First Horizon (FHN) 10-K 25 Feb 21 2020 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 29, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-15185
Entity Registrant Name	FIRST HORIZON CORPORATION
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-0803242
Entity Address, Address Line One	165 Madison Avenue
Entity Address, City or Town	Memphis,
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38103
City Area Code	901
Local Phone Number	523-4444
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 3
Entity Common Stock, Shares Outstanding		555,468,634
Documents Incorporated by Reference	Portions of the Proxy Statement to be furnished to shareholders in connection with the Annual Meeting of shareholders scheduled for April 27, 2021: Part III of this Report
Entity Central Index Key	0000036966
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Class A
Entity Information [Line Items]
Title of 12(b) Security	$.625 Par Value Common Capital Stock
Trading Symbol	FHN
Security Exchange Name	NYSE
Series A
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/4,000th interest ina share of Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	FHN PR A
Security Exchange Name	NYSE
Series B
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/400th interest ina share of Non-Cumulative Perpetual Preferred Stock, Series B
Trading Symbol	FHN PR B
Security Exchange Name	NYSE
Series C
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/400th interest ina share of Non-Cumulative Perpetual Preferred Stock, Series C
Trading Symbol	FHN PR C
Security Exchange Name	NYSE
Series D
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/400th interest ina share of Non-Cumulative Perpetual Preferred Stock, Series D
Trading Symbol	FHN PR D
Security Exchange Name	NYSE
Series E
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/4,000th interest ina share of Non-Cumulative Perpetual Preferred Stock, Series E
Trading Symbol	FHN PR E
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 1,203	$ 634
Interest-bearing deposits with banks	8,351	482
Federal funds sold and securities purchased under agreements to resell	445	633
Trading securities	1,176	1,346
Securities available for sale at fair value	8,047	4,445
Loans held for sale (including $405 and $14 at fair value, respectively)	1,022	594
Loans and leases (including $16 and $— at fair value, respectively)	58,232	31,061
Allowance for loan and lease losses	(963)	(200)
Net loans and leases	57,269	30,861
Premises and equipment	759	455
Goodwill	1,511	1,433
Other intangible assets	354	131
Other assets	4,072	2,297
Total assets	84,209	43,311
Liabilities
Noninterest-bearing deposits	22,173	8,429
Interest-bearing deposits	47,809	24,001
Total deposits	69,982	32,430
Trading liabilities	353	506
Short-term borrowings	2,198	3,518
Term borrowings	1,670	791
Other liabilities	1,699	990
Total liabilities	75,902	38,235
Equity
Preferred stock, Non-cumulative perpetual, no par value; authorized 5,000,000 shares; issued 26,250 and 1,000 shares, respectively	470	96
Common stock, $0.625 par value; authorized 700,000,000 and 400,000,000 shares, respectively; issued 555,030,652 and 311,469,056 shares, respectively	347	195
Capital surplus	5,074	2,931
Retained earnings	2,261	1,798
Accumulated other comprehensive loss, net	(140)	(239)
FHN shareholders' equity	8,012	4,781
Noncontrolling interest	295	295
Total equity	8,307	5,076
Total liabilities and equity	$ 84,209	$ 43,311

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Loans held-for-sale, at fair value	$ 405	$ 14
Loans held for investment, at fair value	$ 16	$ 0
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	26,250	1,000
Common stock, par value (in dollars per share)	$ 0.625	$ 0.625
Common stock, shares authorized (in shares)	700,000,000	400,000,000
Common stock, shares issued (in shares)	555,030,652	311,469,056

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest income
Interest and fees on loans and leases	$ 1,722	$ 1,394	$ 1,286
Interest and fees on loans held for sale	30	31	45
Interest on securities available for sale	104	120	130
Interest on trading securities	35	47	59
Interest on other earning assets	7	32	26
Total interest income	1,898	1,624	1,546
Interest expense:
Interest on deposits	152	307	217
Interest on trading liabilities	6	13	19
Interest on short-term borrowings	14	41	37
Interest on term borrowings	64	53	53
Total interest expense	236	414	326
Net interest income	1,662	1,210	1,220
Provision for credit losses	503	45	8
Net interest income after provision for credit losses	1,159	1,165	1,212
Noninterest income
Fixed income	423	279	168
Deposit transactions and cash management	148	132	133
Mortgage banking and title income	129	10	11
Brokerage, management fees and commissions	66	55	55
Trust services and investment management	39	30	30
Bankcard income	37	28	29
Securities gains (losses), net	(6)	0	213
Purchase accounting gain	533	0	0
Other income	123	120	84
Total noninterest income	1,492	654	723
Noninterest expense
Personnel expense	1,033	695	658
Net occupancy expense	116	80	85
Computer software	85	61	61
Legal and professional fees	84	72	57
Operations services	56	46	56
Contributions	41	11	1
Equipment expense	42	34	39
Amortization of intangible assets	40	25	26
Communications and delivery	31	25	30
Advertising and public relations	18	34	25
Other expense	172	150	183
Total noninterest expense	1,718	1,233	1,221
Income before income taxes	933	586	714
Income tax expense	76	134	157
Net income	857	452	557
Net income attributable to noncontrolling interest	12	11	12
Net income attributable to controlling interest	845	441	545
Preferred stock dividends	23	6	6
Net income available to common shareholders	$ 822	$ 435	$ 539
Basic earnings per share (in dollars per share)	$ 1.90	$ 1.39	$ 1.66
Diluted earnings per share (in dollars per share)	$ 1.89	$ 1.38	$ 1.65
Weighted average common shares (in shares)	432,125	313,637	324,375
Diluted average common shares (in shares)	433,954	315,657	327,445

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statements of Comprehensive Income/(loss)
Net income	$ 857	$ 452	$ 557
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities available for sale	77	107	(49)
Net unrealized gains (losses) on cash flow hedges	9	15	(4)
Net unrealized gains (losses) on pension and other postretirement plans	13	15	0
Other comprehensive income (loss)	99	137	(53)
Comprehensive income	956	589	504
Comprehensive income attributable to noncontrolling interest	12	11	12
Comprehensive income attributable to controlling interest	944	578	492
Income tax expense (benefit) of items included in Other comprehensive income:
Net unrealized gains (losses) on securities available for sale	25	35	(16)
Net unrealized gains (losses) on cash flow hedges	3	5	(1)
Net unrealized gains (losses) on pension and other postretirement plans	$ 3	$ 5	$ 0

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Millions		Total	Adjustment	Adjusted Balance	Preferred Stock	Preferred StockAdjusted Balance	Common Sock		Common SockAdjusted Balance	Capital Surplus		Capital SurplusAdjusted Balance	Retained Earnings	Retained EarningsAdjustment	Retained EarningsAdjusted Balance	Accumulated Other Comprehensive Income (Loss)	[1]	Accumulated Other Comprehensive Income (Loss)Adjustment	[1]	Accumulated Other Comprehensive Income (Loss)Adjusted Balance	[1]	Noncontrolling Interest	Noncontrolling InterestAdjusted Balance
Beginning balance (in shares) at Dec. 31, 2017					1,000	1,000	326,736		326,736
Beginning balance at Dec. 31, 2017		$ 4,581		$ 4,581	$ 96	$ 96	$ 204		$ 204	$ 3,148		$ 3,148	$ 1,103	$ 58	$ 1,161	$ (265)		$ (58)		$ (323)		$ 295	$ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		557											545									12
Other comprehensive income (loss)		(53)														(53)
Comprehensive income		504											545			(53)						12
Cash dividends declared:
Preferred stock		(6)											(6)
Common stock		(158)											(158)
Common stock repurchased (in shares)	[2]						(6,708)
Common stock repurchased	[2]	(105)					$ (4)			(101)
Common stock issued for:
Stock options and restricted stock - equity awards (in shares)							926
Stock options and restricted stock - equity awards		5					$ 1			4
Issued in business combination (in shares)							(2,374)
Issued in business combination		(46)					$ (1)	[3]		(45)	[3]
Stock-based compensation expense		23								23
Dividends declared - noncontrolling interest of subsidiary preferred stock		(12)																				(12)
Other (in shares)							(7)
Ending balance (in shares) at Dec. 31, 2018					1,000	1,000	318,573		318,573
Ending balance at Dec. 31, 2018		4,786	$ (1)	4,785	$ 96	$ 96	$ 200		$ 200	3,029		3,029	1,542	(1)	1,541	(376)				(376)		295	295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		452											441									11
Other comprehensive income (loss)		137														137
Comprehensive income		589											441			137						11
Cash dividends declared:
Preferred stock		(6)											(6)
Common stock		(178)											(178)
Common stock repurchased (in shares)	[2]						(9,100)
Common stock repurchased	[2]	(134)					$ (6)			(128)
Common stock issued for:
Stock options and restricted stock - equity awards (in shares)							1,996
Stock options and restricted stock - equity awards		9					$ 1			8
Stock-based compensation expense		22								22
Dividends declared - noncontrolling interest of subsidiary preferred stock		(11)																				(11)
Ending balance (in shares) at Dec. 31, 2019					1,000	1,000	311,469		311,469
Ending balance at Dec. 31, 2019		5,076	$ (96)	$ 4,980	$ 96	$ 96	$ 195		$ 195	2,931		$ 2,931	1,798	$ (96)	$ 1,702	(239)				$ (239)		295	$ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		857											845									12
Other comprehensive income (loss)		99														99
Comprehensive income		956			$ 0								845			99						12
Cash dividends declared:
Preferred stock		(23)											(23)
Common stock		(263)											(263)
Preferred stock issuance (1,500 shares issued at $100,000 per share net of offering costs) (in shares)					1,500
Preferred stock issuance (1,500 shares issued at $100,000 per share net of offering costs)		144			$ 144
Common stock repurchased (in shares)							(426)
Common stock repurchased		(4)								(4)
Common stock issued for:
Stock options and restricted stock - equity awards (in shares)							1,726
Stock options and restricted stock - equity awards		7								7
Issued in business combination (in shares)	[3]				23,750		243,015
Issued in business combination	[3]	2,497			$ 230		$ 152			2,115
Stock-based compensation expense		32								32
Dividends declared - noncontrolling interest of subsidiary preferred stock		(12)																				(12)
Other (in shares)	[4]						(753)
Other	[4]	(7)								(7)
Ending balance (in shares) at Dec. 31, 2020					26,250		555,031
Ending balance at Dec. 31, 2020		$ 8,307			$ 470		$ 347			$ 5,074			$ 2,261			$ (140)						$ 295
[1]	Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.
[2]	2020, 2019, and 2018 include $4 million, $130 million, and $99 million, respectively, repurchased under share repurchase programs.
[3]	See Note 2- Acquisitions and Divestitures for additional information.
[4]	Represents shares canceled in connection with the resolution of remaining CBF dissenters' appraisal process and to cover taxes on the IBKC equity compensation grants that automatically vested as part of the merger.

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Preferred stock - cash dividends declared per share (in dollars per share)		$ 6,200	$ 6,200
Common stock - cash dividends declared per share (in dollars per share)	$ 0.60	0.56	0.48
Cash dividends declared per common share (in dollars per share)	$ 0.60	$ 0.56	$ 0.48
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201802Member
Preferred Stock
Equity, Class of Treasury Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	1,500
Sale of stock (in dollars per share)	$ 100,000
First Horizon Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchased under share repurchase programs	$ 4	$ 130	$ 99

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net income		$ 857	$ 452	$ 557
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses		503	45	8
Deferred income tax expense (benefit)		(18)	14	104
Depreciation and amortization of premises and equipment		52	44	47
Amortization of intangible assets		40	25	26
Net other amortization and accretion		(30)	(3)	(14)
Net (increase) decrease in derivatives		(223)	(134)	42
Purchase accounting gain		(533)	0	0
Stock-based compensation expense		32	22	23
Securities (gains) losses, net		6	0	(213)
Net (gains) losses on sale/disposal of fixed assets		8	22	(1)
(Gain) loss on BOLI		(5)	(5)	(4)
Loans held for sale:
Purchases and originations		(4,710)	(2,075)	(2,345)
Gross proceeds from settlements and sales		2,907	818	919
(Gain) loss due to fair value adjustments and other		(81)	(7)	20
Other operating activities, net		1,367	1,612	1,065
Total adjustments		(685)	378	(323)
Net cash provided by (used in) operating activities		172	830	234
Investing Activities
Proceeds from sales of securities available for sale		629	192	21
Proceeds from maturities of securities available for sale		4,099	800	676
Purchases of securities available for sale		(4,740)	(630)	(473)
Proceeds from sales of premises and equipment		12	20	30
Purchases of premises and equipment		(58)	(49)	(48)
Proceeds from sales and pay down of loans classified as held to maturity		0	20	50
Proceeds from BOLI		12	14	13
Net (increase) decrease in loans and leases		(819)	(3,570)	105
Net (increase) decrease in interest-bearing deposits with banks		(6,187)	795	(92)
Cash (paid) received for acquisitions, net		2,071	0	(46)
Other investing activities, net		14	18	244
Net cash provided by (used in) investing activities		(4,967)	(2,390)	480
Common stock:
Stock options exercised		7	9	5
Cash dividends paid		(222)	(171)	(139)
Repurchase of shares (a)	[1]	(4)	(134)	(105)
Cancellation of common shares		(7)	0	0
Preferred stock issuance		144	0	0
Cash dividends paid - preferred stock - noncontrolling interest		(12)	(11)	(12)
Cash dividends paid - preferred stock		(17)	(6)	(6)
Net increase (decrease) in deposits		7,143	(253)	2,093
Net increase (decrease) in short-term borrowings		(1,529)	2,384	(2,549)
Proceeds from issuance of term borrowings		1,249	0	0
Payments/maturities on term borrowings		(1,570)	(406)	(69)
Increases (decreases) in restricted and secured term borrowings		(6)	10	21
Net cash provided by (used in) financing activities		5,176	1,422	(761)
Net increase (decrease) in cash and cash equivalents		381	(138)	(47)
Cash and cash equivalents at beginning of period		1,267	1,405	1,452
Cash and cash equivalents at end of period		1,648	1,267	1,405
Supplemental Disclosures
Total interest paid		261	411	308
Total taxes paid		105	71	43
Total taxes refunded		36	28	48
Transfer from loans to OREO		2	9	12
Transfer from loans HFS to trading securities		1,742	1,321	1,389
Transfer from loans to loans HFS		$ 9	$ 31	$ 0
[1]	2019 and 2018 include $130 million and $99 million, respectively, repurchased under share repurchase programs.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Gross proceeds from settlements and sales		$ 818	$ 919
Repurchase of shares	[1]	134	105
First Horizon Share Repurchase Program
Repurchase of shares		$ 130	$ 99
[1]	2019 and 2018 include $130 million and $99 million, respectively, repurchased under share repurchase programs.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Accounting. The consolidated financial statements of FHN, including its subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America and follow general practices within the industries in which it operates. This preparation requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the financial statements and could differ from actual results. Merger with IBERIABANK Corporation. On July 1, 2020, FHN and IBERIABANK Corporation closed their merger of equals transaction. Historical periods prior to the closing of the merger only reflect results of legacy FHN operations. Subsequent to closing, results reflect all post-merger activity. Refer to Note 2 – Acquisitions and Divestitures for additional information regarding the transaction. Reclassification. In connection with the IBKC merger, certain captions in the Consolidated Balance Sheets and Consolidated Statements of Income, loan categories, and business activities within the segments were realigned. Amounts reported in prior periods' consolidated financial statements, which represent FHN's pre-merger financial results, have been reclassified to conform to the current presentation. Principles of Consolidation. The consolidated financial statements include the accounts of FHN and other entities in which it has a controlling financial interest. Variable Interest Entities for which FHN or a subsidiary has been determined to be the primary beneficiary are also consolidated. Affiliates for which FHN is not considered the primary beneficiary and in which FHN does not have a controlling financial interest are accounted for by the equity method. These investments are included in other assets, and FHN’s proportionate share of income or loss is included in noninterest income. All significant intercompany transactions and balances have been eliminated. Business Combinations. FHN accounts for acquisitions meeting the definition of a business combination in accordance with ASC 805, "Business Combinations," which requires acquired assets and liabilities (other than tax, certain benefit plan balances, and certain lease-related assets and liabilities) to be recorded at fair value. Business combinations are included in the financial statements from the respective dates of acquisition. Acquisition related costs are expensed as incurred. Revenues. Revenue is recognized when the performance obligations under the terms of a contract with a client are satisfied in an amount that reflects the consideration FHN expects to be entitled. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized immediately upon completion of the transaction. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. Any services performed over time generally require that FHN render services each period and therefore FHN measures progress in completing these services based upon the passage of time and recognizes revenue as invoiced. Following is a discussion of FHN's key revenues within the scope of ASC 606, "Revenue from Contracts with Customers", except as noted. Fixed Income. Fixed income includes fixed income securities sales, trading, and strategies, loan sales and derivative sales which are not within the scope of revenue from contracts with customers. Fixed income also includes investment banking fees earned for services related to underwriting debt securities and performing portfolio advisory services. FHN's performance obligation for underwriting services is satisfied on the trade date while advisory services is satisfied over time. Mortgage banking and title income. As a result of the IBKC merger on July 1, 2020, mortgage banking and title income has become a more significant revenue source. Mortgage banking and title income includes mortgage servicing income, title income, mortgage loan originations and sales, derivative settlements, as well as any changes in fair value recorded on mortgage loans and derivatives. Mortgage banking income from 1) sale of loans, 2) settlement of derivatives, 3) changes in fair value of loans, derivatives and servicing rights and 4) servicing of loans are not within the scope of revenue from contracts with customers. Title income is earned when FHN fulfills its performance obligation at the point in time when the services are completed. Deposit Transactions and Cash Management. Deposit transactions and cash management activities include fees for services related to consumer and commercial deposit products (such as service charges on checking accounts), cash management products and services such as electronic transaction processing (Automated Clearing House and Electronic Data Interchange), account reconciliation services, cash vault services, lockbox processing, and information reporting to large corporate clients. FHN's obligation for transaction-based services is satisfied at the time of the transaction when the service is delivered while FHN's obligation for service based fees is satisfied over the course of each month. Brokerage, Management Fees and Commissions. Brokerage, management fees and commissions include fees for portfolio management, trade commissions, and annuity and mutual fund sales. Asset-based management fees are charged based on the market value of the client’s assets. The services associated with these revenues, which include investment advice and active management of client assets are generally performed and recognized over a month or quarter. Transactional revenues are based on the size and number of transactions executed at the client’s direction and are generally recognized on the trade date. Trust Services and Investment Management. Trust services and investment management fees include investment management, personal trust, employee benefits, and custodial trust services. Obligations for trust services are generally satisfied over time but may be satisfied at points in time for certain activities that are transactional in nature. Bankcard Income. Bankcard income includes credit interchange and network revenues and various card-related fees. Interchange income is recognized concurrently with the delivery of services on a daily basis. Card-related fees such as late fees, currency conversion, and cash advance fees are loan-related and excluded from the scope of ASC 606. Contract Balances. As of December 31, 2020, accounts receivable related to products and services on non-interest income were $10 million. For the year ended December 31, 2020, FHN had no material impairment losses on non-interest accounts receivable and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheets as of December 31, 2020. Credit risk is assessed on these accounts receivable each reporting period and the amount of estimated uncollectible receivables is not material. Transaction Price Allocated to Remaining Performance Obligations. For the year ended December 31, 2020, revenue recognized from performance obligations related to prior periods was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less and contracts where revenue is recognized as invoiced, is not material. Refer to Note 20 - Business Segment Information for a reconciliation of disaggregated revenue by major product line and reportable segment. Debt Investment Securities. Debt securities that may be sold prior to maturity are classified as AFS and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses (i.e., from sales) for debt investment securities are determined by the specific identification method and reported in noninterest income. In periods subsequent to 2019, the evaluation of credit risk for HTM debt securities mirrors the process described below for loans held for investment. AFS debt securities are reviewed for potential credit impairment at the individual security level. The evaluation of credit risk includes consideration of third-party and government guarantees (both explicit and implicit), senior or subordinated status, credit ratings of the issuer, the effects of interest rate changes since purchase and observable market information such as issuer-specific credit spreads. Credit losses for AFS debt securities are generally recognized through establishment of an allowance for credit losses that cannot exceed the amount by which amortized cost exceeds fair value. Charge-offs are recorded as reductions of the security’s amortized cost and the credit allowance. Subsequent improvements in estimated credit losses result in reduction of the credit allowance, but not beyond zero. However, if FHN has the intent to sell or if it is more-likely-than-not that it will be compelled to sell a security with an unrecognized loss, the difference between the security's carrying value and fair value is recognized through earnings and a new amortized cost basis is established for the security (i.e., no allowance for credit losses is recognized). FHN has elected to exclude accrued interest receivable from the fair value and amortized cost basis on AFS debt securities when assessing whether these securities have experienced credit impairment. Additionally, FHN has elected to not measure an allowance for credit losses on AIR for AFS debt securities based on its policy to write off uncollectible interest in a timely manner, which generally occurs when delinquency reaches no more than 90 days for all security types. Any such write offs are recognized as a reduction of interest income. AIR for AFS debt securities is included within Other assets in the Consolidated Balance Sheet. In periods prior to 2020, both AFS and HTM securities were reviewed quarterly for possible other-than-temporary impairment. The review included an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value had been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Declines in value judged to be OTTI based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN had the intent to sell, were determined by the specific identification method. For HTM debt securities, OTTI recognized was typically credit-related and was reported in noninterest income. For impaired AFS debt securities that FHN did not intend to sell and was not required to sell prior to recovery but for which credit losses existed, the OTTI recognized was allocated between the total impairment related to credit losses which was reported in noninterest income, and the impairment related to all other factors which was excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Statements of Comprehensive Income. Equity Investment Securities. Equity securities are classified in Other assets. Banks organized under state law may apply to be members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank. Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. FRB and FHLB stock are recorded at cost and are subject to impairment reviews. FHN's subsidiary, First Horizon Bank, was a state member bank throughout 2020. Other equity investments primarily consist of mutual funds which are marked to fair value through earnings. Smaller balances of equity investments without a readily determinable fair value are recorded at cost minus impairment with adjustments through earnings for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Fed Funds Sold and Purchased. Fed funds sold and purchased represent unsecured overnight funding arrangements between participants in the Federal Reserve system primarily to assist banks in meeting their regulatory cash reserve requirements. Fed Funds sold are evaluated for credit risk each reporting period. Due to the short duration of each transaction and the history of no credit losses, no credit loss has been recognized. Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase. FHN purchases short-term securities under agreements to resell which are accounted for as collateralized financings except where FHN does not have an agreement to sell the same or substantially the same securities before maturity at a fixed or determinable price. All of FHN’s securities purchased under agreements to resell are recognized as collateralized financings. Securities delivered under these transactions are delivered to either the dealer custody account at the FRB or to the applicable counterparty. Securities sold under agreements to repurchase are offered to cash management clients as an automated, collateralized investment account. Securities sold under agreements to repurchase are also used by the consumer/commercial bank to obtain favorable borrowing rates on its purchased funds. All of FHN's securities sold under agreements to repurchase are secured borrowings. Collateral is valued daily and FHN may require counterparties to deposit additional securities or cash as collateral, or FHN may return cash or securities previously pledged by counterparties, or FHN may be required to post additional securities or cash as collateral, based on the contractual requirements for these transactions. FHN’s fixed income business utilizes securities borrowing arrangements as part of its trading operations. Securities borrowing transactions generally require FHN to deposit cash with the securities lender. The amount of cash advanced is recorded within Securities purchased under agreements to resell in the Consolidated Balance Sheets. These transactions are not considered purchases and the securities borrowed are not recognized by FHN. FHN does not conduct securities lending transactions. Securities purchased under agreements to resell and securities borrowing arrangements are evaluated for credit risk each reporting period. As presented in Note 23 - Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions, these agreements are collateralized by the related securities and collateral maintenance provisions with counterparties, including replenishment and adjustment on a transaction specific basis. This collateral includes both the securities collateral for each transaction as well as offsetting securities sold under agreements to repurchase with the same counterparty. Given the history of no credit losses and collateralized nature of these transactions, no credit loss has been recognized. Loans Held for Sale. Loans originated or purchased for which management lacks the intent to hold are included in loans held for sale in the Consolidated Balance Sheets. FHN generally accounts for loans held for sale at the lower of amortized cost or market value, with an exception for certain mortgage loans held for sale and repurchased loans that are not governmentally insured which are carried under the fair value option of reporting. On July 1, 2020 as part of the IBKC merger, FHN obtained operations that generate two types of loans held for sale: • Fair Value Option Election. These loans, which represent the majority of the IBKC loans held for sale portfolio, consist of fixed rate single-family residential mortgage loans originated by IBKC and committed to be sold in the secondary market. Gains and losses on these mortgage loans are included in mortgage banking and title income. • Other Loans held for sale. For these loans, net unrealized losses, if any, are recognized through a valuation allowance that is recorded as a charge to noninterest income. Loans and Leases. Generally, loans are stated at principal amounts outstanding, net of unearned income. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs as well as premiums and discounts are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs, premiums and discounts are recognized in interest income upon early repayment of the loans. Cash collections from loans that were fully charged off prior to acquisition are recognized in noninterest income. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. As a result of the IBKC merger, FHN obtained equipment financing leases to commercial clients, which are primarily classified as direct financing and sales-type leases. Equipment financing leases are reported at the net lease investment, which represents the sum of minimum lease payments over the lease term and the estimated residual value, less unearned interest income. Interest income is accrued as earned over the term of the lease based on the net investment in leases. Fees incurred to originate the lease are deferred and recognized as an adjustment of the yield on the lease. FHN also obtained a small amount of loans held for investment in the IBKC merger which are accounted for at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for further discussion of these loans. FHN has elected to exclude accrued interest receivable from the amortized cost basis on its held-for-investment loan portfolio. FHN has also elected to not measure an allowance for credit losses on AIR for loans held for investment based on its policy to write off uncollectible interest in a timely manner, which occurs when a loan is placed on nonaccrual status. Such write-offs are recognized as a reduction of interest income. AIR for held-for-investment loans is included within Other assets in the Consolidated Balance Sheets. FHN has continued to accrue interest on loans for which payment deferrals have been extended to borrowers affected by the COVID-19 pandemic. Deferrals are typically made in increments of three or six months. Cumulative deferrals of six months or longer are beyond FHN's normal write-off practices for accrued interest. Therefore, these interest deferrals do not qualify for FHN's election to not recognize a credit loss allowance for accrued interest. Accordingly, FHN has estimated credit losses for COVID-19 interest deferrals which is included within AIR in Other assets in the Consolidated Balance Sheets. Nonaccrual and Past Due Loans. Generally, loans are placed on nonaccrual status if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance due to insufficient collateral value and past due status, or on a case-by-case basis if FHN continues to receive payments, but there are other borrower-specific issues. • The accrual status policy for commercial TDRs follows the same internal policies and procedures as other commercial portfolio loans. • Residential real estate secured loans discharged in bankruptcy that have not been reaffirmed by the borrower (“discharged bankruptcies”) are placed on nonaccrual regardless of delinquency status and are reported as TDRs. • Current second lien residential real estate loans that are junior to first liens are placed on nonaccrual status if the first lien is 90 or more days past due, is a bankruptcy, or is a troubled debt restructuring. • Consumer real estate (HELOC and residential real estate installment loans), if not already on nonaccrual per above situations, are placed on nonaccrual if the loan is 30 or more days delinquent at the time of modification and is also determined to be a TDR. • Government guaranteed/insured residential mortgage loans remain on accrual (even if the loan falls into one of the above categories) because the collection of principal and interest is reasonably assured. For commercial and consumer loans within each portfolio segment and class that have been placed on nonaccrual status, accrued but uncollected interest is reversed and charged against interest income when the loan is placed on nonaccrual status. Management may elect to continue the accrual of interest when the estimated net realizable value of collateral is sufficient to recover the principal balance and accrued interest. Interest payments received on nonaccrual loans are normally applied to outstanding principal first. Once all principal has been received, additional interest payments are recognized on a cash basis as interest income. Generally, commercial and consumer loans within each portfolio segment and class that have been placed on nonaccrual status can be returned to accrual status if all principal and interest is current and FHN expects full repayment of the remaining contractual principal and interest. This typically requires that a borrower make payments in accordance with the contractual terms for a sustained period of time (generally for a minimum of six months) before being returned to accrual status. For TDRs, FHN may also consider a borrower’s sustained historical repayment performance for a reasonable time prior to the restructuring in assessing whether the borrower can meet the restructured terms, as it may indicate whether the borrower is capable of servicing the level of debt under the modified terms. Residential real estate loans discharged through Chapter 7 bankruptcy and not reaffirmed by the borrower are not returned to accrual status. For current second liens that have been placed on nonaccrual because the first lien is 90 or more days past due or is a TDR or bankruptcy, the second lien may be returned to accrual upon pay-off or cure of the first lien. Charge-offs. For all commercial and consumer loan portfolio segments, all losses of principal are charged to the ALLL in the period in which the loan is deemed to be uncollectible. For consumer loans, the timing of a full or partial charge-off generally depends on the loan type and delinquency status. Generally, for the consumer real estate and permanent mortgage portfolio segments, a loan will be either partially or fully charged-off when it becomes 180 days past due. At this time, if the collateral value does not support foreclosure, balances are fully charged-off and other avenues of recovery are pursued. If the collateral value supports foreclosure, the loan is charged-down to net realizable value (collateral value less estimated costs to sell) and is placed on nonaccrual status. For residential real estate loans discharged in Chapter 7 bankruptcy and not reaffirmed by the borrower, the fair value of the collateral position is assessed at the time FHN is made aware of the discharge and the loan is charged down to the net realizable value (collateral value less estimated costs to sell). Within the credit card and other portfolio segment, credit cards and installment loans secured by automobiles are normally charged-off upon reaching 180 days past due while other non-real estate consumer loans are charged-off upon reaching 120 days past due. For acquired PCD loans where all or a portion of the loan balance had been charged off prior to acquisition, and for which active collection efforts are still underway, the ALLL recorded at acquisition is immediately charged off if required by FHN’s existing charge off policy. Additionally, FHN is required to consider its existing policies in determining whether to charge off any financial assets, regardless of whether a charge-off was recorded by the predecessor company. The initial ALLL recognized on PCD assets includes the gross-up of the loan balance reduced by immediate charge-offs for loans previously charged off by the predecessor company or which meet FHN’s charge-off policy on the date of acquisition. Charge- offs against the allowance related to such acquired PCD loans do not result in an income statement impact. Purchased Credit-Deteriorated Loans. Subsequent to 2019, at the time of acquisition FHN evaluates all acquired loans to determine if they have experienced a more-than-insignificant deterioration in credit quality since origination. PCD loans can be identified on either an 1) individual or 2) pooled basis when the loans share similar risk characteristics. FHN evaluates various absolute factors to assist in the identification of PCD loans, including criteria such as, existing PCD status, risk rating of special mention or lower, nonaccrual or impaired status, identification of prior TDRs, and delinquency status. FHN also utilizes relative factors to identify PCD loans such as commercial loan grade migration, expansion of borrower credit spreads, declines in external risk ratings and changes in consumer loan characteristics (e.g., FICO decline or LTV increase). In addition, factors reflective of broad economic considerations are also considered in identifying PCD loans. These include industry, collateral type, and geographic location for the borrower’s operations. Internal factors for origination of new loans that are similar to the acquired loans are also evaluated to assess loans for PCD status, including increases in required yields, necessity of borrowers’ providing additional collateral and/or guarantees and changes in acceptable loan duration. Other indicators may also be used to evaluate loans for PCD status depending on borrower-specific communications and actions, such public statements, initiation of loan modification discussions and obtaining emergency funding from alternate sources. Upon acquisition, the expected credit losses are allocated to the purchase price of individual PCD loans to determine each individual asset's amortized cost basis, typically resulting in a reduction of the discount that is accreted prospectively to interest income. At the acquisition date and prospectively, only the unpaid principal balance is incorporated within the estimation of expected credit losses for PCD loans. Otherwise, the process for estimation of expected credit losses is consistent with that discussed below. As discussed below FHN applies undiscounted cash flow methodologies for the estimation of expected credit losses, which results in the calculated amount of credit losses at acquisition that is added to the amortized cost basis of the related PCD loans to exceed the discounted value of estimated credit losses included in the loan valuation. For PCD loans where all or a portion of the loan balance has been previously written-off, or would be subject to write-off under FHN’s charge-off policy, the initial ALLL included as part of the grossed-up loan balance at acquisition was immediately written-off, resulting in a zero period-end allowance balance and no impact on the ALLL rollforward. Purchased Credit-Impaired Loans. Prior to 2020, ASC 310-30 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer,” established guidance for acquired loans that exhibited deterioration of credit quality between origination and the time of acquisition and for which the timely collection of the interest and principal was not reasonably assured. PCI loans were initially recorded at fair value which was estimated by discounting expected cash flows at acquisition date. The expected cash flows included all contractually expected amounts (including interest) and incorporated an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools was based upon common risk characteristics that include similar credit risk or risk ratings, and one or more predominant risk characteristics. Each PCI pool was accounted for as a single unit. Accretable yield was initially established at acquisition and is the excess of cash flows expected at acquisition over the initial investment in the loan and was recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference was initially established at acquisition and was the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimated expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement resulted in reversal of any nonaccretable difference (or allowance for loan and lease losses to the extent any has previously been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows resulted in an increase in the allowance for loan and lease losses through provision expense. FHN did not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that had been pooled and subsequently modified were not reported as troubled debt restructurings since the pool was the unit of measurement. Subsequent to 2019, PCI loans have transitioned to purchased-credit-deteriorated status and are accounted for as discussed above. Allowance for Credit Losses. The nature of the process by which FHN determines the appropriate ACL requires the exercise of considerable judgment. See Note 5 - Allowance for Credit Losses for a discussion of FHN’s ACL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. The discussion herein reflects periods before and after the implementation of a change in credit loss estimation processes that was effective January 1, 2020. Future adjustments to the ACL may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. Subsequent to 2019 Management's estimate of expected credit losses in the loan and lease portfolio is recorded in the ALLL and the reserve for unfunded lending commitments, collectively the ACL. The ACL is maintained at a level that management determines is sufficient to absorb current expected credit losses in the loan and lease portfolio and unfunded lending commitments. Management uses analytical models to estimate expected credit losses in the loan and lease portfolio and unfunded lending commitments as of the balance sheet date. The models are carefully reviewed to identify trends that may not be captured in the modeled loss estimates. Management uses qualitative adjustments for those items not reflected in the modeled loss information such as recent changes from the macroeconomic forecasts utilized in model calculations, results of additional stressed modeling scenarios, observed and/or expected changes affecting borrowers in specific industries or geographic areas, exposure to large lending relationships and expected recoveries of prior charge offs. Qualitative adjustments are also used to accommodate for the imprecision of cert

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures On July 1, 2020, FHN and IBERIABANK Corporation closed their merger of equals transaction. FHN issued approximately 243 million shares of FHN common stock, plus three new series of preferred stock (Series B, Series C, and Series D) in a transaction valued at $2.5 billion. At the time of closing, IBKC operated 319 offices in 12 states, mostly in the southern U.S. The merger of equals transaction has been accounted for as a business combination. Accordingly, the assets acquired and liabilities assumed are generally presented at their fair values as of the merger date. The determination of fair value requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. The following schedule details a preliminary allocation of merger consideration to the valuations of the identifiable tangible and intangible assets acquired and liabilities assumed from IBKC as of July 1, 2020. (Dollars in millions) IBERIABANK Corporation Assets: Cash and due from banks $ 395 Interest-bearing deposits with banks 1,683 Securities available for sale at fair value 3,544 Loans held for sale 320 Loans and leases (a) 25,921 Allowance for loan and lease losses (284) Other intangible assets 240 Premises and equipment 311 OREO 9 Other assets 1,153 Total assets acquired $ 33,292 Liabilities: Deposits $ 28,232 Short-term borrowings 209 Term borrowings 1,200 Other liabilities 616 Total liabilities assumed $ 30,257 Net assets acquired $ 3,035 Consideration paid: Consideration for outstanding common stock $ 2,243 Consideration for equity awards 28 Consideration for preferred stock 231 Total consideration paid $ 2,502 Preliminary purchase accounting gain $ (533) (a) Includes $1.3 billion of initial net investments in sales-type and direct financing leases. In relation to the merger of equals, FHN recorded a preliminary $533 million purchase accounting gain, representing the shortfall of the purchase price under the acquisition accounting value of net assets acquired, net of deferred taxes. The preliminary purchase accounting gain is not taxable. Due to the fact that back office functions (including loan and deposit processing) still have not been integrated, the evaluation of post-merger activity, and the extended information gathering and management review processes required to properly record acquired assets and liabilities, FHN considers its valuations of IBKC's loans and leases, other assets, tax receivables and payables, other liabilities and acquired contingencies to be provisional as management continues to identify and assess information regarding the nature of these assets and liabilities and reviews the associated valuation assumptions and methodologies. Accordingly, the amounts recorded for current and deferred tax assets and liabilities are also considered provisional as FHN continues to evaluate the nature and extent of permanent and temporary (timing) differences between the book and tax bases of the acquired assets and liabilities assumed. Additionally, the accounting policies of both FHN and IBKC are in the process of being reviewed in detail. Upon completion of such review, conforming adjustments or financial statement reclassification may be determined. The following is a description of the methods used to determine the fair values of significant assets acquired and liabilities assumed presumed above. Cash and due from banks and interest-bearing deposits with banks: The carrying amount of these assets is a reasonable estimate of fair value based on the short-term nature of these assets. Securities available for sale: Fair values for securities were based on quoted market prices where available. If quoted market prices are not available, fair value estimates are based on observable inputs obtained from market transactions in similar securities. Securities held to maturity were reclassified to securities available for sale based on FHN's intent at closing. Loans: Fair values for loans were based on a discounted cash flow methodology that considered factors including loan type and related collateral, classification status, remaining term of the loan, fixed or variable interest rate, amortization status and current discount rates. Expected cash flows were derived using inputs consistent with management's assessment of credit risk for allowance measurement with adjustments for consistency with fair value measurement concepts. Large loans were specifically reviewed to evaluate credit risk. Loans were valued individually although multiple inputs were applied to loans with similar characteristics as appropriate. The discount rate did not include an explicit factor for credit losses, as that was included as a reduction to the estimated cash flows. Leases: Sales-type and direct financing leases were valued at the net investment in the lease which consists of both the lease receivable (including both the remaining lease payments and the guaranteed residual asset value) and the unguaranteed residual asset, if any. Discounting of the lease receivable was performed using the rate implicit in the lease. The unguaranteed residual asset represents the difference in the fair value of the underlying asset and the lease receivable and therefore includes consideration of all terms and conditions in the lease. Intangible assets: Core deposit intangible asset represents the value of the relationships with deposit clients. The fair value for the core deposit intangible asset was estimated based on a discounted cash flow methodology that gave appropriate consideration to expected client attrition rates, net maintenance cost of the deposit base, alternative costs of funds, and the interest costs associated with the client deposits. The core deposit intangible asset is being amortized over its estimated useful life of approximately ten years utilizing an accelerated method. Client relationship intangibles are valued using a discounted cash flow methodology that reflects the estimated value of the future net earnings from the relationships which includes adjustments for estimated attrition. Loans Held for Sale: The valuation of loans held for sale, primarily conforming mortgages, reflected quotes or bids on these loans directly from the purchasing financial institutions. Allowance for Loan and Lease Losses: As discussed in Note 1, the adoption of ASU 2016-13 impacted the way in which the allowance for credit losses is determined for acquired loans. Prior to the IBKC merger, on January 1, 2020, IBKC also adopted ASU 2016-13 through the development of multiple current expected credit loss models (ECL Models) which segmented IBKC’s loan and lease portfolio by borrower and loan type to estimate lifetime expected credit losses for loans and leases. Within each ECL Model, loans and leases were further segregated based on additional risk characteristics specific to that loan or lease type and the ECL Models used both internal and external historical loss data, as appropriate. While there were significant similarities in the manner of adoption of ASU 2016-13 by legacy FHN and legacy IBKC, numerous steps were taken to align the IBKC process to ensure that the ACL reported at the time of the IBKC merger in the table below and in all subsequent reporting periods is consistent with the ACL policies as outlined in Note 1 – Significant Accounting Policies and Note 5 – Allowance for Credit Losses. This included conforming certain IBKC assumptions (e.g., the reasonable and supportable forecast of future economic conditions and the reasonable and supportable forecast period, among others) to that of FHN. This was accomplished primarily through qualitative adjustments for alignment. Derivatives: Derivative assets and liabilities are included in Other assets and Other liabilities. Forward sales contracts are valued using current transactions involving identical securities. Interest rate swaps, interest rate locks, interest rate collars, interest rate floors, and equity indexed derivatives are estimated using prices of financial instruments with similar characteristics and observable inputs. Risk participations also incorporate an estimate of credit risk. Lease Assets and Lease Liabilities: Lease assets and lease liabilities were measured using a methodology that involved estimating the future rental payments over the remaining lease term with discounting using a fully-collateralized discount rate. The lease term was determined for individual leases based on management's assessment of the probability of exercising existing renewal options. The net effect of any off-market terms in a lease were also discounted and applied to the balance of the lease asset. Premises and Equipment: Land and buildings held for use are valued at appraised values, which reflect considerations of recent disposition values for similar property types with adjustments for characteristics of individual properties. Locations held for sale are valued at appraised values which also reference recent disposition values for similar property types but also considers marketability discounts for vacant properties. The valuations of locations held for sale are reduced by estimated costs to sell. Other fixed assets are valued using a discounted cash flow methodology which reflects estimates of future value of assets to a hypothetical buyer. OREO: OREO properties are valued at estimated fair value less estimated costs to sell the real estate. Estimated fair value is determined using appraised values which includes consideration of recent disposition values for similar property types with adjustments for characteristics of individual properties. Deposits : The fair values used for the demand and savings deposits by definition equal the amount payable on demand at the acquisition date. Fair values for time deposits were estimated using a discounted cash flow analysis applying interest rates currently offered to the contractual interest rates on such time deposits. Short-term borrowings: The carrying amount of these liabilities is a reasonable estimate of fair value based on the short-term nature of these liabilities. Term Borrowings: The fair values of long-term debt instruments are estimated based on quoted market prices for instrument if available, or for similar instruments if not available. For redeemable debt instruments, an evaluation of the debt terms in comparison to current financing alternatives was performed to evaluate if the redemption value represented the fair value relevant to a market participant. If pricing for similar instruments is not available, a discounted cash flow analysis is utilized based on estimated current borrowing rates for similar types of instruments and considers whether the debt is currently callable. Estimated discount rates are determined from the perspective of the post-merger combined entity rather than the acquiree and/or original issuers. FHN's operating results for the year ended December 31, 2020 include the operating results of the acquired assets and assumed liabilities of IBKC subsequent to the merger of equals transaction on July 1, 2020. Due to various system conversions of IBKC during the second half of 2020, as well as other streamlining and integration of the operating activities into those of the Company, historical reporting for the former IBKC operations is impracticable and thus disclosures of the revenue from the assets acquired and income before income taxes is impracticable for the period subsequent to acquisition. The following table presents pro forma information as if the IBKC transaction occurred on January 1, 2019. The pro forma information does not necessarily reflect the results of operations that would have occurred had the two companies combined on January 1, 2019. Furthermore, cost savings and other business synergies related to the transaction are not reflected in the pro forma amounts. Pro Forma Information for the Years Ended (Dollars in millions) December 31, 2020 December 31, 2019 (a) Net interest income $ 2,247 $ 2,256 Noninterest income 1,071 888 Net income (loss) 677 881 (a) Does not include the impact of CECL which was adopted January 1, 2020. Total merger and integration expenses for the IBKC merger recognized for the years ended December 31, 2020 and 2019 are presented in the table below: (Dollars in millions) 2020 2019 Legal and professional fees (a) $ 41 $ 8 Personnel expense (b) 61 3 Contribution expense (c) 20 — Miscellaneous expense (d) 18 — Total IBKC merger expense $ 140 $ 11 (a) Primarily comprised of fees for legal, accounting, and merger consultants. (b) Primarily comprised of fees for severance and retention. (c) Comprised of contribution expense related to the establishment of the Louisiana First Horizon Foundation. (d) Primarily comprised of fees for travel and entertainment, contract employment and other miscellaneous expenses. On July 17, 2020, First Horizon Bank completed its purchase of 30 branches from Truist Bank. As part of the transaction, FHN assumed approximately $2.2 billion of branch deposits for a 3.40% deposit premium and purchased approximately $423 million of branch loans. The branches are in communities in North Carolina (20 branches), Virginia (8 branches), and Georgia (2 branches). This transaction qualifies as a business combination. As of December 31, 2020, the valuation of the acquired assets and liabilities from the Truist branches acquisition was final. The following schedule details the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Truist Bank as of July 17, 2020. (Dollars in millions) Truist Bank Assets: Cash and due from banks $ 2,202 Loans and leases 423 Allowance for loan and lease losses (2) Other intangible assets 7 Premises and equipment 11 Other assets 27 Total assets acquired $ 2,668 Liabilities: Deposits $ 2,195 Other liabilities 30 Total liabilities assumed $ 2,225 Net assets acquired $ 443 Consideration paid: Cash $ 521 Total consideration paid $ 521 Goodwill $ 78 In relation to the acquisition, FHN recorded $78 million in goodwill, representing the excess of acquisition consideration over the estimated fair value of net assets acquired. All goodwill has been attributed to FHN's Regional Banking segment (refer to Note 7 - Intangible Assets for additional information). This goodwill is the result of expected synergies, operational efficiencies and other factors. FHN's operating results for the year ended December 31, 2020 include the operating results of the acquired assets and assumed liabilities of Truist Bank subsequent to the acquisition on July 17, 2020. Expenses related to FHN's merger and integration activities are recorded in FHN's Corporate segment. Total other merger and integration expense recognized for the years ended December 31, 2020 and 2019 are presented in the table below: Years ended December 31, (Dollars in millions) 2020 2019 Legal and professional fees (a) $ 2 $ 11 Personnel expense (b) 6 1 Contract employment and outsourcing (c) 1 — Net occupancy expense (d) 1 1 Miscellaneous expense (e) 4 2 All other expense (f) 6 7 Total $ 20 $ 22 Certain previously reported amounts have been reclassified to agree with current presentation. (a) Primarily comprised of fees for legal, accounting, and merger consultants. (b) Primarily comprised of fees for severance and retention. (c) Primarily relates to fees for temporary assistance for merger and integration activities. (d) Primarily relates to expenses associated with lease exits. (e) Consists of fees for operations services, communications and courier, equipment rentals, depreciation and maintenance, supplies, travel and entertainment, computer software, and advertising and public relations. (f) Primarily relates to contract termination charges, internal technology development costs, costs of shareholder matters and asset impairments, as well as other miscellaneous expenses. In addition to the transactions mentioned above, FHN acquires or divests assets from time to time in transactions that are considered business combinations or divestitures but are not material to FHN individually or in the aggregate. In April 2019, FHN sold a subsidiary acquired as part of the CBF merger in 2017 that did not fit within FHN's risk profile. The sale resulted in the removal of approximately $25 million UPB of subprime consumer loans from Loans held for sale on FHN's Consolidated Balance Sheets.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2020
Marketable Securities [Abstract]
Investment Securities	Investment Securities The following tables summarize FHN’s investment securities on December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Amortized Gross Gross Fair Securities available for sale: U.S. treasuries $ 613 $ — $ — $ 613 Government agency issued MBS 3,722 92 (2) 3,812 Government agency issued CMO 2,380 29 (3) 2,406 Other U.S. government agencies 672 12 — 684 Corporate and other debt 40 1 (1) 40 States and municipalities 445 15 — 460 $ 7,872 $ 149 $ (6) 8,015 AFS securities recorded at fair value through earnings: SBA-interest only strips (a) 32 Total securities available for sale (b) $ 8,047 (a) SBA-interest only strips are recorded at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information. (b) Includes $6.4 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. December 31, 2019 (Dollars in millions) Amortized Gross Gross Fair Securities available for sale: U.S. treasuries $ — $ — $ — $ — Government agency issued MBS 2,316 35 (3) 2,348 Government agency issued CMO 1,668 10 (7) 1,671 Other U.S. government agencies 304 4 (1) 307 Corporate and other debt 40 — — 40 States and municipalities 57 3 — 60 $ 4,385 $ 52 $ (11) 4,426 AFS securities recorded at fair value through earnings: SBA-interest only strips (a) 19 Total securities available for sale (b) $ 4,445 (a) SBA-interest only strips are recorded at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information. (b) Includes $3.8 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. The amortized cost and fair value by contractual maturity for the available-for-sale debt securities portfolio on December 31, 2020 is provided below: Available for Sale (Dollars in millions) Amortized Fair Within 1 year $ 756 $ 758 After 1 year through 5 years 160 162 After 5 years through 10 years 184 192 After 10 years 670 717 Subtotal 1,770 1,829 Government agency issued MBS and CMO (a) 6,102 6,218 Total $ 7,872 $ 8,047 (a) Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Gross gains on sales of debt investment securities for the years ended December 31, 2020, 2019 and 2018 were insignificant. Gross losses on sales of debt investment securities were $4 million for the year ended 2020 and insignificant for the years ended December 31, 2019 and 2018. Cash proceeds from the sale of available-for-sale securities during 2020 and 2019 were $629 million and $192 million, respectively and were not material in 2018. The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of December 31, 2020 and 2019: As of December 31, 2020 Less than 12 months 12 months or longer Total (Dollars in millions) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. treasuries $ 307 $ — $ — $ — $ 307 $ — Government agency issued MBS 426 (2) — — 426 (2) Government agency issued CMO 586 (3) — — 586 (3) Other U.S. government agencies 80 (1) — — 80 (1) States and municipalities 1 — — — 1 — Total $ 1,400 $ (6) $ — $ — $ 1,400 $ (6) As of December 31, 2019 Less than 12 months 12 months or longer Total (Dollars in millions) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Government agency issued MBS $ 175 $ (1) $ 193 $ (2) $ 368 $ (3) Government agency issued CMO 379 (2) 361 (5) 740 (7) Other U.S. government agencies 98 (1) — — 98 (1) States and municipalities 4 — — — 4 — Total $ 656 $ (4) $ 554 $ (7) $ 1,210 $ (11) For periods subsequent to 2019, FHN has evaluated all AFS debt securities that were in unrealized loss positions in accordance with its accounting policy for recognition of credit losses. No AFS debt securities were determined to have credit losses because the primary cause of the decline in value was attributable to changes in interest rates. Total AIR not included in the fair value or amortized cost basis of AFS debt securities was $22 million as of December 31, 2020. Consistent with FHN's review of the related securities, there were no credit-related write downs of AIR for AFS securities during the reporting period. Additionally, for AFS debt securities with unrealized losses as of the balance sheet date, FHN does not intend to sell them and it is more-likely-than-not that FHN will not be required to sell them prior to recovery. Therefore, no write downs of these investments to fair value occurred during the reporting period. For periods prior to 2020, FHN reviewed debt investment securities that were in unrealized loss positions in accordance with its accounting policy for OTTI and did not consider them other-than-temporarily impaired. For debt securities with unrealized losses, FHN did not intend to sell them and it is more-likely-than-not that FHN would not be required to sell them prior to recovery. The decline in value was primarily attributable to changes in interest rates and not credit losses. The carrying amount of equity investments without a readily determinable fair value was $57 million and $26 million at December 31, 2020 and 2019, respectively. The year-to-date 2020 and 2019 gross amounts of upward and downward valuation adjustments were not significant. Unrealized gains of $7 million and unrealized losses of $7 million were recognized during 2020 and 2019, respectively, for equity investments with readily determinable fair values.

