XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.20.2

Business Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Segment Reporting, Measurement Disclosures [Abstract] |
Amounts Of Consolidated Revenue, Expense, Tax And Assets | The following table reflects the amounts of consolidated revenue, expense, tax, and average assets for each segment for the three and six months ended June 30:
|  | Three Months Ended June 30 |  | Six Months Ended June 30
(Dollars in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Consolidated |  |  |  |  |  |  |  |
Net interest income |  | $ | 305,344 |  |  | $ | 303,610 |  |  | $ | 608,146 |  |  | $ | 598,118 |
Provision/(provision credit) for loan losses (a) |  | 110,000 |  |  | 13,000 |  |  | 255,000 |  |  | 22,000 |
Noninterest income |  | 206,269 |  |  | 157,993 |  |  | 381,025 |  |  | 299,038 |
Noninterest expense |  | 332,168 |  |  | 300,394 |  |  | 643,487 |  |  | 596,484 |
Income/(loss) before income taxes |  | 69,445 |  |  | 148,209 |  |  | 90,684 |  |  | 278,672 |
Provision/(benefit) for income taxes |  | 12,780 |  |  | 34,467 |  |  | 17,547 |  |  | 61,525 |
Net income/(loss) |  | $ | 56,665 |  |  | $ | 113,742 |  |  | $ | 73,137 |  |  | $ | 217,147 |
Average assets |  | $ | 47,934,074 |  |  | $ | 41,243,007 |  |  | $ | 45,742,993 |  |  | $ | 41,064,093 |
(a) | Increase in provision expense for the three and six months ended June 30, 2020 is primarily due to the economic forecast attributable to the COVID-19 pandemic.
|  | Three Months Ended June 30 |  | Six Months Ended June 30
(Dollars in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Regional Banking |  |  |  |  |  |  |  |
Net interest income |  | $ | 349,749 |  |  | $ | 297,534 |  |  | $ | 649,936 |  |  | $ | 583,636 |
Provision/(provision credit) for loan losses (a) |  | 108,311 |  |  | 17,776 |  |  | 253,752 |  |  | 31,218 |
Noninterest income |  | 79,312 |  |  | 81,565 |  |  | 161,208 |  |  | 154,626 |
Noninterest expense |  | 202,297 |  |  | 192,413 |  |  | 413,331 |  |  | 391,043 |
Income/(loss) before income taxes |  | 118,453 |  |  | 168,910 |  |  | 144,061 |  |  | 316,001 |
Provision/(benefit) for income taxes |  | 26,948 |  |  | 39,788 |  |  | 31,349 |  |  | 73,909 |
Net income/(loss) |  | $ | 91,505 |  |  | $ | 129,122 |  |  | $ | 112,712 |  |  | $ | 242,092 |
Average assets |  | $ | 35,732,966 |  |  | $ | 30,210,728 |  |  | $ | 33,952,986 |  |  | $ | 29,515,773 |
Fixed Income |  |  |  |  |  |  |  |
Net interest income |  | $ | 13,545 |  |  | $ | 6,171 |  |  | $ | 24,459 |  |  | $ | 13,503 |
Noninterest income |  | 113,235 |  |  | 65,622 |  |  | 208,958 |  |  | 119,429 |
Noninterest expense |  | 83,039 |  |  | 55,534 |  |  | 164,102 |  |  | 106,067 |
Income/(loss) before income taxes |  | 43,741 |  |  | 16,259 |  |  | 69,315 |  |  | 26,865 |
Provision/(benefit) for income taxes |  | 10,679 |  |  | 3,840 |  |  | 16,778 |  |  | 6,297 |
Net income/(loss) |  | $ | 33,062 |  |  | $ | 12,419 |  |  | $ | 52,537 |  |  | $ | 20,568 |
Average assets |  | $ | 3,260,362 |  |  | $ | 3,127,305 |  |  | $ | 3,512,277 |  |  | $ | 2,988,548 |
Corporate |  |  |  |  |  |  |  |
Net interest income/(expense) |  | $ | (63,493 | ) |  | $ | (7,146 | ) |  | $ | (76,852 | ) |  | $ | (15,060 | )
Noninterest income (b) |  | 12,943 |  |  | 9,401 |  |  | 9,225 |  |  | 22,754 |
Noninterest expense (b) (c) (d) |  | 43,218 |  |  | 56,873 |  |  | 58,667 |  |  | 98,652 |
Income/(loss) before income taxes |  | (93,768 | ) |  | (54,618 | ) |  | (126,294 | ) |  | (90,958 | )
