Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Segment Financial Information

The following tables present financial information for each reportable business segment for the three months ended March 31, 2024 and 2023:


SEGMENT FINANCIAL INFORMATION
	Three Months Ended March 31, 2024
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	532	$	153	$	(60)	$	625
Provision for credit losses	28		23		(1)		50
Noninterest income	105		72		17		194
Noninterest expense (a)	324		104		87		515
Income (loss) before income taxes	285		98		(129)		254
Income tax expense (benefit)	67		24		(34)		57
Net income (loss)	$	218	$	74	$	(95)	$	197
Average assets	$	43,131	$	23,712	$	14,400	$	81,243


	Three Months Ended March 31, 2023
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	561	$	151	$	(24)	$	688
Provision for credit losses	37		14		(1)		50
Noninterest income	104		56		11		171
Noninterest expense (a)	313		100		65		478
Income (loss) before income taxes	315		93		(77)		331
Income tax expense (benefit)	74		23		(21)		76
Net income (loss)	$	241	$	70	$	(56)	$	255
Average assets	$	41,292	$	22,623	$	14,926	$	78,841

(a)2024 includes $5 million of restructuring costs and an FDIC special assessment of $10 million in the Corporate segment. 2023 includes $21 million in merger and integration expenses related to the TD Transaction 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, 2024 and 2023:


NONINTEREST INCOME DETAIL BY SEGMENT
	Three months ended March 31, 2024
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	52	$	—	$	52
Deposit transactions and cash management	39		3		2		44
Brokerage, management fees and commissions	24		—		—		24
Card and digital banking fees	16		1		2		19
Other service charges and fees	6		7		—		13
Trust services and investment management	11		—		—		11
Mortgage banking income	—		9		—		9



Other income (b)	9		—		13		22
Total noninterest income	$	105	$	72	$	17	$	194


	Three months ended March 31, 2023
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	39	$	—	$	39
Deposit transactions and cash management	37		3		2		42
Brokerage, management fees and commissions	22		—		—		22
Card and digital banking fees	17		1		2		20
Other service charges and fees	6		7		—		13
Trust services and investment management	11		—		—		11
Mortgage banking income	—		5		—		5



Other income (b)	11		1		7		19
Total noninterest income	$	104	$	56	$	11	$	171

(a)2024 and 2023 include $10 million of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers."

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