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Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024.
BALANCES OF ASSETS & LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
 March 31, 2025
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $2 $— $2 
Government agency issued MBS— 92 — 92 
Government agency issued CMO— 145 — 145 
Other U.S. government agencies— 218 — 218 
States and municipalities— 67 — 67 
Corporate and other debt— 830 — 830 
SBA interest-only strips— — 22 22 
Total trading securities— 1,354 22 1,376 
Loans held for sale (elected fair value)— 101 13 114 
Securities available for sale:
Government agency issued MBS— 3,750 — 3,750 
Government agency issued CMO— 2,913 — 2,913 
Other U.S. government agencies— 1,073 — 1,073 
States and municipalities— 339 — 339 
Total securities available for sale— 8,075 — 8,075 
Other assets:
Deferred compensation mutual funds107 — — 107 
Equity, mutual funds, and other35 — — 35 
Derivatives, forwards and futures5 — — 5 
Derivatives, interest rate contracts— 423 — 423 
Derivatives, other— 1 — 1 
Total other assets147 424 — 571 
Total assets$147 $9,954 $35 $10,136 
Trading liabilities:
U.S. treasuries$— $548 $— $548 
Corporate and other debt— 122 — 122 
Total trading liabilities— 670 — 670 
Other liabilities:
Derivatives, forwards and futures4 — — 4 
Derivatives, interest rate contracts— 506 — 506 
Derivatives, other— 1 18 19 
Total other liabilities4 507 18 529 
Total liabilities$4 $1,177 $18 $1,199 
 December 31, 2024
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $3 $— $3 
Government agency issued MBS— 98 — 98 
Government agency issued CMO— 180 — 180 
Other U.S. government agencies— 252 — 252 
States and municipalities— 64 — 64 
Corporate and other debt— 767 — 767 
SBA interest-only strips— — 23 23 
Total trading securities— 1,364 23 1,387 
Loans held for sale (elected fair value)— 69 16 85 
Securities available for sale:
Government agency issued MBS— 3,702 — 3,702 
Government agency issued CMO— 2,767 — 2,767 
Other U.S. government agencies— 1,073 — 1,073 
States and municipalities— 354 — 354 
Total securities available for sale— 7,896 — 7,896 
Other assets:
Deferred compensation mutual funds111 — — 111 
Equity, mutual funds, and other35 — — 35 
Derivatives, forwards and futures8 — — 8 
Derivatives, interest rate contracts— 522 — 522 
Derivatives, other— 1 — 1 
Total other assets154 523 — 677 
Total assets$154 $9,852 $39 $10,045 
Trading liabilities:
U.S. treasuries$— $440 $— $440 
Other U.S. government agencies— 7 — 7 
Corporate and other debt— 103 — 103 
Total trading liabilities— 550 — 550 
Other liabilities:
Derivatives, forwards and futures6 — — 6 
Derivatives, interest rate contracts— 649 — 649 
Derivatives, other— 1 15 16 
Total other liabilities6 650 15 671 
Total liabilities$6 $1,200 $15 $1,221 
Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value
The changes in Level 3 assets and liabilities measured at fair value for the three months ended March 31, 2025 and 2024 on a recurring basis are summarized as follows.
CHANGES IN LEVEL 3 ASSETS & LIABILITIES MEASURED AT FAIR VALUE
 Three Months Ended March 31, 2025 
(Dollars in millions)
SBA interest-only strips
Loans held
for sale		Net 
derivative
liabilities
Balance on January 1, 2025$23 $16 $(15)
Total net gains (losses) included in net income(2)— (5)
Sales(3)(4)— 
Settlements— — 2 
Net transfers into (out of) Level 34 (b)1 — 
Balance on March 31, 2025$22 $13 $(18)
Net unrealized gains (losses) included in net income$(1)(c)$— (a)$(5)(d)
 Three Months Ended March 31, 2024 
(Dollars in millions)
SBA interest-only strips
Loans held
for sale		Net 
derivative
liabilities
Balance on January 1, 2024$13  $26 $(23)
Total net gains (losses) included in net income(1) — — 
Purchases— 1 — 
Sales(2)(13)— 
Settlements— — 3 
Net transfers into (out of) Level 39 (b)— — 
Balance on March 31, 2024$19  $14 $(20)
Net unrealized gains (losses) included in net income$(1)(c)$— (a)$— (d)
(a)Primarily included in mortgage banking income on the Consolidated Statements of Income.