Provision/(benefit) for income taxes |  | (25,097 | ) |  | (13,525 | ) |  | (31,469 | ) |  | (25,296 | )
Net income/(loss) |  | $ | (68,671 | ) |  | $ | (41,093 | ) |  | $ | (94,825 | ) |  | $ | (65,662 | )
Average assets |  | $ | 8,168,307 |  |  | $ | 6,827,937 |  |  | $ | 7,476,249 |  |  | $ | 7,439,591 |
Non-Strategic |  |  |  |  |  |  |  |
Net interest income |  | $ | 5,543 |  |  | $ | 7,051 |  |  | $ | 10,603 |  |  | $ | 16,039 |
Provision/(provision credit) for loan losses (a) |  | 1,689 |  |  | (4,776 | ) |  | 1,248 |  |  | (9,218 | )
Noninterest income |  | 779 |  |  | 1,405 |  |  | 1,634 |  |  | 2,229 |
Noninterest expense |  | 3,614 |  |  | (4,426 | ) |  | 7,387 |  |  | 722 |
Income/(loss) before income taxes |  | 1,019 |  |  | 17,658 |  |  | 3,602 |  |  | 26,764 |
Provision/(benefit) for income taxes |  | 250 |  |  | 4,364 |  |  | 889 |  |  | 6,615 |
Net income/(loss) |  | $ | 769 |  |  | $ | 13,294 |  |  | $ | 2,713 |  |  | $ | 20,149 |
Average assets |  | $ | 772,439 |  |  | $ | 1,077,037 |  |  | $ | 801,481 |  |  | $ | 1,120,181 |
Certain previously reported amounts have been reclassified to agree with current presentation.
(a) | Increase in provision expense for the three and six months ended June 30, 2020 is primarily due to the economic forecast attributable to the COVID-19 pandemic.
(b) | Balance for the six months ended June 30, 2020 includes a decrease due to fluctuations in deferred compensation income driven by equity market valuations and mirrored by changes in deferred compensation expense, which is included in employee compensation expense.
(c) | 2020 and 2019 include acquisition-related expenses and restructuring-related costs associated with efficiency initiatives; refer to Note 2 - Acquisitions and Divestitures and Note 17 - Restructuring, Repositioning, and Efficiency for additional information.
(d) | Three and six months ended June 30, 2019 includes $9.1 million of asset impairments, professional fees, and other customer-contact and technology-related expenses associated with rebranding initiatives.
The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended June 30, 2020 and 2019:
| Three months ended June 30, 2020
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non-Strategic |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |  |
Fixed income (a) | $ | 81 |  |  | $ | 112,340 |  |  | $ | — |  |  | $ | — |  |  | $ | 112,421 |
Deposit transactions and cash management | 29,541 |  |  | — |  |  | 1,204 |  |  | 42 |  |  | 30,787 |
Brokerage, management fees and commissions | 13,800 |  |  | — |  |  | — |  |  | — |  |  | 13,800 |
Trust services and investment management | 7,750 |  |  | — |  |  | (17 | ) |  | — |  |  | 7,733 |
Bankcard income | 6,551 |  |  | — |  |  | 74 |  |  | 27 |  |  | 6,652 |
BOLI (b) | — |  |  | — |  |  | 6,380 |  |  | — |  |  | 6,380 |
Debt securities gains/(losses), net (b) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Equity securities gains/(losses), net (b) | — |  |  | — |  |  | (1,493 | ) |  | — |  |  | (1,493 | )
All other income and commissions (c) | 21,589 |  |  | 895 |  |  | 6,795 |  |  | 710 |  |  | 29,989 |
Total noninterest income | $ | 79,312 |  |  | $ | 113,235 |  |  | $ | 12,943 |  |  | $ | 779 |  |  | $ | 206,269 |
(a) | Includes $8.8 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("ASC") 606, "Revenue From Contracts With Customers."
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income.
