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Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020:
 March 31, 2021
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $51 $— $51 
Government agency issued MBS— 384 — 384 
Government agency issued CMO— 190 — 190 
Other U.S. government agencies— 237 — 237 
States and municipalities— 10 — 10 
Corporate and other debt— 204 — 204 
Total trading securities— 1,076 — 1,076 
Loans held for sale (elected fair value)— 437 12 449 
Loans held for investment (elected fair value)— — 17 17 
Securities available for sale:
U.S. treasuries— 610 — 610 
Government agency issued MBS— 4,038 — 4,038 
Government agency issued CMO— 2,441 — 2,441 
Other U.S. government agencies— 725 — 725 
States and municipalities— 475 — 475 
Corporate and other debt— 40 — 40 
Interest-only strips (elected fair value)— — 22 22 
Total securities available for sale— 8,329 22 8,351 
Other assets:
Deferred compensation mutual funds122 — — 122 
Equity, mutual funds, and other25 — — 25 
Derivatives, forwards and futures145 — — 145 
Derivatives, interest rate contracts— 414 — 414 
Derivatives, other— 2 — 2 
Total other assets292 416 — 708 
Total assets$292 $10,258 $51 $10,601 
Trading liabilities:
U.S. treasuries$— $361 $— $361 
Other U.S.government agencies— 20 — 20 
Government agency issued MBS— 8 — 8 
Corporate and other debt— 65 — 65 
Total trading liabilities— 454 — 454 
Other liabilities:
Derivatives, forwards and futures116 — — 116 
Derivatives, interest rate contracts— 128 — 128 
Derivatives, other— 2 21 23 
Total other liabilities116 130 21 267 
Total liabilities$116 $584 $21 $721 
 December 31, 2020
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $81 $— $81 
Government agency issued MBS— 633 — 633 
Government agency issued CMO— 212 — 212 
Other U.S. government agencies— 62 — 62 
States and municipalities— 7 — 7 
Corporate and other debt— 181 — 181 
Total trading securities— 1,176 — 1,176 
Loans held for sale (elected fair value)— 393 12 405 
Loans held for investment (elected fair value)— — 16 16 
Securities available for sale:
U.S. treasuries— 613 — 613 
Government agency issued MBS— 3,812 — 3,812 
Government agency issued CMO— 2,406 — 2,406 
Other U.S. government agencies— 684 — 684 
States and municipalities— 460 — 460 
Corporate and other debt— 40 — 40 
Interest-only strips (elected fair value)— — 32 32 
Total securities available for sale— 8,015 32 8,047 
Other assets:
Deferred compensation mutual funds118 — — 118 
Equity, mutual funds, and other25 — — 25 
Derivatives, forwards and futures63 — — 63 
Derivatives, interest rate contracts— 702 — 702 
Derivatives, other— 4 — 4 
Total other assets206 706 — 912 
Total assets$206 $10,290 $60 $10,556 
Trading liabilities:
U.S. treasuries$— $307 $— $307 
Government agency issued MBS— 3 — 3 
Corporates and other debt— 43 — 43 
Total trading liabilities— 353 — 353 
Other liabilities:
Derivatives, forwards and futures71 — — 71 
Derivatives, interest rate contracts— 60 — 60 
Derivatives, other— 4 14 18 
Total other liabilities71 64 14 149 
Total liabilities$71 $417 $14 $502 
Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value
The changes in Level 3 assets and liabilities measured at fair value for the three months ended March 31, 2021 and 2020 on a recurring basis are summarized as follows:
 Three Months Ended March 31, 2021 
(Dollars in millions)Interest- only strips- AFSLoans held
for sale		Loans held for investmentNet  derivative
liabilities
Balance on January 1, 2021$32 $12 $16 $(14)
Total net gains (losses) included in net income5 1 — (9)
Purchases— — — — 
Sales(27)— — — 
Settlements— (1)(2)2 
Net transfers into (out of) Level 312 (b)— 3 — 
Balance on March 31, 2021$22 $12 $17 $(21)
Net unrealized gains (losses) included in net income$2 (c)$1 (a)$— $(9)(d)
 
 Three Months Ended March 31, 2020 
(Dollars in millions)Trading
securities		Interest-only-strips-AFSLoans held for saleNet  derivative
liabilities
Balance on January 1, 2020$1 $19  $14 $(23)
Total net gains (losses) included in net income— (1) — — 
Purchases— 5 — — 
Sales— (8)— — 
Settlements— — (1)2 
Net transfers into (out of) Level 3— 8 (b)— — 
Balance on March 31, 2020$1 $23  $13 $(21)
Net unrealized gains (losses) included in net income$— (a)$(1)(c)$— (a)$— (d)
(a)Primarily included in mortgage banking and title income on the Consolidated Statements of Income.
