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Business Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
FHN's operating segments are composed of the following:
•Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to consumer and commercial clients primarily in the southern U.S. and other selected markets. Regional Banking also provides investment, wealth management, financial planning, trust and asset management services for consumer clients.
•Specialty Banking segment consists of lines of business that deliver product offerings and services with specialized industry knowledge. Specialty Banking’s lines of business include asset-based lending, mortgage warehouse lending, commercial real estate, franchise finance, correspondent banking, equipment finance, mortgage, and title insurance. In addition to traditional lending and deposit taking, Specialty Banking also delivers treasury management solutions, loan syndications, and international banking. Additionally, Specialty Banking has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales.
•Corporate segment consists primarily of corporate support functions including risk management, audit, accounting, finance, executive office, and corporate
communications. Shared support services such as human resources, properties, technology, credit risk and bank operations are allocated to the activities of Regional Banking, Specialty Banking and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of wholesale funding, liquidity, and capital management and allocation. The Corporate segment also includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses.
Periodically, FHN adapts its segments to reflect managerial or strategic changes. FHN may also modify its methodology of allocating expenses and equity among segments which could change historical segment results. Business segment revenue, expense, asset, and equity levels reflect those which are specifically identifiable or which are allocated based on an internal allocation method. Because the allocations are based on internally developed assignments and allocations, to an extent they are subjective. Generally, all assignments and allocations have been consistently applied for all periods presented.
The following tables present financial information for each reportable business segment for the three and six months ended June 30, 2022 and 2021:

SEGMENT FINANCIAL INFORMATION
Three Months Ended June 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$465 $141 $(64)$542 
Provision for credit losses52 (18)(4)30 
Noninterest income114 96 (9)201 
Noninterest expense (a)297 116 75 488 
Income (loss) before income taxes230 139 (144)225 
Income tax expense (benefit)54 34 (40)48 
Net income (loss)$176 $105 $(104)$177 
Average assets$41,952 $20,227 $24,147 $86,326 

Three Months Ended June 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$444 $153 $(100)$497 
Provision for credit losses(88)(21)(6)(115)
Noninterest income109 149 27 285 
Noninterest expense (a)270 145 83 498 
Income (loss) before income taxes371 178 (150)399 
Income tax expense (benefit)87 43 (42)88 
Net income (loss)$284 $135 $(108)$311 
Average assets$42,352 $20,104 $25,103 $87,559 
(a) 2022 and 2021 includes $38 million and $32 million, respectively, in merger and integration expenses related to the IBKC merger and Proposed TD Merger in the Corporate segment.
Six Months Ended June 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$891 $285 $(155)$1,021 
Provision for credit losses21 (21)(10)(10)
Noninterest income227 201 2 430 
Noninterest expense (a)598 252 132 982 
Income (loss) before income taxes499 255 (275)479 
Income tax expense (benefit)117 62 (74)105 
Net income (loss)$382 $193 $(201)$374 
Average assets$41,251 $20,236 $25,963 $87,450 

Six Months Ended June 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Net interest income (expense)$875 $312 $(183)$1,004 
Provision for credit losses(117)(28)(15)(160)
Noninterest income210 335 38 583 
Noninterest expense (a)545 303 194 1,042 
Income (loss) before income taxes657 372 (324)705 
Income tax expense (benefit)153 90 (84)159 
Net income (loss)$504 $282 $(240)$546 
Average assets$42,451 $20,825 $23,210 $86,486 
(a) 2022 and 2021 includes $75 million and $102 million, respectively, in merger and integration expenses related to the IBKC merger and Proposed TD Merger in the Corporate segment.

The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the three and six months ended June 30, 2022 and 2021:

NONINTEREST INCOME DETAIL BY SEGMENT
Three months ended June 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$— $51 $— $51 
Deposit transactions and cash management38 2 2 42 
Mortgage banking and title income— 34 — 34 
Brokerage, management fees and commissions24 — — 24 
Card and digital banking fees21 — 2 23 
Other service charges and fees9 6 — 15 
Trust services and investment management12 — — 12 
Deferred compensation income— — (17)(17)
Other income (c)10 3 4 17 
Total noninterest income$114 $96 $(9)$201 
Three months ended June 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$— $102 $— $102 
Deposit transactions and cash management39 3 2 44 
Mortgage banking and title income— 38 — 38 
Brokerage, management fees and commissions21 — — 21 
Card and digital banking fees18 1 2 21 
Other service charges and fees6 4 1 11 
Trust services and investment management14 — — 14 
Securities gains (losses), net (b)— — 11 11 
Deferred compensation income — — 7 7 
Other income (c)11 1 4 16 
Total noninterest income$109 $149 $27 $285 
(a)2022 and 2021 includes $10 million and $14 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers."
(b)Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total noninterest income.
(c)Includes letter of credit fees and insurance commissions in scope of ASC 606.

Six Months Ended June 30, 2022
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$— $124 $— $124 
Deposit transactions and cash management77 5 4 86 
Mortgage banking and title income— 56 — 56 
Brokerage, management fees and commissions48 — — 48 
Card and digital banking fees38 1 4 43 
Other service charges and fees16 11 1 28 
Trust services and investment management25 — — 25 
Securities gains (losses), net (b)— — 6 6 
Deferred compensation income— — (21)(21)
Other income (c)23 4 8 35 
Total noninterest income$227 $201 $2 $430 
Six Months Ended June 30, 2021
(Dollars in millions)Regional BankingSpecialty BankingCorporateConsolidated
Noninterest income:
Fixed income (a)$1 $227 $— $228 
Deposit transactions and cash management77 6 3 86 
Mortgage banking and title income— 90 1 91 
Brokerage, management fees and commissions41 — — 41 
Card and digital banking fees32 2 4 38 
Other service charges and fees12 7 2 21 
Trust services and investment management26 — — 26 
Securities gains (losses), net (b)— — 11 11 
Deferred compensation income— — 9 9 
Other income (c)21 3 8 32 
Total noninterest income$210 $335 $38 $583 

(a)2022 and 2021 includes $21 million and $24 million for 2022 and 2021, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers."
(b)Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total noninterest income.
(c)Includes letter of credit fees and insurance commissions in scope of ASC 606.