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Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2025 and December 31, 2024.
BALANCES OF ASSETS & LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
 June 30, 2025
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
Government agency issued MBS$— $148 $— $148 
Government agency issued CMO— 120 — 120 
Other U.S. government agencies— 41 — 41 
States and municipalities— 64 — 64 
Corporate and other debt— 1,030 — 1,030 
SBA interest-only strips— — 27 27 
Total trading securities— 1,403 27 1,430 
Loans held for sale (elected fair value)— 102 12 114 
Securities available for sale:
Government agency issued MBS— 3,746 — 3,746 
Government agency issued CMO— 2,932 — 2,932 
Other U.S. government agencies— 1,102 — 1,102 
States and municipalities— 337 — 337 
Total securities available for sale— 8,117 — 8,117 
Other assets:
Deferred compensation mutual funds111 — — 111 
Equity, mutual funds, and other36 — — 36 
Derivatives, forwards and futures10 — — 10 
Derivatives, interest rate contracts— 373 — 373 
Total other assets157 373 — 530 
Total assets$157 $9,995 $39 $10,191 
Trading liabilities:
U.S. treasuries$— $328 $— $328 
Corporate and other debt— 141 — 141 
Total trading liabilities— 469 — 469 
Other liabilities:
Derivatives, forwards and futures12 — — 12 
Derivatives, interest rate contracts— 430 — 430 
Derivatives, other— — 13 13 
Total other liabilities12 430 13 455 
Total liabilities$12 $899 $13 $924 
 December 31, 2024
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $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 June 30, 2025 and 2024 on a recurring basis are summarized as follows.
CHANGES IN LEVEL 3 ASSETS & LIABILITIES
MEASURED AT FAIR VALUE ON A RECURRING BASIS
 Three Months Ended June 30, 2025 
(Dollars in millions)
SBA interest-only strips
Loans held
for sale		Net 
derivative
liabilities
Balance on April 1, 2025$22 $13 $(18)
Total net gains (losses) included in net income(2)— — 
Sales— (1)— 
Settlements— — 5 
Net transfers into (out of) Level 37 (b)— — 
Balance on June 30, 2025$27 $12 $(13)
Net unrealized gains (losses) included in net income$(1)(c)$— (a)$— (d)
 Three Months Ended June 30, 2024 
(Dollars in millions)
SBA interest-only strips
Loans held
for sale		Net 
derivative
liabilities
Balance on April 1, 2024$19  $14 $(20)
Total net gains (losses) included in net income(1) — — 
Purchases— 1 — 
Sales(8)— — 
Settlements— (1)2 
Net transfers into (out of) Level 36 (b)1 — 
Balance on June 30, 2024$16  $15 $(18)
Net unrealized gains (losses) included in net income$— (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.
The changes in Level 3 assets and liabilities measured at fair value for the six months ended June 30, 2025 and 2024 on a recurring basis are summarized as follows.
CHANGES IN LEVEL 3 ASSETS & LIABILITIES
MEASURED AT FAIR VALUE ON A RECURRING BASIS
 Six Months Ended June 30, 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(4)—  (5)
Sales(3)(5)— 
Settlements— — 7 
Net transfers into (out of) Level 311 (b)1 — 
Balance on June 30, 2025$27 $12  $(13)
Net unrealized gains (losses) included in net income$(2)(c)$— (a)$(5)(d)
 Six Months Ended June 30, 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(2)—  — 
Purchases— 2  — 
Sales(10)(13)— 
Settlements— (1)5 
Net transfers into (out of) Level 315 (b)1 — 
Balance on June 30, 2024$16 $15  $(18)
Net unrealized gains (losses) included in net income$(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 June 30, 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 June 30, 2025
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $264 $— $264 
Loans and leases (a)— — 379 379 
OREO (b)— — 4 4 
 Carrying value at December 31, 2024
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $438 $— $438 
Loans and leases (a)— — 344 344 
OREO (b)— — 3 3 
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government-insured mortgages.
Schedule of Gains/(losses) on Nonrecurring Fair Value Measurements
For assets measured on a nonrecurring basis which were still held on the Consolidated Balance Sheets at period end, the following table provides information about the fair value adjustments recorded during the three and six months ended June 30, 2025 and 2024.
FAIR VALUE ADJUSTMENTS ON ASSETS MEASURED ON A NONRECURRING BASIS
Net gains (losses)
Three Months Ended June 30,		Net gains (losses)
Six Months Ended June 30,
(Dollars in millions)2025202420252024
Loans held for sale—SBAs and USDA$— $(1)$— $(1)
Loans and leases (a)(16)(31)(33)(56)
$(16)$(32)$(33)$(57)
(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 June 30, 2025 and December 31, 2024.
