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v3.25.2

Business Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Financial Information | The following tables present financial information for each reportable business segment for the three and six months ended June 30, 2025 and 2024.
SEGMENT FINANCIAL INFORMATION
| Three Months Ended June 30, 2025
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Interest income | $ | 826 |  |  | $ | 140 |  |  | $ | 78 |  |  | $ | 1,044 |
Interest expense | 295 |  |  | 26 |  |  | 82 |  |  | 403 |
Funds transfer pricing | 102 |  |  | (56) |  |  | (46) |  |  | — |
Net interest income (expense) | 633 |  |  | 58 |  |  | (50) |  |  | 641 |
Noninterest income | 113 |  |  | 53 |  |  | 23 |  |  | 189 |
Total revenues | 746 |  |  | 111 |  |  | (27) |  |  | 830 |
Noninterest expense (a) | 354 |  |  | 76 |  |  | 61 |  |  | 491 |
Pre-provision net revenue (b) | 392 |  |  | 35 |  |  | (88) |  |  | 339 |
Provision for credit losses | 13 |  |  | 6 |  |  | 11 |  |  | 30 |
Income (loss) before income taxes | 379 |  |  | 29 |  |  | (99) |  |  | 309 |
Income tax expense (benefit) | 90 |  |  | 7 |  |  | (33) |  |  | 64 |
Net income (loss) | $ | 289 |  |  | $ | 22 |  |  | $ | (66) |  |  | $ | 245 |
Average assets | $ | 58,737 |  |  | $ | 9,308 |  |  | $ | 13,913 |  |  | $ | 81,958 |
Depreciation and amortization | 7 |  |  | 2 |  |  | 11 |  |  | 20 |
Expenditures for long-lived assets | 5 |  |  | — |  |  | 2 |  |  | 7 |
| Three Months Ended June 30, 2024
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Interest income | $ | 894 |  |  | $ | 131 |  |  | $ | 68 |  |  | $ | 1,093 |
Interest expense | 352 |  |  | 34 |  |  | 78 |  |  | 464 |
Funds transfer pricing | 95 |  |  | (50) |  |  | (45) |  |  | — |
Net interest income (expense) | 637 |  |  | 47 |  |  | (55) |  |  | 629 |
Noninterest income | 115 |  |  | 53 |  |  | 18 |  |  | 186 |
Total revenues | 752 |  |  | 100 |  |  | (37) |  |  | 815 |
Noninterest expense (a) | 357 |  |  | 73 |  |  | 70 |  |  | 500 |
Pre-provision net revenue (b) | 395 |  |  | 27 |  |  | (107) |  |  | 315 |
Provision for credit losses | 56 |  |  | 1 |  |  | (2) |  |  | 55 |
Income (loss) before income taxes | 339 |  |  | 26 |  |  | (105) |  |  | 260 |
Income tax expense (benefit) | 80 |  |  | 6 |  |  | (30) |  |  | 56 |
Net income (loss) | $ | 259 |  |  | $ | 20 |  |  | $ | (75) |  |  | $ | 204 |
Average assets | $ | 59,684 |  |  | $ | 8,021 |  |  | $ | 14,016 |  |  | $ | 81,721 |
Depreciation and amortization | 3 |  |  | 2 |  |  | 15 |  |  | 20 |
Expenditures for long-lived assets | 8 |  |  | — |  |  | 4 |  |  | 12 |
(a)2025 includes an FDIC special assessment expense credit of $1 million and a $4 million expense credit related to an accrual release in deferred compensation in the Corporate segment. 2024 includes $3 million of restructuring costs and an FDIC special assessment of $2 million in the Corporate segment. (b)Pre-provision net revenue is a non-GAAP measure and is reconciled to income (loss) before income taxes (GAAP) in this table.