(b)Transfers into interest-only strips - AFS level 3 measured on a recurring basis reflect movements from loans held for sale (Level 2 nonrecurring).
(c)Primarily included in Fixed income on the Consolidated Statements of Income.
(d)Included in Other expense.
Nonrecurring Fair Value Measurements For assets measured at fair value on a nonrecurring basis which were still held on the Consolidated Balance Sheets at March 31, 2021, and December 31, 2020, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.
 Carrying value at March 31, 2021
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $299 $1 $300 
Loans held for sale—first mortgages— — 1 1 
Loans and leases (a)— — 69 69 
OREO (b)— — 11 11 
Other assets (c)— — 11 11 
 
 Carrying value at December 31, 2020
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $508 $1 $509 
Loans held for sale—first mortgages— — 1 1 
Loans and leases (a)— — 77 77 
OREO (b)— — 15 15 
Other assets (c)— — 9 9 
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.
(c)Represents tax credit investments accounted for under the equity method.
Gains/(losses) on Nonrecurring Fair Value Measurements
For assets measured on a nonrecurring basis which were still held on the Consolidated Balance Sheets at period end, the following table provides information about the fair value adjustments recorded during the three months ended March 31, 2021 and 2020: 
Net gains (losses)
Three Months Ended March 31
(Dollars in millions)20212020
Loans held for sale—SBAs and USDA$(1)$(1)
Loans and leases (a)(7)(5)
$(8)$(6)
(a)Write-downs on these loans are recognized as part of provision for credit losses.
Schedule Of Unobservable Inputs Utilized In Determining The Fair Value Of Level 3 Recurring And Non-Recurring Measurements
The following tables provide information regarding the unobservable inputs utilized in determining the fair value of Level 3 recurring and non-recurring measurements as of March 31, 2021 and December 31, 2020: 
(Dollars in millions)Values Utilized
Level 3 ClassFair Value at March 31, 2021Valuation TechniquesUnobservable InputRangeWeighted Average (d)
Available for sale securities SBA-interest only strips$22 Discounted cash flowConstant prepayment rate12%12%
Bond equivalent yield
10% - 13%
11%
Loans held for sale - residential real estate$13 Discounted cash flowPrepayment speeds - First mortgage
4% - 13%
5%
Foreclosure losses
57% - 65%
62%
Loss severity trends - First mortgage
9% - 17%
of UPB
12%
Loans held for sale - unguaranteed interest in SBA loans$1 Discounted cash flowConstant prepayment rate
8% - 12%
10%
Bond equivalent yield8%8%
Loans held for investment$17 Discounted cash flowConstant prepayment rate
0% - 46%
31%
Constant default rate
0% - 15%
1%
Loss severity trends
0% - 93%
7%
Derivative liabilities, other$21 Discounted cash flowVisa covered litigation resolution amount
$5.4 billion - $6.0 billion
$5.8 billion
Probability of resolution scenarios
10% - 50%
16%
   Time until resolution
12 - 36 months
26 months
Loans and leases (a)$69 Appraisals from comparable propertiesMarketability adjustments for specific properties
0% - 10%
of appraisal
NM
Other collateral valuationsBorrowing base certificates adjustment
20% - 50% of gross value
NM
   Financial Statements/Auction values adjustment
0% - 25%
of reported value
NM
OREO (b)$11 Appraisals from comparable propertiesAdjustment for value changes since appraisal
0% - 10%
of appraisal
NM
Other assets (c)$11 Discounted cash flowAdjustments to current sales yields for specific properties
0% - 15% adjustment to yield
NM
  Appraisals from comparable propertiesMarketability adjustments for specific properties
0% - 25%
of appraisal
NM
 NM - Not meaningful
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.
(c)Represents tax credit investments accounted for under the equity method.
(d)Weighted averages are determined by the relative fair value of the instruments or the relative contribution to an instrument's fair value.