(b)Transfers into Level 3 SBA interest-only strips reflect transfers out of SBA loans held for sale, which are Level 2 assets measured on a nonrecurring basis. Refer to the nonrecurring measurement table included in the following section of this Note.
(c)Primarily included in fixed income on the Consolidated Statements of Income.
(d)Included in other expense on the Consolidated Statements of Income.
Schedule of Nonrecurring Fair Value Measurements For assets
measured at fair value on a nonrecurring basis which were still held on the Consolidated Balance Sheets at March 31, 2025 and December 31, 2024, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.
LEVEL OF VALUATION ASSUMPTIONS FOR ASSETS
MEASURED AT FAIR VALUE ON A NONRECURRING BASIS
 Carrying value at March 31, 2025
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $371 $— $371 
Loans and leases (a)— — 345 345 
OREO (b)— — 3 3 
 Carrying value at December 31, 2024
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $438 $— $438 
Loans and leases (a)— — 344 344 
OREO (b)— — 3 3 
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government-insured mortgages.
Schedule of Gains/(losses) on Nonrecurring Fair Value Measurements
For assets measured on a nonrecurring basis which were still held on the Consolidated Balance Sheets at period end, the following table provides information about the fair value adjustments recorded during the three months ended March 31, 2025 and 2024.
FAIR VALUE ADJUSTMENTS ON ASSETS MEASURED ON A NONRECURRING BASIS
Net gains (losses)
Three Months Ended March 31,
(Dollars in millions)20252024
Loans held for sale—SBAs and USDA$(1)$— 
Loans and leases (a)(23)(31)
$(24)$(31)
(a)Write-downs on these loans are recognized as part of provision for credit losses.
Schedule of Unobservable Inputs Utilized in Determining the Fair Value of Level 3 Recurring and Non-Recurring Measurements
The following table provides information regarding the unobservable inputs utilized in determining the fair value of Level 3 recurring and nonrecurring measurements as of March 31, 2025 and December 31, 2024.
UNOBSERVABLE INPUTS USED IN LEVEL 3 FAIR VALUE MEASUREMENTS
(Dollars in millions)Values Utilized
Level 3 ClassFair Value at March 31, 2025Valuation TechniquesUnobservable InputRangeWeighted Average (c)
Trading securities - SBA interest-only strips$22 Discounted cash flowConstant prepayment rate
16% - 35%
18%
Bond equivalent yield
(4)% - 19%
17%
Loans held for sale - residential real estate$13 Discounted cash flowPrepayment speeds - First mortgage
2% - 6%
3%
Foreclosure losses
63% - 66%
64%
Loss severity trends - First mortgage
0.0% - 2.2% of UPB
0.7%
Derivative liabilities, other$18 Discounted cash flowVisa covered litigation resolution amount
$3.5 billion - $4.5 billion
$4.1 billion
Probability of resolution scenarios
10% - 25%
19%
   Time until resolution
6 - 36 months
24 months
Loans and leases (a)$345 Appraisals from comparable propertiesMarketability adjustments for specific properties
0% - 25% of appraisal
NM
Other collateral valuationsBorrowing base certificates liquidation adjustment
25% - 50% of gross value
NM
   Financial Statements liquidation adjustment
50% - 100% of reported value
NM
Auction appraisals marketability adjustment
0% - 10% of reported value
NM
OREO (b)$3 Appraisals from comparable propertiesAdjustment for value changes since appraisal
0% - 10% of appraisal
NM
 NM - Not meaningful
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government-insured mortgages.
(c)Weighted averages are determined by the relative fair value of the instruments or the relative contribution to an instrument's fair value.