| Six Months Ended June 30, 2025 |  |  |  |  |  |  |
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated |  |  |  |  |  |  |
Interest income | $ | 1,639 |  |  | $ | 264 |  |  | $ | 155 |  |  | $ | 2,058 |  |  |  |  |  |  |  |
Interest expense | 585 |  |  | 55 |  |  | 146 |  |  | 786 |  |  |  |  |  |  |  |
Funds transfer pricing | 204 |  |  | (103) |  |  | (101) |  |  | — |  |  |  |  |  |  |  |
Net interest income (expense) | 1,258 |  |  | 106 |  |  | (92) |  |  | 1,272 |  |  |  |  |  |  |  |
Noninterest income | 223 |  |  | 113 |  |  | 34 |  |  | 370 |  |  |  |  |  |  |  |
Total revenues | 1,481 |  |  | 219 |  |  | (58) |  |  | 1,642 |  |  |  |  |  |  |  |
Noninterest expense (a) | 698 |  |  | 151 |  |  | 129 |  |  | 978 |  |  |  |  |  |  |  |
Pre-provision net revenue (b) | 783 |  |  | 68 |  |  | (187) |  |  | 664 |  |  |  |  |  |  |  |
Provision for credit losses | 51 |  |  | 9 |  |  | 10 |  |  | 70 |  |  |  |  |  |  |  |
Income (loss) before income taxes | 732 |  |  | 59 |  |  | (197) |  |  | 594 |  |  |  |  |  |  |  |
Income tax expense (benefit) | 174 |  |  | 14 |  |  | (61) |  |  | 127 |  |  |  |  |  |  |  |
Net income (loss) | $ | 558 |  |  | $ | 45 |  |  | $ | (136) |  |  | $ | 467 |  |  |  |  |  |  |  |
Average assets | $ | 58,727 |  |  | $ | 8,903 |  |  | $ | 13,834 |  |  | $ | 81,464 |  |  |  |  |  |  |  |
Depreciation and amortization | 17 |  |  | 4 |  |  | 20 |  |  | 41 |  |  |  |  |  |  |  |
Expenditures for long-lived assets | 10 |  |  | 1 |  |  | 5 |  |  | 16 |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2024 |  |  |  |  |  |  |
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated |  |  |  |  |  |  |
Interest income | $ | 1,776 |  |  | $ | 246 |  |  | $ | 143 |  |  | $ | 2,165 |  |  |  |  |  |  |  |
Interest expense | 703 |  |  | 65 |  |  | 144 |  |  | 912 |  |  |  |  |  |  |  |
Funds transfer pricing | 190 |  |  | (93) |  |  | (97) |  |  | — |  |  |  |  |  |  |  |
Net interest income (expense) | 1,263 |  |  | 88 |  |  | (98) |  |  | 1,253 |  |  |  |  |  |  |  |
Noninterest income | 225 |  |  | 115 |  |  | 41 |  |  | 381 |  |  |  |  |  |  |  |
Total revenues | 1,488 |  |  | 203 |  |  | (57) |  |  | 1,634 |  |  |  |  |  |  |  |
Noninterest expense (a) | 704 |  |  | 148 |  |  | 163 |  |  | 1,015 |  |  |  |  |  |  |  |
Pre-provision net revenue (b) | 784 |  |  | 55 |  |  | (220) |  |  | 619 |  |  |  |  |  |  |  |
Provision for credit losses | 100 |  |  | 8 |  |  | (3) |  |  | 105 |  |  |  |  |  |  |  |
Income (loss) before income taxes | 684 |  |  | 47 |  |  | (217) |  |  | 514 |  |  |  |  |  |  |  |
Income tax expense (benefit) | 161 |  |  | 11 |  |  | (59) |  |  | 113 |  |  |  |  |  |  |  |
Net income (loss) | $ | 523 |  |  | $ | 36 |  |  | $ | (158) |  |  | $ | 401 |  |  |  |  |  |  |  |
Average assets | $ | 59,516 |  |  | $ | 7,584 |  |  | $ | 14,382 |  |  | $ | 81,482 |  |  |  |  |  |  |  |
Depreciation and amortization | 18 |  |  | 4 |  |  | 29 |  |  | 51 |  |  |  |  |  |  |  |
Expenditures for long-lived assets | 11 |  |  | — |  |  | 10 |  |  | 21 |  |  |  |  |  |  |  |
(a)2025 includes a $4 million expense credit related to an accrual release in deferred compensation, and $5 million in derivative valuation adjustments related to prior Visa Class B share sales in the Corporate segment. 2024 includes $9 million in restructuring costs and an FDIC special assessment of $12 million in the Corporate segment. (b)Pre-provision net revenue is a non-GAAP measure and is reconciled to income (loss) before income taxes (GAAP) in this table. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three and six months ended June 30, 2025 and 2024.