(Dollars in millions)Values Utilized
Level 3 ClassFair Value at December 31, 2020Valuation TechniquesUnobservable InputRangeWeighted Average (d)
Available for sale securities SBA-interest only strips$32 Discounted cash flowConstant prepayment rate12%12%
Bond equivalent yield
15% - 17%
15%
Loans held for sale - residential real estate$13 Discounted cash flowPrepayment speeds - First mortgage
5% - 15%
5%
Foreclosure losses
59% - 70%
63%
Loss severity trends - First mortgage
3% - 19%
of UPB
12%
Loans held for sale - unguaranteed interest in SBA loans$1 Discounted cash flowConstant prepayment rate
8% - 12%
10%
Bond equivalent yield
7% - 8%
7%
Loans held for investment$16 Discounted cash flowConstant prepayment rate
0% - 26%
11%
Constant default rate
0% - 14%
1%
Loss severity trends
0% - 100%
11%
Derivative liabilities, other$14 Discounted cash flowVisa covered litigation resolution amount
$5.4 billion - $6.0 billion
$5.8 billion
Probability of resolution scenarios
10% - 50%
16%
Time until resolution
3 - 27 months
19 months
Loans and leases (a)$77 Appraisals from comparable propertiesMarketability adjustments for specific properties
0% - 10%
of appraisal
NM
Other collateral valuationsBorrowing base certificates adjustment
20% - 50% of gross value
NM
Financial Statements/Auction values adjustment
0% - 25%
of reported value
NM
OREO (b)$15 Appraisals from comparable propertiesAdjustment for value changes since appraisal
0% - 10%
of appraisal
NM
Other assets (c)$9 Discounted cash flowAdjustments to current sales yields for specific properties
0% - 15% adjustment to yield
NM
Appraisals from comparable propertiesMarketability adjustments for specific properties
0% - 25%
of appraisal
NM
NM - Not meaningful
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.
(c)Represents tax credit investments accounted for under the equity method.
(d)Weighted averages are determined by the relative fair value of the instruments or the relative contribution to an instrument's fair value.
Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount
The following tables reflect the differences between the fair value carrying amount of residential real estate loans held for sale and held for investment measured at fair value in accordance with management’s election and the aggregate unpaid principal amount FHN is contractually entitled to receive at maturity.
 March 31, 2021
(Dollars in millions)Fair value
carrying
amount		Aggregate
unpaid
principal		Fair value carrying amount
less aggregate unpaid
principal
Residential real estate loans held for sale reported at fair value:
Total loans$449 $445 $4 
Nonaccrual loans2 5 (3)
Loans held for investment reported at fair value:
Total loans$17 $17 $— 
Nonaccrual loans1 1 — 
 December 31, 2020
(Dollars in millions)Fair value
carrying
amount		Aggregate
unpaid
principal		Fair value carrying amount
less aggregate unpaid
principal
Residential real estate loans held for sale reported at fair value:
Total loans$405 $442 $(37)
Nonaccrual loans2 5 (3)
Loans held for investment reported at fair value:
Total loans$16 $17 $(1)
Nonaccrual loans1 1 — 
Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings
Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table:
 Three Months Ended
March 31,
(Dollars in millions)20212020
Changes in fair value included in net income:
Mortgage banking noninterest income
Loans held for sale$(9)$— 
Summary Of Book Value And Estimated Fair Value Of Financial Instruments
The following tables summarize the book value and estimated fair value of financial instruments recorded in the Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020:
March 31, 2021
 Book
Value		Fair Value
(Dollars in millions)Level 1Level 2Level 3Total
Assets:
Loans and leases, net of allowance for loan and lease losses
Commercial:
Commercial, financial and industrial$33,509 $— $— $33,249 $33,249 
Commercial real estate12,238 — — 12,265 12,265 
Consumer:
Consumer real estate 10,831 — — 11,283 11,283 
Credit card and other1,108 — — 1,134 1,134 
Total loans and leases, net of allowance for loan and lease losses57,686 — — 57,931 57,931 
Short-term financial assets:
Interest-bearing deposits with banks11,635 11,635 — — 11,635 
Federal funds sold463 — 463 — 463 
Securities purchased under agreements to resell57 — 57 — 57 
Total short-term financial assets12,155 11,635 520 — 12,155 
Trading securities (a)1,076 — 1,076 — 1,076 
Loans held for sale:
Mortgage loans (elected fair value) (a)449 — 437 12 449 
USDA & SBA loans - LOCOM300 — 299 1 300 
Other loans - LOCOM4 — 4 — 4 
Mortgage loans - LOCOM58 — — 58 58 
Total loans held for sale811 — 740 71 811 
Securities available for sale (a)8,351 — 8,329 22 8,351 
Derivative assets (a)561 145 416 — 561 
Other assets:
Tax credit investments410 — — 400 400 
Deferred compensation mutual funds122 122 — — 122 
Equity, mutual funds, and other (b)262 25 — 237 262 
Total other assets794 147 — 637 784 
Total assets$81,434 $11,927 $11,081 $58,661 $81,669 
Liabilities:
Defined maturity deposits$4,653 $— $4,664 $— $4,664 
Trading liabilities (a)454 — 454 — 454 
Short-term financial liabilities:
Federal funds purchased982 — 982 — 982 
Securities sold under agreements to repurchase1,098 — 1,098 — 1,098 
Other short-term borrowings122 — 122 — 122 
Total short-term financial liabilities2,202 — 2,202 — 2,202 
Term borrowings:
Real estate investment trust-preferred46 — — 47 47 
Term borrowings—new market tax credit investment45 — — 45 45 
Secured borrowings15 — — 15 15 
Junior subordinated debentures239 — — 237 237 
Other long term borrowings1,326 — 1,462 — 1,462 
Total term borrowings1,671 — 1,462 344 1,806 
Derivative liabilities (a)265 116 130 21 267 
Total liabilities$9,245 $116 $8,912 $365 $9,393 
(a)Classes are detailed in the recurring and nonrecurring measurement tables.
