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Business Segment Information (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 30:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Consolidated |  |  |  |  |  |  |  |
Net interest income |  | $ | 532,365 |  |  | $ | 300,676 |  |  | $ | 1,140,511 |  |  | $ | 898,794 |
Provision for credit losses (a) |  | 227,000 |  |  | 14,366 |  |  | 502,388 |  |  | 36,273 |
Noninterest income |  | 822,923 |  |  | 171,735 |  |  | 1,203,948 |  |  | 470,773 |
Noninterest expense |  | 587,040 |  |  | 308,306 |  |  | 1,210,139 |  |  | 904,883 |
Income before income taxes |  | 541,248 |  |  | 149,739 |  |  | 631,932 |  |  | 428,411 |
Provision for income taxes |  | 2,210 |  |  | 35,796 |  |  | 19,757 |  |  | 97,321 |
Net income |  | $ | 539,038 |  |  | $ | 113,943 |  |  | $ | 612,175 |  |  | $ | 331,090 |
Average assets |  | $ | 81,683,111 |  |  | $ | 41,940,901 |  |  | $ | 57,810,478 |  |  | $ | 41,359,574 |
(a)Increase in provision expense for the three and nine months ended September 30, 2020 is primarily due to provision related to non-PCD loans acquired in the IBKC merger and Truist branch acquisition and the economic forecast attributable to the COVID-19 pandemic.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Regional Banking |  |  |  |  |  |  |  |
Net interest income |  | $ | 583,907 |  |  | $ | 302,467 |  |  | $ | 1,233,654 |  |  | $ | 885,932 |
Provision for credit losses |  | 227,326 |  |  | 19,839 |  |  | 501,453 |  |  | 50,967 |
Noninterest income |  | 172,457 |  |  | 85,930 |  |  | 333,669 |  |  | 240,555 |
Noninterest expense |  | 373,680 |  |  | 193,956 |  |  | 768,870 |  |  | 586,697 |
Income before income taxes |  | 155,358 |  |  | 174,602 |  |  | 297,000 |  |  | 488,823 |
Provision for income taxes |  | 34,744 |  |  | 41,795 |  |  | 65,497 |  |  | 115,266 |
Net income |  | $ | 120,614 |  |  | $ | 132,807 |  |  | $ | 231,503 |  |  | $ | 373,557 |
Average assets |  | $ | 64,371,210 |  |  | $ | 31,632,768 |  |  | $ | 44,170,906 |  |  | $ | 30,231,372 |
Fixed Income |  |  |  |  |  |  |  |
Net interest income |  | $ | 11,632 |  |  | $ | 5,309 |  |  | $ | 36,088 |  |  | $ | 18,809 |
Noninterest income |  | 110,783 |  |  | 77,808 |  |  | 319,741 |  |  | 197,238 |
Noninterest expense |  | 67,395 |  |  | 67,582 |  |  | 231,488 |  |  | 173,656 |
Income before income taxes |  | 55,020 |  |  | 15,535 |  |  | 124,341 |  |  | 42,391 |
Provision for income taxes |  | 13,456 |  |  | 3,707 |  |  | 30,236 |  |  | 10,001 |
Net income |  | $ | 41,564 |  |  | $ | 11,828 |  |  | $ | 94,105 |  |  | $ | 32,390 |
Average assets |  | $ | 3,002,282 |  |  | $ | 2,882,478 |  |  | $ | 3,341,255 |  |  | $ | 2,952,925 |
Corporate |  |  |  |  |  |  |  |
