  111,964  -  111,964  
Derivatives, other-  -  5,2405,240
Total other liabilities2,035111,9645,240119,239
Total liabilities$2,035  $706,279  $5,240  $713,554  

The following table presents the balance of assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:
  December 31, 2013
(Dollars in thousands)Level 1  Level 2  Level 3  Total
Trading securities - capital markets:      
U.S. treasuries$-  $70,472  $-  $70,472
Government agency issued MBS-  231,398  -  231,398
Government agency issued CMO-  55,515  -  55,515
Other U.S. government agencies-  108,265  -  108,265
States and municipalities-  30,814  -  30,814
Corporate and other debt-  297,440  5  297,445
Equity, mutual funds, and other-  614  -614
Total trading securities - capital markets -  794,518  5  794,523
Trading securities - mortgage banking:      
Principal only-  -  5,110  5,110
Interest only-  -  2,085  2,085
Total trading securities - mortgage banking-  -  7,195  7,195
Loans held-for-sale-  -  230,456  230,456
Securities available-for-sale:      
U.S. treasuries-  39,996  -  39,996
Government agency issued MBS-  823,689  -  823,689
Government agency issued CMO-  2,290,937  -  2,290,937
Other U.S. government agencies-  -  2,326  2,326
States and municipalities-  13,655  1,500  15,155
Venture capital-  -  4,300  4,300
Equity, mutual funds, and other23,259  -  -  23,259
Total securities available-for-sale23,259  3,168,277  8,126  3,199,662
Mortgage servicing rights-  -  72,793  72,793
Other assets:      
Deferred compensation assets23,880  -  -  23,880
Derivatives, forwards and futures3,020  -  -  3,020
Derivatives, interest rate contracts-  178,846  -  178,846
Total other assets26,900  178,846  -  205,746
Total assets$50,159  $4,141,641  $318,575  $4,510,375
Trading liabilities - capital markets:      
U.S. treasuries$-  $210,096  $-  $210,096
Government agency issued MBS-  854  -  854
Other U.S. government agencies-  3,900  -  3,900
Corporate and other debt-  153,498  -  153,498
Total trading liabilities - capital markets-  368,348  -  368,348
Other liabilities:
Derivatives, forwards and futures4,343  -  -  4,343
Derivatives, interest rate contracts-  147,021  -  147,021
Derivatives, other-  1  2,915  2,916
Total other liabilities4,343  147,022  2,915  154,280
Total liabilities$4,343  $515,370  $2,915  $522,628
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value
Changes in Recurring Level 3 Fair Value Measurements
The changes in Level 3 assets and liabilities measured at fair value for the twelve months ended December 31, 2014, 2013, and 2012, on a recurring basis are summarized as follows:
  Twelve Months Ended December 31, 2014
Securities available-for-saleMortgage
  TradingLoans held-Investment VentureservicingNet derivative
(Dollars in thousands)securitiesfor-saleportfolioCapitalrights, netliabilities
Balance on January 1, 2014$7,200  $230,456  $3,826$4,300  $72,793  $(2,915)
Total net gains/(losses) included in:
  Net income149  52,494  -(2,995)  1,248  (5,981)
  Other comprehensive income / (loss)-  -  (64)-  -  -  
Purchases1,559  5,654  --  -  -  
Issuances-  -  --  -  -  
Sales(1,715)  (236,975)  -(5)  (70,204)  -  
Settlements(1,550)(19,806)(455)(1,300)  (1,320)3,656  
Net transfers into/(out of) Level 3-  (3,913) (b)  --  -  -  
Balance on December 31, 2014$5,643  $27,910  $3,307$-  $2,517  $(5,240)
Net unrealized gains/(losses) included in net income$225 (a)  $1,991 (a)  $-$-$43 (a)  $(5,981) (c)  