UNOBSERVABLE INPUTS USED IN LEVEL 3 FAIR VALUE MEASUREMENTS
(Dollars in millions)Values Utilized
Level 3 ClassFair Value at June 30, 2025Valuation TechniquesUnobservable InputRangeWeighted Average (c)
Trading securities - SBA interest-only strips$27 Discounted cash flowConstant prepayment rate
16% - 30%
17%
Bond equivalent yield
3% - 18%
17%
Loans held for sale - residential real estate$12 Discounted cash flowPrepayment speeds - First mortgage
2% - 6%
3%
Foreclosure losses
64% - 65%
64%
Loss severity trends - First mortgage
0.0% - 2.2% of UPB
0.8%
Derivative liabilities, other$13 Discounted cash flowVisa covered litigation resolution amount
$2.9 billion - $3.7 billion
$3.5 billion
Probability of resolution scenarios
10% - 25%
22%
   Time until resolution
6 - 36 months
23 months
Loans and leases (a)$379 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)$4 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
 June 30, 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 $118 $(4)
Nonaccrual loans7 11 (4)
 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 $(4)
Nonaccrual loans3 5 (2)
Schedule of Changes In Fair Value of Assets and Liabilities which Fair Value Option Included in Current Period Earnings
Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table.
CHANGES IN FAIR VALUE RECOGNIZED IN NET INCOME
 Three Months Ended
June 30,		Six Months Ended
June 30,
(Dollars in millions)2025202420252024
Changes in fair value included in net income:
Mortgage banking noninterest income
Loans held for sale$— $1 $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 June 30, 2025 and December 31, 2024
BOOK VALUE AND ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
June 30, 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
$34,012 $— $— $33,574 $33,574 
Commercial real estate13,723 — — 13,636 13,636 
Consumer:
Consumer real estate 14,135 — — 13,600 13,600 
Credit card and other576 — — 595 595 
Total loans and leases, net of allowance for loan and lease losses62,446 — — 61,405 61,405 
Short-term financial assets:
Interest-bearing deposits with banks911 911 — — 911 
Federal funds sold34 — 34 — 34 
Securities purchased under agreements to resell493 — 493 — 493 
Total short-term financial assets1,438 911 527 — 1,438 
Trading securities (a)1,430 — 1,403 27 1,430 
Loans held for sale:
Mortgage loans (elected fair value)114 — 102 12 114 
USDA & SBA loans - LOCOM264 — 265 — 265 
Mortgage loans - LOCOM24 — — 24 24 
Total loans held for sale402 — 367 36 403 
Securities available for sale (a)8,117 — 8,117 — 8,117 
Securities held to maturity1,245 — 1,083 — 1,083 
Derivative assets (a)383 10 373 — 383 
Other assets:
Tax credit investments784 — — 733 733 
Deferred compensation mutual funds111 111 — — 111 
Equity, mutual funds, and other (b)322 36 — 286 322 
Total other assets1,217 147 — 1,019 1,166 
Total assets$76,678 $1,068 $11,870 $62,487 $75,425 
Liabilities:
Defined maturity deposits$7,270 $— $7,246 $— $7,246 
Trading liabilities (a)469 — 469 — 469 
Short-term financial liabilities:
Federal funds purchased996 — 996 — 996 
Securities sold under agreements to repurchase2,205 — 2,205 — 2,205 
Other short-term borrowings260 — 260 — 260 
Total short-term financial liabilities3,461 — 3,461 — 3,461 
Term borrowings:
Real estate investment trust-preferred47 — — 47 47 
Notes payable—new market tax credit investments
74 — — 72 72 
Secured borrowings34 — — 34 34 
Junior subordinated debentures152 — — 142 142 
Other long-term borrowings1,035 — 1,039 — 1,039 
Total term borrowings1,342 — 1,039 295 1,334 
Derivative liabilities (a)455 12 430 13 455 
Total liabilities$12,997 $12 $12,645 $308 $12,965 
(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 $83 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)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 June 30, 2025 and December 31, 2024.
UNFUNDED COMMITMENTS
 Contractual AmountFair Value
(Dollars in millions)June 30, 2025December 31, 2024June 30, 2025December 31, 2024
Unfunded Commitments:
Loan commitments$20,937 $20,992 $1 $1 
Standby and other commitments720 753 9 9