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Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2022
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, 2022 and December 31, 2021:
BALANCES OF ASSETS & LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS
 March 31, 2022
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $65 $— $65 
Government agency issued MBS— 363 — 363 
Government agency issued CMO— 315 — 315 
Other U.S. government agencies— 274 — 274 
States and municipalities— 13 — 13 
Corporate and other debt— 781 — 781 
Interest-only strips (elected fair value)— — 12 12 
Total trading securities— 1,811 12 1,823 
Loans held for sale (elected fair value)— 161 32 193 
Securities available for sale:
Government agency issued MBS— 5,046 — 5,046 
Government agency issued CMO— 2,715 — 2,715 
Other U.S. government agencies— 936 — 936 
States and municipalities— 545 — 545 
Total securities available for sale— 9,242 — 9,242 
Other assets:
Deferred compensation mutual funds123 — — 123 
Equity, mutual funds, and other23 — — 23 
Derivatives, forwards and futures85 — — 85 
Derivatives, interest rate contracts— 134 — 134 
Derivatives, other— 1 — 1 
Total other assets231 135 — 366 
Total assets$231 $11,349 $44 $11,624 
Trading liabilities:
U.S. treasuries$— $440 $— $440 
Corporate and other debt— 73 — 73 
Total trading liabilities— 513 — 513 
Other liabilities:
Derivatives, forwards and futures70 — — 70 
Derivatives, interest rate contracts— 358 — 358 
Derivatives, other— 1 18 19 
Total other liabilities70 359 18 447 
Total liabilities$70 $872 $18 $960 
 December 31, 2021
(Dollars in millions)Level 1Level 2Level 3Total
Trading securities:
U.S. treasuries$— $85 $— $85 
Government agency issued MBS— 464 — 464 
Government agency issued CMO— 62 — 62 
Other U.S. government agencies— 276 — 276 
States and municipalities— 34 — 34 
Corporate and other debt— 642 — 642 
Interest-only strips (elected fair value)— — 38 38 
Total trading securities— 1,563 38 1,601 
Loans held for sale (elected fair value)— 230 28 258 
Securities available for sale:
Government agency issued MBS— 5,055 — 5,055 
Government agency issued CMO— 2,257 — 2,257 
Other U.S. government agencies— 850 — 850 
States and municipalities— 545 — 545 
Total securities available for sale— 8,707 — 8,707 
Other assets:
Deferred compensation mutual funds125 — — 125 
Equity, mutual funds, and other25 — — 25 
Derivatives, forwards and futures12 — — 12 
Derivatives, interest rate contracts— 311 — 311 
Derivatives, other— 1 — 1 
Total other assets162 312 — 474 
Total assets$162 $10,812 $66 $11,040 
Trading liabilities:
U.S. treasuries$— $334 $— $334 
Government agency issued MBS— 1 — 1 
Corporate and other debt— 91 — 91 
Total trading liabilities— 426 — 426 
Other liabilities:
Derivatives, forwards and futures11 — — 11 
Derivatives, interest rate contracts— 93 — 93 
Derivatives, other— 1 23 24 
Total other liabilities11 94 23 128 
Total liabilities$11 $520 $23 $554 
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, 2022 and 2021 on a recurring basis are summarized as follows:
CHANGES IN LEVEL 3 ASSETS & LIABILITIES MEASURED AT FAIR VALUE
 Three Months Ended March 31, 2022 
(Dollars in millions)Interest- only stripsLoans held
for sale		Net 
derivative
liabilities
Balance on January 1, 2022$38 $28 $(23)
Purchases— 1 — 
Sales(37)— — 
Settlements— (1)5 
Net transfers into (out of) Level 311 (b)4 — 
Balance on March 31, 2022$12 $32 $(18)
Net unrealized gains (losses) included in net income$(1)(c)$— (a)$— (d)
 
 Three Months Ended March 31, 2021 
(Dollars in millions)Interest-only strips-AFSLoans held for saleLoans
 held for investment		Net 
derivative
liabilities
Balance on January 1, 2021$32  $12 $16 $(14)
Total net gains (losses) included in net income5  1 — (9)
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)$1 (a)$— $(9)(d)
(a)Primarily included in mortgage banking and title income on the Consolidated Statements of Income.
(b)Transfers into interest-only strips level 3 measured on a recurring basis reflect movements from loans held for sale (Level 2 nonrecurring).
(c)Primarily included in fixed income on the Consolidated Statements of Income.
(d)Included in other expense.
Nonrecurring Fair Value Measurements For assets measured at fair value on a nonrecurring basis which were still held on the Consolidated Balance Sheets at March 31, 2022, and December 31, 2021, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value.
