Investment Securities (Tables)

3 Months Ended

Mar. 31, 2025

The following tables summarize FHN’s investment securities as of March 31, 2025 and December 31, 2024:


INVESTMENT SECURITIES AT MARCH 31, 2025
	March 31, 2025
(Dollars in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:

Government agency issued MBS	$	4,183	$	3	$	(436)	$	3,750
Government agency issued CMO	3,192		1		(280)		2,913
Other U.S. government agencies	1,200		2		(129)		1,073

States and municipalities	381		—		(42)		339
Total securities available for sale (a)	$	8,956	$	6	$	(887)	$	8,075

Securities held to maturity:
Government agency issued MBS	$	793	$	—	$	(95)	$	698
Government agency issued CMO	465		—		(71)		394
Total securities held to maturity (a)	$	1,258	$	—	$	(166)	$	1,092

(a)Includes $7.0 billion of securities available for sale and $1.2 billion of securities held to maturity pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.


INVESTMENT SECURITIES AT DECEMBER 31, 2024
	December 31, 2024
(Dollars in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:

Government agency issued MBS	$	4,223	$	1	$	(522)	$	3,702
Government agency issued CMO	3,079		—		(312)		2,767
Other U.S. government agencies	1,234		—		(161)		1,073

States and municipalities	394		—		(40)		354
Total securities available for sale (a)	$	8,930	$	1	$	(1,035)	$	7,896

Securities held to maturity:
Government agency issued MBS	$	804	$	—	$	(109)	$	695
Government agency issued CMO	466		—		(78)		388
Total securities held to maturity (a)	$	1,270	$	—	$	(187)	$	1,083

(a)Includes $6.9 billion of securities available for sale and $1.3 billion of securities held to maturity 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 debt securities portfolio as of March 31, 2025 is provided below:


DEBT SECURITIES PORTFOLIO MATURITIES
	Held to Maturity				Available for Sale
(Dollars in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within 1 year	$	—	$	—	$	11	$	11
After 1 year through 5 years	—		—		98		92
After 5 years through 10 years	—		—		265		237
After 10 years	—		—		1,207		1,072
Subtotal	—		—		1,581		1,412
Government agency issued MBS and CMO (a)	1,258		1,092		7,375		6,663
Total	$	1,258	$	1,092	$	8,956	$	8,075

(a)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 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 March 31, 2025 and December 31, 2024:

AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES


	As of March 31, 2025
	Less than 12 months				12 months or longer				Total
(Dollars in millions)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

Government agency issued MBS	$	348	$	(1)	$	2,996	$	(435)	$	3,344	$	(436)
Government agency issued CMO	656		(1)		1,722		(279)		2,378		(280)
Other U.S. government agencies	71		—		859		(129)		930		(129)

States and municipalities	76		(1)		242		(41)		318		(42)
Total	$	1,151	$	(3)	$	5,819	$	(884)	$	6,970	$	(887)


	As of December 31, 2024
	Less than 12 months				12 months or longer				Total
(Dollars in millions)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

Government agency issued MBS	$	663	$	(9)	$	2,992	$	(513)	$	3,655	$	(522)
Government agency issued CMO	675		(2)		1,744		(310)		2,419		(312)
Other U.S. government agencies	210		(6)		863		(155)		1,073		(161)

States and municipalities	66		(1)		256		(39)		322		(40)
Total	$	1,614	$	(18)	$	5,855	$	(1,017)	$	7,469	$	(1,035)