Net interest income (expense) |  | $ | (69,187) |  |  | $ | (13,252) |  |  | $ | (145,847) |  |  | $ | (28,136) |
Noninterest income |  | 539,668 |  |  | 7,359 |  |  | 548,891 |  |  | 30,112 |
Noninterest expense |  | 142,894 |  |  | 42,297 |  |  | 199,461 |  |  | 139,052 |
Income (loss) before income taxes |  | 327,587 |  |  | (48,190) |  |  | 203,583 |  |  | (137,076) |
Provision (benefit) for income taxes |  | (46,785) |  |  | (11,632) |  |  | (77,690) |  |  | (36,416) |
Net income (loss) |  | $ | 374,372 |  |  | $ | (36,558) |  |  | $ | 281,273 |  |  | $ | (100,660) |
Average assets |  | $ | 13,595,544 |  |  | $ | 6,434,633 |  |  | $ | 9,527,471 |  |  | $ | 7,098,500 |
Non-Strategic |  |  |  |  |  |  |  |
Net interest income |  | $ | 6,013 |  |  | $ | 6,152 |  |  | $ | 16,616 |  |  | $ | 22,189 |
Provision/(provision credit) for loan losses |  | (326) |  |  | (5,473) |  |  | 935 |  |  | (14,694) |
Noninterest income |  | 15 |  |  | 638 |  |  | 1,647 |  |  | 2,868 |
Noninterest expense |  | 3,071 |  |  | 4,471 |  |  | 10,320 |  |  | 5,478 |
Income before income taxes |  | 3,283 |  |  | 7,792 |  |  | 7,008 |  |  | 34,273 |
Provision for income taxes |  | 795 |  |  | 1,926 |  |  | 1,714 |  |  | 8,470 |
Net income |  | $ | 2,488 |  |  | $ | 5,866 |  |  | $ | 5,294 |  |  | $ | 25,803 |
Average assets |  | $ | 714,075 |  |  | $ | 991,022 |  |  | $ | 770,846 |  |  | $ | 1,076,777 |
Certain previously reported amounts have been reclassified to agree with current presentation. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended September 30, 2020 and 2019:
| Three months ended September 30, 2020
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non-Strategic |  | Consolidated
Fixed income (a) | 380 |  |  | 110,563 |  |  | — |  |  | — |  |  | 110,943 |
Mortgage banking and title income | 65,569 |  |  | — |  |  | 23 |  |  | (89) |  |  | 65,503 |
Deposit transactions and cash management | 40,500 |  |  | — |  |  | 1,528 |  |  | 28 |  |  | 42,056 |
Brokerage, management fees and commissions | 19,595 |  |  | — |  |  | (1,704) |  |  | — |  |  | 17,891 |
Trust services and investment management | 14,599 |  |  | — |  |  | (2,858) |  |  | — |  |  | 11,741 |
Bankcard income | 10,150 |  |  | — |  |  | 277 |  |  | 30 |  |  | 10,457 |
Securities gains (losses), net (b) | — |  |  | — |  |  | (1,170) |  |  | — |  |  | (1,170) |
Purchase accounting gain | — |  |  | — |  |  | 532,150 |  |  | — |  |  | 532,150 |
Other income (c) | 21,664 |  |  | 220 |  |  | 11,422 |  |  | 46 |  |  | 33,352 |
Total noninterest income | $ | 172,457 |  |  | $ | 110,783 |  |  | $ | 539,668 |  |  | $ | 15 |  |  | $ | 822,923 |
(a)Includes $9.9 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 noninterest income. (c)Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commissions in scope of ASC 606.
