Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting, Measurement Disclosures [Abstract]

Schedule of Segment Financial Information

The following tables present financial information for each reportable business segment for the three months ended March 31, 2022 and 2021:

SEGMENT FINANCIAL INFORMATION
	Three Months Ended March 31, 2022
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	425	$	141	$	(87)	$	479
Provision for credit losses	(30)		(3)		(7)		(40)
Noninterest income	114		105		10		229
Noninterest expense (a)	310		136		47		493
Income (loss) before income taxes	259		113		(117)		255
Income tax expense (benefit)	61		27		(31)		57
Net income (loss)	$	198	$	86	$	(86)	$	198
Average assets	$	40,453	$	20,228	$	27,906	$	88,587
	Three Months Ended March 31, 2021
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	430	$	158	$	(80)	$	508
Provision for credit losses	(29)		(6)		(10)		(45)
Noninterest income	100		185		13		298
Noninterest expense (a)	270		154		120		544
Income (loss) before income taxes	289		195		(177)		307
Income tax expense (benefit)	67		47		(43)		71
Net income (loss)	$	222	$	148	$	(134)	$	236
Average assets	$	42,379	$	21,556	$	21,466	$	85,401

(a)2022 and 2021 includes $37 million and $70 million, respectively, in merger and integration expenses related to the IBKC and proposed TD merger in the Corporate segment.

The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended March 31, 2022 and 2021:

NONINTEREST INCOME DETAIL BY SEGMENT
	Three months ended March 31, 2022
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	73	$	—	$	73
Deposit transactions and cash management	39		3		2		44
Brokerage, management fees and commissions	24		—		—		24
Mortgage banking and title income	—		22		—		22
Card and digital banking fees	17		1		2		20
Trust services and investment management	13		—		—		13
Other service charges and fees	8		5		—		13
Securities gains (losses), net (b)	—		—		6		6
Other income (c)	13		1		—		14
Total noninterest income	$	114	$	105	$	10	$	229

	Three months ended March 31, 2021
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	1	$	125	$	—	$	126
Mortgage banking and title income	—		52		1		53
Deposit transactions and cash management	38		3		1		42
Brokerage, management fees and commissions	20		—		—		20
Card and digital banking fees	14		1		2		17
Trust services and investment management	12		—		—		12
Other service charges and fees	6		3		1		10
Other income (c)	9		1		8		18
Total noninterest income	$	100	$	185	$	13	$	298

(a)Includes $10 million for both periods of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers."

(b)Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total noninterest income.

(c)Includes letter of credit fees and insurance commissions in scope of ASC 606.