(Dollars in millions)Values Utilized
Level 3 ClassFair Value at December 31, 2024Valuation TechniquesUnobservable InputRangeWeighted Average (c)
Trading securities - SBA interest-only strips$23 Discounted cash flowConstant prepayment rate
16% - 30%
17%
Bond equivalent yield
3% - 18%
17%
Loans held for sale - residential real estate$16 Discounted cash flowPrepayment speeds - First mortgage
2% - 6%
3%
Foreclosure losses
63% - 71%
64%
Loss severity trends - First mortgage
0.0% - 0.2% of UPB
0.1%
Derivative liabilities, other$15 Discounted cash flowVisa covered litigation resolution amount
$3.1 billion - $4.1 billion
$3.8 billion
Probability of resolution scenarios
10% - 25%
18%
Time until resolution
6 - 36 months
23 months
Loans and leases (a)$344 Appraisals from comparable propertiesMarketability adjustments for specific properties
0% - 25% of appraisal
NM
Other collateral valuationsBorrowing base certificates liquidation adjustment
25% - 50% of gross value
NM
Financial Statements liquidation adjustment
50% - 100% of reported value
NM
Auction appraisals marketability adjustment
0% - 10% of reported value
NM
OREO (b)$3 Appraisals from comparable propertiesAdjustment for value changes since appraisal
0% - 10% of appraisal
NM
NM - Not meaningful
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government-insured mortgages.
(c)Weighted averages are determined by the relative fair value of the instruments or the relative contribution to an instrument's fair value.
Schedule of Differences between the Fair Value Carrying Amount of Mortgages Held-for-sale and Aggregate Unpaid Principal Amount
The following table reflects the differences between the fair value carrying amount of residential real estate loans held for sale measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity.
DIFFERENCES BETWEEN FAIR VALUE CARRYING AMOUNTS AND CONTRACTUAL AMOUNTS OF RESIDENTIAL REAL ESTATE LOANS REPORTED AT FAIR VALUE
 March 31, 2025
(Dollars in millions)Fair value
carrying
amount		Aggregate
unpaid
principal		Fair value carrying amount
less aggregate unpaid
principal
Residential real estate loans held for sale reported at fair value:
Total loans$114 $117 $(3)
Nonaccrual loans2 5 (3)
 December 31, 2024
(Dollars in millions)Fair value
carrying
amount		Aggregate
unpaid
principal		Fair value carrying amount
less aggregate unpaid
principal
Residential real estate loans held for sale reported at fair value:
Total loans$85 $89 $(4)
Nonaccrual loans3 5 (2)
Schedule of Changes In Fair Value of Assets and Liabilities which Fair Value Option Included in Current Period Earnings
Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table.
CHANGES IN FAIR VALUE RECOGNIZED IN NET INCOME
 Three Months Ended
March 31,
(Dollars in millions)20252024
Changes in fair value included in net income:
Mortgage banking noninterest income
Loans held for sale$2 $1 
Schedule of Book Value and Estimated Fair Value of Financial Instruments The following table summarizes the book value and estimated fair value of financial instruments recorded in the Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024
BOOK VALUE AND ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
March 31, 2025
 Book
Value		Fair Value
(Dollars in millions)Level 1Level 2Level 3Total
Assets:
Loans and leases, net of allowance for loan and lease losses
Commercial:
Commercial, financial, and industrial
$33,009 $— $— $32,468 $32,468 
Commercial real estate13,914 — — 13,665 13,665 
Consumer:
Consumer real estate 13,859 — — 13,398 13,398 
Credit card and other611 — — 626 626 
Total loans and leases, net of allowance for loan and lease losses61,393 — — 60,157 60,157 
Short-term financial assets:
Interest-bearing deposits with banks1,164 1,164 — — 1,164 
Federal funds sold47 — 47 — 47 
Securities purchased under agreements to resell681 — 681 — 681 
Total short-term financial assets1,892 1,164 728 — 1,892 
Trading securities (a)1,376 — 1,354 22 1,376 
Loans held for sale:
Mortgage loans (elected fair value) (a)114 — 101 13 114 
USDA & SBA loans - LOCOM372 — 372 — 372 
Mortgage loans - LOCOM24 — — 24 24 
Total loans held for sale510 — 473 37 510 
Securities available for sale (a)8,075 — 8,075 — 8,075 
Securities held to maturity1,258 — 1,092 — 1,092 
Derivative assets (a)429 5 424 — 429 
Other assets:
Tax credit investments747 — — 715 715 
Deferred compensation mutual funds107 107 — — 107 
Equity, mutual funds, and other (b)304 35 — 269 304 
Total other assets1,158 142 — 984 1,126 
Total assets$76,091 $1,311 $12,146 $61,200 $74,657 
Liabilities:
Defined maturity deposits$5,918 $— $5,896 $— $5,896 
Trading liabilities (a)670 — 670 — 670 
Short-term financial liabilities:
Federal funds purchased812 — 812 — 812 
Securities sold under agreements to repurchase1,760 — 1,760 — 1,760 
Other short-term borrowings1,223 — 1,223 — 1,223 
Total short-term financial liabilities3,795 — 3,795 — 3,795 
Term borrowings:
Real estate investment trust-preferred47 — — 47 47 
Notes payable—new market tax credit investments
74 — — 71 71 
Secured borrowings35 — — 35 35 
Junior subordinated debentures152 — — 142 142 
Other long-term borrowings1,383 — 1,376 — 1,376 
Total term borrowings1,691 — 1,376 295 1,671 
Derivative liabilities (a)529 4 507 18 529 
Total liabilities$12,603 $4 $12,244 $313 $12,561 
(a)Classes are detailed in the recurring measurement table.