Loans and Leases

Loans and Leases	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Loans and Leases	Loans and Leases Tables and data as of December 31, 2020 include the loan and lease balances acquired in the IBKC merger and Truist Bank branch acquisition, which were recorded at fair value on their respective transaction closing dates. See Note 2 - Acquisitions and Divestitures for further information. As discussed in Note 1 - Significant Accounting Policies, the ALLL estimation process was revised on January 1, 2020 to reflect the adoption of ASU 2016-13. All information contained in the following disclosures reflects the application of requirements from the adoption of ASU 2016-13 for periods after 2019. Information for periods prior to 2020 has been retained with the content consistent with prior disclosures. The loan and lease portfolio is disaggregated into portfolio segments and then further disaggregated into classes for certain disclosures. GAAP defines a portfolio segment as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. A class is generally a disaggregation of a portfolio segment and is generally determined based on risk characteristics of the loan and FHN’s method for monitoring and assessing credit risk and performance. FHN's loan and lease portfolio segments are commercial and consumer. The classes of loans and leases are: (1) commercial, financial, and industrial, which includes commercial and industrial loans and leases and loans to mortgage companies, (2) commercial real estate, (3) consumer real estate, which includes both real estate installment and home equity lines of credit, and (4) credit card and other. The following table provides the amortized cost basis of loans and leases by portfolio segment and class as of December 31, 2020 and 2019, excluding accrued interest of $180 million and $85 million, respectively, which is included in Other assets in the Consolidated Balance Sheets. December 31, (Dollars in millions) 2020 2019 Commercial: Commercial and industrial (a) (b) $ 27,700 $ 15,640 Loans to mortgage companies 5,404 4,411 Total commercial, financial, and industrial 33,104 20,051 Commercial real estate 12,275 4,337 Consumer: HELOC 2,420 1,287 Real estate installment loans 9,305 4,890 Total consumer real estate 11,725 6,177 Credit card and other 1,128 496 Loans and leases $ 58,232 $ 31,061 Allowance for loan and lease losses (963) (200) Total net loans and leases $ 57,269 $ 30,861 (a) December 31, 2020 balance includes equipment financing leases of $587 million. (b) Includes PPP loans fully guaranteed by the SBA of $4.1 billion as of December 31, 2020. Restrictions Loans and leases with carrying values of $38.6 billion and $19.2 billion were pledged as collateral for borrowings at December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, FHN had pledged $7.8 billion and $5.2 billion of commercial loans to secure potential discount window borrowings from the Federal Reserve Bank, which included all of its first and second lien mortgages, HELOCs, and commercial real estate loans to secure potential borrowings from the FHLB-Cincinnati. Concentrations of Credit Risk Most of the FHN’s business activity is with clients located in the southern United States. FHN’s lending activity is concentrated in its market areas within those states. As of December 31, 2020, FHN had loans to mortgage companies totaling $5.4 billion and loans to finance and insurance companies total $3.1 billion. As a result, 26% of the C&I segment is sensitive to impacts on the financial services industry. Credit Quality Indicators FHN employs a dual grade commercial risk grading methodology to assign an estimate for the probability of default and the loss given default for each commercial loan using factors specific to various industry, portfolio, or product segments that result in a rank ordering of risk and the assignment of grades PD 1 to PD 16. This credit grading system is intended to identify and measure the credit quality of the loan and lease portfolio by analyzing the migration between grading categories. It is also integral to the estimation methodology utilized in determining the ALLL since an allowance is established for pools of commercial loans based on the credit grade assigned. Each PD grade corresponds to an estimated one-year default probability percentage. PD grades are continually evaluated, but require a formal scorecard annually. As a response to the COVID-19 pandemic, FHN identified a segment of its commercial portfolio that requires a quarterly re-grading process. As borrowers recover, they can be removed from the quarterly re-grading process with credit officer concurrence. PD 1 through PD 12 are “pass” grades. PD grades 13-16 correspond to the regulatory-defined categories of special mention (13), substandard (14), doubtful (15), and loss (16). Special mention loans and leases have potential weaknesses that, if left uncorrected, may result in deterioration of FHN's credit position at some future date. Substandard commercial loans and leases have well-defined weaknesses and are characterized by the distinct possibility that FHN will sustain some loss if the deficiencies are not corrected. Doubtful commercial loans and leases have the same weaknesses as substandard loans and leases with the added characteristics that the probability of loss is high and collection of the full amount is improbable. The following tables provide the amortized cost basis of the commercial loan and lease portfolio by year of origination and credit quality indicator as of December 31, 2020: C&I (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 LMC (a) Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) (c) $ 9,081 $ 5,145 $ 2,640 $ 1,762 $ 1,161 $ 2,163 $ 5,404 $ 4,575 $ 62 $ 31,993 Special Mention (PD grade 13) 89 93 70 31 37 64 — 127 1 512 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 161 70 102 36 42 40 — 91 57 599 Total C&I $ 9,331 $ 5,308 $ 2,812 $ 1,829 $ 1,240 $ 2,267 $ 5,404 $ 4,793 $ 120 $ 33,104 (a) LMC includes non-revolving commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors. The loans are of short duration with maturities less than one year. (b) $50 million of C&I loans were converted from revolving to term in 2020. (c) 2020 balance includes PPP loans. CRE (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) $ 2,501 $ 3,311 $ 1,750 $ 1,140 $ 946 $ 1,800 $ 277 $ 19 $ 11,744 Special Mention (PD grade 13) 48 24 117 75 71 54 — — 389 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 6 13 21 42 27 33 — — 142 Total CRE $ 2,555 $ 3,348 $ 1,888 $ 1,257 $ 1,044 $ 1,887 $ 277 $ 19 $ 12,275 The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of December 31, 2019: (Dollars in millions) Loans to Total Percentage Allowance PD Grade: Pass (PD grades 1 through 12) $ 15,036 $ 4,411 $ 4,252 $ 23,699 98 % $ 114 Special Mention (PD grade 13) 233 — 34 267 1 8 Substandard, Doubtful, or Loss (PD grades 14, 15, and 16) 263 — 44 307 1 30 Collectively evaluated for impairment 15,532 4,411 4,330 24,273 100 152 Individually evaluated for impairment 82 — 2 84 — 6 Purchased credit-impaired loans 26 — 5 31 — 1 Total commercial loans $ 15,640 $ 4,411 $ 4,337 $ 24,388 100 % $ 159 (a) C&I includes TRUPS loans, which are presented net of a $19 million valuation allowance. The consumer portfolio is comprised primarily of smaller-balance loans which are very similar in nature in that most are standard products and are backed by residential real estate. Because of the similarities of consumer loan types, FHN is able to utilize the FICO score, among other attributes, to assess the credit quality of consumer borrowers. FICO scores are refreshed on a quarterly basis in an attempt to reflect the recent risk profile of the borrowers. Accruing delinquency amounts are indicators of asset quality within the credit card and other consumer portfolio. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for consumer real estate loans as of December 31, 2020. Within consumer real estate, classes include HELOC and real estate installment. HELOCs are loans which during their draw period are classified as revolving loans. Once the draw period ends and the loan enters its repayment period, the loan converts to a term loan and is classified as revolving loans converted to term loans. All loans classified in the following table as revolving loans or revolving loans converted to term loans are HELOCs. Real estate installment loans are originated as a fixed term loan and are classified below in their vintage year from prior to 2016 to 2020. All loans in the following table classified in a vintage year are real estate installment loans. Consumer real estate (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving loans Revolving Loans converted to term loans (a) Total FICO score 740 or greater $ 1,186 $ 1,167 $ 703 $ 610 $ 674 $ 1,719 $ 1,275 $ 159 $ 7,493 FICO score 720-739 157 158 100 77 92 197 186 29 996 FICO score 700-719 122 107 78 76 73 221 177 34 888 FICO score 660-699 130 141 123 75 85 296 264 59 1,173 FICO score 620-659 45 61 37 28 35 127 92 36 461 FICO score less than 620 107 36 52 54 95 261 61 48 714 Total $ 1,747 $ 1,670 $ 1,093 $ 920 $ 1,054 $ 2,821 $ 2,055 $ 365 $ 11,725 (a) $36 million of HELOC loans were converted from revolving to term in 2020. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for credit card and other loans as of December 31, 2020. Credit card and other (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving loans Revolving Loans converted to term loans Total FICO score 740 or greater $ 57 $ 52 $ 59 $ 37 $ 23 $ 116 $ 159 $ 5 $ 508 FICO score 720-739 7 7 9 8 8 27 91 2 159 FICO score 700-719 9 8 9 8 4 38 37 3 116 FICO score 660-699 30 12 15 9 9 48 46 3 172 FICO score 620-659 5 5 7 5 10 24 20 1 77 FICO score less than 620 14 7 8 11 9 26 20 1 96 Total $ 122 $ 91 $ 107 $ 78 $ 63 $ 279 $ 373 $ 15 $ 1,128 The following table reflects the percentage of balances outstanding by average refreshed FICO scores, for the HELOC and real estate installment classes of loans as of December 31, 2019 : HELOC RE Installment FICO score 740 or greater 62 % 72 % FICO score 720-739 8 8 FICO score 700-719 8 6 FICO score 660-699 11 8 FICO score 620-659 5 3 FICO score less than 620 (a) 6 3 Total 100 % 100 % (a) For this group, a majority of the loan balances had FICO scores at the time of the origination that exceeded 620 but have since deteriorated as the loans have seasoned. Nonaccrual and Past Due Loans and Leases Loans and leases are placed on nonaccrual if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance due to insufficient collateral value and past due status, or on a case-by-case basis if FHN continues to receive payments but there are other borrower-specific issues. Included in nonaccrual are loans for which FHN continues to receive payments including residential real estate loans where the borrower has been discharged of personal obligation through bankruptcy. Past due loans are loans contractually past due as to interest or principal payments, but which have not yet been put on nonaccrual status. In accordance with revised Interagency Guidance issued in 2020, FHN is not required to designate loans with deferrals granted in response to COVID-19 as past due because of such deferrals. If a borrower defers payment, this may result in no contractual payments being past due, and as such, loans would not be considered past due during the period of deferral, and as a result, are excluded from loans past due 30-89 days and loans 90+ days past due in the table below. The following table reflects accruing and non-accruing loans and leases by class on December 31, 2020: Accruing Non-Accruing (Dollars in millions) Current 30-89 90+ Total Current 30-89 90+ Total Total Commercial, financial, and industrial: C&I (a) (b) $ 27,541 $ 15 $ — $ 27,556 $ 88 $ 12 $ 44 $ 144 $ 27,700 Loans to mortgage companies 5,404 — — 5,404 — — — — 5,404 Total commercial, financial, and industrial 32,945 15 — 32,960 88 12 44 144 33,104 Commercial real estate: CRE 12,194 23 — 12,217 10 42 6 58 12,275 Consumer real estate: HELOC 2,336 13 11 2,360 43 3 14 60 2,420 RE installment loans 9,138 40 5 9,183 63 9 50 122 9,305 Total consumer real estate 11,474 53 16 11,543 106 12 64 182 11,725 Credit card and other: Credit card 279 3 1 283 — — — — 283 Other 838 6 — 844 1 — 1 2 845 Total credit card and other 1,117 9 1 1,127 1 — 1 2 1,128 Total loans and leases $ 57,730 $ 100 $ 17 $ 57,847 $ 205 $ 66 $ 115 $ 386 $ 58,232 (a) $101 million of C&I loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (b) C&I loans include TRUPs loans of $210 million, which is net of an amortizing discount of $18 million. The following table reflects accruing and non-accruing loans by class on December 31, 2019: Accruing Non-Accruing (Dollars in millions) Current 30-89 90+ Total Current 30-89 90+ Total Total Commercial, financial, and industrial: C&I (a) $ 15,533 $ 7 $ — $ 15,540 $ 36 $ 14 $ 24 $ 74 $ 15,614 Loans to mortgage companies 4,411 — — 4,411 — — — — 4,411 Purchased credit-impaired loans 24 — 2 26 — — — — 26 Total commercial, financial, and industrial 19,968 7 2 19,977 36 14 24 74 20,051 Commercial real estate: Total commercial real estate 4,329 1 — 4,330 — 1 1 2 4,332 Purchased credit-impaired loans 5 — — 5 — — — — 5 Total commercial real estate 4,334 1 — 4,335 — 1 1 2 4,337 Consumer real estate: HELOC 1,217 9 6 1,232 43 4 8 55 1,287 RE installment loans 4,812 13 9 4,834 21 1 9 31 4,865 Purchased credit-impaired loans 19 3 3 25 — — — — 25 Total consumer real estate 6,048 25 18 6,091 64 5 17 86 6,177 Credit card and other: Credit card 199 1 1 201 — — — — 201 Other 292 2 1 294 — — — — 294 Purchased credit-impaired loans — — — — — — — — 1 Total credit card and other 491 3 2 496 — — — — 496 Total loans $ 30,841 $ 36 $ 22 $ 30,899 $ 100 $ 20 $ 42 $ 162 $ 31,061 Certain previously reported amounts have been reclassified to agree with current presentation. (a) C&I loans include $218 million in TRUPs loans, which are presented net of a valuation allowance of $19 million. Collateral-Dependent Loans Collateral-dependent loans are defined as loans for which repayment is expected to be derived substantially through the operation or sale of the collateral and where the borrower is experiencing financial difficulty. At a minimum, the estimated value of the collateral for each loan equals the current book value. As of December 31, 2020, FHN had C&I loans with amortized cost of approxima tely $167 million that was based on the value of underlying collateral. The collateral for these loans generally consists of business assets including land, buildings, equipment and financial assets. During the year ended December 31, 2020, FHN recognized total charge-offs of approximately $36 million on collateral dependent loans related to reductions in estimated collateral values, $26 million of which were on collateral dependent loans at December 31, 2020. Consumer HELOC and installment loans with amortized cost based on t he value of underlying real estate collateral were approximately $9 million and $26 million, respectively, as of December 31, 2020. Charge-offs during the year ended December 31, 2020 were not significant for either portfolio class. Troubled Debt Restructurings As part of FHN’s ongoing risk management practices, FHN attempts to work with borrowers when necessary to extend or modify loan terms to better align with their current ability to repay. Extensions and modifications to loans are made in accordance with internal policies and guidelines which conform to regulatory guidance. Each occurrence is unique to the borrower and is evaluated separately. A modification is classified as a TDR if the borrower is experiencing financial difficulty and it is determined that FHN has granted a concession to the borrower. FHN may determine that a borrower is experiencing financial difficulty if the borrower is currently in default on any of its debt, or if it is probable that a borrower may default in the foreseeable future. Many aspects of a borrower’s financial situation are assessed when determining whether they are experiencing financial difficulty. Concessions could include extension of the maturity date, reductions of the interest rate (which may make the rate lower than current market for a new loan with similar risk), reduction or forgiveness of accrued interest, or principal forgiveness. The assessments of whether a borrower is experiencing (or is likely to experience) financial difficulty, and whether a concession has been granted, are subjective in nature and management’s judgment is required when determining whether a modification is classified as a TDR. In accordance with regulatory guidance, loans were not accounted for as a TDR and have been excluded from the disclosures below. For loan modifications that were made during the year ended December 31, 2020 that met the TDR relief provisions outlined in either the CARES Act, as extended by the CAA, or revised Interagency Guidance, FHN has excluded these modifications from consideration as a TDR, and has excluded loans with these qualifying modifications from designation as a TDR in the information and discussion that follows. See Note 1 - Significant Accounting Policies and Note 4 – Loans and Leases for further discussion regarding TDRs and loan modifications. For all classes within the commercial portfolio segment, TDRs are typically modified through forbearance agreements (generally 6 to 12 months). Forbearance agreements could include reduced interest rates, reduced payments, release of guarantor, or entering into short sale agreements. FHN’s proprietary modification programs for consumer loans are generally structured using parameters of U.S. government-sponsored programs such as the former Home Affordable Modification Program. Within the HELOC and RE installment loans classes of the consumer portfolio segment, TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 1% for up to 5 years) and a possible maturity date extension to reach an affordable housing debt-to-income ratio. After 5 years, the interest rate generally returns to the original interest rate prior to modification; for certain modifications, the modified interest rate increases 2% per year until the original interest rate prior to modification is achieved. Permanent mortgage TDRs are typically modified by reducing the interest rate (in increments of 25 basis points to a minimum of 2% for up to 5 years) and a possible maturity date extension to reach an affordable housing debt-to-income ratio. After 5 years, the interest rate steps up 1% every year until it reaches the Federal Home Loan Mortgage Corporation Weekly Survey Rate cap. Contractual maturities may be extended to 40 years on permanent mortgages and to 30 years for consumer real estate loans. Within the credit card class of the consumer portfolio segment, TDRs are typically modified through either a short-term credit card hardship program or a longer-term credit card workout program. In the credit card hardship program, borrowers may be granted rate and payment reductions for 6 months to 1 year. In the credit card workout program, clients are granted a rate reduction to 0% and term extensions for up to 5 years to pay off the remaining balance. Despite the absence of a loan modification, the discharge of personal liability through bankruptcy proceedings is considered a concession. As a result, FHN classifies all non-reaffirmed residential real estate loans discharged in Chapter 7 bankruptcy as nonaccruing TDRs. On December 31, 2020 and 2019, FHN had $307 million and $206 million of portfolio loans classified as TDRs, respectively. For TDRs in the loan portfolio, FHN had an ALLL of $12 million, or 4% as of December 31, 2020, and $20 million, or 10% as of December 31, 2019. Additionally, $42 million and $51 million of loans held for sale as of December 31, 2020 and 2019, respectively, were classified as TDRs. The following tables present the end of period balance for loans modified in a TDR during the years ended December 31, 2020 and 2019: 2020 2019 (Dollars in millions) Number Pre-Modification Post-Modification Number Pre-Modification Post-Modification Commercial, financial, and industrial: C&I 112 $ 195 $ 188 4 $ 14 $ 14 Commercial real estate: CRE 19 15 15 — — — Consumer real estate: HELOC 64 5 5 74 8 8 RE installment loans 117 20 19 104 12 12 Total consumer real estate 181 25 24 178 20 20 Credit card and other 56 1 1 85 1 1 Total TDRs 368 $ 236 $ 228 267 $ 35 $ 35 The following tables present TDRs which re-defaulted during 2020 and 2019, and as to which the modification occurred 12 months or less prior to the re-default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due. 2020 2019 (Dollars in millions) Number Recorded Number Recorded Commercial, financial, and industrial: C&I 9 $ 1 — $ — Consumer real estate: HELOC 8 — 7 1 RE installment loans 18 1 4 — Total consumer real estate 26 1 11 1 Credit card and other 24 — 32 — Total TDRs 59 $ 2 43 $ 1 Loans Acquired with Deteriorated Credit Quality Upon FHN's adoption of CECL, PCD loans are recorded at an initial amortized cost, which is the sum of the purchase price and the estimated credit losses recorded in the ALLL. Subsequent to this initial recognition, PCD loans are accounted for under the same methodology as non-PCD loans. As discussed in Note 2, on July 1, 2020, FHN and IBKC closed their merger of equals transaction. On July 17, 2020, First Horizon Bank completed its purchase of 30 branches from Truist Bank. In connection with these transactions, FHN acquired approximately $25.9 billion in loans from IBKC and purchased approximately $423 million of branch loans from Truist Bank. For PCD loans acquired or purchased during 2020, a reconciliation of the unpaid principal balance, contractual cash flow owed to FHN at acquisition date, and purchase price is presented in the following table. (Dollars in millions) C&I CRE Consumer Real Estate Credit Card and Other Total Par value (UPB) $ 4,075 $ 6,435 $ 2,394 $ 193 $ 13,097 Allowance for loan and lease losses (138) (100) (44) (5) (287) (Discount) premium (64) 3 (32) — (93) Purchase price $ 3,873 $ 6,338 $ 2,318 $ 188 $ 12,717 Purchased Credit-Impaired Loans Before the adoption of CECL on January 1, 2020, FHN applied the guidance in ASC 310-30 to loans that were identified as PCI loans at the acquisition date. The following table presents a rollforward of the accretable yield for the year ended December 31, 2019 and 2018: Year Ended December 31, (Dollars in millions) 2019 2018 Balance, beginning of period $ 13 $ 16 Accretion (6) (10) Adjustment for payoffs (2) (4) Adjustment for charge-offs (1) (1) Increase in accretable yield (a) 6 13 Other — (1) Balance, end of period $ 10 $ 13 (a) Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows. At December 31, 2019, the ALLL related to PCI loans was $2 million. Net charge-offs related to PCI loans during 2019 were $6 million, compared to $7 million in 2018. The provision for loan losses related to PCI loans during both 2019 and 2018 was $1 million. The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of December 31, 2019: December 31, 2019 (Dollars in millions) Carrying value Unpaid balance Commercial, financial and industrial $ 25 $ 26 Commercial real estate 5 5 Consumer real estate 23 26 Credit card and other 1 1 Total $ 54 $ 58 Impaired Loans The following tables provide additional disclosures previously required by ASC Topic 310 related to FHN's December 31, 2019 balances. Information on impaired loans at December 31, 2019 was as follows: December 31, 2019 (Dollars in millions) Recorded Unpaid Related Average Recorded Interest Impaired loans with no related allowance recorded: Commercial: C&I $ 53 $ 64 $ — $ 61 $ 1 Loans to mortgage companies — — — 9 — CRE 1 1 — 2 — Total $ 54 $ 65 $ — $ 72 $ 1 Consumer: HELOC (a) $ 5 $ 10 $ — $ 7 $ — RE installment loans (a) 7 10 — 8 — Total $ 12 $ 20 $ — $ 15 $ — Impaired loans with related allowance recorded: Commercial: C&I $ 30 $ 32 $ 6 $ 17 $ — Consumer: HELOC $ 56 $ 59 $ 7 $ 61 $ 2 RE installment loans 94 104 13 104 3 Credit card and other 1 1 — 1 — Total $ 151 $ 164 $ 20 $ 166 $ 5 Total commercial $ 84 $ 97 $ 6 $ 89 $ 1 Total consumer $ 163 $ 184 $ 20 $ 181 $ 5 Total impaired loans $ 247 $ 281 $ 26 $ 270 $ 6 (a) All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance.

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses Management's estimate of expected credit losses in the loan and lease portfolios is recorded in the ALLL and the reserve for unfunded lending commitments, collectively the ACL. Upon adoption of CECL effective January 1, 2020, FHN's ACL methodology changed to estimate expected credit losses over the contractual life of loans and leases. See Note 1 - Significant Accounting Policies for a further discussion of FHN's ACL methodology for periods prior to 2020. As previously discussed, on July 1, 2020 FHN completed the IBKC merger. This resulted in an increase in the ACL during the third quarter of 2020 to reflect the estimate of expected credit losses on the acquired IBKC loan portfolio. Of the increase, $284 million reflects the initial allowance on legacy IBKC loans acquired with purchased credit deterioration. See Note 2 – Acquisition and Divestitures for discussion of the alignment of the ACL policies. The ACL is maintained at a level management believes to be appropriate to absorb expected lifetime credit losses over the contractual life of the loan and lease portfolio and unfunded lending commitments. The determination of the ACL is based on periodic evaluation of the loan and lease portfolios and unfunded lending commitments considering a number of relevant underling factors, including key assumptions and evaluation of quantitative and qualitative information. The expected loan losses are the product of multiplying FHN’s estimates of probability of default (PD), loss given default (LGD), and individual loan level exposure as default (EAD) on an undiscounted basis. FHN uses models to develop the PD and LGD, which incorporates a single macroeconomic forecast over a four year reasonable and supportable forecast period. After the reasonable and supportable forecast period, the Company immediately reverts to its historical loss averages, evaluated over the historical observation period, for the remaining estimated life of the loans. FHN uses prepayment models which project prepayments over the life of the loans. In order to capture the unique risks of the loan portfolio within the PD, LGD, and prepayment models, FHN segments the portfolio into pools, incorporating loan grades for commercial loans. FHN uses qualitative adjustments to adjust historical loss information in situations where current loan characteristics differ from those in the historical loss information and for differences in economic conditions, macroeconomic forecasts and other factors. The evaluation of quantitative and qualitative information is performed through assessments of groups of assets that share similar risk characteristics and certain individual loans and leases that do not share similar risk characteristics with the collective group. As described in Note 4 - Loans and Leases, loans are grouped generally by product type and significant loan portfolios are assessed for credit losses using analytical models. The quantitative evaluation of the adequacy of the ACL utilizes a single economic forecast as its foundation, and is primarily based on analytical models that use known or estimated data as of the balance sheet date and forecasted data over the reasonable and supportable period. The ACL may also be affected by a variety of qualitative factors that FHN considers to reflect current judgment of various events and risks that are not measured in the statistical procedures. In accordance with its accounting policy elections, FHN does not recognize a separate allowance for expected credit losses for AIR and records reversals of AIR as reductions of interest income. FHN reverses previously accrued but uncollected interest when an asset is placed on nonaccrual status. As of December 31, 2020, FHN recognized approximately $1 million in allowance for expected credit losses on COVID-19 deferrals that do not qualify for the election which is not reflected in the table below. AIR and the related allowance for expected credit losses is included as a component of other assets. The total amount of interest reversals from loans placed on nonaccrual status and the amount of income recognized on nonaccrual loans during the year ended December 31, 2020 were not material. Expected credit losses for unfunded commitments are estimated for periods where the commitment is not unconditionally cancellable. The measurement of expected credit losses for unfunded commitments mirrors that of loans and leases with the additional estimate of future draw rates (timing and amount). The following table provides a rollforward of the allowance for loan and lease losses and the reserve for unfunded lending commitments by portfolio type for December 31, 2020, 2019 and 2018: (Dollars in millions) Commercial, Financial, and Industrial (a) Commercial Consumer Credit Card Total Allowance for loan and lease losses: Balance as of January 1, 2020 $ 123 $ 36 $ 28 $ 13 $ 200 Adoption of ASU 2016-13 19 (7) 93 2 107 Balance as of January 1, 2020, as adjusted 142 29 121 15 307 Charge-offs (b) (129) (5) (8) (14) (156) Recoveries 9 4 18 5 36 Initial allowance on loans purchased with credit deterioration (b) 138 100 44 5 287 Provision for loan and lease losses (c) 293 114 67 15 489 Balance as of December 31, 2020 453 242 242 26 963 Reserve for unfunded lending commitments: Balance as of January 1, 2020 4 2 — — 6 Adoption of ASU 2016-13 17 1 6 — 24 Balance as of January 1, 2020, as adjusted 21 3 6 — 30 Initial reserve on loans acquired 12 26 3 — 41 Provision for unfunded lending commitments 32 (19) 1 — 14 Balance as of December 31, 2020 $ 65 $ 10 $ 10 $ — $ 85 Allowance for loan losses: Balance as of January 1, 2019 $ 99 $ 31 $ 37 $ 13 $ 180 Charge-offs (34) (1) (8) (16) (59) Recoveries 7 1 20 4 32 Provision (provision credit) for loan losses 51 5 (21) 12 47 Balance as of December 31, 2019 123 36 28 13 200 Reserve for unfunded lending commitments: Balance as of January 1, 2019 4 3 — — 7 Provision (provision credit) for unfunded lending commitments — (1) — — (1) Balance as of December 31, 2019 $ 4 $ 2 $ — $ — $ 6 Allowance for loan losses: Balance as of January 1, 2018 $ 98 $ 28 $ 53 $ 10 $ 189 Charge-offs (15) (1) (10) (20) (46) Recoveries 4 1 21 4 30 Provision (provision credit) for loan losses 12 3 (27) 19 7 Balance as of December 31, 2018 99 31 37 13 180 Reserve for unfunded lending commitments: Balance as of January 1, 2018 3 2 — — 5 Provision (provision credit) for unfunded lending commitments 1 1 — — 2 Balance as of December 31, 2018 $ 4 $ 3 $ — $ — $ 7 (a) C&I loans as of December 31, 2020 include $4.1 billion in PPP loans which due to the government guarantee and forgiveness provisions are considered to have no credit risk and therefore have no ALLL. (b) The year ended December 31, 2020 excludes day 1 charge-offs and the related initial allowance on PCD loans is net of these amounts. Under the new CECL standard, the initial ALLL recognized on PCD assets included an additional $237 million for charged-off loans that had been written off prior to acquisition (whether full or partial) or which met FHN's charge-off policy at the time of acquisition. After charging these amounts off immediately upon acquisition, the net impact was $287 million of additional ALLL for PCD loans. (c) Provision for loan and lease losses for the year ended December 31, 2020 includes $147 million recognized on non-PCD loans from the IBKC merger and Truist branch acquisition. The difference in the ACL as of December 31, 2020 as compared to December 31, 2019 continues to be driven by the Company's adoption of CECL on January 1, 2020, as well as the COVID-19 pandemic and the resulting economic impacts, including to economic forecasts. Additionally, the ACL increased during the third quarter of 2020 to reflect the estimate of expected credit losses on the acquired IBKC loan portfolio. In developing credit loss estimates for its loan and lease portfolios, FHN selected Moody’s baseline forecast as the primary source for its macroeconomic inputs, which included assumptions that were generally in line with Blue Chip Economic Indicators, including: • An unemployment rate of 7.4% and 6.2% for 2021 and 2022, respectively • GDP growth rates of 4.1% and 4.7% for 2021 and 2022, respectively • No further serious business disruption related to COVID-19, and • An unchanged target Fed funds range until late 2023. As there can be no certainty that actual economic performance will precisely follow any specific macroeconomic forecast, FHN also evaluated other macroeconomic forecasts provided by Moody’s and adjusted the modeled outputs through a qualitative adjustment to account for uncertainties inherent in the macroeconomic forecast process. Additionally, where macroeconomic forecast variables used in the models did not take into effect the impact of federal stimulus and bank-supported payment deferral and forbearance programs on the timing of grade migration and recognition of loss content, management adjusted model outputs qualitatively to account for this assistance. During the year ended December 31, 2020, FHN also utilized targeted reviews of higher stressed loan portfolios or industries that are most exposed to the effects of the COVID-19 pandemic, including Franchise Finance, Energy, Non-Profit, Arts and Entertainment, Restaurants outside of Franchise Finance, Nursing/Assisted Living and Hospitality within the C&I segment and CRE-Hospitality and CRE-Retail within the Commercial Real Estate segment. This analysis reviewed the level of impact from COVID-19 and the likelihood of additional financial assistance needed beyond 180 days. This analysis was utilized in developing qualitative adjustments to increase the recorded ALLL attributable to these components beyond the modeled results. FHN reviewed consumer deferrals and forbearance payment rates to analyze the likelihood clients will have difficulty making payments after the

Premises, Equipment, and Leases

Premises, Equipment, and Leases	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Premises, Equipment, and Leases	Premises, Equipment, and Leases Premises and equipment were comprised of the following at December 31, 2020 and 2019: (Dollars in millions) December 31, 2020 December 31, 2019 Land $ 182 $ 99 Buildings 594 429 Leasehold improvements 73 50 Furniture, fixtures, and equipment 269 205 Fixed assets held for sale (a) 18 10 Total premises and equipment 1,136 793 Less accumulated depreciation and amortization (377) (338) Premises and equipment, net $ 759 $ 455 (a) Primarily comprised of land and buildings. In 2020 and 2019, FHN recognized $12 million and $27 million, respectively, of fixed asset impairments and lease abandonment charges related to branch closures which are included in Other expense on the Consolidated Statements of Income. In 2020 and 2019, FHN had an insignifcant amount and $2 million of net gains, respectively, related to the sales of bank branches which are included in Other income on the Consolidated Statements of Income. First Horizon as Lessee FHN has operating, financing, and short-term leases for branch locations, corporate offices and certain equipment. Substantially all of these leases are classified as operating leases. The following table provides a detail of the classification of FHN's right-of-use assets and lease liabilities included in the Consolidated Balance Sheets. (Dollars in millions) December 31, 2020 December 31, 2019 Lease Right-of-Use Assets: Classification Operating lease right-of use assets Other assets $ 367 $ 202 Finance lease right-of use assets Other assets 4 2 Total Lease Right-of Use Assets $ 371 $ 204 Lease Liabilities: Operating lease liabilities Other liabilities $ 407 $ 223 Finance lease liabilities Other liabilities 4 3 Total Lease Liabilities $ 411 $ 226 The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The following table details the weighted average remaining lease term and discount rate for FHN's operating and finance leases as of December 31, 2020 and 2019. December 31, 2020 December 31, 2019 Weighted Average Remaining Lease Terms Operating leases 12.49 years 12.36 years Finance leases 11.45 years 9.61 years Weighted Average Discount Rate Operating leases 2.39 % 3.24 % Finance leases 3.05 % 4.77 % The following table provides a detail of the components of lease expense and other lease information for the years ended December 31, 2020 and 2019: (Dollars in millions) 2020 2019 Lease cost Operating lease cost $ 39 $ 25 Sublease income (1) — Total lease cost $ 38 $ 25 Other information (Gain) loss on right-of-use asset impairment - operating leases $ 6 $ 3 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 41 23 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 216 48 Finance leases 2 1 The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of December 31, 2020: (Dollars in millions) December 31, 2020 2021 $ 52 2022 49 2023 44 2024 40 2025 38 2026 and thereafter 257 Total lease payments 480 Less lease liability interest (69) Total $ 411 FHN had no aggregate undiscounted contractual obligations for lease arrangements that have not commenced as of December 31, 2020. First Horizon as Lessor As a lessor, FHN engages in the leasing of equipment to commercial clients primarily through direct financing and sales-type leases. Direct financing and sales-type leases are similar to other forms of installment lending in that lessors generally do not retain benefits and risks incidental to ownership of the property subject to leases. Such arrangements are essentially financing transactions that permit lessees to acquire and use property. As lessor, the sum of all minimum lease payments over the lease term and the estimated residual value, less unearned interest income, is recorded as the net investment in the lease on the commencement date and is included in loans and leases in the Consolidated Balance Sheets. Interest income is accrued as earned over the term of the lease based on the net investment in leases. Fees incurred to originate the lease are deferred on the commencement date and recognized as an adjustment of the yield on the lease. FHN’s portfolio of direct financing and sales-type leases contains terms of 2 to 23 years. Some of these leases contain options to extend the leases for up to 12 months and/or to terminate the lease within one year. These direct financing and sales-type leases typically include a payment structure set at lease inception and do not provide any additional services. Expenses associated with the leased equipment, such as maintenance and insurance, are paid by the lessee directly to third parties. The lease agreement typically contains an option for the purchase of the leased property by the lessee at the end of the lease term at either the property’s residual value or a specified price. In all cases, FHN expects to sell or re-lease the equipment at the end of the lease term. Due to the nature and structure of FHN’s direct financing and sales-type leases, there is no selling profit or loss on these transactions. The components of the Company’s net investment in leases as of December 31, 2020 were as follows: (Dollars in millions) Lease receivable $ 535 Unearned income (99) Guaranteed residual 92 Unguaranteed residual 68 Total net investment $ 596 For the year ended December 31, 2020, interest income for direct financing or sales-type leases totaled $10 million. During the year ended December 31, 2020, there was no profit or loss recognized at the commencement date for direct financing or sales-type leases. Maturities of the Company's lease receivables as of December 31, 2020 were as follows: (Dollars in millions) December 31, 2020 2021 $ 97 2022 92 2023 75 2024 54 2025 38 2026 and thereafter 179 Total future minimum lease payments $ 535

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill On July 1, 2020, FHN completed its merger of equals transaction with IBERIABANK Corporation. In connection with the merger, FHN recorded a $533 million purchase accounting gain, based on preliminary fair value estimates. On July 17, 2020, FHN completed its purchase of 30 branches from Truist Bank. In relation to the acquisition, FHN recorded $78 million in goodwill, based on preliminary fair value estimates. See Note 2 - Acquisitions and Divestitures for additional information regarding these transactions. FHN performed the required annual goodwill impairment test as of October 1, 2020. The annual impairment test did not indicate impairment in any of FHN’s reporting units as of the testing date. Following the testing date, management evaluated the events and circumstances that could indicate that goodwill might be impaired and concluded that a subsequent interim test was not necessary. As further discussed in Note 20 - Business Segment Information, FHN reorganized its management reporting structure during the fourth quarter of 2020 and, accordingly, its segment reporting structure and goodwill reporting units. In connection with the reorganization, management reallocated goodwill to the new reporting units using a relative fair value approach. Accounting estimates and assumptions were made about FHN’s future performance and cash flows, as well as other prevailing market factors (e.g., interest rates, economic trends, etc.) when determining fair value as part of the goodwill impairment test. While management used the best information available to estimate future performance for each reporting unit, future adjustments to management’s projections may be necessary if conditions differ substantially from the assumptions used in making the estimates. The following table presents goodwill allocated to each reportable segment at December 31, 2020: (Dollars in millions) Regional Specialty Total December 31, 2017 $ 773 $ 614 $ 1,387 Additions 29 17 46 December 31, 2018 $ 802 $ 631 $ 1,433 Additions — — — December 31, 2019 $ 802 $ 631 $ 1,433 Additions 78 — 78 December 31, 2020 $ 880 $ 631 $ 1,511 Other intangible assets In connection with the IBKC merger and the Truist branch acquisition, FHN recorded $207 million and $7 million of core deposit intangible assets, respectively. Core deposit intangible assets are subject to amortization over a ten $14 million of client relationship intangible assets, $10 million of purchased credit card intangible assets, and $10 million of title plant related to title company operations. The following table, which excludes fully amortized intangibles, presents other intangible assets included in the Consolidated Balance Sheets: December 31, 2020 December 31, 2019 (Dollars in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Core deposit intangibles $ 371 $ (81) $ 290 $ 157 $ (47) $ 110 Client relationships 37 (8) 29 78 (60) 18 Other (a) 41 (6) 35 6 (3) 3 Total $ 449 $ (95) $ 354 $ 241 $ (110) $ 131 (a) Includes noncompete covenants and purchased credit card intangible assets. Also includes title plant intangible assets and state banking licenses which are not subject to amortization. Amortization expense was $40 million, $25 million, and $26 million for the years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020 the estimated aggregated amortization expense is expected to be: (Dollars in millions) Year Amortization 2021 $ 56 2022 51 2023 48 2024 44 2025 37

Mortgage Banking Activity

Mortgage Banking Activity	12 Months Ended
	Dec. 31, 2020
Mortgage Banking [Abstract]
Mortgage Banking Activity	Mortgage Banking Activity On July 1, 2020 as part of the IBKC merger, FHN obtained IBKC mortgage banking operations which included origination and servicing of residential first lien mortgages that conform to standards established by GSEs that are major investors in U.S. home mortgages, but can also consist of junior lien loans secured by residential property. These loans are primarily sold to private companies that are unaffiliated with the GSEs on a servicing-released basis. Gains and losses on these mortgage loans are included in mortgage banking and title income on the Consolidated Statements of Income. Prior to the merger, FHN’s mortgage banking operations were not significant; however, at December 31, 2020 FHN had approximately $55 million of loans that remained from pre-2009 Mortgage Business operations. Activity related to the pre-2009 mortgage loans was primarily limited to payments and write-offs in 2020, with no new originations or loan sales and only an insignificant amount of repurchases and is excluded from the disclosure below. The following table summarizes activity relating to residential mortgage loans held for sale for the year ended December 31, 2020: (Dollars in millions) Year ended December 31, 2020 Balance at beginning of period $ 4 Acquired 320 Originations and purchases 2,499 Sales, net of gains (2,405) Mortgage loans transferred to held for investment (9) Balance at end of period $ 409 Mortgage Servicing Rights Effective with the IBKC merger, FHN made an election to record mortgage servicing rights at the lower of cost or market value and amortize over the remaining servicing life of the loans, with consideration given to prepayment assumptions. Mortgage servicing rights are included in Other assets on the Consolidated Balance Sheets. Mortgage servicing rights had the following carrying values as of the period indicated. December 31, 2020 (Dollars in millions) Gross Carrying Accumulated Net Carrying Amount Mortgage servicing rights $ 28 $ (3) $ 25

Deposits

Deposits	12 Months Ended
	Dec. 31, 2020
Maturities of Time Deposits [Abstract]
Deposits	Deposits The composition of deposits is presented in the following table: (Dollars in millions) 2020 2019 Savings $ 27,324 $ 11,665 Time deposits 5,070 3,618 Other interest-bearing deposits 15,415 8,718 Interest-bearing deposits 47,809 24,001 Noninterest-bearing 22,173 8,429 Total deposits $ 69,982 $ 32,430 Time deposits tha t exceed t he FDIC insurance limit of $250,000 at December 31, 2020 and 2019 were $1.4 billion and $0.9 billion, respectively. Scheduled maturities of time deposits as of December 31, 2020 were as follows: (Dollars in millions) 2021 $ 3,952 2022 776 2023 157 2024 91 2025 62 2026 and after 32 Total $ 5,070

Short-term borrowings

Short-term borrowings	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-term borrowings	Short-Term Borrowings A summary of short-term borrowings for the years 2020, 2019 and 2018 is presented in the following table: (Dollars in millions) Trading Liabilities Federal Funds Purchased Securities Sold Under Agreements to Repurchase Other Short-term Borrowings 2020 Average balance $ 457 $ 862 $ 1,109 $ 626 Year-end balance 353 845 1,187 166 Maximum month-end outstanding 983 1,487 1,661 4,061 Average rate for the year 1.24 % 0.34 % 0.46 % 0.92 % Average rate at year-end 0.77 0.10 0.26 0.09 2019 Average balance $ 503 $ 738 $ 701 $ 538 Year-end balance 506 548 717 2,253 Maximum month-end outstanding 754 1,282 772 2,276 Average rate for the year 2.48 % 2.08 % 1.89 % 2.34 % Average rate at year-end 2.07 1.55 1.72 2.14 2018 Average balance $ 683 $ 405 $ 714 $ 1,047 Year-end balance 335 257 763 115 Maximum month-end outstanding 891 503 891 2,229 Average rate for the year 2.83 % 1.89 % 1.40 % 1.82 % Average rate at year-end 3.21 2.50 1.66 2.48 Federal funds purchased and securities sold under agreements to repurchase generally have maturities of less than 90 days. Trading liabilities, which represent short positions in securities, are generally held for less than 90 days. Other short-term borrowings have original maturities of one year or less. On December 31, 2020, fixed income trading securities with a fair value of $2 million were pledged to secure other short-term borrowings.