NONINTEREST INCOME DETAIL BY SEGMENT
| Three Months Ended June 30, 2025
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |
Fixed income (a) | $ | — |  |  | $ | 42 |  |  | $ | — |  |  | $ | 42 |
Deposit transactions and cash management | 39 |  |  | — |  |  | 2 |  |  | 41 |
Brokerage, management fees and commissions | 26 |  |  | — |  |  | — |  |  | 26 |
Card and digital banking fees | 16 |  |  | — |  |  | 3 |  |  | 19 |
Other service charges and fees | 13 |  |  | 1 |  |  | — |  |  | 14 |
Trust services and investment management | 12 |  |  | — |  |  | 1 |  |  | 13 |
Mortgage banking income | — |  |  | 10 |  |  | — |  |  | 10 |
Other income (c) | 7 |  |  | — |  |  | 17 |  |  | 24 |
Total noninterest income | $ | 113 |  |  | $ | 53 |  |  | $ | 23 |  |  | $ | 189 |
| Three Months Ended June 30, 2024
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |
Fixed income (a) | $ | — |  |  | $ | 40 |  |  | $ | — |  |  | $ | 40 |
Deposit transactions and cash management | 41 |  |  | 1 |  |  | 2 |  |  | 44 |
Brokerage, management fees and commissions | 25 |  |  | — |  |  | — |  |  | 25 |
Card and digital banking fees | 17 |  |  | — |  |  | 3 |  |  | 20 |
Other service charges and fees | 12 |  |  | 2 |  |  | — |  |  | 14 |
Trust services and investment management | 12 |  |  | — |  |  | — |  |  | 12 |
Mortgage banking income | — |  |  | 10 |  |  | — |  |  | 10 |
Securities gains (losses), net (b) | — |  |  | — |  |  | 1 |  |  | 1 |
Other income (c) | 8 |  |  | — |  |  | 12 |  |  | 20 |
Total noninterest income | $ | 115 |  |  | $ | 53 |  |  | $ | 18 |  |  | $ | 186 |
(a)2025 and 2024 each include $9 million of underwriting, portfolio advisory, and other noninterest income in scope of 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 letter of credit fees and insurance commissions in scope of ASC 606.
| Six Months Ended June 30, 2025
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |
Fixed income (a) | $ | — |  |  | $ | 91 |  |  | $ | — |  |  | $ | 91 |
Deposit transactions and cash management | 76 |  |  | 1 |  |  | 4 |  |  | 81 |
Brokerage, management fees and commissions | 52 |  |  | — |  |  | — |  |  | 52 |
Card and digital banking fees | 32 |  |  | — |  |  | 5 |  |  | 37 |
Other service charges and fees | 25 |  |  | 1 |  |  | — |  |  | 26 |
Trust services and investment management | 24 |  |  | — |  |  | 1 |  |  | 25 |
Mortgage banking income | — |  |  | 18 |  |  | — |  |  | 18 |
Other income (c) | 14 |  |  | 2 |  |  | 24 |  |  | 40 |
Total noninterest income | $ | 223 |  |  | $ | 113 |  |  | $ | 34 |  |  | $ | 370 |
| Six Months Ended June 30, 2024
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |
Fixed income (a) | $ | — |  |  | $ | 92 |  |  | $ | — |  |  | $ | 92 |
Deposit transactions and cash management | 82 |  |  | 2 |  |  | 4 |  |  | 88 |
Brokerage, management fees and commissions | 49 |  |  | — |  |  | — |  |  | 49 |
Card and digital banking fees | 33 |  |  | — |  |  | 5 |  |  | 38 |
Other service charges and fees | 24 |  |  | 2 |  |  | 1 |  |  | 27 |
Trust services and investment management | 23 |  |  | — |  |  | 1 |  |  | 24 |
Mortgage banking income | — |  |  | 18 |  |  | 1 |  |  | 19 |
Securities gains (losses), net (b) | — |  |  | — |  |  | 1 |  |  | 1 |
Other income (c) | 14 |  |  | 1 |  |  | 28 |  |  | 43 |
Total noninterest income | $ | 225 |  |  | $ | 115 |  |  | $ | 41 |  |  | $ | 381 |
(a)2025 and 2024 include $18 million and $20 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of 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 letter of credit fees and insurance commissions in scope of ASC 606. The following tables present a disaggregation of FHN's noninterest expense by major product line and reportable segment for the three and six months ended June 30, 2025 and 2024.