| Three months ended September 30, 2019
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non- Strategic |  | Consolidated
Fixed income (a) | 57 |  |  | 77,588 |  |  | — |  |  | — |  |  | 77,645 |
Mortgage banking and title income | 1,643 |  |  | — |  |  | — |  |  | 376 |  |  | 2,019 |
Deposit transactions and cash management | 32,624 |  |  | — |  |  | 1,721 |  |  | 34 |  |  | 34,379 |
Brokerage, management fees and commissions | 14,157 |  |  | — |  |  | — |  |  | — |  |  | 14,157 |
Trust services and investment management | 7,190 |  |  | — |  |  | (27) |  |  | — |  |  | 7,163 |
Bankcard income | 7,030 |  |  | 11 |  |  | 63 |  |  | (87) |  |  | 7,017 |
Securities gains (losses), net (b) | — |  |  | — |  |  | 97 |  |  | — |  |  | 97 |
Other income (c) | 23,229 |  |  | 209 |  |  | 5,505 |  |  | 315 |  |  | 29,258 |
Total noninterest income | $ | 85,930 |  |  | $ | 77,808 |  |  | $ | 7,359 |  |  | $ | 638 |  |  | $ | 171,735 |
Certain previously reported amounts have been reclassified to agree with current presentation. (a)Includes $9.2 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 noninterest income. (c)Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commissions 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 nine months ended September 30, 2020 and 2019:
| Nine Months Ended September 30, 2020
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non-Strategic |  | Consolidated
Fixed income (a) | 582 |  |  | 318,417 |  |  | — |  |  | — |  |  | 318,999 |
Deposit transactions and cash management | 98,906 |  |  | — |  |  | 4,131 |  |  | 96 |  |  | 103,133 |
Mortgage banking and title income | 71,168 |  |  | — |  |  | 23 |  |  | 881 |  |  | 72,072 |
Brokerage, management fees and commissions | 48,799 |  |  | — |  |  | (1,703) |  |  | — |  |  | 47,096 |
Trust services and investment management | 29,562 |  |  | — |  |  | (2,893) |  |  | — |  |  | 26,669 |
Bankcard income | 23,853 |  |  | — |  |  | 421 |  |  | 88 |  |  | 24,362 |
Securities gains (losses), net (b) | — |  |  | — |  |  | (2,638) |  |  | — |  |  | (2,638) |
Purchase accounting gain | — |  |  | — |  |  | 532,150 |  |  | — |  |  | 532,150 |
Other income (c)(d) | 60,799 |  |  | 1,324 |  |  | 19,400 |  |  | 582 |  |  | 82,105 |
Total noninterest income | $ | 333,669 |  |  | $ | 319,741 |  |  | $ | 548,891 |  |  | $ | 1,647 |  |  | $ | 1,203,948 |
(a)Includes $28.6 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 noninterest income. (c)Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commissions in scope of ASC 606. (d)Corporate balance includes negative deferred compensation income driven by equity market valuations.
| Nine Months Ended September 30, 2019
(Dollars in thousands) | Regional Banking |  | Fixed Income |  | Corporate |  | Non- Strategic |  | Consolidated
Fixed income (a) | 120 |  |  | 196,582 |  |  | — |  |  | 1,106 |  |  | 197,808 |
Mortgage banking and title income | 5,119 |  |  | — |  |  | — |  |  | 1,358 |  |  | 6,477 |
Deposit transactions and cash management | 93,316 |  |  | 4 |  |  | 4,956 |  |  | 98 |  |  | 98,374 |
Brokerage, management fees and commissions | 40,910 |  |  | — |  |  | — |  |  | — |  |  | 40,910 |
Trust services and investment management | 22,148 |  |  | — |  |  | (71) |  |  | — |  |  | 22,077 |
Bankcard income | 20,670 |  |  | 11 |  |  | 185 |  |  | (542) |  |  | 20,324 |
Securities gains (losses), net (b) | — |  |  | — |  |  | 177 |  |  | — |  |  | 177 |
Purchase accounting gain | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other income (c)(d) | 58,272 |  |  | 641 |  |  | 24,865 |  |  | 848 |  |  | 84,626 |
Total noninterest income | $ | 240,555 |  |  | $ | 197,238 |  |  | $ | 30,112 |  |  | $ | 2,868 |  |  | $ | 470,773 |
Certain previously reported amounts have been reclassified to agree with current presentation. (a)Includes $23.6 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 noninterest income. (c)Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commissions in scope of ASC 606.

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- 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=120311839&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=120311839&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=121556970&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 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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