Term Borrowings

Term Borrowings	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Term Borrowings	Term Borrowings The following table presents information pertaining to term borrowings on December 31,: ( Dollars in millions ) 2020 2019 First Horizon Bank: Subordinated notes (a) Maturity date – May 1, 2030 - 5.75% on December 31, 2020 $ 447 $ — Other collateralized borrowings - Maturity date – December 22, 2037 0.52% on December 31, 2020 and 2.19% on December 31, 2019 (b) 82 81 Other collateralized borrowings - SBA loans (c) 15 22 First Horizon Corporation: Senior notes Maturity date – December 15, 2020 – 3.50% on December 31, 2019 (d) — 496 Maturity date – May 26, 2023 - 3.55% on December 31, 2020 447 — Maturity date – May 26, 2025 - 4.00% on December 31, 2020 348 — Junior subordinated debentures (e) 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 - 1.90% on December 31, 2020 and 3.57% on December 31, 2019 3 3 Maturity date - December 15, 2035 - 1.59% on December 31, 2020 and 3.26% on December 31, 2019 18 18 Maturity date - March 15, 2036 - 1.62% on December 31, 2020 and 3.29% on December 31, 2019 9 9 Maturity date - March 15, 2036 - 1.76% on December 31, 2020 and 3.43% on December 31, 2019 12 12 Maturity date - June 30, 2036 - 1.56% on December 31, 2020 and 3.28% on December 31, 2019 27 26 Maturity date - July 7, 2036 - 1.79% on December 31, 2020 and 3.54% on December 31, 2019 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 - 1.87% on December 31, 2020 and 3.54% on December 31, 2019 51 51 Maturity date - September 6, 2037 - 1.66% on December 31, 2020 and 3.32% on December 31, 2019 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, 1.27% to 4.95% on December 31, 2020 45 — FT Real Estate Securities Company, Inc.: Cumulative preferred stock (f) Maturity date – March 31, 2031 – 9.50% 46 46 Total $ 1,670 $ 791 (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 2 to 24 years. These borrowings had a weighted average interest rate of 3.90% and 3.95% on December 31, 2020 and 2019, respectively. (d) Early redeemed on November 15, 2020. Changes in the fair value of debt attributable to interest rate risk are hedged. Refer to Note 22 – Derivatives. (e) Acquired in conjunction with the acquisitions of CBF and merger with IBKC. A portion qualifies for Tier 2 capital under the risk-based capital guidelines. (f) In 2020, a portion qualifies for Tier 2 capital under the risk-based capital guidelines for both First Horizon Bank and First Horizon Corporation. In 2019, only a portion qualified as Tier 2 capital. Annual principal repayment requirements as of December 31, 2020 are as follows: ( Dollars in millions ) 2021 $ — 2022 — 2023 450 2024 — 2025 and after 1,274 In conjunction with its transactions, FHN obtained junior subordinated debentures, each of which is held by a wholly-owned trust that has issued trust preferred securities to external investors and loaned the funds to FHN as junior subordinated debt. The book value for each issuance represents the purchase accounting fair value as of the closing date less accumulated amortization of the associated discount, as applicable. Through various contractual arrangements FHN assumed a full and unconditional guarantee for each trust’s obligations with respect to the securities. While the maturity dates are typically 30 years from the original issuance date, FHN has the option to redeem each of the junior subordinated debentures at par on any future interest payment date, which would trigger redemption of the related trust preferred securities. A portion of FHN's junior subordinated notes qualify as Tier 2 capital under the risk-based capital guidelines.

Preferred Stock

Preferred Stock	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Preferred Stock	Preferred Stock FHN Preferred Stock The following table presents a summary of FHN's non-cumulative perpetual preferred stock: December 31, 2020 2019 (Dollars in millions) Issuance Date Earliest Redemption Date (a) Annual Dividend Rate Dividend Payments Shares Outstanding Liquidation Amount Carrying Amount Carrying Amount Series A 1/31/2013 4/10/2018 6.200 % Quarterly 1,000 $ 100 $ 96 $ 96 Series B 7/2/2020 8/1/2025 6.625 % (b) Semi-annually 8,000 80 77 — Series C 7/2/2020 5/1/2026 6.600 % (c) Quarterly 5,750 58 59 — Series D 7/2/2020 5/1/2024 6.100 % (d) Semi-annually 10,000 100 93 — Series E 5/28/2020 10/10/2025 6.500 % Quarterly 1,500 150 145 — 26,250 $ 488 $ 470 $ 96 (a) Denotes earliest optional redemption date. Earlier redemption is possible, at FHN's election, if certain regulatory capital events occur. (b) Fixed dividend rate will reset on August 1, 2025 to three-month LIBOR plus 4.262% (c) Fixed dividend rate will reset on May 1, 2026 to three-month LIBOR plus 4.920% (d) Fixed dividend rate will reset on May 1, 2024 to three-month LIBOR plus 3.859% Subsidiary Preferred Stock First Horizon Bank has issued 300,000 shares of Class A Non-Cumulative Perpetual Preferred Stock (Class A Preferred Stock) with a liquidation preference of $1,000 per share. Dividends on the Class A Preferred Stock, if declared, accrue and are payable each quarter, in arrears, at a floating rate equal to the greater of the three month LIBOR plus 0.85% or 3.75% per annum. These securities qualify fully as Tier 1 capital for First Horizon Bank, while for FHN they qualify partially as Tier 1 capital and partially as Tier 2 capital. On December 31, 2020 and 2019, $295 million of Class A Preferred Stock was recognized as Noncontrolling interest on the Consolidated Balance Sheets. FT Real Estate Securities Company, Inc. (FTRESC), an indirect subsidiary of FHN, has issued 50 shares of 9.50% Cumulative Preferred Stock, Class B (Class B Preferred Shares), with a liquidation preference of $1 million per share; of those shares, 47 were issued to nonaffiliates. FTRESC is a real estate investment trust established for the purpose of acquiring, holding, and managing real estate mortgage assets. Dividends on the Class B Preferred Shares are cumulative and are payable semi-annually. At December 31, 2020, the Class B Preferred Shares partially qualified as Tier 2 regulatory capital. For all periods presented, these securities are presented in the Consolidated Balance Sheets as Term borrowings.

Regulatory Capital and Restrict

Regulatory Capital and Restrictions	12 Months Ended
	Dec. 31, 2020
Brokers and Dealers [Abstract]
Regulatory Capital and Restrictions	Regulatory Capital and Restrictions Regulatory Capital. FHN is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on FHN’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, FHN must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated pursuant to regulatory directives. Capital amounts and classification are also subject to qualitative judgment by the regulators such as capital components, asset risk weightings, and other factors. Management believes that, as of December 31, 2020, FHN and First Horizon Bank met all capital adequacy requirements to which they were subject. As of December 31, 2020, First Horizon Bank was classified as well-capitalized under the regulatory framework for prompt corrective action. To be categorized as well-capitalized, an institution must maintain minimum Total Risk-Based, Tier 1 Risk-Based, Common Equity Tier 1 and Tier 1 Leverage ratios as set forth in the following table. Management believes that no events or changes have occurred subsequent to year-end that would change this designation. Quantitative measures established by regulation to ensure capital adequacy require FHN to maintain minimum ratios as set forth in the following table. FHN and First Horizon Bank are also subject to a 2.5% capital conservation buffer which is an amount above the minimum levels designed to ensure that banks remain well-capitalized, even in adverse economic scenarios. The actual capital amounts and ratios of FHN and First Horizon Bank are presented in the table below. (Dollars in millions) First Horizon Corporation First Horizon Bank Amount Ratio Amount Ratio On December 31, 2020 Actual: Total Capital $ 7,935 12.57 % $ 7,819 12.52 % Tier 1 Capital 6,782 10.74 6,825 10.93 Common Equity Tier 1 6,110 9.68 6,530 10.46 Leverage 6,782 8.24 6,825 8.36 Minimum Requirement for Capital Adequacy Purposes: Total Capital 5,051 8.00 5,001 8.00 Tier 1 Capital 3,788 6.00 3,751 6.00 Common Equity Tier 1 2,841 4.50 2,813 4.50 Leverage 3,294 4.00 3,268 4.00 Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: Total Capital 6,251 10.00 Tier 1 Capital 5,001 8.00 Common Equity Tier 1 4,063 6.50 Leverage 4,085 5.00 On December 31, 2019 Actual: Total Capital $ 4,155 11.22 % $ 3,945 10.77 % Tier 1 Capital 3,761 10.15 3,729 10.18 Common Equity Tier 1 3,409 9.20 3,434 9.38 Leverage 3,761 9.04 3,729 9.12 Minimum Requirement for Capital Adequacy Purposes: Total Capital 2,964 8.00 2,930 8.00 Tier 1 Capital 2,223 6.00 2,198 6.00 Common Equity Tier 1 1,667 4.50 1,648 4.50 Leverage 1,663 4.00 1,635 4.00 Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: Total Capital 3,663 10.00 Tier 1 Capital 2,930 8.00 Common Equity Tier 1 2,381 6.50 Leverage 2,043 5.00 Restrictions on cash and due from banks. Under the Federal Reserve Act and Regulation D, First Horizon Bank is required to maintain a certain amount of cash reserves. However, as a result of the COVID-19 pandemic, the Fed announced it has reduced its reserve requirement to zero, and as a result, on December 31, 2020, First Horizon Bank was not required to maintain cash reserves after the consideration of $397 million in average vault cash. On December 31, 2019, First Horizon Bank's net required reserves were $396 million. The remaining net reserve requirement was met with Federal Reserve Bank deposits. Restrictions on dividends. Cash dividends are paid by FHN from its assets, which are mainly provided by dividends from its subsidiaries. Certain regulatory restrictions exist regarding the ability of First Horizon Bank to transfer funds to FHN in the form of cash, dividends, loans, or advances. As of December 31, 2020, First Horizon Bank had undivided profits of $1.8 billion, of which a limited amount was available for distribution to FHN as dividends without prior regulatory approval. At any given time, the pertinent portions of those regulatory restrictions allow First Horizon Bank to declare preferred or common dividends without prior regulatory approval in an amount equal to First Horizon Bank's retained net income for the two most recent completed years plus the current year to date. For any period, First Horizon Bank’s ‘retained net income’ generally is equal to First Horizon Bank’s regulatory net income reduced by the preferred and common dividends declared by First Horizon Bank. Applying the dividend restrictions imposed under applicable federal and state rules, First Horizon Bank’s total amount available for dividends was $897 million at January 1, 2021. First Horizon Bank declared and paid common dividends to the parent company in the amount of $180 million in 2020 and $345 million in 2019. During 2020 and 2019, First Horizon Bank declared and paid dividends on its preferred stock according to the payment terms of its issuances as noted in Note 12 - Preferred Stock. The payment of cash dividends by FHN and First Horizon Bank may also be affected or limited by other factors, such as the requirement to maintain adequate capital above regulatory guidelines. Furthermore, the Federal Reserve generally requires insured banks and bank holding companies only to pay dividends out of current operating earnings. Restrictions on intercompany transactions. Under current Federal banking laws, First Horizon Bank may not enter into covered transactions with any affiliate including the parent company and certain financial subsidiaries in excess of 10% of the bank’s capital stock and surplus, as defined, or $804 million, on December 31, 2020. Covered transactions include a loan or extension of credit to an affiliate, a purchase of or an investment in securities issued by an affiliate and the acceptance of securities issued by the affiliate as collateral for any loan or extension of credit. The equity investment, including retained earnings, in certain of a bank’s financial subsidiaries is also treated as a covered transaction. On December 31, 2020, the parent company had covered transactions of less than $1 million from First Horizon Bank and two of the bank’s financial subsidiaries, FHN Financial Securities Corp. and First Horizon Advisors, Inc., had covered transactions from First Horizon Bank totaling $394 million and $42 million, respectively. In addition, the aggregate amount of covered transactions with all affiliates, as defined, is limited to 20% of the bank’s capital stock and surplus, as defined, or $1.6 billion, on December 31, 2020. First Horizon Bank’s total covered transactions with all affiliates including the parent company on December 31, 2020 were $436 million.

Components of Other Comprehensi

Components of Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of Other Comprehensive Income (Loss)	Components of Other Comprehensive Income (Loss) The following table provides the changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ended December 31, 2020, 2019, and 2018: (Dollars in millions) Securities AFS Cash Flow Pension and Total Balance as of December 31, 2017 $ (22) $ (6) $ (237) $ (265) Adjustment to reflect adoption of ASU 2018-02 (5) (2) (51) (58) Balance as of December 31, 2017, as adjusted (27) (8) (288) (323) Net unrealized gains (losses) (49) (6) (9) (64) Amounts reclassified from AOCI — 2 9 11 Other comprehensive income (loss) (49) (4) — (53) Balance as of December 31, 2018 (76) (12) (288) (376) Net unrealized gains (losses) 107 11 8 126 Amounts reclassified from AOCI — 4 7 11 Other comprehensive income (loss) 107 15 15 137 Balance as of December 31, 2019 31 3 (273) (239) Net unrealized gains (losses) 74 15 3 92 Amounts reclassified from AOCI 3 (6) 10 7 Other comprehensive income (loss) 77 9 13 99 Balance as of December 31, 2020 $ 108 $ 12 $ (260) $ (140) Reclassifications from AOCI, and related tax effects, were as follows: (Dollars in millions) Details about AOCI 2020 2019 2018 Affected line item in the statement where net income is presented Securities AFS: Realized (gains) losses on securities AFS $ 4 $ — $ — Securities gains (losses), net Tax expense (benefit) (1) — — Income tax expense 3 — — Cash flow hedges: Realized (gains) losses on cash flow hedges (8) 5 3 Interest and fees on loans and leases Tax expense (benefit) 2 (1) (1) Income tax expense (6) 4 2 Pension and Postretirement Plans: Amortization of prior service cost and net actuarial (gain) loss 13 10 12 All other expense Tax expense (benefit) (3) (3) (3) Income tax expense 10 7 9 Total reclassification from AOCI $ 7 $ 11 $ 11

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The aggregate amount of income taxes included in the Consolidated Statements of Income and the Consolidated Statements of Changes in Equity for the years ended December 31, were as follows: (Dollars in millions) 2020 2019 2018 Consolidated Statements of Income: Income tax expense $ 76 $ 134 $ 157 Consolidated Statements of Changes in Equity: Income tax expense (benefit) related to: Net unrealized gains on pension and other postretirement plans 3 5 — Net unrealized gains (losses) on securities available for sale 25 35 (16) Net unrealized gains (losses) on cash flow hedges 3 5 (1) Total $ 107 $ 179 $ 140 The components of income tax expense (benefit) for the years ended December 31, were as follows: (Dollars in millions) 2020 2019 2018 Current: Federal $ 80 $ 106 $ 43 State 14 14 10 Deferred: Federal (15) 5 82 State (3) 9 22 Total $ 76 $ 134 $ 157 The TCJA was signed into law at the end of 2017 and companies were provided up to a year to complete their assessment of its effects. In 2018, FHN recorded a tax benefit of $7 million related to the finalization of tax items for the 2017 tax return. A reconciliation of expected income tax expense (benefit) at the federal statutory rate of 21% for 2020, 2019, and 2018, respectively to the total income tax expense follows: (Dollars in millions) 2020 2019 2018 Federal income tax rate 21% 21% 21% Tax computed at statutory rate $ 196 $ 123 $ 151 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 9 15 25 Bank-owned life insurance (6) (5) (4) 401(k) – employee stock ownership plan (1) (1) (1) Tax-exempt interest (8) (6) (7) Non-deductible expenses 13 11 8 LIHTC credits and benefits, net of amortization (9) (4) (7) Other tax credits (5) — (3) Other changes in unrecognized tax benefits (9) 4 6 Purchase accounting gain (112) — — Effect of TCJA — — (7) Other 8 (3) (4) Total $ 76 $ 134 $ 157 As of December 31, 2020, FHN had net deferred tax asset balances related to federal and state income tax carryforwards of $47 million and $9 million, respectively, which will expire at various dates as follows: (Dollars in millions) Expiration Dates Net Deferred Tax Losses - federal 2026 - 2035 $ 44 Net operating losses - states 2026 - 2040 9 Credits - federal 2040 3 A DTA or DTL is recognized for the tax consequences of temporary differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax consequence is calculated by applying enacted statutory tax rates, applicable to future years, to these temporary differences. In order to support the recognition of the DTA, FHN’s management must believe that the realization of the DTA is more likely than not. FHN evaluates the likelihood of realization of the DTA based on both positive and negative evidence available at the time, including (as appropriate) scheduled reversals of DTLs, projected future taxable income, tax planning strategies, and recent financial performance. Realization is dependent on generating sufficient taxable income prior to the expiration of the carryforwards attributable to the DTA. In projecting future taxable income, FHN incorporates assumptions including the estimated amount of future state and federal pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates used to manage the underlying business. As of December 31, 2020, FHN's net DTA was less than $1 million compared to $69 million at December 31, 2019. At December 31, 2020, FHN's gross DTA (net of a valuation allowance) and gross DTL were $471 million and $471 million, respectively. Although realization is not assured, FHN believes that it meets the more-likely-than-not requirement with respect to the net DTA after valuation allowance. Temporary differences which gave rise to deferred tax assets and deferred tax liabilities on December 31, 2020 and 2019 were as follows: (Dollars in millions) 2020 2019 Deferred tax assets: Loss reserves $ 205 $ 58 Employee benefits 86 68 Accrued expenses 7 4 Lease liability 100 56 Federal loss carryforwards 44 44 State loss carryforwards 9 1 Other 20 19 Gross deferred tax assets 471 250 Deferred tax liabilities: Depreciation and amortization $ 83 $ 51 Investment in debt securities (ASC 320) (a) 35 10 Equity investments 11 4 Other intangible assets 93 56 Prepaid expenses 15 10 ROU lease asset 89 50 Leasing 135 — Other 10 — Gross deferred tax liabilities 471 181 Net deferred tax assets $ — $ 69 (a) Tax effects of unrealized gains and losses are tracked on a security-by-security basis. The total unrecognized tax benefits at December 31, 2020 and 2019, was $70 million and $24 million, respectively. To the extent such unrecognized tax benefits as of December 31, 2020 are subsequently recognized, $29 million of tax benefits could impact tax expense and FHN’s effective tax rate in future periods. FHN is currently in audit in several jurisdictions. It is reasonably possible that the unrecognized tax benefits related to federal and state exposures could decrease by $44 million and $7 million, respectively, during 2021 if audits are completed and settled and if the applicable statutes of limitations expire as scheduled. FHN recognizes interest accrued and penalties related to unrecognized tax benefits within income tax expense. FHN had approximately $11 million and $3 million accrued for the payment of interest as of December 31, 2020 and 2019, respectively. The total amount of interest and penalties recognized in the Consolidated Statements of Income during 2020 and 2019 was an expense of $8 million and $1 million, respectively. The rollforward of unrecognized tax benefits is shown below: (Dollars in millions) Balance at December 31, 2018 $ 20 Increases related to prior year tax positions 3 Increases related to current year tax positions 2 Lapse of statutes (1) Balance at December 31, 2019 $ 24 Increases related to prior year tax positions 56 Increases related to current year tax positions 1 Settlements (10) Lapse of statutes (1) Balance at December 31, 2020 $ 70

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding: (Dollars in millions, except per share data, shares in thousands) 2020 2019 2018 Net income $ 857 $ 452 $ 557 Net income attributable to noncontrolling interest 12 11 12 Net income attributable to controlling interest 845 441 545 Preferred stock dividends 23 6 6 Net income available to common shareholders $ 822 $ 435 $ 539 Weighted average common shares outstanding—basic 432,125 313,637 324,375 Effect of dilutive securities 1,829 2,020 3,070 Weighted average common shares outstanding—diluted 433,954 315,657 327,445 Basic earnings per common share $ 1.90 $ 1.39 $ 1.66 Diluted earnings per common share $ 1.89 $ 1.38 $ 1.65 The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met: (Shares in thousands) 2020 2019 2018 Stock options excluded from the calculation of diluted EPS 4,595 2,359 2,256 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 17.47 $ 21.12 $ 24.33 Other equity awards excluded from the calculation of diluted EPS 3,639 2,224 608

Contingencies and Other Disclos

Contingencies and Other Disclosures	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Other Disclosures	Contingencies and Other Disclosures CONTINGENCIES Contingent Liabilities Overview Contingent liabilities arise in the ordinary course of business. Often they are related to lawsuits, arbitration, mediation, and other forms of litigation. Various litigation matters are threatened or pending against FHN and its subsidiaries. Also, FHN at times receives requests for information, subpoenas, or other inquiries from federal, state, and local regulators, from other government authorities, and from other parties concerning various matters relating to FHN’s current or former businesses. Certain matters of that sort are pending at most times, and FHN generally cooperates when those matters arise. Pending and threatened litigation matters sometimes are settled by the parties, and sometimes pending matters are resolved in court or before an arbitrator, or are withdrawn. Regardless of the manner of resolution, frequently the most significant changes in status of a matter occur over a short time period, often following a lengthy period of little substantive activity. In view of the inherent difficulty of predicting the outcome of these matters, particularly where the claimants seek very large or indeterminate damages, or where the cases present novel legal theories or involve a large number of parties, or where claims or other actions may be possible but have not been brought, FHN cannot reasonably determine what the eventual outcome of the matters will be, what the timing of the ultimate resolution of these matters may be, or what the eventual loss or impact related to each matter may be. FHN establishes a loss contingency liability for a litigation matter when loss is both probable and reasonably estimable as prescribed by applicable financial accounting guidance. If loss for a matter is probable and a range of possible loss outcomes is the best estimate available, accounting guidance requires a liability to be established at the low end of the range. Based on current knowledge, and after consultation with counsel, management is of the opinion that loss contingencies related to threatened or pending litigation matters should not have a material adverse effect on the consolidated financial condition of FHN, but may be material to FHN’s operating results for any particular reporting period depending, in part, on the results from that period. Material Loss Contingency Matters Summary As used in this Note, except for matters that are reported as having been substantially settled or otherwise substantially resolved, FHN's “material loss contingency matters” generally fall into at least one of the following categories: (i) FHN has determined material loss to be probable and has established a material loss liability in accordance with applicable financial accounting guidance; (ii) FHN has determined material loss to be probable but is not reasonably able to estimate an amount or range of material loss liability; or (iii) FHN has determined that material loss is not probable but is reasonably possible, and the amount or range of that reasonably possible material loss is estimable. As defined in applicable accounting guidance, loss is reasonably possible if there is more than a remote chance of a material loss outcome for FHN. FHN provides contingencies note disclosures for certain pending or threatened litigation matters each quarter, including all matters mentioned in categories (i) or (ii) and, occasionally, certain matters mentioned in category (iii). In addition, in this Note, certain other matters, or groups of matters, are discussed relating to FHN’s pre-2009 mortgage origination and servicing businesses. In all litigation matters discussed in this Note, unless settled or otherwise resolved, FHN believes it has meritorious defenses and intends to pursue those defenses vigorously. FHN reassesses the liability for litigation matters each quarter as the matters progress. At December 31, 2020, the aggregate amount of liabilities established for all such loss contingency matters was $1 million. These liabilities are separate from those discussed under the heading Mortgage Loan Repurchase and Foreclosure Liability below. In each material loss contingency matter, except as otherwise noted, there is more than a remote chance that any of the following outcomes will occur: the plaintiff will substantially prevail; the defense will substantially prevail; the plaintiff will prevail in part; or the matter will be settled by the parties. At December 31, 2020, FHN estimates that for all material loss contingency matters, estimable reasonably possible losses in future periods in excess of currently established liabilities could aggregate in a range from zero to less than $1 million. As a result of the general uncertainties discussed above and the specific uncertainties discussed for each matter mentioned below, it is possible that the ultimate future loss experienced by FHN for any particular matter may materially exceed the amount, if any, of currently established liability for that matter. Material Matters A former shareholder of CBF has filed a putative class action suit, Searles v. DeMartini et al, No. 2020-0136 (Del. Chancery), against certain former directors, officers, and shareholders of CBF, alleging, among other things, that defendants breached certain fiduciary duties in connection with CBF's merger with FHN in 2017. Plaintiff claims unspecified damages related to the merger consideration and opportunity loss. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regarding: whether a class will be certified and, if so, the composition of the class; the amount of potential damages that might be awarded, if any; of any such damages amount, the amount that FHN would be obliged to indemnify; the availability of applicable insurance; and the outcome of discovery. Exposures from pre-2009 Mortgage Business FHN is contending with indemnification claims related to "other whole loans sold," which were mortgage loans originated by FHN before 2009 and sold outside of an FHN securitization. These claims generally assert that FHN-originated loans contributed to losses in connection with mortgage loans securitized by the buyer of the loans. The claims generally do not include specific deficiencies for specific loans sold by FHN. Instead, the claims generally assert that FHN is liable for a share of the claimant's loss estimated by assessing the totality of the other whole loans sold by FHN to claimant in relation to the totality of the larger number of loans securitized by claimant. FHN is unable to estimate an RPL range for these matters due to significant uncertainties regarding: the number of, and the facts underlying, the loan originations which claimants assert are indemnifiable; the applicability of FHN’s contractual indemnity covenants to those facts and originations; and, in those cases where an indemnity claim may be supported, whether any legal defenses, counterclaims, other counter-positions, or third-party claims might eliminate or reduce claims against FHN or their impact on FHN. FHN also has indemnification claims related to servicing obligations. The most significant is from Nationstar Mortgage LLC, currently doing business as “Mr. Cooper.” Nationstar was the purchaser of FHN’s mortgage servicing obligations and assets in 2013 and 2014 and, was FHN’s subservicer. Nationstar asserts several categories of indemnity obligations in connection with mortgage loans under the subservicing arrangement and under the purchase transaction. This matter currently is not in litigation, but litigation in the future is possible. FHN is unable to estimate an RPL range for this matter due to significant uncertainties regarding: the exact nature of each of Nationstar’s claims and its position in respect of each; the number of, and the facts underlying, the claimed instances of indemnifiable events; the applicability of FHN’s contractual indemnity covenants to those facts and events; and, in those cases where the facts and events might support an indemnity claim, whether any legal defenses, counterclaims, other counter-positions, or third-party claims might eliminate or reduce claims against FHN or their impact on FHN. FHN has additional potential exposures related to its pre-2009 mortgage businesses. A few of those matters have become litigation which FHN currently estimates are immaterial, some are non-litigation claims or threats, some are mere subpoenas or other requests for information, and in some areas FHN has no indication of any active or threatened dispute. Some of those matters might eventually result in settlements, and some might eventually result in adverse litigation outcomes, but none are included in the material loss contingency liabilities mentioned above or in the RPL range mentioned above. Mortgage Loan Repurchase and Foreclosure Liability FHN’s repurchase and foreclosure liability, primarily related to its pre-2009 mortgage businesses, is comprised of accruals to cover estimated loss content in the active pipeline (consisting of mortgage loan repurchase, make-whole, foreclosure/servicing demands and certain related exposures), estimated future inflows, and estimated loss content related to certain known claims not currently included in the active pipeline. FHN compares the estimated probable incurred losses determined under the applicable loss estimation approaches for the respective periods with current reserve levels. Changes in the estimated required liability levels are recorded as necessary through the repurchase and foreclosure provision. Based on currently available information and experience to date, FHN has evaluated its loan repurchase, make-whole, foreclosure, and certain related exposures and has accrued for losses of $16 million and $15 million as of December 31, 2020 and December 31, 2019, respectively. Accrued liabilities for FHN’s estimate of these obligations are reflected in Other liabilities on the Consolidated Balance Sheets. Charges/expense reversals to increase/decrease the liability are included within Other income on the Consolidated Statements of Income. The estimates are based upon currently available information and fact patterns that exist as of each balance sheet date and could be subject to future changes. Changes to any one of these factors could significantly impact the estimate of FHN’s liability. OTHER DISCLOSURES Indemnification Agreements and Guarantees In the ordinary course of business, FHN enters into indemnification agreements for legal proceedings against its directors and officers and standard representations and warranties for underwriting agreements, merger and acquisition agreements, loan sales, contractual commitments, and various other business transactions or arrangements. The extent of FHN’s obligations under these agreements depends upon the occurrence of future events; therefore, it is not possible to estimate a maximum potential amount of payouts that could be required by such agreements.

Pension, Savings, and Other Emp

Pension, Savings, and Other Employee Benefits	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Pension, Savings, and Other Employee Benefits	Pension, Savings, and Other Employee Benefits Pension plan. FHN sponsors a noncontributory, qualified defined benefit pension plan to employees hired or re-hired on or before September 1, 2007. Pension benefits are based on years of service, average compensation near retirement or other termination, and estimated social security benefits at age 65. Benefits under the plan are “frozen” so that years of service and compensation changes after 2012 do not affect the benefit owed. Minimum contributions are based upon actuarially determined amounts necessary to fund the total benefit obligation. Decisions to contribute to the plan are based upon pension funding requirements under the Pension Protection Act, the maximum amount deductible under the Internal Revenue Code, the actual performance of plan assets, and trends in the regulatory environment. FHN made no contributions to the qualified pension plan in 2020 and 2019, and made an insignificant contribution to the qualified pension plan in 2018. Management does not currently anticipate that FHN will make a contribution to the qualified pension plan in 2021. FHN also maintains non-qualified plans including a supplemental retirement plan that covers certain employees whose benefits under the qualified pension plan have been limited by tax rules. These other non-qualified plans are unfunded, and contributions to these plans cover all benefits paid under the non-qualified plans. Payments made under the non-qualified plans were $5 million for 2020. FHN anticipates making benefit payments under the non-qualified plans of $5 million in 2021. Savings plan. FHN provides all qualifying full-time employees with the opportunity to participate in FHN's tax qualifi ed 401(k) savings plan. The qualified plan allows employees to defer receipt of earned salary, up to tax law limits, on a tax- advantaged basis. Accounts, which are held in trust, may be invested in a wide range of mutual funds and in FHN common stock. Up to tax law limits, FHN provides a 100 percent match for the first 6 percent of salary deferred, with company matching contributions invested according to a participant’s current investment election. Through a non-qualified savings restoration plan, FHN provides a restorative benefit to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. FHN also provides “flexible dollars” to assist employees with the cost of annual benefits and/or allow the employee to contribute to his or her qualified savings plan account. These “flexible dollars” are pre-tax contributions and are based upon the employees’ years of service and qualified compensation. Contributions made by FHN through the flexible benefits plan and the company matches were $37 million for 2020, $28 million for 2019, and $29 million for 2018. Other employee benefits. FHN provides postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees. The postretirement medical plan is contributory with FHN contributing a fixed amount for certain participants. FHN’s postretirement benefits include certain prescription drug benefits. Actuarial assumptions. FHN’s process for developing the long-term expected rate of return of pension plan assets is based on capital market exposure as the source of investment portfolio returns. Capital market exposure refers to the plan’s allocation of its assets to asset classes, which primarily represent fixed income investments. FHN also considers expectations for inflation, real interest rates, and various risk premiums based primarily on the historical risk premium for each asset class. The expected return is based upon a time horizon of thirty years. Given its funded status, the asset allocation strategy for the qualified pension plan utilizes fixed income instruments that closely match the estimated duration of payment obligations. Consequently, FHN selected a 3.45% assumption for 2020 for the qualified defined benefit pension plan and a 0.90% assumption for postretirement medical plan assets dedicated to employees who retired prior to January 1, 1993. FHN selected a 6.40% assumption for 2020 for postretirement medical plan assets dedicated to employees who retired after January 1, 1993. The discount rates for the three years ended 2020 for pension and other benefits were determined by using a hypothetical AA yield curve represented by a series of annualized individual discount rates from one-half to thirty years. The discount rates are selected based upon data specific to FHN’s plans and employee population. The bonds used to create the hypothetical yield curve were subjected to several requirements to ensure that the resulting rates were representative of the bonds that would be selected by management to fulfill the company’s funding obligations. In addition to the AA rating, only non-callable bonds were included. Each bond issue was required to have at least $300 million par outstanding so that each issue was sufficiently marketable. Finally, bonds more than two standard deviations from the average yield were removed. When selecting the discount rate, FHN matches the duration of high quality bonds with the duration of the obligations of the plan as of the measurement date. For all years presented, the measurement date of the benefit obligations and net periodic benefit costs was December 31. The actuarial assumptions used in the defined benefit pension plans and other employee benefit plans were as follows: Benefit Obligations Net Periodic Benefit Cost 2020 2019 2018 2020 2019 2018 Discount rate Qualified pension 2.63% 3.31% 4.43% 3.31% 4.43% 3.75% Nonqualified pension 2.24% 3.08% 4.26% 3.08% 4.26% 3.59% Other nonqualified pension 1.41% 2.57% 3.83% 2.57% 3.83% 3.19% Postretirement benefits 1.92%-2.81% 2.85% - 3.44% 4.03% - 4.56% 2.87%-3.44% 4.04% - 4.56% 3.35% - 3.87% Expected long-term rate of return Qualified pension/ N/A N/A N/A 3.45% 4.80% 4.20% Postretirement benefit (retirees post January 1, 1993) N/A N/A N/A 6.40% 6.85% 5.95% Postretirement benefit (retirees prior to January 1, 1993) N/A N/A N/A 0.90% 0.05% 2.15% Since the benefits in the defined benefit pension plan are frozen, the rate of compensation increase has no effect on qualified pension benefits. FHN has one pension plan where participants' benefits are affected by interest crediting rates. The plan's projected benefit obligation as of December 31, 2020, 2019 and 2018 and interest crediting rates for the respective years are: (Dollars in millions) 2020 2019 2018 Projected benefit obligation $ 15 $ 16 $ 17 Interest crediting rate 8.2 % 9.66 % 10.12 % The components of net periodic benefit cost for the plan years 2020, 2019 and 2018 were as follows: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost Interest cost $ 24 $ 30 $ 28 $ 1 $ 1 $ 1 Expected return on plan assets (26) (37) (33) (1) (1) (1) Amortization of unrecognized: Actuarial (gain) loss 13 10 12 — — — Net periodic benefit cost $ 11 $ 3 $ 7 $ — $ — $ — The long-term expected rate of return is applied to the market-related value of plan assets in determining the expected return on plan assets. FHN determines the market-related value of plan assets using a calculated value that recognizes changes in the fair value of plan assets over five years, as permitted by GAAP. FHN utilizes a spot rate approach which applies duration-specific rates from the full yield curve to estimated future benefit payments for the determination of interest cost. The following tables set forth the plans’ benefit obligations and plan assets for 2020 and 2019: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2020 2019 Change in benefit obligation Benefit obligation, beginning of year $ 836 $ 765 $ 42 $ 35 Interest cost 24 30 1 1 Plan amendments — — — 1 Actuarial (gain) loss (a) 70 103 4 7 Actual benefits paid (37) (38) (1) (2) Premium paid for annuity purchase (b) — (24) — — Benefit obligation, end of year $ 893 $ 836 $ 46 $ 42 Change in plan assets Fair value of plan assets, beginning of year $ 826 $ 731 $ 20 $ 18 Actual return on plan assets 103 154 3 3 Employer contributions 4 3 1 1 Actual benefits paid – settlement payments (36) — (1) (2) Actual benefits paid – other payments (1) (38) — — Premium paid for annuity purchase (b) — (24) — — Fair value of plan assets, end of year $ 896 $ 826 $ 23 $ 20 Funded (unfunded) status of the plans $ 3 $ (10) $ (23) $ (22) Amounts recognized in the Balance Sheets Other assets $ 40 $ 27 $ 20 $ 18 Other liabilities (37) (37) (43) (40) Net asset (liability) at end of year $ 3 $ (10) $ (23) $ (22) (a) Variances in the actuarial (gain) loss are due to normal activity such as changes in discount rates, updates to participant demographic information and revisions to life expectancy assumptions. (b) 2019 amounts represent settlements of certain retired participants in the qualified pension plan that occurred during the year. The projected benefit obligation for unfunded plans was as follows: Pension Benefits Other Benefits (Dollars in millions) 2020 2019 2020 2019 Projected benefit obligation $ 37 $ 37 $ 43 $ 39 The qualified pension plan was overfunded as of December 31, 2020 by $41 million. Because of the pension freeze as of the end of 2012, the pension benefit obligation and the accumulated benefit obligation are the same as of December 31, 2020 and 2019. The qualified pension plan was overfunded as of December 31, 2019 by $27 million. FHN's funded post retirement plan was also in an overfunded status as of December 31, 2020 and 2019. Unrecognized actuarial gains and losses and unrecognized prior service costs and credits are recognized as a component of accumulated other comprehensive income. Balances reflected in accumulated other comprehensive income on a pre-tax basis for the years ended December 31, 2020 and 2019 consist of: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2020 2019 Amounts recognized in accumulated other comprehensive income Net actuarial (gain) loss $ 342 $ 363 $ 1 $ (2) The pre-tax amounts recognized in other comprehensive income during 2020 and 2019 were as follows: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2020 2019 Changes in plan assets and benefit obligation recognized in other comprehensive income Net actuarial (gain) loss arising during measurement period $ (8) $ (14) $ 3 $ 5 Items amortized during the measurement period: Net actuarial gain (loss) (13) (10) — — Total recognized in other comprehensive income $ (21) $ (24) $ 3 $ 5 FHN utilizes the minimum amortization method in determining the amount of actuarial gains or losses to include in plan expense. Under this approach, the net deferred actuarial gain or loss that exceeds a threshold is amortized over the average remaining service period of active plan participants. The threshold is measured as the greater of: 10 percent of a plan’s projected benefit obligation as of the beginning of the year or 10 percent of the market related value of plan assets as of the beginning of the year. FHN amortizes actuarial gains and losses using the estimated average remaining life expectancy of the remaining participants since all participants are considered inactive due to the freeze. The following table provides detail on expected benefit payments, which reflect expected future service, as appropriate: (Dollars in millions) Pension Other 2021 $ 41 $ 2 2022 41 2 2023 43 2 2024 44 2 2025 45 2 2026-2030 231 12 Plan assets. FHN’s overall investment goal is to create, over the life of the pension plan and retiree medical plan, an adequate pool of sufficiently liquid assets to support the qualified pension benefit obligations to participants, retirees, and beneficiaries, as well as to partially support the medical obligations to retirees and beneficiaries. Thus, the qualified pension plan and retiree medical plan seek to achieve a level of investment return consistent with changes in projected benefit obligations. Qualified pension plan assets primarily consist of fixed income securities which include U.S. treasuries, corporate bonds of companies from diversified industries, municipal bonds, and foreign bonds. Fixed income investments generally have long durations consistent with the estimated pension liabilities of FHN. This duration-matching strategy is intended to hedge substantially all of the plan’s risk associated with future benefit payments. Retiree medical funds are kept in short-term investments, primarily money market funds and mutual funds. On December 31, 2020 and 2019, FHN did not have any significant concentrations of risk within the plan assets related to the pension plan or the retiree medical plan. The fair value of FHN’s pension plan assets at December 31, 2020 and 2019, by asset category classified using the Fair Value measurement hierarchy is shown in the table below. See Note 24 – Fair Value of Assets and Liabilities for more details about fair value measurements. (Dollars in millions) December 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents and money market funds $ 23 $ — $ — $ 23 Fixed income securities: U.S. treasuries — 6 — 6 Corporate, municipal and foreign bonds — 488 — 488 Common and collective funds: Fixed income — 379 — 379 Total $ 23 $ 873 $ — $ 896 (Dollars in millions) December 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents and money market funds $ 9 $ — $ — $ 9 Fixed income securities: U.S. treasuries — 5 — 5 Corporate, municipal and foreign bonds — 515 — 515 Common and collective funds: Fixed income — 297 — 297 Total $ 9 $ 817 $ — $ 826 The Pension and Savings Investment Committees, comprised of senior managers within the organization, meet regularly to review asset performance and potential portfolio revisions. Adjustments to the qualified pension plan asset allocation primarily reflect changes in anticipated liquidity needs for plan benefits. The fair value of FHN’s retiree medical plan assets at December 31, 2020 and 2019 by asset category are as follows: (Dollars in millions) December 31, 2020 Level 1 Level 2 Level 3 Total Mutual funds: Equity mutual funds $ 15 $ — $ — $ 15 Fixed income mutual funds 8 — — 8 Total $ 23 $ — $ — $ 23 (Dollars in millions) December 31, 2019 Level 1 Level 2 Level 3 Total Mutual funds: Equity mutual funds $ 13 $ — $ — $ 13 Fixed income mutual funds 7 — — 7 Total $ 20 $ — $ — $ 20

Stock Options, Restricted Stock

Stock Options, Restricted Stock, and Dividend Reinvestment Plans	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Options, Restricted Stock, and Dividend Reinvestment Plans	Stock Options, Restricted Stock, and Dividend Reinvestment Plans Equity compensation plans FHN currently has two plans which authorize the grant of new stock-based awards, the Equity Compensation Plan (ECP) and the IBERIABANK Corporation 2019 Stock Incentive Plan (SIP). New awards under the ECP may be granted to any of FHN's directors, officers, or associates. New awards under the SIP are limited to directors, officers, and associates who had one or more of those roles with IBKC before the merger closed. Most awards outstanding at year end were granted under these plans, though older stock options and certain deferred stock units remain outstanding under several plans which are no longer active. The ECP authorizes a broad range of award types, including restricted shares, stock units, and stock options. Stock units may be paid in shares or cash, depending upon the terms of the award. The ECP also authorizes the grant of stock appreciation rights, though no such grants have been made. The SIP authorizes the granting of awards in the form of stock options, restricted stock, and restricted share units. Unvested awards have service and/or performance conditions which must be met in order for the shares to vest. Awards generally have service-vesting conditions, meaning that the associate must remain employed by FHN for certain periods in order for the award to vest. Some outstanding awards also have performance conditions, and one outstanding award has performance conditions associated with FHN’s stock price. FHN operates the ECP by establishing award programs, each of which is intended to cover a specific need. Programs are created, changed, or terminated as needs change. On December 31, 2020, there were 3,115,117 shares available for new awards under the ECP and 10,558,375 shares available for new awards under the SIP. The ECP imposes a separate limit on full-value (non-option) awards which is included within the overall limit. At December 31, 2020, there were 2,311,791 shares available to be granted as full-value awards under the ECP and 5,279,187 shares available to be granted as full-value awards under the SIP. Service condition full-value awards. Awards may be granted with service conditions only. In recent years, programs using these awards have included annual programs for executives and selected management associates, a mandatory deferral program for executives tied to annual bonuses earned, other mandatory or elective deferral programs, various retention programs, and special hiring-incentive situations. Details of the awards vary by program, but most are settled in shares at vesting rather than cash, and vesting rarely begins earlier than the first anniversary of grant and rarely extends beyond the fifth anniversary of grant. Annual programs tend to use multiple annual vesting dates while retention programs tend to use a single vesting date, but there are exceptions. Performance condition awards. Under FHN’s long-term incentive and corporate performance programs, performance stock units (PSUs) (executives) and cash units (selected management employees) are granted annually and vest only if predetermined performance measures are met. The measures are changed each year based on goals and circumstances prevailing at the time of grant. In recent years the performance periods have been three years, with service-vesting near the third anniversary of the grant. PSUs granted after 2014 also have a post-vest holding period of two years. Recent annual performance awards require pro-rated forfeiture for performance falling between a threshold level and a maximum. Performance awards sometimes are used to provide a narrow, targeted incentive to a single person or small group; one such award which includes a market performance condition to FHN’s CEO is discussed in the next paragraph. Of the annual program awards paid during 2020 or outstanding on December 31, 2020: the 2015 units vested in 2018 and their two year post-vesting holding period ended during 2020, 2016 and 2017 units vested in 2019 and 2020 at the 104.2% payout level, respectively, and remain in a two year post-vesting holding period; the three years performance period of the 2018 units has ended but performance is measured relative to peers and has not yet been determined; and, the three years performance periods for the 2019 and 2020 units have not ended. Market condition award. In 2016, FHN made a special grant of performance stock units to FHN’s CEO which will vest at the end of a performance period of seven years. The award has no provision for pro-rated payment based on partial performance. The award’s performance goal is based on achievement of a specific level of total shareholder return during the performance period. Director awards. Non-employee directors receive cash and annual grants of service-conditioned stock units under a program approved by the board of directors. Director stock units granted prior to the IBKC merger vest in the year following the year of grant, require a payment deferral of two years, and settle in shares after the deferral period. In 2020 and 2019, each director received $85,000 or prorated equivalent of stock units, representing a portion of their annual retainer. Effective with the IBKC merger on July 1, 2020, the annual grant of director stock units was increased to $122,000 or prorated equivalent of stock units and all directors then in office received a supplemental grant to bring all directors up to the new annual grant level. Prior to 2005, directors could elect to defer cash compensation in the form of discount-priced stock options, some of which remain outstanding. Stock and stock unit awards. A summary of restricted and performance stock and unit activity during the year ended December 31, 2020, is presented below: Shares/ Weighted average grant date fair value (per share) (b) January 1, 2020 4,709,987 $ 16.25 Shares/units converted from IBKC 2,663,116 9.40 Shares/units granted 2,610,929 9.89 Shares/units vested/distributed (1,551,877) 15.15 Shares/units canceled (161,939) 12.55 December 31, 2020 8,270,216 $ 12.47 (a) Includes only units that settle in shares; nonvested performance units are included at 100% payout level. (b) The weighted average grant date fair value for shares/units granted in 2019 and 2018 was $16.25 and $18.70, respectively. On December 31, 2020, there was $38 million of unrecognized compensation cost related to nonvested restricted stock awards. That cost is expected to be recognized over a weighted-average period of 2.5 years. The total grant date fair value of shares vested during 2020, 2019 and 2018, was $24 million, $15 million, and $13 million, respectively. Stock option awards. Currently FHN operates only a single option program, calling for annual grants of service-vested options to executives. In the past, however, option programs varied widely in their uses and terms, and many old-program options, granted under the ECP or its predecessor plans, remain outstanding today. All options granted since 2005 provide for the issuance of FHN common stock at a price fixed at its fair market value on the grant date. Except for converted options and a special retention stock option award to the CEO in 2016, all options granted since 2008 vest fully no later than the fourth anniversary of grant, and all such options expire 7 years from the grant date. CBF converted options and IBKC converted options granted prior to November 3, 2019 (the merger agreement date) are fully vested and expire ten ten The summary of stock option activity for the year ended December 31, 2020, is shown below: Options Weighted Average Exercise Price (per share) Weighted Aggregate Intrinsic Value (millions) January 1, 2020 4,931,781 $ 15.61 Converted IBKC 3,597,856 14.39 Options granted 584,881 15.90 Options exercised (597,686) 11.55 Options expired/canceled (767,750) 17.44 December 31, 2020 7,749,082 $ 15.20 3.85 $ 5 Options exercisable 5,766,528 15.02 3.16 4 Options expected to vest 1,982,554 15.70 5.86 — The total intrinsic value of options exercised during 2020, 2019 and 2018 was $3 million, $4 million, and $3 million, respectively. On December 31, 2020, there was $1 million of unrecognized compensation cost related to nonvested stock options. That cost is expected to be recognized over a weighted-average period of 2.6 years. FHN granted or converted 4,182,737, 530,787 and 394,296 stock options with a weighted average fair value of $2.13, $2.69, and $3.89 per option at grant date in 2020, 2019 and 2018, respectively. FHN used the Black-Scholes Option Pricing Model to estimate the fair value of stock options granted or converted in 2020, 2019, and 2018 with the following assumptions: 2020 2019 2018 Expected dividend yield 3.77% 3.63% 2.57% Expected weighted-average lives of options granted 6.25 years 6.24 years 6.21 years Expected weighted-average volatility 23.94% 24.76% 24.61% Expected volatility range 23.32 - 24.56% 23.07 - 26.45% 23.95 - 25.26% Risk-free interest rate 1.47% 2.53% 2.69% Expected lives of options granted are determined based on the vesting period, historical exercise patterns and contractual term of the options. FHN uses a blend of historical and implied volatility in determining expected volatility. A portion of the weighted average volatility rate is derived by compiling daily closing stock prices over a historical period approximating the expected lives of the options. Additionally, because of market volatility due to economic conditions and the impact on stock prices of financial institutions, FHN also incorporates a measure of implied volatility so as to incorporate more recent market conditions in the estimation of future volatility. Phantom stock awards. As a result of the IBKC merger, FHN assumed phantom stock awards under various plans to officers and other key associates. The awards are subject to a vesting period of five amount paid per vesting period is calculated as the number of vested share equivalents multiplied by closing market price of a share of the Company's common stock on the vesting date. Share equivalents are calculated on the date of grant as the total award's dollar value divided by the closing market price of a share of the Company's common stock on the grant date. As of December 31, 2020, there were 659,597 share equivalents of phantom stock awards outstanding. See Note 1 - Significant Accounting Policies for more discussion on FHN's phantom stock awards. Compensation Cost. The compensation cost that has been included in the Consolidated Statements of Income pertaining to stock-based awards was $32 million, $22 million, and $23 million for 2020, 2019, and 2018, respectively. The corresponding total income tax benefits recognized were $8 million in 2020, $6 million in 2019, and $6 million in 2018. Authorization. Consistent with Tennessee state law, only authorized, but unissued, stock may be utilized in connection with any issuance of FHN common stock which may be required as a result of stock based compensation awards. FHN has obtained authorization from the Board of Directors to repurchase up to certain numbers of shares related to issuance under the ECP and several older stock award plans. These authorizations are automatically adjusted for stock splits and stock dividends. Repurchases are authorized to be made in the open market or through privately negotiated transactions and will be subject to market conditions, accumulation of excess equity, legal and regulatory restrictions, and prudent capital management. FHN does not currently expect to repurchase a material number of shares under the compensation plan-related repurchase program during 2021.