LEVEL OF VALUATION ASSUMPTIONS FOR ASSETS MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS
 Carrying value at March 31, 2022
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $782 $1 $783 
Loans held for sale—first mortgages— — 1 1 
Loans and leases (a)— — 106 106 
OREO (b)— — 3 3 
Other assets (c)— — 30 30 
 
 Carrying value at December 31, 2021
(Dollars in millions)Level 1Level 2Level 3Total
Loans held for sale—SBAs and USDA$— $852 $1 $853 
Loans held for sale—first mortgages— — 1 1 
Loans and leases (a)— — 84 84 
OREO (b)— — 3 3 
Other assets (c)— — 30 30 
(a)Represents carrying value of loans for which adjustments are required to be based on the appraised value of the collateral less estimated costs to sell. Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents the fair value and related losses of foreclosed properties that were measured subsequent to their initial classification as OREO. Balance excludes OREO related to government insured mortgages.
(c)Represents tax credit investments accounted for under the equity method.
Gains/(losses) on Nonrecurring Fair Value Measurements
For assets measured on a nonrecurring basis which were still held on the Consolidated Balance Sheets at period end, the following table provides information about the fair value adjustments recorded during the three months ended March 31, 2022 and 2021:
FAIR VALUE ADJUSTMENTS ON ASSETS MEASURED ON A NONRECURRING BASIS
Net gains (losses)
Three Months Ended March 31,
(Dollars in millions)20222021
Loans held for sale—SBAs and USDA$(3)$(1)
Loans and leases (a)(2)(7)
Other assets (b)(1)— 
$(6)$(8)
(a)Write-downs on these loans are recognized as part of provision for credit losses.
(b)Represents tax credit investments accounted for under the equity method.
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, 2022 and December 31, 2021:
UNOBSERVABLE INPUTS USED IN LEVEL 3 FAIR VALUE MEASUREMENTS
(Dollars in millions)Values Utilized
Level 3 ClassFair Value at March 31, 2022Valuation TechniquesUnobservable InputRangeWeighted Average (d)
Trading securities - SBA interest-only strips$12 Discounted cash flowConstant prepayment rate
11% - 12%
11%
Bond equivalent yield
11% - 13%
11%
Loans held for sale - residential real estate$33 Discounted cash flowPrepayment speeds - First mortgage
3% - 12%
5%
Foreclosure losses
55% - 65%
65%
Loss severity trends - First mortgage
1% - 13%
of UPB
7%
Loans held for sale - unguaranteed interest in SBA loans$1 Discounted cash flowConstant prepayment rate
8% - 12%
10%
Bond equivalent yield9%9%
Derivative liabilities, other$18 Discounted cash flowVisa covered litigation resolution amount
$5.8 billion - $6.2 billion
$6.0 billion
Probability of resolution scenarios
15% - 35%
24%
   Time until resolution
9 - 33 months
22 months
Loans and leases (a)$106 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)$3 Appraisals from comparable propertiesAdjustment for value changes since appraisal
0% - 10%
of appraisal
NM
Other assets (c)$30 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, 2021Valuation TechniquesUnobservable InputRangeWeighted Average (d)
Trading securities - SBA interest-only strips$38 Discounted cash flowConstant prepayment rate
11% - 12%
11%
Bond equivalent yield
11% - 14%
11%
Loans held for sale - residential real estate$29 Discounted cash flowPrepayment speeds - First mortgage
4% - 12%
5%
Foreclosure losses
54% - 66%
65%
Loss severity trends - First mortgage
1% - 14%
of UPB
8%
Loans held for sale - unguaranteed interest in SBA loans$1 Discounted cash flowConstant prepayment rate
8% - 12%
10%
Bond equivalent yield
11%
11%
Derivative liabilities, other$23 Discounted cash flowVisa covered litigation resolution amount
$5.8 billion - $6.2 billion
$6.0 billion
Probability of resolution scenarios
15% - 35%
24%
Time until resolution
12 - 36 months
25 months
Loans and leases (a)$84 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)$3 Appraisals from comparable propertiesAdjustment for value changes since appraisal
0% - 10%
of appraisal
NM
Other assets (c)$30 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.