(b)Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $66 million and FRB stock of $203 million.
 December 31, 2024
 Book
Value		Fair Value
(Dollars in millions)Level 1Level 2Level 3Total
Assets:
Loans and leases, net of allowance for loan and lease losses
Commercial:
Commercial, financial, and industrial
$33,083 $— $— $32,511 $32,511 
Commercial real estate14,194 — — 13,894 13,894 
Consumer:
Consumer real estate 13,826 — — 13,262 13,262 
Credit card and other647 — — 657 657 
Total loans and leases, net of allowance for loan and lease losses61,750 — — 60,324 60,324 
Short-term financial assets:
Interest-bearing deposits with banks1,538 1,538 — — 1,538 
Federal funds sold59 — 59 — 59 
Securities purchased under agreements to resell572 — 572 — 572 
Total short-term financial assets2,169 1,538 631 — 2,169 
Trading securities (a)1,387 — 1,364 23 1,387 
Loans held for sale:
Mortgage loans (elected fair value) (a)85 — 69 16 85 
USDA & SBA loans - LOCOM439 — 439 — 439 
Mortgage loans - LOCOM27 — — 27 27 
Total loans held for sale551 — 508 43 551 
Securities available for sale (a) 7,896 — 7,896 — 7,896 
Securities held to maturity1,270 — 1,083 — 1,083 
Derivative assets (a)531 8 523 — 531 
Other assets:
Tax credit investments706 — — 692 692 
Deferred compensation mutual funds111 111 — — 111 
Equity, mutual funds, and other (b)289 35 — 254 289 
Total other assets1,106 146 — 946 1,092 
Total assets$76,660 $1,692 $12,005 $61,336 $75,033 
Liabilities:
Defined maturity deposits$6,613 $— $6,591 $— $6,591 
Trading liabilities (a)550 — 550 — 550 
Short-term financial liabilities:
Federal funds purchased259 — 259 — 259 
Securities sold under agreements to repurchase2,096 — 2,096 — 2,096 
Other short-term borrowings1,045 — 1,045 — 1,045 
Total short-term financial liabilities3,400 — 3,400 — 3,400 
Term borrowings:
Real estate investment trust-preferred47 — — 47 47 
Notes payable—new market tax credit investments
74 — — 70 70 
Secured borrowings37 — — 37 37 
Junior subordinated debentures151 — — 142 142 
Other long-term borrowings886 — 866 — 866 
Total term borrowings1,195 — 866 296 1,162 
Derivative liabilities (a)671 6 650 15 671 
Total liabilities$12,429 $6 $12,057 $311 $12,374 
(a)Classes are detailed in the recurring measurement table.
(b)Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $51 million and FRB stock of $203 million.
The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of March 31, 2025 and December 31, 2024.
UNFUNDED COMMITMENTS
 Contractual AmountFair Value
(Dollars in millions)March 31, 2025December 31, 2024March 31, 2025December 31, 2024
Unfunded Commitments:
Loan commitments$21,158 $20,992 $1 $1 
Standby and other commitments709 753 9 9