Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Financial Information

The following tables present financial information for each reportable business segment for the three months ended March 31, 2025 and 2024.

SEGMENT FINANCIAL INFORMATION
	Three Months Ended March 31, 2025
(Dollars in millions)	Commercial, Consumer & Wealth		Wholesale		Corporate		Consolidated
Interest income	$	814	$	124	$	76	$	1,014
Interest expense	291		28		64		383
Funds transfer pricing	101		(46)		(55)		—
Net interest income (expense)	624		50		(43)		631
Noninterest income	110		59		12		181
Total revenues	734		109		(31)		812
Noninterest expense (a)	343		77		67		487
Pre-provision net revenue (b)	391		32		(98)		325
Provision for credit losses	38		3		(1)		40
Income (loss) before income taxes	353		29		(97)		285
Income tax expense (benefit)	84		7		(28)		63
Net income (loss)	$	269	$	22	$	(69)	$	222
Average assets	$	58,717	$	8,495	$	13,753	$	80,965
Depreciation and amortization	9		2		10		21
Expenditures for long-lived assets	5		1		3		9
	Three Months Ended March 31, 2024
(Dollars in millions)	Commercial, Consumer & Wealth		Wholesale		Corporate		Consolidated
Interest income	$	882	$	115	$	76	$	1,073
Interest expense	351		31		66		448
Funds transfer pricing	94		(42)		(52)		—
Net interest income (expense)	625		42		(42)		625
Noninterest income	110		62		22		194
Total revenues	735		104		(20)		819
Noninterest expense (a)	347		75		93		515
Pre-provision net revenue (b)	388		29		(113)		304
Provision for credit losses	44		7		(1)		50
Income (loss) before income taxes	344		22		(112)		254
Income tax expense (benefit)	81		5		(29)		57
Net income (loss)	$	263	$	17	$	(83)	$	197
Average assets	$	59,348	$	7,146	$	14,749	$	81,243
Depreciation and amortization	9		2		15		26
Expenditures for long-lived assets	4		—		5		9

(a)2025 includes an FDIC special assessment of $1 million and $5 million in derivative valuation adjustments related to prior Visa Class B share sales in the Corporate segment. 2024 includes $5 million of restructuring costs and an FDIC special assessment of $10 million in the Corporate segment.

(b)Pre-provision net revenue is a non-GAAP measure and is reconciled to income (loss) before income taxes (GAAP) in this table.

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, 2025 and 2024.

NONINTEREST INCOME DETAIL BY SEGMENT
	Three Months Ended March 31, 2025
(Dollars in millions)	Commercial, Consumer & Wealth		Wholesale		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	49	$	—	$	49
Deposit transactions and cash management	37		1		2		40
Brokerage, management fees and commissions	26		—		—		26
Card and digital banking fees	16		—		2		18
Other service charges and fees	12		—		—		12
Trust services and investment management	12		—		—		12
Mortgage banking income	—		8		—		8
Other income (b)	7		1		8		16
Total noninterest income	$	110	$	59	$	12	$	181

	Three Months Ended March 31, 2024
(Dollars in millions)	Commercial, Consumer & Wealth		Wholesale		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	52	$	—	$	52
Deposit transactions and cash management	41		1		2		44
Brokerage, management fees and commissions	24		—		—		24
Card and digital banking fees	17		—		2		19
Other service charges and fees	12		—		1		13
Trust services and investment management	11		—		—		11
Mortgage banking income	—		9		—		9
Other income (b)	5		—		17		22
Total noninterest income	$	110	$	62	$	22	$	194

(a)2025 and 2024 include $9 million and $10 million, respectively, 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.

The following tables present a disaggregation of FHN's noninterest expense by major product line and reportable segment for the three months ended March 31, 2025 and 2024.

NONINTEREST EXPENSE DETAIL BY SEGMENT
	Three Months Ended March 31, 2025
(Dollars in millions)	Commercial, Consumer & Wealth		Wholesale		Corporate		Consolidated
Noninterest expense:
Personnel expense	$	135	$	51	$	93	$	279
Net occupancy expense	21		2		12		35
Computer software	7		2		23		32
Operations services	4		6		13		23
Legal and professional fees	3		1		10		14
Deposit insurance expense	—		—		13		13
Advertising and public relations	1		—		9		10
Amortization of intangible assets	9		—		1		10
Equipment expense	2		—		8		10
Contract employment and outsourcing	1		1		6		8
Communications and delivery	2		1		5		8
Other expense	17		5		23		45
Cost allocations	141		8		(149)		—
Total noninterest expense	$	343	$	77	$	67	$	487

	Three Months Ended March 31, 2024
(Dollars in millions)	Commercial, Consumer & Wealth		Wholesale		Corporate		Consolidated
Noninterest expense:
Personnel expense	$	139	$	51	$	111	$	301
Net occupancy expense	19		2		10		31
Computer software	8		1		21		30
Operations services	4		6		11		21
Legal and professional fees	2		—		12		14
Deposit insurance expense	—		—		24		24
Advertising and public relations	2		—		6		8
Amortization of intangible assets	10		—		1		11
Equipment expense	3		—		8		11
Contract employment and outsourcing	1		1		11		13
Communications and delivery	2		1		5		8
Other expense	21		5		17		43
Cost allocations	136		8		(144)		—
Total noninterest expense	$	347	$	75	$	93	$	515