Investment Securities (Tables)

9 Months Ended

Sep. 30, 2025

The following tables summarize FHN’s investment securities as of September 30, 2025 and December 31, 2024.


INVESTMENT SECURITIES AT SEPTEMBER 30, 2025
	September 30, 2025
(Dollars in millions)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available for sale:

Government agency issued MBS	$	4,039	$	7	$	(364)	$	3,682
Government agency issued CMO	3,078		4		(239)		2,843
Other U.S. government agencies	1,355		2		(117)		1,240

States and municipalities	366		1		(30)		337
Total securities available for sale (a)	$	8,838	$	14	$	(750)	$	8,102

Securities held to maturity:
Government agency issued MBS	$	769	$	—	$	(81)	$	688
Government agency issued CMO	460		—		(69)		391
Total securities held to maturity (a)	$	1,229	$	—	$	(150)	$	1,079

(a)Includes $7.0 billion of securities available for sale and $0.9 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 September 30, 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	$	—	$	—	$	16	$	16
After 1 year through 5 years	—		—		93		87
After 5 years through 10 years	—		—		480		456
After 10 years	—		—		1,132		1,018
Subtotal	—		—		1,721		1,577
Government agency issued MBS and CMO (a)	1,229		1,079		7,117		6,525
Total	$	1,229	$	1,079	$	8,838	$	8,102

(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 September 30, 2025 and December 31, 2024.

AFS INVESTMENT SECURITIES WITH UNREALIZED LOSSES


	As of September 30, 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	$	146	$	(1)	$	2,885	$	(363)	$	3,031	$	(364)
Government agency issued CMO	407		—		1,720		(239)		2,127		(239)
Other U.S. government agencies	300		(1)		801		(116)		1,101		(117)

States and municipalities	30		—		239		(30)		269		(30)
Total	$	883	$	(2)	$	5,645	$	(748)	$	6,528	$	(750)


	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)