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting, Measurement Disclosures [Abstract]
Business Segment Information	Business Segment Information During the fourth quarter of 2020, FHN reorganized its internal management structure and, accordingly, its segment reporting structure. Historically, FHN's reportable business segments were Regional Banking, Fixed Income, Corporate, and Non-strategic. On July 1, 2020, FHN and IBKC closed their merger of equals transaction. This transaction prompted organizational changes to better integrate and execute the combined Company's strategic priorities across all lines of businesses. As a result, FHN revised its reportable segments as described below. Prior period segment information has been reclassified to conform to the current period presentation. FHN is composed of the following operating segments: • 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, international banking and SBA lending. 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 segment for the years ended December 31: (Dollars in millions) 2020 2019 2018 Consolidated Net interest income $ 1,662 $ 1,210 $ 1,220 Provision for credit losses (a) 503 45 8 Noninterest income 1,492 654 723 Noninterest expense 1,718 1,233 1,221 Income before income taxes 933 586 714 Income tax expense 76 134 157 Net income $ 857 $ 452 $ 557 Average assets $ 64,346 $ 41,744 $ 40,225 Depreciation and amortization 46 65 59 Expenditures for long-lived assets 379 49 38 (a) Increase in provision for credit losses in 2020 is primarily due to 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. (Dollars in millions) 2020 2019 2018 Regional Banking Net interest income $ 1,307 $ 773 $ 815 Provision for credit losses 392 24 4 Noninterest income 343 289 264 Noninterest expense 900 626 707 Income before income taxes 358 412 368 Income tax expense 77 94 82 Net income $ 281 $ 318 $ 286 Average assets $ 31,802 $ 18,252 $ 17,263 Depreciation and amortization (46) 22 18 Expenditures for long-lived assets 283 29 36 Specialty Banking Net interest income $ 583 $ 444 $ 417 Provision for loan losses 117 37 15 Noninterest income 576 318 210 Noninterest expense 491 351 302 Income before income taxes 551 374 310 Income tax expense 134 93 76 Net income $ 417 $ 281 $ 234 Average assets $ 19,713 $ 15,508 $ 14,420 Depreciation and amortization 3 14 19 Expenditures for long-lived assets 6 4 2 Corporate Net interest expense $ (228) $ (7) $ (12) Provision credit for loan losses (6) (16) (11) Noninterest income (a) 573 47 249 Noninterest expense (b)(c)(d) 327 256 212 Income (loss) before income taxes 24 (200) 36 Income tax benefit (135) (53) (1) Net income (loss) $ 159 $ (147) $ 37 Average assets $ 12,831 $ 7,984 $ 8,542 Depreciation and amortization 89 29 22 Expenditures for long-lived assets 90 16 — Certain previously reported amounts have been reclassified to agree with current presentation. (a) 2020 includes $533 million purchase accounting gain associated with the IBKC merger; 2018 includes a $213 million pre-tax gain from the sale of Visa Class B shares. (b) 2019 includes restructuring-related costs associated with efficiency initiatives; refer to Note 25 - Restructuring, Repositioning, and Efficiency for additional information. 2020, 2019 and 2018 include merger-related expenses; refer to Note 2 - Acquisitions and Divestitures for additional information. (c) 2019 includes $21 million of asset impairments, professional fees, and other client-contact and technology-related expenses associated with rebranding initiatives. (d) 2020 and 2019 include $41 million and $11 million, respectively of contributions to FHN's foundations. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the years ended December 31, 2020, 2019, and 2018: 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 Mortgage banking and title income — 128 1 129 Brokerage, management fees and commissions 66 — — 66 Trust services and investment management 39 — — 39 Bankcard income 34 2 1 37 Securities gains (losses), net (b) — — (6) (6) Purchase accounting gain — — 533 533 Other income (c) 72 13 38 123 Total noninterest income $ 343 $ 576 $ 573 $ 1,492 December 31, 2019 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ — $ 278 $ 1 $ 279 Deposit transactions and cash management 114 11 7 132 Mortgage banking and title income — 8 2 10 Brokerage, management fees and commissions 55 — — 55 Trust services and investment management 30 — — 30 Bankcard income 26 2 — 28 Other income (c) 64 19 37 120 Total noninterest income $ 289 $ 318 $ 47 $ 654 December 31, 2018 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ — $ 164 $ 4 $ 168 Deposit transactions and cash management 110 17 6 133 Mortgage banking and title income — 8 3 11 Brokerage, management fees and commissions 55 — — 55 Trust services and investment management 30 — — 30 Bankcard income 28 1 — 29 Securities gains (losses), net (b) — — 213 213 Other income (c) 41 20 23 84 Total noninterest income $ 264 $ 210 $ 249 $ 723 Certain previously reported amounts have been reclassified to agree with current presentation. (a) For years ended 2020, 2019 and 2018, includes $39 million, $34 million and $29 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers." 2019 and 2018 include $1 million and $4 million, respectively, of gains from the reversal of a previous valuation adjustment due to sales and payoffs of TRUPS loans excluded from the scope of ASC 606 in the Corporate segment. (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. 2018 includes a pre-tax gain of $213 million from the sale of FHN's remaining holdings of Visa Class B shares. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commissions in scope of ASC 606.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2020
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities FHN makes equity investments in various entities that are considered VIEs, as defined by GAAP. A VIE typically does not have sufficient equity at risk to finance its activities without additional subordinated financial support from other parties. The Company’s variable interest arises from contractual, ownership or other monetary interests in the entity, which change with fluctuations in the fair value of the entity's net assets. FHN consolidates a VIE if it is the primary beneficiary of the entity. FHN is the primary beneficiary of a VIE if its variable interest provides it with the power to direct the activities that most significantly impact the VIE and the right to receive benefits (or the obligation to absorb losses) that could potentially be significant to the VIE. To determine whether or not a variable interest held could potentially be significant to the VIE, FHN considers both qualitative and quantitative factors regarding the nature, size and form of its involvement with the VIE. FHN assesses whether or not it is the primary beneficiary of a VIE on an ongoing basis. Consolidated Variable Interest Entities The following table summarizes the carrying value of assets and liabilities associated with rabbi trusts used for deferred compensation plans which are consolidated by FHN as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 ( Dollars in millions ) Assets: Other assets $ 164 $ 92 Total assets $ 164 $ 92 Liabilities: Other liabilities $ 142 $ 71 Total liabilities $ 142 $ 71 Nonconsolidated Variable Interest Entities Low Income Housing Tax Credit Partnerships. Through designated wholly-owned subsidiaries, First Horizon Bank, makes equity investments as a limited partner in various partnerships that sponsor affordable housing projects utilizing the LIHTC. The purpose of these investments is to achieve a satisfactory return on capital and to support FHN’s community reinvestment initiatives. LIHTC partnerships are managed by unrelated general partners that have the power to direct the activities which most significantly affect the performance of the partnerships. FHN is therefore not the primary beneficiary of any LIHTC partnerships. Accordingly, FHN does not consolidate these VIEs and accounts for these investments in other assets on the Consolidated Balance Sheets. FHN accounts for all qualifying LIHTC investments under the proportional amortization method. Under this method an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance as a component of income tax expense. LIHTC investments that do not qualify for the proportional amortization method are accounted for using the equity method. Expenses associated with non-qualifying LIHTC investments were not material during 2020, 2019, and 2018. The following table summarizes the impact to Income tax expense on the Consolidated Statements of Income for the years ended December 31, 2020, 2019 and 2018 for LIHTC investments accounted for under the proportional amortization method. ( Dollars in millions ) 2020 2019 2018 Income tax expense (benefit): Amortization of qualifying LIHTC investments $ 23 $ 15 $ 11 Low income housing tax credits (22) (14) (10) Other tax benefits related to qualifying LIHTC investments (10) (6) (7) Other Tax Credit Investments. Through designated subsidiaries, First Horizon Bank, periodically makes equity investments as a non-managing member in various LLCs that sponsor community development projects utilizing the NMTC. First Horizon Bank also makes equity investments as a limited partner or non-managing member in entities that receive tax credits from solar and historic tax credits. The purpose of these investments is to achieve a satisfactory return on capital and to support FHN’s community reinvestment initiatives. These entities are considered VIEs as First Horizon Bank's subsidiaries represent the holders of the equity investment at risk, but do not have the ability to direct the activities that most significantly affect the performance of the entities. Small Issuer Trust Preferred Holdings . First Horizon Bank holds variable interests in trusts which have issued mandatorily redeemable preferred capital securities (“trust preferreds”) for smaller banking and insurance enterprises. First Horizon Bank has no voting rights for the trusts’ activities. The trusts’ only assets are junior subordinated debentures of the issuing enterprises. The creditors of the trusts hold no recourse to the assets of First Horizon Bank. Since First Horizon Bank is solely a holder of the trusts’ securities, it has no rights which would give it the power to direct the activities that most significantly impact the trusts’ economic performance and thus it is not considered the primary beneficiary of the trusts. First Horizon Bank has no contractual requirements to provide financial support to the trusts. On-Balance Sheet Trust Preferred Securitization. In 2007, First Horizon Bank executed a securitization of certain small issuer trust preferreds for which the underlying trust meets the definition of a VIE as the holders of the equity investment at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entity’s economic performance. Since First Horizon Bank did not retain servicing or other decision making rights, First Horizon Bank is not the primary beneficiary as it does not have the power to direct the activities that most significantly impact the trust’s economic performance. Accordingly, First Horizon Bank has accounted for the funds received through the securitization as a term borrowing in its Consolidated Balance Sheets. First Horizon Bank has no contractual requirements to provide financial support to the trust. Holdings in Agency Mortgage-Backed Securities. FHN holds securities issued by various Agency securitization trusts. Based on their restrictive nature, the trusts meet the definition of a VIE since the holders of the equity investments at risk do not have the power through voting rights, or similar rights, to direct the activities that most significantly impact the entities’ economic performance. FHN could potentially receive benefits or absorb losses that are significant to the trusts based on the nature of the trusts’ activities and the size of FHN’s holdings. However, FHN is solely a holder of the trusts’ securities and does not have the power to direct the activities that most significantly impact the trusts’ economic performance, and is not considered the primary beneficiary of the trusts. FHN has no contractual requirements to provide financial support to the trusts. Commercial Loan Troubled Debt Restructurings. For certain troubled commercial loans, First Horizon Bank restructures the terms of the borrower’s debt in an effort to increase the probability of receipt of amounts contractually due. Following a troubled debt restructuring, the borrower entity typically meets the definition of a VIE as the initial determination of whether an entity is a VIE must be reconsidered as events have proven that the entity’s equity is not sufficient to permit it to finance its activities without additional subordinated financial support or a restructuring of the terms of its financing. As First Horizon Bank does not have the power to direct the activities that most significantly impact such troubled commercial borrowers’ operations, it is not considered the primary beneficiary even in situations where, based on the size of the financing provided, First Horizon Bank is exposed to potentially significant benefits and losses of the borrowing entity. First Horizon Bank has no contractual requirements to provide financial support to the borrowing entities beyond certain funding commitments established upon restructuring of the terms of the debt that allows for preparation of the underlying collateral for sale. Proprietary Trust Preferred Issuances . In conjunction with its acquisitions, FHN acquired junior subordinated debt underlying multiple issuances of trust preferred debt. All of the trusts are considered VIEs because the ownership interests from the capital contributions to these trusts are not considered “at risk” in evaluating whether the holders of the equity investments at risk in the trusts have the ability to direct the activities that most significantly impact the entities’ economic performance. Thus, FHN cannot be the trusts’ primary beneficiary because its ownership interests in the trusts are not considered variable interests as they are not considered “at risk”. Consequently, none of the trusts are consolidated by FHN. Other. Prior to 2020, FHN had other investments that were determined to be VIE's, which included a sale leaseback transaction and proprietary residential mortgage securitizations. First Horizon Bank had entered into an agreement with a single asset leasing entity whereby First Horizon Bank entered into a construction loan agreement with the leasing entity for renovation of the building. Upon adoption of ASU 2016-02, the transaction qualified as a seller-financed sale-leaseback. First Horizon Bank was not considered the primary beneficiary and thus was precluded from consolidating the leasing entity. The maximum loss exposure at December 31, 2019 was $18 million. Prior to 2020, FHN also held variable interests in proprietary residential mortgage securitization trusts that were established prior to 2008 as a source of liquidity for its mortgage banking operations. First Horizon Bank was not considered the primary beneficiary and thus did not consolidate the leasing entity. The maximum loss exposure at December 31, 2019 was $1 million. The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2020: (Dollars in millions) Maximum Liability Classification Type: Low income housing partnerships $ 338 $ 132 (a) Other tax credit investments (b) 64 42 Other assets Small issuer trust preferred holdings (c) 210 — Loans and leases On-balance sheet trust preferred securitization 32 82 (d) Holdings of agency mortgage-backed securities (c) 7,063 — (e) Commercial loan troubled debt restructurings (f) 186 — Loans and leases Proprietary trust preferred issuances (g) — 287 Term borrowings (a) Maximum loss exposure represents $206 million of current investments and $132 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are recognized in Other liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2024. (b) Maximum loss exposure represents the value of current investments. (c) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (d) Includes $112 million classified as Loans and leases, and $2 million classified as Trading securities which are offset by $82 million classified as Term borrowings. (e) Includes $0.8 billion classified as Trading securities and $6.2 billion classified as Securities available for sale. (f) Maximum loss exposure represents $176 million of current receivables and $10 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (g) No exposure to loss due to nature of FHN's involvement. The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2019: (Dollars in millions) Maximum Liability Classification Type: Low income housing partnerships $ 238 $ 136 (a) Other tax credit investments (b) (c) 6 — Other assets Small issuer trust preferred holdings (d) 238 — Loans and leases On-balance sheet trust preferred securitization 33 81 (e) Proprietary residential mortgage securitizations 1 — Trading securities Holdings of agency mortgage-backed securities (d) 4,538 — (f) Commercial loan troubled debt restructurings (g) 45 — Loans and leases Sale-leaseback transaction 18 — (h) Proprietary trust preferred issuances (i) — 167 Term borrowings (a) Maximum loss exposure represents $101 million of current investments and $137 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other liabilities. (b) A liability is not recognized as investments are written down over the life of the related tax credit. (c) Maximum loss exposure represents current investment balance. As of December 31, 2019, there were no investments funded through loans from community development enterprises. (d) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (e) Includes $112 million classified as Loans and leases and $2 million classified as Trading securities, which are offset by $81 million classified as Term borrowings. (f) Includes $0.5 billion classified as Trading securities and $4.0 billion classified as Securities available for sale. (g) Maximum loss exposure represents $43 million of current receivables and $2 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (h) Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. (i) No exposure to loss due to nature of FHN's involvement.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives In the normal course of business, FHN utilizes various financial instruments (including derivative contracts and credit-related agreements) through its fixed income and risk management operations, as part of its risk management strategy and as a means to meet clients’ needs. Derivative instruments are subject to credit and market risks in excess of the amount recorded on the balance sheet as required by GAAP. The contractual or notional amounts of these financial instruments do not necessarily represent the amount of credit or market risk. However, they can be used to measure the extent of involvement in various types of financial instruments. Controls and monitoring procedures for these instruments have been established and are routinely reevaluated. The ALCO controls, coordinates, and monitors the usage and effectiveness of these financial instruments. Credit risk represents the potential loss that may occur if a party to a transaction fails to perform according to the terms of the contract. The measure of credit exposure is the replacement cost of contracts with a positive fair value. FHN manages credit risk by entering into financial instrument transactions through national exchanges, primary dealers or approved counterparties, and by using mutual margining and master netting agreements whenever possible to limit potential exposure. FHN also maintains collateral posting requirements with certain counterparties to limit credit risk. Daily margin posted or received with central clearinghouses is considered a legal settlement of the related derivative contracts which results in a net presentation for each contract in the Consolidated Balance Sheets. Treatment of daily margin as a settlement has no effect on hedge accounting or gains/losses for the applicable derivative contracts. On December 31, 2020 and 2019, respectively, FHN had $280 million and $137 million of cash receivables and $166 million and $53 million of cash payables related to collateral posting under master netting arrangements, inclusive of collateral posted related to contracts with adjustable collateral posting thresholds and over-collateralized positions, with derivative counterparties. With exchange-traded contracts, the credit risk is limited to the clearinghouse used. For non-exchange traded instruments, credit risk may occur when there is a gain in the fair value of the financial instrument and the counterparty fails to perform according to the terms of the contract and/or when the collateral proves to be of insufficient value. See additional discussion regarding master netting agreements and collateral posting requirements later in this note under the heading “Master Netting and Similar Agreements.” Market risk represents the potential loss due to the decrease in the value of a financial instrument caused primarily by changes in interest rates or the prices of debt instruments. FHN manages market risk by establishing and monitoring limits on the types and degree of risk that may be undertaken. FHN continually measures this risk through the use of models that measure value-at-risk and earnings-at-risk. Derivative Instruments. FHN enters into various derivative contracts both to facilitate client transactions and as a risk management tool. Where contracts have been created for clients, FHN enters into upstream transactions with dealers to offset its risk exposure. Contracts with dealers that require central clearing are novated to a clearing agent who becomes FHN’s counterparty. Derivatives are also used as a risk management tool to hedge FHN’s exposure to changes in interest rates or other defined market risks. Forward contracts are over-the-counter contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Futures contracts are exchange-traded contracts where two parties agree to purchase and sell a specific quantity of a financial instrument at a specified price, with delivery or settlement at a specified date. Interest rate option contracts give the purchaser the right, but not the obligation, to buy or sell a specified quantity of a financial instrument, at a specified price, during a specified period of time. Caps and floors are options that are linked to a notional principal amount and an underlying indexed interest rate. Interest rate swaps involve the exchange of interest payments at specified intervals between two parties without the exchange of any underlying principal. Swaptions are options on interest rate swaps that give the purchaser the right, but not the obligation, to enter into an interest rate swap agreement during a specified period of time. Trading Activities FHNF trades U.S. Treasury, U.S. Agency, government-guaranteed loan, mortgage-backed, corporate and municipal fixed income securities, and other securities for distribution to clients. When these securities settle on a delayed basis, they are considered forward contracts. FHNF also enters into interest rate contracts, including caps, swaps, and floors for its clients. In addition, FHNF enters into futures and option contracts to economically hedge interest rate risk associated with a portion of its securities inventory. These transactions are measured at fair value, with changes in fair value recognized in noninterest income. Related assets and liabilities are recorded on the Consolidated Balance Sheets as derivative assets and derivative liabilities within Other assets and Other liabilities. The FHNF Risk Committee and the Credit Risk Management Committee collaborate to mitigate credit risk related to these transactions. Credit risk is controlled through credit approvals, risk control limits, and ongoing monitoring procedures. Total trading revenues were $371 million, $228 million and $132 million for the years ended December 31, 2020, 2019 and 2018, respectively. Trading revenues are inclusive of both derivative and non-derivative financial instruments, and are included in Fixed income on the Consolidated Statements of Income. The following tables summarize derivatives associated with FHNF's trading activities as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Notional Assets Liabilities Customer interest rate contracts $ 3,950 $ 207 $ 7 Offsetting upstream interest rate contracts 3,950 2 17 Forwards and futures purchased 10,795 62 — Forwards and futures sold 11,633 1 65 December 31, 2019 (Dollars in millions) Notional Assets Liabilities Customer interest rate contracts $ 2,698 $ 66 $ 7 Offsetting upstream interest rate contracts 2,698 3 4 Option contracts purchased 40 — — Forwards and futures purchased 9,217 17 3 Forwards and futures sold 9,403 4 17 Interest Rate Risk Management FHN’s ALCO focuses on managing market risk by controlling and limiting earnings volatility attributable to changes in interest rates. Interest rate risk exists to the extent that interest-earning assets and interest-bearing liabilities have different maturity or repricing characteristics. FHN uses derivatives, primarily swaps, that are designed to moderate the impact on earnings as interest rates change. Interest paid or received for swaps utilized by FHN to hedge the fair value of long term debt is recognized as an adjustment of the interest expense of the liabilities whose risk is being managed. FHN’s interest rate risk management policy is to use derivatives to hedge interest rate risk or market value of assets or liabilities, not to speculate. In addition, FHN has entered into certain interest rate swaps and caps as a part of a product offering to commercial clients that includes customer derivatives paired with upstream offsetting market instruments that, when completed, are designed to mitigate interest rate risk. These contracts do not qualify for hedge accounting and are measured at fair value with gains or losses included in current earnings in Noninterest expense on the Consolidated Statements of Income. FHN had designated derivative transactions in hedging strategies to manage interest rate risk on $400 million of senior debt prior to its maturity in 2019 and on $500 million of senior debt with a maturity in December 2020. These transactions qualified for hedge accounting using the long-haul method. FHN early redeemed the $400 million senior debt in 2019 and the $500 million senior debt in November 2020. The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 6,868 $ 436 $ 1 Offsetting upstream interest rate contracts 6,868 5 35 December 31, 2019 (Dollars in millions) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 3,044 $ 90 $ 4 Offsetting upstream interest rate contracts 3,044 4 10 Debt Hedging Hedging Instruments: Interest rate swaps $ 500 N/A $ — Hedged Items: Term borrowings: Par N/A N/A $ 500 Cumulative fair value hedging adjustments N/A N/A (2) Unamortized premium (discount) and issuance costs N/A N/A (1) Total carrying value N/A N/A $ 497 The following table summarizes gains (losses) on FHN’s derivatives associated with interest rate risk management activities for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, 2020 2019 2018 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts (a) $ 357 $ 92 $ 2 Offsetting upstream interest rate contracts (a) (357) (92) (2) Debt Hedging Hedging Instruments: Interest rate swaps (b) $ 2 $ 13 $ (2) Hedged Items: Term borrowings (a) (c) (2) (13) 2 (a) Gains (losses) included in Other expense within the Consolidated Statements of Income. (b) Gains (losses) included in Interest expense. (c) Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships. Cash Flow Hedges FHN has outstanding pay floating, receive fixed interest rate swaps designed to manage its exposure to the variability in cash flows related to interest payments on debt instruments, which primarily consist of held-to-maturity trust preferred loans. In conjunction with the IBKC merger, FHN acquired interest rate contracts (floors and collars) which have been re-designated as cash flow hedges. The debt instruments primarily consist of held-to-maturity commercial loans that have variable interest payments based on 1-month LIBOR. In a cash flow hedge, the entire change in the fair value of the interest rate swap included in the assessment of hedge effectiveness is initially recorded in OCI and is subsequently reclassified from OCI to current period earnings (interest income or interest expense) in the same period that the hedged item affects earnings. The following tables summarize FHN’s derivative activities associated with cash flow hedges as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 1,500 $ 32 $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 1,500 N/A December 31, 2019 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 900 N/A $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 900 N/A The following table summarizes gains (losses) on FHN’s derivatives associated with cash flow hedges for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, 2020 2019 2018 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Cash Flow Hedges Hedging Instruments: Interest rate contracts (a) $ 3 $ 21 $ (6) Gain (loss) recognized in Other comprehensive income (loss) 15 11 (6) Gain (loss) reclassified from AOCI into Interest income (6) 4 2 (a) Approximately $28 million of pre-tax gains are expected to be reclassified into earnings in the next twelve months. Other Derivatives As part of the merger with IBKC, FHN acquired mortgage banking operations that include the origination and sale of loans into the secondary market. As part of the origination of loans, FHN enters into interest rate lock commitments with borrowers. Additionally, FHN enters into forward sales contracts with buyers for delivery of loans at a future date. Both of these contracts qualify as freestanding derivatives and are recognized at fair value through earnings. The notional and fair values of these contracts are presented in the table below. Balances and activity for periods prior to the IBKC merger were not significant. December 31, 2020 (Dollars in millions) Notional Assets Liabilities Mortgage Banking Hedges Option contracts written $ 667 $ 20 $ — Forward contracts purchased 725 — 6 The following table summarizes gains (losses) on FHN's derivatives associated with mortgage banking activities for the year ended December 31, 2020. Year Ended 2020 (Dollars in millions) Gains (Losses) Mortgage Banking Hedges Option contracts written $ 15 Forward contracts purchased (37) In conjunction with the sales of a portion of its Visa Class B shares in 2010 and 2011, FHN and the purchaser entered into derivative transactions whereby FHN will make or receive cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. FHN is also required to make periodic financing payments to the purchasers until all of Visa's covered litigation matters are resolved. In third quarter 2018, FHN sold the remainder of its Visa Class B shares, entering into a similar derivative arrangement with the counterparty. All of these derivatives extend until the end of Visa’s Covered Litigation matters. In September 2018, Visa reached a preliminary settlement for one class of plaintiffs in its Payment Card Interchange matter, which later received final court approval in December 2019. In accordance with the agreement terms, several individual plaintiffs opted out of the settlement and have the opportunity to separately pursue resolution with Visa. Settlement has not been reached with the second class of plaintiffs in this matter and other covered litigation matters are also pending judicial resolution. Accordingly, the value and timing for completion of Visa’s Covered Litigation matters are uncertain. The derivative transaction executed in third quarter 2018 includes a contingent accelerated termination clause based on the credit ratings of FHN and First Horizon Bank. FHN has not received or paid collateral related to this contract. As of December 31, 2020 and December 31, 2019, the derivative liabilities associated with the sales of Visa Class B shares were $13 million and $23 million, respectively. See Note 24 - Fair Value of Assets and Liabilities for discussion of the valuation inputs and processes for these Visa-related derivatives. FHN utilizes cross currency swaps and cross currency interest rate swaps to economically hedge its exposure to foreign currency risk and interest rate risk associated with non-U.S. dollar denominated loans. As of December 31, 2020 and December 31, 2019, these loans were valued at $12 million and $18 million, respectively. The balance sheet amount and the gains/losses associated with these derivatives were not significant. Related to its loan participation/syndication activities, FHN enters into risk participation agreements, under which it assumes exposure for, or receives indemnification for, borrowers’ performance on underlying interest rate derivative contracts. FHN’s counterparties in these contracts are other lending institutions involved in the loan participation/syndication arrangements for which the underlying interest rate derivative contract is intended to hedge interest rate risk for the borrower. FHN will make (other institution is the lead bank) or receive (FHN is the lead bank) payments for risk participations if the borrower defaults on its obligation to perform under the terms of its interest rate derivative agreement with the lead bank in the participation. As of December 31, 2020, the notional values of FHN’s risk participations were $233 million of derivative assets and $464 million of derivative liabilities. The notional value for risk participation/syndication agreements is consistent with the percentage of participation in the lending arrangement. FHN’s maximum exposure or benefit in the risk participation agreements is contingent on the fair value of the underlying interest rate derivative contracts for which the borrower is in a liability position at the time of default. FHN monitors the credit risk associated with the borrowers to which the risk participations relate through the same credit risk assessment process utilized for establishing credit loss estimates for its loan portfolio. These credit risk estimates are included in the determination of fair value for the risk participations. As of December 31, 2020, FHN had recognized $280 thousand of derivative assets and $820 thousand of derivative liabilities associated with risk participation agreements. In conjunction with the IBKC merger, FHN obtained certain certificates of deposit with the rate of return based on an equity index which is considered an embedded derivative as a written option that must be separately recognized. The risks of the written option are offset by purchasing an option with terms that mirror the written option, which is also carried at fair value on the Company’s Consolidated Balance Sheets. As of December 31, 2020, FHN had recognized $1 million of both assets and liabilities associated with these contracts. Master Netting and Similar Agreements FHN uses master netting agreements, mutual margining agreements and collateral posting requirements to minimize credit risk on derivative contracts. Master netting and similar agreements are used when counterparties have multiple derivatives contracts that allow for a “right of setoff,” meaning that a counterparty may net offsetting positions and collateral with the same counterparty under the contract to determine a net receivable or payable. The following discussion provides an overview of these arrangements which may vary due to the derivative type and market in which a derivative transaction is executed. Interest rate derivatives are subject to agreements consistent with standard agreement forms of the ISDA. Currently, all interest rate derivative contracts are entered into as over-the-counter transactions and collateral posting requirements are based on the net asset or liability position with each respective counterparty. For contracts that require central clearing, novation to a counterparty with access to a clearinghouse occurs and initial margin is posted. Cash margin received (posted) that is considered settlements for the derivative contracts is included in the respective derivative asset (liability) value. Cash margin that is considered collateral received (posted) for interest rate derivatives is recognized as a liability (asset) on FHN’s Consolidated Balance Sheet. Interest rate derivatives with clients that are smaller financial institutions typically require posting of collateral by the counterparty to FHN. This collateral is subject to a threshold with daily adjustments based upon changes in the level or fair value of the derivative position. Positions and related collateral can be netted in the event of default. Collateral pledged by a counterparty is typically cash or securities. The securities pledged as collateral are not recognized within FHN’s Consolidated Balance Sheets. Interest rate derivatives associated with lending arrangements share the collateral with the related loan(s). The derivative and loan positions may be netted in the event of default. For disclosure purposes, the entire collateral amount is allocated to the loan. The net fair value, determined by individual counterparty, of all derivative instruments with adjustable collateral posting thresholds was $200 million of assets and $5 million of liabilities on December 31, 2020, and $63 million of assets and $6 million of liabilities on December 31, 2019. As of December 31, 2020 and 2019, FHN had received collateral of $320 million and $149 million and posted collateral of $34 million and $18 million, respectively, in the normal course of business related to these agreements. Certain agreements entered into prior to required central clearing also contain accelerated termination provisions, inclusive of the right of offset, if a counterparty’s credit rating falls below a specified level. If a counterparty’s debt rating (including FHN’s and First Horizon Bank's) were to fall below these minimums, these provisions would be triggered, and the counterparties could terminate the agreements and require immediate settlement of all derivative contracts under the agreements. The net fair value, determined by individual counterparty, of all interest rate derivative instruments with credit-risk-related contingent accelerated termination provisions was $216 million of assets and $17 million of liabilities on December 31, 2020, and $63 million of assets and $10 million of liabilities on December 31, 2019. As of December 31, 2020 and 2019, FHN had received collateral of $343 million and $149 million and posted collateral of $53 million and $23 million, respectively, in the normal course of business related to these contracts. FHNF buys and sells various types of securities for its clients. When these securities settle on a delayed basis, they are considered forward contracts, and are generally not subject to master netting agreements. For futures and options, FHN transacts through a third party, and the transactions are subject to margin and collateral maintenance requirements. In the event of default, open positions can be offset along with the associated collateral. For this disclosure, FHN considers the impact of master netting and other similar agreements which allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net derivative asset or liability position with the related securities and cash collateral. The application of the collateral cannot reduce the net derivative asset or liability position below zero, and therefore any excess collateral is not reflected in the following tables. The following table provides details of derivative assets and collateral received as presented on the Consolidated Balance Sheets as of December 31, 2020 and 2019: Gross amounts not (Dollars in millions) Gross amounts Gross amounts Net amounts of Derivative liabilities Collateral Net amount Derivative assets: December 31, 2020 Interest rate derivative contracts $ 702 $ — $ 702 $ (7) $ (327) $ 368 Forward contracts 63 — 63 (14) (20) 29 $ 765 $ — $ 765 $ (21) $ (347) $ 397 December 31, 2019 Interest rate derivative contracts $ 162 $ — $ 162 $ (6) $ (143) $ 13 Forward contracts 21 — 21 (13) (2) 6 $ 183 $ — $ 183 $ (19) $ (145) $ 19 (a) Included in Other assets on the Consolidated Balance Sheets. As of December 31, 2020 and 2019, $4 million and $0.1 million, respectively, of derivative assets have been excluded from these tables because they are generally not subject to master netting or similar agreements. The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Balance Sheets as of December 31, 2020 and 2019: Gross amounts not offset (Dollars in millions) Gross amounts Gross Net amounts of Derivative assets Collateral Net amount Derivative liabilities: December 31, 2020 Interest rate derivative contracts $ 60 $ — $ 60 $ (7) $ (31) $ 22 Forward contracts 65 — 65 (14) (51) — $ 125 $ — $ 125 $ (21) $ (82) $ 22 December 31, 2019 Interest rate derivative contracts $ 24 $ — $ 24 $ (6) $ (18) $ — Forward contracts 20 — 20 (13) (7) — $ 44 $ — $ 44 $ (19) $ (25) $ — (a) Included in Other liabilities on the Consolidated Balance Sheets. As of December 31, 2020 and 2019, $22 million and $23 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.

Master Netting and Similar Agre

Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions	12 Months Ended
	Dec. 31, 2020
Offsetting [Abstract]
Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions	Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions For repurchase, reverse repurchase and securities borrowing transactions, FHN and each counterparty have the ability to offset all open positions and related collateral in the event of default. Due to the nature of these transactions, the value of the collateral for each transaction approximates the value of the corresponding receivable or payable. For repurchase agreements through FHN’s fixed income business (securities purchased under agreements to resell and securities sold under agreements to repurchase), transactions are collateralized by securities and/or government guaranteed loans which are delivered on the settlement date and are maintained throughout the term of the transaction. For FHN’s repurchase agreements through banking activities (securities sold under agreements to repurchase), securities are typically pledged at settlement and not released until maturity. For asset positions, the collateral is not included on FHN’s Consolidated Balance Sheets. For liability positions, securities collateral pledged by FHN is generally represented within FHN’s trading or available-for-sale securities portfolios. For this disclosure, FHN considers the impact of master netting and other similar agreements that allow FHN to settle all contracts with a single counterparty on a net basis and to offset the net asset or liability position with the related securities collateral. The application of the collateral cannot reduce the net asset or liability position below zero, and therefore any excess collateral is not reflected in the tables below. Securities purchased under agreements to resell is included in Federal funds sold and securities purchased under agreements to resell in the Consolidated Balance Sheets. Securities sold under agreements to repurchase is included in Short-term borrowings. The following table provides details of securities purchased under agreements to resell and collateral pledged by counterparties as of December 31: Gross amounts not offset in the (Dollars in millions) Gross amounts Gross amounts Net amounts of Offsetting Securities collateral Net amount Securities purchased under agreements to resell: 2020 $ 380 $ — $ 380 $ — $ (379) $ 1 2019 587 — 587 (21) (563) 3 The following table provides details of securities sold under agreements to repurchase and collateral pledged by FHN as of December 31: Gross amounts not offset in the (Dollars in millions) Gross amounts Gross amounts Net amounts of Offsetting Securities/ Net amount Securities sold under agreements to repurchase: 2020 $ 1,187 $ — $ 1,187 $ — $ (1,187) $ — 2019 717 — 717 (21) (696) — Due to the short duration of securities sold under agreements to repurchase and the nature of collateral involved, the risks associated with these transactions are considered minimal. The following tables provide details, by collateral type, of the remaining contractual maturity of securities sold under agreements to repurchase as of December 31: December 31, 2020 (Dollars in millions) Overnight and Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 284 $ — $ 284 Government agency issued MBS 616 — 616 Government agency issued CMO 10 — 10 Other U.S. government agencies 151 — 151 Government guaranteed loans (SBA and USDA) 126 — 126 Total securities sold under agreements to repurchase $ 1,187 $ — $ 1,187 December 31, 2019 (Dollars in millions) Overnight and Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 41 $ — $ 41 Government agency issued MBS 341 5 346 Other U.S. government agencies 55 — 55 Government guaranteed loans (SBA and USDA) 275 — 275 Total securities sold under agreements to repurchase $ 712 $ 5 $ 717

