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Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Information Pertaining to Term Borrowings The following table presents information pertaining to term borrowings as of December 31, 2021 and 2020:
Table 8.11.1
TERM BORROWINGS
(Dollars in millions)20212020
First Horizon Bank:
Subordinated notes (a)
Maturity date – May 1, 2030 - 5.75%
$447 $447 
Other collateralized borrowings - Maturity date – December 22, 2037
0.50% on December 31, 2021 and 0.52% on December 31, 2020 (b)
87 82 
Other collateralized borrowings - SBA loans (c)6 15 
First Horizon Corporation:
Senior notes
Maturity date – May 26, 2023 - 3.55%
448 447 
Maturity date – May 26, 2025 - 4.00%
349 348 
Junior subordinated debentures (d)
Maturity date - July 31, 2031 - 3.51% on December 31, 2020
— 7 
Maturity date - November 15, 2032 - 3.50% on December 31, 2020
— 9 
Maturity date - March 26, 2033 - 3.40% on December 31, 2020
— 5 
Maturity date - June 17, 2033 - 3.40% on December 31, 2020
— 9 
Maturity date - March 17, 2034 - 3.02% on December 31, 2020
— 6 
Maturity date - September 20, 2034 - 2.25% on December 31, 2020
— 8 
Maturity date - June 28, 2035 - 1.88% on December 31, 2021 and 1.90% on December 31, 2020
3 3 
Maturity date - December 15, 2035 - 1.57% on December 31, 2021 and 1.59% on December 31, 2020
18 18 
Maturity date - March 15, 2036 - 1.60% on December 31, 2021 and 1.62% on December 31, 2020
9 9 
Maturity date - March 15, 2036 - 1.74% on December 31, 2021 and 1.76% on December 31, 2020
12 12 
Maturity date - June 30, 2036 - 1.54% on December 31, 2021 and 1.56% on December 31, 2020
27 27 
Maturity date - July 7, 2036 - 1.67% on December 31, 2021 and 1.79% on December 31, 2020
18 18 
Maturity date - October 7, 2036 - 1.88% on December 31, 2020
— 6 
Maturity date - December 30, 2036 - 1.84% on December 31, 2020
— 10 
Maturity date - June 15, 2037 - 1.85% on December 31, 2021 and 1.87% on December 31, 2020
52 51 
Maturity date - September 6, 2037 - 1.61% on December 31, 2021 and 1.66% on December 31, 2020
9 9 
Maturity date - September 15, 2037 - 1.65% on December 31, 2020
— 7 
Maturity date - December 15, 2037 - 2.76% on December 31, 2020
— 10 
Maturity date - December 15, 2037 - 2.97% on December 31, 2020
— 10 
Maturity date - June 15, 2038 - 3.72% on December 31, 2020
— 6 
Notes payable - New market tax credit investments; 7 to 35 year term, 0.93% to 4.95% on December 31, 2021; 1.27% to 4.95% on December 31, 2020
59 45 
FT Real Estate Securities Company, Inc.:
Cumulative preferred stock (e)
Maturity date – March 31, 2031 – 9.50%
46 46 
Total$1,590 $1,670 
(a)Qualifies for Tier 2 capital under the risk-based capital guidelines for First Horizon Bank as well as First Horizon Corporation up to certain limits for minority interest capital instruments.
(b)Secured by trust preferred loans.
(c)Collateralized borrowings associated with SBA loan sales that did not meet sales criteria. The loans have remaining terms of 4 to 25 years. These borrowings had a weighted average interest rate of 4.10% and 3.90% on December 31, 2021 and 2020, respectively.
(d)Acquired in conjunction with the acquisitions of CBF and merger with IBKC. The legacy IBKC junior subordinated debentures were early redeemed in 2021. A portion qualifies for Tier 2 capital under the risk-based capital guidelines.
(e)Qualifies for Tier 2 capital under the risk-based capital guidelines for both First Horizon Bank and First Horizon Corporation up to certain limits for minority interest capital instruments.
Schedule of Annual Principal Repayment Requirements
Annual principal repayment requirements as of December 31, 2021 are as follows:
Table 8.11.2
ANNUAL PRINCIPAL REPAYMENT SCHEDULE
(Dollars in millions) 
2022$— 
2023450 
20246 
2025350 
2026 and after807