XML 37 R42.htm IDEA: XBRL DOCUMENT

Derivatives (Tables)

9 Months Ended

Sep. 30, 2014

Derivatives [Abstract]

Derivatives Associated With Capital Markets Trading Activities

The following tables summarize FHN’s derivatives associated with capital markets trading activities as of September 30, 2014 and 2013:

	September 30, 2014
(Dollars in thousands)	Notional			Assets				Liabilities
Customer Interest Rate Contracts	$	1,731,047			$	69,878			$	5,778
Offsetting Upstream Interest Rate Contracts		1,731,047				5,778				69,878
Option Contracts Purchased		10,000				27				-
Option Contracts Written		7,500				-				6
Forwards and Futures Purchased		1,866,521				2,047				614
Forwards and Futures Sold		2,311,144				1,134				2,281

	September 30, 2013
(Dollars in thousands)	Notional			Assets				Liabilities
Customer Interest Rate Contracts	$	1,742,060			$	88,154			$	6,880
Offsetting Upstream Interest Rate Contracts		1,742,060				6,880				88,154
Forwards and Futures Purchased		1,664,813				208				9,296
Forwards and Futures Sold		2,038,677				16,669				474

Derivatives Associated With Interest Rate Risk Management Activities

The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of and for the three and nine months ended September 30, 2014 and 2013:
													Gains/(Losses)
													Three Months Ended					Nine Months Ended
(Dollars in thousands)		Notional			Assets				Liabilities				September 30, 2014					September 30, 2014
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items:
	Customer Interest Rate Contracts (a)	$	742,065			$	25,039		$	1,128				$	(3,235)				$	(1,166)
	Offsetting Upstream Interest Rate Contracts (a)		742,065				1,128			25,539					3,235					1,166
Debt Hedging
Hedging Instruments:
	Interest Rate Swaps (b)	$	1,254,000			$	32,711		$	9,787				$	(7,074)				$	(10,313)
Hedged Items:
	Term Borrowings (b)		N/A				N/A		$	1,254,000	(c)			$	7,074	(d)			$	10,313	(d)

													Gains/(Losses)
													Three Months Ended					Nine Months Ended
(Dollars in thousands)		Notional			Assets				Liabilities				September 30, 2013					September 30, 2013
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items:
	Customer Interest Rate Contracts (a)	$	801,260			$	34,703		$	2,452				$	(1,464)				$	(22,673)
	Offsetting Upstream Interest Rate Contracts (a)		817,901				2,453			35,203					1,465					23,374
Debt Hedging
Hedging Instruments:
	Interest Rate Swaps (b)	$	1,254,000			$	66,049		$	19,622				$	(6,430)				$	(48,777)
Hedged Items:
	Term Borrowings (b)		N/A				N/A		$	1,254,000	(c)			$	6,430	(d)			$	48,777	(d)

Gains/losses included in the Other expense section of the Consolidated Condensed Statements of Income.
Gains/losses included in the All other income and commissions section of the Consolidated Condensed Statements of Income.
Represents par value of term borrowings being hedged.
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.

Schedule Of Derivative Activities Associated With Trust Preferred Loans

The following tables summarize FHN’s derivative activities associated with held-to-maturity trust preferred loans as of and for the three and nine months ended September 30, 2014 and 2013:
															Gains/(Losses)
															Three Months Ended					Nine Months Ended
(Dollars in thousands)		Notional				Assets					Liabilities				September 30, 2014					September 30, 2014
Loan Portfolio Hedging
Hedging Instruments:
	Interest Rate Swaps		$	6,500				N/A				$	791			$	110				$	215
Hedged Items:
	Trust Preferred Loans (a)			N/A			$	6,500	(b)				N/A			$	(109)	(c)			$	(213)	(c)

															Gains/(Losses)
															Three Months Ended					Nine Months Ended
(Dollars in thousands)		Notional				Assets					Liabilities				September 30, 2013					September 30, 2013
Loan Portfolio Hedging
Hedging Instruments:
	Interest Rate Swaps		$	6,500				N/A				$	1,091			$	27				$	951
Hedged Items:
	Trust Preferred Loans (a)			N/A			$	6,500	(b)				N/A			$	(25)	(c)			$	(946)	(c)

Assets included in the Loans, net of unearned income section of the Consolidated Condensed Statements of Condition.
Represents principal balance being hedged.
Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.

Derivatives Associated With Legacy Mortgage Servicing Activities

The following table summarizes FHN's derivatives associated with legacy mortgage servicing activities as of and for the three and nine months ended September 30, 2013:
													Gains/(Losses)
													Three Months Ended				Nine Months Ended
(Dollars in thousands)		Notional			Assets				Liabilities				September 30, 2013				September 30, 2013
Retained Interests Hedging
Hedging Instruments:
	Forwards and Futures	$	-			$	-			$	-			$	159			$	(3,047)
	Interest Rate Swaps and Swaptions		-				-				-				1,305				(4,275)
Hedged Items:
	Mortgage Servicing Rights		N/A			$	114,318				N/A			$	9,844			$	20,174
	Other Retained Interests		N/A				15,714				N/A				1,628				3,422

Derivative Assets And Collateral Received


The following table provides a detail of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of September 30:

											Gross amounts not offset in the
											Statement of Condition
				Gross amounts			Net amounts of			Derivative
	Gross amounts			offset in the			assets presented			liabilities
	of recognized			Statement of			in the Statement			available for			Collateral
(Dollars in thousands)	assets			Condition			of Condition (a)			offset			Received			Net amount
Derivative assets:
2014 (b)	$	134,534		$	-		$	134,534		$	(24,210)		$	(110,262)		$	62
2013 (b)		198,238			-			198,238			(36,770)			(161,468)			-

Included in Derivative Assets on the Consolidated Condensed Statements of Condition. As of September 30, 2014 and 2013, $3.2 million and $16.9 million, respectively, of derivative assets (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
2014 and 2013 are comprised entirely of interest rate derivative contracts.

Derivative Liabilities and Collateral Pledged


The following table provides a detail of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of September 30:

											Gross amounts not offset in the
											Statement of Condition
				Gross amounts			Net amounts of
	Gross amounts			offset in the		liabilities presented				Derivative
	of recognized			Statement of			in the Statement			assets available			Collateral
(Dollars in thousands)	liabilities			Condition			of Condition (a)			for offset			pledged			Net amount
Derivative liabilities:
2014 (b)	$	112,901		$	-		$	112,901		$	(24,210)		$	(77,755)		$	10,936
2013 (b)		153,403			-			153,403			(36,770)			(109,079)			7,554

Included in Derivative Liabilities on the Consolidated Condensed Statements of Condition. As of September 30, 2014 and 2013, $10.5 million and $12.5 million, respectively, of derivative liabilities (primarily capital markets forward contracts) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
2014 and 2013 are comprised entirely of interest rate derivative contracts.