Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting, Measurement Disclosures [Abstract]

Schedule of Segment Financial Information

The following table presents financial information for each reportable business segment for the years ended December 31:

Table 8.19.1

SEGMENT FINANCIAL INFORMATION


	2022
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	1,954	$	557	$	(119)	$	2,392
Provision for credit losses	94		14		(13)		95
Noninterest income (a)	444		311		60		815
Noninterest expense (b)(f)	1,234		440		279		1,953
Income (loss) before income taxes	1,070		414		(325)		1,159
Income tax expense (benefit)	251		101		(105)		247
Net income (loss)	$	819	$	313	$	(220)	$	912
Average assets	$	42,295	$	19,967	$	21,955	$	84,217
Depreciation and amortization	11		(7)		60		64
Expenditures for long-lived assets	18		12		(6)		24


	2021
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	1,764	$	620	$	(390)	$	1,994
Provision for credit losses	(229)		(64)		(17)		(310)
Noninterest income	438		597		41		1,076
Noninterest expense (b)(c)(f)	1,139		571		386		2,096
Income (loss) before income taxes	1,292		710		(718)		1,284
Income tax expense (benefit)	303		171		(200)		274
Net income (loss)	$	989	$	539	$	(518)	$	1,010
Average assets	$	41,527	$	20,789	$	25,293	$	87,609
Depreciation and amortization	(67)		(3)		98		28
Expenditures for long-lived assets	27		3		7		37


	2020
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Net interest income (expense)	$	1,287	$	576	$	(201)	$	1,662
Provision for credit losses (e)	392		116		(5)		503
Noninterest income (a)	345		576		571		1,492
Noninterest expense (b)(c)(d)	903		498		317		1,718
Income (loss) before income taxes	337		538		58		933
Income tax expense (benefit)	73		131		(128)		76
Net income (loss)	$	264	$	407	$	186	$	857
Average assets	$	31,890	$	19,809	$	12,647	$	64,346
Depreciation and amortization	(39)		3		82		46
Expenditures for long-lived assets	283		6		90		379

(a) 2022 includes a $22 million gain related to the sale of the title insurance business in the Corporate segment. 2020 includes a $533 million purchase accounting gain associated with the IBKC merger in the Corporate segment.

(b) 2022, 2021, and 2020 include $136 million, $187 million and $155 million, respectively, in merger and integration expenses related to the IBKC merger and Pending TD Merger in the Corporate segment.

(d) 2020 includes $41 million of contributions to FHN's foundations.

(e) The provision for credit losses in 2020 was impacted by the provision related to non-PCD loans acquired in the IBKC merger and Truist branch acquisition and the economic forecast attributable to the COVID-19 pandemic.

(f) 2022 and 2021 include $22 million and $19 million, respectively, in derivative valuation adjustments related to prior sales of Visa Class B shares in the Corporate segment.

The following table presents a disaggregation of FHN’s noninterest income by major product line and reportable segment for the years ended December 31, 2022, 2021, and 2020:

Table 8.19.2

NONINTEREST INCOME DETAIL BY SEGMENT


	December 31, 2022
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	205	$	—	$	205
Deposit transactions and cash management	153		10		8		171
Brokerage, management fees and commissions	92		—		—		92
Card and digital banking fees	75		2		7		84
Mortgage banking and title income	—		68		—		68
Other service charges and fees	32		22		—		54
Trust services and investment management	48		—		—		48
Securities gains (losses), net (b)	—		—		18		18

Other income (c)	44		4		27		75
Total noninterest income	$	444	$	311	$	60	$	815


	December 31, 2021
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	—	$	406	$	—	$	406
Deposit transactions and cash management	157		12		6		175
Brokerage, management fees and commissions	88		—		—		88
Card and digital banking fees	67		3		8		78
Mortgage banking and title income	—		152		2		154
Other service charges and fees	23		17		4		44
Trust services and investment management	51		—		—		51
Securities gains (losses), net (b)	—		—		13		13
Purchase accounting gain	—		—		(1)		(1)
Other income (c)	52		7		9		68
Total noninterest income	$	438	$	597	$	41	$	1,076


	December 31, 2020
(Dollars in millions)	Regional Banking		Specialty Banking		Corporate		Consolidated
Noninterest income:
Fixed income (a)	$	1	$	422	$	—	$	423
Deposit transactions and cash management	131		11		6		148
Brokerage, management fees and commissions	66		—		—		66
Card and digital banking fees	50		2		8		60
Mortgage banking and title income	—		128		1		129
Other service charges and fees	18		7		1		26
Trust services and investment management	39		—		—		39
Securities gains (losses), net (b)	—		—		(6)		(6)
Purchase accounting gain	—		—		533		533
Other income (c)	40		6		28		74
Total noninterest income	$	345	$	576	$	571	$	1,492

(a)2022, 2021 and 2020, include $43 million, $44 million, and $39 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.