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities FHN groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. This hierarchy requires FHN to maximize the use of observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Each fair value measurement is placed into the proper level based on the lowest level of significant input. These levels are: • Level 1—Valuation is based upon quoted prices for identical instruments traded in active markets. • Level 2—Valuation is based upon quoted prices for similar instruments in active • markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3—Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models, and similar techniques. Recurring Fair Value Measurements The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Level 1 Level 2 Level 3 Total 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 funds 118 — — 118 Equity, mutual funds, and other 25 — — 25 Derivatives, forwards and futures 63 — — 63 Derivatives, interest rate contracts — 702 — 702 Derivatives, other — 4 — 4 Total other assets 206 706 — 912 Total assets $ 206 $ 10,290 $ 60 $ 10,556 Trading liabilities: U.S. treasuries $ — $ 307 $ — $ 307 Government issued agency MBS — 3 — 3 Corporate and other debt — 43 — 43 Total trading liabilities — 353 — 353 Other liabilities: Derivatives, forwards and futures 71 — — 71 Derivatives, interest rate contracts — 60 — 60 Derivatives, other — 4 14 18 Total other liabilities 71 64 14 149 Total liabilities $ 71 $ 417 $ 14 $ 502 December 31, 2019 (Dollars in millions) Level 1 Level 2 Level 3 Total Trading securities: U.S. treasuries $ — $ 135 $ — $ 135 Government agency issued MBS — 268 — 268 Government agency issued CMO — 250 — 250 Other U.S. government agencies — 125 — 125 States and municipalities — 121 — 121 Corporate and other debt — 445 — 445 Equity, mutual funds, and other — 1 — 1 Total trading securities — 1,345 — 1,345 Trading securities—mortgage banking — — 1 1 Loans held for sale (elected fair value) — — 14 14 Securities available for sale: Government agency issued MBS — 2,349 — 2,349 Government agency issued CMO — 1,670 — 1,670 Other U.S. government agencies — 306 — 306 States and municipalities — 61 — 61 Corporate and other debt — 40 — 40 Interest-only strips (elected fair value) — — 19 19 Total securities available for sale — 4,426 19 4,445 Other assets: Deferred compensation mutual funds 47 — — 47 Equity, mutual funds, and other 23 — — 23 Derivatives, forwards and futures 20 — — 20 Derivatives, interest rate contracts — 163 — 163 Total other assets 90 163 — 253 Total assets $ 90 $ 5,934 $ 34 $ 6,058 Trading liabilities: U.S. treasuries $ — $ 407 $ — $ 407 Corporates and other debt — 99 — 99 Total trading liabilities — 506 — 506 Other liabilities: Derivatives, forwards and futures 20 — — 20 Derivatives, interest rate contracts — 24 — 24 Derivatives, other — — 23 23 Total other liabilities 20 24 23 67 Total liabilities $ 20 $ 530 $ 23 $ 573 Changes in Recurring Level 3 Fair Value Measurements The changes in Level 3 assets and liabilities measured at fair value for the years ended December 31, 2020, 2019 and 2018 on a recurring basis are summarized as follows: Year Ended December 31, 2020 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Loans held for investment Net derivative Balance on January 1, 2020 $ 1 $ 19 $ 14 $ — $ (23) Acquired — — — 14 — Total net gains (losses) included in net income (1) (6) 1 — (1) Purchases — 6 — — — Sales — (11) — (4) — Settlements — — (3) (3) 10 Net transfers into (out of) Level 3 — 24 (b) — 9 — Balance on December 31, 2020 $ — $ 32 $ 12 $ 16 $ (14) Net unrealized gains (losses) included in net income $ — (a) $ (4) (c) $ 1 (a) $ — $ (1) (d) Year Ended December 31, 2019 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Net derivative Balance on January 1, 2019 $ 2 $ 10 $ 16 $ (32) Total net gains (losses) included in net income — (5) 2 (4) Purchases — — — — Sales — (47) — — Settlements (1) — (4) 13 Net transfers into (out of) Level 3 — 61 (b) — — Balance on December 31, 2019 $ 1 $ 19 $ 14 $ (23) Net unrealized gains (losses) included in net income $ — (a) $ (2) (c) $ 2 (a) $ (4) (d) Year Ended December 31, 2018 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Net derivative Balance on January 1, 2018 $ 2 $ 1 $ 19 $ (6) Total net gains (losses) included in net income 1 — 1 (5) Purchases — — — (28) (e) Sales — (17) — — Settlements (1) — (4) 7 Net transfers into (out of) Level 3 — 26 (b) — — Balance on December 31, 2018 $ 2 $ 10 $ 16 $ (32) Net unrealized gains (losses) included in net income $ — (a) $ (1) (c) $ 1 (a) $ (5) (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. (e) Increase related to Visa-related derivatives, see Note 22-Derivatives. There were no net unrealized gains (losses) for Level 3 assets and liabilities included in other comprehensive income as of December 31, 2020, 2019 and 2018. Nonrecurring Fair Value Measurements From time to time, FHN may be required to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower of cost or market (“LOCOM”) accounting or write-downs of individual assets. For assets measured at fair value on a nonrecurring basis which were still held on the Consolidated Balance Sheets at December 31, 2020, 2019 and 2018, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value. Carrying value at December 31, 2020 Year Ended December 31, 2020 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—SBAs and USDA $ — $ 508 $ 1 $ 509 $ (3) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 77 77 (12) OREO (b) — — 15 15 (1) Other assets (c) — — 9 9 (2) $ (18) Carrying value at December 31, 2019 Year Ended December 31, 2019 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—SBAs and USDA $ — $ 493 $ 1 $ 494 $ (2) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 42 42 (7) OREO (b) — — 16 16 (1) Other assets (c) — — 11 11 (2) $ (12) Carrying value at December 31, 2018 Year Ended December 31, 2018 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—other consumer $ — $ 19 $ — $ 19 $ (2) Loans held for sale—SBAs and USDA — 577 1 578 (2) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 48 48 (1) OREO (b) — — 22 22 (2) Other assets (c) — — 9 9 (5) $ (12) (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. In 2020, FHN recognized $7 million of fixed asset impairments and $6 million of impairments for lease assets primarily related to continuing merger and acquisition integration efforts associated with reduction of leased office space and branch optimization. These amounts were primarily recognized in the Corporate segment. In 2019, FHN recognized $5 million of impairments and $1 million of impairment reversals, respectively, related to dispositions of acquired properties and $2 million of impairments for lease assets related to continuing acquisition integration efforts associated with reduction of leased office space and branch optimization. Related to its restructuring, repositioning, and efficiency efforts, FHN recognized $14 million of impairments and $1 million of impairment reversals, respectively, for tangible long-lived assets and lease assets. Related to its rebranding initiative, FHN recognized $7 million of impairments for long-lived tangible assets, primarily signage, related to FHN's rebranding initiative. These amounts were recognized in the Corporate segment. In 2018, FHN recognized $4 million of impairments of long-lived assets primarily related to optimization efforts for its facilities. Also, in 2018, $2 million of impairment charges previously recognized in 2017 in the Corporate segment were reversed based on the disposition prices for the applicable locations. Lease asset impairments recognized in 2020 and 2019 represent the reduction in value of the right-of-use assets associated with leases that are being exited in advance of the contractual lease expiration. Impairments are measured using a discounted cash flow methodology, which is considered a Level 3 valuation. Impairments of long-lived tangible assets reflect locations where the associated land and building are either owned or leased. The fair values of owned sites were determined using estimated sales prices from appraisals and broker opinions less estimated costs to sell with adjustments upon final disposition. The fair values of owned assets in leased sites (e.g., leasehold improvements) were determined using a discounted cash flow approach, based on the revised estimated useful lives of the related assets. Both measurement methodologies are considered Level 3 valuations. Impairment adjustments recognized upon disposition of a location are considered Level 2 valuations. Level 3 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 December 31, 2020 and 2019: (Dollars in millions) Values Utilized Level 3 Class Fair Value at December 31, 2020 Valuation Techniques Unobservable Input Range Weighted Average (d) Available for sale securities SBA - interest only strips $ 32 Discounted cash flow Constant prepayment rate 12% 12% Bond equivalent yield 15% - 17% 15% Loans held for sale - residential real estate $ 13 Discounted cash flow Prepayment 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 flow Constant prepayment rate 8% - 12% 10% Bond equivalent yield 7%-8% 7% Loans held for investment $ 16 Discounted cash flow Constant prepayment rate 0% - 26% 11% Constant default rate 0% - 14% 1% Loss severity trends 0% -100% 11% Derivative liabilities, other $ 14 Discounted cash flow Visa 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 properties Marketability adjustments for specific properties 0% - 10% of appraisal NM Other collateral valuations Borrowing 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 properties Adjustment for value changes since appraisal 0% - 10% of appraisal NM Other assets (c) $ 9 Discounted cash flow Adjustments to current sales yields for specific properties 0% - 15% adjustment to yield NM Appraisals from comparable properties Marketability 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 Class Fair Value at December 31, 2019 Valuation Techniques Unobservable Input Range Weighted Average (d) Available for sale securities SBA - interest only strips $ 19 Discounted cash flow Constant prepayment rate 12% 12% Bond equivalent yield 16% - 17% 16% Loans held for sale - residential real estate $ 15 Discounted cash flow Prepayment speeds - First mortgage 3% - 14% 4% Prepayment speeds - HELOC 0% - 12% 8% Foreclosure losses 50% - 66% 64% Loss severity trends - First mortgage 3% - 24% of UPB 14% Loss severity trends - HELOC 0% - 72% of UPB 50% Loans held for sale - unguaranteed interest in SBA loans $ 1 Discounted cash flow Constant prepayment rate 8% - 12% 10% Bond equivalent yield 9% 9% Derivative liabilities, other $ 23 Discounted cash flow Visa covered litigation resolution amount $5.4 billion - $6.0 billion $5.8 billion Probability of resolution scenarios 10% - 50% 16% Time until resolution 15 - 39 months 29 months Loans and leases (a) $ 42 Appraisals from comparable properties Marketability adjustments for specific properties 0% - 10% of appraisal NM Other collateral valuations Borrowing base certificates adjustment 20% - 50% of gross value NM Financial Statements/Auction values adjustment 0% - 25% of reported value NM OREO (b) $ 16 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal NM Other assets (c) $ 11 Discounted cash flow Adjustments to current sales yields for specific properties 0% - 15% adjustment to yield NM Appraisals from comparable properties Marketability 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. Securities AFS . Increases (decreases) in estimated prepayment rates and bond equivalent yields negatively (positively) affect the value of SBA interest only strips. Management additionally considers whether the loans underlying related SBA-interest only strips are delinquent, in default or prepaying, and adjusts the fair value down 20 - 100% depending on the length of time in default. Loans held for sale. Foreclosure losses and prepayment rates are significant unobservable inputs used in the fair value measurement of FHN’s residential real estate loans held for sale. Loss severity trends are also assessed to evaluate the reasonableness of fair value estimates resulting from discounted cash flows methodologies as well as to estimate fair value for newly repurchased loans and loans that are near foreclosure. Significant increases (decreases) in any of these inputs in isolation would result in significantly lower (higher) fair value measurements. All observable and unobservable inputs are re-assessed quarterly. Increases (decreases) in estimated prepayment rates and bond equivalent yields negatively (positively) affect the value of unguaranteed interests in SBA loans. Unguaranteed interest in SBA loans held for sale are carried at less than the outstanding balance due to credit risk estimates. Credit risk adjustments may be reduced if prepayment is likely or as consistent payment history is realized. Management also considers other factors such as delinquency or default and adjusts the fair value accordingly. Loans held for investment. Constant prepayment rate, constant default rate and loss severity trends are significant unobservable inputs used in the fair value measurement of loans held for investment. Increases (decreases) in each of these inputs in isolation result in negative (positive) effects on the valuation of the associated loans. Derivative liabilities. In conjunction with the sales of its Visa Class B shares, FHN and the purchasers entered into derivative transactions whereby FHN will make, or receive, cash payments whenever the conversion ratio of the Visa Class B shares into Visa Class A shares is adjusted. FHN uses a discounted cash flow methodology in order to estimate the fair value of FHN’s derivative liabilities associated with its prior sales of Visa Class B shares. The methodology includes estimation of both the resolution amount for Visa’s Covered Litigation matters as well as the length of time until the resolution occurs. Significant increases (decreases) in either of these inputs in isolation would result in significantly higher (lower) fair value measurements for the derivative liabilities. Additionally, FHN performs a probability weighted multiple resolution scenario to calculate the estimated fair value of these derivative liabilities. Assignment of higher (lower) probabilities to the larger potential resolution scenarios would result in an increase (decrease) in the estimated fair value of the derivative liabilities. Since this estimation process requires application of judgment in developing significant unobservable inputs used to determine the possible outcomes and the probability weighting assigned to each scenario, these derivatives have been classified within Level 3 in fair value measurements disclosures. Loans and leases and Other Real Estate Owned. Collateral-dependent loans and OREO are primarily valued using appraisals based on sales of comparable properties in the same or similar markets. Other collateral (receivables, inventory, equipment, etc.) is valued through borrowing base certificates, financial statements and/or auction valuations. These valuations are discounted based on the quality of reporting, knowledge of the marketability/collectability of the collateral and historical disposition rates. Other assets – tax credit investments. The estimated fair value of tax credit investments accounted for under the equity method is generally determined in relation to the yield (i.e., future tax credits to be received) an acquirer of these investments would expect in relation to the yields experienced on current new issue and/or secondary market transactions. Thus, as tax credits are recognized, the future yield to a market participant is reduced, resulting in consistent impairment of the individual investments. Individual investments are reviewed for impairment quarterly, which may include the consideration of additional marketability discounts related to specific investments which typically includes consideration of the underlying property’s appraised value. Fair Value Option FHN has elected the fair value option on a prospective basis for substantially all types of mortgage loans originated for sale purposes except for mortgage origination operations which utilize the platform acquired from CBF. FHN determined that the election reduces certain timing differences and better matches changes in the value of such loans with changes in the value of derivatives and forward delivery commitments used as economic hedges for these assets at the time of election. Repurchased loans relating to mortgage banking operations conducted prior to the IBKC merger are recognized within loans held for sale at fair value at the time of repurchase, which includes consideration of the credit status of the loans and the estimated liquidation value. FHN has elected to continue recognition of these loans at fair value in periods subsequent to reacquisition. Due to the credit-distressed nature of the vast majority of repurchased loans and the related loss severities experienced upon repurchase, FHN believes that the fair value election provides a more timely recognition of changes in value for these loans that occur subsequent to repurchase. Absent the fair value election, these loans would be subject to valuation at the LOCOM value, which would prevent subsequent values from exceeding the initial fair value, determined at the time of repurchase, but would require recognition of subsequent declines in value. Thus, the fair value election provides for a more timely recognition of any potential future recoveries in asset values while not affecting the requirement to recognize subsequent declines in value. FHN also has a portion of mortgage loans held for investment for which the fair value option was elected upon origination and which continue to be accounted for at fair value. 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. December 31, 2020 (Dollars in millions) Fair value Aggregate Fair value carrying amount Residential real estate loans held for sale reported at fair value: Total loans $ 405 $ 442 $ (37) Nonaccrual loans 2 5 (3) Loans held for investment reported at fair value: Total loans 16 17 (1) Nonaccrual loans 1 1 — December 31, 2019 (Dollars in millions) Fair value Aggregate Fair value carrying amount Residential real estate loans held for sale reported at fair value: Total loans $ 14 $ 19 $ (5) Nonaccrual loans 4 7 (3) 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: Year Ended December 31, (Dollars in millions) 2020 2019 2018 Changes in fair value included in net income: Mortgage banking and title noninterest income Loans held for sale $ 4 $ 2 $ 1 For the years ended December 31, 2020, 2019 and 2018, the amount for residential real estate loans held for sale included an insignificant amount of gains in pretax earnings that are attributable to changes in instrument-specific credit risk. The portion of the fair value adjustments related to credit risk was determined based on estimated default rates and estimated loss severities. Interest income on residential real estate loans held for sale measured at fair value is calculated based on the note rate of the loan and is recorded in the interest income section of the Consolidated Statements of Income as interest on loans held for sale. FHN has elected to account for retained interest-only strips from guaranteed SBA loans recorded in available-for-sale securities at fair value through earnings. Since these securities are subject to the risk that prepayments may result in FHN not recovering all or a portion of its recorded investment, the fair value election results in a more timely recognition of the effects of estimated prepayments through earnings rather than being recognized through other comprehensive income with periodic review for other-than-temporary impairment. Gains or losses are recognized through fixed income revenues and are presented in the recurring measurements table. Determination of Fair Value Fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The following describes the assumptions and methodologies used to estimate the fair value of financial instruments recorded at fair value in the Consolidated Balance Sheets and for estimating the fair value of financial instruments for which fair value is disclosed. Short-term financial assets. Federal funds sold, securities purchased under agreements to resell, and interest bearing deposits with other financial institutions and the Federal Reserve are carried at historical cost. The carrying amount is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its expected realization. Trading securities and trading liabilities. Trading securities and trading liabilities are recognized at fair value through current earnings. Trading inventory held for broker-dealer operations is included in trading securities and trading liabilities. Broker-dealer long positions are valued at bid price in the bid-ask spread. Short positions are valued at the ask price. Inventory positions are valued using observable inputs including current market transactions, benchmark yields, credit spreads and consensus prepayment speeds. Trading loans are valued using observable inputs including current market transactions, swap rates, mortgage rates, and consensus prepayment speeds. Prior to December 31, 2020, trading securities also included retained interests in prior mortgage securitizations that qualify as financial assets, which include primarily principal-only strips. FHN uses inputs including yield curves, credit spreads, and prepayment speeds to determine the fair value of principal-only strips. Securities available for sale. Valuations of available-for-sale securities are performed using observable inputs obtained from market transactions in similar securities. Typical inputs include benchmark yields, consensus prepayment speeds and credit spreads. Trades from similar securities and broker quotes are used to support these valuations. Interest only strips are valued at elected fair value based on an income approach using an internal valuation model. The internal valuation model includes assumptions regarding projections of future cash flows, prepayment rates, default rates and interest only strip terms. These securities bear the risk of loan prepayment or default that may result in FHN not recovering all or a portion of its recorded investment. When appropriate, valuations are adjusted for various factors including default or prepayment status of the underlying SBA loans. Because of the inherent uncertainty of valuation, those estimated values may be higher or lower than the values that would have been used had a ready market for the securities existed, and may change in the near term. Loans held for sale. FHN determines the fair value of loans held for sale using either current transaction prices or discounted cash flow models. Fair values are determined using current transaction prices and/or values on similar assets when available, including committed bids for specific loans or loan portfolios. Uncommitted bids may be adjusted based on other available market information. Fair value of residential real estate loans held for sale determined using a discounted cash flow model incorporates both observable and unobservable inputs. Inputs in the discounted cash flow model include current mortgage rates for similar products, estimated prepayment rates, foreclosure losses, and various loan performance measures (delinquency, LTV, credit score). Adjustments for delinquency and other differences in loan characteristics are typically reflected in the model’s discount rates. Loss severity trends and the value of underlying collateral are also considered in assessing the appropriate fair value for severely delinquent loans and loans in foreclosure. The valuation of HELOCs also incorporates estimated cancellation rates for loans expected to become delinquent. Non-mortgage consumer loans held for sale are valued using committed bids for specific loans or loan portfolios or current market pricing for similar assets with adjustments for differences in credit standing (delinquency, historical default rates for similar loans), yield, collateral values and prepayment rates. If pricing for similar assets is not available, a discounted cash flow methodology is utilized, which incorporates all of these factors into an estimate of investor required yield for the discount rate. FHN utilizes quoted market prices of similar instruments or broker and dealer quotations to value the SBA and USDA guaranteed loans. FHN values SBA-unguaranteed interests in loans held for sale based on individual loan characteristics, such as industry type and pay history which generally follows an income approach. Furthermore, these valuations are adjusted for changes in prepayment estimates and are reduced due to restrictions on trading. The fair value of other non-residential real estate loans held for sale is approximated by their carrying values based on current transaction values. Mortgage loans held for investment at fair value option. The fair value of mortgage loans held for investment at fair value option is determined by a third party using a discounted cash flow model using various assumptions about future loan performance (constant prepayment rate, constant default rate and loss severity trends) and market discount rates. Loans held for investment. The fair values of mortgage loans are estimated using an exit price methodology that is based on present values using the interest rate that would be charged for a similar loan to a borrower with similar risk, weighted for varying maturity dates and adjusted for a liquidity discount based on the estimated time period to complete a sale transaction with a market participant. Other loans and leases are valued based on present values using the interest rate that would be charged for a similar instrument to a borrower with similar risk, applicable to each category of instruments, and adjusted for a liquidity discount based on the estimated time period to complete a sale transaction with a market participant. For loans measured using the estimated fair value of collateral less costs to sell, fair value is estimated using appraisals of the collateral. Collateral values are monitored and additional write-downs are recognized if it is determined that the estimated collateral values have declined further. Estimated costs to sell are based on current amounts of disposal costs for similar assets. Carrying value is considered to reflect fair value for these loans. Derivative assets and liabilities . The fair value for forwards and futures contracts is based on current transactions involving identical securities. Futures contracts are exchange-traded and thus have no credit risk factor assigned as the risk of non-performance is limited to the clearinghouse used. Valuations of other derivatives (primarily interest rate contracts) are based on inputs observed in active markets for similar instruments. Typical

Restructuring, Repositioning, a

Restructuring, Repositioning, and Efficiency	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring, Repositioning, and Efficiency	Restructuring, Repositioning, and Efficiency Beginning in 2019, FHN initiated a company-wide review of business practices with the goal of optimizing its expense base to improve profitability and create capacity to reinvest savings into technology and revenue production activities. Restructuring, repositioning, and efficiency charges related to these corporate-driven actions were not significant in 2020 and were $40 million in 2019. These expenses are included in the Corporate segment. Significant expenses resulted from the following actions: • Severance and other employee costs primarily related to efficiency initiatives within corporate and bank services functions which are classified as personnel expense within noninterest expense. • Expense largely related to the identification of efficiency opportunities within the organization which is reflected in legal and professional fees. • Expense related to costs associated with asset impairments which is reflected in other expense. Settlement of the obligations arising from current initiatives will be funded from operating cash flows. Total expense recognized for the year ended December 31, 2019 is presented in the table below: (Dollars in millions) Year Ended December 31, 2019 Personnel expense $ 11 Legal and professional fees 16 Net occupancy expense 1 Other 12 Total restructuring, repositioning, and efficiency charges $ 40

Parent Company Financial Inform

Parent Company Financial Information	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Parent Company Financial Information	Parent Company Financial Information Following are statements of the parent company: Balance Sheets December 31, (Dollars in millions) 2020 2019 Assets: Cash $ 827 $ 369 Notes receivable 3 3 Investments in subsidiaries: Bank 8,176 5,039 Non-bank 88 18 Other assets 274 171 Total assets $ 9,368 $ 5,600 Liabilities and equity: Accrued employee benefits and other liabilities $ 322 $ 177 Term borrowings 1,034 642 Total liabilities 1,356 819 Total equity 8,012 4,781 Total liabilities and equity $ 9,368 $ 5,600 Statements of Income Year Ended December 31, (Dollars in millions) 2020 2019 2018 Dividend income: Bank $ 180 $ 345 $ 420 Non-bank — 1 1 Total dividend income 180 346 421 Other income — 1 — Total income 180 347 421 Provision (provision credit) for credit losses — (1) — Interest expense - term borrowings 39 31 31 Compensation, employee benefits and other expense 54 53 54 Total expense 93 83 85 Income before income taxes 87 264 336 Income tax benefit (18) (19) (39) Income before equity in undistributed net income of subsidiaries 105 283 375 Equity in undistributed net income (loss) of subsidiaries: Bank 736 160 171 Non-bank 4 (2) (1) Net income attributable to the controlling interest $ 845 $ 441 $ 545 Statements of Cash Flows (Dollars in millions) 2020 2019 2018 Operating activities: Net income $ 845 $ 441 $ 545 Less undistributed net income of subsidiaries 740 158 170 Income before undistributed net income of subsidiaries 105 283 375 Adjustments to reconcile income to net cash provided by operating activities: Depreciation, amortization, and other — (1) — (Gain) loss on derivative transactions 4 — — Deferred income tax expense 5 4 3 Stock-based compensation expense 32 22 23 Other operating activities, net 21 28 7 Total adjustments 62 53 33 Net cash provided by operating activities 167 336 408 Investing activities: Proceeds from sales and prepayments of securities — 1 — Purchases of securities (5) — — (Investment in) return on subsidiary (2) — 2 Cash received (paid for) business combination, net 103 — (40) Net cash provided by (used in) investing activities 96 1 (38) Financing activities: Proceeds from issuance of preferred stock 144 — — Cash dividends paid - preferred stock (17) (6) (6) Common stock: Stock options exercised 7 9 4 Cash dividends paid (222) (171) (139) Repurchase of shares (4) (134) (105) Proceeds from issuance of term borrowings 795 — — Repayment of term borrowings (500) — (45) Other financing activities, net (8) — — Net cash provided by (used in) financing activities 195 (302) (291) Net increase in cash and cash equivalents 458 35 79 Cash and cash equivalents at beginning of year 369 334 255 Cash and cash equivalents at end of year $ 827 $ 369 $ 334 Total interest paid $ 33 $ 29 $ 29 Income taxes received from subsidiaries 33 43 49