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606.
| Three months ended June 30, 2019
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non- Strategic |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |  |
Fixed income (a) | $ | 46 |  |  | $ | 65,262 |  |  | $ | — |  |  | $ | 1,106 |  |  | $ | 66,414 |
Deposit transactions and cash management | 30,632 |  |  | 1 |  |  | 1,707 |  |  | 34 |  |  | 32,374 |
Brokerage, management fees and commissions | 14,120 |  |  | — |  |  | — |  |  | — |  |  | 14,120 |
Trust services and investment management | 7,902 |  |  | — |  |  | (14 | ) |  | — |  |  | 7,888 |
Bankcard income | 6,597 |  |  | — |  |  | 60 |  |  | (302 | ) |  | 6,355 |
BOLI (b) | — |  |  | — |  |  | 5,126 |  |  | — |  |  | 5,126 |
Debt securities gains/(losses), net (b) | — |  |  | — |  |  | (267 | ) |  | — |  |  | (267 | )
Equity securities gains/(losses), net (b) | — |  |  | — |  |  | 316 |  |  | — |  |  | 316 |
All other income and commissions (c) | 22,268 |  |  | 359 |  |  | 2,473 |  |  | 567 |  |  | 25,667 |
Total noninterest income | $ | 81,565 |  |  | $ | 65,622 |  |  | $ | 9,401 |  |  | $ | 1,405 |  |  | $ | 157,993 |
Certain previously reported amounts have been reclassified to agree with current presentation.
(a) | Includes $7.1 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards
Codification ("ASC") 606, "Revenue From Contracts With Customers."
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile
total non-interest income.
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC
606. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the six months ended June 30, 2020 and 2019:
| Six Months Ended June 30, 2020
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non-Strategic |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |  |
Fixed income (a) | $ | 202 |  |  | $ | 207,854 |  |  | $ | — |  |  | $ | — |  |  | $ | 208,056 |
Deposit transactions and cash management | 58,368 |  |  | — |  |  | 2,640 |  |  | 69 |  |  | 61,077 |
Brokerage, management fees and commissions | 29,205 |  |  | — |  |  | — |  |  | — |  |  | 29,205 |
Trust services and investment management | 14,963 |  |  | — |  |  | (35 | ) |  | — |  |  | 14,928 |
Bankcard income | 13,703 |  |  | — |  |  | 143 |  |  | 59 |  |  | 13,905 |
BOLI (b) | — |  |  | — |  |  | 10,969 |  |  | — |  |  | 10,969 |
Debt securities gains/(losses), net (b) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Equity securities gains/(losses), net (b) | — |  |  | — |  |  | (1,468 | ) |  | — |  |  | (1,468 | )
All other income and commissions (c) (d) | 44,767 |  |  | 1,104 |  |  | (3,024 | ) |  | 1,506 |  |  | 44,353 |
Total noninterest income | $ | 161,208 |  |  | $ | 208,958 |  |  | $ | 9,225 |  |  | $ | 1,634 |  |  | $ | 381,025 |
(a) | Includes $18.1 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards Codification ("ASC") 606, "Revenue From Contracts With Customers."
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income.
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC 606.
(d) | Corporate balance includes negative deferred compensation income driven by equity market valuations.
| Six Months Ended June 30, 2019
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non- Strategic |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |  |
Fixed income (a) | $ | 63 |  |  | $ | 118,994 |  |  | $ | — |  |  | $ | 1,106 |  |  | $ | 120,163 |
Deposit transactions and cash management | 60,658 |  |  | 4 |  |  | 3,270 |  |  | 63 |  |  | 63,995 |
Brokerage, management fees and commissions | 26,753 |  |  | — |  |  | — |  |  | — |  |  | 26,753 |
Trust services and investment management | 14,958 |  |  | — |  |  | (44 | ) |  | — |  |  | 14,914 |
Bankcard income | 13,640 |  |  | — |  |  | 122 |  |  | (455 | ) |  | 13,307 |
BOLI (b) | — |  |  | — |  |  | 9,528 |  |  | — |  |  | 9,528 |
Debt securities gains/(losses), net (b) | — |  |  | — |  |  | (267 | ) |  | — |  |  | (267 | )
Equity securities gains/(losses), net (b) | — |  |  | — |  |  | 347 |  |  | — |  |  | 347 |
All other income and commissions (c) | 38,554 |  |  | 431 |  |  | 9,798 |  |  | 1,515 |  |  | 50,298 |
Total noninterest income | $ | 154,626 |  |  | $ | 119,429 |  |  | $ | 22,754 |  |  | $ | 2,229 |  |  | $ | 299,038 |
Certain previously reported amounts have been reclassified to agree with current presentation.
(a) | Includes $14.4 million of underwriting, portfolio advisory, and other noninterest income in scope of Accounting Standards
Codification ("ASC") 606, "Revenue From Contracts With Customers."
(b) | Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile
total non-interest income.
(c) | Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commission in scope of ASC
606.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingMeasurementDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration