8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

April 21, 2020

Date of Report (date of earliest event reported)

First Horizon National Corporation

(Exact name of registrant as specified in its charter)

TN	001-15185		62-0803242
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
165 Madison Avenue	Memphis,	Tennessee	38103
(Address of Principal Executive Offices)			(Zip Code)

(901 )523-4444

Registrant's telephone number, including area code

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Exchange on which Registered
$0.625 Par Value Common Capital Stock	FHN	New York Stock Exchange LLC
Depositary Shares, each representing a 1/4,000th interest in	FHN PR A	New York Stock Exchange LLC
a share of Non-Cumulative Perpetual Preferred Stock, Series A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

ITEM 2.02. Results of Operations and Financial Condition.

ITEM 7.01. Regulation FD Disclosure.

Furnished as Exhibit 99.1 is a copy of the First Horizon National Corporation (“FHN”) First Quarter 2020 Financial Supplement and as Exhibit 99.2 is a copy of the Investor Slide Presentation for the quarter ended March 31, 2020, both of which were released today.

The foregoing information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure.” The exhibit speaks as of the date thereof and FHN does not assume any obligation to update in the future the information therein.

Use of Non-GAAP Measures and Regulatory Measures that are not GAAP in the Exhibits

Certain measures are included in the exhibits that are “non-GAAP,” meaning (under U.S. financial reporting rules) they are not presented in accordance with generally accepted accounting principles (“GAAP”) in the U.S. and also are not codified in the U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN’s management and directors through various internal reports.

Presentation of regulatory measures, some of which follow regulatory definitions rather than GAAP, provides a meaningful base for comparability to other financial institutions subject to the same regulations as FHN. Such measures are used by the various banking regulators in reviewing the performance, stability, and capital adequacy of financial institutions they regulate. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in the exhibits include: common equity tier 1 capital, generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk based capital regulations; risk weighted assets (“RWA”), which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios; and pre-provision net revenue (“PPNR”), calculated by adding the provision/(provision credit) for loan losses to income before income taxes, excluding securities gains/(losses).

The non-GAAP measures presented in the exhibits include: return on average tangible common equity (“ROTCE”); tangible common equity (“TCE”) to tangible assets (“TA”); tangible book value ("TBV") per common share; adjusted ROTCE; after-tax PPNR; and various performance measures and ratios adjusted for notable items identified in the exhibits.

Reconciliations of non-GAAP to GAAP measures and presentation of the most comparable GAAP items are presented near the end (immediately before the Glossary) of the Financial Supplement and at the end of the Investor Slide Presentation.

Forward-Looking Statements

This communication contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21 E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") with respect to First Horizon's and IBERIABANK's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results or other developments. The words "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward" and other expressions that indicate future events and trends identify forward-looking statements.

Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Horizon and IBERIABANK, and many of which, with respect to future business decisions and actions, are subject to change and which could cause actual results to differ materially from those contemplated or implied by forward-looking statements or historical performance. Examples of uncertainties and contingencies include factors previously disclosed in First Horizon's and IBERIABANK's respective reports filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the following factors, among others: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between First Horizon and IBERIABANK; the outcome of any legal proceedings that may be instituted against First Horizon or IBERIABANK; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or

other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated; the risk that any announcements relating to the proposed combination could have adverse effects on the market price of the common stock of either or both parties to the combination; the possibility that the anticipated benefits of the transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where First Horizon and IBERIABANK do business; certain restrictions during the pendency of the merger that may impact the parties' ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; First Horizon and IBERIABANK success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by First Horizon's issuance of additional shares of its capital stock in connection with the proposed transaction; the potential impacts on First Horizon’s and IBERIABANK’s businesses of the coronavirus COVID-19 pandemic, including negative impacts from quarantines, market declines and volatility, and changes in customer behavior related to COVID-19; and other factors that may affect future results of First Horizon and IBERIABANK.

We caution that the foregoing list of important factors that may affect future results is not exhaustive. Additional factors that could cause results to differ materially from those contemplated by forward-looking statements can be found in First Horizon's Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC and available in the "Investor Relations" section of First Horizon's website, http://www.FirstHorizon.com, under the heading "SEC Filings" and in other documents First Horizon files with the SEC, including its registration statement on Form S-4 (reg. no. 333-235757) and filings related to that registration statement, and in IBERIABANK's Annual Report on Form 10-K for the year ended December 31, 2019 with the SEC and available in the "Investor Relations" section of IBERIABANK's website, www.IBERIABANK.com, under the heading "Financials & Filings" and in other documents IBERIABANK files with the SEC.

Important Other Information

In connection with the proposed transaction, First Horizon has filed with the SEC a registration statement on Form S-4 (reg. no. 333-235757) to register the shares of First Horizon's capital stock to be issued in connection with the proposed transaction. The registration statement includes a joint proxy statement of First Horizon and IBERIABANK, dated March 19, 2020, addressed to the shareholders of First Horizon and IBERIABANK seeking their approval of the proposed transaction. This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval. INVESTORS AND SHAREHOLDERS OF FIRST HORIZON AND IBERIABANK ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST HORIZON, IBERIABANK AND THE PROPOSED TRANSACTION.

Investors and shareholders are able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about First Horizon and IBERIABANK, without charge, at the SEC's website (http://www.sec.gov). Copies of the registration statement, including the joint proxy statement/prospectus, and the filings with the SEC that will be incorporated by reference in the joint proxy statement/prospectus can also be obtained, without charge, by directing a request to Clyde A. Billings Jr., First Horizon, 165 Madison Avenue, Memphis, TN 38103, telephone (901) 523-5679, or Jefferson G. Parker, IBERIABANK, 200 West Congress Street, Lafayette, LA 70501, telephone (504) 310-7314.

Participants in the Solicitation

First Horizon, IBERIABANK and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the SEC. Information regarding First Horizon's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 16, 2020, its Annual Report on Form 10-K for the fiscal year 2019 which was filed with the SEC on February 28, 2020, and certain of its Current Reports on Form 8-K. Information regarding IBERIABANK's directors and executive officers is available in its Annual Report on Form 10-K for the fiscal year 2019 which was filed with the SEC on March 2, 2020, its amendment to Form 10-K filed on March 16, 2020, and certain of its Current Reports on Form 8-K. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of

their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished pursuant to Items 2.02 and 7.01, are not to be considered “filed” under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and shall not be incorporated by reference into any of FHN’s previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act.

Exhibit #	Description
99.1	First Horizon National Corporation First Quarter 2020 Financial Supplement.
99.2	First Horizon National Corporation Investor Slide Presentation for the quarter ended March 31, 2020.
104	Cover Page Interactive Data File, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		First Horizon National Corporation
Date:	April 21, 2020	By:	/s/ William C. Losch III
		William C. Losch III
		Executive Vice President and Chief Financial Officer

EX-99.1

1

FIRST QUARTER 2020

FINANCIAL SUPPLEMENT

If you need additional information, please contact:

Aarti Bowman, Investor Relations

901-523-4017

aagoorha@firsthorizon.com

FHN TABLE OF CONTENTS

	Page
First Horizon National Corporation Segment Structure	3
Performance Highlights	4
Consolidated Results
Income Statement
Income Statement	7
Other Income and Other Expense	8
Acquisition, Restructuring, and Rebranding Expense	9
Balance Sheet
Period End Balance Sheet	10
Average Balance Sheet	11
Net Interest Income	12
Average Balance Sheet: Yields and Rates	13
Capital Highlights	14
Business Segment Detail
Segment Highlights	15
Regional Banking	16
Fixed Income and Corporate	17
Non-Strategic	18
Asset Quality
Asset Quality: Consolidated	19
Asset Quality: Regional Banking and Corporate	21
Asset Quality: Non-Strategic	22
Non-GAAP to GAAP Reconciliation	23
Glossary of Terms	24

Other Information

This financial supplement contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21 E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") with respect to First Horizon's ("FHN") beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results or other developments. The words "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward" and other expressions that indicate future events and trends identify forward-looking statements.

Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Horizon, and many of which, with respect to future business decisions and actions, are subject to change and which could cause actual results to differ materially from those contemplated or implied by forward-looking statements or historical performance. Those factors include general economic and financial market conditions, including expectations of and actual timing and amount of interest rate movements including the slope of the yield curve, competition, customer and investor responses to these conditions, ability to execute business plans, geopolitical developments, recent and future legislative and regulatory developments, natural disasters, the potential impacts on FHN’s businesses of the coronavirus COVID-19 pandemic, including negative impacts from quarantines, market declines and volatility, and changes in customer behavior related to COVID-19,and items mentioned in this financial supplement and in FHN's most recent earnings release, as well as critical accounting estimates and other factors described in FHN’s recent filings with the SEC. FHN disclaims any obligation to update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements to reflect future events or developments.

Use of Non-GAAP Measures and Regulatory Measures that are not GAAP

Certain measures are included in this financial supplement that are “non-GAAP,” meaning (under U.S. financial reporting rules) they are not presented in accordance with generally accepted accounting principles (“GAAP”) in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN’s management and Board of Directors through various internal reports.

Presentation of regulatory measures, some of which follow regulatory definitions rather than GAAP, provides a meaningful base for comparability to other financial institutions subject to the same regulations as FHN. Such measures are used by the various banking regulators in reviewing the performance, stability, and capital adequacy of financial institutions they regulate. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this financial supplement include: common equity tier 1 capital, generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk based capital regulations; risk weighted assets (“RWA”), which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios; and pre-provision net revenue (“PPNR”), calculated by adding the provision/(provision credit) for loan losses to income before income taxes, excluding securities gains/(losses).

The non-GAAP measures presented in this financial supplement are return on average tangible common equity (“ROTCE”), tangible common equity (“TCE”) to tangible assets (“TA”), and tangible book value ("TBV") per common share.

Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items on page 23 of this financial supplement.

2

FIRST HORIZON NATIONAL CORPORATION SEGMENT STRUCTURE

3

FHN PERFORMANCE HIGHLIGHTS
Significant events impacting FHN
l Effective January 1, 2020 FHN adopted ASU 2016-13, "Measurement of Credit Losses on Financial Instruments," (CECL); The adoption impact was a $106.4 million increase to the allowance for loan losses ("ALLL") and a $24.0 million increase to the reserve for unfunded commitments, resulting in a $96.1 million decrease of retained earnings (net of taxes).
l A sudden, steep decline in the economic forecast associated with the COVID-19 pandemic late in the quarter, and to a lesser extent an increase in loan balances, resulted in provision expense of $145.0 million and an increase in the reserve for unfunded commitments of $9.2 million in 1Q20.
l Application of CECL methodology creates larger immediate impacts on credit loss estimates in unanticipated rapid declines in economic projections when compared to the prior incurred loss estimation methodology.
l CECL methodology also has a larger impact on loan loss provisions when balances increase due to the "life of loan" loss estimation requirement.
l In response to the COVID-19 pandemic, FHN has adapted many operations to help ensure the health and safety of employees and customers.
l Among other things, FHN has implemented remote work policies, branch activities handled by appointment or via drive-through only, as well as additional sick time and child care assistance for employees.
l FHN is proactively reaching out to customers to discuss challenges and solutions, providing line draws and new extensions to existing customers, providing support for small businesses through the Paycheck Protection Program ("PPP") and other stimulus programs, and providing lending and deposit assistance through deferrals and waived fees.
Summary of First Quarter 2020 Notable Items
Segment	Item	Income Statement	Amount Favorable/ (Unfavorable)	Comments
Corporate	Acquisition expenses	Noninterest expense: various	$(5.8) million	Pre-tax acquisition-related expenses largely associated with the pending branch acquisition and merger of equals with IBERIABANK Corporation ("IBKC")
First Quarter 2020 vs. Fourth Quarter 2019

Consolidated								l Diluted EPS of $.04 in 1Q20, down from $.37 in 4Q19 driven by significant increase in provision expense lPPNR of $166.2 million and $167.3 million in 1Q20 and 4Q19 lLoan loss provision of $145 million in 1Q20, up from $10 million in 4Q19 reflecting application of CECL methodology to increase reserves associated with a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic lCharge offs of $7.2 million and $2.8 million in 1Q20 and 4Q19 l30+ delinquencies as a percentage of loans remained consistent l Total revenue down 3% lNII down from lower loan accretion, fewer days in the quarter, and the negative impact of interest rates (including LIBOR and Prime) l Decrease in fee income due to negative deferred compensation income and seasonally lower deposit fees, somewhat mitigated by higher fixed income revenue l NIM of 3.16% in 1Q20 compared to 3.26% in 4Q19; decrease primarily due to lower loan accretion and a decline in LIBOR lExpenses down 5% due to lower deferred compensation, charitable contributions, acquisition, and rebranding expenses, somewhat offset by an increase in the reserve for unfunded commitmentsand higher personnel-related expenses lStrong period-end loan and deposit growth
(Thousands, except per share data)	1Q20		4Q19		Change
Income Statement
Net interest income	$	302,802	$	311,393	(3	)	%
Noninterest income	174,756		183,307		(5	)	%
Total revenues	477,558		494,700		(3	)	%
Provision for loan losses	145,000		10,000		NM
Noninterest expense	311,319		327,447		(5	)	%
Income before income taxes	21,239		157,253		(86	)	%
Provision for income taxes	4,767		35,970		(87	)	%
Net income/(loss)	$	16,472	$	121,283	(86	)	%
PPNR (a)	$	166,214	$	167,256	(1	)	%
Diluted EPS	$	0.04	$	0.37	(89	)	%
Balance Sheet (millions)
Period-end Loans	$	33,378	$	31,061	7		%
Period-end Deposits	$	34,420	$	32,430	6		%
Average Loans	$	30,524	$	30,706	(1	)	%
Average Deposits	32,882		32,777		*
NM - Not Meaningful
* Amount is less than one percent.
(a) Pre-provision net revenue is not a GAAP number but is used in regulatory stress test reporting. The presentation of PPNR in this Financial Supplement follows the regulatory definition.

4

FHN PERFORMANCE HIGHLIGHTS (continued)

First Quarter 2020 vs. Fourth Quarter 2019 (continued)

Regional Banking								lStrong period-end loan growth l Loan growth due to increases in C&I and specialty areas, with particular strength in loans to mortgage companies l Increased draws also contributed to increase in loans in 1Q20 l NII down from lower lower loan accretion, fewer days, and lower rates l    Increase in provision expense driven by the application of CECL methodology to increase reserves associated with a sudden, steep decline in the economic forecast late in the quarter l    Fee income down from seasonally lower NSF fee income and a decline in collections from Capital Bank Financial ("CBF") loans charged off prior to acquisition (under CECL these recoveries are now recognized as a reduction of provision), somewhat offset by an increase in fees from Trust services and investment management l    Expense increase primarily driven by a $9.1 million increase in the expense on unfunded commitments largely associated with the application of CECL methodology with a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic
(Thousands)	1Q20		4Q19		Change
Net interest income	$	300,128	$	310,808	(3	)	%
Noninterest income	81,871		89,553		(9	)	%
Total revenues	381,999		400,361		(5	)	%
Provision for loan losses	145,435		14,370		NM
Noninterest expense	211,013		202,124		4		%
Income before income taxes	$	25,551	$	183,867	(86	)	%
PPNR (a)	170,986		198,237		(14	)	%
Balance Sheet (millions)
Period-end Loans	$	32,496	$	30,112	8		%
Period-end Deposits	$	30,728	$	30,593	*
Average loans	$	29,608	$	29,722	*
Average deposits	30,579		30,413		1		%
NM - Not meaningful
* Amount is less than one percent.
(a) Pre-provision net revenue is not a GAAP number but is used in regulatory stress test reporting. The presentation of PPNR in this Financial Supplement follows the regulatory definition.

Fixed Income								l1Q20 ADR of $1.3 million, compared to ADR of $1.1 million in 4Q19, up 19%; 1Q20 includes elevated levels of commissionable revenues, partially offset by elevated levels of trading losses driven by extreme volatility in March 2020 l NII up $3.7 million; Other product revenue up $2.0 million primarily driven by increases in derivatives and investment advisory l Expense increase driven by increased variable compensation, primarily due to increased commissionable revenues
(Thousands)	1Q20		4Q19		Change
Net interest income	$	10,914	$	7,232	51		%
Noninterest income	95,723		81,185		18		%
Total revenues	106,637		88,417		21		%
Noninterest expense	81,063		62,090		31		%
Income before income taxes	$	25,574	$	26,327	(3	)	%
Fixed income product ADR	$	1,264	$	1,061	19		%

Corporate										l    Lower fee income associated with negative deferred compensation income driven by equity market valuation declines l    Deferred compensation net impact of $1.5 million; $12.8 million decline in fee income, more than offset by a $14.4 million decline in expense l    Expense decrease also driven by $11.0 million of charitable contributions in 4Q19, as well as lower acquisition, rebranding, and restructuring-related expenses relative to 4Q19
(Thousands)	1Q20			4Q19			Change
Net interest income	$	(13,359	)	$	(12,826	)	(4	)	%
Noninterest income	(3,718		)	11,246			NM
Total revenues	(17,077		)	(1,580		)	NM
Noninterest expense	15,449			59,210			(74	)	%
Income before income taxes	$	(32,526	)	$	(60,790	)	46		%
NM - Not meaningful

5

FHN PERFORMANCE HIGHLIGHTS (continued)

First Quarter 2020 vs. Fourth Quarter 2019 (continued)

Non-Strategic										l  Non-Strategic results reflect continuing wind-down of the loan portfolio l   Reduced provision credit associated with additional consumer reserves associated with a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic
(Thousands)	1Q20			4Q19			Change
Net interest income	$	5,119		$	6,179		(17	)	%
Noninterest income	880			1,323			(33	)	%
Total revenues	5,999			7,502			(20	)	%
Provision for loan losses	(435		)	(4,370		)	90		%
Noninterest expense	3,794			4,023			(6	)	%
Income before income taxes	$	2,640		$	7,849		(66	)	%
Balance Sheet
Average loans	$	786		$	852		(8	)	%

Asset Quality							l    Increase in reserves primarily driven by increased reserves associated with a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic and the adoption of ASU 2016-13 (CECL) l  1Q20 activity - Commercial up $132.1 million; Consumer up $5.7 million l  CECL adoption - Commercial up $11.3 million; Consumer up $95.0 million l    Increase in net charge-offs driven by one commercial credit l    NPLs increased $27.6 million, primarily driven by one credit l    Increase in 30+ delinquencies primarily driven by two commercial credits; 30+ delinquencies as a percentage of loans flat
(Thousands)	1Q20		4Q19		Change
Allowance for loan losses	$444,490		$200,307		NM
Allowance / loans %	1.33	%	0.64	%
Net Charge-offs	$7,211		$2,842		NM
Net charge-offs %	0.10	%	0.04	%
Nonperforming Loans (a)	$189,813		$162,165		17	%
NPL %	0.57	%	0.52	%
30+ delinquencies	$62,642		$57,911		8	%
30+ delinquencies %	0.19	%	0.19	%
NM - Not meaningful
(a) Excludes loans held-for-sale.

Capital and Liquidity									lDeclared quarterly dividend of $.15 in 1Q20, up from $.14 in 4Q19 l No share repurchases in 1Q20 and 4Q19 l 1Q20 includes the impact of CECL adoption; amount calculated under the interim final rule to delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period l 1Q20 decrease in risk-based capital ratios largely driven by an increase in risk-weighted assets due to: l Period-end commercial loan growth (primarily loans to mortgage companies) and higher draw activity in March l Market risk assets increase largely driven by spike in VaR due to extreme volatility in March
(millions)	1Q20			4Q19			Change
Common dividends declared (a)	$	46.7		$	43.5		7	%
Preferred dividends declared	$	1.6		$	1.6		*
Share repurchases	$	—		$	—		NM
Capital Ratios (b)
Common Equity Tier 1	8.52		%	9.20		%
Tier 1	9.49		%	10.15		%
Total Capital	10.75		%	11.22		%
Leverage	9.00		%	9.04		%
NM - Not meaningful
* Amount is less than one percent.
(a) 1Q20 common dividends paid April 1, 2020; 4Q19 common dividends paid January 2, 2020.
(b) Regulatory capital ratios calculated under the Basel III risk-based capital rules as phased-in; current quarter is an estimate.

6

FHN CONSOLIDATED INCOME STATEMENT

Quarterly, Unaudited

																1Q20 Changes vs.
(Dollars in thousands, except per share data)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Interest income	$	378,368		$	404,142		$	407,494		$	412,089		$	400,615		(6	)	%	(6	)	%
Less: interest expense	75,566			92,749			106,818			108,479			106,107			(19	)	%	(29	)	%
Net interest income	302,802			311,393			300,676			303,610			294,508			(3	)	%	3		%
Provision/(provision credit) for loan losses (a)	145,000			10,000			15,000			13,000			9,000			NM			NM
Net interest income after provision for loan losses	157,802			301,393			285,676			290,610			285,508			(48	)	%	(45	)	%
Noninterest income:
Fixed income (b)	95,635			80,981			77,645			66,414			53,749			18		%	78		%
Deposit transactions and cash management	30,290			33,289			34,379			32,374			31,621			(9	)	%	(4	)	%
Brokerage, management fees and commissions	15,405			14,557			14,157			14,120			12,633			6		%	22		%
Trust services and investment management	7,195			7,434			7,163			7,888			7,026			(3	)	%	2		%
Bankcard income	7,253			7,984			7,017			6,355			6,952			(9	)	%	4		%
Bank-owned life insurance	4,589			5,255			4,427			5,126			4,402			(13	)	%	4		%
Securities gains/(losses), net	25			(3		)	97			49			31			NM			(19	)	%
Other (c)	14,364			33,810			26,850			25,667			24,631			(58	)	%	(42	)	%
Total noninterest income	174,756			183,307			171,735			157,993			141,045			(5	)	%	24		%
Adjusted gross income after provision for loan losses	332,558			484,700			457,411			448,603			426,553			(31	)	%	(22	)	%
Noninterest expense:
Employee compensation, incentives, and benefits (d) (e)	183,470			178,761			167,022			171,643			177,925			3		%	3		%
Legal fees (e)	1,823			2,709			4,854			6,486			2,831			(33	)	%	(36	)	%
Professional fees (e)	6,996			16,718			14,910			11,291			12,299			(58	)	%	(43	)	%
Occupancy (e)	19,563			19,972			18,887			20,719			20,693			(2	)	%	(5	)	%
Computer software	16,027			15,390			15,191			15,001			15,139			4		%	6		%
Contract employment and outsourcing	4,936			3,160			3,256			3,078			3,371			56		%	46		%
Operations services	11,692			11,171			11,634			11,713			11,488			5		%	2		%
Equipment rentals, depreciation, and maintenance	8,552			8,597			8,197			8,375			8,829			(1	)	%	(3	)	%
FDIC premium expense	6,742			5,806			5,564			4,247			4,273			16		%	58		%
Advertising and public relations (e)	7,456			14,897			6,646			5,574			7,242			(50	)	%	3		%
Communications and courier	5,528			5,597			5,650			7,380			6,453			(1	)	%	(14	)	%
Amortization of intangible assets	5,308			6,206			6,206			6,206			6,216			(14	)	%	(15	)	%
Other (c)	33,226			38,463			39,655			28,681			19,331			(14	)	%	72		%
Total noninterest expense	311,319			327,447			307,672			300,394			296,090			(5	)	%	5		%
Income before income taxes	21,239			157,253			149,739			148,209			130,463			(86	)	%	(84	)	%
Provision for income taxes	4,767			35,970			35,796			34,467			27,058			(87	)	%	(82	)	%
Net income/(loss)	16,472			121,283			113,943			113,742			103,405			(86	)	%	(84	)	%
Net income attributable to noncontrolling interest	2,852			2,910			2,883			2,852			2,820			(2	)	%	1		%
Net income/(loss) attributable to controlling interest	13,620			118,373			111,060			110,890			100,585			(88	)	%	(86	)	%
Preferred stock dividends	1,550			1,550			1,550			1,550			1,550			*			*
Net income/(loss) available to common shareholders	$	12,070		$	116,823		$	109,510		$	109,340		$	99,035		(90	)	%	(88	)	%
Common Stock Data
EPS	$	0.04		$	0.38		$	0.35		$	0.35		$	0.31		(89	)	%	(87	)	%
Basic shares (thousands)	311,597			311,250			311,888			314,063			317,435			*			(2	)	%
Diluted EPS	$	0.04		$	0.37		$	0.35		$	0.35		$	0.31		(89	)	%	(87	)	%
Diluted shares (thousands)	313,170			313,353			313,805			315,786			319,581			*			(2	)	%
Key Ratios & Other
Return on average assets (annualized) (f)	0.15		%	1.12		%	1.08		%	1.11		%	1.03		%
Return on average common equity (“ROCE”) (annualized) (f)	1.05		%	9.97		%	9.50		%	9.79		%	9.09		%
Return on average tangible common equity (“ROTCE”) (annualized) (f) (g)	1.59		%	15.03		%	14.49		%	15.12		%	14.17		%
Fee income to total revenue (f)	36.59		%	37.05		%	36.34		%	34.22		%	32.38		%
Efficiency ratio (f)	65.19		%	66.19		%	65.14		%	65.08		%	67.99		%
Average full time equivalent employees	4,969			5,005			5,116			5,287			5,524

NM - Not meaningful

* Amount is less than one percent.

(a) 1Q20 increase in provision expense primarily associated with a sudden, steep decline in the economic forecast attributableto the COVID-19 pandemic.

(b) 2Q19 includes $1.1 million of gains from the reversal of previous valuation adjustments due to the sales and payoff of TRUPS loans.

(c) Refer to the Other Income and Other Expense table on page 8 for additional information.

(d) 1Q20 and 4Q19 include $(10.3) million and $3.9 million, respectively, of deferred compensation expense.

(e) Refer to the Acquisition, Restructuring, and Rebranding expense tables on page 9 for additional information about variability in quarterly balances.

(f) See Glossary of Terms for definitions of Key Ratios.

(g) This non-GAAP measure is reconciled to ROCE (GAAP) in the Non-GAAP to GAAP reconciliation on page 23 of this financial supplement.

7

FHN OTHER INCOME AND OTHER EXPENSE

Quarterly, Unaudited

																1Q20 Changes vs.
(Thousands)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Other Income
ATM and interchange fees	$	4,212		$	4,529		$	4,507		$	4,262		$	3,241		(7	)	%	30		%
Dividend income	1,130			1,508			1,556			1,809			2,313			(25	)	%	(51	)	%
Electronic banking fees	1,030			1,101			1,288			1,267			1,271			(6	)	%	(19	)	%
Letter of credit fees	1,462			1,561			1,400			1,253			1,368			(6	)	%	7		%
Mortgage banking	2,431			3,578			2,019			2,572			1,886			(32	)	%	29		%
Deferred compensation (a)	(9,507		)	3,339			472			1,938			5,474			NM			NM
Insurance commissions	789			358			577			566			624			NM			26		%
Other service charges	5,219			5,755			5,738			5,624			3,869			(9	)	%	35		%
Gain/(loss) on extinguishment of debt	—			65			(6		)	—			(1		)	NM			NM
Other (b)	7,598			12,016			9,299			6,376			4,586			(37	)	%	66		%
Total	$	14,364		$	33,810		$	26,850		$	25,667		$	24,631		(58	)	%	(42	)	%
Other Expense
Litigation and regulatory matters	$	13		$	(394	)	$	11,534		$	(8,230	)	$	13		NM			*
Tax credit investments	346			460			407			267			675			(25	)	%	(49	)	%
Travel and entertainment	2,709			3,652			2,849			2,906			2,712			(26	)	%	*
Employee training and dues	1,341			1,430			1,003			1,251			1,457			(6	)	%	(8	)	%
Customer relations (c)	2,004			2,794			3,165			1,540			1,599			(28	)	%	25		%
Miscellaneous loan costs	1,094			1,227			1,017			857			1,027			(11	)	%	7		%
Supplies	2,411			2,104			1,668			1,342			1,804			15		%	34		%
OREO	(184		)	1,478			342			25			(366		)	NM			50		%
Other insurance and taxes	2,679			2,515			2,475			2,495			2,694			7		%	(1	)	%
Non-service components of net periodic pension and post retirement cost	2,508			327			986			559			432			NM			NM
Expense/(Credit) on unfunded commitments (d)	9,230			(790		)	(634		)	(489		)	396			NM			NM
Other (e)	9,075			23,660			14,843			26,158			6,888			(62	)	%	32		%
Total	$	33,226		$	38,463		$	39,655		$	28,681		$	19,331		(14	)	%	72		%

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not meaningful

* Amount is less than one percent.

(a) Amounts driven by market conditions and are mirrored by changes in deferred compensation expense which is included in employee compensation expense; 1Q20 decrease driven by equity market valuations.

(b) Increase beginning in 2Q19 due in large part to higher fees from derivative sales; 4Q19 and 3Q19 include an increase in collections from CBF loans charged off prior to acquisition, under ASU 2016-13 (CECL) these collections are no longer recognized as part of fee income, but are accounted for as reductions of provision; 3Q19 includes $1.0 million of gains on the sales of buildings.

(c) 3Q19 increase driven by higher business development costs.

(d) 1Q20 increase largely associated with a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic.

(e) 4Q19 includes $11.0 million of charitable contributions; 3Q19 includes $4.0 million of valuation adjustments associated with derivatives related to prior sales of Visa Class B shares; Refer to the Acquisition, Restructuring, and Rebranding expense tables on page 9 for additional information about variability in quarterly balances.

8

ACQUISITION EXPENSE

Quarterly, Unaudited

					1Q20 Changes vs.
IBKC ACQUISITION EXPENSE	1Q20		4Q19		4Q19
(Thousands)
Legal and professional fees (a)	$	662	$	8,228	(92	)	%
Employee compensation, incentives, and benefits (b)	689		3,079		(78	)	%
Miscellaneous expense (e)	254		64		NM
Total IBKC acquisition expense	$	1,605	$	11,371	(86	)	%

														1Q20 Changes vs.
OTHER ACQUISITION EXPENSE	1Q20			4Q19			3Q19			2Q19		1Q19		4Q19			1Q19
(Thousands)
Legal and professional fees (a)	$	799		$	1,494		$	3,507		$	4,478	$	1,867	(47	)	%	(57	)	%
Employee compensation, incentives, and benefits (b)	396			1,035			1,473			1,472		1,517		(62	)	%	(74	)	%
Occupancy (c)	(25		)	(94		)	(76		)	1,505		118		73		%	NM
Contract employment and outsourcing (d)	306			35			223			17		—		NM			NM
Miscellaneous expense (e)	822			217			1,022			79		1,069		NM			(23	)	%
All other expense (f)	1,874			1,638			2,840			1,096		1,089		14		%	72		%
Total other acquisition expense	$	4,172		$	4,325		$	8,989		$	8,647	$	5,660	(4	)	%	(26	)	%

NM - Not meaningful

(a) Primarily comprised of fees for legal, accounting, and merger consultants.

(b) Primarily comprised of fees for severance and retention.

(c) Primarily relates to fees associated with lease exit accruals.

(d) Primarily relates to fees for temporary assistance for merger and integration activities.

(e) Consists of fees for operations services, communications and courier, equipment rentals, deprecation and maintenance, supplies, travel and entertainment, computer software, and advertising and public relations.

(f) Primarily relates to contract termination charges, internal technology development costs, costs of shareholder matters and asset impairments, as well as other miscellaneous expenses.

RESTRUCTURING EXPENSE

Quarterly, Unaudited

												1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19	1Q19	4Q19			1Q19
(Thousands)
Legal and professional fees	$	7		$	989		$	6,488		$4,242	$4,295	(99	)	%	NM
Employee compensation, incentives, and benefits	57			259			1,182			2,557	6,505	(78	)	%	(99	)	%
Occupancy	2			57			(128		)	72	817	(96	)	%	NM
All other expense (a)	(103		)	(148		)	300			11,797	535	30		%	NM
Total restructuring expense	$	(37	)	$	1,157		$	7,842		$18,668	$12,152	NM			NM

NM - Not meaningful

(a) Primarily relates to costs associated with asset impairments.

REBRANDING EXPENSE

Quarterly, Unaudited

									1Q20 Changes vs.
	1Q20		4Q19		3Q19		2Q19		4Q19
(Thousands)
Legal and professional fees	$	265	$	1,016	$	879	$	882	(74	)	%
Advertising and public relations	116		6,360		663		423		(98	)	%
Supplies	53		862		105		325		(94	)	%
Miscellaneous expense	92		315		145		38		(71	)	%
All other expense (a)	5		561		1,322		7,406		(99	)	%
Total rebranding expense	$	531	$	9,114	$	3,114	$	9,074	(94	)	%

(a) Primarily relates to costs associated with fixed asset impairments and technology-related expenses.

9

FHN CONSOLIDATED PERIOD-END BALANCE SHEET

Quarterly, Unaudited 

																1Q20 Changes vs.
(Thousands)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Assets:
Investment securities	$	4,554,907		$	4,455,403		$	4,425,845		$	4,425,609		$	4,626,322		2		%	(2	)	%
Loans held-for-sale (a)	595,601			593,790			554,843			447,106			594,662			*			*
Loans, net of unearned income	33,378,303			31,061,111			31,260,833			29,712,810			27,990,048			7		%	19		%
Federal funds sold	30,050			46,536			48,747			50,705			167,602			(35	)	%	(82	)	%
Securities purchased under agreements to resell	562,435			586,629			697,214			602,919			474,679			(4	)	%	18		%
Interest-bearing cash (b)	670,525			482,405			364,412			593,180			1,013,254			39		%	(34	)	%
Trading securities	1,877,514			1,346,207			1,395,043			1,668,942			1,681,727			39		%	12		%
Total earning assets	41,669,335			38,572,081			38,746,937			37,501,271			36,548,294			8		%	14		%
Cash and due from banks	537,564			633,728			749,719			596,081			570,589			(15	)	%	(6	)	%
Fixed income receivables (c)	180,569			40,114			209,732			147,574			46,782			NM			NM
Goodwill	1,432,787			1,432,787			1,432,787			1,432,787			1,432,787			*			*
Other intangible assets, net	124,892			130,200			136,406			142,612			148,818			(4	)	%	(16	)	%
Premises and equipment, net	447,812			455,006			451,600			454,271			484,494			(2	)	%	(8	)	%
Other real estate owned ("OREO")	15,837			17,838			20,181			19,286			23,396			(11	)	%	(32	)	%
Allowance for loan losses (d)	(444,490		)	(200,307		)	(193,149		)	(192,749		)	(184,911		)	NM			NM
Derivative assets	696,250			183,115			250,786			185,521			118,128			NM			NM
Other assets	2,536,822			2,046,338			1,912,685			1,885,116			1,910,626			24		%	33		%
Total assets	$	47,197,378		$	43,310,900		$	43,717,684		$	42,171,770		$	41,099,003		9		%	15		%
Liabilities and Equity:
Deposits:
Consumer interest	$	13,813,999		$	13,866,920		$	13,670,204		$	13,705,969		$	13,707,310		*			1		%
Commercial interest	5,867,755			6,153,075			6,211,539			6,660,056			6,729,999			(5	)	%	(13	)	%
Market-indexed (e)	5,798,088			3,980,589			3,794,105			3,855,545			4,062,531			46		%	43		%
Total interest-bearing deposits	25,479,842			24,000,584			23,675,848			24,221,570			24,499,840			6		%	4		%
Noninterest-bearing deposits	8,939,808			8,428,951			8,268,812			8,086,748			7,963,048			6		%	12		%
Total deposits	34,419,650			32,429,535			31,944,660			32,308,318			32,462,888			6		%	6		%
Federal funds purchased	476,013			548,344			936,837			666,007			339,360			(13	)	%	40		%
Securities sold under agreements to repurchase	788,595			716,925			735,226			764,308			745,788			10		%	6		%
Trading liabilities	452,611			505,581			719,777			558,347			429,669			(10	)	%	5		%
Other short-term borrowings (f)	4,060,673			2,253,045			2,276,139			865,347			140,832			80		%	NM
Term borrowings (g)	792,751			791,368			1,195,096			1,186,646			1,177,926			*			(33	)	%
Fixed income payables (c)	91,274			49,535			66,842			66,369			100,290			84		%	(9	)	%
Derivative liabilities	234,984			67,480			83,530			88,485			107,123			NM			NM
Other liabilities	825,247			873,079			763,534			741,862			748,606			(5	)	%	10		%
Total liabilities	42,141,798			38,234,892			38,721,641			37,245,689			36,252,482			10		%	16		%
Equity:
Common stock	194,914			194,668			194,487			195,299			197,101			*			(1	)	%
Capital surplus	2,938,670			2,931,451			2,925,309			2,941,696			2,983,948			*			(2	)	%
Undivided profits (h)	1,667,105			1,798,442			1,725,846			1,660,520			1,595,568			(7	)	%	4		%
Accumulated other comprehensive loss, net	(136,164		)	(239,608		)	(240,654		)	(262,489		)	(321,151		)	(43	)	%	(58	)	%
Preferred stock	95,624			95,624			95,624			95,624			95,624			*			*
Noncontrolling interest (i)	295,431			295,431			295,431			295,431			295,431			*			*
Total equity	5,055,580			5,076,008			4,996,043			4,926,081			4,846,521			*			4		%
Total liabilities and equity	$	47,197,378		$	43,310,900		$	43,717,684		$	42,171,770		$	41,099,003		9		%	15		%

NM - Not meaningful

*Amount is less than one percent.

(a) 1Q20 includes $494.8 million of SBA and USDA loans, $95.9 million of mortgage loans, and $4.9 million of other consumer loans.

(b) Includes excess balances held at Fed.

(c) Period-end balances fluctuate based on the level of pending unsettled trades.

(d) Effective 1/1/2020 FHN adopted ASU 2016-13, "Measurement of Credit Losses on Financial Instruments," (CECL) which resulted in an increase to the allowance for loan losses of $103.4 million; the remaining 1Q20 increase reflects increased reserves established in 1Q20 associated with a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic.

(e) Market-indexed deposits are tied to an index not administered by FHN and are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits; 1Q20 increase used to support commercial loan growth, including loans to mortgage companies.

(f) Balance fluctuates largely based on the level of FHLB borrowings as a result of loan demand and deposit levels; 1Q20 increase used to support commercial loan growth, including loans to mortgage companies.

(g) In 4Q19 $400 million of First Horizon Bank senior capital notes matured.

(h) Effective 1/1/2020 FHN adopted ASU 2016-13 (CECL) which resulted in a net decrease to undivided profits of $96.1 million.

(i) Consists of preferred stock of subsidiaries.

10

FHN CONSOLIDATED AVERAGE BALANCE SHEET

Quarterly, Unaudited 

																1Q20 Changes vs.
(Thousands)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Assets:
Earning assets:
Loans, net of unearned income:
Commercial, financial, and industrial (C&I) (a)	$	19,469,572		$	19,739,937		$	18,965,829		$	17,952,866		$	16,428,088		(1	)	%	19		%
Commercial real estate (a)	4,421,913			4,263,597			4,269,425			3,910,466			3,959,592			4		%	12		%
Consumer real estate (b)	6,134,390			6,194,134			6,283,488			6,310,039			6,410,184			(1	)	%	(4	)	%
Credit card and other	498,290			508,651			497,646			498,790			515,436			(2	)	%	(3	)	%
Total loans, net of unearned income (c)	30,524,165			30,706,319			30,016,388			28,672,161			27,313,300			(1	)	%	12		%
Loans held-for-sale (d)	590,458			581,810			455,239			606,685			670,401			1		%	(12	)	%
Investment securities:
U.S. treasuries	100			100			100			99			99			*			1		%
U.S. government agencies	4,330,905			4,327,651			4,289,719			4,461,712			4,494,814			*			(4	)	%
States and municipalities	64,668			54,146			49,025			41,911			33,400			19		%	94		%
Corporate bonds	50,570			50,493			50,414			64,720			65,194			*			(22	)	%
Other	20,409			15,933			18,837			14,609			10,249			28		%	99		%
Total investment securities	4,466,652			4,448,323			4,408,095			4,583,051			4,603,756			*			(3	)	%
Trading securities	1,831,492			1,263,633			1,391,405			1,564,201			1,443,969			45		%	27		%
Other earning assets:
Federal funds sold	10,192			9,700			21,225			47,664			113,043			5		%	(91	)	%
Securities purchased under agreements to resell	816,794			645,979			550,641			593,412			428,687			26		%	91		%
Interest-bearing cash (e)	548,036			586,495			545,784			648,927			1,717,696			(7	)	%	(68	)	%
Total other earning assets	1,375,022			1,242,174			1,117,650			1,290,003			2,259,426			11		%	(39	)	%
Total earning assets	38,787,789			38,242,259			37,388,777			36,716,101			36,290,852			1		%	7		%
Allowance for loan losses (f)	(353,794		)	(195,863		)	(196,586		)	(188,243		)	(182,332		)	81		%	94		%
Cash and due from banks	609,701			609,750			596,323			590,622			610,470			*			*
Fixed income receivables	111,474			75,917			75,938			64,958			55,393			47		%	NM
Premises and equipment, net	450,931			450,950			451,567			478,607			485,462			*			(7	)	%
Derivative assets	254,736			202,624			160,341			83,050			55,288			26		%	NM
Other assets	3,691,075			3,500,153			3,464,541			3,497,912			3,568,059			5		%	3		%
Total assets	$	43,551,912		$	42,885,790		$	41,940,901		$	41,243,007		$	40,883,192		2		%	7		%
Liabilities and equity:
Interest-bearing liabilities:
Interest-bearing deposits:
Consumer interest	$	13,760,968		$	13,718,820		$	13,670,745		$	13,597,195		$	13,390,692		*			3		%
Commercial interest	6,006,364			6,145,681			6,321,835			6,599,793			6,577,476			(2	)	%	(9	)	%
Market-indexed (g)	4,448,587			4,370,025			4,143,012			3,818,949			4,734,295			2		%	(6	)	%
Total interest-bearing deposits	24,215,919			24,234,526			24,135,592			24,015,937			24,702,463			*			(2	)	%
Federal funds purchased	746,686			1,163,701			886,445			519,497			370,868			(36	)	%	NM
Securities sold under agreements to repurchase	777,692			701,213			722,815			691,490			688,765			11		%	13		%
Trading liabilities	750,520			585,889			501,203			548,653			375,169			28		%	NM
Other short-term borrowings (h)	1,686,690			844,558			535,585			650,387			114,474			NM			NM
Term borrowings (i)	791,043			928,214			1,185,853			1,183,205			1,172,618			(15	)	%	(33	)	%
Total interest-bearing liabilities	28,968,550			28,458,101			27,967,493			27,609,169			27,424,357			2		%	6		%
Noninterest-bearing deposits	8,666,087			8,542,521			8,235,806			7,947,607			7,795,015			1		%	11		%
Fixed income payables	54,900			34,510			33,059			25,579			21,978			59		%	NM
Derivative liabilities	16,171			59,114			19,632			61,715			94,943			(73	)	%	(83	)	%
Other liabilities	843,810			751,676			722,570			729,776			737,664			12		%	14		%
Total liabilities	38,549,518			37,845,922			36,978,560			36,373,846			36,073,957			2		%	7		%
Equity:
Common stock	194,827			194,574			194,930			196,319			198,460			*			(2	)	%
Capital surplus	2,935,372			2,928,463			2,934,276			2,964,824			3,015,017			*			(3	)	%
Undivided profits (j)	1,686,986			1,766,211			1,695,417			1,629,474			1,572,177			(4	)	%	7		%
Accumulated other comprehensive loss, net	(205,846		)	(240,435		)	(253,337		)	(312,511		)	(367,474		)	(14	)	%	44		%
Preferred stock	95,624			95,624			95,624			95,624			95,624			*			*
Noncontrolling interest (k)	295,431			295,431			295,431			295,431			295,431			*			*
Total equity	5,002,394			5,039,868			4,962,341			4,869,161			4,809,235			(1	)	%	4		%
Total liabilities and equity	$	43,551,912		$	42,885,790		$	41,940,901		$	41,243,007		$	40,883,192		2		%	7		%

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not meaningful

*Amount is less than one percent.

(a) In 3Q19, FHN prospectively reclassified approximately $410 million of regional banking market investor CRE loans from the C&I portfolio to the CRE portfolio. The reclassification did not have an impact on FHN’s consolidated balance sheet and the impact to the consolidated financial statements from the effect on the allowance for loan losses is immaterial.

(b) In 1Q20, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability.

(c) Includes loans on nonaccrual status.

(d) 1Q20 includes $491.3 million of SBA and USDA loans, $94.1 million of mortgage loans, and $5.1 million of other consumer loans.

(e) Includes excess balances held at Fed.

(f) Effective 1/1/2020 FHN adopted ASU 2016-13, "Measurement of Credit Losses on Financial Instruments," (CECL) which resulted in an increase to the allowance for loan losses of $103.4 million.

(g) Market-indexed deposits are tied to an index not administered by FHN and are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits.

(h) Balance fluctuates largely based on the level of FHLB borrowings as a result of loan demand and deposit levels; 1Q20 increase used to support commercial loan growth, including loans to mortgage companies.

(i) In 4Q19 $400 million of First Horizon Bank senior capital notes matured.

(j) Effective 1/1/2020 FHN adopted ASU 2016-13 (CECL) which resulted in a net decrease to undivided profits of $96.1 million.

(k) Consists of preferred stock of subsidiaries.

11

FHN CONSOLIDATED NET INTEREST INCOME (a)

Quarterly, Unaudited 

																1Q20 Changes vs.
(Thousands)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Interest Income:
Loans, net of unearned income (b)	$	328,526		$	356,176		$	357,724		$	354,067		$	334,167		(8	)	%	(2	)	%
Loans held-for-sale	6,899			7,053			6,069			8,128			9,877			(2	)	%	(30	)	%
Investment securities:
U.S. government agencies	25,127			26,500			26,322			29,075			30,107			(5	)	%	(17	)	%
States and municipalities	542			478			431			347			362			13		%	50		%
Corporate bonds	591			595			593			713			712			(1	)	%	(17	)	%
Other	1,732			1,352			1,634			1,278			895			28		%	94		%
Total investment securities	27,992			28,925			28,980			31,413			32,076			(3	)	%	(13	)	%
Trading securities	13,338			9,507			10,645			13,332			13,712			40		%	(3	)	%
Other earning assets:
Federal funds sold	27			51			141			326			733			(47	)	%	(96	)	%
Securities purchased under agreements to resell	2,303			2,467			2,800			3,301			2,336			(7	)	%	(1	)	%
Interest-bearing cash	1,536			2,359			2,700			3,689			10,209			(35	)	%	(85	)	%
Total other earning assets	3,866			4,877			5,641			7,316			13,278			(21	)	%	(71	)	%
Interest income	$	380,621		$	406,538		$	409,059		$	414,256		$	403,110		(6	)	%	(6	)	%
Interest Expense:
Interest-bearing deposits:
Consumer interest	$	18,337		$	22,957		$	26,670		$	25,666		$	24,641		(20	)	%	(26	)	%
Commercial interest	19,061			24,366			28,112			29,927			28,153			(22	)	%	(32	)	%
Market-indexed (c)	17,091			20,090			23,809			23,409			29,416			(15	)	%	(42	)	%
Total interest-bearing deposits	54,489			67,413			78,591			79,002			82,210			(19	)	%	(34	)	%
Federal funds purchased	2,214			5,026			4,898			3,142			2,287			(56	)	%	(3	)	%
Securities sold under agreements to repurchase	2,623			2,843			3,301			3,580			3,496			(8	)	%	(25	)	%
Trading liabilities	3,292			2,987			2,943			3,756			2,816			10		%	17		%
Other short-term borrowings	5,027			3,989			3,333			4,316			961			26		%	NM
Term borrowings (d)	7,921			10,491			13,752			14,683			14,337			(24	)	%	(45	)	%
Interest expense	75,566			92,749			106,818			108,479			106,107			(19	)	%	(29	)	%
Net interest income - tax equivalent basis	305,055			313,789			302,241			305,777			297,003			(3	)	%	3		%
Fully taxable equivalent adjustment	(2,253		)	(2,396		)	(1,565		)	(2,167		)	(2,495		)	6		%	10		%
Net interest income	$	302,802		$	311,393		$	300,676		$	303,610		$	294,508		(3	)	%	3		%

NM - Not meaningful

(a) Net interest income adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes.

(b) Includes interest on loans in nonaccrual status.

(c) Market-indexed deposits are tied to an index not administered by FHN and are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits.

(d) In 4Q19 $400 million of First Horizon Bank senior capital notes matured.

12

FHN CONSOLIDATED AVERAGE BALANCE SHEET: YIELDS AND RATES

Quarterly, Unaudited 

	1Q20		4Q19		3Q19		2Q19		1Q19
Assets:
Earning assets (a)
Loans, net of unearned income (b)
Commercial loans	4.33	%	4.63	%	4.78	%	5.05	%	5.08	%
Consumer loans	4.33		4.51		4.55		4.65		4.59
Total loans, net of unearned income (c)	4.33		4.60		4.73		4.95		4.96
Loans held-for-sale	4.67		4.85		5.33		5.36		5.89
Investment securities:
U.S. government agencies	2.32		2.45		2.45		2.61		2.68
States and municipalities	3.35		3.53		3.51		3.31		4.33
Corporate bonds	4.67		4.71		4.71		4.41		4.37
Other	33.76		33.73		34.52		34.73		34.56
Total investment securities	2.51		2.60		2.63		2.74		2.79
Trading securities	2.91		3.01		3.06		3.41		3.80
Other earning assets:
Federal funds sold	1.05		2.10		2.64		2.74		2.63
Securities purchased under agreements to resell	1.13		1.52		2.02		2.23		2.21
Interest-bearing cash	1.13		1.60		1.96		2.28		2.41
Total other earning assets	1.13		1.56		2.00		2.27		2.38
Interest income/total earning assets	3.94	%	4.22	%	4.35	%	4.52	%	4.49	%
Liabilities:
Interest-bearing liabilities:
Interest-bearing deposits:
Consumer interest	0.54	%	0.66	%	0.77	%	0.76	%	0.75	%
Commercial interest	1.28		1.57		1.76		1.82		1.74
Market-indexed (d)	1.55		1.82		2.28		2.46		2.52
Total interest-bearing deposits	0.90		1.10		1.29		1.32		1.35
Federal funds purchased	1.19		1.71		2.19		2.43		2.50
Securities sold under agreements to repurchase	1.36		1.61		1.81		2.08		2.06
Trading liabilities	1.76		2.02		2.33		2.75		3.04
Other short-term borrowings	1.20		1.87		2.47		2.66		3.40
Term borrowings (e)	4.01		4.52		4.64		4.96		4.89
Interest expense/total interest-bearing liabilities	1.05		1.29		1.52		1.58		1.57
Net interest spread	2.89	%	2.93	%	2.83	%	2.94	%	2.92	%
Effect of interest-free sources used to fund earning assets	0.27		0.33		0.38		0.40		0.39
Net interest margin	3.16	%	3.26	%	3.21	%	3.34	%	3.31	%
Total loan yield	4.33	%	4.60	%	4.73	%	4.95	%	4.96	%
Total deposit cost	0.67	%	0.82	%	0.96	%	0.99	%	1.03	%

Yields are adjusted to a FTE basis assuming a statutory federal income tax rate of 21 percent and, where applicable, state income taxes.

(a) Earning assets yields are expressed net of unearned income.

(b) Includes loan fees and cash basis interest income.

(c) Includes loans on nonaccrual status.

(d) Market-indexed deposits are tied to an index not administered by FHN and are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits.

(e) Rates are expressed net of unamortized debenture cost for term borrowings; In 4Q19 $400 million of First Horizon Bank senior capital notes matured.

13

FHN CAPITAL HIGHLIGHTS

Quarterly, Unaudited 

																1Q20 Changes vs.
(Dollars and shares in thousands)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19		1Q19
Common equity tier 1 capital (a) (b) (c)	$	3,421,763		$	3,408,936		$	3,326,059		$	3,270,484		$	3,239,249		*		6		%
Tier 1 capital (a) (b) (c)	3,812,203			3,760,450			3,679,158			3,620,001			3,583,577			1	%	6		%
Total capital (a) (c)	4,319,384			4,154,885			4,065,306			4,009,116			3,963,901			4	%	9		%
Risk-weighted assets (“RWA”) (a) (b) (d)	40,169,550			37,045,782			36,913,347			35,341,740			33,656,950			8	%	19		%
Average assets for leverage (a) (b)	42,348,418			41,583,446			40,660,442			40,022,187			39,717,387			2	%	7		%
Common equity tier 1 ratio (a) (b) (c)	8.52		%	9.20		%	9.01		%	9.25		%	9.62		%
Tier 1 ratio (a) (b) (c)	9.49		%	10.15		%	9.97		%	10.24		%	10.65		%
Total capital ratio (a) (c)	10.75		%	11.22		%	11.01		%	11.34		%	11.78		%
Leverage ratio (a) (b) (c)	9.00		%	9.04		%	9.05		%	9.04		%	9.02		%
Total equity to total assets (c)	10.71		%	11.72		%	11.43		%	11.68		%	11.79		%
Tangible common equity/tangible assets (“TCE/TA”) (c) (e)	6.81		%	7.48		%	7.20		%	7.29		%	7.27		%
Period-end shares outstanding (f)	311,863			311,469			311,180			312,478			315,361			*		(1	)	%
Cash dividends declared per common share	$	0.15		$	0.14		$	0.14		$	0.14		$	0.14		7	%	7		%
Book value per common share (c)	$	14.96		$	15.04		$	14.80		$	14.51		$	14.13
Tangible book value per common share (c) (e)	$	9.96		$	10.02		$	9.76		$	9.47		$	9.11
Market capitalization (millions) (g)	$	2,513.6		$	5,157.9		$	5,041.1		$	4,665.3		$	4,408.7

Certain previously reported amounts have been reclassified to agree with current presentation.

* Amount is less than one percent.

(a) Current quarter is an estimate.

(b) See Glossary of Terms for definition.

(c) 1Q20 includes the impact of CECL adoption; amount calculated under the interim final rule to delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period.

(d) 1Q20 increase in risk-weighted assets due to period-end commercial loan growth (primarily loans to mortgage companies), higher draw activity in March, and increased market risk assets for Fixed Income.

(e) TCE/TA and Tangible book value per common share are non-GAAP measures and are reconciled to Total equity to total assets (GAAP) and to Book value per common share (GAAP), respectively, in the Non-GAAP to GAAP reconciliation on page 23 of this financial supplement.

(f) Decreases largely attributable to shares repurchased under share repurchase programs.

(g) 1Q20 decrease driven by a sharp decline in FHN's share price attributable to market uncertainty associated with the COVID-19 pandemic.

14

FHN BUSINESS SEGMENT HIGHLIGHTS

Quarterly, Unaudited 

																1Q20 Changes vs.
(Thousands)	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Regional Banking
Net interest income	$	300,128		$	310,808		$	302,483		$	297,449		$	286,023		(3	)	%	5		%
Noninterest income	81,871			89,553			85,776			81,474			73,029			(9	)	%	12		%
Total revenues	381,999			400,361			388,259			378,923			359,052			(5	)	%	6		%
Provision for loan losses (a)	145,435			14,370			20,471			17,776			13,442			NM			NM
Noninterest expense (b)	211,013			202,124			192,427			192,354			198,569			4		%	6		%
Income before income taxes	25,551			183,867			175,361			168,793			147,041			(86	)	%	(83	)	%
Provision for income taxes	4,388			43,285			41,984			39,759			34,109			(90	)	%	(87	)	%
Net income	$	21,163		$	140,582		$	133,377		$	129,034		$	112,932		(85	)	%	(81	)	%
Fixed Income
Net interest income	$	10,914		$	7,232		$	5,311		$	6,171		$	7,332		51		%	49		%
Noninterest income (c)	95,723			81,185			77,809			65,622			53,807			18		%	78		%
Total revenues	106,637			88,417			83,120			71,793			61,139			21		%	74		%
Noninterest expense (d)	81,063			62,090			67,576			55,534			50,533			31		%	60		%
Income before income taxes	25,574			26,327			15,544			16,259			10,606			(3	)	%	NM
Provision/(benefit) for income taxes	6,099			6,362			3,708			3,840			2,457			(4	)	%	NM
Net income	$	19,475		$	19,965		$	11,836		$	12,419		$	8,149		(2	)	%	NM
Corporate
Net interest income/(expense)	$	(13,359	)	$	(12,826	)	$	(13,339	)	$	(7,146	)	$	(7,914	)	(4	)	%	(69	)	%
Noninterest income (e) (f)	(3,718		)	11,246			7,359			9,401			13,353			NM			NM
Total revenues	(17,077		)	(1,580		)	(5,980		)	2,255			5,439			NM			NM
Noninterest expense (e) (g)	15,449			59,210			43,217			56,873			41,779			(74	)	%	(63	)	%
Income/(loss) before income taxes	(32,526		)	(60,790		)	(49,197		)	(54,618		)	(36,340		)	46		%	10		%
Provision/ (benefit) for income taxes	(6,372		)	(15,616		)	(11,881		)	(13,525		)	(11,771		)	59		%	46		%
Net income/(loss)	$	(26,154	)	$	(45,174	)	$	(37,316	)	$	(41,093	)	$	(24,569	)	42		%	(6	)	%
Non-Strategic
Net interest income	$	5,119		$	6,179		$	6,221		$	7,136		$	9,067		(17	)	%	(44	)	%
Noninterest income (h)	880			1,323			791			1,496			856			(33	)	%	3		%
Total revenues	5,999			7,502			7,012			8,632			9,923			(20	)	%	(40	)	%
Provision/(provision credit) for loan losses (a)	(435		)	(4,370		)	(5,471		)	(4,776		)	(4,442		)	90		%	90		%
Noninterest expense (i)	3,794			4,023			4,452			(4,367		)	5,209			(6	)	%	(27	)	%
Income before income taxes	2,640			7,849			8,031			17,775			9,156			(66	)	%	(71	)	%
Provision for income taxes	652			1,939			1,985			4,393			2,263			(66	)	%	(71	)	%
Net income	$	1,988		$	5,910		$	6,046		$	13,382		$	6,893		(66	)	%	(71	)	%
Total Consolidated
Net interest income	$	302,802		$	311,393		$	300,676		$	303,610		$	294,508		(3	)	%	3		%
Noninterest income	174,756			183,307			171,735			157,993			141,045			(5	)	%	24		%
Total revenues	477,558			494,700			472,411			461,603			435,553			(3	)	%	10		%
Provision/(provision credit) for loan losses (a)	145,000			10,000			15,000			13,000			9,000			NM			NM
Noninterest expense	311,319			327,447			307,672			300,394			296,090			(5	)	%	5		%
Income before income taxes	21,239			157,253			149,739			148,209			130,463			(86	)	%	(84	)	%
Provision for income taxes	4,767			35,970			35,796			34,467			27,058			(87	)	%	(82	)	%
Net income	$	16,472		$	121,283		$	113,943		$	113,742		$	103,405		(86	)	%	(84	)	%

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not meaningful    

* Amount is less than one percent.

(a) 1Q20 increasein provision expense primarily associated with a sudden, steep decline in the economic forecast attributableto the COVID-19 pandemic.

(b) 1Q20 includes a $9.1 million increase in the expense on unfunded commitments due to a sudden, steep decline in the economic forecast attributableto the COVID-19 pandemic.

(c) 1Q20 includes elevated levels of commissionable revenues, partially offset by elevated levels of trading losses driven by extreme volatility in March 2020.

(d) 3Q19 includes a $7.5 million unfavorable adjustment associated with the net impact of the resolution of legal matters.

(e) Refer to the Deferred Compensation table at the bottom of the Corporate section on page 17 for additional information about the variability in quarterly balances.

(f) 1Q19 includes a $1.8 million negative valuation adjustment on HFS consumer loans included in the Non-Strategic segment.

(g) Refer to the Acquisition, Restructuring, and Rebranding expense tables on page 9 for additional information about variability in quarterly balances; 4Q19 includes $11.0 million of charitable contributions; 3Q19 includes $4.0 million of valuation adjustments associated with derivatives related to prior sales of Visa Class B shares.

(h) 2Q19 includes $1.1 million of gains from the reversal of previous valuation adjustments due to the sales and payoff of TRUPS loans.

(i) 2Q19 includes an $8.3 million expense reversal related to the resolution of legal matters.

15

FHN REGIONAL BANKING

Quarterly, Unaudited 

											1Q20 Changes vs.
	1Q20		4Q19		3Q19		2Q19		1Q19		4Q19			1Q19
Income Statement (thousands)
Net interest income	$	300,128	$	310,808	$	302,483	$	297,449	$	286,023	(3	)	%	5		%
Provision for loan losses (a)	145,435		14,370		20,471		17,776		13,442		NM			NM
Noninterest income:
NSF / Overdraft fees (b)	10,920		13,322		13,699		12,348		11,579		(18	)	%	(6	)	%
Cash management fees	9,289		9,201		9,561		8,026		8,857		1		%	5		%
Debit card income	4,305		4,659		4,749		4,960		5,372		(8	)	%	(20	)	%
Other	4,298		4,456		4,574		5,274		4,195		(4	)	%	2		%
Total deposit transactions and cash management	28,812		31,638		32,583		30,608		30,003		(9	)	%	(4	)	%
Brokerage, management fees and commissions	15,405		14,558		14,156		14,118		12,630		6		%	22		%
Trust services and investment management	7,213		7,452		7,190		7,902		7,056		(3	)	%	2		%
Bankcard income	7,150		7,879		7,028		6,594		7,039		(9	)	%	2		%
Other service charges	5,152		5,691		5,650		5,460		3,711		(9	)	%	39		%
Miscellaneous revenue (c)	18,139		22,335		19,169		16,792		12,590		(19	)	%	44		%
Total noninterest income	81,871		89,553		85,776		81,474		73,029		(9	)	%	12		%
Noninterest expense:
Employee compensation, incentives, and benefits	79,019		74,466		73,713		76,752		81,796		6		%	(3	)	%
Other (d)	131,994		127,658		118,714		115,602		116,773		3		%	13		%
Total noninterest expense	211,013		202,124		192,427		192,354		198,569		4		%	6		%
Income before income taxes	$	25,551	$	183,867	$	175,361	$	168,793	$	147,041	(86	)	%	(83	)	%
PPNR (e)	170,986		198,237		195,832		186,569		160,483		(14	)	%	7		%
Balance Sheet (millions)
Average loans	$	29,608	$	29,722	$	28,958	$	27,533	$	26,107	*			13		%
Average other earning assets	48		53		47		47		39		(9	)	%	23		%
Total average earning assets	29,656		29,775		29,005		27,580		26,146		*			13		%
Total average deposits	30,579		30,413		30,044		29,954		29,590		1		%	3		%
Total period-end deposits	30,728		30,593		30,060		30,272		30,354		*			1		%
Total period-end assets	35,108		32,889		33,149		31,333		29,537		7		%	19		%
Key Statistics
Return on average assets (quarters are annualized) (f)	0.26%		1.72%		1.67%		1.71%		1.59%
Return on allocated equity (f) (g)	2.80%		18.19%		17.56%		17.43%		15.59%
Fee income to total revenue (f)	21.43%		22.37%		22.09%		21.50%		20.34%
Efficiency ratio (f)	55.24%		50.49%		49.56%		50.76%		55.30%
Net interest margin (h)	4.10%		4.17%		4.16%		4.35%		4.47%
Net interest spread	3.65%		3.77%		3.82%		3.99%		3.98%
Loan average yield	4.24%		4.50%		4.68%		4.88%		4.86%
Deposit average rate	0.59%		0.73%		0.86%		0.89%		0.88%
Regional banking net charge-offs/(recoveries)	$	8,119	$	5,886	$	17,074	$	7,841	$	5,540	38		%	47		%
Financial center locations (i)	269		269		270		292		292		*			(8	)	%

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not meaningful    

* Amount is less than one percent

(a) 1Q20 increase in provision expense primarily associated with a sudden, steep decline in the economic forecast attributableto the COVID-19 pandemic.

(b) Variability is driven by seasonality and changes in consumer behavior.

(c) Increase beginning in 2Q19 due in large part to higher fees from derivative sales; 4Q19 and 3Q19 include an increase in collections from CBF loans charged off prior to acquisition, under ASU 2016-13 (CECL) these collections are no longer recognized as part of fee income, but are accounted for as reductions of provision.

(d) 1Q20 includes a $9.1 million increase in the expense on unfunded commitments due to a sudden, steep decline in the economic forecast attributableto the COVID-19 pandemic;4Q19 increase due in large part to higher strategic investments in technology and advertising.

(e) Pre-provision net revenue is not a GAAP number but is used in regulatory stress test reporting. The presentation of PPNR in this Financial Supplement follows the regulatory definition.

(f) See Glossary of Terms for definitions of Key Ratios.

(g) Segment equity is allocated based on an internal allocation methodology.

(h) Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent, and, where applicable, state income taxes.

(i) 3Q19 decrease driven by restructuring, repositioning, and efficiency initiatives.

16

FHN FIXED INCOME

Quarterly, Unaudited

																1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Income Statement (thousands)
Net interest income	$	10,914		$	7,232		$	5,311		$	6,171		$	7,332		51		%	49		%
Noninterest income:
Fixed income product revenue (a)	78,354			65,772			63,646			54,533			44,472			19		%	76		%
Other	17,369			15,413			14,163			11,089			9,335			13		%	86		%
Total noninterest income	95,723			81,185			77,809			65,622			53,807			18		%	78		%
Noninterest expense (b)	81,063			62,090			67,576			55,534			50,533			31		%	60		%
Income before income taxes	$	25,574		$	26,327		$	15,544		$	16,259		$	10,606		(3	)	%	NM
Fixed income product average daily revenue	$	1,264		$	1,061		$	994		$	866		$	729		19		%	73		%
Balance Sheet (millions)
Average trading inventory	$	1,831		$	1,263		$	1,390		$	1,563		$	1,443		45		%	27		%
Average loans held-for-sale	491			477			367			528			571			3		%	(14	)	%
Average other earning assets	949			829			709			670			491			14		%	93		%
Total average earning assets	3,271			2,569			2,466			2,761			2,505			27		%	31		%
Total period-end assets	3,965			2,987			3,323			3,232			3,094			33		%	28		%
Key Statistics
Return on average assets (b)	2.08		%	2.65		%	1.63		%	1.59		%	1.16		%
Return on allocated equity (b) (c)	37.12		%	39.92		%	23.61		%	24.64		%	16.56		%
Efficiency ratio (b)	76.02		%	70.22		%	81.30		%	77.35		%	82.65		%
Net interest margin (d)	1.36		%	1.15		%	0.88		%	0.92		%	1.19		%

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not meaningful

(a) 1Q20 includes elevated levels of commissionable revenues, partially offset by elevated levels of trading losses driven by extreme volatility in March 2020.

(b) 3Q19 includes a $7.5 million unfavorable adjustment associated with the net impact of the resolution of legal matters.

(b) See Glossary of Terms for definitions of Key Ratios.

(c) Segment equity is allocated based on an internal allocation methodology.

(d) Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent, and, where applicable, state income taxes.

FHN CORPORATE

Quarterly, Unaudited

																1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Income Statement (thousands)
Net interest income/(expense)	$	(13,359	)	$	(12,826	)	$	(13,339	)	$	(7,146	)	$	(7,914	)	(4	)	%	(69	)	%
Noninterest income excluding securities gains/(losses) (a)	(3,743		)	11,249			7,262			9,352			13,322			NM			NM
Securities gains/(losses), net	25			(3		)	97			49			31			NM			(19	)	%
Noninterest expense (b)	15,449			59,210			43,217			56,873			41,779			(74	)	%	(63	)	%
Income/(loss) before income taxes	$	(32,526	)	$	(60,790	)	$	(49,197	)	$	(54,618	)	$	(36,340	)	46		%	10		%
Average Balance Sheet (millions)
Average investment securities	$	4,446		$	4,432		$	4,389		$	4,568		$	4,594		*			(3	)	%
Total earning assets	$	5,010		$	4,980		$	4,916		$	5,295		$	6,463		1		%	(22	)	%
Deferred Compensation (thousands)
Other Income	$	(9,507	)	$	3,339		$	472		$	1,938		$	5,474		NM			NM
Employee compensation, incentives, and benefits	$	(10,548	)	$	3,846		$	567		$	2,150		$	6,221		NM			NM

Estimated effective duration of securities portfolio 1.3 years in 1Q20 compared to 3.0 years in 4Q19

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not Meaningful    

* Amount is less than one percent.

(a) Variability in quarterly balances driven by 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; 3Q19 includes $1.0 million of gains on the sales of buildings.

(b) Refer to the Acquisition, Restructuring, and Rebranding expense tables on page 9 for additional information about variability in quarterly balances; 4Q19 includes $11.0 million of charitable contributions; 3Q19 includes $4.0 million of valuation adjustments associated with derivatives related to prior sales of Visa Class B shares.

17

FHN NON-STRATEGIC

Quarterly, Unaudited

																1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19			1Q19
Income Statement (thousands)
Net interest income	$	5,119		$	6,179		$	6,221		$	7,136		$	9,067		(17	)	%	(44	)	%
Provision/(provision credit) for loan losses (a)	(435		)	(4,370		)	(5,471		)	(4,776		)	(4,442		)	90		%	90		%
Noninterest income (b)	880			1,323			791			1,496			856			(33	)	%	3		%
Noninterest expense (c)	3,794			4,023			4,452			(4,367		)	5,209			(6	)	%	(27	)	%
Income before income taxes	$	2,640		$	7,849		$	8,031		$	17,775		$	9,156		(66	)	%	(71	)	%
Average Balance Sheet (millions)
Loans	$	786		$	852		$	935		$	1,011		$	1,087		(8	)	%	(28	)	%
Other assets	53			68			66			77			88			(22	)	%	(40	)	%
Total assets	839			920			1,001			1,088			1,175			(9	)	%	(29	)	%
Key Statistics
Return on average assets (d)	0.95		%	2.55		%	2.40		%	4.93		%	2.38		%
Return on allocated equity (d) (e)	15.76		%	37.12		%	32.45		%	64.83		%	26.22		%
Fee income to total revenue (d)	14.67		%	17.64		%	11.28		%	17.33		%	8.63		%
Efficiency ratio (d)	63.24		%	53.63		%	63.49		%	NM			52.49		%
Net interest margin (f)	2.42		%	2.68		%	2.47		%	2.65		%	3.11		%
Net charge-offs/(recoveries)	$	(908	)	$	(3,044	)	$	(2,474	)	$	(2,679	)	$	(1,027	)	70		%	12		%

Certain previously reported amounts have been reclassified to agree with current presentation.

NM - Not meaningful

(a) 1Q20 increase in provision expense primarily associated with a sudden, steep decline in the economic forecast attributableto the COVID-19 pandemic.

(b) 2Q19 includes $1.1 million of gains from the reversal of previous valuation adjustments due to the sales and payoff of TRUPS loans.

(c) 2Q19 includes an $8.3 million expense reversal related to the settlement of litigation matters.

(d) See Glossary of Terms for definitions of Key Ratios.

(e) Segment equity is allocated based on an internal allocation methodology.

(f) Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent, and, where applicable, state income taxes.

18

FHN ASSET QUALITY: CONSOLIDATED

Quarterly, Unaudited 

																					1Q20 Changes vs.
(Dollars in thousands)	1Q20				4Q19				3Q19				2Q19				1Q19				4Q19	1Q19
Allowance for Loan Losses Walk-Forward
Beginning reserve	$	200,307			$	193,149			$	192,749			$	184,911			$	180,424			4%	11%
ASU Adoption 2016-13 (a)	106,394				—				—				—				—				NM	NM
Provision/(provision credit) for loan losses (a)	145,000				10,000				15,000				13,000				9,000				NM	NM
Charge-offs	(13,453			)	(11,646			)	(24,337			)	(12,223			)	(10,527			)	(16)%	(28)%
Recoveries	6,242				8,804				9,737				7,061				6,014				(29)%	4%
Ending balance	$	444,490			$	200,307			$	193,149			$	192,749			$	184,911			NM	NM
Reserve for unfunded commitments (b)	39,303				6,101				6,890				7,524				8,014				NM	NM
Total allowance for loan losses plus reserve for unfunded commitments	$	483,793			$	206,408			$	200,039			$	200,273			$	192,925			NM	NM
Allowance for Loan Losses (a) (c)
Regional Banking	$	413,552			$	182,730			$	174,246			$	170,849			$	160,914			NM	NM
Non-Strategic	30,938				17,577				18,903				21,900				23,997				76%	29%
Total allowance for loan losses	$	444,490			$	200,307			$	193,149			$	192,749			$	184,911			NM	NM
Nonperforming Assets
Regional Banking
Nonperforming loans (d)	$	142,916			$	113,187			$	118,506			$	145,265			$	115,977			26%	23%
OREO	10,278				12,347				13,408				13,251				16,698				(17)%	(38)%
Total Regional Banking	$	153,194			$	125,534			$	131,914			$	158,516			$	132,675			22%	15%
Non-Strategic
Nonperforming loans	$	45,595			$	47,651			$	52,346			$	57,654			$	63,960			(4)%	(29)%
Nonperforming loans held-for-sale after fair value adjustments	3,611				4,047				4,199				4,514				5,219				(11)%	(31)%
OREO	3,603				3,313				4,408				3,342				3,978				9%	(9)%
Total Non-Strategic	$	52,809			$	55,011			$	60,953			$	65,510			$	73,157			(4)%	(28)%
Corporate
Nonperforming loans	$	1,302			$	1,327			$	1,643			$	1,667			$	1,687			(2)%	(23)%
Total nonperforming assets	$	207,305			$	181,872			$	194,510			$	225,693			$	207,519			14%	*
Net Charge-Offs
Regional Banking	$	8,119			$	5,886			$	17,074			$	7,841			$	5,540			38%	47%
Non-Strategic	(908			)	(3,044			)	(2,474			)	(2,679			)	(1,027			)	70%	12%
Total net charge-offs/(recoveries)	$	7,211			$	2,842			$	14,600			$	5,162			$	4,513			NM	60%
Consolidated Key Ratios (e)
30+ Delinq. % (f)	0.19		%		0.19		%		0.23		%		0.20		%		0.23		%
NPL %	0.57				0.52				0.55				0.69				0.65
NPA %	0.61				0.57				0.61				0.74				0.72
Net charge-offs % (g)	0.10				0.04				0.19				0.07				0.07
Allowance / loans % (a)	1.33				0.64				0.62				0.65				0.66
Allowance / NPL (a)	2.34		x		1.24		x		1.12		x		0.94		x		1.02		x
Allowance / NPA (a)	2.18		x		1.13		x		1.01		x		0.87		x		0.91		x
Allowance / net charge-offs	15.33		x		17.76		x		3.33		x		9.31		x		10.10		x
Other
Loans past due 90 days or more and still accruing (h)	$	20,340			$	28,343			$	27,182			$	28,663			$	30,896			(28)%	(34)%
Guaranteed portion (h)	5,165				6,417				6,028				5,628				5,725				(20)%	(10)%
Period-end loans, net of unearned income (millions)	33,378				31,061				31,261				29,713				27,990				7%	19%
30+ delinquencies (thousands)	$	62,642			$	57,911			$	70,675			$	58,861			$	63,693			8%	(2)%

NM - Not meaningful

* Amount is less than one percent.

(a) 1Q20 increase in ALLL and allowance ratios is due to a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic and the adoption of CECL.

(b) 1Q20 increase is due to the adoption of CECL ($24.0 million) and a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic ($9.2 million).

(c) In 2Q19, the Home Builder Finance ("HBF") portfolio was retrospectively reclassified from the Regional Banking segment to the Non-Strategic segment.

(d) 3Q19 decrease in nonperforming loans was primarily driven by one mortgage warehouse lending relationship that converted to the underlying collateral.

(e) See Glossary of Terms for definitions of Consolidated Key Ratios.

(f) 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest.

(g) 3Q19 increase in charge-offs as a percentage of loans was primarily driven by two credits.

(h) Includes loans held-for-sale.

19

FHN ASSET QUALITY: CONSOLIDATED

Quarterly, Unaudited 

																1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19	1Q19
Key Portfolio Details
C&I (a)
Period-end loans ($ millions)	$	22,124		$	20,051		$	20,294		$	19,054		$	17,176		10%	29%
30+ Delinq. % (b) (c)	0.08		%	0.05		%	0.11		%	0.05		%	0.07		%
NPL % (d)	0.43			0.37			0.38			0.56			0.44
Charge-offs % (qtr. annualized) (e)	0.12			0.07			0.32			0.14			0.06
Allowance / loans % (f)	1.15		%	0.61		%	0.56		%	0.61		%	0.60		%
Allowance / net charge-offs	10.88		x	9.25		x	1.87		x	4.77		x	11.26		x
Commercial Real Estate (a)
Period-end loans ($ millions)	$	4,640		$	4,337		$	4,229		$	3,861		$	3,947		7%	18%
30+ Delinq. % (b)	0.01		%	0.02		%	0.04		%	0.07		%	0.04		%
NPL %	0.05			0.04			0.05			0.07			0.07
Charge-offs % (qtr. annualized)	0.00			NM			0.02			0.02			0.04
Allowance / loans % (f)	1.03		%	0.83		%	0.84		%	0.85		%	0.87		%
Allowance / net charge-offs	NM			NM			47.70		x	39.25		x	22.50		x
Consumer Real Estate (g)
Period-end loans ($ millions)	$	6,119		$	6,177		$	6,245		$	6,303		$	6,361		(1)%	(4)%
30+ Delinq. % (b) (h)	0.66		%	0.70		%	0.68		%	0.66		%	0.70		%
NPL %	1.49			1.39			1.50			1.50			1.63
Charge-offs % (qtr. annualized)	NM			NM			NM			NM			NM
Allowance / loans % (f)	2.01		%	0.46		%	0.49		%	0.50		%	0.54		%
Allowance / net charge-offs	NM			NM			NM			NM			NM
Credit Card and Other
Period-end loans ($ millions)	$	495		$	496		$	493		$	495		$	506		*	(2)%
30+ Delinq. % (b)	0.99		%	0.93		%	0.94		%	1.06		%	1.20		%
NPL %	0.07			0.07			0.07			0.09			0.09
Charge-offs % (qtr. annualized)	2.12			2.29			2.10			2.17			2.44
Allowance / loans % (f)	3.91		%	2.68		%	2.58		%	2.46		%	2.50		%
Allowance / net charge-offs	1.83		x	1.14		x	1.21		x	1.13		x	1.01		x

NM - Not meaningful

* Amount is less than one percent.

(a) In 3Q19, FHN reclassified approximately $410 million of regional banking market investor CRE loans from the C&I portfolio to the CRE portfolio. The reclassification did not have an impact on FHN’s consolidated balance sheet and the impact to the consolidated financial statements from the effect on the allowance for loan losses is immaterial. No adjustments were made to prior periods as the impact of the reclassification, including the effect on the allowance for loan losses was deemed to be immaterial in all periods.

(b) 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest.

(c) 1Q20 increase in delinquencies as a percentage of total loans was primarily driven by two credits; 3Q19 increase in delinquencies as a percentages of total loans was primarily driven by one credit.

(d) 1Q20 increase in NPLs as a percentage of total loans was primarily driven by one credit; 2Q19 increase in NPLs as a percentage of total loans was primarily driven by one credit.

(e) 1Q20 increase in charge-offs as a percentage of total loans was primarily driven by one credit; 3Q19 increase in charge-offs as a percentage of loans was primarily driven by two credits; 2Q19 increase in charge-offs as a percentage of total loans was primarily driven by one credit.

(f) 1Q20 increase in allowance as a percentage of total loans was driven by a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic and the adoption of CECL.

(g) In 1Q20, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability.

(h) 3Q19 increase in delinquencies as a percentage of total loans was primarily driven by two credits.

20

FHN ASSET QUALITY: REGIONAL BANKING

Quarterly, Unaudited 

																1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19	1Q19
Total Regional Banking (a)
Period-end loans ($ millions)	$	32,591		$	30,213		$	30,345		$	28,711		$	26,898		8%	21%
30+ Delinq. % (c) (d)	0.15		%	0.14		%	0.18		%	0.15		%	0.17		%
NPL % (e)	0.44			0.37			0.39			0.51			0.43
Charge-offs % (qtr. annualized) (f)	0.11			0.08			0.23			0.11			0.09
Allowance / loans % (g)	1.27		%	0.60		%	0.57		%	0.60		%	0.60		%
Allowance / net charge-offs	12.66		x	7.82		x	2.57		x	5.43		x	7.16		x
Key Portfolio Details
C&I (a) (b)
Period-end loans ($ millions)	$	21,798		$	19,721		$	19,962		$	18,710		$	16,812		11%	30%
30+ Delinq. % (c) (d)	0.07		%	0.05		%	0.11		%	0.05		%	0.06		%
NPL % (e)	0.44			0.38			0.37			0.56			0.43
Charge-offs % (qtr. annualized) (f)	0.12			0.07			0.33			0.14			0.06
Allowance / loans % (g)	1.12		%	0.62		%	0.57		%	0.61		%	0.61		%
Allowance / net charge-offs	10.45		x	9.23		x	1.87		x	4.73		x	10.98
Commercial Real Estate (a) (b)
Period-end loans ($ millions)	$	4,608		$	4,292		$	4,172		$	3,787		$	3,867		7%	19%
30+ Delinq. % (c)	0.01		%	0.02		%	0.04		%	0.07		%	0.04		%
NPL %	0.05			0.04			0.05			0.07			0.07
Charge-offs % (qtr. annualized)	—			NM			0.02			0.02			0.04
Allowance / loans % (g)	1.02		%	0.79		%	0.79		%	0.77		%	0.80		%
Allowance / net charge-offs	NM			NM			43.95			34.79			20.16
Consumer Real Estate (a) (h)
Period-end loans ($ millions)	$	5,717		$	5,738		$	5,763		$	5,776		$	5,784		*	(1)%
30+ Delinq. % (c)	0.51		%	0.50		%	0.48		%	0.50		%	0.53		%
NPL % (i)	0.78			0.65			0.74			0.66			0.71
Charge-offs % (qtr. annualized)	NM			NM			NM			NM			0.04
Allowance / loans % (g)	1.80		%	0.23		%	0.26		%	0.25		%	0.26		%
Allowance / net charge-offs	NM			NM			NM			NM			6.20
Credit Card and Other
Period-end loans ($ millions)	$	468		$	462		$	448		$	438		$	435		1%	8%
30+ Delinq. % (c)	0.90		%	0.69		%	0.65		%	0.66		%	0.64		%
NPL %	0.02			0.01			0.01			0.01			0.01
Charge-offs % (qtr. annualized)	2.14			2.32			2.02			1.84			2.10
Allowance / loans % (g)	4.06		%	2.87		%	2.83		%	2.77		%	2.87		%
Allowance / net charge-offs	1.89		x	1.21		x	1.40		x	1.51		x	1.37		x
ASSET QUALITY: CORPORATE
Consumer Real Estate (h)
Period-end loans ($ millions)	$	31		$	31		$	34		$	35		$	38		*	(18)%
30+ Delinq. % (c)	5.39		%	5.29		%	5.00		%	4.03		%	4.54		%
NPL %	4.25			4.22			4.90			4.79			4.49
Charge-offs % (qtr. annualized)	NM			NM			NM			NM			NM
Allowance / loans %	NM			NM			NM			NM			NM
Allowance / net charge-offs	NM			NM			NM			NM			NM

NM - Not meaningful

* Amount is less than one percent.

(a) In 2Q19, the HBF portfolio was retrospectively reclassified through 2Q18 from the Regional Banking segment to the Non-Strategic segment.

(b) In 3Q19, FHN prospectively reclassified approximately $410 million of regional banking market investor CRE loans from the C&I portfolio to the CRE portfolio. The reclassification did not have an impact on FHN’s consolidated balance sheet and the impact to the consolidated financial statements from the effect on the allowance for loan losses was immaterial.

(c) 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest.

(d) 1Q20 increase in delinquencies as a percentage of total loans was primarily driven by two credits; 3Q19 increase in delinquencies as a percentage of total loans was primarily driven by one credit.

(e) 1Q20 increase in NPLs as a percentage of total loans was primarily driven by one credit; 2Q19 increase in NPLs as a percentage of total loans was primarily driven by one credit.

(f) 1Q20 charge-offs as a percentage of total loans was primarily driven by one credit; 3Q19 increase in charge-offs as a percentage of loans was primarily driven by two credits; 2Q19 increase in charge-offs as a percentage of total loans was primarily driven by one credit.

(g) 1Q20 increase in allowance as a percentage of total loans was driven by a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic and the adoption of CECL.

(h) In 1Q20, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability.

(i) 1Q20 increase in NPL as a percentage of total loans as primarily driven by one credit.

21

FHN ASSET QUALITY: NON-STRATEGIC

Quarterly, Unaudited 

																1Q20 Changes vs.
	1Q20			4Q19			3Q19			2Q19			1Q19			4Q19	1Q19
Total Non-Strategic (a)
Period-end loans ($ millions)	$	756		$	817		$	882		$	967		$	1,054		(7)%	(28)%
30+ Delinq. % (b)	1.56		%	1.72		%	1.67		%	1.42		%	1.63		%
NPL %	6.03			5.83			5.93			5.96			6.06
Charge-offs % (qtr. annualized)	NM			NM			NM			NM			NM
Allowance / loans % (c)	4.09		%	2.15		%	2.14		%	2.27		%	2.27		%
Allowance / net charge-offs	NM			NM			NM			NM			NM
Key Portfolio Details
Commercial (a)
Period-end loans ($ millions)	$	358		$	375		$	388		$	418		$	444		(5)%	(19)%
30+ Delinq. % (b) (d)	0.45		%	—		%	—		%	—		%	0.38		%
NPL %	—			—			0.70			0.66			0.64
Charge-offs % (qtr. annualized)	—			—			—			0.02			NM
Allowance / loans % (c)	2.95		%	0.65		%	0.77		%	1.20		%	1.10		%
Allowance / net charge-offs	NM			NM			NM			56.57			NM
Consumer Real Estate (a) (e)
Period-end loans ($ millions)	$	371		$	407		$	449		$	492		$	540		(9)%	(31)%
30+ Delinq. % (b) (f)	2.56		%	3.10		%	2.91		%	2.30		%	2.26		%
NPL %	12.19			11.63			10.98			11.07			11.26
Charge-offs % (qtr. annualized)	NM			NM			NM			NM			NM
Allowance / loans % (c)	5.40		%	3.71		%	3.54		%	3.42		%	3.51		%
Allowance / net charge-offs	NM			NM			NM			NM			NM
Other Consumer
Period-end loans ($ millions)	$	27		$	35		$	45		$	57		$	70		(23)%	(61)%
30+ Delinq. % (b)	2.60		%	4.05		%	3.78		%	4.21		%	4.61		%
NPL %	0.94			0.85			0.72			0.72			0.56
Charge-offs % (qtr. annualized)	1.82			1.83			2.84			4.41			4.35
Allowance / loans % (c)	1.21		%	0.09		%	0.09		%	0.09		%	0.20		%
Allowance / net charge-offs	0.58		x	0.04		x	0.03		x	0.02			0.04

NM - Not meaningful

(a) In 2Q19, the HBF portfolio was retrospectively reclassifed from Regional Banking segment to the Non-Strategic segment.

(b) 30+ Delinquency % includes all accounts delinquent more than one month and still accruing interest.

(c) 1Q20 increase in allowance as a percentage of total loans was driven by a sudden, steep decline in the economic forecast attributable to the COVID-19 pandemic and the adoption of CECL.

(d) 1Q20 increase in delinquencies as a percentage of total loans was primarily driven by one credit

(e) In 1Q20, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability.

(f) 3Q19 increase in delinquencies as a percentage of total loans was primarily drive by two credits.

22

FHN NON-GAAP TO GAAP RECONCILIATION

Quarterly, Unaudited

(Dollars and shares in thousands, except per share data)	1Q20			4Q19			3Q19			2Q19			1Q19
Tangible Common Equity (Non-GAAP)
(A) Total equity (GAAP)	$	5,055,580		$	5,076,008		$	4,996,043		$	4,926,081		$	4,846,521
Less: Noncontrolling interest (a)	295,431			295,431			295,431			295,431			295,431
Less: Preferred stock (a)	95,624			95,624			95,624			95,624			95,624
(B) Total common equity	$	4,664,525		$	4,684,953		$	4,604,988		$	4,535,026		$	4,455,466
Less: Intangible assets (GAAP) (b)	1,557,679			1,562,987			1,569,193			1,575,399			1,581,605
(C) Tangible common equity (Non-GAAP)	$	3,106,846		$	3,121,966		$	3,035,795		$	2,959,627		$	2,873,861
Tangible Assets (Non-GAAP)
(D) Total assets (GAAP)	$	47,197,378		$	43,310,900		$	43,717,684		$	42,171,770		$	41,099,003
Less: Intangible assets (GAAP) (b)	1,557,679			1,562,987			1,569,193			1,575,399			1,581,605
(E) Tangible assets (Non-GAAP)	$	45,639,699		$	41,747,913		$	42,148,491		$	40,596,371		$	39,517,398
Average Tangible Common Equity (Non-GAAP)
(F) Average total equity (GAAP)	$	5,002,394		$	5,039,868		$	4,962,341		$	4,869,161		$	4,809,235
Less: Average noncontrolling interest (a)	295,431			295,431			295,431			295,431			295,431
Less: Average preferred stock (a)	95,624			95,624			95,624			95,624			95,624
(G) Total average common equity	$	4,611,339		$	4,648,813		$	4,571,286		$	4,478,106		$	4,418,180
Less: Average intangible assets (GAAP) (b)	1,560,340			1,566,079			1,572,312			1,578,505			1,584,694
(H) Average tangible common equity (Non-GAAP)	$	3,050,999		$	3,082,734		$	2,998,974		$	2,899,601		$	2,833,486
Annualized Net Income/(loss) Available to Common Shareholders
(I) Net income /(loss) available to common shareholders (annualized) (GAAP)	$	48,545		$	463,483		$	434,469		$	438,562		$	401,642
Period-end Shares Outstanding
(J) Period-end shares outstanding	311,863			311,469			311,180			312,478			315,361
Ratios
(I)/(G) Return on average common equity (“ROCE”) (GAAP)	1.05		%	9.97		%	9.50		%	9.79		%	9.09		%
(I)/(H) Return on average tangible common equity (“ROTCE”) (Non-GAAP)	1.59		%	15.03		%	14.49		%	15.12		%	14.17		%
(A)/(D) Total equity to total assets (GAAP)	10.71		%	11.72		%	11.43		%	11.68		%	11.79		%
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)	6.81		%	7.48		%	7.20		%	7.29		%	7.27		%
(B)/(J) Book value per common share (GAAP)	$	14.96		$	15.04		$	14.80		$	14.51		$	14.13
(C)/(J) Tangible book value per common share (Non-GAAP)	$	9.96		$	10.02		$	9.76		$	9.47		$	9.11

(a) Included in Total equity on the Consolidated Balance Sheet.

(b) Includes goodwill and other intangible assets, net of amortization.

23

FHN GLOSSARY OF TERMS

Average Assets for Leverage: The amount of assets a company uses to calculate the leverage ratio, which includes average total assets less disallowed portions of goodwill, other intangibles, and deferred tax assets, as well as certain other regulatory adjustments made to tier 1 capital.

Common Equity Tier 1 Ratio: Ratio consisting of common equity adjusted for certain unrealized gains/(losses) on available-for-sale securities, less disallowed portions of goodwill, other intangibles, and deferred tax assets as well as certain other regulatory deductions divided by risk-weighted assets.

Core Businesses: Management considers regional banking, fixed income, and corporate as FHN’s core businesses. Non-strategic has legacy assets and operations that are being wound down.

Current Expected Credit Loss (“CECL”): New accounting standard that focuses on estimation of expected losses over the life of the loans which is measured by the difference between amortized cost and the net amount expected to be collected.

Fully Taxable Equivalent (“FTE”): Reflects the amount of tax-exempt income adjusted to a level that would yield the same after-tax income had that income been subject to taxation.

Market-Indexed Deposits: Deposits with pricing tied to an index not administered by FHN. For FHN these are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits.

Market-Indexed Deposits: Deposits with pricing tied to an index not administered by FHN. For FHN these are comprised of insured network deposits, correspondent banking deposits, and trust/sweep deposits.

Paycheck Protection Program (“PPP”): The Paycheck Protection Program is a loan designed to provide direct incentive for small businesses to keep their workers on the payroll. Loans guaranteed under the PPP will be 100 percent guaranteed by the Small Business Administration ("SBA"), and the full principal amount of the loans may qualify for loan forgiveness if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

Tier 1 Capital Ratio: Ratio consisting of shareholders’ equity adjusted for certain unrealized gains/(losses) on available-for-sale securities, plus qualifying portions of noncontrolling interests, less disallowed portions of goodwill, other intangible assets, and deferred tax assets as well as certain other regulatory deductions divided by risk-weighted assets.

Key Ratios

Return on Average Assets: Ratio is annualized net income to average total assets.

Return on Average Common Equity: Ratio is annualized net income available to common shareholders to average common equity.

Return on Average Tangible Common Equity: Ratio is annualized net income available to common shareholders to average tangible common equity.

Fee Income to Total Revenue: Ratio is fee income excluding securities gains/(losses) to total revenue excluding securities gains/(losses).

Efficiency Ratio: Ratio is noninterest expense to total revenue excluding securities gains/(losses).

Leverage Ratio: Ratio is tier 1 capital to average assets for leverage.

Asset Quality - Consolidated Key Ratios

NPL %: Ratio is nonperforming loans in the loan portfolio to total period-end loans.

NPA %: Ratio is nonperforming assets related to the loan portfolio to total period-end loans plus foreclosed real estate and other assets.

Net charge-offs %: Ratio is annualized net charge-offs to total average loans.

Allowance / loans: Ratio is allowance for loan losses to total period-end loans.

Allowance / NPL: Ratio is allowance for loan losses to nonperforming loans in the loan portfolio.

Allowance / NPA: Ratio is allowance for loan losses to nonperforming assets related to the loan portfolio.

Allowance / charge-offs: Ratio is allowance for loan losses to annualized net charge-offs.

24

EX-99.2

First Horizon National Corporation First Quarter 2020 Earnings April 21, 2020

Disclaimer Forward-Looking Statements This communication contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21 E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") with respect to First Horizon's and IBERIABANK's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results or other developments. The words "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward" and other expressions that indicate future events and trends identify forward-looking statements. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Horizon and IBERIABANK, and many of which, with respect to future business decisions and actions, are subject to change and which could cause actual results to differ materially from those contemplated or implied by forward-looking statements or historical performance. Examples of uncertainties and contingencies include factors previously disclosed in First Horizon's and IBERIABANK's respective reports filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the following factors, among others: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between First Horizon and IBERIABANK; the outcome of any legal proceedings that may be instituted against First Horizon or IBERIABANK; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated; the risk that any announcements relating to the proposed combination could have adverse effects on the market price of the common stock of either or both parties to the combination; the possibility that the anticipated benefits of the transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where First Horizon and IBERIABANK do business; certain restrictions during the pendency of the merger that may impact the parties' ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; First Horizon and IBERIABANK success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by First Horizon's issuance of additional shares of its capital stock in connection with the proposed transaction; the potential impacts on First Horizon’s and IBERIABANK’s businesses of the coronavirus COVID-19 pandemic, including negative impacts from quarantines, market declines and volatility, and changes in customer behavior related to COVID-19; and other factors that may affect future results of First Horizon and IBERIABANK. We caution that the foregoing list of important factors that may affect future results is not exhaustive. Additional factors that could cause results to differ materially from those contemplated by forward-looking statements can be found in First Horizon's Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC and available in the "Investor Relations" section of First Horizon's website, www.FirstHorizon.com, under the heading "SEC Filings" and in other documents First Horizon files with the SEC, including its registration statement on Form S-4 (reg. no. 333-235757) and filings related to that registration statement, and in IBERIABANK's Annual Report on Form 10-K for the year ended December 31, 2019 with the SEC and available in the "Investor Relations" section of IBERIABANK's website, www.IBERIABANK.com, under the heading "Financials & Filings" and in other documents IBERIABANK files with the SEC. Important Other Information In connection with the proposed transaction, First Horizon has filed with the SEC a registration statement on Form S-4 (reg. no. 333-235757) to register the shares of First Horizon's capital stock to be issued in connection with the proposed transaction. The registration statement includes a joint proxy statement of First Horizon and IBERIABANK, dated March 19, 2020, addressed to the shareholders of First Horizon and IBERIABANK seeking their approval of the proposed transaction. This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval. INVESTORS AND SHAREHOLDERS OF FIRST HORIZON AND IBERIABANK ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST HORIZON, IBERIABANK AND THE PROPOSED TRANSACTION. Investors and shareholders are able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about First Horizon and IBERIABANK, without charge, at the SEC's website (www.sec.gov). Copies of the registration statement, including the joint proxy statement/prospectus, and the filings with the SEC that will be incorporated by reference in the joint proxy statement/prospectus can also be obtained, without charge, by directing a request to Clyde A. Billings Jr., First Horizon, 165 Madison Avenue, Memphis, TN 38103, telephone (901) 523-5679, or Jefferson G. Parker, IBERIABANK, 200 West Congress Street, Lafayette, LA 70501, telephone (504) 310-7314. Participants in the Solicitation First Horizon, IBERIABANK and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the SEC. Information regarding First Horizon's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 16, 2020, its Annual Report on Form 10-K for the fiscal year 2019 which was filed with the SEC on February 28, 2020, and certain of its Current Reports on Form 8-K. Information regarding IBERIABANK's directors and executive officers is available in its Annual Report on Form 10-K for the fiscal year 2019 which was filed with the SEC on March 2, 2020, its amendment to Form 10-K filed on March 16, 2020, and certain of its Current Reports on Form 8-K. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph. 2

COVID-19: FHN Responding Quickly to Support Employees, Community & Customers ● Created pandemic response task force with senior leaders Company Operations ● Implemented business continuity plan, including remote work policies ● Branches open by appointment or drive-through only ● Emphasis on employees’ safety and health Employees ● Offered flexibility with additional sick time and child care assistance ● Approximately 50% of employees working remotely ● Banks’ critical role to provide credit during uncertain times Community ● First Horizon Foundation donation of $2.5mm to support relief efforts ● Proactive outreach to customers to discuss challenges and solutions Customers ● Working with customers to provide support through stimulus programs ● Participating in PPP under CARES Act 3

COVID-19: Providing Customer Support ● Implemented deferrals for more than 500 commercial customers and ~1,900 consumer customers Lending Assistance ● Approximately $600mm of new liquidity lines closed or in process for Borrowers primarily for healthcare-related customers ● Over 5,500 applications approved Paycheck Protection ● Processed $1.6B of SBA/PPP loans, helping more than Program (PPP) 100,000 employees across our customer base ● Waived ~$100K in fees Ongoing Support for ● Provided 400 clients with mortgage forbearance Customers As of April 15, 2020 4

FHN: Well-Positioned in a Challenging Environment ● Reported/Adjusted1 EPS of $0.04 and $0.051, respectively Solid 2 1Q20 ● PPNR at $166mm , up $27mm or 19% YoY driven by profitable balance sheet growth, Earnings strong countercyclical business performance and excellent expense management ● Provision expense of $145mm with only $7mm of NCOs in 1Q20; CECL adopted 1/1 ● Using stress test planning & actions to manage in current economic environment Strong Capital & ● CET1 of 8.5%; strong PPNR growth offset incremental provision, with RWA increase Loan Loss due largely to period-end loan growth Reserves ● Allowance for Loan Losses of $444mm, up from $200mm at 12/31/19; represents 74% of DFAST severely adverse scenario modeled losses Significant ● Average loan growth flat and period-end growth of 7% LQ; period-end balances $2.8B higher Period-end Loan and RWA ● Line draws up ~$750mm; elevated draws started mid-February, have since moderated Growth ● Loans to Mortgage Companies at $5.7B period-end; nearly all $1.3B of LQ growth occurred over last five days of the quarter ● Period-end deposits up 6% LQ Strong Deposits ● Core deposits represent ~86% of funding and Liquidity ● Current excess liquidity of 23% of assets 1Q20 CET1 is an estimate. 1Adjusted EPS is a Non-GAAP number and is reconciled in the appendix. 2Pre-provision net revenue is not a GAAP number but is used in regulatory stress test reporting. 5

IBERIABANK Merger & Truist Branch Acquisition IBERIABANK MOE ● Establish and Execute Communication Plans ● Complete Regulatory and Initial Shareholder- Related Filings o Announced transformational MOE with IBERIABANK on o Completed S-4 in March November 4, 2019 o Merger approved by TN Dept. of Financial Institutions o Regular ongoing communications with all employees o Fed Reserve Board approval pending ● Framework for Integration Planning o Shareholder meetings/votes on April 24 o Established Merger Project Office for MOE o Anticipate closing of IBERIABANK merger by end of 2Q20 o Conducting weekly discussions among senior leadership team for organizational planning for MOE o Core systems selected for combined company o Closing and conversion plans being finalized o Developing go-to models for systems and processes Truist Branch Acquisition ● All required regulatory branch acquisition approvals granted ● Due to COVID-19 pandemic, we have agreed with Truist to postpone branch acquisition to alleviate disruption for customers and consistent with current social distancing guidelines; closing expected early 3Q20 6

KEY FINANCIAL HIGHLIGHTS 7

Financial Results Change vs. $ in millions except per share data 1Q20 4Q19 1Q19 Highlights ● YOY NII increase from loan growth; LQ down due to lower Net Interest Income $303 ($9) $8 accretion, fewer days, and decline in rates; NIM at 3.16% ● YOY increase includes higher Fixed Income ADR; LQ decline Fee Income $175 ($9) $34 includes negative deferred compensation income of $10mm Total Revenue $478 ($17) $42 ● Total revenue up 10% YOY ● LQ expenses down from decrease in notable items and deferred compensation expense, offsetting $20mm increase in Expense $311 ($16) $15 Fixed Income variable compensation and $9mm increase in unfunded commitments Pre-Provision Net Revenue ● PPNR up 19% YOY and steady LQ from higher Fixed Income 1 $166 ($1) $27 (PPNR) revenue and expense discipline ● NCOs of $7mm in quarter; provision build on economic factors Loan Loss Provision $145 NM NM under CECL methodology Pre-Tax Income $21 ($136) ($109) NIAC $12 ($105) ($87) EPS $0.04 ($0.33) ($0.27) Avg Loans ($B) $30.5 ($0.2) $3.2 ● Strong, broad-based average loan growth of 12% YOY; period- Avg Deposits ($B) $32.9 $0.1 $0.4 end loans up on loans to mortgage companies volume and commercial line draws Period-end Loans ($B) $33.4 $2.3 $5.4 Period-end Deposits ($B) $34.4 $2.0 $2.0 1Pre-provision net revenue is not a GAAP number but is used in regulatory stress test reporting. 8

Loan Growth Driven by Increased Loans to Mortgage Companies and Higher Line of Credit Usage ● Period-end total loan balances are up $2.3B LQ Total Loans $35.0B 2020 $3.4B of growth ● Loans to mortgage companies up $1.3B, with $1.2B from $34.0B 2019 2/25 to 3/31 of the growth occurring in last week of the quarter $33.0B $32.0B ● All other commercial loans grew by $1.1B, largely $31.0B driven by customers drawing down on lines of credit $30.0B $29.0B due to economic uncertainty $28.0B $27.0B ● Consumer loans fell $60mm, with declines seen in $26.0B most product categories $25.0B Jan-07 Jan-14 Jan-21 Jan-28 Feb-04 Feb-11 Feb-18 Feb-25 Dec-31 Mar-03 Mar-10 Mar-17 Mar-24 Mar-31 Total Loans Excluding LMC Loans to Mortgage Companies (LMC) 105% $27.9B 140% $1.2B of growth $6.0B ~$750mm Related to $27.7B 104% 120% from draw downs on $27.5B 3/26 to 3/31 $5.0B 103% commercial lines $27.3B 100% ~$500mm day over 102% day increase $4.0B $27.1B 80% 101% $26.9B $3.0B 60% 100% $26.7B Seasonal dip $26.5B 40% $2.0B 99% $26.3B 20% $1.0B 98% $26.1B 97% $25.9B 0% $0.0B Jan-07 Jan-14 Jan-21 Jan-28 Jan-07 Jan-14 Jan-21 Jan-28 Feb-04 Feb-11 Feb-18 Feb-25 Feb-04 Feb-11 Feb-18 Feb-25 Dec-31 Dec-31 Mar-03 Mar-10 Mar-17 Mar-24 Mar-31 Mar-03 Mar-10 Mar-17 Mar-24 Mar-31 9

Deposit Inflows Increase in 1Q20 ● Total deposit balances up $2B LQ Total Deposit Growth Since 12/31/19 ● Total deposit growth driven by a $1.8B increase in market- 110% indexed deposits resulting from customer inflows due to Related to new 108% market volatility market-indexed deposit 106% contracts ● Commercial deposit balances were up, driven by a 104% ~$500mm increase in noninterest bearing deposits 102% ● Consumer deposits up ~$50mm 100% 98% ● Additional $1.4B of insured network deposits contracts executed in March & April 96% 94% ● Deposits up ~$2B QTD as of 4/17, a 6% increase from 3/31 Jan-07 Jan-14 Jan-21 Jan-28 Feb-04 Feb-11 Feb-18 Feb-25 Dec-31 Mar-03 Mar-10 Mar-17 Mar-24 Mar-31 Regional Banking Deposit Balances $31.5B $31.0B $30.5B $30.0B This increase and half of $29.5B the decrease are related $29.0B to inflows/outflows from healthcare companies $28.5B $28.0B Jan-07 Jan-14 Jan-21 Jan-28 Feb-04 Feb-11 Feb-18 Feb-25 Dec-31 Mar-03 Mar-10 Mar-17 Mar-24 Mar-31 10

CAPITAL & LOAN LOSS RESERVES 11

Deploying Capital to Support Customers ● Strong PPNR growth offset incremental provision, with RWA increase due largely to period-end loan growth ● PPNR earnings supported dividend and 1Q20 provision build ● CET1 impact of ~70bps due to increase in risk-weighted assets: o 54bps: increase on period-end loan growth from quarter-end spike in Loans to Mortgage Companies and higher commercial line draw activity o 16bps: increase in market risk assets largely driven by spike in VaR due to extreme March volatility CET1 Walk-Forward from 4Q19 to 1Q20 ($s in millions) 0.34% (0.20%) (0.14%) (0.30%) (0.24%) 0.02% PPNR supports (0.16%) 9.20% dividend and provision build 8.52% ~70BPS of RWA impact 4Q19 Actuals PPNR² Provision, Common & Higher LMC Other Loan Fixed Income Other³ 1Q20 Estimate Net of CECL Preferred Balances Growth Market Risk Deferral Dividends Assets $121 $16 $37,046 +$1,302 +$1,060 +$691 +$71 $40,170 Net Income RWA Numbers may not add due to rounding; preliminary capital ratio estimates for 1Q20. Utilized regulatory relief to defer CECL day 1 impact and portion of quarterly provision impact on CET1. CET1 is an estimate. 2PPNR is presented as a Non-GAAP number and is reconciled in the appendix. 3Other includes amortization of intangibles, equity comp options exercised, and other capital and RWA changes. 12

Drivers of Change Under CECL ● CECL replaces the incurred loss methodology with a life of loan estimate concept and was adopted as of 1/1/20 ● Economic factors, representing changes to future economic assumptions, drove majority of 1Q20 provision increase, as there were only $7mm of NCOs in the quarter ● In addition to various economic scenarios that were modeled and weighted across all portfolios, certain portfolios such as franchise finance and hospitality were stressed under more adverse conditions ● Ending balance of allowance for loan losses at 3/31/20 of $444mm; represents 74% of severely adverse modeled loss estimate Loan Loss Reserve Walk-Forward Economic Factors Portfolio Day 1 Changes $126mm Impact $12mm Reflects changes to Includes loan growth, economic environment $106mm credit quality changes with portfolios stressed $444mm and net charge-offs Adjustment to C&I, under various scenarios of $7mm in 1Q20 CRE & Consumer $200mm portfolios Beginning$121 Reserve Ending Balance 12/31/2019 3/31/2020 13

Loan Loss Reserve Key Observations Relative Reserve Comparison ● Commercial loans comprise ~75% of total average loans Reserves / Loans o 42% considered investment-grade equivalent as of 3/31/20 (%) 1.60% o ~20% of commercial loans are loans to mortgage companies (LMC), which carry 1.33% minimal credit risk 1.26%2 ● Consumer at ~25% of total average loans o Credit cards only ~2% o Average refreshed FICO of 757 FHN FHN Ex. LMC Bank Median¹ ● $4.2B of acquired loans (~12% of total loans) have a $65mm unamortized loan mark in (ex-cards) addition to $42mm in reserves, which provides additional loss absorption capacity Reserves / Q1 Annualized NCOs (x) 15.9x FHN Reserve Detail CECL 3/31/20 3/31/20 12/31/19 Adoption Reserve 3/31/20 Period-end Allowance / 4.5x $ in millions Allowance Impact 1/1/20 Build Allowance Loans Loans C&I $122 $19 $141 $113 $254 $22,124 1.15% FHN Bank Median¹ LMC (in C&I $6 ($3) $3 $1 $4 $5,714 0.07% loans) Reserves / Fed 2019 DFAST Severely Adverse C&I excl LMC $117 $22 $138 $112 $250 $16,410 1.53% Loan Losses3 (%) CRE $36 ($7) $29 $19 $48 $4,640 1.04% 74%4 Total Commercial $159 $(11) $170 $132 $302 $26,764 1.13% 40% Consumer $42 $95 $137 $6 $142 $6,614 2.18% Total $200 $106 $307 $138 $444 $33,378 1.33% Total excl LMC $195 $109 $304 $137 $440 $27,664 1.60% FHN Bank Median¹ 1Bank Median represents banks that have reported 1Q’20 earnings. Banks include the following (sorted by assets): JPM, BAC, C, WFC, USB, TFC, PNC, ALLY, CFG, KEY, RF, MTB, FRC, ZION, IBKC, WAL, PNFP, BXS, ONB, BOH, HOMB, FFBC, CBU, SFBS, TSC, EFSC, WABC, BMTC and TBK 2Represents Reserves on Loans Excluding Credit Card for banks with credit card portfolio specific reserve detail available (JPM, BAC, C, USB, KEY); both reserves and loans exclude credit card for calculation. Reported Reserves / Loans used for other banks. 14 3Calculated based on dollar amount of reserves vs. dollar amount of stress test losses. 4Based on FHN Company run DFAST results of Fed's severely adverse scenario for comparative purposes.

Overview of Economic Assumptions ● Most heavily weighted scenario for overall ● Some weighting of this scenario in overall quantitative quantitative CECL models used for economic factors CECL models used in economic factors ● Considers COVID-19 pandemic impacts, including: ● Main scenario used for additional qualitative overlay for certain stressed sectors (franchise finance, hospitality) o CARES Act ● Stimulus enacted but: o Fed stimulus including open-ended quantitative o Program fund distribution delayed by bottlenecks easing and announced programs o Magnitude proves insufficient to stem bankruptcies o Assumes a 4th stimulus in 4Q20 o Uncertain federal return to work guidance B a s e l i n e o Recession starting in 1H20 D o w n s i d● e No additional stimulus o Partial bounce back in 3Q20, then slow growth ● Deeper recession in 1H20, modest rebound in 3Q20, o Acceleration of GDP growth later in 2021 then renewed decline through 1Q21 o Return to full employment by 2023 ● Return to full employment by 2025 Epidemiological Highlights Downside Baseline Upside # Infections 9-15mm 3-8mm 1-2mm Case Fatality Rate 4.5% 1.5% 1.0% Peak Infections June May April Infections Abate September July June Hospitalization Rate 20% 10% 8% Excess Capacity of Hospital Beds -47% 19% 31% Excess Capacity of ICU Beds -125% 4% 27% Excess Capacity of Ventilators -56% 17% 30% Source: Moody’s 15

Current vs Stress Test Economic Environment ● Portfolios modeled primarily across three Moody’s scenarios ● Loan loss reserve in 1Q20 represents 74% of 2019 stress test losses over 9 quarters in severely adverse scenario, compared to peers1 at 40% Real GDP ($T) Unemployment Rate 3-month Treasury Yield $21 14% 2.5% 12% 2.0% $20 10% 1.5% $19 8% 1.0% 6% $18 4% 0.5% $17 2% 0.0% T0 T1 T2 T3 T4 T5 T6 T7 T8 T9 T0 T1 T2 T3 T4 T5 T6 T7 T8 T9 T0 T1 T2 T3 T4 T5 T6 T7 T8 T9 CRE Price Index Home Price Index Dow Total Market Index (000s) 350 240 36 325 32 220 300 28 200 275 24 250 180 20 225 160 200 16 Source: Moody’s Data Buffet 175 140 12 T0 T1 T2 T3 T4 T5 T6 T7 T8 T9 T0 T1 T2 T3 T4 T5 T6 T7 T8 T9 T0 T1 T2 T3 T4 T5 T6 T7 T8 T9 Current Outlook (4Q19 – 1Q22) (2Q19 – 3Q21) 1Peers represent banks from ~$30B to $100B+ in assets that have reported 1Q20 earnings 16

Stress Testing FHN Has the Ability to Manage through Severely Adverse Economic Conditions ● FHN’s diversified portfolio mix resulted in Key Ratios lower losses 2019 FHN Stress Test Results Aggregate 2019 Peer Results ● Total loss rates at 2.1% vs peers at 5.7% 2.6% 2.4% ● Ability to manage capital through severely adverse conditions (0.3%) -90 bps (0.8%) ● Strong PPNR1 and countercyclical businesses provide offset during stressed scenario -310 bps CET1 PPNR % Net Income Change Assets % Assets FHN Stressed Loan Loss Rate Less than Peers for Most Portfolios and in Aggregate FHN Consumer Peers ● 9 quarter cumulative losses of $599mm; real estate additional pre-tax loss capacity of ~$1.7B to 4.5% C&I CET1 regulatory requirement CRE ● FHN’s portfolio mix resulted in lower losses Other consumer o Loans to mortgage companies have relatively Other loans low loss rates and represented ~11% of Total 2.1% FHN’s stressed loss rate average loans losses 5.7% less than half peer rate 0.0% 5.0% 10.0% 15.0% o Credit card portfolio was <1% of average loans Note: All references to peer stress testing data represent the aggregate 2019 supervisory Dodd-Frank Act Stress Testing (“DFAST”) results of 18 participating firms. Source: Federal Reserve. FHN’s stress test is based off the 2019 DFAST Severely Adverse scenario and generally follows prescribed DFAST methodology. The test is as of 2Q19 and covers 9 quarters (3Q19 through 3Q21). . 1Pre-provision net revenue is not a GAAP number but is used in regulatory stress test reporting. 17

CREDIT PORTFOLIO CHARACTERISTICS 18

10-Year Balance Sheet Evolution Yields Lower Risk Model ● Strong underwriting across loan portfolios Positive Commercial Credit Grade Migration ● Commercial loan portfolio shifting to higher ($ are Total Ending Balance) $27B 3% quality, with 42% of commercial loans PD 1-5 qualifying as investment grade equivalent High Pass ● High quality consumer portfolio with no PD 6-9 subprime and minimal exposure to high risk Medium Pass $9B consumer lending PD 10-12 Low Pass 32% ● Stronger capital resiliency in the severely 42% adverse 2019 DFAST scenario vs peers1 PD 13-16 Non Pass 9% 2009 1Q20 CRE to Total Capital: FHN vs Peers2 Total Average Loans 256% 245% 246% 247% 2009 Since 2009, exited 1Q20 226% national 1st & 2nd 170% Lien originations, 166% 15% 14% 137% 138% 143% One Time Close, 123% 105% 37% Res-CRE and Land 84% 20% 64% 37% 11% 2% FHN Peer 1 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer Peer 2 Peer Peer 11 Peer 12 Peer Peer 10 Peer C&I CRE Home Equity / HELOC Other Consumer³ Data as of 1Q20. Source: S&P Global Market Intelligence. 1Results represent DFAST Severely Adverse scenario. All references to peer stress testing data indicates aggregate HoldCo level 2019 supervisory DFAST results of 18 participating firms. Source: Federal Reserve. 2CRE is comprised of Non-owner-occupied Nonfarm/Nonresidential property loans, Multifamily loans, Construction & Land Development loans, and Unsecured CRE loans 19 3Other Consumer includes Other Consumer loans, Credit Card, and One-time Close.

Commercial Loans by Industry Commercially Oriented Loan Portfolio Reflects Broad Mix of Categories 1Q20 Average % of ($ in millions) Balance Balance Loans to Mortgage Companies $5,754 21% ● 90% government guaranteed ● Finance & Insurance primarily includes finance companies, Finance & Insurance $2,695 10% correspondent banking, TRUPs Real Estate Rental & Leasing $1,590 6% Health Care & Social Assistance $1,533 6% ● ~35% physicians and other health practitioners, 27% hospitals ● Food services includes restaurants where 65% are fast food Accommodation & Food Service $1,510 6% concepts and~75% of borrowers have more than 20 locations Wholesale Trade $1,470 5% Manufacturing $1,348 5% ● ~40% grocery, convenience stores, liquor stores; 17% auto dealers; Retail Trade $899 3% ~10% auto parts ● Transportation & warehousing primarily includes trucking and Transportation & Warehousing $774 3% logistics companies Arts, Entertainment & Recreation $351 1% Other C&I $4,294 16% ● Over 90% flagged hotels; ~56% limited service hotel, average loan CRE - Hospitality $515 2% commitment size ~$14mm, average equity ~40% ● Emphasis on grocery, value, and service retailers; average loan CRE - Retail $862 3% commitment size ~$4mm; average equity ~30% Other CRE $3,257 12% Total Commercial $26,851 100% Data based on NAICs codes as of 1Q20. Energy-related loans represented across various categories Numbers may not add to total due to rounding. 20

Industry: Focus Portfolios Healthcare 4% Physicans & Health Practitioner Offices 20% 36% Health & Medical Centers $1.6B Hospitals Residential Facilities 27% Other 12% Healthcare includes $900mm healthcare line of business and other healthcare-related loans in C&I portfolio Energy 18% Reserve Based — ~70% borrower revenue hedged through 2020; 50% hedged through 2021 4% Midstream $0.7B 51% 14% Compression Refineries, Terminals, Storage 14% Other Oil Field Services Energy includes~$500mm in the energy line of business and other energy- related loans in the C&I portfolio Data as of 1Q20 and average balances based on NAICs codes. Numbers may not add to total due to rounding. 21

Industry: Focus Portfolios Hospitality 26% Hotels — Average commitment size $14mm — Over 90% flagged hotels $0.6B — Average equity 40% Other 74% Other includes casinos and other traveler accommodations Restaurants 36% Limited Service Restaurants $1.3B — Average commitment size ~$20mm 64% Full-Service Restaurants Restaurant portfolio includes ~$1B of franchise finance line of business Data as of 1Q20 and average balances based on NAICs codes. Numbers may not add to total due to rounding. 22

Industry: Loans to Mortgage Companies High Quality Portfolio Demonstrates Growth in 1Q20 ● FHN’s balance sheet capacity, knowledge, and expertise have led to increased market share while supporting the economy by funding credit lines ● Loans to mortgage companies (LMC) at $5.7B, up $1.3B from 4Q19; impacted CET1 by 30bps in 1Q20 o LMCs are 100% risk-weighted; 90% of collateral is government guaranteed, which if held individually on balance sheet would be risk-weighted at 50% o Average FICO/LTV: Jumbo loans at 745/71%; non-QM loans at 740/75%; conventional conforming loans at 742/78% o Purchase at 46%, refi at 54% in 1Q20 ● Provides countercyclical, profitable growth in low rate environment with credit risk mitigated by government guaranteed collateral of loans Loans to Mortgage Companies Average balances $800mm lower than 4Q with PE 4% $5.7B balances $1.3B higher $5.0B Government 5% $4.4B $4.4B $3.9B Insured $3.8B $3.6B Jumbo $3.0B 1Q20 $2.3B Non-QM $1.7B 90% 1Q19 2Q19 3Q19 4Q19 1Q20 Period-end Balance ($B) Average Balance ($B) 23

KEY TAKEAWAYS 24

Merger of Equals with IBERIABANK on Track ● Strengthens position in high growth, attractive markets Strategically ● Diversifies revenue and business mix Compelling ● Expands product capabilities ● Ability for greater investment in technology and digital capabilities for Enhanced Scale efficiency and improved customer experience ● Leverage increased balance sheet capacity to support customers ● Cost savings opportunities ● Revenue synergies Financially ● Significant EPS accretion Attractive ● Increased capital generation ● Higher returns to create shareholder value 25

Key Takeaways ● Successful execution of strategic priorities and continued utilization of balance sheet and capital to support customers ● Strong liquidity, capital, reserves, and PPNR generation ● Diversified business with disciplined credit risk management o Loan portfolios across broad areas and geographies o Solid deposit franchise o Countercyclical businesses providing offsets in a declining rate environment o Excellent expense discipline with efficiency opportunities through merger cost saves ● Merger of equals with IBERIABANK on track 26

APPENDIX 27

Net Interest Income and Margin Trends ● NII and NIM lower due to decline in accretion from 4Q19 NII and NIM Linked-Quarter Change Drivers elevated levels; NII impacted by fewer days in the quarter NII NIM ● Total loan accretion of $9mm in 1Q20 vs $14mm in 4Q19 ($ in millions) 4Q19 - Reported $311 3.26% ● Total deposit rate paid down 15bps LQ to 67bps Less: 4Q19 CBF Loan Accretion -$14 -15bps ● LIBOR down in 1Q20 and expected to decrease further 4Q19 - Core1 $297 3.11% Days -$3 - NII Shortfall Offset by Balance Sheet Growth Loan Rates (primarily LIBOR/prime) -$15 -15bps ($ in millions) Deposit Rates +$11 +11bps ($5) $2 ($2) Trading Securities & Other +$5 ($1) $311 ($3) $5 Deposit Volume +$2 +2bps $303 ($15) $11 Loan Volume -$2 - Loan Fees & Cash Basis -$1 -2bps 1Q20 - Core1 $294 3.07% Plus: 1Q20 CBF Loan Accretion +$9 +9bps 4Q19 Trading Loan 1Q20 Net Days Loan Dep. Dep. Loan NII Sec. & Fees & NII Accretion Rates Rates Volume Volume Other Cash Basis 1Q20 - Reported $303 3.16% Numbers may not add to total due to rounding. 1Core excludes the accretion from CBF’s loans, and is a Non-GAAP number reconciled in the table found on this slide. The average earning assets impact from CBF’s loan accretion was $69mm in 1Q20 and $83mm in 4Q19. 28

Fixed Income Delivers Strong Countercyclical Growth ● Fixed income product average daily revenue (ADR) at $1.3mm o Increase of $200k or 19% LQ, up $500k or 73% YOY ● Pre-tax income at $26mm, up $15mm or 141% YOY ● Growth across multiple trading desks and across customer base ● Extensive distribution platform well-positioned to capitalize on favorable market conditions Fixed Income: Pre-Tax Income Key Drivers of Average Daily Revenue in 2020 $50mm $110mm $107mm $100mm $40mm Lower Key Driver Higher $88mm Revenue Revenue $90mm $83mm $30mm $80mm Up Direction of rates Down $72mm $70mm $20mm $61mm Low Market Volatility Moderate $60mm $10mm $50mm Flatter Shape of Yield Curve Steeper $51mm $56mm $68mm $62mm $81mm $40mm $0mm State of Economy & 1Q19 2Q19 3Q19 4Q19 1Q20 Positive Negative Outlook ADR $729K $866K $995K $1.1m $1.3m m 29

Disciplined Expense Management ● Good expense discipline throughout 1Q20 ● 1Q20 expense includes higher variable compensation from increased revenue in Fixed Income and higher expense related to reserve for unfunded commitments Total Noninterest Expense 4Q19-1Q20 Total NIOE ($ in millions) $327 $308 $311 $306 $300 $290 $327mm ($31mm) $296 $278 $272 $276 $9mm $311mm ($14mm) $20mm 1Q19 2Q19 3Q19 4Q19 1Q20 4Q19 Notable Deferred Fixed Reserve for 1Q20 Reported Adjusted¹ Actual Items Comp. Income Unfunded Actual (Var. Comp.) Commitments Numbers may not add to total due to rounding. 1Adjusted Expense is a Non-GAAP number and is reconciled in the appendix. Adjusted numbers exclude notable items as outlined in the appendix. Fixed Income variable compensation reflects all personnel cost, primarily driven by variable compensation 30

Deposit Composition Reflects Stable Funding Mix ● Total avg. deposits represent ~86% of total funding Total Average Deposits ● Stable and cost effective funding mix in Regional Avg. Balance Weighted Avg. Rate Paid Banking with 55% DDA and interest checking deposits Avg. Fed Funds $32B $32B $32B $33B $33B ● Other wholesale funding sources support asset- oriented businesses such as specialty lending areas, 240bps 240bps 219bps 165bps Fixed Income inventory and Non-Strategic loans 125bps ● FHN maintains a contingency funding plan that may 103bps 99bps 96bps be executed should unexpected difficulties arise 82bps 67bps 1Q19 2Q19 3Q19 4Q19 1Q20 Average Deposits by Product Core Funded with Relationship Deposits $32B $32B $32B $33B $33B Total Deposits 86% 13% 13% 14% 15% 12% Relationship Deposits¹ 19% 18% 20% 21% 20% Market-Indexed Deposits 74% Other Short-term Borrowings 41% 43% 42% 42% 42% 1Q20 12% Term Borrowings Funding Mix Other² 24% 25% 25% 26% 26% 4% 1Q19 2Q19 3Q19 4Q19 1Q20 2% Non-interest Consumer interest Commercial interest Market-indexed 8% Numbers may not add due to rounding. 1Includes all deposits except market-indexed. 2Primarily composed of trading liabilities and short-term borrowings related to the Fixed Income segment.. 31

Insured Network Deposits ● Included in market-indexed deposits and represent deposits from brokerage customers; balances flow into banks for FDIC insurance ● Contracts through various brokerage firms ● Significant inflow in March as brokerage customers exited equity markets into cash positions ● Similar growth trends during prior financial crisis with customers preserving cash Insured Network Period-End Deposits $3.66B $1.71B $1.58B $2.02B $1.98B $1.50B $1.50B $1.84B $1.80B $1.12B 2007 2008 2009 2010 2011 1Q19 2Q19 3Q19 4Q19 1Q20 32

NII Sensitivity ● Floating rate assets re-price at 100% beta. Loan 1Q20 Loan Composition: Fixed vs Floating portfolio comprised of 71% floating adjustable Float rate loans 71% LIBOR 88% ● Liabilities re-price at a slower pace; strong DDA mix Fixed Fixed Prime Floating vs. 12% with emphasis on core deposit gathering 29% Composition Floating ● In the current environment, there are several UST 0.3% potential offsets to lower interest rates including elevated spread of LIBOR to Fed Funds, widening credit spreads, Payroll Protection Program and higher Asset Repricing Profile Fixed Income trading inventory Floating rate assets re-price at 100% beta 12 Months or Less Liabilities re-price at a slower pace ● Securities portfolio comprises ~10% of total assets 72% +$9.2B short-term re-pricing gap with an estimated effective duration of 1.3 years Asset Repricing Frequency 28% Greater than 12 Months Numbers may not add to total due to rounding. 33

1Q20 Credit Quality Summary by Portfolio Regional Banking Corporate6 Non-Strategic FHNC Commercial Consumer Consumer Commercial Consumer ($ in millions) CRE Other2 Subtotal Other3 Total (C&I & Other) Real Estate1 Real Estate1 (C&I & Other) Real Estate1 Period-end Loans $21,798 $4,608 $5,717 $468 $32,591 $31 $358 $371 $27 $33,378 30+ Delinquency % 0.07% 0.01% 0.51% 0.90% 0.15% 5.39% 0.45% 2.56% 2.60% 0.19% Dollars $16 $0 $29 $4 $49 $2 $2 $10 $0 $63 NPL4 % 0.44% 0.05% 0.78% 0.02% 0.44% 4.25% 0.00% 12.19% 0.94% 0.57% Dollars $96 $2 $45 $0 $143 $1 $0 $45 $0 $190 Net Charge-offs5 % 0.12% 0.00% NM 2.12% 0.11% NM 0.00% NM 1.40% 0.09% Dollars $6 $0 ($0) $2 $8 $0 ($0) ($1) $0 $7 Allowance $245 $47 $103 $19 $414 $0 $11 $20 $0 $444 Allowance / Loans % 1.12% 1.02% 1.80% 4.06% 1.27% NM 2.95% 5.40% 1.21% 1.33% Data as of 1Q20. NM - Not meaningful. Numbers may not add to total due to rounding. 1Includes HE and HELOC. 2Includes Credit card and Other. 3Includes Credit card, OTC, and Other Consumer. 4Non-performing loans excludes held-for-sale loans. 5Net charge-offs are annualized. 6Exercised clean-up calls on jumbo securitizations in 1Q13, 3Q12, 2Q11, and 4Q10, which are now on the balance sheet in the Corporate segment. 34

Regional Bank Average Loans Regional Bank Average Commercial Loans Consumer & Small Business Specialty Loans to Mortgage Co's Areas 4% 16% Commercial Real Estate 9% Asset-Based Lending Business Banking 39% Healthcare 14% Private Client 1Q20 Franchise Finance 48% Corporate Retail Energy 39% 10% Small Business Correspondent 4% 4% 4% 4% Business Banking Commercial 2% 2% CRE: Collateral Type CRE: Geographic Distribution 1% NC 6% Office 17% TN 11% 27% Multi-Family 28% FL Retail 6% Industrial TX 13% 8% Hospitality SC Other 8% 20% GA 19% 22% Land 13% Other Data as of 1Q20 unless noted otherwise. Numbers may not add to total due to rounding. 35

Consumer Portfolio & Non-Strategic Overview HELOC Draw vs Repayment Balance Home Equity Portfolio In Draw In Repayment 68% $1.0B $0.3B 5% 6% 7% 6% 8% 0-12 13-24 25-36 37-48 49-60 >60 Months Left in Draw Period Non-Strategic Consumer Real Estate Mortgage Repurchase Reserve $540mm 1 $492mm 1Q19 2Q19 3Q19 4Q19 1Q20 $449mm ($ in millions) $407mm $371mm Beginning Balance $32 $31 $18 $17 $15 37% 42% Net Realized Losses ($0) ($13) ($1) ($2) ($1) 39% 39% 36% Provision Credit ($0) ($1) ($0) ($0) ($0) 1Q19 2Q19 3Q19 4Q19 1Q20 Ending Balance $31 $18 $17 $15 $13 Period-end Balance Constant Pre-Payment Rate Data as of 1Q20 unless noted otherwise. Numbers may not add to total due to rounding. 12Q19 includes a single party complete settlement payment that reduces the repurchase and foreclosure reserve. 36

Stress Testing FHN Has the Ability to Manage through Severely Adverse Economic Conditions Stress Test1 based on 2019 DFAST Severe Scenario Fixed Income Countercyclical Contribution ● Severe global recession with heightened stress in $175 30% commercial real estate and corporate debt markets $150 25% $125 o Real GDP down 8% 20% $100 15% o Unemployment up to 10% $75 10% o 3-mo Treasury bills near zero $50 $25 5% ● Asset prices drop sharply FI PPNR % Total of PPNR Pre Provision Pre Provision Net Revenue $- 0% o House prices down 25% 3Q19F 4Q19F 1Q20F 2Q20F 3Q20F 4Q20F 1Q21F 2Q21F 3Q21F 2Q19A o CRE prices down 35% FHN PPNR ($) FI PPNR (LH) FI PPNR % (RH) o Equity prices fall 50%, surge in market volatility Average Daily Revenue up to $1.5mm; average $1.3mm FHN Stressed Loan Loss Rate Less than Peers for Most Portfolios and in Aggregate Consumer ● 9 quarter cumulative losses of $599mm; additional real estate 2019 FHN Stress Test Results Aggregate 2019 Peer Results pre-tax loss capacity of ~$1.7B to 4.5% CET1 C&I regulatory requirement CRE Other ● FHN’s portfolio mix results in lower losses consumer Other o Loans to mortgage companies have relatively low loans loss rates and represent ~11% of average loans Total 2.1% losses 5.7% o Credit card portfolio is <1% of average loans 0.0% 5.0% 10.0% 15.0% 1FHN’s 2019 stress test is based off the 2019 Dodd-Frank Act Stress Testing (“DFAST”) Severely Adverse scenario and generally follows prescribed 2019 supervisory DFAST methodology. The test is as of 2Q19 and covers 9 quarters (3Q19 through 3Q21) and loss rates are calculated under incurred loss model. 37

Notable Items-2019 & 2020 Pre-Tax Pre-Tax 2019 Amount 2020 Amount Restructuring ($12.2mm) 1Q Acquisition Expense ($5.8mm) Acquisition Expense ($5.7mm) Restructuring ($18.7mm) Rebranding ($9.1mm) 2Q Acquisition Expense ($8.6mm) Legal Resolution Expense Reversal $8.3mm Rebranding ($3.1mm) Acquisition Expense ($9.0mm) 3Q Restructuring ($7.8mm) Net Impact of Legal Resolutions ($7.5mm) Visa Derivative Valuation Adjustments ($4.0mm) Acquisition Expense ($15.7mm) Charitable Contributions ($11.0mm) 4Q Rebranding Expense ($9.1mm) Restructuring ($1.2mm) 38

Reconciliation to GAAP Financials Slides in this presentation use Non-GAAP information of adjusted noninterest expense, adjusted net income available to common, adjusted earnings per share, and after-tax pre-provision net revenue. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. ($ in millions) 1Q20 4Q19 3Q19 2Q19 1Q19 Adjusted Noninterest expense Noninterest expense (GAAP) $311 $327 $308 $300 $296 Plus notable items (GAAP) -$6 -$37 -$31 -$28 -$18 Adjusted noninterest expense (Non-GAAP) $306 $290 $276 $272 $278 Adjusted NAIC/Diluted EPS Net income available to common ("NIAC") (GAAP) (a) $12 Plus Tax effected notable items (Non-GAAP)1 $5 Adjusted NIAC (Non-GAAP) (b) $17 Diluted Shares (GAAP) (c) 313 Diluted EPS (GAAP) (a/c) $0.04 Adjusted diluted EPS (Non-GAAP) (b/c) $0.05 After-tax Pre-provision net revenue (PPNR) (Non-GAAP) Net income (GAAP) $16 Less: tax-effected Provision expense2 -$109 Less: tax-effected securities gains/(losses)2 $0 After-tax PPNR (Non-GAAP) $126 Provision (GAAP) -$145 Tax impact2 $36 Provision, after-tax (Non-GAAP) -$109 CECL Deferral related to Provision3 $34 Provision after-tax, Net of CECL Deferral (Non-GAAP) -$144 Numbers may not add due to rounding.1Tax-affected notable items assume an effective tax rate of ~21% in 1Q20, ~19% in 4Q19, ~22% in 3Q19, ~21% in 2Q19, and ~23% in 1Q19. 2Calculated using a tax rate of ~25%. 3Amount calculated under the interim final rule to delay the effects of CECL on regulatory capital for two years, followed by a three-year transition period. 39

XML

Document and Entity Information Document	Apr. 21, 2020
Entity Information [Line Items]
Entity Central Index Key	0000036966
Entity Incorporation, State or Country Code	TN
Document Type	8-K
Document Period End Date	Apr. 21, 2020
Entity Registrant Name	First Horizon National Corporation
Entity Central Index Key	62-0803242
Entity File Number	001-15185
Amendment Flag	false
City Area Code	901
Local Phone Number	523-4444
Written Communications	true
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	165 Madison Avenue
Entity Address, City or Town	Memphis,
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38103
Common Capital Stock
Entity Information [Line Items]
Title of 12(b) Security	$0.625 Par Value Common Capital Stock
Trading Symbol	FHN
Security Exchange Name	NYSE
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/4,000th interest in
Trading Symbol	FHN PR A
Security Exchange Name	NYSE