Significant Accounting Polici_2

Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	Basis of Accounting. The consolidated financial statements of FHN, including its subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America and follow general practices within the industries in which it operates. This preparation requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates and assumptions are based on information available as of the date of the financial statements and could differ from actual results. Merger with IBERIABANK Corporation. On July 1, 2020, FHN and IBERIABANK Corporation closed their merger of equals transaction. Historical periods prior to the closing of the merger only reflect results of legacy FHN operations. Subsequent to closing, results reflect all post-merger activity. Refer to Note 2 – Acquisitions and Divestitures for additional information regarding the transaction.
Reclassification	Reclassification. In connection with the IBKC merger, certain captions in the Consolidated Balance Sheets and Consolidated Statements of Income, loan categories, and business activities within the segments were realigned. Amounts reported in prior periods' consolidated financial statements, which represent FHN's pre-merger financial results, have been reclassified to conform to the current presentation.
Principles of Consolidation	Principles of Consolidation. The consolidated financial statements include the accounts of FHN and other entities in which it has a controlling financial interest. Variable Interest Entities for which FHN or a subsidiary has been determined to be the primary beneficiary are also consolidated. Affiliates for which FHN is not considered the primary beneficiary and in which FHN does not have a controlling financial interest are accounted for by the equity method. These investments are included in other assets, and FHN’s proportionate share of income or loss is included in noninterest income. All significant intercompany transactions and balances have been eliminated.
Business Combinations	Business Combinations. FHN accounts for acquisitions meeting the definition of a business combination in accordance with ASC 805, "Business Combinations," which requires acquired assets and liabilities (other than tax, certain benefit plan
Revenues	Revenues. Revenue is recognized when the performance obligations under the terms of a contract with a client are satisfied in an amount that reflects the consideration FHN expects to be entitled. FHN derives a significant portion of its revenues from fee-based services. Noninterest income from transaction-based fees is generally recognized immediately upon completion of the transaction. Noninterest income from service-based fees is generally recognized over the period in which FHN provides the service. Any services performed over time generally require that FHN render services each period and therefore FHN measures progress in completing these services based upon the passage of time and recognizes revenue as invoiced. Following is a discussion of FHN's key revenues within the scope of ASC 606, "Revenue from Contracts with Customers", except as noted. Fixed Income. Fixed income includes fixed income securities sales, trading, and strategies, loan sales and derivative sales which are not within the scope of revenue from contracts with customers. Fixed income also includes investment banking fees earned for services related to underwriting debt securities and performing portfolio advisory services. FHN's performance obligation for underwriting services is satisfied on the trade date while advisory services is satisfied over time. Mortgage banking and title income. As a result of the IBKC merger on July 1, 2020, mortgage banking and title income has become a more significant revenue source. Mortgage banking and title income includes mortgage servicing income, title income, mortgage loan originations and sales, derivative settlements, as well as any changes in fair value recorded on mortgage loans and derivatives. Mortgage banking income from 1) sale of loans, 2) settlement of derivatives, 3) changes in fair value of loans, derivatives and servicing rights and 4) servicing of loans are not within the scope of revenue from contracts with customers. Title income is earned when FHN fulfills its performance obligation at the point in time when the services are completed. Deposit Transactions and Cash Management. Deposit transactions and cash management activities include fees for services related to consumer and commercial deposit products (such as service charges on checking accounts), cash management products and services such as electronic transaction processing (Automated Clearing House and Electronic Data Interchange), account reconciliation services, cash vault services, lockbox processing, and information reporting to large corporate clients. FHN's obligation for transaction-based services is satisfied at the time of the transaction when the service is delivered while FHN's obligation for service based fees is satisfied over the course of each month. Brokerage, Management Fees and Commissions. Brokerage, management fees and commissions include fees for portfolio management, trade commissions, and annuity and mutual fund sales. Asset-based management fees are charged based on the market value of the client’s assets. The services associated with these revenues, which include investment advice and active management of client assets are generally performed and recognized over a month or quarter. Transactional revenues are based on the size and number of transactions executed at the client’s direction and are generally recognized on the trade date. Trust Services and Investment Management. Trust services and investment management fees include investment management, personal trust, employee benefits, and custodial trust services. Obligations for trust services are generally satisfied over time but may be satisfied at points in time for certain activities that are transactional in nature. Bankcard Income. Bankcard income includes credit interchange and network revenues and various card-related fees. Interchange income is recognized concurrently with the delivery of services on a daily basis. Card-related fees such as late fees, currency conversion, and cash advance fees are loan-related and excluded from the scope of ASC 606. Contract Balances. As of December 31, 2020, accounts receivable related to products and services on non-interest income were $10 million. For the year ended December 31, 2020, FHN had no material impairment losses on non-interest accounts receivable and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheets as of December 31, 2020. Credit risk is assessed on these accounts receivable each reporting period and the amount of estimated uncollectible receivables is not material. Transaction Price Allocated to Remaining Performance Obligations. For the year ended December 31, 2020, revenue recognized from performance obligations related to prior periods was not material. Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less and contracts where revenue is recognized as invoiced, is not material.
Debt and Equity Investment Securities	Debt Investment Securities. Debt securities that may be sold prior to maturity are classified as AFS and are carried at fair value. The unrealized gains and losses on debt securities AFS, including securities for which no credit impairment exists, are excluded from earnings and are reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Statements of Comprehensive Income. Debt securities which management has the intent and ability to hold to maturity are reported at amortized cost. Interest-only strips that are classified as securities AFS are valued at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information. Realized gains and losses (i.e., from sales) for debt investment securities are determined by the specific identification method and reported in noninterest income. In periods subsequent to 2019, the evaluation of credit risk for HTM debt securities mirrors the process described below for loans held for investment. AFS debt securities are reviewed for potential credit impairment at the individual security level. The evaluation of credit risk includes consideration of third-party and government guarantees (both explicit and implicit), senior or subordinated status, credit ratings of the issuer, the effects of interest rate changes since purchase and observable market information such as issuer-specific credit spreads. Credit losses for AFS debt securities are generally recognized through establishment of an allowance for credit losses that cannot exceed the amount by which amortized cost exceeds fair value. Charge-offs are recorded as reductions of the security’s amortized cost and the credit allowance. Subsequent improvements in estimated credit losses result in reduction of the credit allowance, but not beyond zero. However, if FHN has the intent to sell or if it is more-likely-than-not that it will be compelled to sell a security with an unrecognized loss, the difference between the security's carrying value and fair value is recognized through earnings and a new amortized cost basis is established for the security (i.e., no allowance for credit losses is recognized). FHN has elected to exclude accrued interest receivable from the fair value and amortized cost basis on AFS debt securities when assessing whether these securities have experienced credit impairment. Additionally, FHN has elected to not measure an allowance for credit losses on AIR for AFS debt securities based on its policy to write off uncollectible interest in a timely manner, which generally occurs when delinquency reaches no more than 90 days for all security types. Any such write offs are recognized as a reduction of interest income. AIR for AFS debt securities is included within Other assets in the Consolidated Balance Sheet. In periods prior to 2020, both AFS and HTM securities were reviewed quarterly for possible other-than-temporary impairment. The review included an analysis of the facts and circumstances of each individual investment such as the degree of loss, the length of time the fair value had been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and FHN’s intent and ability to hold the security. Declines in value judged to be OTTI based on FHN’s analysis of the facts and circumstances related to an individual investment, including securities that FHN had the intent to sell, were determined by the specific identification method. For HTM debt securities, OTTI recognized was typically credit-related and was reported in noninterest income. For impaired AFS debt securities that FHN did not intend to sell and was not required to sell prior to recovery but for which credit losses existed, the OTTI recognized was allocated between the total impairment related to credit losses which was reported in noninterest income, and the impairment related to all other factors which was excluded from earnings and reported, net of tax, as a component of other comprehensive income within shareholders’ equity and the Consolidated Statements of Comprehensive Income. Equity Investment Securities. Equity securities are classified in Other assets. Banks organized under state law may apply to be members of the Federal Reserve System. Each member bank is required to own stock in its regional Federal Reserve Bank. Given this requirement, FRB stock may not be sold, traded, or pledged as collateral for loans. Membership in the Federal Home Loan Bank network requires ownership of capital stock. Member banks are entitled to borrow funds from the FHLB and are required to pledge mortgage loans as collateral. Investments in the FHLB are non-transferable and, generally, membership is maintained primarily to provide a source of liquidity as needed. FRB and FHLB stock are recorded at cost and are subject to impairment reviews. FHN's subsidiary, First Horizon Bank, was a state member bank throughout 2020. Other equity investments primarily consist of mutual funds which are marked to fair value through earnings. Smaller balances of equity investments without a readily determinable fair value are recorded at cost minus impairment with adjustments through earnings for observable price changes in orderly transactions for the identical or a similar investment of the same issuer.
Fed Funds Sold and Purchased	Fed Funds Sold and Purchased. Fed funds sold and purchased represent unsecured overnight funding arrangements between participants in the Federal Reserve system primarily to assist banks in meeting their regulatory cash reserve requirements. Fed Funds sold are evaluated for credit risk each reporting period. Due to the short duration of each transaction and the history of no credit losses, no credit loss has been recognized.
Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase	Securities Purchased Under Agreements to Resell and Securities Sold Under Agreements to Repurchase. FHN purchases short-term securities under agreements to resell which are accounted for as collateralized financings except where FHN does not have an agreement to sell the same or substantially the same securities before maturity at a fixed or determinable price. All of FHN’s securities purchased under agreements to resell are recognized as collateralized financings. Securities delivered under these transactions are delivered to either the dealer custody account at the FRB or to the applicable counterparty. Securities sold under agreements to repurchase are offered to cash management clients as an automated, collateralized investment account. Securities sold under agreements to repurchase are also used by the consumer/commercial bank to obtain favorable borrowing rates on its purchased funds. All of FHN's securities sold under agreements to repurchase are secured borrowings. Collateral is valued daily and FHN may require counterparties to deposit additional securities or cash as collateral, or FHN may return cash or securities previously pledged by counterparties, or FHN may be required to post additional securities or cash as collateral, based on the contractual requirements for these transactions. FHN’s fixed income business utilizes securities borrowing arrangements as part of its trading operations. Securities borrowing transactions generally require FHN to deposit cash with the securities lender. The amount of cash advanced is recorded within Securities purchased under agreements to resell in the Consolidated Balance Sheets. These transactions are not considered purchases and the securities borrowed are not recognized by FHN. FHN does not conduct securities lending transactions. Securities purchased under agreements to resell and securities borrowing arrangements are evaluated for credit risk each reporting period. As presented in Note 23 - Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions, these agreements are collateralized by the related securities and collateral maintenance provisions with counterparties, including replenishment and adjustment on a transaction specific basis. This collateral includes both the securities collateral for each transaction as well as offsetting securities sold under agreements to repurchase with the same counterparty. Given the history of no credit losses and collateralized nature of these transactions, no credit loss has been recognized.
Loans Held-for-Sale	Loans Held for Sale. Loans originated or purchased for which management lacks the intent to hold are included in loans held for sale in the Consolidated Balance Sheets. FHN generally accounts for loans held for sale at the lower of amortized cost or market value, with an exception for certain mortgage loans held for sale and repurchased loans that are not governmentally insured which are carried under the fair value option of reporting. On July 1, 2020 as part of the IBKC merger, FHN obtained operations that generate two types of loans held for sale: • Fair Value Option Election. These loans, which represent the majority of the IBKC loans held for sale portfolio, consist of fixed rate single-family residential mortgage loans originated by IBKC and committed to be sold in the secondary market. Gains and losses on these mortgage loans are included in mortgage banking and title income.
Loans and Leases, Purchased Credit-Deteriorated Loans, Purchased Credit-Impaired Loans, and Allowance for Loan and Lease Losses	Loans and Leases. Generally, loans are stated at principal amounts outstanding, net of unearned income. Interest on loans is recognized on an accrual basis at the applicable interest rate on the principal amount outstanding. Loan origination fees and direct costs as well as premiums and discounts are amortized as level yield adjustments over the respective loan terms. Unamortized net fees or costs, premiums and discounts are recognized in interest income upon early repayment of the loans. Cash collections from loans that were fully charged off prior to acquisition are recognized in noninterest income. Loan commitment fees are generally deferred and amortized on a straight-line basis over the commitment period. As a result of the IBKC merger, FHN obtained equipment financing leases to commercial clients, which are primarily classified as direct financing and sales-type leases. Equipment financing leases are reported at the net lease investment, which represents the sum of minimum lease payments over the lease term and the estimated residual value, less unearned interest income. Interest income is accrued as earned over the term of the lease based on the net investment in leases. Fees incurred to originate the lease are deferred and recognized as an adjustment of the yield on the lease. FHN also obtained a small amount of loans held for investment in the IBKC merger which are accounted for at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for further discussion of these loans. FHN has elected to exclude accrued interest receivable from the amortized cost basis on its held-for-investment loan portfolio. FHN has also elected to not measure an allowance for credit losses on AIR for loans held for investment based on its policy to write off uncollectible interest in a timely manner, which occurs when a loan is placed on nonaccrual status. Such write-offs are recognized as a reduction of interest income. AIR for held-for-investment loans is included within Other assets in the Consolidated Balance Sheets. FHN has continued to accrue interest on loans for which payment deferrals have been extended to borrowers affected by the COVID-19 pandemic. Deferrals are typically made in increments of three or six months. Cumulative deferrals of six months or longer are beyond FHN's normal write-off practices for accrued interest. Therefore, these interest deferrals do not qualify for FHN's election to not recognize a credit loss allowance for accrued interest. Accordingly, FHN has estimated credit losses for COVID-19 interest deferrals which is included within AIR in Other assets in the Consolidated Balance Sheets. Purchased Credit-Deteriorated Loans. Subsequent to 2019, at the time of acquisition FHN evaluates all acquired loans to determine if they have experienced a more-than-insignificant deterioration in credit quality since origination. PCD loans can be identified on either an 1) individual or 2) pooled basis when the loans share similar risk characteristics. FHN evaluates various absolute factors to assist in the identification of PCD loans, including criteria such as, existing PCD status, risk rating of special mention or lower, nonaccrual or impaired status, identification of prior TDRs, and delinquency status. FHN also utilizes relative factors to identify PCD loans such as commercial loan grade migration, expansion of borrower credit spreads, declines in external risk ratings and changes in consumer loan characteristics (e.g., FICO decline or LTV increase). In addition, factors reflective of broad economic considerations are also considered in identifying PCD loans. These include industry, collateral type, and geographic location for the borrower’s operations. Internal factors for origination of new loans that are similar to the acquired loans are also evaluated to assess loans for PCD status, including increases in required yields, necessity of borrowers’ providing additional collateral and/or guarantees and changes in acceptable loan duration. Other indicators may also be used to evaluate loans for PCD status depending on borrower-specific communications and actions, such public statements, initiation of loan modification discussions and obtaining emergency funding from alternate sources. Upon acquisition, the expected credit losses are allocated to the purchase price of individual PCD loans to determine each individual asset's amortized cost basis, typically resulting in a reduction of the discount that is accreted prospectively to interest income. At the acquisition date and prospectively, only the unpaid principal balance is incorporated within the estimation of expected credit losses for PCD loans. Otherwise, the process for estimation of expected credit losses is consistent with that discussed below. As discussed below FHN applies undiscounted cash flow methodologies for the estimation of expected credit losses, which results in the calculated amount of credit losses at acquisition that is added to the amortized cost basis of the related PCD loans to exceed the discounted value of estimated credit losses included in the loan valuation. For PCD loans where all or a portion of the loan balance has been previously written-off, or would be subject to write-off under FHN’s charge-off policy, the initial ALLL included as part of the grossed-up loan balance at acquisition was immediately written-off, resulting in a zero period-end allowance balance and no impact on the ALLL rollforward. Purchased Credit-Impaired Loans. Prior to 2020, ASC 310-30 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer,” established guidance for acquired loans that exhibited deterioration of credit quality between origination and the time of acquisition and for which the timely collection of the interest and principal was not reasonably assured. PCI loans were initially recorded at fair value which was estimated by discounting expected cash flows at acquisition date. The expected cash flows included all contractually expected amounts (including interest) and incorporated an estimate for future expected credit losses, pre-payment assumptions, and yield requirement for a market participant, among other things. To the extent possible, certain PCI loans were aggregated into pools with composite interest rate and cash flows expected to be collected for the pool. Aggregation into loan pools was based upon common risk characteristics that include similar credit risk or risk ratings, and one or more predominant risk characteristics. Each PCI pool was accounted for as a single unit. Accretable yield was initially established at acquisition and is the excess of cash flows expected at acquisition over the initial investment in the loan and was recognized in interest income over the remaining life of the loan, or pool of loans. Nonaccretable difference was initially established at acquisition and was the difference between the contractually required payments at acquisition and the cash flows expected to be collected at acquisition. FHN estimated expected cash flows for PCI loans on a quarterly basis. Increases in expected cash flows from the last measurement resulted in reversal of any nonaccretable difference (or allowance for loan and lease losses to the extent any has previously been recorded) with a prospective positive impact on interest income. Decreases to the expected cash flows resulted in an increase in the allowance for loan and lease losses through provision expense. FHN did not report PCI loans as nonperforming loans due to the accretion of interest income. Additionally, PCI loans that had been pooled and subsequently modified were not reported as troubled debt restructurings since the pool was the unit of measurement. Subsequent to 2019, PCI loans have transitioned to purchased-credit-deteriorated status and are accounted for as discussed above. Allowance for Credit Losses. The nature of the process by which FHN determines the appropriate ACL requires the exercise of considerable judgment. See Note 5 - Allowance for Credit Losses for a discussion of FHN’s ACL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. The discussion herein reflects periods before and after the implementation of a change in credit loss estimation processes that was effective January 1, 2020. Future adjustments to the ACL may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. Subsequent to 2019 Management's estimate of expected credit losses in the loan and lease portfolio is recorded in the ALLL and the reserve for unfunded lending commitments, collectively the ACL. The ACL is maintained at a level that management determines is sufficient to absorb current expected credit losses in the loan and lease portfolio and unfunded lending commitments. Management uses analytical models to estimate expected credit losses in the loan and lease portfolio and unfunded lending commitments as of the balance sheet date. The models are carefully reviewed to identify trends that may not be captured in the modeled loss estimates. Management uses qualitative adjustments for those items not reflected in the modeled loss information such as recent changes from the macroeconomic forecasts utilized in model calculations, results of additional stressed modeling scenarios, observed and/or expected changes affecting borrowers in specific industries or geographic areas, exposure to large lending relationships and expected recoveries of prior charge offs. Qualitative adjustments are also used to accommodate for the imprecision of certain assumptions and uncertainties inherent in the model calculations as well as to align certain differences in models used by acquired loan portfolios to the policies described herein. Loans accounted for at elected fair value are excluded from CECL measurements. The ALLL is increased by the provision for loan and lease losses and is decreased by loan charge-offs. The ALLL is determined in accordance with ASC 326-20 "Financial Instruments - Credit Losses". Credit loss estimation is based on the amortized cost of loans, which includes the following: 1. Unpaid principal balance for originated assets or acquisition price for purchased assets 2. Accrued interest (see elections discussed previously) 3. Accretion or amortization of premium, discount, and net deferred fees or costs 4. Collection of cash 5. Charge-offs Premiums, discounts and net deferred origination costs/fees affect the calculated amount of expected credit losses but they are not considered when determining the amount of expected credit losses that are recorded. Under CECL, a loan must be pooled when it shares similar risk characteristics with other loans. Loans that do not share similar risk characteristics are evaluated individually. Expected credit loss is estimated for the remaining life of loan(s), which is limited to the remaining contractual term(s), adjusted for prepayment estimates, which are included as separate inputs into modeled loss estimates. Renewals and extensions are not anticipated unless they are included in existing loan documentation and are not unconditionally cancellable by the lender. However, losses are estimated over the estimated remaining life of reasonably expected TDRs which can extend beyond the current remaining contractual term. Management has developed multiple current expected credit losses models which segment the loan and lease portfolio by borrower type and loan or lease type to estimate expected lifetime expected credit losses for loans and leases that share similar risk characteristics. Estimates of expected credit losses incorporate consideration of available information that is relevant to assessing the collectability of future cash flows. This includes internal and external information relating to past events, current conditions and reasonable and supportable forecasts of future conditions. FHN utilizes internal and external historical loss information, as applicable, for all available historical periods as the initial point for estimating expected credit losses. Given the duration of historical information available, FHN considers its internal loss history to fully incorporate the effects of prior credit cycles. The historical loss information may be adjusted in situations where current loan characteristics (e.g., underwriting criteria) differ from those in existence at the time the historical losses occurred. Historical loss information is also adjusted for differences in economic conditions, macroeconomic forecasts and other factors management considers relevant over a period extending beyond the measurement date which is considered reasonable and supportable. FHN generally measures expected credit losses using undiscounted cash flow methodologies. Credit enhancements (e.g., guarantors) that are not freestanding are considered in the estimation of uncollectible cash flows. Estimation of expected credit losses for loan agreements involving collateral maintenance provisions include consideration of the value of the collateral and replenishment requirements, with the maximum loss limited to the difference between the amortized cost of the loan and the fair value of the collateral. Expected credit losses for loans for which foreclosure is probable are measured at the fair value of collateral, less estimated costs to sell when disposition through sale is anticipated. Additionally, for borrowers experiencing financial difficulty certain loans are valued at the fair value of collateral when repayment is expected to be provided substantially through the operation of the collateral. The fair value of the collateral is reduced for estimated costs to sell when repayment is expected through sale of the collateral. Expected credit losses for TDRs are measured in accordance with ASC 310-40, which generally requires a discounted cash flow methodology, whereby the loans are measured based on the present value of expected future payments discounted at the loan’s original effective interest rate. Expected recoveries of previously charged-off amounts are also included as a qualitative adjustment in the estimation of expected credit losses, which reduces the amount of the allowance recognized. Estimates of recoveries on previously charged-off assets included in the allowance for loan losses do not exceed the aggregate of amounts previously written off and expected to be written off for an individual loan or pool. Since CECL requires the estimation of credit losses for the entire expected life of loans, loss estimates are highly sensitive to changes in macroeconomic forecasts, especially when those forecasts change dramatically in short time periods. Additionally, under CECL credit loss estimates are more likely to increase rapidly in periods of loan growth. Expected credit losses for unfunded commitments are estimated for periods where the commitment is not unconditionally cancellable by FHN. The measurement of expected credit losses for unfunded commitments mirrors that of loans with the additional estimate of future draw rates (timing and amount).The liability for credit losses inherent in lending-related commitments, such as letters of credit and unfunded loan commitments, is included in Other liabilities on the Consolidated Balance Sheets and established through a charge to the provision for credit losses. Prior to 2020 The ALLL was maintained at a level that management determined was sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL was increased by the provision for loan losses and loan recoveries and was decreased by loan charge-offs. The ALLL was determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and was composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous consumer and commercial loans. The reserve factors applied to these pools were an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL included specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management used analytical models to estimate probable incurred losses in the loan portfolio as of the balance sheet date. The models, which were primarily driven by historical losses, were carefully reviewed to identify trends that may not have been captured in the historical loss factors used in the models. Management used qualitative adjustments for those items not yet captured in the models like then-current events, recent trends in the portfolio, current underwriting guidelines, and local and macroeconomic trends, among other things. Key components of the estimation process were as follows: (1) commercial loans determined by management to be individually impaired loans were evaluated individually and specific reserves were determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired were segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment were calculated based on historical net charge-offs and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflected the reserve rates applied against the balance of loans in the commercial segment of the loan portfolio; (5) consumer loans were generally segmented based on loan type; (6) reserve amounts for each consumer portfolio segment were calculated using analytical models based on delinquency trends and net loss experience and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each consumer portfolio segment reflected management’s estimate of probable incurred losses in the consumer segment of the loan portfolio. Impairment related to individually impaired loans was measured in accordance with ASC 310-10. All commercial portfolio segments, commercial TDRs and other individually impaired commercial loans were measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value (collateral value less estimated costs to sell). Impaired loans also included consumer TDRs.
Nonaccrual and Past Due Loans	Nonaccrual and Past Due Loans. Generally, loans are placed on nonaccrual status if it becomes evident that full collection of principal and interest is at risk, impairment has been recognized as a partial charge-off of principal balance due to insufficient collateral value and past due status, or on a case-by-case basis if FHN continues to receive payments, but there are other borrower-specific issues. • The accrual status policy for commercial TDRs follows the same internal policies and procedures as other commercial portfolio loans. • Residential real estate secured loans discharged in bankruptcy that have not been reaffirmed by the borrower (“discharged bankruptcies”) are placed on nonaccrual regardless of delinquency status and are reported as TDRs. • Current second lien residential real estate loans that are junior to first liens are placed on nonaccrual status if the first lien is 90 or more days past due, is a bankruptcy, or is a troubled debt restructuring. • Consumer real estate (HELOC and residential real estate installment loans), if not already on nonaccrual per above situations, are placed on nonaccrual if the loan is 30 or more days delinquent at the time of modification and is also determined to be a TDR. • Government guaranteed/insured residential mortgage loans remain on accrual (even if the loan falls into one of the above categories) because the collection of principal and interest is reasonably assured. For commercial and consumer loans within each portfolio segment and class that have been placed on nonaccrual status, accrued but uncollected interest is reversed and charged against interest income when the loan is placed on nonaccrual status. Management may elect to continue the accrual of interest when the estimated net realizable value of collateral is sufficient to recover the principal balance and accrued interest. Interest payments received on nonaccrual loans are normally applied to outstanding principal first. Once all principal has been received, additional interest payments are recognized on a cash basis as interest income. Generally, commercial and consumer loans within each portfolio segment and class that have been placed on nonaccrual status can be returned to accrual status if all principal and interest is current and FHN expects full repayment of the remaining contractual principal and interest. This typically requires that a borrower make payments in accordance with the contractual terms for a sustained period of time (generally for a minimum of six months) before being returned to accrual status. For TDRs, FHN may also consider a borrower’s sustained historical repayment performance for a reasonable time prior to the restructuring in assessing whether the borrower can meet the restructured terms, as it may indicate whether the borrower is capable of servicing the level of debt under the modified terms. Residential real estate loans discharged through Chapter 7 bankruptcy and not reaffirmed by the borrower are not returned to accrual status. For current second liens that have been placed on nonaccrual because the first lien is 90 or more days past due or is a TDR or bankruptcy, the second lien may be returned to accrual upon pay-off or cure of the first lien.
Charge-offs	Charge-offs. For all commercial and consumer loan portfolio segments, all losses of principal are charged to the ALLL in the period in which the loan is deemed to be uncollectible. For consumer loans, the timing of a full or partial charge-off generally depends on the loan type and delinquency status. Generally, for the consumer real estate and permanent mortgage portfolio segments, a loan will be either partially or fully charged-off when it becomes 180 days past due. At this time, if the collateral value does not support foreclosure, balances are fully charged-off and other avenues of recovery are pursued. If the collateral value supports foreclosure, the loan is charged-down to net realizable value (collateral value less estimated costs to sell) and is placed on nonaccrual status. For residential real estate loans discharged in Chapter 7 bankruptcy and not reaffirmed by the borrower, the fair value of the collateral position is assessed at the time FHN is made aware of the discharge and the loan is charged down to the net realizable value (collateral value less estimated costs to sell). Within the credit card and other portfolio segment, credit cards and installment loans secured by automobiles are normally charged-off upon reaching 180 days past due while other non-real estate consumer loans are charged-off upon reaching 120 days past due. For acquired PCD loans where all or a portion of the loan balance had been charged off prior to acquisition, and for which active collection efforts are still underway, the ALLL recorded at acquisition is immediately charged off if required by FHN’s existing charge off policy. Additionally, FHN is required to consider its existing policies in determining whether to charge off any financial assets, regardless of whether a charge-off was recorded by the predecessor company. The initial ALLL recognized on PCD assets includes the gross-up of the loan balance reduced by immediate charge-offs for loans previously charged off by the predecessor company or which meet FHN’s charge-off policy on the date of acquisition. Charge-
Allowance for Credit Losses	Allowance for Credit Losses. The nature of the process by which FHN determines the appropriate ACL requires the exercise of considerable judgment. See Note 5 - Allowance for Credit Losses for a discussion of FHN’s ACL methodology and a description of the models utilized in the estimation process for the commercial and consumer loan portfolios. The discussion herein reflects periods before and after the implementation of a change in credit loss estimation processes that was effective January 1, 2020. Future adjustments to the ACL may be necessary if economic or other conditions differ substantially from the assumptions used in making the estimates or, if required by regulators, based upon information at the time of their examinations or upon future regulatory guidance. Such adjustments to original estimates, as necessary, are made in the period in which these factors and other relevant considerations indicate that loss levels vary from previous estimates. Subsequent to 2019 Management's estimate of expected credit losses in the loan and lease portfolio is recorded in the ALLL and the reserve for unfunded lending commitments, collectively the ACL. The ACL is maintained at a level that management determines is sufficient to absorb current expected credit losses in the loan and lease portfolio and unfunded lending commitments. Management uses analytical models to estimate expected credit losses in the loan and lease portfolio and unfunded lending commitments as of the balance sheet date. The models are carefully reviewed to identify trends that may not be captured in the modeled loss estimates. Management uses qualitative adjustments for those items not reflected in the modeled loss information such as recent changes from the macroeconomic forecasts utilized in model calculations, results of additional stressed modeling scenarios, observed and/or expected changes affecting borrowers in specific industries or geographic areas, exposure to large lending relationships and expected recoveries of prior charge offs. Qualitative adjustments are also used to accommodate for the imprecision of certain assumptions and uncertainties inherent in the model calculations as well as to align certain differences in models used by acquired loan portfolios to the policies described herein. Loans accounted for at elected fair value are excluded from CECL measurements. The ALLL is increased by the provision for loan and lease losses and is decreased by loan charge-offs. The ALLL is determined in accordance with ASC 326-20 "Financial Instruments - Credit Losses". Credit loss estimation is based on the amortized cost of loans, which includes the following: 1. Unpaid principal balance for originated assets or acquisition price for purchased assets 2. Accrued interest (see elections discussed previously) 3. Accretion or amortization of premium, discount, and net deferred fees or costs 4. Collection of cash 5. Charge-offs Premiums, discounts and net deferred origination costs/fees affect the calculated amount of expected credit losses but they are not considered when determining the amount of expected credit losses that are recorded. Under CECL, a loan must be pooled when it shares similar risk characteristics with other loans. Loans that do not share similar risk characteristics are evaluated individually. Expected credit loss is estimated for the remaining life of loan(s), which is limited to the remaining contractual term(s), adjusted for prepayment estimates, which are included as separate inputs into modeled loss estimates. Renewals and extensions are not anticipated unless they are included in existing loan documentation and are not unconditionally cancellable by the lender. However, losses are estimated over the estimated remaining life of reasonably expected TDRs which can extend beyond the current remaining contractual term. Management has developed multiple current expected credit losses models which segment the loan and lease portfolio by borrower type and loan or lease type to estimate expected lifetime expected credit losses for loans and leases that share similar risk characteristics. Estimates of expected credit losses incorporate consideration of available information that is relevant to assessing the collectability of future cash flows. This includes internal and external information relating to past events, current conditions and reasonable and supportable forecasts of future conditions. FHN utilizes internal and external historical loss information, as applicable, for all available historical periods as the initial point for estimating expected credit losses. Given the duration of historical information available, FHN considers its internal loss history to fully incorporate the effects of prior credit cycles. The historical loss information may be adjusted in situations where current loan characteristics (e.g., underwriting criteria) differ from those in existence at the time the historical losses occurred. Historical loss information is also adjusted for differences in economic conditions, macroeconomic forecasts and other factors management considers relevant over a period extending beyond the measurement date which is considered reasonable and supportable. FHN generally measures expected credit losses using undiscounted cash flow methodologies. Credit enhancements (e.g., guarantors) that are not freestanding are considered in the estimation of uncollectible cash flows. Estimation of expected credit losses for loan agreements involving collateral maintenance provisions include consideration of the value of the collateral and replenishment requirements, with the maximum loss limited to the difference between the amortized cost of the loan and the fair value of the collateral. Expected credit losses for loans for which foreclosure is probable are measured at the fair value of collateral, less estimated costs to sell when disposition through sale is anticipated. Additionally, for borrowers experiencing financial difficulty certain loans are valued at the fair value of collateral when repayment is expected to be provided substantially through the operation of the collateral. The fair value of the collateral is reduced for estimated costs to sell when repayment is expected through sale of the collateral. Expected credit losses for TDRs are measured in accordance with ASC 310-40, which generally requires a discounted cash flow methodology, whereby the loans are measured based on the present value of expected future payments discounted at the loan’s original effective interest rate. Expected recoveries of previously charged-off amounts are also included as a qualitative adjustment in the estimation of expected credit losses, which reduces the amount of the allowance recognized. Estimates of recoveries on previously charged-off assets included in the allowance for loan losses do not exceed the aggregate of amounts previously written off and expected to be written off for an individual loan or pool. Since CECL requires the estimation of credit losses for the entire expected life of loans, loss estimates are highly sensitive to changes in macroeconomic forecasts, especially when those forecasts change dramatically in short time periods. Additionally, under CECL credit loss estimates are more likely to increase rapidly in periods of loan growth. Expected credit losses for unfunded commitments are estimated for periods where the commitment is not unconditionally cancellable by FHN. The measurement of expected credit losses for unfunded commitments mirrors that of loans with the additional estimate of future draw rates (timing and amount).The liability for credit losses inherent in lending-related commitments, such as letters of credit and unfunded loan commitments, is included in Other liabilities on the Consolidated Balance Sheets and established through a charge to the provision for credit losses. Prior to 2020 The ALLL was maintained at a level that management determined was sufficient to absorb estimated probable incurred losses in the loan portfolio. The ALLL was increased by the provision for loan losses and loan recoveries and was decreased by loan charge-offs. The ALLL was determined in accordance with ASC 450-20-50 "Contingencies - Accruals for Loss Contingencies" and was composed of reserves for commercial loans evaluated based on pools of credit graded loans and reserves for pools of smaller-balance homogeneous consumer and commercial loans. The reserve factors applied to these pools were an estimate of probable incurred losses based on management’s evaluation of historical net losses from loans with similar characteristics. Additionally, the ALLL included specific reserves established in accordance with ASC 310-10-35 for loans determined by management to be individually impaired as well as reserves associated with PCI loans. Management used analytical models to estimate probable incurred losses in the loan portfolio as of the balance sheet date. The models, which were primarily driven by historical losses, were carefully reviewed to identify trends that may not have been captured in the historical loss factors used in the models. Management used qualitative adjustments for those items not yet captured in the models like then-current events, recent trends in the portfolio, current underwriting guidelines, and local and macroeconomic trends, among other things. Key components of the estimation process were as follows: (1) commercial loans determined by management to be individually impaired loans were evaluated individually and specific reserves were determined based on the difference between the outstanding loan amount and the estimated net realizable value of the collateral (if collateral dependent), the present value of expected future cash flows or by observable market prices; (2) individual commercial loans not considered to be individually impaired were segmented based on similar credit risk characteristics and evaluated on a pool basis; (3) reserve rates for the commercial segment were calculated based on historical net charge-offs and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); (4) management’s estimate of probable incurred losses reflected the reserve rates applied against the balance of loans in the commercial segment of the loan portfolio; (5) consumer loans were generally segmented based on loan type; (6) reserve amounts for each consumer portfolio segment were calculated using analytical models based on delinquency trends and net loss experience and were subject to adjustment by management to reflect current events, trends, and conditions (including economic considerations and trends); and (7) the reserve amount for each consumer portfolio segment reflected management’s estimate of probable incurred losses in the consumer segment of the loan portfolio. Impairment related to individually impaired loans was measured in accordance with ASC 310-10. All commercial portfolio segments, commercial TDRs and other individually impaired commercial loans were measured based on the present value of expected future payments discounted at the loan’s effective interest rate (“the DCF method”), observable market prices, or for loans that are solely dependent on the collateral for repayment, the net realizable value (collateral value less estimated costs to sell). Impaired loans also included consumer TDRs.
Premises and Equipment	Premises and Equipment. Premises and equipment are carried at cost less accumulated depreciation and amortization and include additions that materially extend the useful lives of existing premises and equipment. All other maintenance and repair expenditures are expensed as incurred. Premises and equipment held for sale are generally valued at appraised values which reference recent disposition values for similar property types but also consider marketability discounts for vacant properties. The valuations of premises and equipment held for sale are reduced by estimated costs to sell. Impairments, and any subsequent recoveries, are recorded in noninterest expense. Gains and losses on dispositions are reflected in noninterest income and expense, respectively.
Other Real Estate Owned (OREO)	Other Real Estate Owned. Real estate acquired by foreclosure or other real estate-owned consists of properties that have been acquired in satisfaction of debt. These properties are carried at the lower of the outstanding loan amount or estimated fair value less estimated costs to sell the real estate. At the time acquired, and in conjunction with the transfer from loans to OREO, there is a charge-off against the ALLL if the estimated fair value less costs to sell is less than the loan’s cost basis. Subsequent declines in fair value and gains or losses on dispositions, if any, are charged to other expense on the Consolidated Statements of Income. Properties acquired by foreclosure in compliance with HUD servicing guidelines prior to January 1, 2015, are included in OREO and are carried at the estimated amount of the underlying government insurance or guarantee. Required developmental costs associated with acquired property under construction are capitalized and included in determining the estimated net realizable value of the property, which is reviewed periodically, and any write-downs are charged against current earnings.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets. Goodwill represents the excess of cost over net assets of acquired businesses less identifiable intangible assets. On an annual basis, or more frequently if necessary, FHN assesses goodwill for impairment. Other intangible assets primarily represent client lists and relationships, acquired contracts, covenants not to compete and premium on purchased deposits, which are amortized over their estimated useful lives. Intangible assets related to acquired deposit bases are primarily amortized over 10 years using an accelerated method. Management evaluates whether events or circumstances have occurred that indicate the remaining useful life or carrying value of amortizing intangibles should be revised. Other intangibles also include smaller amounts of non-amortizing intangibles for title plant and state banking licenses.
Servicing Rights and Transfers of Financial Assets	Servicing Rights . FHN recognizes the rights to service mortgage and other loans as separate assets, which are recorded in other assets in the Consolidated Balance Sheets, when purchased or when servicing is contractually separated from the underlying loans by sale with servicing rights retained. For loan sales with servicing retained, a servicing right, generally an asset, is recorded at fair value at the time of sale for the right to service the loans sold. All servicing rights are identified by class and amortized over the remaining life of the loan with periodic reviews for impairment. Transfers of Financial Assets. Transfers of financial assets, or portions thereof which meet the definition of a participating interest, are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when 1) the assets have been legally isolated from FHN, 2) the transferee has the right to pledge or exchange the assets with no conditions that
Derivative Financial Instruments	Derivative Financial Instruments. FHN accounts for derivative financial instruments in accordance with ASC 815 which requires recognition of all derivative instruments on the balance sheet as either an asset or liability measured at fair value through adjustments to either accumulated other comprehensive income within shareholders’ equity or current earnings. Fair value is defined as the price that would be received to sell a derivative asset or paid to transfer a derivative liability in an orderly transaction between market participants on the transaction date. Fair value is determined using available market information and appropriate valuation methodologies. FHN has elected to present its derivative assets and liabilities gross on the Consolidated Balance Sheets. Amounts of collateral posted or received have not been netted with the related derivatives unless the collateral amounts are considered legal settlements of the related derivative positions. See Note 22 - Derivatives for discussion on netting of derivatives. FHN prepares written hedge documentation, identifying the risk management objective and designating the derivative instrument as a fair value hedge or cash flow hedge as applicable, or as a free-standing derivative instrument entered into as an economic hedge or to meet clients’ needs. All transactions designated as ASC 815 hedges must be assessed at inception and on an ongoing basis as to the effectiveness of the derivative instrument in offsetting changes in fair value or cash flows of the hedged item. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk are recognized currently in earnings. For a cash flow hedge, changes in the fair value of the derivative instrument are recorded in accumulated other comprehensive income and subsequently reclassified to earnings as the hedged transaction impacts net income. For fair value hedges, the entire change in the fair value of the hedging instrument included in the assessment of effectiveness is recorded to the same financial statement line item (e.g., interest expense) used to present the earnings effect of the hedged item. For cash flow hedges, the entire fair value change of the hedging instrument that is included in the assessment of hedge effectiveness is initially recorded in other comprehensive income and later recycled into earnings as the hedged transaction(s) affect net income with the income statement effects recorded in the same financial statement line item used to present the earnings effect of the hedged item (e.g., interest income). For free-standing derivative instruments, changes in fair values are recognized currently in earnings. See Note 22 - Derivatives for additional information. Cash flows from derivative contracts are reported as operating activities on the Consolidated Statements of Cash Flows.
Leases, Lessee	Leases. At inception, all arrangements are evaluated to determine if they contain a lease, which is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Control is deemed to exist when a lessor has granted and a lessee has received both the right to obtain substantially all of the economic benefits from use of the identified asset and the right to direct the use of the identified asset throughout the period of use. Lessee. As a lessee, FHN recognizes lease (right-of-use) assets and lease liabilities for all leasing arrangements with lease terms that are greater than one year. The lease asset and lease liability are recognized at the present value of estimated future lease payments, including estimated renewal periods, with the discount rate reflecting a fully-collateralized rate matching the estimated lease term. Renewal options are included in the estimated lease term if they are considered reasonably certain of exercise. Periods covered by termination options are included in the lease term if it is reasonably certain they will not be exercised. Additionally, prepaid or accrued lease payments, lease incentives and initial direct costs related to lease arrangements are recognized within the right-of-use asset. Each lease is classified as a financing or operating lease which depends on the relationship of the lessee’s rights to the economic value of the leased asset. For finance leases, interest on the lease liability is recognized separately from amortization of the right-of-use asset in earnings, resulting in higher expense in the earlier portion of the lease term. For operating leases, a single lease cost is calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis. Substantially all of FHN’s lessee arrangements are classified as operating leases. For leases with a term of 12 months or less, FHN does not to recognize lease assets and lease liabilities and expense is generally recognized on a straight-line basis over the lease term. Lease assumptions and classification are reassessed upon the occurrence of events that result in changes to the estimated lease term or consideration. Modifications to lease contracts are evaluated to determine 1) if a right to use an additional asset has been obtained, 2) if only the lease term and/or consideration have been revised or 3) if a full or partial termination has occurred. If an additional right-of use-asset has been obtained, the modification is treated as a separate contract and its classification is evaluated as a new lease arrangement. If only the lease term or consideration are changed, the lease liability is revalued with an offset to the lease asset and the lease classification is re-assessed. If a modification results in a full or partial termination of the lease, the lease liability is revalued through earnings along with a proportionate reduction in the value of the related lease asset and subsequent expense recognition is similar to a new lease arrangement. Lease assets are evaluated for impairment when triggering events occur, such as a change in management intent regarding the continued occupation of the leased space. If a lease asset is impaired, it is written down to the present value of estimated future cash flows and the prospective expense recognition for that lease follows the accelerated expense recognition methodology applicable to finance leases, even if it remains classified as an operating lease. Sublease arrangements are accounted for consistent with the lessor accounting described below. Sublease arrangements are evaluated to determine if changes to estimates for the primary lease are warranted or if the sublease terms reflect impairment of the related lease asset.
Leases, Lessor	Lessor. As a lessor, FHN also evaluates its lease arrangements to determine whether a finance lease or an operating lease exists and utilizes the rate implicit in the lease arrangement as the discount rate to calculate the present value of future cash flows. Depending upon the terms of the individual agreements, finance leases represent either sales-type or direct financing leases, both of which require de-recognition of the asset being leased with offsetting recognition of a lease receivable that is evaluated for impairment similar to loans. Other than equipment lease entered into as part of commercial lease financing arrangements, all of FHN's lessor arrangements are considered operating leases. Lease income for operating leases is recognized over the life of the lease, generally on a straight line basis. Lease incentives and initial direct costs are capitalized and amortized over the estimated life of the lease. Lease income is not significant for any reporting periods and is classified as a reduction of Occupancy expense in the Consolidated Statements of Income.
Investment Tax Credit	Investment Tax Credit . In conjunction with the IBKC merger, FHN has elected to utilize the deferral method for acquired investments that generate investment tax credits. This includes both solar and historic tax credit investments. Under this approach the investment tax credits are recorded as an offset to the related investment on the balance sheet. Credit amounts are recognized in earnings over the life of the investment within the same income or expense accounts as used for the investment.
Advertising and Public Relations	Advertising and Public Relations. Advertising and public relations costs are generally expensed as incurred.
Income Taxes	Income Taxes. FHN accounts for income taxes using the asset and liability method pursuant to ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, FHN’s deferred tax assets and liabilities are determined based on differences between financial statement carrying amounts and the corresponding tax basis of certain assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. Additionally, DTAs are subject to a “more likely than not” test to determine whether the full amount of the DTAs should be recognized in the financial statements. FHN evaluates the likelihood of realization of the DTA based on both positive and negative evidence available at the time, including (as appropriate) scheduled reversals of DTLs, projected future taxable income, tax planning strategies, and recent financial performance. If the “more likely than not” test is not met, a valuation allowance must be established against the DTA. In the event FHN determines that DTAs are realizable in the future in excess of their net recorded amount, FHN would make an adjustment to the valuation allowance, which would reduce income tax expense. FHN records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) it is determined whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority is recognized. FHN's ASC 740 policy is to recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. Accrued interest and penalties are included within the related tax asset/liability line in the consolidated balance sheet.
Earnings per Share	Earnings per Share. Earnings per share is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding for each period. Diluted earnings per share in net income periods is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding adjusted to include the number of additional common shares that would have been outstanding if the potential dilutive common shares resulting from performance shares and units, restricted shares and units, and options granted under FHN’s equity compensation plans and deferred compensation arrangements had been issued. FHN utilizes the treasury stock method in this calculation. Diluted earnings per share does not reflect an adjustment for potentially dilutive shares in periods in which a net loss available to common shareholders exists.
Equity Compensation	Equity Compensation. FHN accounts for its employee stock-based compensation plans using the grant date fair value of an award to determine the expense to be recognized over the life of the award. Stock options are valued using an option-pricing model, such as Black-Scholes. Restricted and performance shares and share units are valued at the stock price on the grant date. Awards with post-vesting transfer restrictions are discounted using models that reflect market considerations for illiquidity. For awards with service vesting criteria, expense is recognized using the straight-line method over the requisite service period (generally the vesting period). Forfeitures are recognized when they occur. For awards vesting based on a performance measure, anticipated performance is projected to determine the number of awards expected to vest, and the corresponding aggregate expense is adjusted to reflect the elapsed portion of the performance period. If a performance period extends beyond the required service term, total expense is adjusted for changes in estimated achievement through the end of the performance period. Some performance awards include a total shareholder return modifier (“TSR Modifier”) that operates after determination of the performance criteria, affecting only the quantity of awards issued if the minimum performance threshold is attained. The effect of the TSR Modifier is included in the grant date fair value of the related performance awards using a Monte Carlo valuation technique. The fair value of equity awards with cash payout requirements, as well as awards for which fair value cannot be estimated at grant date, is remeasured each reporting period through vesting date. Performance awards with pre-grant date achievement criteria are expensed over the period from the start of the performance period through the end of the service vesting term. Awards are amortized using the nonsubstantive vesting methodology which requires that expense associated with awards having only service vesting criteria that continue vesting after retirement be recognized over a period ending no later than an employee’s retirement eligibility date. As a result of the IBKC merger, as of July 1, 2020, FHN assumed phantom stock awards under various plans to directors, officers, and other key employees. Phantom stock awards are accounted for as liability awards and are remeasured at each reporting period based on changes in their fair value, which is based on changes in common share prices, until the date of settlement. Compensation cost for each reporting period until settlement is based on the change (or a portion of the change, depending on the percentage of the requisite service that has been rendered at the reporting date) in the fair value of the phantom stock award for each reporting period.
Repurchase and Foreclosure Provision	Repurchase and Foreclosure Provision. The repurchase and foreclosure provision is the charge to earnings necessary to maintain the liability at a level that reflects management’s best estimate of losses associated with the repurchase of loans previously transferred in whole loans sales or securitizations, or make whole requests as of the balance sheet date. See Note 17 - Contingencies and Other Disclosures for discussion related to FHN’s obligations to repurchase such loans.
Legal Costs	Legal Costs. Generally, legal costs are expensed as incurred.Costs related to equity issuances are netted against Capital surplus. Costs related to debt issuances are included in debt issuance costs that are recorded within Term borrowings.
Contingency Accruals	Contingency Accruals. Contingent liabilities arise in the ordinary course of business, including those related to lawsuits, arbitration, mediation, and other forms of litigation. FHN establishes loss contingency liabilities for matters when loss is both probable and reasonably estimable in accordance with ASC 450-20-50 “Contingencies - Accruals for Loss Contingencies”. If loss for a matter is probable and a range of possible loss outcomes is the best estimate available, accounting guidance generally requires a liability to be established at the low end of the range. Expected recoveries from insurance and indemnification arrangements are recognized if they are considered equally as probable and reasonably estimable as the related loss contingency up to the recognized amount of the estimated loss. Gain contingencies and expected recoveries from insurance and indemnification arrangements in excess of the associated recorded estimated losses are generally recognized when received. Recognized recoveries are recorded as offsets to the related expense in the Consolidated Statements of Income. The favorable resolution of a gain contingency generally results in the recognition of other income in the Consolidated Statements of Income. Contingencies assumed in business combinations are evaluated through the end of the one-year post-closing measurement period. If the acquisition-date fair value of the contingency can be determined during the measurement period, recognition occurs as part of the acquisition-date fair value of the acquired business. If the acquisition-date fair value of the contingency cannot be determined, but loss is considered probable as of the acquisition date and can be reasonably estimated within the measurement period, then the estimated amount is recorded within acquisition accounting. If the requirements for inclusion of the contingency as part of the acquisition are not met, subsequent recognition of the contingency is included in earnings. Business Combinations Assets and liabilities acquired in business combinations are generally recognized at their fair values as of the acquisition date, with the related transaction costs expensed in the period incurred. Specified items such as net investment in leases as lessor, acquired operating lease assets and liabilities as lessee, employee benefit plans and income-tax related balances are recognized in accordance with accounting guidance that results in measurements that may differ from fair value. FHN may record provisional amounts at the time of acquisition based on available information. The provisional valuation estimates may be adjusted for a period of up to one year (“measurement period”) from the date of acquisition if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. Adjustments recorded during the measurement period are recognized in the current reporting period. The excess of purchase price over the valuation of specifically identified assets and liabilities is recorded as goodwill. In certain circumstances the net values of assets and liabilities acquired may exceed the purchase price, which is recognized within non-interest income as a purchase accounting gain.
Summary of Accounting Changes and Accounting Changes Issued but Not Currently Effective	Summary of Accounting Changes. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” which revises the measurement and recognition of credit losses for assets measured at amortized cost (e.g., HTM loans and debt securities) and AFS debt securities. Under ASU 2016-13, for assets measured at amortized cost, the current expected credit loss (CECL) is measured as the difference between amortized cost and the net amount expected to be collected. This represents a departure from prior GAAP as the “incurred loss” methodology for recognizing credit losses delayed recognition until it was probable a loss had been incurred. Under CECL the full amount of expected credit losses will be recognized at the time of loan origination. The measurement of current expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Additionally, current disclosures of credit quality indicators in relation to the amortized cost of financing receivables are further disaggregated by year of origination. ASU 2016-13 leaves the methodology for measuring credit losses on AFS debt securities largely unchanged,with the maximum credit loss representing the difference between amortized cost and fair value. However, such credit losses are recognized through an allowance for credit losses, which permits recovery of previously recognized credit losses if circumstances change. ASU 2016-13 also revises the recognition of credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (“PCD assets”). For PCD assets, the initial allowance for credit losses is added to the purchase price. Only subsequent changes in the allowance for credit losses are recorded as a credit loss expense for PCD assets. Interest income for PCD assets is recognized based on the effective interest rate, excluding the discount embedded in the purchase price that is attributable to the acquirer’s assessment of credit losses at acquisition. Previously, credit losses for purchased credit-impaired assets were included in the initial basis of the assets with subsequent declines in credit resulting in expense while subsequent improvements in credit were reflected as an increase in the future yield from the assets. For non-PCD assets, expected credit losses are recognized through earnings upon acquisition and the entire premium or discount accreted to interest income over the remaining life of the loan. Credit allowances for acquired non-PCD assets are established through immediate recognition of credit loss expense (similar to originated loans) and do not consider purchase discounts related to estimated credit losses. The provisions of ASU 2016-13 were generally adopted through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in the year of adoption. Prospective implementation was required for debt securities for which an other-than-temporary-impairment (“OTTI”) had been previously recognized. Amounts previously recognized in accumulated other comprehensive income (“AOCI”) as of the date of adoption that relate to improvements in cash flows expected to be collected continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption are recorded in earnings when received. A prospective transition approach was used for existing PCD assets where, upon adoption, the amortized cost basis was increased to offset the initial recognition of the allowance for credit losses. Thus, an entity was not required to reassess its purchased financial assets that existed as of the date of adoption to determine whether they would have met at acquisition the new criteria of more-than-insignificant credit deterioration since origination. An entity accretes the remaining noncredit discount (based on the revised amortized cost basis) into interest income at the effective interest rate at the adoption date. ASU 2016-13 was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. FHN’s most significant implementation activities included review of loan portfolio segments and classes, identification and evaluation of collateral dependent loans and loans secured by collateral replenishment arrangements, selection of measurement methodologies and related model development, data accumulation and verification, development of loan life estimates, identification of reasonable and supportable forecast periods, selection of time lines and methods for reversion to unadjusted historical information, multiple preliminary analysis including parallel runs against existing loan loss estimation processes, and design and evaluation of internal controls over the new estimation processes. FHN utilizes undiscounted cash flow methods for loans except for troubled debt restructurings, which require use of discounted cash flow methodologies. A significant portion of the adoption impact for ASU 2016-13 relates to increased reserves within the consumer portfolios, given the longer contractual maturities associated with many of these products as well as increased reserves for acquired loans that previously considered purchase discounts. Based on its implementation efforts, FHN recorded the following adoption adjustments effective January 1, 2020. (Dollars in millions) January 1, 2020 Loans and leases (a) $ 3 Allowance for loan and lease losses (107) Other assets (deferred taxes) 32 Total assets $ (72) Other liabilities (unfunded commitments) $ 24 Retained earnings (96) Total liabilities and equity $ (72) (a) The effect on loans represents the increase in amortized cost for recognition of the allowance for credit losses on PCD loans. FHN also assessed several asset classes other than loans that are within the scope of CECL and determined that the adoption effects for the change in measurement of credit risk were minimal for these classes. This includes Fed funds sold which have no history of credit losses due to their short (typically overnight) duration and counterparty risk assessment processes. This also includes securities borrowed and securities purchased under agreements to resell which have collateral maintenance agreements that incorporate master netting provisions resulting in minimal uncollateralized positions as of any date as evidenced by the disclosures provided in Note 23 - Master Netting and Similar Agreements-Repurchase, Reverse Repurchase, and Securities Borrowing Transactions. Additionally, FHN also evaluated the composition of its AFS securities and determined that the changes in ASU 2016-13 did not have an effect on the current portfolio. In April 2019, the FASB issued ASU 2019-04, "Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments," which provides an election to either 1) not measure or 2) measure separately an allowance for credit losses for accrued interest receivable (“AIR"). Entities electing to not measure an allowance for AIR must write off uncollectible interest in a timely manner. Additionally, an election is provided for the write off of uncollectible interest to be recorded either as a reversal of interest income or a charge against the allowance for credit losses or a combination of both. Disclosures are required depending upon which elections are made. ASU 2019-04 also clarifies that when loans and securities are transferred between balance sheet categories (e.g., loans from held-for-investment to held-for-sale or securities from held-to-maturity to available-for-sale) the associated allowance for credit losses should be reversed to income and prospective accounting follows the requirements for the new classification. Further, ASU 2019-04 clarifies that recoveries should be incorporated within the estimation of the allowance for credit losses. Expected recoveries should not exceed the aggregate amount of prior write-offs and expected future write-offs. The inclusion of expected recoveries in the measurement of expected credit losses may result in a negative credit allowance in certain circumstances. Additionally, for collateral dependent financial assets, the allowance for credit losses that is added to the amortized cost basis should not exceed amounts previously written off. ASU 2019-04 also makes several changes when a discounted cash flow approach is used to measure expected credit losses. ASU 2019-04 removes ASU 2016-03’s prohibition of using projections of future interest rate environments when using a discounted cash flow method to measure expected credit losses on variable-rate financial instruments. If an entity uses projections or expectations of future interest rate environments in estimating expected cash flows, the same assumptions should be used in determining the effective interest rate used to discount those expected cash flows. The effective interest rate should also be adjusted to consider the effects of expected prepayments on the timing of expected future cash flows. ASU 2019-04 provides an election to adjust the effective interest rate used in discounting expected cash flows to isolate credit risk in measuring the allowance for credit losses. Further, the discount rate should not be adjusted for subsequent changes in expected prepayments if a financial asset is restructured in a troubled debt restructuring. Related to collateral-dependent financial assets, ASU 2019-04 requires inclusion of estimated costs to sell in the measurement of expected credit losses in situations where the entity intends to sell rather than operate the collateral. Additionally, the estimated costs to sell should be undiscounted when the entity intends to sell rather than operate the collateral. Finally, ASU 2019-04 specifies that contractual renewal or extension options, except those treated as derivatives, should be included in the determination of the contractual term for a financial asset when included in the original or modified contract as of the reporting date if they are not unconditionally cancellable by the entity. The effective date and transition requirements for these components of ASU 2019-04 are consistent with the requirements for ASU 2016-13 and FHN incorporated these changes and revisions within its implementation efforts. Based on its previous existing practices for the timely write off uncollectible AIR, FHN elected to not measure an allowance for credit losses for AIR and to continue recognition of related write-offs as a reversal of interest income. In May 2019, the FASB issued ASU 2019-05, “Financial Instruments - Credit Losses, Targeted Transition Relief,” which provides an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis that are in the scope of ASU 2016-13, applied on an instrument-by-instrument basis. The fair value option election does not apply to HTM debt securities. The effective date and transition requirements for ASU 2019-05 are consistent with the requirements for ASU 2016-13. FHN did not elect to apply the fair value option to any asset classes that are in scope for CECL. In November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses” which clarifies that expected recoveries should be included in the amortized cost basis previously written off or expected to be written off in the valuation allowance for PCD assets. ASU 2019-11 also clarifies that recoveries or expected recoveries of the unamortized noncredit discount or premium should not be included in the allowance for credit losses. ASU 2019-11 provides specific transition relief for existing troubled debt restructurings and extends the disclosure relief of ASU 2019-04 for accrued interest receivable balances to additional relevant disclosures involving amortized cost basis. Related to the assessment of credit risk for collateralized assets, ASU 2019-11 indicates that an entity should assess whether it reasonably expects the borrower will be able to continually replenish collateral securing the financial asset to apply the practical expedient of ASU 2016-13 while also requiring an estimation of expected credit losses for any difference between the amount of the amortized cost basis that is greater than the fair value of the collateral securing the financial asset. The effective date and transition requirements for ASU 2019-11 are consistent with the requirements for ASU 2016-13 and FHN incorporated these changes and revisions within its implementation efforts and the effects are embedded within the adoption effects of ASU 2016-13. Consistent with non-PCD assets, the effect of including recoveries and expected recoveries within the measurement of expected credit losses for PCD assets may result in a negative credit allowance in certain circumstances. On March 22, 2020, The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau issued guidance that interprets, but does not suspend, ASC 310-40 related to the identification of TDRs. Also on that day, the FASB issued a statement indicating that the Interagency Guidance had been developed in consultation with the staff of the FASB who concurred with the approach. The Interagency Guidance indicates that a lender can conclude that a borrower is not experiencing financial difficulty if either 1) short-term (e.g., six months) modifications are made in response to the economic effects of the COVID-19 pandemic, such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant related to loans in which the borrower is less than 30 days past due on its contractual payments at the time a modification program is implemented, or 2) the modification or deferral program is mandated by the federal government or a state government. Accordingly, any loan modification made in response to COVID-19 pandemic that meets either of these practical expedients would not be considered a TDR because the borrower is not experiencing financial difficulty. Consistent with this perspective, financial institutions are generally not expected to designate loans with deferrals granted due to COVID-19 as past due or nonaccrual because of a deferral. On March 27, 2020, the CARES Act was signed into law. The CARES Act provides relief from certain requirements under U.S. GAAP. Section 4013 of the CARES Act provides entities optional temporary relief from the accounting and disclosure requirements for TDRs under ASC 310-40 in certain situations. Section 4013 of the CARES Act permits the suspension of ASC 310-40 for loan modifications that are made by financial institutions in response to the COVID-19 pandemic if 1) the borrower was not more than 30 days past due as of December 31, 2019, and 2) the modifications are related to arrangements that defer or delay the payment of principal or interest, or change the interest rate on the loan. The CARES provisions apply to loan modifications relating to COVID-19 that are made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the national emergency related to COVID-19 ends. On April 3, 2020, the Chief Accountant of the SEC issued a statement indicating that the staff would not object to the conclusion that elective application of the provisions of CARES Act are in accordance with GAAP for the periods that such elections are available. On April 7, 2020, revised Interagency Guidance was issued to reflect the interaction of the CARES Act provisions and the Interagency Guidance, clarifying that the CARES Act guidance can be applied for regulatory purposes. Loan modifications outside the scope of the CARES Act and organizations that elect to not apply the CARES Act guidance should continue to apply ASC 310-40 as interpreted by the Interagency Guidance. On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA) was signed into law. The CAA extends the CARES Act TDR relief provisions to apply to modifications executed between March 1, 2020 and the earlier of (1) 60 days following the date the COVID-19 national emergency comes to an end and (2) January 1, 2022. FHN has evaluated the provisions of the CARES Act and the Interagency Guidance related to loan modification programs instituted as a result of the COVID-19 pandemic. FHN’s programs primarily involve the deferral of principal and interest payments, fee waivers and mortgage modifications required in response to government modification requirements. With the duration of the economic effects from the pandemic continuing, in third quarter 2020, FHN initiated additional modification programs for extensions of certain borrowers which result in total deferral periods exceeding 6 months or temporary conversion of amortizing loans to interest-only status. Accordingly, FHN has applied the provisions of the CARES Act to its most recent modification programs. Accounting Changes With Extended Transition Periods In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which provides several optional expedients and exceptions to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The provisions of ASU 2020-04 primarily affect 1) contract modifications (e.g., loans, leases, debt, and derivatives) made in anticipation that a reference rate (e.g., LIBOR) will be discontinued and 2) the application of hedge accounting for existing relationships affected by those modifications. The provisions of ASU 2020-04 are effective upon release and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by ASU 2020-04 do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. FHN has been identifying contracts affected by reference rate reform and developing modification plans for those contracts. As described below FHN has elected to utilize the optional expedients and exceptions provided by ASU 2020-04 for certain contract modifications made in 2020. FHN anticipates that it will continue to utilize the expedients and exceptions in situations where they mitigate potential accounting outcomes that do not faithfully represent management's intent or risk management activities which is consistent with the purpose of the standard. In January 2021, the FASB issued ASU 2021-01, "Scope" to expand the scope of ASU 2020-04 to apply to certain contract modifications that were implemented in October 2020 by derivative clearinghouses for the use of Secure Overnight Funding Rate (SOFR) in discounting, margining and price alignment for centrally cleared derivatives, including derivatives utilized in hedging relationships. ASU 2021-01 also applies to derivative contracts affected by the change in discounting convention regardless of whether they are centrally cleared (i.e., bi-lateral contracts can also be modified) and regardless of whether they reference LIBOR. ASU 2021-01 was effective immediately upon issuance with retroactive application permitted. FHN elected to retroactively apply the provisions of ASU 2021-01 because its centrally cleared derivatives were affected by the change in discounting convention and because it has other bi-lateral derivative contracts that may be modified to conform to the use of SOFR for discounting. Adoption did not have a significant effect on FHN's reporting financial condition or earnings.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact of Adoption of ASU 2016-13	A significant portion of the adoption impact for ASU 2016-13 relates to increased reserves within the consumer portfolios, given the longer contractual maturities associated with many of these products as well as increased reserves for acquired loans that previously considered purchase discounts. Based on its implementation efforts, FHN recorded the following adoption adjustments effective January 1, 2020. (Dollars in millions) January 1, 2020 Loans and leases (a) $ 3 Allowance for loan and lease losses (107) Other assets (deferred taxes) 32 Total assets $ (72) Other liabilities (unfunded commitments) $ 24 Retained earnings (96) Total liabilities and equity $ (72)

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following schedule details a preliminary allocation of merger consideration to the valuations of the identifiable tangible and intangible assets acquired and liabilities assumed from IBKC as of July 1, 2020. (Dollars in millions) IBERIABANK Corporation Assets: Cash and due from banks $ 395 Interest-bearing deposits with banks 1,683 Securities available for sale at fair value 3,544 Loans held for sale 320 Loans and leases (a) 25,921 Allowance for loan and lease losses (284) Other intangible assets 240 Premises and equipment 311 OREO 9 Other assets 1,153 Total assets acquired $ 33,292 Liabilities: Deposits $ 28,232 Short-term borrowings 209 Term borrowings 1,200 Other liabilities 616 Total liabilities assumed $ 30,257 Net assets acquired $ 3,035 Consideration paid: Consideration for outstanding common stock $ 2,243 Consideration for equity awards 28 Consideration for preferred stock 231 Total consideration paid $ 2,502 Preliminary purchase accounting gain $ (533) (a) Includes $1.3 billion of initial net investments in sales-type and direct financing leases. The following schedule details the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed from Truist Bank as of July 17, 2020. (Dollars in millions) Truist Bank Assets: Cash and due from banks $ 2,202 Loans and leases 423 Allowance for loan and lease losses (2) Other intangible assets 7 Premises and equipment 11 Other assets 27 Total assets acquired $ 2,668 Liabilities: Deposits $ 2,195 Other liabilities 30 Total liabilities assumed $ 2,225 Net assets acquired $ 443 Consideration paid: Cash $ 521 Total consideration paid $ 521 Goodwill $ 78
Business Acquisition, Pro Forma Information	The following table presents pro forma information as if the IBKC transaction occurred on January 1, 2019. The pro forma information does not necessarily reflect the results of operations that would have occurred had the two companies combined on January 1, 2019. Furthermore, cost savings and other business synergies related to the transaction are not reflected in the pro forma amounts. Pro Forma Information for the Years Ended (Dollars in millions) December 31, 2020 December 31, 2019 (a) Net interest income $ 2,247 $ 2,256 Noninterest income 1,071 888 Net income (loss) 677 881 (a) Does not include the impact of CECL which was adopted January 1, 2020.
Schedule of Merger And Integration Expense	Total merger and integration expenses for the IBKC merger recognized for the years ended December 31, 2020 and 2019 are presented in the table below: (Dollars in millions) 2020 2019 Legal and professional fees (a) $ 41 $ 8 Personnel expense (b) 61 3 Contribution expense (c) 20 — Miscellaneous expense (d) 18 — Total IBKC merger expense $ 140 $ 11 (a) Primarily comprised of fees for legal, accounting, and merger consultants. (b) Primarily comprised of fees for severance and retention. (c) Comprised of contribution expense related to the establishment of the Louisiana First Horizon Foundation. (d) Primarily comprised of fees for travel and entertainment, contract employment and other miscellaneous expenses. Total other merger and integration expense recognized for the years ended December 31, 2020 and 2019 are presented in the table below: Years ended December 31, (Dollars in millions) 2020 2019 Legal and professional fees (a) $ 2 $ 11 Personnel expense (b) 6 1 Contract employment and outsourcing (c) 1 — Net occupancy expense (d) 1 1 Miscellaneous expense (e) 4 2 All other expense (f) 6 7 Total $ 20 $ 22 Certain previously reported amounts have been reclassified to agree with current presentation. (a) Primarily comprised of fees for legal, accounting, and merger consultants. (b) Primarily comprised of fees for severance and retention. (c) Primarily relates to fees for temporary assistance for merger and integration activities. (d) Primarily relates to expenses associated with lease exits. (e) Consists of fees for operations services, communications and courier, equipment rentals, depreciation and maintenance, supplies, travel and entertainment, computer software, and advertising and public relations. (f) Primarily relates to contract termination charges, internal technology development costs, costs of shareholder matters and asset impairments, as well as other miscellaneous expenses.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Marketable Securities [Abstract]
Schedule of FHN's Investment Securities	The following tables summarize FHN’s investment securities on December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Amortized Gross Gross Fair Securities available for sale: U.S. treasuries $ 613 $ — $ — $ 613 Government agency issued MBS 3,722 92 (2) 3,812 Government agency issued CMO 2,380 29 (3) 2,406 Other U.S. government agencies 672 12 — 684 Corporate and other debt 40 1 (1) 40 States and municipalities 445 15 — 460 $ 7,872 $ 149 $ (6) 8,015 AFS securities recorded at fair value through earnings: SBA-interest only strips (a) 32 Total securities available for sale (b) $ 8,047 (a) SBA-interest only strips are recorded at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information. (b) Includes $6.4 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes. December 31, 2019 (Dollars in millions) Amortized Gross Gross Fair Securities available for sale: U.S. treasuries $ — $ — $ — $ — Government agency issued MBS 2,316 35 (3) 2,348 Government agency issued CMO 1,668 10 (7) 1,671 Other U.S. government agencies 304 4 (1) 307 Corporate and other debt 40 — — 40 States and municipalities 57 3 — 60 $ 4,385 $ 52 $ (11) 4,426 AFS securities recorded at fair value through earnings: SBA-interest only strips (a) 19 Total securities available for sale (b) $ 4,445 (a) SBA-interest only strips are recorded at elected fair value. See Note 24 - Fair Value of Assets and Liabilities for additional information. (b) Includes $3.8 billion of securities pledged to secure public deposits, securities sold under agreements to repurchase, and for other purposes.
Schedule of Amortized Cost And Fair Value By Contractual Maturity	The amortized cost and fair value by contractual maturity for the available-for-sale debt securities portfolio on December 31, 2020 is provided below: Available for Sale (Dollars in millions) Amortized Fair Within 1 year $ 756 $ 758 After 1 year through 5 years 160 162 After 5 years through 10 years 184 192 After 10 years 670 717 Subtotal 1,770 1,829 Government agency issued MBS and CMO (a) 6,102 6,218 Total $ 7,872 $ 8,047 (a) Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Schedule of Investments Within The Available For Sale Portfolio That Had Unrealized Losses	The following tables provide information on investments within the available-for-sale portfolio that had unrealized losses as of December 31, 2020 and 2019: As of December 31, 2020 Less than 12 months 12 months or longer Total (Dollars in millions) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. treasuries $ 307 $ — $ — $ — $ 307 $ — Government agency issued MBS 426 (2) — — 426 (2) Government agency issued CMO 586 (3) — — 586 (3) Other U.S. government agencies 80 (1) — — 80 (1) States and municipalities 1 — — — 1 — Total $ 1,400 $ (6) $ — $ — $ 1,400 $ (6) As of December 31, 2019 Less than 12 months 12 months or longer Total (Dollars in millions) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Government agency issued MBS $ 175 $ (1) $ 193 $ (2) $ 368 $ (3) Government agency issued CMO 379 (2) 361 (5) 740 (7) Other U.S. government agencies 98 (1) — — 98 (1) States and municipalities 4 — — — 4 — Total $ 656 $ (4) $ 554 $ (7) $ 1,210 $ (11)

Loans and Leases (Tables)