NONINTEREST EXPENSE DETAIL BY SEGMENT
| Three Months Ended June 30, 2025
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest expense: |  |  |  |  |  |  |
Personnel expense | $ | 133 |  |  | $ | 52 |  |  | $ | 97 |  |  | $ | 282 |
Net occupancy expense | 20 |  |  | 2 |  |  | 12 |  |  | 34 |
Computer software | 8 |  |  | 2 |  |  | 24 |  |  | 34 |
Operations services | 4 |  |  | 6 |  |  | 13 |  |  | 23 |
Legal and professional fees | 3 |  |  | 1 |  |  | 13 |  |  | 17 |
Deposit insurance expense | — |  |  | — |  |  | 12 |  |  | 12 |
Advertising and public relations | 2 |  |  | — |  |  | 12 |  |  | 14 |
Equipment expense | 3 |  |  | — |  |  | 8 |  |  | 11 |
Amortization of intangible assets | 9 |  |  | — |  |  | 1 |  |  | 10 |
Contract employment and outsourcing | 1 |  |  | 1 |  |  | 6 |  |  | 8 |
Communications and delivery | 2 |  |  | 1 |  |  | 5 |  |  | 8 |
Other expense | 15 |  |  | 5 |  |  | 18 |  |  | 38 |
Cost allocations | 154 |  |  | 6 |  |  | (160) |  |  | — |
Total noninterest expense | $ | 354 |  |  | $ | 76 |  |  | $ | 61 |  |  | $ | 491 |
| Three Months Ended June 30, 2024
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest expense: |  |  |  |  |  |  |
Personnel expense | $ | 133 |  |  | $ | 48 |  |  | $ | 98 |  |  | $ | 279 |
Net occupancy expense | 19 |  |  | 2 |  |  | 10 |  |  | 31 |
Computer software | 8 |  |  | 1 |  |  | 20 |  |  | 29 |
Operations services | 4 |  |  | 6 |  |  | 13 |  |  | 23 |
Legal and professional fees | 2 |  |  | 1 |  |  | 15 |  |  | 18 |
Deposit insurance expense | — |  |  | — |  |  | 16 |  |  | 16 |
Advertising and public relations | 2 |  |  | — |  |  | 12 |  |  | 14 |
Equipment expense | 3 |  |  | — |  |  | 8 |  |  | 11 |
Amortization of intangible assets | 10 |  |  | — |  |  | 1 |  |  | 11 |
Contract employment and outsourcing | 1 |  |  | 1 |  |  | 12 |  |  | 14 |
Communications and delivery | 3 |  |  | 1 |  |  | 4 |  |  | 8 |
Other expense | 22 |  |  | 6 |  |  | 18 |  |  | 46 |
Cost allocations | 150 |  |  | 7 |  |  | (157) |  |  | — |
Total noninterest expense | $ | 357 |  |  | $ | 73 |  |  | $ | 70 |  |  | $ | 500 |
| Six Months Ended June 30, 2025
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest expense: |  |  |  |  |  |  |
Personnel expense | $ | 268 |  |  | $ | 103 |  |  | $ | 190 |  |  | $ | 561 |
Net occupancy expense | 41 |  |  | 4 |  |  | 24 |  |  | 69 |
Computer software | 15 |  |  | 3 |  |  | 48 |  |  | 66 |
Operations services | 8 |  |  | 11 |  |  | 27 |  |  | 46 |
Legal and professional fees | 6 |  |  | 2 |  |  | 23 |  |  | 31 |
Deposit insurance expense | — |  |  | — |  |  | 25 |  |  | 25 |
Advertising and public relations | 3 |  |  | — |  |  | 21 |  |  | 24 |
Equipment expense | 5 |  |  | 1 |  |  | 16 |  |  | 22 |
Amortization of intangible assets | 17 |  |  | 1 |  |  | 2 |  |  | 20 |
Contract employment and outsourcing | 2 |  |  | 2 |  |  | 12 |  |  | 16 |
Communications and delivery | 5 |  |  | 2 |  |  | 9 |  |  | 16 |
Other expense | 32 |  |  | 9 |  |  | 41 |  |  | 82 |
Cost allocations | 296 |  |  | 13 |  |  | (309) |  |  | — |
Total noninterest expense | $ | 698 |  |  | $ | 151 |  |  | $ | 129 |  |  | $ | 978 |
| Six Months Ended June 30, 2024
(Dollars in millions) | Commercial, Consumer & Wealth |  | Wholesale |  | Corporate |  | Consolidated
Noninterest expense: |  |  |  |  |  |  |
Personnel expense | $ | 272 |  |  | $ | 98 |  |  | $ | 210 |  |  | $ | 580 |
Net occupancy expense | 37 |  |  | 4 |  |  | 21 |  |  | 62 |
Computer software | 16 |  |  | 3 |  |  | 40 |  |  | 59 |
Operations services | 9 |  |  | 11 |  |  | 25 |  |  | 45 |
Legal and professional fees | 5 |  |  | 1 |  |  | 27 |  |  | 33 |
Deposit insurance expense | — |  |  | — |  |  | 40 |  |  | 40 |
Advertising and public relations | 4 |  |  | — |  |  | 18 |  |  | 22 |
Equipment expense | 6 |  |  | 1 |  |  | 15 |  |  | 22 |
Amortization of intangible assets | 19 |  |  | 1 |  |  | 2 |  |  | 22 |
Contract employment and outsourcing | 2 |  |  | 2 |  |  | 24 |  |  | 28 |
Communications and delivery | 5 |  |  | 2 |  |  | 9 |  |  | 16 |
Other expense | 43 |  |  | 10 |  |  | 33 |  |  | 86 |
Cost allocations | 286 |  |  | 15 |  |  | (301) |  |  | — |
Total noninterest expense | $ | 704 |  |  | $ | 148 |  |  | $ | 163 |  |  | $ | 1,015 |

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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