(b)Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $34 million and FRB stock of $202 million.
 December 31, 2020
 Book
Value		Fair Value
(Dollars in millions)Level 1Level 2Level 3Total
Assets:
Loans and leases and allowance for loan and lease losses
Commercial:
Commercial, financial and industrial$32,651 $— $— $32,582 $32,582 
Commercial real estate12,033 — — 12,079 12,079 
Consumer:
Consumer real estate 11,483 — — 11,903 11,903 
Credit card and other1,102 — — 1,131 1,131 
Total loans and leases, net of allowance for loan and lease losses57,269 — — 57,695 57,695 
Short-term financial assets:
Interest-bearing deposits with banks8,351 8,351 — — 8,351 
Federal funds sold65 — 65 — 65 
Securities purchased under agreements to resell380 — 380 — 380 
Total short-term financial assets8,796 8,351 445 — 8,796 
Trading securities (a)1,176 — 1,176 — 1,176 
Loans held for sale:
Mortgage loans (elected fair value) (a)405 — 393 12 405 
USDA & SBA loans - LOCOM509 — 511 1 512 
Other loans - LOCOM31 — 31 — 31 
Mortgage loans - LOCOM77 — — 77 77 
Total loans held for sale1,022 — 935 90 1,025 
Securities available for sale (a) 8,047 — 8,015 32 8,047 
Derivative assets (a)770 63 706 — 769 
Other assets:
Tax credit investments400 — — 371 371 
Deferred compensation mutual funds118 118 — — 118 
Equity, mutual funds, and other (b)288 25 — 263 288 
Total other assets806 143 — 634 777 
Total assets$77,886 $8,557 $11,277 $58,451 $78,285 
Liabilities:
Defined maturity deposits$5,070 $— $5,083 $— $5,083 
Trading liabilities (a)353 — 353 — 353 
Short-term financial liabilities:
Federal funds purchased845 — 845 — 845 
Securities sold under agreements to repurchase1,187 — 1,187 — 1,187 
Other short-term borrowings166 — 166 — 166 
Total short-term financial liabilities2,198 — 2,198 — 2,198 
Term borrowings:
Real estate investment trust-preferred46 — — 47 47 
Term borrowings—new market tax credit investment45 — — 45 45 
Secured borrowings15 — — 15 15 
Junior subordinated debentures238 — — 223 223 
Other long term borrowings1,326 — 1,455 — 1,455 
Total term borrowings1,670 — 1,455 330 1,785 
Derivative liabilities (a)149 71 64 14 149 
Total liabilities$9,440 $71 $9,153 $344 $9,568 
(a)Classes are detailed in the recurring and nonrecurring measurement tables.
(b)Level 1 primarily consists of mutual funds with readily determinable fair values. Level 3 includes restricted investments in FHLB-Cincinnati stock of $61 million and FRB stock of $202 million.
The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of March 31, 2021 and December 31, 2020:
 Contractual AmountFair Value
(Dollars in millions)March 31, 2021December 31, 2020March 31, 2021December 31, 2020
Unfunded Commitments:
Loan commitments$20,881 $20,796 $1 $2 
Standby and other commitments720 751 6 6