Loans and Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Schedule of Loans by Portfolio Segment	The following table provides the amortized cost basis of loans and leases by portfolio segment and class as of December 31, 2020 and 2019, excluding accrued interest of $180 million and $85 million, respectively, which is included in Other assets in the Consolidated Balance Sheets. December 31, (Dollars in millions) 2020 2019 Commercial: Commercial and industrial (a) (b) $ 27,700 $ 15,640 Loans to mortgage companies 5,404 4,411 Total commercial, financial, and industrial 33,104 20,051 Commercial real estate 12,275 4,337 Consumer: HELOC 2,420 1,287 Real estate installment loans 9,305 4,890 Total consumer real estate 11,725 6,177 Credit card and other 1,128 496 Loans and leases $ 58,232 $ 31,061 Allowance for loan and lease losses (963) (200) Total net loans and leases $ 57,269 $ 30,861 (a) December 31, 2020 balance includes equipment financing leases of $587 million. (b) Includes PPP loans fully guaranteed by the SBA of $4.1 billion as of December 31, 2020.
Financing Receivable Credit Quality Indicators	The following tables provide the amortized cost basis of the commercial loan and lease portfolio by year of origination and credit quality indicator as of December 31, 2020: C&I (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 LMC (a) Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) (c) $ 9,081 $ 5,145 $ 2,640 $ 1,762 $ 1,161 $ 2,163 $ 5,404 $ 4,575 $ 62 $ 31,993 Special Mention (PD grade 13) 89 93 70 31 37 64 — 127 1 512 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 161 70 102 36 42 40 — 91 57 599 Total C&I $ 9,331 $ 5,308 $ 2,812 $ 1,829 $ 1,240 $ 2,267 $ 5,404 $ 4,793 $ 120 $ 33,104 (a) LMC includes non-revolving commercial lines of credit to qualified mortgage companies primarily for the temporary warehousing of eligible mortgage loans prior to the borrower's sale of those mortgage loans to third party investors. The loans are of short duration with maturities less than one year. (b) $50 million of C&I loans were converted from revolving to term in 2020. (c) 2020 balance includes PPP loans. CRE (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving Revolving Total Credit Quality Indicator: Pass (PD grades 1 through 12) $ 2,501 $ 3,311 $ 1,750 $ 1,140 $ 946 $ 1,800 $ 277 $ 19 $ 11,744 Special Mention (PD grade 13) 48 24 117 75 71 54 — — 389 Substandard, Doubtful, or Loss (PD grades 14,15, and 16) 6 13 21 42 27 33 — — 142 Total CRE $ 2,555 $ 3,348 $ 1,888 $ 1,257 $ 1,044 $ 1,887 $ 277 $ 19 $ 12,275 The following tables provide the balances of commercial loan portfolio classes with associated allowance, disaggregated by PD grade as of December 31, 2019: (Dollars in millions) Loans to Total Percentage Allowance PD Grade: Pass (PD grades 1 through 12) $ 15,036 $ 4,411 $ 4,252 $ 23,699 98 % $ 114 Special Mention (PD grade 13) 233 — 34 267 1 8 Substandard, Doubtful, or Loss (PD grades 14, 15, and 16) 263 — 44 307 1 30 Collectively evaluated for impairment 15,532 4,411 4,330 24,273 100 152 Individually evaluated for impairment 82 — 2 84 — 6 Purchased credit-impaired loans 26 — 5 31 — 1 Total commercial loans $ 15,640 $ 4,411 $ 4,337 $ 24,388 100 % $ 159 (a) C&I includes TRUPS loans, which are presented net of a $19 million valuation allowance. Consumer real estate (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving loans Revolving Loans converted to term loans (a) Total FICO score 740 or greater $ 1,186 $ 1,167 $ 703 $ 610 $ 674 $ 1,719 $ 1,275 $ 159 $ 7,493 FICO score 720-739 157 158 100 77 92 197 186 29 996 FICO score 700-719 122 107 78 76 73 221 177 34 888 FICO score 660-699 130 141 123 75 85 296 264 59 1,173 FICO score 620-659 45 61 37 28 35 127 92 36 461 FICO score less than 620 107 36 52 54 95 261 61 48 714 Total $ 1,747 $ 1,670 $ 1,093 $ 920 $ 1,054 $ 2,821 $ 2,055 $ 365 $ 11,725 (a) $36 million of HELOC loans were converted from revolving to term in 2020. The following table reflects the amortized cost basis by year of origination and refreshed FICO scores for credit card and other loans as of December 31, 2020. Credit card and other (Dollars in millions) 2020 2019 2018 2017 2016 Prior to 2016 Revolving loans Revolving Loans converted to term loans Total FICO score 740 or greater $ 57 $ 52 $ 59 $ 37 $ 23 $ 116 $ 159 $ 5 $ 508 FICO score 720-739 7 7 9 8 8 27 91 2 159 FICO score 700-719 9 8 9 8 4 38 37 3 116 FICO score 660-699 30 12 15 9 9 48 46 3 172 FICO score 620-659 5 5 7 5 10 24 20 1 77 FICO score less than 620 14 7 8 11 9 26 20 1 96 Total $ 122 $ 91 $ 107 $ 78 $ 63 $ 279 $ 373 $ 15 $ 1,128 The following table reflects the percentage of balances outstanding by average refreshed FICO scores, for the HELOC and real estate installment classes of loans as of December 31, 2019 : HELOC RE Installment FICO score 740 or greater 62 % 72 % FICO score 720-739 8 8 FICO score 700-719 8 6 FICO score 660-699 11 8 FICO score 620-659 5 3 FICO score less than 620 (a) 6 3 Total 100 % 100 % (a) For this group, a majority of the loan balances had FICO scores at the time of the origination that exceeded 620 but have since deteriorated as the loans have seasoned.
Accruing and Non-Accruing Loans by Class	The following table reflects accruing and non-accruing loans and leases by class on December 31, 2020: Accruing Non-Accruing (Dollars in millions) Current 30-89 90+ Total Current 30-89 90+ Total Total Commercial, financial, and industrial: C&I (a) (b) $ 27,541 $ 15 $ — $ 27,556 $ 88 $ 12 $ 44 $ 144 $ 27,700 Loans to mortgage companies 5,404 — — 5,404 — — — — 5,404 Total commercial, financial, and industrial 32,945 15 — 32,960 88 12 44 144 33,104 Commercial real estate: CRE 12,194 23 — 12,217 10 42 6 58 12,275 Consumer real estate: HELOC 2,336 13 11 2,360 43 3 14 60 2,420 RE installment loans 9,138 40 5 9,183 63 9 50 122 9,305 Total consumer real estate 11,474 53 16 11,543 106 12 64 182 11,725 Credit card and other: Credit card 279 3 1 283 — — — — 283 Other 838 6 — 844 1 — 1 2 845 Total credit card and other 1,117 9 1 1,127 1 — 1 2 1,128 Total loans and leases $ 57,730 $ 100 $ 17 $ 57,847 $ 205 $ 66 $ 115 $ 386 $ 58,232 (a) $101 million of C&I loans are nonaccrual loans that have been specifically reviewed for impairment with no related allowance. (b) C&I loans include TRUPs loans of $210 million, which is net of an amortizing discount of $18 million. The following table reflects accruing and non-accruing loans by class on December 31, 2019: Accruing Non-Accruing (Dollars in millions) Current 30-89 90+ Total Current 30-89 90+ Total Total Commercial, financial, and industrial: C&I (a) $ 15,533 $ 7 $ — $ 15,540 $ 36 $ 14 $ 24 $ 74 $ 15,614 Loans to mortgage companies 4,411 — — 4,411 — — — — 4,411 Purchased credit-impaired loans 24 — 2 26 — — — — 26 Total commercial, financial, and industrial 19,968 7 2 19,977 36 14 24 74 20,051 Commercial real estate: Total commercial real estate 4,329 1 — 4,330 — 1 1 2 4,332 Purchased credit-impaired loans 5 — — 5 — — — — 5 Total commercial real estate 4,334 1 — 4,335 — 1 1 2 4,337 Consumer real estate: HELOC 1,217 9 6 1,232 43 4 8 55 1,287 RE installment loans 4,812 13 9 4,834 21 1 9 31 4,865 Purchased credit-impaired loans 19 3 3 25 — — — — 25 Total consumer real estate 6,048 25 18 6,091 64 5 17 86 6,177 Credit card and other: Credit card 199 1 1 201 — — — — 201 Other 292 2 1 294 — — — — 294 Purchased credit-impaired loans — — — — — — — — 1 Total credit card and other 491 3 2 496 — — — — 496 Total loans $ 30,841 $ 36 $ 22 $ 30,899 $ 100 $ 20 $ 42 $ 162 $ 31,061 Certain previously reported amounts have been reclassified to agree with current presentation. (a) C&I loans include $218 million in TRUPs loans, which are presented net of a valuation allowance of $19 million.
Schedule of Troubled Debt Restructurings Occurring During the Year	The following tables present the end of period balance for loans modified in a TDR during the years ended December 31, 2020 and 2019: 2020 2019 (Dollars in millions) Number Pre-Modification Post-Modification Number Pre-Modification Post-Modification Commercial, financial, and industrial: C&I 112 $ 195 $ 188 4 $ 14 $ 14 Commercial real estate: CRE 19 15 15 — — — Consumer real estate: HELOC 64 5 5 74 8 8 RE installment loans 117 20 19 104 12 12 Total consumer real estate 181 25 24 178 20 20 Credit card and other 56 1 1 85 1 1 Total TDRs 368 $ 236 $ 228 267 $ 35 $ 35 The following tables present TDRs which re-defaulted during 2020 and 2019, and as to which the modification occurred 12 months or less prior to the re-default. For purposes of this disclosure, FHN generally defines payment default as 30 or more days past due. 2020 2019 (Dollars in millions) Number Recorded Number Recorded Commercial, financial, and industrial: C&I 9 $ 1 — $ — Consumer real estate: HELOC 8 — 7 1 RE installment loans 18 1 4 — Total consumer real estate 26 1 11 1 Credit card and other 24 — 32 — Total TDRs 59 $ 2 43 $ 1
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price	For PCD loans acquired or purchased during 2020, a reconciliation of the unpaid principal balance, contractual cash flow owed to FHN at acquisition date, and purchase price is presented in the following table. (Dollars in millions) C&I CRE Consumer Real Estate Credit Card and Other Total Par value (UPB) $ 4,075 $ 6,435 $ 2,394 $ 193 $ 13,097 Allowance for loan and lease losses (138) (100) (44) (5) (287) (Discount) premium (64) 3 (32) — (93) Purchase price $ 3,873 $ 6,338 $ 2,318 $ 188 $ 12,717
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield Movement Schedule Rollforward	The following table presents a rollforward of the accretable yield for the year ended December 31, 2019 and 2018: Year Ended December 31, (Dollars in millions) 2019 2018 Balance, beginning of period $ 13 $ 16 Accretion (6) (10) Adjustment for payoffs (2) (4) Adjustment for charge-offs (1) (1) Increase in accretable yield (a) 6 13 Other — (1) Balance, end of period $ 10 $ 13 (a) Includes changes in the accretable yield due to both transfers from the nonaccretable difference and the impact of changes in the expected timing of the cash flows.
Schedule of Acquired Purchase Credit Impaired Loans by Portfolio Segment	The following table reflects the outstanding principal balance and carrying amounts of the acquired PCI loans as of December 31, 2019: December 31, 2019 (Dollars in millions) Carrying value Unpaid balance Commercial, financial and industrial $ 25 $ 26 Commercial real estate 5 5 Consumer real estate 23 26 Credit card and other 1 1 Total $ 54 $ 58
Information by Class Related to Individually Impaired Loans	The following tables provide additional disclosures previously required by ASC Topic 310 related to FHN's December 31, 2019 balances. Information on impaired loans at December 31, 2019 was as follows: December 31, 2019 (Dollars in millions) Recorded Unpaid Related Average Recorded Interest Impaired loans with no related allowance recorded: Commercial: C&I $ 53 $ 64 $ — $ 61 $ 1 Loans to mortgage companies — — — 9 — CRE 1 1 — 2 — Total $ 54 $ 65 $ — $ 72 $ 1 Consumer: HELOC (a) $ 5 $ 10 $ — $ 7 $ — RE installment loans (a) 7 10 — 8 — Total $ 12 $ 20 $ — $ 15 $ — Impaired loans with related allowance recorded: Commercial: C&I $ 30 $ 32 $ 6 $ 17 $ — Consumer: HELOC $ 56 $ 59 $ 7 $ 61 $ 2 RE installment loans 94 104 13 104 3 Credit card and other 1 1 — 1 — Total $ 151 $ 164 $ 20 $ 166 $ 5 Total commercial $ 84 $ 97 $ 6 $ 89 $ 1 Total consumer $ 163 $ 184 $ 20 $ 181 $ 5 Total impaired loans $ 247 $ 281 $ 26 $ 270 $ 6 (a) All discharged bankruptcy loans are charged down to an estimate of net realizable value and do not carry any allowance.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Rollforward of the Allowance for Loan Losses by Portfolio Segment	The following table provides a rollforward of the allowance for loan and lease losses and the reserve for unfunded lending commitments by portfolio type for December 31, 2020, 2019 and 2018: (Dollars in millions) Commercial, Financial, and Industrial (a) Commercial Consumer Credit Card Total Allowance for loan and lease losses: Balance as of January 1, 2020 $ 123 $ 36 $ 28 $ 13 $ 200 Adoption of ASU 2016-13 19 (7) 93 2 107 Balance as of January 1, 2020, as adjusted 142 29 121 15 307 Charge-offs (b) (129) (5) (8) (14) (156) Recoveries 9 4 18 5 36 Initial allowance on loans purchased with credit deterioration (b) 138 100 44 5 287 Provision for loan and lease losses (c) 293 114 67 15 489 Balance as of December 31, 2020 453 242 242 26 963 Reserve for unfunded lending commitments: Balance as of January 1, 2020 4 2 — — 6 Adoption of ASU 2016-13 17 1 6 — 24 Balance as of January 1, 2020, as adjusted 21 3 6 — 30 Initial reserve on loans acquired 12 26 3 — 41 Provision for unfunded lending commitments 32 (19) 1 — 14 Balance as of December 31, 2020 $ 65 $ 10 $ 10 $ — $ 85 Allowance for loan losses: Balance as of January 1, 2019 $ 99 $ 31 $ 37 $ 13 $ 180 Charge-offs (34) (1) (8) (16) (59) Recoveries 7 1 20 4 32 Provision (provision credit) for loan losses 51 5 (21) 12 47 Balance as of December 31, 2019 123 36 28 13 200 Reserve for unfunded lending commitments: Balance as of January 1, 2019 4 3 — — 7 Provision (provision credit) for unfunded lending commitments — (1) — — (1) Balance as of December 31, 2019 $ 4 $ 2 $ — $ — $ 6 Allowance for loan losses: Balance as of January 1, 2018 $ 98 $ 28 $ 53 $ 10 $ 189 Charge-offs (15) (1) (10) (20) (46) Recoveries 4 1 21 4 30 Provision (provision credit) for loan losses 12 3 (27) 19 7 Balance as of December 31, 2018 99 31 37 13 180 Reserve for unfunded lending commitments: Balance as of January 1, 2018 3 2 — — 5 Provision (provision credit) for unfunded lending commitments 1 1 — — 2 Balance as of December 31, 2018 $ 4 $ 3 $ — $ — $ 7 (a) C&I loans as of December 31, 2020 include $4.1 billion in PPP loans which due to the government guarantee and forgiveness provisions are considered to have no credit risk and therefore have no ALLL. (b) The year ended December 31, 2020 excludes day 1 charge-offs and the related initial allowance on PCD loans is net of these amounts. Under the new CECL standard, the initial ALLL recognized on PCD assets included an additional $237 million for charged-off loans that had been written off prior to acquisition (whether full or partial) or which met FHN's charge-off policy at the time of acquisition. After charging these amounts off immediately upon acquisition, the net impact was $287 million of additional ALLL for PCD loans.

Premises, Equipment, and Leas_2

Premises, Equipment, and Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Summary of Premises and Equipment	Premises and equipment were comprised of the following at December 31, 2020 and 2019: (Dollars in millions) December 31, 2020 December 31, 2019 Land $ 182 $ 99 Buildings 594 429 Leasehold improvements 73 50 Furniture, fixtures, and equipment 269 205 Fixed assets held for sale (a) 18 10 Total premises and equipment 1,136 793 Less accumulated depreciation and amortization (377) (338) Premises and equipment, net $ 759 $ 455
Assets and Liabilities, Lessee	The following table provides a detail of the classification of FHN's right-of-use assets and lease liabilities included in the Consolidated Balance Sheets. (Dollars in millions) December 31, 2020 December 31, 2019 Lease Right-of-Use Assets: Classification Operating lease right-of use assets Other assets $ 367 $ 202 Finance lease right-of use assets Other assets 4 2 Total Lease Right-of Use Assets $ 371 $ 204 Lease Liabilities: Operating lease liabilities Other liabilities $ 407 $ 223 Finance lease liabilities Other liabilities 4 3 Total Lease Liabilities $ 411 $ 226
Components of Lease Expense, Other Information, and Supplemental Cash Flow	The following table details the weighted average remaining lease term and discount rate for FHN's operating and finance leases as of December 31, 2020 and 2019. December 31, 2020 December 31, 2019 Weighted Average Remaining Lease Terms Operating leases 12.49 years 12.36 years Finance leases 11.45 years 9.61 years Weighted Average Discount Rate Operating leases 2.39 % 3.24 % Finance leases 3.05 % 4.77 % The following table provides a detail of the components of lease expense and other lease information for the years ended December 31, 2020 and 2019: (Dollars in millions) 2020 2019 Lease cost Operating lease cost $ 39 $ 25 Sublease income (1) — Total lease cost $ 38 $ 25 Other information (Gain) loss on right-of-use asset impairment - operating leases $ 6 $ 3 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 41 23 Right-of-use assets obtained in exchange for new lease obligations: Operating leases 216 48 Finance leases 2 1
Maturities of Lease Liabilities, Operating	The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of December 31, 2020: (Dollars in millions) December 31, 2020 2021 $ 52 2022 49 2023 44 2024 40 2025 38 2026 and thereafter 257 Total lease payments 480 Less lease liability interest (69) Total $ 411
Maturity of Lease Liabilities, Finance	The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of December 31, 2020: (Dollars in millions) December 31, 2020 2021 $ 52 2022 49 2023 44 2024 40 2025 38 2026 and thereafter 257 Total lease payments 480 Less lease liability interest (69) Total $ 411
Net Investment in Lease	The components of the Company’s net investment in leases as of December 31, 2020 were as follows: (Dollars in millions) Lease receivable $ 535 Unearned income (99) Guaranteed residual 92 Unguaranteed residual 68 Total net investment $ 596
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity	Maturities of the Company's lease receivables as of December 31, 2020 were as follows: (Dollars in millions) December 31, 2020 2021 $ 97 2022 92 2023 75 2024 54 2025 38 2026 and thereafter 179 Total future minimum lease payments $ 535

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Gross Goodwill and Accumulated Impairment Losses and Write-Offs Detailed By Reportable Segments	The following table presents goodwill allocated to each reportable segment at December 31, 2020: (Dollars in millions) Regional Specialty Total December 31, 2017 $ 773 $ 614 $ 1,387 Additions 29 17 46 December 31, 2018 $ 802 $ 631 $ 1,433 Additions — — — December 31, 2019 $ 802 $ 631 $ 1,433 Additions 78 — 78 December 31, 2020 $ 880 $ 631 $ 1,511
Summary of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition	December 31, 2020 December 31, 2019 (Dollars in millions) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Core deposit intangibles $ 371 $ (81) $ 290 $ 157 $ (47) $ 110 Client relationships 37 (8) 29 78 (60) 18 Other (a) 41 (6) 35 6 (3) 3 Total $ 449 $ (95) $ 354 $ 241 $ (110) $ 131
Schedule of Estimated Aggregate Amortization Expense for Intangible Assets	As of December 31, 2020 the estimated aggregated amortization expense is expected to be: (Dollars in millions) Year Amortization 2021 $ 56 2022 51 2023 48 2024 44 2025 37

Mortgage Banking Activity (Tabl

Mortgage Banking Activity (Tables)	12 Months Ended
	Dec. 31, 2020
Mortgage Banking [Abstract]
Schedule of Mortgage Loans Held-for-Sale	The following table summarizes activity relating to residential mortgage loans held for sale for the year ended December 31, 2020: (Dollars in millions) Year ended December 31, 2020 Balance at beginning of period $ 4 Acquired 320 Originations and purchases 2,499 Sales, net of gains (2,405) Mortgage loans transferred to held for investment (9) Balance at end of period $ 409
Servicing Asset at Amortized Cost	Mortgage servicing rights had the following carrying values as of the period indicated. December 31, 2020 (Dollars in millions) Gross Carrying Accumulated Net Carrying Amount Mortgage servicing rights $ 28 $ (3) $ 25

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Maturities of Time Deposits [Abstract]
Composition of Deposits	The composition of deposits is presented in the following table: (Dollars in millions) 2020 2019 Savings $ 27,324 $ 11,665 Time deposits 5,070 3,618 Other interest-bearing deposits 15,415 8,718 Interest-bearing deposits 47,809 24,001 Noninterest-bearing 22,173 8,429 Total deposits $ 69,982 $ 32,430
Schedule of Time Deposits Included in Interest-Bearing Deposits	Time deposits tha t exceed t he FDIC insurance limit of $250,000 at December 31, 2020 and 2019 were $1.4 billion and $0.9 billion, respectively. Scheduled maturities of time deposits as of December 31, 2020 were as follows: (Dollars in millions) 2021 $ 3,952 2022 776 2023 157 2024 91 2025 62 2026 and after 32 Total $ 5,070

Short-term borrowings (Tables)

Short-term borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Short-term Debt	A summary of short-term borrowings for the years 2020, 2019 and 2018 is presented in the following table: (Dollars in millions) Trading Liabilities Federal Funds Purchased Securities Sold Under Agreements to Repurchase Other Short-term Borrowings 2020 Average balance $ 457 $ 862 $ 1,109 $ 626 Year-end balance 353 845 1,187 166 Maximum month-end outstanding 983 1,487 1,661 4,061 Average rate for the year 1.24 % 0.34 % 0.46 % 0.92 % Average rate at year-end 0.77 0.10 0.26 0.09 2019 Average balance $ 503 $ 738 $ 701 $ 538 Year-end balance 506 548 717 2,253 Maximum month-end outstanding 754 1,282 772 2,276 Average rate for the year 2.48 % 2.08 % 1.89 % 2.34 % Average rate at year-end 2.07 1.55 1.72 2.14 2018 Average balance $ 683 $ 405 $ 714 $ 1,047 Year-end balance 335 257 763 115 Maximum month-end outstanding 891 503 891 2,229 Average rate for the year 2.83 % 1.89 % 1.40 % 1.82 % Average rate at year-end 3.21 2.50 1.66 2.48

Term Borrowings (Tables)

Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Information Pertaining to Term Borrowings	The following table presents information pertaining to term borrowings on December 31,: ( Dollars in millions ) 2020 2019 First Horizon Bank: Subordinated notes (a) Maturity date – May 1, 2030 - 5.75% on December 31, 2020 $ 447 $ — Other collateralized borrowings - Maturity date – December 22, 2037 0.52% on December 31, 2020 and 2.19% on December 31, 2019 (b) 82 81 Other collateralized borrowings - SBA loans (c) 15 22 First Horizon Corporation: Senior notes Maturity date – December 15, 2020 – 3.50% on December 31, 2019 (d) — 496 Maturity date – May 26, 2023 - 3.55% on December 31, 2020 447 — Maturity date – May 26, 2025 - 4.00% on December 31, 2020 348 — Junior subordinated debentures (e) 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 - 1.90% on December 31, 2020 and 3.57% on December 31, 2019 3 3 Maturity date - December 15, 2035 - 1.59% on December 31, 2020 and 3.26% on December 31, 2019 18 18 Maturity date - March 15, 2036 - 1.62% on December 31, 2020 and 3.29% on December 31, 2019 9 9 Maturity date - March 15, 2036 - 1.76% on December 31, 2020 and 3.43% on December 31, 2019 12 12 Maturity date - June 30, 2036 - 1.56% on December 31, 2020 and 3.28% on December 31, 2019 27 26 Maturity date - July 7, 2036 - 1.79% on December 31, 2020 and 3.54% on December 31, 2019 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 - 1.87% on December 31, 2020 and 3.54% on December 31, 2019 51 51 Maturity date - September 6, 2037 - 1.66% on December 31, 2020 and 3.32% on December 31, 2019 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, 1.27% to 4.95% on December 31, 2020 45 — FT Real Estate Securities Company, Inc.: Cumulative preferred stock (f) Maturity date – March 31, 2031 – 9.50% 46 46 Total $ 1,670 $ 791 (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 2 to 24 years. These borrowings had a weighted average interest rate of 3.90% and 3.95% on December 31, 2020 and 2019, respectively. (d) Early redeemed on November 15, 2020. Changes in the fair value of debt attributable to interest rate risk are hedged. Refer to Note 22 – Derivatives. (e) Acquired in conjunction with the acquisitions of CBF and merger with IBKC. A portion qualifies for Tier 2 capital under the risk-based capital guidelines. (f) In 2020, a portion qualifies for Tier 2 capital under the risk-based capital guidelines for both First Horizon Bank and First Horizon Corporation. In 2019, only a portion qualified as Tier 2 capital.
Schedule of Annual Principal Repayment Requirements	Annual principal repayment requirements as of December 31, 2020 are as follows: ( Dollars in millions ) 2021 $ — 2022 — 2023 450 2024 — 2025 and after 1,274

Preferred Stock (Tables)

Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Stock by Class	The following table presents a summary of FHN's non-cumulative perpetual preferred stock: December 31, 2020 2019 (Dollars in millions) Issuance Date Earliest Redemption Date (a) Annual Dividend Rate Dividend Payments Shares Outstanding Liquidation Amount Carrying Amount Carrying Amount Series A 1/31/2013 4/10/2018 6.200 % Quarterly 1,000 $ 100 $ 96 $ 96 Series B 7/2/2020 8/1/2025 6.625 % (b) Semi-annually 8,000 80 77 — Series C 7/2/2020 5/1/2026 6.600 % (c) Quarterly 5,750 58 59 — Series D 7/2/2020 5/1/2024 6.100 % (d) Semi-annually 10,000 100 93 — Series E 5/28/2020 10/10/2025 6.500 % Quarterly 1,500 150 145 — 26,250 $ 488 $ 470 $ 96 (a) Denotes earliest optional redemption date. Earlier redemption is possible, at FHN's election, if certain regulatory capital events occur. (b) Fixed dividend rate will reset on August 1, 2025 to three-month LIBOR plus 4.262% (c) Fixed dividend rate will reset on May 1, 2026 to three-month LIBOR plus 4.920% (d) Fixed dividend rate will reset on May 1, 2024 to three-month LIBOR plus 3.859%

Regulatory Capital and Restri_2

Regulatory Capital and Restrictions (Tables)	12 Months Ended
	Dec. 31, 2020
Brokers and Dealers [Abstract]
Summary Of Actual Capital Amounts And Ratios	The actual capital amounts and ratios of FHN and First Horizon Bank are presented in the table below. (Dollars in millions) First Horizon Corporation First Horizon Bank Amount Ratio Amount Ratio On December 31, 2020 Actual: Total Capital $ 7,935 12.57 % $ 7,819 12.52 % Tier 1 Capital 6,782 10.74 6,825 10.93 Common Equity Tier 1 6,110 9.68 6,530 10.46 Leverage 6,782 8.24 6,825 8.36 Minimum Requirement for Capital Adequacy Purposes: Total Capital 5,051 8.00 5,001 8.00 Tier 1 Capital 3,788 6.00 3,751 6.00 Common Equity Tier 1 2,841 4.50 2,813 4.50 Leverage 3,294 4.00 3,268 4.00 Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: Total Capital 6,251 10.00 Tier 1 Capital 5,001 8.00 Common Equity Tier 1 4,063 6.50 Leverage 4,085 5.00 On December 31, 2019 Actual: Total Capital $ 4,155 11.22 % $ 3,945 10.77 % Tier 1 Capital 3,761 10.15 3,729 10.18 Common Equity Tier 1 3,409 9.20 3,434 9.38 Leverage 3,761 9.04 3,729 9.12 Minimum Requirement for Capital Adequacy Purposes: Total Capital 2,964 8.00 2,930 8.00 Tier 1 Capital 2,223 6.00 2,198 6.00 Common Equity Tier 1 1,667 4.50 1,648 4.50 Leverage 1,663 4.00 1,635 4.00 Minimum Requirement to be Well Capitalized Under Prompt Corrective Action Provisions: Total Capital 3,663 10.00 Tier 1 Capital 2,930 8.00 Common Equity Tier 1 2,381 6.50 Leverage 2,043 5.00

Components of Other Comprehen_2

Components of Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	The following table provides the changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ended December 31, 2020, 2019, and 2018: (Dollars in millions) Securities AFS Cash Flow Pension and Total Balance as of December 31, 2017 $ (22) $ (6) $ (237) $ (265) Adjustment to reflect adoption of ASU 2018-02 (5) (2) (51) (58) Balance as of December 31, 2017, as adjusted (27) (8) (288) (323) Net unrealized gains (losses) (49) (6) (9) (64) Amounts reclassified from AOCI — 2 9 11 Other comprehensive income (loss) (49) (4) — (53) Balance as of December 31, 2018 (76) (12) (288) (376) Net unrealized gains (losses) 107 11 8 126 Amounts reclassified from AOCI — 4 7 11 Other comprehensive income (loss) 107 15 15 137 Balance as of December 31, 2019 31 3 (273) (239) Net unrealized gains (losses) 74 15 3 92 Amounts reclassified from AOCI 3 (6) 10 7 Other comprehensive income (loss) 77 9 13 99 Balance as of December 31, 2020 $ 108 $ 12 $ (260) $ (140)
Reclassification Out of Accumulated Other Comprehensive Income	Reclassifications from AOCI, and related tax effects, were as follows: (Dollars in millions) Details about AOCI 2020 2019 2018 Affected line item in the statement where net income is presented Securities AFS: Realized (gains) losses on securities AFS $ 4 $ — $ — Securities gains (losses), net Tax expense (benefit) (1) — — Income tax expense 3 — — Cash flow hedges: Realized (gains) losses on cash flow hedges (8) 5 3 Interest and fees on loans and leases Tax expense (benefit) 2 (1) (1) Income tax expense (6) 4 2 Pension and Postretirement Plans: Amortization of prior service cost and net actuarial (gain) loss 13 10 12 All other expense Tax expense (benefit) (3) (3) (3) Income tax expense 10 7 9 Total reclassification from AOCI $ 7 $ 11 $ 11

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Consolidated Statements of Income and Equity	The aggregate amount of income taxes included in the Consolidated Statements of Income and the Consolidated Statements of Changes in Equity for the years ended December 31, were as follows: (Dollars in millions) 2020 2019 2018 Consolidated Statements of Income: Income tax expense $ 76 $ 134 $ 157 Consolidated Statements of Changes in Equity: Income tax expense (benefit) related to: Net unrealized gains on pension and other postretirement plans 3 5 — Net unrealized gains (losses) on securities available for sale 25 35 (16) Net unrealized gains (losses) on cash flow hedges 3 5 (1) Total $ 107 $ 179 $ 140
Schedule of Components of Income Tax Expense/(Benefit)	The components of income tax expense (benefit) for the years ended December 31, were as follows: (Dollars in millions) 2020 2019 2018 Current: Federal $ 80 $ 106 $ 43 State 14 14 10 Deferred: Federal (15) 5 82 State (3) 9 22 Total $ 76 $ 134 $ 157
Schedule of Computation of Income Tax Expense Differed from The Amounts Computed By Applying Statutory Federal Income Tax Rate To Income/(Loss) From Continuing Operations Before Income Taxes	A reconciliation of expected income tax expense (benefit) at the federal statutory rate of 21% for 2020, 2019, and 2018, respectively to the total income tax expense follows: (Dollars in millions) 2020 2019 2018 Federal income tax rate 21% 21% 21% Tax computed at statutory rate $ 196 $ 123 $ 151 Increase (decrease) resulting from: State income taxes, net of federal income tax benefit 9 15 25 Bank-owned life insurance (6) (5) (4) 401(k) – employee stock ownership plan (1) (1) (1) Tax-exempt interest (8) (6) (7) Non-deductible expenses 13 11 8 LIHTC credits and benefits, net of amortization (9) (4) (7) Other tax credits (5) — (3) Other changes in unrecognized tax benefits (9) 4 6 Purchase accounting gain (112) — — Effect of TCJA — — (7) Other 8 (3) (4) Total $ 76 $ 134 $ 157
Net DTA Balances Related to Income Tax Carryforwards	As of December 31, 2020, FHN had net deferred tax asset balances related to federal and state income tax carryforwards of $47 million and $9 million, respectively, which will expire at various dates as follows: (Dollars in millions) Expiration Dates Net Deferred Tax Losses - federal 2026 - 2035 $ 44 Net operating losses - states 2026 - 2040 9 Credits - federal 2040 3
Schedule of Deferred Tax Assets and Liabilities	Temporary differences which gave rise to deferred tax assets and deferred tax liabilities on December 31, 2020 and 2019 were as follows: (Dollars in millions) 2020 2019 Deferred tax assets: Loss reserves $ 205 $ 58 Employee benefits 86 68 Accrued expenses 7 4 Lease liability 100 56 Federal loss carryforwards 44 44 State loss carryforwards 9 1 Other 20 19 Gross deferred tax assets 471 250 Deferred tax liabilities: Depreciation and amortization $ 83 $ 51 Investment in debt securities (ASC 320) (a) 35 10 Equity investments 11 4 Other intangible assets 93 56 Prepaid expenses 15 10 ROU lease asset 89 50 Leasing 135 — Other 10 — Gross deferred tax liabilities 471 181 Net deferred tax assets $ — $ 69 (a) Tax effects of unrealized gains and losses are tracked on a security-by-security basis.
Schedule of Rollforward of Unrecognized Tax Benefits	The rollforward of unrecognized tax benefits is shown below: (Dollars in millions) Balance at December 31, 2018 $ 20 Increases related to prior year tax positions 3 Increases related to current year tax positions 2 Lapse of statutes (1) Balance at December 31, 2019 $ 24 Increases related to prior year tax positions 56 Increases related to current year tax positions 1 Settlements (10) Lapse of statutes (1) Balance at December 31, 2020 $ 70

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Reconciliation of Earnings/(Loss) Per Common and Diluted Share	The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding: (Dollars in millions, except per share data, shares in thousands) 2020 2019 2018 Net income $ 857 $ 452 $ 557 Net income attributable to noncontrolling interest 12 11 12 Net income attributable to controlling interest 845 441 545 Preferred stock dividends 23 6 6 Net income available to common shareholders $ 822 $ 435 $ 539 Weighted average common shares outstanding—basic 432,125 313,637 324,375 Effect of dilutive securities 1,829 2,020 3,070 Weighted average common shares outstanding—diluted 433,954 315,657 327,445 Basic earnings per common share $ 1.90 $ 1.39 $ 1.66 Diluted earnings per common share $ 1.89 $ 1.38 $ 1.65
Schedule of Anti-Dilutive Options and Awards	The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met: (Shares in thousands) 2020 2019 2018 Stock options excluded from the calculation of diluted EPS 4,595 2,359 2,256 Weighted average exercise price of stock options excluded from the calculation of diluted EPS $ 17.47 $ 21.12 $ 24.33 Other equity awards excluded from the calculation of diluted EPS 3,639 2,224 608

Pension, Savings, and Other E_2

Pension, Savings, and Other Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Actuarial Assumptions Used	The actuarial assumptions used in the defined benefit pension plans and other employee benefit plans were as follows: Benefit Obligations Net Periodic Benefit Cost 2020 2019 2018 2020 2019 2018 Discount rate Qualified pension 2.63% 3.31% 4.43% 3.31% 4.43% 3.75% Nonqualified pension 2.24% 3.08% 4.26% 3.08% 4.26% 3.59% Other nonqualified pension 1.41% 2.57% 3.83% 2.57% 3.83% 3.19% Postretirement benefits 1.92%-2.81% 2.85% - 3.44% 4.03% - 4.56% 2.87%-3.44% 4.04% - 4.56% 3.35% - 3.87% Expected long-term rate of return Qualified pension/ N/A N/A N/A 3.45% 4.80% 4.20% Postretirement benefit (retirees post January 1, 1993) N/A N/A N/A 6.40% 6.85% 5.95% Postretirement benefit (retirees prior to January 1, 1993) N/A N/A N/A 0.90% 0.05% 2.15%
Schedule of Projected Benefit Obligation and Interest Credit Rates	FHN has one pension plan where participants' benefits are affected by interest crediting rates. The plan's projected benefit obligation as of December 31, 2020, 2019 and 2018 and interest crediting rates for the respective years are: (Dollars in millions) 2020 2019 2018 Projected benefit obligation $ 15 $ 16 $ 17 Interest crediting rate 8.2 % 9.66 % 10.12 %
Schedule of Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the plan years 2020, 2019 and 2018 were as follows: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2018 2020 2019 2018 Components of net periodic benefit cost Interest cost $ 24 $ 30 $ 28 $ 1 $ 1 $ 1 Expected return on plan assets (26) (37) (33) (1) (1) (1) Amortization of unrecognized: Actuarial (gain) loss 13 10 12 — — — Net periodic benefit cost $ 11 $ 3 $ 7 $ — $ — $ —
Schedule of Plan's Benefit Obligations and Plan Assets	The following tables set forth the plans’ benefit obligations and plan assets for 2020 and 2019: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2020 2019 Change in benefit obligation Benefit obligation, beginning of year $ 836 $ 765 $ 42 $ 35 Interest cost 24 30 1 1 Plan amendments — — — 1 Actuarial (gain) loss (a) 70 103 4 7 Actual benefits paid (37) (38) (1) (2) Premium paid for annuity purchase (b) — (24) — — Benefit obligation, end of year $ 893 $ 836 $ 46 $ 42 Change in plan assets Fair value of plan assets, beginning of year $ 826 $ 731 $ 20 $ 18 Actual return on plan assets 103 154 3 3 Employer contributions 4 3 1 1 Actual benefits paid – settlement payments (36) — (1) (2) Actual benefits paid – other payments (1) (38) — — Premium paid for annuity purchase (b) — (24) — — Fair value of plan assets, end of year $ 896 $ 826 $ 23 $ 20 Funded (unfunded) status of the plans $ 3 $ (10) $ (23) $ (22) Amounts recognized in the Balance Sheets Other assets $ 40 $ 27 $ 20 $ 18 Other liabilities (37) (37) (43) (40) Net asset (liability) at end of year $ 3 $ (10) $ (23) $ (22) (a) Variances in the actuarial (gain) loss are due to normal activity such as changes in discount rates, updates to participant demographic information and revisions to life expectancy assumptions. (b) 2019 amounts represent settlements of certain retired participants in the qualified pension plan that occurred during the year.
Schedule of Funded Status for Pension and Post Retirement Plans	The projected benefit obligation for unfunded plans was as follows: Pension Benefits Other Benefits (Dollars in millions) 2020 2019 2020 2019 Projected benefit obligation $ 37 $ 37 $ 43 $ 39
Schedule of Defined Benefit Plan Balances Reflected in AOCI on Pre-tax Basis	Balances reflected in accumulated other comprehensive income on a pre-tax basis for the years ended December 31, 2020 and 2019 consist of: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2020 2019 Amounts recognized in accumulated other comprehensive income Net actuarial (gain) loss $ 342 $ 363 $ 1 $ (2)
Schedule of Changes in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income on Pre-tax Basis	The pre-tax amounts recognized in other comprehensive income during 2020 and 2019 were as follows: (Dollars in millions) Pension Benefits Other Benefits 2020 2019 2020 2019 Changes in plan assets and benefit obligation recognized in other comprehensive income Net actuarial (gain) loss arising during measurement period $ (8) $ (14) $ 3 $ 5 Items amortized during the measurement period: Net actuarial gain (loss) (13) (10) — — Total recognized in other comprehensive income $ (21) $ (24) $ 3 $ 5
Schedule of Expected Benefit Payments	The following table provides detail on expected benefit payments, which reflect expected future service, as appropriate: (Dollars in millions) Pension Other 2021 $ 41 $ 2 2022 41 2 2023 43 2 2024 44 2 2025 45 2 2026-2030 231 12
Schedule of Fair Value of Pension Plan Assets	The fair value of FHN’s pension plan assets at December 31, 2020 and 2019, by asset category classified using the Fair Value measurement hierarchy is shown in the table below. See Note 24 – Fair Value of Assets and Liabilities for more details about fair value measurements. (Dollars in millions) December 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents and money market funds $ 23 $ — $ — $ 23 Fixed income securities: U.S. treasuries — 6 — 6 Corporate, municipal and foreign bonds — 488 — 488 Common and collective funds: Fixed income — 379 — 379 Total $ 23 $ 873 $ — $ 896 (Dollars in millions) December 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents and money market funds $ 9 $ — $ — $ 9 Fixed income securities: U.S. treasuries — 5 — 5 Corporate, municipal and foreign bonds — 515 — 515 Common and collective funds: Fixed income — 297 — 297 Total $ 9 $ 817 $ — $ 826
Schedule of Fair Value of Retiree Medical Plan Assets	The fair value of FHN’s retiree medical plan assets at December 31, 2020 and 2019 by asset category are as follows: (Dollars in millions) December 31, 2020 Level 1 Level 2 Level 3 Total Mutual funds: Equity mutual funds $ 15 $ — $ — $ 15 Fixed income mutual funds 8 — — 8 Total $ 23 $ — $ — $ 23 (Dollars in millions) December 31, 2019 Level 1 Level 2 Level 3 Total Mutual funds: Equity mutual funds $ 13 $ — $ — $ 13 Fixed income mutual funds 7 — — 7 Total $ 20 $ — $ — $ 20

Stock Options, Restricted Sto_2

Stock Options, Restricted Stock, and Dividend Reinvestment Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Restricted and Performance Stock Activity	A summary of restricted and performance stock and unit activity during the year ended December 31, 2020, is presented below: Shares/ Weighted average grant date fair value (per share) (b) January 1, 2020 4,709,987 $ 16.25 Shares/units converted from IBKC 2,663,116 9.40 Shares/units granted 2,610,929 9.89 Shares/units vested/distributed (1,551,877) 15.15 Shares/units canceled (161,939) 12.55 December 31, 2020 8,270,216 $ 12.47 (a) Includes only units that settle in shares; nonvested performance units are included at 100% payout level. (b) The weighted average grant date fair value for shares/units granted in 2019 and 2018 was $16.25 and $18.70, respectively.
Schedule of Stock Options	The summary of stock option activity for the year ended December 31, 2020, is shown below: Options Weighted Average Exercise Price (per share) Weighted Aggregate Intrinsic Value (millions) January 1, 2020 4,931,781 $ 15.61 Converted IBKC 3,597,856 14.39 Options granted 584,881 15.90 Options exercised (597,686) 11.55 Options expired/canceled (767,750) 17.44 December 31, 2020 7,749,082 $ 15.20 3.85 $ 5 Options exercisable 5,766,528 15.02 3.16 4 Options expected to vest 1,982,554 15.70 5.86 —
Schedule of Valuation Assumptions, Stock Options	FHN used the Black-Scholes Option Pricing Model to estimate the fair value of stock options granted or converted in 2020, 2019, and 2018 with the following assumptions: 2020 2019 2018 Expected dividend yield 3.77% 3.63% 2.57% Expected weighted-average lives of options granted 6.25 years 6.24 years 6.21 years Expected weighted-average volatility 23.94% 24.76% 24.61% Expected volatility range 23.32 - 24.56% 23.07 - 26.45% 23.95 - 25.26% Risk-free interest rate 1.47% 2.53% 2.69%

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting, Measurement Disclosures [Abstract]
Amounts of Consolidated Revenue, Expense, Tax and Assets	The following tables present financial information for each reportable segment for the years ended December 31: (Dollars in millions) 2020 2019 2018 Consolidated Net interest income $ 1,662 $ 1,210 $ 1,220 Provision for credit losses (a) 503 45 8 Noninterest income 1,492 654 723 Noninterest expense 1,718 1,233 1,221 Income before income taxes 933 586 714 Income tax expense 76 134 157 Net income $ 857 $ 452 $ 557 Average assets $ 64,346 $ 41,744 $ 40,225 Depreciation and amortization 46 65 59 Expenditures for long-lived assets 379 49 38 (a) Increase in provision for credit losses in 2020 is primarily due to 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. (Dollars in millions) 2020 2019 2018 Regional Banking Net interest income $ 1,307 $ 773 $ 815 Provision for credit losses 392 24 4 Noninterest income 343 289 264 Noninterest expense 900 626 707 Income before income taxes 358 412 368 Income tax expense 77 94 82 Net income $ 281 $ 318 $ 286 Average assets $ 31,802 $ 18,252 $ 17,263 Depreciation and amortization (46) 22 18 Expenditures for long-lived assets 283 29 36 Specialty Banking Net interest income $ 583 $ 444 $ 417 Provision for loan losses 117 37 15 Noninterest income 576 318 210 Noninterest expense 491 351 302 Income before income taxes 551 374 310 Income tax expense 134 93 76 Net income $ 417 $ 281 $ 234 Average assets $ 19,713 $ 15,508 $ 14,420 Depreciation and amortization 3 14 19 Expenditures for long-lived assets 6 4 2 Corporate Net interest expense $ (228) $ (7) $ (12) Provision credit for loan losses (6) (16) (11) Noninterest income (a) 573 47 249 Noninterest expense (b)(c)(d) 327 256 212 Income (loss) before income taxes 24 (200) 36 Income tax benefit (135) (53) (1) Net income (loss) $ 159 $ (147) $ 37 Average assets $ 12,831 $ 7,984 $ 8,542 Depreciation and amortization 89 29 22 Expenditures for long-lived assets 90 16 — Certain previously reported amounts have been reclassified to agree with current presentation. (a) 2020 includes $533 million purchase accounting gain associated with the IBKC merger; 2018 includes a $213 million pre-tax gain from the sale of Visa Class B shares. (b) 2019 includes restructuring-related costs associated with efficiency initiatives; refer to Note 25 - Restructuring, Repositioning, and Efficiency for additional information. 2020, 2019 and 2018 include merger-related expenses; refer to Note 2 - Acquisitions and Divestitures for additional information. (c) 2019 includes $21 million of asset impairments, professional fees, and other client-contact and technology-related expenses associated with rebranding initiatives. (d) 2020 and 2019 include $41 million and $11 million, respectively of contributions to FHN's foundations. The following tables reflect a disaggregation of FHN’s noninterest income by major product line and reportable segment for the years ended December 31, 2020, 2019, and 2018: 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 Mortgage banking and title income — 128 1 129 Brokerage, management fees and commissions 66 — — 66 Trust services and investment management 39 — — 39 Bankcard income 34 2 1 37 Securities gains (losses), net (b) — — (6) (6) Purchase accounting gain — — 533 533 Other income (c) 72 13 38 123 Total noninterest income $ 343 $ 576 $ 573 $ 1,492 December 31, 2019 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ — $ 278 $ 1 $ 279 Deposit transactions and cash management 114 11 7 132 Mortgage banking and title income — 8 2 10 Brokerage, management fees and commissions 55 — — 55 Trust services and investment management 30 — — 30 Bankcard income 26 2 — 28 Other income (c) 64 19 37 120 Total noninterest income $ 289 $ 318 $ 47 $ 654 December 31, 2018 (Dollars in millions) Regional Banking Specialty Banking Corporate Consolidated Noninterest income: Fixed income (a) $ — $ 164 $ 4 $ 168 Deposit transactions and cash management 110 17 6 133 Mortgage banking and title income — 8 3 11 Brokerage, management fees and commissions 55 — — 55 Trust services and investment management 30 — — 30 Bankcard income 28 1 — 29 Securities gains (losses), net (b) — — 213 213 Other income (c) 41 20 23 84 Total noninterest income $ 264 $ 210 $ 249 $ 723 Certain previously reported amounts have been reclassified to agree with current presentation. (a) For years ended 2020, 2019 and 2018, includes $39 million, $34 million and $29 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers." 2019 and 2018 include $1 million and $4 million, respectively, of gains from the reversal of a previous valuation adjustment due to sales and payoffs of TRUPS loans excluded from the scope of ASC 606 in the Corporate segment. (b) Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total non-interest income. 2018 includes a pre-tax gain of $213 million from the sale of FHN's remaining holdings of Visa Class B shares. (c) Includes other service charges, ATM and interchange fees, electronic banking fees, and insurance commissions in scope of ASC 606.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2020
Variable Interest Entities [Abstract]
Summary Of VIEs Consolidated By FHN	The following table summarizes the carrying value of assets and liabilities associated with rabbi trusts used for deferred compensation plans which are consolidated by FHN as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 ( Dollars in millions ) Assets: Other assets $ 164 $ 92 Total assets $ 164 $ 92 Liabilities: Other liabilities $ 142 $ 71 Total liabilities $ 142 $ 71
Summary of the Impact of Qualifying LIHTC Investments	The following table summarizes the impact to Income tax expense on the Consolidated Statements of Income for the years ended December 31, 2020, 2019 and 2018 for LIHTC investments accounted for under the proportional amortization method. ( Dollars in millions ) 2020 2019 2018 Income tax expense (benefit): Amortization of qualifying LIHTC investments $ 23 $ 15 $ 11 Low income housing tax credits (22) (14) (10) Other tax benefits related to qualifying LIHTC investments (10) (6) (7)
Summary Of VIEs Not Consolidated By FHN	The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2020: (Dollars in millions) Maximum Liability Classification Type: Low income housing partnerships $ 338 $ 132 (a) Other tax credit investments (b) 64 42 Other assets Small issuer trust preferred holdings (c) 210 — Loans and leases On-balance sheet trust preferred securitization 32 82 (d) Holdings of agency mortgage-backed securities (c) 7,063 — (e) Commercial loan troubled debt restructurings (f) 186 — Loans and leases Proprietary trust preferred issuances (g) — 287 Term borrowings (a) Maximum loss exposure represents $206 million of current investments and $132 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are recognized in Other liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2024. (b) Maximum loss exposure represents the value of current investments. (c) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (d) Includes $112 million classified as Loans and leases, and $2 million classified as Trading securities which are offset by $82 million classified as Term borrowings. (e) Includes $0.8 billion classified as Trading securities and $6.2 billion classified as Securities available for sale. (f) Maximum loss exposure represents $176 million of current receivables and $10 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (g) No exposure to loss due to nature of FHN's involvement. The following table summarizes FHN’s nonconsolidated VIEs as of December 31, 2019: (Dollars in millions) Maximum Liability Classification Type: Low income housing partnerships $ 238 $ 136 (a) Other tax credit investments (b) (c) 6 — Other assets Small issuer trust preferred holdings (d) 238 — Loans and leases On-balance sheet trust preferred securitization 33 81 (e) Proprietary residential mortgage securitizations 1 — Trading securities Holdings of agency mortgage-backed securities (d) 4,538 — (f) Commercial loan troubled debt restructurings (g) 45 — Loans and leases Sale-leaseback transaction 18 — (h) Proprietary trust preferred issuances (i) — 167 Term borrowings (a) Maximum loss exposure represents $101 million of current investments and $137 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events, and are also recognized in Other liabilities. (b) A liability is not recognized as investments are written down over the life of the related tax credit. (c) Maximum loss exposure represents current investment balance. As of December 31, 2019, there were no investments funded through loans from community development enterprises. (d) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (e) Includes $112 million classified as Loans and leases and $2 million classified as Trading securities, which are offset by $81 million classified as Term borrowings. (f) Includes $0.5 billion classified as Trading securities and $4.0 billion classified as Securities available for sale. (g) Maximum loss exposure represents $43 million of current receivables and $2 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (h) Maximum loss exposure represents the current loan balance plus additional funding commitments less amounts received from the buyer-lessor. (i) No exposure to loss due to nature of FHN's involvement.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Associated With Fixed Income Trading Activities	The following tables summarize derivatives associated with FHNF's trading activities as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Notional Assets Liabilities Customer interest rate contracts $ 3,950 $ 207 $ 7 Offsetting upstream interest rate contracts 3,950 2 17 Forwards and futures purchased 10,795 62 — Forwards and futures sold 11,633 1 65 December 31, 2019 (Dollars in millions) Notional Assets Liabilities Customer interest rate contracts $ 2,698 $ 66 $ 7 Offsetting upstream interest rate contracts 2,698 3 4 Option contracts purchased 40 — — Forwards and futures purchased 9,217 17 3 Forwards and futures sold 9,403 4 17
Derivatives Associated With Interest Rate Risk Management Activities	The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 6,868 $ 436 $ 1 Offsetting upstream interest rate contracts 6,868 5 35 December 31, 2019 (Dollars in millions) Notional Assets Liabilities Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts $ 3,044 $ 90 $ 4 Offsetting upstream interest rate contracts 3,044 4 10 Debt Hedging Hedging Instruments: Interest rate swaps $ 500 N/A $ — Hedged Items: Term borrowings: Par N/A N/A $ 500 Cumulative fair value hedging adjustments N/A N/A (2) Unamortized premium (discount) and issuance costs N/A N/A (1) Total carrying value N/A N/A $ 497
Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities	The following table summarizes gains (losses) on FHN’s derivatives associated with interest rate risk management activities for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, 2020 2019 2018 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Customer Interest Rate Contracts Hedging Hedging Instruments and Hedged Items: Customer interest rate contracts (a) $ 357 $ 92 $ 2 Offsetting upstream interest rate contracts (a) (357) (92) (2) Debt Hedging Hedging Instruments: Interest rate swaps (b) $ 2 $ 13 $ (2) Hedged Items: Term borrowings (a) (c) (2) (13) 2 (a) Gains (losses) included in Other expense within the Consolidated Statements of Income. (b) Gains (losses) included in Interest expense. (c) Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.
Derivative Associated With Cash Flow Hedges	The following tables summarize FHN’s derivative activities associated with cash flow hedges as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 1,500 $ 32 $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 1,500 N/A December 31, 2019 (Dollars in millions) Notional Assets Liabilities Cash Flow Hedges Hedging Instruments: Interest rate contracts $ 900 N/A $ — Hedged Items: Variability in cash flows related to debt instruments (primarily loans) N/A $ 900 N/A
Gains/(Losses) on Derivatives Associated with Cash Flow Hedges	The following table summarizes gains (losses) on FHN’s derivatives associated with cash flow hedges for the years ended December 31, 2020, 2019, and 2018: Year Ended December 31, 2020 2019 2018 (Dollars in millions) Gains (Losses) Gains (Losses) Gains (Losses) Cash Flow Hedges Hedging Instruments: Interest rate contracts (a) $ 3 $ 21 $ (6) Gain (loss) recognized in Other comprehensive income (loss) 15 11 (6) Gain (loss) reclassified from AOCI into Interest income (6) 4 2 (a) Approximately $28 million of pre-tax gains are expected to be reclassified into earnings in the next twelve months.
Derivative Assets And Collateral Received	The following table provides details of derivative assets and collateral received as presented on the Consolidated Balance Sheets as of December 31, 2020 and 2019: Gross amounts not (Dollars in millions) Gross amounts Gross amounts Net amounts of Derivative liabilities Collateral Net amount Derivative assets: December 31, 2020 Interest rate derivative contracts $ 702 $ — $ 702 $ (7) $ (327) $ 368 Forward contracts 63 — 63 (14) (20) 29 $ 765 $ — $ 765 $ (21) $ (347) $ 397 December 31, 2019 Interest rate derivative contracts $ 162 $ — $ 162 $ (6) $ (143) $ 13 Forward contracts 21 — 21 (13) (2) 6 $ 183 $ — $ 183 $ (19) $ (145) $ 19 (a) Included in Other assets on the Consolidated Balance Sheets. As of December 31, 2020 and 2019, $4 million and $0.1 million, respectively, of derivative assets have been excluded from these tables because they are generally not subject to master netting or similar agreements.
Derivative Liabilities and Collateral Pledged	The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Balance Sheets as of December 31, 2020 and 2019: Gross amounts not offset (Dollars in millions) Gross amounts Gross Net amounts of Derivative assets Collateral Net amount Derivative liabilities: December 31, 2020 Interest rate derivative contracts $ 60 $ — $ 60 $ (7) $ (31) $ 22 Forward contracts 65 — 65 (14) (51) — $ 125 $ — $ 125 $ (21) $ (82) $ 22 December 31, 2019 Interest rate derivative contracts $ 24 $ — $ 24 $ (6) $ (18) $ — Forward contracts 20 — 20 (13) (7) — $ 44 $ — $ 44 $ (19) $ (25) $ — (a) Included in Other liabilities on the Consolidated Balance Sheets. As of December 31, 2020 and 2019, $22 million and $23 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The notional and fair values of these contracts are presented in the table below. Balances and activity for periods prior to the IBKC merger were not significant. December 31, 2020 (Dollars in millions) Notional Assets Liabilities Mortgage Banking Hedges Option contracts written $ 667 $ 20 $ — Forward contracts purchased 725 — 6 The following table summarizes gains (losses) on FHN's derivatives associated with mortgage banking activities for the year ended December 31, 2020. Year Ended 2020 (Dollars in millions) Gains (Losses) Mortgage Banking Hedges Option contracts written $ 15 Forward contracts purchased (37)

