Investment Securities (Tables)

6 Months Ended

Jun. 30, 2015

Investment Securities [Abstract]

Schedule Of FHN's Investment Securities

The following tables summarize FHN’s investment securities on June 30, 2015 and 2014:
	June 30, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Securities available-for-sale ("AFS"):
U.S. treasuries	$	100	$	-	$	-	$	100
Government agency issued mortgage-backed securities ("MBS")		804,841		29,068		(3,269)		830,640
Government agency issued collateralized mortgage obligations ("CMO")		2,624,151		20,836		(19,701)		2,625,286
Other U.S. government agencies		1,539		21		-		1,560
States and municipalities		9,455		-		-		9,455
Equity and other (a)		182,059		-		(240)		181,819
Total securities available-for-sale (b)	$	3,622,145	$	49,925	$	(23,210)	$	3,648,860
Securities held-to-maturity ("HTM"):
States and municipalities	$	4,306	$	1,050	$	-	$	5,356
Total securities held-to-maturity	$	4,306	$	1,050	$	-	$	5,356

• Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $65.8 million. The remainder is money market and cost method investments.
• Includes $3.2 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.

	June 30, 2014
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Securities available-for-sale:
U.S. treasuries	$	39,995	$	4	$	-	$	39,999
Government agency issued MBS		724,785		39,679		(1,622)		762,842
Government agency issued CMO		2,582,242		21,211		(34,065)		2,569,388
Other U.S. government agencies		1,973		88		-		2,061
States and municipalities		15,155		-		-		15,155
Equity and other (a)		187,106		17		(26)		187,097
Total securities available-for-sale (b)	$	3,551,256	$	60,999	$	(35,713)	$	3,576,542
Securities held-to-maturity:
States and municipalities	$	4,279	$	1,277	$	-	$	5,556
Total securities held-to-maturity	$	4,279	$	1,277	$	-	$	5,556

• Includes restricted investments in FHLB-Cincinnati stock of $87.9 million and FRB stock of $66.0million. The remainder is money market, venture capital, and cost method investments.
• Includes $3.4 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 securities portfolios on June 30, 2015, are provided below:
		Held-to-Maturity				Available-for-Sale
		Amortized		Fair		Amortized		Fair
(Dollars in thousands)		Cost		Value		Cost		Value
Within 1 year		$	-	$	-	$	1,539	$	1,560
After 1 year; within 5 years			-		-		1,600		1,600
After 5 years; within 10 years			-		-		-		-
After 10 years			4,306		5,356		7,955		7,955
	Subtotal		4,306		5,356		11,094		11,115
Government agency issued MBS and CMO (a)			-		-		3,428,992		3,455,926
Equity and other			-		-		182,059		181,819
Total		$	4,306	$	5,356	$	3,622,145	$	3,648,860

• 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 investment securities for the three and six months ended June 30:
	Three Months Ended				Six Months Ended
		June 30				June 30
(Dollars in thousands)	2015		2014		2015		2014
Gross gains on sales of securities	$	8	$	77	$	284	$	5,734
Gross losses on sales of securities		-		-		-		-
Net gain/(loss) on sales of securities (a)		8		77		284		5,734
Venture capital investments (b)		-		(2,000)		-		(2,000)
Total securities gain/(loss), net	$	8	$	(1,923)	$	284	$	3,734

• Proceeds from sales for the three months ended June 30, 2015 and 2014 were not material. Proceeds for the six months ended June 30, 2015 were $.3 million. Proceeds for the six months ended June 30, 2014 were $5.7 million, inclusive of $1.4 million of equity securities.
• Includes write-offs and/or unrealized fair value adjustments related to venture capital investments.

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 June 30, 2015 and 2014:
	As of June 30, 2015
	Less than 12 months				12 months or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Government agency issued CMO	$	845,534	$	(7,734)	$	450,079	$	(11,967)	$	1,295,613	$	(19,701)
Government agency issued MBS		233,521		(2,485)		33,582		(784)		267,103		(3,269)
Total debt securities		1,079,055		(10,219)		483,661		(12,751)		1,562,716		(22,970)
Equity		-		-		851		(240)		851		(240)
Total temporarily impaired securities	$	1,079,055	$	(10,219)	$	484,512	$	(12,991)	$	1,563,567	$	(23,210)

	As of June 30, 2014
	Less than 12 months				12 months or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Government agency issued CMO	$	437,212	$	(2,276)	$	1,004,964	$	(31,789)	$	1,442,176	$	(34,065)
Government agency issued MBS		34,041		(83)		108,491		(1,539)		142,532		(1,622)
Total debt securities		471,253		(2,359)		1,113,455		(33,328)		1,584,708		(35,687)
Equity		43		(26)		-		-		43		(26)
Total temporarily impaired securities	$	471,296	$	(2,385)	$	1,113,455	$	(33,328)	$	1,584,751	$	(35,713)