Twelve Months Ended December 31, 2013
Securities available-for-saleMortgageOther
TradingLoans held-Investment VentureservicingNet derivativeshort-term
(Dollars in thousands)securitiesfor-saleportfolio Capitalrights, netliabilitiesborrowings
Balance on January 1, 2013$17,992  $221,094  $5,253$4,300$114,311  $(2,175)$(11,156)
Total net gains/(losses) included in:
Net income5,028  (4,387)--20,182  (2,013)(3)
Other comprehensive income /(loss)-  -  (114)--  -  -
Purchases-  69,929  ---  -  -
Issuances-  -  ---  -  -
Sales(7,784)  -  --(39,633)  -  11,159
Settlements(8,036)(40,369)(1,313)-(22,067)1,273  -
Net transfers into/(out of) Level 3 -  (15,811) (b)---  -  -
Balance on December 31, 2013$7,200  $230,456  $3,826$4,300$72,793  $(2,915)$-
Net unrealized gains/(losses) included in net income$1,237 (a)$(4,387) (a)$-$-$17,394 (a)$2,013 (c)$- (a)

Twelve Months Ended December 31, 2012
Securities available-for-saleMortgageOther
TradingLoans held-InvestmentVentureservicing Net derivativeshort-term
(Dollars in thousands)securitiesfor-saleportfoliocapitalrightsliabilitiesborrowings
Balance on January 1, 2012$18,059$210,487$7,262$12,179$144,069$(11,820)$(14,833)
Total net gains/(losses) included in:
Net income3,678(2,618)-371(5,075)(1,757)3,677
Other comprehensive income--(234)----
Purchases-60,111-----
Sales---(8,250)---
Settlements(9,225)(27,032)(1,775)-(24,683)11,402-
Net transfers into/(out of) Level 3 5,480(19,854) (b)-----
Balance on December 31, 2012$17,992$221,094$5,253$4,300$114,311$(2,175)$(11,156)
Net unrealized gains/(losses) included in net income$2,084 (a)$(2,618) (a)$-$(4,700) (d)$(3,957) (a)$(1,757) (c)$3,677 (a)

  • Primarily included in mortgage banking income on the Consolidated Statements of Income.
  • Transfers out of recurring loans held-for-sale level 3 balances reflect movements out of loans held-for-sale and into real estate acquired by foreclosure (level 3 nonrecurring).
  • Included in Other expense.
  • Represents recognized gains and losses attributable to venture capital investments classified within securities available-for-sale that are included in securities gains/(losses) in noninterest income.
Nonrecurring Fair Value Measurements

Nonrecurring Fair Value Measurements

From time to time, FHN may be required to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of LOCOM accounting or write-downs of individual assets. For assets measured at fair value on a nonrecurring basis which were still held on the balance sheet at December 31, 2014, 2013, and 2012, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment, the related carrying value, and the fair value adjustments recorded during the respective periods.

Twelve Months Ended
Carrying value at December 31, 2014December 31, 2014
(Dollars in thousands)Level 1Level 2Level 3TotalNet gains/(losses)
Loans held-for-sale - SBAs$-$3,322$-$3,322$46
Loans held-for-sale - first mortgages--846846(470)
Loans, net of unearned income (a)--40,53140,531(714)
Real estate acquired by foreclosure (b)--30,43030,430(3,465)
Other assets (c)--28,66028,660(2,087)
$(6,690)
Twelve Months Ended
Carrying value at December 31, 2013December 31, 2013
(Dollars in thousands)Level 1Level 2Level 3TotalNet gains/(losses)
Loans held-for-sale - SBAs$-$6,185$-$6,185$(122)
Loans held-for-sale - first mortgages--9,4579,457139
Loans, net of unearned income (a)--62,83962,839(3,109)
Real estate acquired by foreclosure (b)--45,75345,753(4,987)
Other assets (c)--30,81030,810(2,021)
$(10,100)
Twelve Months Ended
Carrying value at December 31, 2012December 31, 2012
(Dollars in thousands)Level 1Level 2Level 3TotalNet gains/(losses)
Loans held-for-sale - SBAs$-$23,902$-$23,902$15
Loans held-for-sale - first mortgages--12,05412,054(436)
Loans, net of unearned income (a)--117,064117,064(55,948)
Real estate acquired by foreclosure (b)--41,76741,767(9,422)
Other assets (c)--32,37032,370(4,478)
$(70,269)
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

  • Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision.
  • Represents the fair value and related 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.
  • 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
Level 3 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 December 31, 2014 and 2013:
(Dollars in Thousands)
Fair Value at
Level 3 ClassDecember 31, 2014Valuation TechniquesUnobservable InputValues Utilized
Trading securities - mortgage (a)$5,637Discounted cash flowPrepayment speeds 41% - 46%
Discount rate8% - 56%
Loans held-for-sale - residential real estate28,756Discounted cash flowPrepayment speeds - First mortgage2% - 12%
Prepayment speeds - HELOC5% - 15%
Foreclosure losses50% - 60%
Loss severity trends - First mortgage10% - 70% of UPB
Loss severity trends - HELOC45% - 100% of UPB
Draw rate - HELOC5% - 12%
Mortgage servicing rights (a)2,517Discounted cash flowPrepayment speeds 15.2 CPR
Discount rate9.8%
Cost to service$141.40/Loan
Earnings on escrow1.385%
Derivative liabilities, other5,240Discounted cash flowVisa covered litigation resolution amount$4.8 billion - $5.6 billion
Probability of resolution scenarios10% - 30%
Time until resolution12 - 48 months
Loans, net of unearned income (b)40,531Appraisals from comparable propertiesMarketability adjustments for specific properties0% - 10% of appraisal
Other collateral valuationsBorrowing base certificates adjustment20% - 50% of gross value
Financial Statements/Auction values adjustment0% - 25% of reported value
Real estate acquired by foreclosure (c)30,430Appraisals from comparable propertiesAdjustment for value changes since appraisal0% - 10% of appraisal
Other assets (d)28,660Discounted cash flowAdjustments to current sales yields for specific properties0% - 15% adjustment to yield
Appraisals from comparable propertiesMarketability adjustments for specific properties0% - 25% of appraisal
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

  • The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph.
  • Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision.
  • 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.
  • Represents tax credit investments accounted for under the equity method.

(Dollars in Thousands)
Fair Value at
Level 3 ClassDecember 31, 2013Valuation TechniquesUnobservable InputValues Utilized
Trading securities - mortgage (a)$7,195Discounted cash flowPrepayment speeds38% - 45%
Discount rateNM
Loans held-for-sale - residential real estate239,913Discounted cash flowPrepayment speeds - First mortgage6% - 10%
Prepayment speeds - HELOC3% - 12%
Credit spreads2% - 4%
Delinquency adjustment factor15% - 25% added to credit spread
Loss severity trends - First mortgage50% - 60% of UPB
Loss severity trends - HELOC35% - 100% of UPB
Draw Rate - HELOC2% - 11%
Venture capital investments4,300Industry comparablesAdjustment for minority interest and small business status40% - 50% discount
Discounted cash flowDiscount rate25% - 30%
Earnings capitalization rate20% - 25%
Mortgage servicing rights (a)72,793Discounted cash flowPrepayment speeds19.7 CPR
Discount rate8.6%
Cost to service$162.00/Loan
Earnings on escrow1.385%
Derivative liabilities, other2,915Discounted cash flowVisa covered litigation resolution amount$4.4 billion - $5.0 billion
Probability of resolution scenarios15% - 45%
Time until resolution6 - 30 months
Loans, net of unearned income (b)62,839Appraisals from comparable propertiesMarketability adjustments for specific properties0% - 10% of appraisal
Other collateral valuationsBorrowing base certificates adjustment20% - 50% of gross value
Financial Statements/Auction Values adjustment0% - 25% of reported value
Real estate acquired by foreclosure (c)45,753Appraisals from comparable propertiesAdjustment for value changes since appraisal0% - 10% of appraisal
Other assets (d)30,810Discounted cash flowAdjustments to current sales yields for specific properties0% - 15% adjustment to yield
Appraisals from comparable propertiesMarketability adjustments for specific properties0% - 25% of appraisal

Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

NM – not meaningful

  • The unobservable inputs for principal-only and interest-only trading securities, MSR and subordinated bonds are discussed in the Mortgage servicing rights and other retained interests paragraph.
  • Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral. Write-downs on these loans are recognized as part of provision.
  • 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.
  • 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.
December 31, 2014
(Dollars in thousands)Fair value carrying amountAggregate unpaid principalFair value carrying amount less aggregate unpaid principal
Residential real estate loans held-for-sale reported at fair value:    
Total loans$27,910  $43,822  $(15,912)
Nonaccrual loans7,430  14,316  (6,886)
Loans 90 days or more past due and still accruing2,587  4,000  (1,413)
December 31, 2013
(Dollars in thousands)Fair value carrying amountAggregate unpaid principalFair value carrying amount less aggregate unpaid principal
Residential real estate loans held-for-sale reported at fair value:    
Total loans$230,456  $378,326  $(147,870)
Nonaccrual loans64,231  137,301  (73,070)
Loans 90 days or more past due and still accruing7,765  15,854  (8,089)
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:
Twelve Months Ended
December 31
(Dollars in thousands)201420132012
Changes in fair value included in net income:
Mortgage banking noninterest income
Loans held-for-sale$52,494$(4,387)$(2,618)
Other short-term borrowings-(3)3,677
Summary Of Book Value And Estimated Fair Value Of Financial Instruments

The following tables summarize the book value and estimated fair value of financial instruments recorded in the Consolidated Statements of Condition as well as unfunded commitments as of December 31, 2014 and 2013.

  December 31, 2014
BookFair Value
(Dollars in thousands)  Value  Level 1  Level 2  Level 3  Total
Assets:          
Loans, net of unearned income and allowance for loan losses          
Commercial:          
Commercial, financial and industrial  $8,940,275  $-  $-  $8,902,045  $8,902,045  
Commercial real estate  1,259,143  -  -  1,243,404  1,243,404
Retail:          
Consumer real estate 4,935,060  -  -  4,747,761  4,747,761  
Permanent mortgage 519,839  -  -  483,179  483,179  
Credit card & other  343,401  -  -  345,198  345,198  
Total loans, net of unearned income and allowance for loan losses  15,997,718  -  -  15,721,587  15,721,587  
Short-term financial assets          
Interest-bearing cash  1,621,967  1,621,967  -  -  1,621,967  
Federal funds sold  63,080  -  63,080  -  63,080  
Securities purchased under agreements to resell  659,154  -  659,154  -  659,154  
Total short-term financial assets2,344,2011,621,967722,234-2,344,201
Trading securities (a)1,194,391  -  1,188,749  5,642  1,194,391  
Loans held-for-sale (a)141,285  -  3,322  137,963  141,285  
Securities available-for-sale (a) (b)3,556,613  26,264  3,371,236  159,113  3,556,613  
Securities held-to-maturity4,292  -  -  5,404  5,404  
Derivative assets (a)134,088  2,345  131,743  -  134,088
  
Other assets  
Tax credit investments  82,907--65,31465,314  
Deferred compensation assets25,66525,665--25,665
Total other assets  108,572  25,665  -  65,314  90,979
Nonearning assets    
Cash & due from banks  349,171  349,171  -  -  349,171  
Capital markets receivables  42,488  -  42,488  -  42,488  
Accrued interest receivable  67,301  -  67,301  -  67,301  
Total nonearning assets  458,960  349,171  109,789  -  458,960
Total assets  $23,940,120  $2,025,412  $5,527,073  $16,095,023  $23,647,508
          
Liabilities:    
Deposits:    
Defined maturity$1,276,938  $-  $1,282,833  $-  $1,282,833  
Undefined maturity16,792,001-16,792,001-16,792,001
Total deposits18,068,939  -18,074,834-18,074,834  
Trading liabilities (a)594,314  -  594,315  -  594,315
Short-term financial liabilities    
Federal funds purchased1,037,052-1,037,052-1,037,052
Securities sold under agreements to repurchase  562,214  -  562,214  -  562,214  
Other short-term borrowings157,218-157,218-157,218
Total short-term financial liabilities  1,756,484  -  1,756,484  -  1,756,484
Term borrowings    
Real estate investment trust-preferred  45,896  -  -  49,350  49,350  
Term borrowings - new market tax credit investment  18,000  -  -  18,049  18,049  
Borrowings secured by residential real estate65,612--56,62356,623
Other long term borrowings1,750,597-1,730,061-1,730,061
Total term borrowings1,880,105  -  1,730,061  124,022  1,854,083  
Derivative liabilities (a)119,239  2,035  111,964  5,240  119,239
  
Other noninterest-bearing liabilities    
Capital markets payables  18,157  -  18,157  -  18,157  
Accrued interest payable  23,995  -  23,995  -  23,995  
Total other noninterest-bearing liabilities42,152  -  42,152  -42,152
Total liabilities$22,461,233  $2,035  $22,309,810  $129,262$22,441,107

Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

  • Classes are detailed in the recurring and nonrecurring measurement tables.
  • Level 3 includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0 million.

