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Business Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
FHN's operating segments are composed of the following:
•Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial clients primarily in the southern U.S. and other selected markets. Regional Banking also provides investment, wealth management, financial planning, trust and asset management services for consumer clients.
•Specialty Banking segment consists of lines of business that deliver product offerings and services with specialized industry knowledge. Specialty Banking’s lines of business include asset-based lending, mortgage warehouse lending, commercial real estate, franchise finance, correspondent banking, equipment finance, mortgage, and title insurance. In addition to traditional lending and deposit taking, Specialty Banking also delivers treasury management solutions, loan syndications, and international banking. Additionally, Specialty Banking has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales.
•Corporate segment consists primarily of corporate support functions including risk management, audit, accounting, finance, executive office, and corporate
communications. Shared support services such as human resources, properties, technology, credit risk and bank operations are allocated to the activities of Regional Banking, Specialty Banking and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of wholesale funding, liquidity, and capital management and allocation. The Corporate segment also includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses.
Periodically, FHN adapts its segments to reflect managerial or strategic changes. FHN may also modify its methodology of allocating expenses and equity among segments which could change historical segment results. Business segment revenue, expense, asset, and equity levels reflect those which are specifically identifiable or which are allocated based on an internal allocation method. Because the allocations are based on internally developed assignments and allocations, to an extent they are subjective. Generally, all assignments and allocations have been consistently applied for all periods presented.
The following tables present financial information for each reportable business segment for the three and nine months ended September 30, 2022 and 2021:

SEGMENT FINANCIAL INFORMATION
Three Months Ended September 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$517 $138 $7 $662 
Provision for credit losses43 17 — 60 
Noninterest income (a)110 64 39 213 
Noninterest expense (b)304 104 61 469 
Income (loss) before income taxes280 81 (15)346 
Income tax expense (benefit)65 20 (7)78 
Net income (loss)$215 $61 $(8)$268 
Average assets$42,815 $19,749 $19,986 $82,550 

Three Months Ended September 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$444 $154 $(106)$492 
Provision for credit losses(52)(33)— (85)
Noninterest income113 142 (8)247 
Noninterest expense (b)292 139 95 526 
Income (loss) before income taxes317 190 (209)298 
Income tax expense (benefit)74 46 (57)63 
Net income (loss)$243 $144 $(152)$235 
Average assets$40,908 $20,505 $26,988 $88,401 
(a)     2022 includes a $21 million gain related to the sale of the title insurance business in the Corporate segment.
(b)     2022 and 2021 includes $24 million and $46 million, respectively, in merger and integration expenses related to the IBKC merger and Pending TD Merger in the Corporate segment.

Nine Months Ended September 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$1,410 $424 $(151)$1,683 
Provision for credit losses64 (4)(10)50 
Noninterest income (a)337 265 40 642 
Noninterest expense (b)911 349 190 1,450 
Income (loss) before income taxes772 344 (291)825 
Income tax expense (benefit)181 84 (82)183 
Net income (loss)$591 $260 $(209)$642 
Average assets$41,779 $20,071 $23,949 $85,799 

Nine Months Ended September 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$1,319 $466 $(289)$1,496 
Provision for credit losses(169)(60)(16)(245)
Noninterest income323 477 29 829 
Noninterest expense (b)837 441 289 1,567 
Income (loss) before income taxes974 562 (533)1,003 
Income tax expense (benefit)228 136 (142)222 
Net income (loss)$746 $426 $(391)$781 
Average assets$41,931 $20,717 $24,483 $87,131 
(a)     2022 includes a $21 million gain related to the sale of the title insurance business in the Corporate segment.
(b)     2022 and 2021 includes $99 million and $148 million, respectively, in merger and integration expenses related to the IBKC merger and Pending 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 and nine months ended September 30, 2022 and 2021:

NONINTEREST INCOME DETAIL BY SEGMENT
Three months ended September 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$— $46 $— $46 
Deposit transactions and cash management39 2 2 43 
Brokerage, management fees and commissions23 — — 23 
Mortgage banking and title income— 9 — 9 
Card and digital banking fees19 — 2 21 
Other service charges and fees8 5 — 13 
Trust services and investment management11 — — 11 
Securities gains (losses), net (b)— — 12 12 
Deferred compensation income— — (3)(3)
Other income (c)10 2 26 38 
Total noninterest income$110 $64 $39 $213 
Three months ended September 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$— $96 $— $96 
Deposit transactions and cash management40 3 1 44 
Brokerage, management fees and commissions24 — — 24 
Mortgage banking and title income— 34 — 34 
Card and digital banking fees18 1 2 21 
Other service charges and fees6 5 1 12 
Trust services and investment management13 — — 13 
Securities gains (losses), net (b)— — 1 1 
Deferred compensation income — — 3 3 
Loss on debt extinguishment— — (23)(23)
Other income (c)12 3 7 22 
Total noninterest income$113 $142 $(8)$247 
(a)2022 and 2021 includes $13 million and $12 million, respectively, 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.

Nine Months Ended September 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$— $170 $— $170 
Deposit transactions and cash management115 7 7 129 
Brokerage, management fees and commissions71 — — 71 
Mortgage banking and title income— 65 — 65 
Card and digital banking fees57 2 5 64 
Other service charges and fees24 17 — 41 
Trust services and investment management36 — — 36 
Securities gains (losses), net (b)— — 18 18 
Deferred compensation income— — (24)(24)
Other income (c)34 4 34 72 
Total noninterest income$337 $265 $40 $642 
Nine Months Ended September 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$1 $323 $— $324 
Deposit transactions and cash management117 8 5 130 
Brokerage, management fees and commissions65 — — 65 
Mortgage banking and title income— 124 2 126 
Card and digital banking fees51 2 6 59 
Other service charges and fees18 12 2 32 
Trust services and investment management39 — — 39 
Securities gains (losses), net (b)— — 12 12 
Deferred compensation income— — 12 12 
Loss on debt extinguishment — — (23)(23)
Other income (c)32 8 13 53 
Total noninterest income$323 $477 $29 $829 

(a)2022 and 2021 includes $33 million and $35 million for 2022 and 2021, respectively, 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.