DIFFERENCES BETWEEN FAIR VALUE CARRYING AMOUNTS AND CONTRACTUAL AMOUNTS OF RESIDENTIAL REAL ESTATE LOANS REPORTED AT FAIR VALUE
 March 31, 2022
(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$193 $199 $(6)
Nonaccrual loans4 8 (4)
 December 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$258 $264 $(6)
Nonaccrual loans4 7 (3)
Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings
Assets and liabilities accounted for under the fair value election are initially measured at fair value with subsequent changes in fair value recognized in earnings. Such changes in the fair value of assets and liabilities for which FHN elected the fair value option are included in current period earnings with classification in the income statement line item reflected in the following table:
CHANGES IN FAIR VALUE RECOGNIZED IN NET INCOME
 Three Months Ended
March 31,
(Dollars in millions)20222021
Changes in fair value included in net income:
Mortgage banking and title noninterest income
Loans held for sale$(8)$(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, 2022 and December 31, 2021:
BOOK VALUE AND ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS
March 31, 2022
 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$30,511 $— $— $30,927 $30,927 
Commercial real estate12,336 — — 12,735 12,735 
Consumer:
Consumer real estate 10,710 — — 10,893 10,893 
Credit card and other833 — — 870 870 
Total loans and leases, net of allowance for loan and lease losses54,390 — — 55,425 55,425 
Short-term financial assets:
Interest-bearing deposits with banks13,548 13,548 — — 13,548 
Federal funds sold73 — 73 — 73 
Securities purchased under agreements to resell567 — 567 — 567 
Total short-term financial assets14,188 13,548 640 — 14,188 
Trading securities (a)1,823 — 1,811 12 1,823 
Loans held for sale:
Mortgage loans (elected fair value) (a)193 — 161 32 193 
USDA & SBA loans - LOCOM783 — 784 1 785 
Other loans - LOCOM4 — 4 — 4 
Mortgage loans - LOCOM34 — — 34 34 
Total loans held for sale1,014 — 949 67 1,016 
Securities available for sale (a)9,242 — 9,242 — 9,242 
Securities held to maturity701 — 650 — 650 
Derivative assets (a)220 85 135 — 220 
Other assets:
Tax credit investments486 — — 480 480 
Deferred compensation mutual funds123 123 — — 123 
Equity, mutual funds, and other (b)255 23 — 232 255 
Total other assets864 146 — 712 858 
Total assets$82,442 $13,779 $13,427 $56,216 $83,422 
Liabilities:
Defined maturity deposits$3,165 $— $3,175 $— $3,175 
Trading liabilities (a)513 — 513 — 513 
Short-term financial liabilities:
Federal funds purchased798 — 798 — 798 
Securities sold under agreements to repurchase760 — 760 — 760 
Other short-term borrowings161 — 161 — 161 
Total short-term financial liabilities1,719 — 1,719 — 1,719 
Term borrowings:
Real estate investment trust-preferred46 — — 47 47 
Term borrowings—new market tax credit investment59 — — 56 56 
Secured borrowings6 — — 6 6 
Junior subordinated debentures148 — — 150 150 
Other long term borrowings1,332 — 1,392 — 1,392 
Total term borrowings1,591 — 1,392 259 1,651 
Derivative liabilities (a)447 70 359 18 447 
Total liabilities$7,435 $70 $7,158 $277 $7,505 
(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 $29 million and FRB stock of $203 million.
 December 31, 2021
 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$30,734 $— $— $31,020 $31,020 
Commercial real estate11,955 — — 11,986 11,986 
Consumer:
Consumer real estate 10,609 — — 11,111 11,111 
Credit card and other891 — — 906 906 
Total loans and leases, net of allowance for loan and lease losses54,189 — — 55,023 55,023 
Short-term financial assets:
Interest-bearing deposits with banks14,907 14,907 — — 14,907 
Federal funds sold153 — 153 — 153 
Securities purchased under agreements to resell488 — 488 — 488 
Total short-term financial assets15,548 14,907 641 — 15,548 
Trading securities (a)1,601 — 1,563 38 1,601 
Loans held for sale:
Mortgage loans (elected fair value) (a)258 — 230 28 258 
USDA & SBA loans - LOCOM853 — 855 1 856 
Other loans - LOCOM24 — 24 — 24 
Mortgage loans - LOCOM37 — — 37 37 
Total loans held for sale1,172 — 1,109 66 1,175 
Securities available for sale (a) 8,707 — 8,707 — 8,707 
Securities held to maturity712 — 705 — 705 
Derivative assets (a)324 12 312 — 324 
Other assets:
Tax credit investments456 — — 450 450 
Deferred compensation mutual funds125 125 — — 125 
Equity, mutual funds, and other (b)257 25 — 232 257 
Total other assets838 150 — 682 832 
Total assets$83,091 $15,069 $13,037 $55,809 $83,915 
Liabilities:
Defined maturity deposits$3,500 $— $3,524 $— $3,524 
Trading liabilities (a)426 — 426 — 426 
Short-term financial liabilities:
Federal funds purchased775 — 775 — 775 
Securities sold under agreements to repurchase1,247 — 1,247 — 1,247 
Other short-term borrowings102 — 102 — 102 
Total short-term financial liabilities2,124 — 2,124 — 2,124 
Term borrowings:
Real estate investment trust-preferred46 — — 47 47 
Term borrowings—new market tax credit investment59 — — 58 58 
Secured borrowings6 — — 6 6 
Junior subordinated debentures148 — — 150 150 
Other long term borrowings1,331 — 1,452 — 1,452 
Total term borrowings1,590 — 1,452 261 1,713 
Derivative liabilities (a)128 11 94 23 128 
Total liabilities$7,768 $11 $7,620 $284 $7,915 
(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 $29 million and FRB stock of $203 million.
The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of March 31, 2022 and December 31, 2021:
UNFUNDED COMMITMENTS
 Contractual AmountFair Value
(Dollars in millions)March 31, 2022December 31, 2021March 31, 2022December 31, 2021
Unfunded Commitments:
Loan commitments$24,607 $24,229 $1 $1 
Standby and other commitments698 810 6 6