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Business Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Financial Information | The following tables present financial information for each reportable business segment for the three months ended March 31, 2024 and 2023:
SEGMENT FINANCIAL INFORMATION
| Three Months Ended March 31, 2024
(Dollars in millions) | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Net interest income (expense) | $ | 532 |  |  | $ | 153 |  |  | $ | (60) |  |  | $ | 625 |
Provision for credit losses | 28 |  |  | 23 |  |  | (1) |  |  | 50 |
Noninterest income | 105 |  |  | 72 |  |  | 17 |  |  | 194 |
Noninterest expense (a) | 324 |  |  | 104 |  |  | 87 |  |  | 515 |
Income (loss) before income taxes | 285 |  |  | 98 |  |  | (129) |  |  | 254 |
Income tax expense (benefit) | 67 |  |  | 24 |  |  | (34) |  |  | 57 |
Net income (loss) | $ | 218 |  |  | $ | 74 |  |  | $ | (95) |  |  | $ | 197 |
Average assets | $ | 43,131 |  |  | $ | 23,712 |  |  | $ | 14,400 |  |  | $ | 81,243 |
| Three Months Ended March 31, 2023
(Dollars in millions) | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Net interest income (expense) | $ | 561 |  |  | $ | 151 |  |  | $ | (24) |  |  | $ | 688 |
Provision for credit losses | 37 |  |  | 14 |  |  | (1) |  |  | 50 |
Noninterest income | 104 |  |  | 56 |  |  | 11 |  |  | 171 |
Noninterest expense (a) | 313 |  |  | 100 |  |  | 65 |  |  | 478 |
Income (loss) before income taxes | 315 |  |  | 93 |  |  | (77) |  |  | 331 |
Income tax expense (benefit) | 74 |  |  | 23 |  |  | (21) |  |  | 76 |
Net income (loss) | $ | 241 |  |  | $ | 70 |  |  | $ | (56) |  |  | $ | 255 |
Average assets | $ | 41,292 |  |  | $ | 22,623 |  |  | $ | 14,926 |  |  | $ | 78,841 |
(a)2024 includes $5 million of restructuring costs and an FDIC special assessment of $10 million in the Corporate segment. 2023 includes $21 million in merger and integration expenses related to the TD Transaction in the Corporate segment. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three months ended March 31, 2024 and 2023:
NONINTEREST INCOME DETAIL BY SEGMENT
| Three months ended March 31, 2024
(Dollars in millions) | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |
Fixed income (a) | $ | — |  |  | $ | 52 |  |  | $ | — |  |  | $ | 52 |
Deposit transactions and cash management | 39 |  |  | 3 |  |  | 2 |  |  | 44 |
Brokerage, management fees and commissions | 24 |  |  | — |  |  | — |  |  | 24 |
Card and digital banking fees | 16 |  |  | 1 |  |  | 2 |  |  | 19 |
Other service charges and fees | 6 |  |  | 7 |  |  | — |  |  | 13 |
Trust services and investment management | 11 |  |  | — |  |  | — |  |  | 11 |
Mortgage banking income | — |  |  | 9 |  |  | — |  |  | 9 |
Other income (b) | 9 |  |  | — |  |  | 13 |  |  | 22 |
Total noninterest income | $ | 105 |  |  | $ | 72 |  |  | $ | 17 |  |  | $ | 194 |
| Three months ended March 31, 2023
(Dollars in millions) | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |
Fixed income (a) | $ | — |  |  | $ | 39 |  |  | $ | — |  |  | $ | 39 |
Deposit transactions and cash management | 37 |  |  | 3 |  |  | 2 |  |  | 42 |
Brokerage, management fees and commissions | 22 |  |  | — |  |  | — |  |  | 22 |
Card and digital banking fees | 17 |  |  | 1 |  |  | 2 |  |  | 20 |
Other service charges and fees | 6 |  |  | 7 |  |  | — |  |  | 13 |
Trust services and investment management | 11 |  |  | — |  |  | — |  |  | 11 |
Mortgage banking income | — |  |  | 5 |  |  | — |  |  | 5 |
Other income (b) | 11 |  |  | 1 |  |  | 7 |  |  | 19 |
Total noninterest income | $ | 104 |  |  | $ | 56 |  |  | $ | 11 |  |  | $ | 171 |
(a)2024 and 2023 include $10 million of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers." (b) Includes letter of credit 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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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