  December 31, 2013
BookFair Value
(Dollars in thousands)  Value  Level 1  Level 2  Level 3  Total
Assets:          
Loans, net of unearned income and allowance for loan losses          
Commercial:          
Commercial, financial and industrial$7,837,130  $-  $-  $7,759,902  $7,759,902  
Commercial real estate  1,122,676  -  -  1,075,385  1,075,385
Retail:          
Consumer real estate5,206,586  -  -  4,858,031  4,858,031  
Permanent mortgage639,751  -  -  606,038  606,038  
Credit card & other  329,122  -  -  331,088  331,088  
Total loans, net of unearned income and allowance for loan losses15,135,265  -  -  14,630,444  14,630,444  
Short-term financial assets          
Interest-bearing cash  730,297  730,297  -  -  730,297  
Federal funds sold66,079-66,079-66,079
Securities purchased under agreements to resell  412,614  -  412,614  -  412,614  
Total short-term financial assets  1,208,990  730,297  478,693  -  1,208,990  
Trading securities (a)801,718  -  794,518  7,200  801,718  
Loans held-for-sale (a)370,152  -  6,185  363,967  370,152  
Securities available-for-sale (a) (b)3,398,457  23,259  3,168,277  206,921  3,398,457  
Derivative assets (a)181,866  3,020  178,846  -  181,866  
Other assets          
Tax credit investments  88,612  -  -  75,926  75,926  
Deferred compensation assets  23,880  23,880  -  -  23,880  
Total other assets  112,492  23,880  -  75,926  99,806  
Nonearning assets          
Cash & due from banks  349,216  349,216  -  -  349,216  
Capital markets receivables  45,255  -  45,255  -  45,255  
Accrued interest receivable  69,208  -  69,208  -  69,208  
Total nonearning assets  463,679  349,216  114,463  -  463,679  
Total assets$21,672,619  $1,129,672  $4,740,982  $15,284,458  $21,155,112  
          
Liabilities:          
Deposits:          
Defined maturity  $1,505,712  $-  $1,520,950  $-  $1,520,950  
Undefined maturity  15,229,244  -  15,229,244  -  15,229,244  
Total deposits  16,734,956  -  16,750,194  -  16,750,194  
Trading liabilities (a)368,348  -  368,348  -  368,348  
Short-term financial liabilities          
Federal funds purchased1,042,633-1,042,633-1,042,633
Securities sold under agreements to repurchase  442,789  -  442,789  -  442,789  
Other short-term borrowings  181,146  -  181,146  -  181,146  
Total short-term financial liabilities  1,666,568  -  1,666,568  -  1,666,568  
Term borrowings          
Real estate investment trust-preferred  45,828  -  -  47,000  47,000  
Term borrowings - new market tax credit investment  18,000  -  -  17,685  17,685  
Borrowings secured by residential real estate  310,833  -  -  268,249  268,249  
Other long term borrowings  1,365,198  -  1,372,646  -  1,372,646  
Total term borrowings1,739,859-1,372,646332,9341,705,580
Derivative liabilities (a)154,280  4,343  147,022  2,915  154,280  
Other noninterest-bearing liabilities          
Capital markets payables  21,173  -  21,173  -  21,173  
Accrued interest payable  23,813  -  23,813  -  23,813  
Total other noninterest-bearing liabilities  44,986  -  44,986  -  44,986  
Total liabilities  $20,708,997  $4,343  $20,349,764  $335,849  $20,689,956  
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

  • Classes are detailed in the recurring and nonrecurring measurement tables.
  • Level 3 includes restricted investments in FHLB-Cincinnati stock of $128.0 million and FRB stock of $66.0 million.

Contractual AmountFair Value
(Dollars in thousands)December 31, 2014December 31, 2013December 31, 2014December 31, 2013
Unfunded Commitments:  
Loan commitments$7,309,137  $7,469,553$2,358  $1,923
Standby and other commitments331,877  318,1494,451  4,653
Certain previously reported amounts have been reclassified to agree with current presentation.