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Derivatives (Tables)

3 Months Ended

Mar. 31, 2015

Derivatives Associated With Capital Markets Trading Activities

The following tables summarize FHN’s derivatives associated with capital markets trading activities as of March 31, 2015 and 2014:

	March 31, 2015
(Dollars in thousands)	Notional		Assets			Liabilities
Customer Interest Rate Contracts	$	1,675,215		$	83,797		$	2,241
Offsetting Upstream Interest Rate Contracts		1,675,215			2,241			83,797
Option Contracts Purchased		12,500			60			-
Option Contracts Written		7,500			-			12
Forwards and Futures Purchased		3,181,574			5,805			538
Forwards and Futures Sold		3,511,607			1,105			7,290

	March 31, 2014
(Dollars in thousands)	Notional		Assets			Liabilities
Customer Interest Rate Contracts	$	1,775,287		$	76,173		$	7,103
Offsetting Upstream Interest Rate Contracts		1,775,287			7,103			76,173
Option Contracts Purchased		10,000			29			-
Forwards and Futures Purchased		2,234,232			1,738			1,260
Forwards and Futures Sold		2,607,585			2,277			1,478

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 months ended March 31, 2015 and 2014:
										Gains/(Losses)
										Three Months Ended
(Dollars in thousands)		Notional		Assets			Liabilities			March 31, 2015
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items:
	Customer Interest Rate Contracts (a)	$	682,318		$	30,204	$	307			$	4,243
	Offsetting Upstream Interest Rate Contracts (a)		682,318			307		30,704				(4,243)
Debt Hedging
Hedging Instruments:
	Interest Rate Swaps (b)	$	1,350,000		$	24,368	$	2,677			$	(18,865)
Hedged Items:
	Term Borrowings (b)		N/A			N/A	$	1,350,000	(c)		$	18,912	(d)

										Gains/(Losses)
										Three Months Ended
(Dollars in thousands)		Notional		Assets			Liabilities			March 31, 2014
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items:
	Customer Interest Rate Contracts (a)	$	742,710		$	26,742	$	2,310			$	(645)
	Offsetting Upstream Interest Rate Contracts (a)		758,882			2,310		27,242				645
Debt Hedging
Hedging Instruments:
	Interest Rate Swaps (b)	$	1,254,000		$	50,092	$	16,409			$	389
Hedged Items:
	Term Borrowings (b)		N/A			N/A	$	1,254,000	(c)		$	(389)	(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 months ended March 31, 2015 and 2014:

Gains/(Losses)

Three Months Ended

(Dollars in thousands)

Notional

Assets

Liabilities

March 31, 2015

Loan Portfolio Hedging

Hedging Instruments:

Interest Rate Swaps

6,500

N/A

703

Hedged Items:

Trust Preferred Loans (a)

N/A

6,500

(b)

N/A

(41)

(c)

Gains/(Losses)

Three Months Ended

(Dollars in thousands)

Notional

Assets

Liabilities

March 31, 2014

Loan Portfolio Hedging

Hedging Instruments:

Interest Rate Swaps

6,500

N/A

943

Hedged Items:

Trust Preferred Loans (a)

N/A

6,500

(b)

N/A

(63)

(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.

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 March 31:

								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:
2015 (b)	$	140,917	$	-	$	140,917	$	(14,053)	$	(126,820)	$	44
2014 (b)		162,420		-		162,420		(33,495)		(128,810)		115

Included in Derivative Assets on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $7.2 million and $4.0 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.
2015 and 2014 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 March 31:

									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:
2015 (b)	$	120,429	$	-		$	120,429	$	(14,053)	$	(82,440)	$	23,936
2014 (b)		130,180		-			130,180		(33,495)		(91,331)		5,354

Included in Derivative Liabilities on the Consolidated Condensed Statements of Condition. As of March 31, 2015 and 2014, $12.8 million and $7.7 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.
2015 and 2014 are comprised entirely of interest rate derivative contracts.