Master Netting and Similar Ag_2

Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Offsetting [Abstract]
Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties	The following table provides details of securities purchased under agreements to resell and collateral pledged by counterparties as of December 31: Gross amounts not offset in the (Dollars in millions) Gross amounts Gross amounts Net amounts of Offsetting Securities collateral Net amount Securities purchased under agreements to resell: 2020 $ 380 $ — $ 380 $ — $ (379) $ 1 2019 587 — 587 (21) (563) 3
Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company	The following table provides details of securities sold under agreements to repurchase and collateral pledged by FHN as of December 31: Gross amounts not offset in the (Dollars in millions) Gross amounts Gross amounts Net amounts of Offsetting Securities/ Net amount Securities sold under agreements to repurchase: 2020 $ 1,187 $ — $ 1,187 $ — $ (1,187) $ — 2019 717 — 717 (21) (696) —
Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase	The following tables provide details, by collateral type, of the remaining contractual maturity of securities sold under agreements to repurchase as of December 31: December 31, 2020 (Dollars in millions) Overnight and Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 284 $ — $ 284 Government agency issued MBS 616 — 616 Government agency issued CMO 10 — 10 Other U.S. government agencies 151 — 151 Government guaranteed loans (SBA and USDA) 126 — 126 Total securities sold under agreements to repurchase $ 1,187 $ — $ 1,187 December 31, 2019 (Dollars in millions) Overnight and Up to 30 Days Total Securities sold under agreements to repurchase: U.S. treasuries $ 41 $ — $ 41 Government agency issued MBS 341 5 346 Other U.S. government agencies 55 — 55 Government guaranteed loans (SBA and USDA) 275 — 275 Total securities sold under agreements to repurchase $ 712 $ 5 $ 717

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019: December 31, 2020 (Dollars in millions) Level 1 Level 2 Level 3 Total 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 funds 118 — — 118 Equity, mutual funds, and other 25 — — 25 Derivatives, forwards and futures 63 — — 63 Derivatives, interest rate contracts — 702 — 702 Derivatives, other — 4 — 4 Total other assets 206 706 — 912 Total assets $ 206 $ 10,290 $ 60 $ 10,556 Trading liabilities: U.S. treasuries $ — $ 307 $ — $ 307 Government issued agency MBS — 3 — 3 Corporate and other debt — 43 — 43 Total trading liabilities — 353 — 353 Other liabilities: Derivatives, forwards and futures 71 — — 71 Derivatives, interest rate contracts — 60 — 60 Derivatives, other — 4 14 18 Total other liabilities 71 64 14 149 Total liabilities $ 71 $ 417 $ 14 $ 502 December 31, 2019 (Dollars in millions) Level 1 Level 2 Level 3 Total Trading securities: U.S. treasuries $ — $ 135 $ — $ 135 Government agency issued MBS — 268 — 268 Government agency issued CMO — 250 — 250 Other U.S. government agencies — 125 — 125 States and municipalities — 121 — 121 Corporate and other debt — 445 — 445 Equity, mutual funds, and other — 1 — 1 Total trading securities — 1,345 — 1,345 Trading securities—mortgage banking — — 1 1 Loans held for sale (elected fair value) — — 14 14 Securities available for sale: Government agency issued MBS — 2,349 — 2,349 Government agency issued CMO — 1,670 — 1,670 Other U.S. government agencies — 306 — 306 States and municipalities — 61 — 61 Corporate and other debt — 40 — 40 Interest-only strips (elected fair value) — — 19 19 Total securities available for sale — 4,426 19 4,445 Other assets: Deferred compensation mutual funds 47 — — 47 Equity, mutual funds, and other 23 — — 23 Derivatives, forwards and futures 20 — — 20 Derivatives, interest rate contracts — 163 — 163 Total other assets 90 163 — 253 Total assets $ 90 $ 5,934 $ 34 $ 6,058 Trading liabilities: U.S. treasuries $ — $ 407 $ — $ 407 Corporates and other debt — 99 — 99 Total trading liabilities — 506 — 506 Other liabilities: Derivatives, forwards and futures 20 — — 20 Derivatives, interest rate contracts — 24 — 24 Derivatives, other — — 23 23 Total other liabilities 20 24 23 67 Total liabilities $ 20 $ 530 $ 23 $ 573
Summary of Changes in Level 3 Assets Measured At Fair Value	Changes in Recurring Level 3 Fair Value Measurements The changes in Level 3 assets and liabilities measured at fair value for the years ended December 31, 2020, 2019 and 2018 on a recurring basis are summarized as follows: Year Ended December 31, 2020 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Loans held for investment Net derivative Balance on January 1, 2020 $ 1 $ 19 $ 14 $ — $ (23) Acquired — — — 14 — Total net gains (losses) included in net income (1) (6) 1 — (1) Purchases — 6 — — — Sales — (11) — (4) — Settlements — — (3) (3) 10 Net transfers into (out of) Level 3 — 24 (b) — 9 — Balance on December 31, 2020 $ — $ 32 $ 12 $ 16 $ (14) Net unrealized gains (losses) included in net income $ — (a) $ (4) (c) $ 1 (a) $ — $ (1) (d) Year Ended December 31, 2019 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Net derivative Balance on January 1, 2019 $ 2 $ 10 $ 16 $ (32) Total net gains (losses) included in net income — (5) 2 (4) Purchases — — — — Sales — (47) — — Settlements (1) — (4) 13 Net transfers into (out of) Level 3 — 61 (b) — — Balance on December 31, 2019 $ 1 $ 19 $ 14 $ (23) Net unrealized gains (losses) included in net income $ — (a) $ (2) (c) $ 2 (a) $ (4) (d) Year Ended December 31, 2018 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Net derivative Balance on January 1, 2018 $ 2 $ 1 $ 19 $ (6) Total net gains (losses) included in net income 1 — 1 (5) Purchases — — — (28) (e) Sales — (17) — — Settlements (1) — (4) 7 Net transfers into (out of) Level 3 — 26 (b) — — Balance on December 31, 2018 $ 2 $ 10 $ 16 $ (32) Net unrealized gains (losses) included in net income $ — (a) $ (1) (c) $ 1 (a) $ (5) (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. (e) Increase related to Visa-related derivatives, see Note 22-Derivatives.
Summary of Changes in Level 3 Net Derivative Asset (Liability) Measured at Fair Value	Changes in Recurring Level 3 Fair Value Measurements The changes in Level 3 assets and liabilities measured at fair value for the years ended December 31, 2020, 2019 and 2018 on a recurring basis are summarized as follows: Year Ended December 31, 2020 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Loans held for investment Net derivative Balance on January 1, 2020 $ 1 $ 19 $ 14 $ — $ (23) Acquired — — — 14 — Total net gains (losses) included in net income (1) (6) 1 — (1) Purchases — 6 — — — Sales — (11) — (4) — Settlements — — (3) (3) 10 Net transfers into (out of) Level 3 — 24 (b) — 9 — Balance on December 31, 2020 $ — $ 32 $ 12 $ 16 $ (14) Net unrealized gains (losses) included in net income $ — (a) $ (4) (c) $ 1 (a) $ — $ (1) (d) Year Ended December 31, 2019 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Net derivative Balance on January 1, 2019 $ 2 $ 10 $ 16 $ (32) Total net gains (losses) included in net income — (5) 2 (4) Purchases — — — — Sales — (47) — — Settlements (1) — (4) 13 Net transfers into (out of) Level 3 — 61 (b) — — Balance on December 31, 2019 $ 1 $ 19 $ 14 $ (23) Net unrealized gains (losses) included in net income $ — (a) $ (2) (c) $ 2 (a) $ (4) (d) Year Ended December 31, 2018 (Dollars in millions) Trading Interest-only strips- AFS Loans held for sale Net derivative Balance on January 1, 2018 $ 2 $ 1 $ 19 $ (6) Total net gains (losses) included in net income 1 — 1 (5) Purchases — — — (28) (e) Sales — (17) — — Settlements (1) — (4) 7 Net transfers into (out of) Level 3 — 26 (b) — — Balance on December 31, 2018 $ 2 $ 10 $ 16 $ (32) Net unrealized gains (losses) included in net income $ — (a) $ (1) (c) $ 1 (a) $ (5) (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. (e) Increase related to Visa-related derivatives, see Note 22-Derivatives.
Nonrecurring Fair Value Measurements	For assets measured at fair value on a nonrecurring basis which were still held on the Consolidated Balance Sheets at December 31, 2020, 2019 and 2018, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the related carrying value. Carrying value at December 31, 2020 Year Ended December 31, 2020 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—SBAs and USDA $ — $ 508 $ 1 $ 509 $ (3) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 77 77 (12) OREO (b) — — 15 15 (1) Other assets (c) — — 9 9 (2) $ (18) Carrying value at December 31, 2019 Year Ended December 31, 2019 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—SBAs and USDA $ — $ 493 $ 1 $ 494 $ (2) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 42 42 (7) OREO (b) — — 16 16 (1) Other assets (c) — — 11 11 (2) $ (12) Carrying value at December 31, 2018 Year Ended December 31, 2018 (Dollars in millions) Level 1 Level 2 Level 3 Total Net gains (losses) Loans held for sale—other consumer $ — $ 19 $ — $ 19 $ (2) Loans held for sale—SBAs and USDA — 577 1 578 (2) Loans held for sale—first mortgages — — 1 1 — Loans and leases (a) — — 48 48 (1) OREO (b) — — 22 22 (2) Other assets (c) — — 9 9 (5) $ (12) (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.
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 December 31, 2020 and 2019: (Dollars in millions) Values Utilized Level 3 Class Fair Value at December 31, 2020 Valuation Techniques Unobservable Input Range Weighted Average (d) Available for sale securities SBA - interest only strips $ 32 Discounted cash flow Constant prepayment rate 12% 12% Bond equivalent yield 15% - 17% 15% Loans held for sale - residential real estate $ 13 Discounted cash flow Prepayment 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 flow Constant prepayment rate 8% - 12% 10% Bond equivalent yield 7%-8% 7% Loans held for investment $ 16 Discounted cash flow Constant prepayment rate 0% - 26% 11% Constant default rate 0% - 14% 1% Loss severity trends 0% -100% 11% Derivative liabilities, other $ 14 Discounted cash flow Visa 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 properties Marketability adjustments for specific properties 0% - 10% of appraisal NM Other collateral valuations Borrowing 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 properties Adjustment for value changes since appraisal 0% - 10% of appraisal NM Other assets (c) $ 9 Discounted cash flow Adjustments to current sales yields for specific properties 0% - 15% adjustment to yield NM Appraisals from comparable properties Marketability 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 Class Fair Value at December 31, 2019 Valuation Techniques Unobservable Input Range Weighted Average (d) Available for sale securities SBA - interest only strips $ 19 Discounted cash flow Constant prepayment rate 12% 12% Bond equivalent yield 16% - 17% 16% Loans held for sale - residential real estate $ 15 Discounted cash flow Prepayment speeds - First mortgage 3% - 14% 4% Prepayment speeds - HELOC 0% - 12% 8% Foreclosure losses 50% - 66% 64% Loss severity trends - First mortgage 3% - 24% of UPB 14% Loss severity trends - HELOC 0% - 72% of UPB 50% Loans held for sale - unguaranteed interest in SBA loans $ 1 Discounted cash flow Constant prepayment rate 8% - 12% 10% Bond equivalent yield 9% 9% Derivative liabilities, other $ 23 Discounted cash flow Visa covered litigation resolution amount $5.4 billion - $6.0 billion $5.8 billion Probability of resolution scenarios 10% - 50% 16% Time until resolution 15 - 39 months 29 months Loans and leases (a) $ 42 Appraisals from comparable properties Marketability adjustments for specific properties 0% - 10% of appraisal NM Other collateral valuations Borrowing base certificates adjustment 20% - 50% of gross value NM Financial Statements/Auction values adjustment 0% - 25% of reported value NM OREO (b) $ 16 Appraisals from comparable properties Adjustment for value changes since appraisal 0% - 10% of appraisal NM Other assets (c) $ 11 Discounted cash flow Adjustments to current sales yields for specific properties 0% - 15% adjustment to yield NM Appraisals from comparable properties Marketability 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. December 31, 2020 (Dollars in millions) Fair value Aggregate Fair value carrying amount Residential real estate loans held for sale reported at fair value: Total loans $ 405 $ 442 $ (37) Nonaccrual loans 2 5 (3) Loans held for investment reported at fair value: Total loans 16 17 (1) Nonaccrual loans 1 1 — December 31, 2019 (Dollars in millions) Fair value Aggregate Fair value carrying amount Residential real estate loans held for sale reported at fair value: Total loans $ 14 $ 19 $ (5) Nonaccrual loans 4 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: Year Ended December 31, (Dollars in millions) 2020 2019 2018 Changes in fair value included in net income: Mortgage banking and title noninterest income Loans held for sale $ 4 $ 2 $ 1
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 December 31, 2020 and December 31, 2019: December 31, 2020 Book Fair Value (Dollars in millions) Level 1 Level 2 Level 3 Total Assets: Loans and leases, net of allowance for loan and lease losses Commercial: Commercial, financial and industrial $ 32,651 $ — $ — $ 32,582 $ 32,582 Commercial real estate 12,033 — — 12,079 12,079 Consumer: Consumer real estate (a) 11,483 — — 11,903 11,903 Credit card & other 1,102 — — 1,131 1,131 Total loans and leases, net of allowance for loan and lease losses 57,269 — — 57,695 57,695 Short-term financial assets: Interest-bearing deposits with banks 8,351 8,351 — — 8,351 Federal funds sold 65 — 65 — 65 Securities purchased under agreements to resell 380 — 380 — 380 Total short-term financial assets 8,796 8,351 445 — 8,796 Trading securities (b) 1,176 — 1,176 — 1,176 Loans held for sale: Mortgage loans (elected fair value) (b) 405 — 393 12 405 USDA & SBA loans - LOCOM 509 — 511 1 512 Other loans - LOCOM 31 — 31 — 31 Mortgage loans - LOCOM 77 — — 77 77 Total loans held for sale 1,022 — 935 90 1,025 Securities available for sale (b) 8,047 — 8,015 32 8,047 Derivative assets (b) 770 63 706 — 769 Other assets: Tax credit investments 400 — — 371 371 Deferred compensation mutual funds 118 118 — — 118 Equity, mutual funds, and other (c) 288 25 — 263 288 Total other assets 806 143 — 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 (b) 353 — 353 — 353 Short-term financial liabilities: Federal funds purchased 845 — 845 — 845 Securities sold under agreements to repurchase 1,187 — 1,187 — 1,187 Other short-term borrowings 166 — 166 — 166 Total short-term financial liabilities 2,198 — 2,198 — 2,198 Term borrowings: Real estate investment trust-preferred 46 — — 47 47 Term borrowings—new market tax credit investment 45 — — 45 45 Secured borrowings 15 — — 15 15 Junior subordinated debentures 238 — — 223 223 Other long term borrowings 1,326 — 1,455 — 1,455 Total term borrowings 1,670 — 1,455 330 1,785 Derivative liabilities (b) 149 71 64 14 149 Total liabilities $ 9,440 $ 71 $ 9,153 $ 344 $ 9,568 (a) In first quarter 2020, the Permanent Mortgage portfolio was combined into Consumer Real Estate portfolio, all prior periods were revised for comparability. (b) Classes are detailed in the recurring and nonrecurring measurement tables. (c) 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. December 31, 2019 Book Fair Value (Dollars in millions) Level 1 Level 2 Level 3 Total Assets: Loans and leases, net of allowance for loan and lease losses Commercial: Commercial, financial and industrial $ 19,929 $ — $ — $ 20,096 $ 20,096 Commercial real estate 4,301 — — 4,301 4,301 Consumer: Consumer real estate 6,149 — — 6,334 6,334 Credit card & other 482 — — 487 487 Total loans and leases, net of allowance for loan and lease losses 30,861 — — 31,218 31,218 Short-term financial assets: Interest-bearing deposits with banks 482 482 — — 482 Federal funds sold 46 — 46 — 46 Securities purchased under agreements to resell 587 — 587 — 587 Total short-term financial assets 1,115 482 633 — 1,115 Trading securities (a) 1,346 — 1,345 1 1,346 Loans held for sale: Mortgage loans (elected fair value) (a) 14 — — 14 14 USDA & SBA loans - LOCOM 494 — 496 1 497 Other loans - LOCOM 5 — 5 — 5 Mortgage loans - LOCOM 81 — — 81 81 Total loans held for sale 594 — 501 96 597 Securities available for sale (a) 4,445 — 4,426 19 4,445 Securities held to maturity 10 — — 10 10 Derivative assets (a) 183 20 163 — 183 Other assets: Tax credit investments 247 — — 245 245 Deferred compensation assets 47 47 — — 47 Equity, mutual funds, and other (b) 229 23 — 207 230 Total other assets 523 70 — 452 522 Total assets $ 39,077 $ 572 $ 7,068 $ 31,796 $ 39,436 Liabilities: Defined maturity deposits $ 3,618 $ — $ 3,631 $ — $ 3,631 Trading liabilities (a) 506 — 506 — 506 Short-term financial liabilities: Federal funds purchased 548 — 548 — 548 Securities sold under agreements to repurchase 717 — 717 — 717 Other short-term borrowings 2,253 — 2,253 — 2,253 Total short-term financial liabilities 3,518 — 3,518 — 3,518 Term borrowings: Real estate investment trust-preferred 46 — — 47 47 Secured borrowings 22 — — 22 22 Junior subordinated debentures 145 — — 142 142 Other long term borrowings 578 — 574 — 574 Total term borrowings 791 — 574 211 785 Derivative liabilities (a) 67 20 24 23 67 Total liabilities $ 8,500 $ 20 $ 8,253 $ 234 $ 8,507 Certain previously reported amounts have been reclassified to agree with current presentation. (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 $76 million and FRB stock of $131 million. The following table presents the contractual amount and fair value of unfunded loan commitments and standby and other commitments as of December 31, 2020 and December 31, 2019: Contractual Amount Fair Value (Dollars in millions) December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Unfunded Commitments: Loan commitments $ 20,796 $ 12,355 $ 2 $ 4 Standby and other commitments 751 459 6 6

Restructuring, Repositioning,_2

Restructuring, Repositioning, and Efficiency (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring Expense Recognized	Total expense recognized for the year ended December 31, 2019 is presented in the table below: (Dollars in millions) Year Ended December 31, 2019 Personnel expense $ 11 Legal and professional fees 16 Net occupancy expense 1 Other 12 Total restructuring, repositioning, and efficiency charges $ 40

Parent Company Financial Info_2

Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Statements of Balance Sheets	Following are statements of the parent company: Balance Sheets December 31, (Dollars in millions) 2020 2019 Assets: Cash $ 827 $ 369 Notes receivable 3 3 Investments in subsidiaries: Bank 8,176 5,039 Non-bank 88 18 Other assets 274 171 Total assets $ 9,368 $ 5,600 Liabilities and equity: Accrued employee benefits and other liabilities $ 322 $ 177 Term borrowings 1,034 642 Total liabilities 1,356 819 Total equity 8,012 4,781 Total liabilities and equity $ 9,368 $ 5,600
Statements of Income	Statements of Income Year Ended December 31, (Dollars in millions) 2020 2019 2018 Dividend income: Bank $ 180 $ 345 $ 420 Non-bank — 1 1 Total dividend income 180 346 421 Other income — 1 — Total income 180 347 421 Provision (provision credit) for credit losses — (1) — Interest expense - term borrowings 39 31 31 Compensation, employee benefits and other expense 54 53 54 Total expense 93 83 85 Income before income taxes 87 264 336 Income tax benefit (18) (19) (39) Income before equity in undistributed net income of subsidiaries 105 283 375 Equity in undistributed net income (loss) of subsidiaries: Bank 736 160 171 Non-bank 4 (2) (1) Net income attributable to the controlling interest $ 845 $ 441 $ 545
Statements of Cash Flows	Statements of Cash Flows (Dollars in millions) 2020 2019 2018 Operating activities: Net income $ 845 $ 441 $ 545 Less undistributed net income of subsidiaries 740 158 170 Income before undistributed net income of subsidiaries 105 283 375 Adjustments to reconcile income to net cash provided by operating activities: Depreciation, amortization, and other — (1) — (Gain) loss on derivative transactions 4 — — Deferred income tax expense 5 4 3 Stock-based compensation expense 32 22 23 Other operating activities, net 21 28 7 Total adjustments 62 53 33 Net cash provided by operating activities 167 336 408 Investing activities: Proceeds from sales and prepayments of securities — 1 — Purchases of securities (5) — — (Investment in) return on subsidiary (2) — 2 Cash received (paid for) business combination, net 103 — (40) Net cash provided by (used in) investing activities 96 1 (38) Financing activities: Proceeds from issuance of preferred stock 144 — — Cash dividends paid - preferred stock (17) (6) (6) Common stock: Stock options exercised 7 9 4 Cash dividends paid (222) (171) (139) Repurchase of shares (4) (134) (105) Proceeds from issuance of term borrowings 795 — — Repayment of term borrowings (500) — (45) Other financing activities, net (8) — — Net cash provided by (used in) financing activities 195 (302) (291) Net increase in cash and cash equivalents 458 35 79 Cash and cash equivalents at beginning of year 369 334 255 Cash and cash equivalents at end of year $ 827 $ 369 $ 334 Total interest paid $ 33 $ 29 $ 29 Income taxes received from subsidiaries 33 43 49

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Change in Accounting Estimate [Line Items]
Performance obligation, description of timing	one year or less
Deposit Bases
Change in Accounting Estimate [Line Items]
Intangible assets, amortization period	10 years
Minimum | Furniture and Fixtures
Change in Accounting Estimate [Line Items]
Useful life of premises and equipment	3 years
Minimum | Building
Change in Accounting Estimate [Line Items]
Useful life of premises and equipment	7 years
Maximum | Furniture and Fixtures
Change in Accounting Estimate [Line Items]
Useful life of premises and equipment	15 years
Maximum | Building
Change in Accounting Estimate [Line Items]
Useful life of premises and equipment	45 years
Non-Accruing
Change in Accounting Estimate [Line Items]
Accounts receivable, net	$ 10

Significant Accounting Polici_5

Significant Accounting Policies - ASU 2016-13 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans, net of unearned income	$ 58,232		$ 31,061
Allowance for loan and lease losses	963		200	$ 180	$ 189
Other assets (deferred taxes)	20		19
Other assets	4,072		2,297
Other liabilities	1,699		990
Retained earnings	2,261		1,798
Total liabilities and equity	$ 84,209		$ 43,311
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loans, net of unearned income		$ 3
Allowance for loan and lease losses		(107)
Other assets (deferred taxes)		32
Other assets		(72)
Other liabilities		24
Retained earnings		(96)
Total liabilities and equity		$ (72)

Summary of Significant Accounti

Summary of Significant Accounting Policies - ASU 2016-15 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proceeds from BOLI reclassified	$ (12)	$ (14)	$ (13)

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ in Millions	Jul. 17, 2020USD ($)branch	Jul. 01, 2020USD ($)officestatenumberNewPreferredStockSeriesshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Apr. 30, 2019USD ($)	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Common stock, shares issued (in shares) | shares		243,000,000	555,030,652	311,469,056
Number of new series of preferred stock | numberNewPreferredStockSeries		3
Number of states | state		12
Purchase accounting gain			$ 533	$ 0	$ 0
Goodwill			$ 1,511	$ 1,433	$ 1,433		$ 1,387
Core deposit intangibles
Business Acquisition [Line Items]
Finite-lived intangible asset, estimated useful life			10 years
Subprime Consumer Loans | Discontinued Operations, Held-for-sale
Business Acquisition [Line Items]
Loans disposed of						$ 25
IBERIABANK (IBKC)
Business Acquisition [Line Items]
Purchase accounting gain		$ 533	$ 533
Number of bank branches | branch	30
Deposits		28,232
Goodwill		(533)
SunTrust Banks, Inc. Branches
Business Acquisition [Line Items]
Number of bank branches | branch	30
Deposits	$ 2,195
Deposits premium percent	3.40%
Loans and leases	$ 423
Goodwill	$ 78		$ 78
IBERIABANK (IBKC)
Business Acquisition [Line Items]
Equity interest issued, value assigned		$ 2,500
Number of offices | office		319
NORTH CAROLINA | SunTrust Banks, Inc. Branches
Business Acquisition [Line Items]
Number of bank branches | branch	20
VIRGINIA | SunTrust Banks, Inc. Branches
Business Acquisition [Line Items]
Number of bank branches | branch	8
GEORGIA | SunTrust Banks, Inc. Branches
Business Acquisition [Line Items]
Number of bank branches | branch	2

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Millions	Jul. 17, 2020	Jul. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consideration paid:
Goodwill			$ 1,511	$ 1,433	$ 1,433	$ 1,387
IBERIABANK (IBKC)
Assets:
Cash and due from banks		$ 395
Interest-bearing deposits with banks		1,683
Securities available for sale at fair value		3,544
Loans held for sale		320
Loans and leases		25,921	25,900
Allowance for loan and lease losses		(284)
Other intangible assets		240
Premises and equipment		311
OREO		9
Other assets		1,153
Total assets acquired		33,292
Liabilities:
Deposits		28,232
Short-term borrowings		209
Term borrowings		1,200
Other liabilities		616
Total liabilities assumed		30,257
Net assets acquired		3,035
Consideration paid:
Consideration for outstanding common stock		28
Total consideration paid		2,502
Goodwill		(533)
IBERIABANK (IBKC) | Sales-Type And Direct Financing Leases | Commercial
Assets:
Loans and leases			1,300
IBERIABANK (IBKC) | Common Sock
Consideration paid:
Consideration for outstanding common stock		2,243
IBERIABANK (IBKC) | Preferred Stock
Consideration paid:
Consideration for outstanding common stock		$ 231
SunTrust Banks, Inc. Branches
Assets:
Cash and due from banks	$ 2,202
Loans and leases	423
Allowance for loan and lease losses	(2)
Other intangible assets	7
Premises and equipment	11
Other assets	27
Total assets acquired	2,668
Liabilities:
Deposits	2,195
Other liabilities	30
Total liabilities assumed	2,225
Net assets acquired	443
Consideration paid:
Cash in lieu of fractional shares	521
Total consideration paid	521
Goodwill	$ 78		$ 78

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Merger and Integration Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
IBERIABANK (IBKC)
Business Acquisition [Line Items]
Merger and integration expense	$ 140	$ 11
IBERIABANK (IBKC) | Legal and professional fees
Business Acquisition [Line Items]
Merger and integration expense	41	8
IBERIABANK (IBKC) | Personnel expense
Business Acquisition [Line Items]
Merger and integration expense	61	3
IBERIABANK (IBKC) | Contribution expense
Business Acquisition [Line Items]
Merger and integration expense	20	0
IBERIABANK (IBKC) | Miscellaneous expense
Business Acquisition [Line Items]
Merger and integration expense	18	0
SunTrust Banks, Inc. Branches
Business Acquisition [Line Items]
Merger and integration expense	20	22
SunTrust Banks, Inc. Branches | Legal and professional fees
Business Acquisition [Line Items]
Merger and integration expense	2	11
SunTrust Banks, Inc. Branches | Personnel expense
Business Acquisition [Line Items]
Merger and integration expense	6	1
SunTrust Banks, Inc. Branches | Contract employment and outsourcing
Business Acquisition [Line Items]
Merger and integration expense	1	0
SunTrust Banks, Inc. Branches | Net occupancy expense
Business Acquisition [Line Items]
Merger and integration expense	1	1
SunTrust Banks, Inc. Branches | Miscellaneous expense
Business Acquisition [Line Items]
Merger and integration expense	4	2
SunTrust Banks, Inc. Branches | All other expense
Business Acquisition [Line Items]
Merger and integration expense	$ 6	$ 7

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Pro Forma (Details) - IBERIABANK (IBKC) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Net interest income	$ 2,247	$ 2,256
Noninterest income	1,071	888
Net income (loss)	$ 677	$ 881

Investment Securities - Schedul

Investment Securities - Schedule Of FHN's Investment Securities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt securities, available-for-sale:
Securities available for sale, amortized cost	$ 7,872
Securities available for sale, fair value	8,047	$ 4,445
Securities pledged and sold	6,400	3,800
U.S. treasuries
Debt securities, available-for-sale:
Securities available for sale, amortized cost	613	0
Securities available for sale, unrealized gains	0	0
Securities available for sale, unrealized losses	0	0
Securities available for sale, fair value	613	0
Government agency issued MBS
Debt securities, available-for-sale:
Securities available for sale, amortized cost	3,722	2,316
Securities available for sale, unrealized gains	92	35
Securities available for sale, unrealized losses	(2)	(3)
Securities available for sale, fair value	3,812	2,348
Government agency issued CMO
Debt securities, available-for-sale:
Securities available for sale, amortized cost	2,380	1,668
Securities available for sale, unrealized gains	29	10
Securities available for sale, unrealized losses	(3)	(7)
Securities available for sale, fair value	2,406	1,671
Other U.S. government agencies
Debt securities, available-for-sale:
Securities available for sale, amortized cost	672	304
Securities available for sale, unrealized gains	12	4
Securities available for sale, unrealized losses	0	(1)
Securities available for sale, fair value	684	307
Corporate and other debt
Debt securities, available-for-sale:
Securities available for sale, amortized cost	40	40
Securities available for sale, unrealized gains	1	0
Securities available for sale, unrealized losses	(1)	0
Securities available for sale, fair value	40	40
States and municipalities
Debt securities, available-for-sale:
Securities available for sale, amortized cost	445	57
Securities available for sale, unrealized gains	15	3
Securities available for sale, unrealized losses	0	0
Securities available for sale, fair value	460	60
Available-for-sale securities, excluding interest only strips
Debt securities, available-for-sale:
Securities available for sale, amortized cost	7,872	4,385
Securities available for sale, unrealized gains	149	52
Securities available for sale, unrealized losses	(6)	(11)
Securities available for sale, fair value	8,015	4,426
Interest-only strips- AFS
Debt securities, available-for-sale:
Securities available for sale, fair value	$ 32	$ 19

Investment Securities - Sched_2

Investment Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Available-for-sale, Amortized Cost [Abstract]
Within 1 year	$ 756
After 1 year through 5 years	160
After 5 years through 10 years	184
After 10 years	670
Subtotal, Amortized Cost	1,770
Government agency issued MBS and CMO	6,102
Securities available for sale, amortized cost	7,872
Available-for-sale, Fair Value [Abstract]
Within 1 year	758
After 1 year through 5 years	162
After 5 years through 10 years	192
After 10 years	717
Subtotal, Fair Value	1,829
Government agency issued MBS and CMO	6,218
Securities available for sale, fair value	$ 8,047	$ 4,445

Investment Securities - Sched_3

Investment Securities - Schedule Of Investments Within The Available For Sale Portfolio That Had Unrealized Losses (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Unrealized Losses
Fair value, less than 12 months	$ 1,400	$ 656
Unrealized losses, less than 12 months	(6)	(4)
Fair value, 12 months or longer	0	554
Unrealized loss, 12 months or longer	0	(7)
Fair value, total	1,400	1,210
Unrealized losses, total	(6)	(11)
U.S. treasuries
Unrealized Losses
Fair value, less than 12 months	307
Unrealized losses, less than 12 months	0
Fair value, 12 months or longer	0
Unrealized loss, 12 months or longer	0
Fair value, total	307
Unrealized losses, total	0
Government agency issued MBS
Unrealized Losses
Fair value, less than 12 months	426	175
Unrealized losses, less than 12 months	(2)	(1)
Fair value, 12 months or longer	0	193
Unrealized loss, 12 months or longer	0	(2)
Fair value, total	426	368
Unrealized losses, total	(2)	(3)
Government agency issued CMO
Unrealized Losses
Fair value, less than 12 months	586	379
Unrealized losses, less than 12 months	(3)	(2)
Fair value, 12 months or longer	0	361
Unrealized loss, 12 months or longer	0	(5)
Fair value, total	586	740
Unrealized losses, total	(3)	(7)
Other U.S. government agencies
Unrealized Losses
Fair value, less than 12 months	80	98
Unrealized losses, less than 12 months	(1)	(1)
Fair value, 12 months or longer	0	0
Unrealized loss, 12 months or longer	0	0
Fair value, total	80	98
Unrealized losses, total	(1)	(1)
States and municipalities
Unrealized Losses
Fair value, less than 12 months	1	4
Unrealized losses, less than 12 months	0	0
Fair value, 12 months or longer	0	0
Unrealized loss, 12 months or longer	0	0
Fair value, total	1	4
Unrealized losses, total	$ 0	$ 0

Investment Securities - Narrati

Investment Securities - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Abstract]
Proceeds from sales		$ 192,000,000	$ 0
Available-for-sale, accrued interest, after allowance for credit loss	$ 22,000,000
Carrying amount of equity method investments without readily determinable fair value	57,000,000	26,000,000
Unrealized gain (loss) for equity investments with readily determinable fair value	7,000,000	$ (7,000,000)
Debt Securities, Available-for-sale, Realized Loss	$ 4,000,000

Loans and Leases - Narrative (D

Loans and Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued interest	$ 180	$ 85
Loans, net of unearned income	58,232	$ 31,061
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	33,104
Commercial | C&I | Paycheck Protection Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 4,100

Loans and Leases - Schedule Of

Loans and Leases - Schedule Of Loans By Portfolio Segment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 58,232	$ 31,061
Allowance for loan and lease losses	(963)	(200)
Loans and Leases Receivable, Net Amount, Total	57,269	30,861
Loans, net of unearned income	58,232	31,061
Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant, and equipment and finance leases	587
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	33,104	20,051
Allowance for loan and lease losses		(159)
Loans, net of unearned income	33,104
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	33,104	20,051
Commercial | Commercial and industrial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	27,700	15,640
Commercial | Commercial and industrial | Paycheck Protection Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	4,100
Commercial | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	5,404	4,411
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	12,275	4,337
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	11,725	6,177
Consumer | HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	2,420	1,287
Consumer | Real estate installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	9,305	4,890
Consumer | Credit card and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	1,128	$ 496
Loans, net of unearned income	$ 1,128

Loans and Leases - Restrictions

Loans and Leases - Restrictions, Concentrations (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans and leases	$ 57,269	$ 30,861
Loans, net of unearned income	58,232	31,061
Loans, net of unearned income	58,232	31,061
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans pledged to secure potential borrowings	7,800	5,200
Loans, net of unearned income	33,104
Loans, net of unearned income	33,104	20,051
Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	33,104	20,051
Commercial | C&I | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 5,400
Percentage contributed	26.00%
Loans, net of unearned income	$ 5,404	4,411
Commercial | C&I | Finance And Insurance Companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	3,100
Commercial | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	5,404	4,411
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	11,725	6,177
Consumer | Consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	11,725
Loans, net of unearned income	11,725	6,177
Asset Pledged as Collateral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans and leases	$ 38,600	$ 19,200

Loans and Leases - Asset Qualit

Loans and Leases - Asset Quality Indicators (Details) - Commercial	Dec. 31, 2020
Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	16
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	13
Substandard
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	14
Doubtful
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	15
Minimum | PD Grades 1 - 12
Accounts, Notes, Loans and Financing Receivable [Line Items]
Lowest expected default probability	1
Minimum | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	1
Minimum | Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	13
Maximum | Loss
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	16
Maximum | Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	16
Maximum | Commercial Loan P D Grade Twelve [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commercial loan grades	12

Loans and Leases - Balances Of

Loans and Leases - Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 58,232	$ 31,061
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	33,104
Commercial and industrial | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	9,331
2019	5,308
2018	2,812
2017	1,829
2016	1,240
Prior to 2016	2,267
Non-revolving loans	5,404
Revolving Loans	4,793
Revolving loans converted to term loans	120
Finance receivable converted from revolving to term loan	50
Commercial and industrial | Loans to Mortgage Companies | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	5,400
Commercial and industrial | TRUPs | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	210	$ 218
Commercial and industrial | Pass (PD grades 1 through 12) | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	9,081
2019	5,145
2018	2,640
2017	1,762
2016	1,161
Prior to 2016	2,163
Non-revolving loans	5,404
Revolving Loans	4,575
Revolving loans converted to term loans	62
Loans, net of unearned income	31,993
Commercial and industrial | PD Grades 13 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	89
2019	93
2018	70
2017	31
2016	37
Prior to 2016	64
Non-revolving loans	0
Revolving Loans	127
Revolving loans converted to term loans	1
Loans, net of unearned income	512
Commercial and industrial | PD Grades 14 15 16 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	161
2019	70
2018	102
2017	36
2016	42
Prior to 2016	40
Non-revolving loans	0
Revolving Loans	91
Revolving loans converted to term loans	57
Loans, net of unearned income	599
Commercial real estate | CRE | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	2,555
2019	3,348
2018	1,888
2017	1,257
2016	1,044
Prior to 2016	1,887
Revolving Loans	277
Revolving loans converted to term loans	19
Loans, net of unearned income	12,275
Commercial real estate | Pass (PD grades 1 through 12) | CRE | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	2,501
2019	3,311
2018	1,750
2017	1,140
2016	946
Prior to 2016	1,800
Revolving Loans	277
Revolving loans converted to term loans	19
Loans, net of unearned income	11,744
Commercial real estate | PD Grades 13 | CRE | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	48
2019	24
2018	117
2017	75
2016	71
Prior to 2016	54
Revolving Loans	0
Revolving loans converted to term loans	0
Loans, net of unearned income	389
Commercial real estate | PD Grades 14 15 16 | CRE | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	6
2019	13
2018	21
2017	42
2016	27
Prior to 2016	33
Revolving Loans	0
Revolving loans converted to term loans	0
Loans, net of unearned income	$ 142

Loans and Leases - Balances O_2

Loans and Leases - Balances Of Commercial Loan Portfolio Classes, Disaggregated By PD Grade and Sub Class (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance	$ 57,269	$ 30,861
Loans and Leases Receivable, Allowance	963	200
Allowance for loan and lease losses	963	$ 200	$ 180	$ 189
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of total commercial loans (percent)		100.00%
Loans and Leases Receivable, Allowance		$ 159
Collectively evaluated for impairment		$ 24,273
Percent loan collectively evaluated for impairment		100.00%
Charge-offs		$ 152
Individually evaluated for impairment		$ 84
Percent loan individually evaluated for impairment		0.00%
Allowance for credit losses, individually evaluated for impairment		$ 6
Purchased credit-impaired loans		$ 31
Percent loan purchased credit impaired		0.00%
Allowance - purchased credit-impaired loans		$ 1
Total commercial loans		24,388
Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan and lease losses	453	123	99	98
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan and lease losses	242	36	$ 31	$ 28
C&I | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collectively evaluated for impairment		15,532
Individually evaluated for impairment		82
Purchased credit-impaired loans		26
Total commercial loans		15,640
Loans to mortgage companies | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collectively evaluated for impairment		4,411
Individually evaluated for impairment		0
Purchased credit-impaired loans		0
Total commercial loans		4,411
CRE | Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collectively evaluated for impairment		4,330
Individually evaluated for impairment		2
Purchased credit-impaired loans		5
Total commercial loans		4,337
TRUPs | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan and lease losses	$ 18	19
PD Grades 1 - 12 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		$ 23,699
Percent of total commercial loans (percent)		98.00%
Loans and Leases Receivable, Allowance		$ 114
PD Grades 1 - 12 | C&I | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		15,036
PD Grades 1 - 12 | Loans to mortgage companies | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		4,411
PD Grades 1 - 12 | CRE | Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		4,252
PD Grades 13 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		$ 267
Percent of total commercial loans (percent)		1.00%
Loans and Leases Receivable, Allowance		$ 8
PD Grades 13 | C&I | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		233
PD Grades 13 | Loans to mortgage companies | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		0
PD Grades 13 | CRE | Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		34
PD Grades 14 15 16 | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		$ 307
Percent of total commercial loans (percent)		1.00%
Loans and Leases Receivable, Allowance		$ 30
PD Grades 14 15 16 | C&I | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		263
PD Grades 14 15 16 | Loans to mortgage companies | Commercial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		0
PD Grades 14 15 16 | CRE | Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan balance		$ 44

Loans and Leases - Loans by FIC

Loans and Leases - Loans by FICO Score, Consumer (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	$ 58,232	$ 31,061
Consumer real estate | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	1,747
2019	1,670
2018	1,093
2017	920
2016	1,054
Prior to 2016	2,821
Revolving Loans	2,055
Revolving loans converted to term loans	365
Total loans, net of unearned income	11,725
Consumer real estate | Consumer | HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving loans converted to term loans	36
Consumer real estate | Consumer | FICO score 740 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	1,186
2019	1,167
2018	703
2017	610
2016	674
Prior to 2016	1,719
Revolving Loans	1,275
Revolving loans converted to term loans	159
Total loans, net of unearned income	7,493
Consumer real estate | Consumer | FICO score 720-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	157
2019	158
2018	100
2017	77
2016	92
Prior to 2016	197
Revolving Loans	186
Revolving loans converted to term loans	29
Total loans, net of unearned income	996
Consumer real estate | Consumer | FICO score 700-719
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	122
2019	107
2018	78
2017	76
2016	73
Prior to 2016	221
Revolving Loans	177
Revolving loans converted to term loans	34
Total loans, net of unearned income	888
Consumer real estate | Consumer | FICO score 660-699
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	130
2019	141
2018	123
2017	75
2016	85
Prior to 2016	296
Revolving Loans	264
Revolving loans converted to term loans	59
Total loans, net of unearned income	1,173
Consumer real estate | Consumer | FICO score 620-659
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	45
2019	61
2018	37
2017	28
2016	35
Prior to 2016	127
Revolving Loans	92
Revolving loans converted to term loans	36
Total loans, net of unearned income	461
Consumer real estate | Consumer | FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	107
2019	36
2018	52
2017	54
2016	95
Prior to 2016	261
Revolving Loans	61
Revolving loans converted to term loans	48
Total loans, net of unearned income	714
Credit card and other | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	122
2019	91
2018	107
2017	78
2016	63
Prior to 2016	279
Revolving Loans	373
Revolving loans converted to term loans	15
Total loans, net of unearned income	1,128
Credit card and other | Consumer | FICO score 740 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	57
2019	52
2018	59
2017	37
2016	23
Prior to 2016	116
Revolving Loans	159
Revolving loans converted to term loans	5
Total loans, net of unearned income	508
Credit card and other | Consumer | FICO score 720-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	7
2019	7
2018	9
2017	8
2016	8
Prior to 2016	27
Revolving Loans	91
Revolving loans converted to term loans	2
Total loans, net of unearned income	159
Credit card and other | Consumer | FICO score 700-719
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	9
2019	8
2018	9
2017	8
2016	4
Prior to 2016	38
Revolving Loans	37
Revolving loans converted to term loans	3
Total loans, net of unearned income	116
Credit card and other | Consumer | FICO score 660-699
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	30
2019	12
2018	15
2017	9
2016	9
Prior to 2016	48
Revolving Loans	46
Revolving loans converted to term loans	3
Total loans, net of unearned income	172
Credit card and other | Consumer | FICO score 620-659
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	5
2019	5
2018	7
2017	5
2016	10
Prior to 2016	24
Revolving Loans	20
Revolving loans converted to term loans	1
Total loans, net of unearned income	77
Credit card and other | Consumer | FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
2020	14
2019	7
2018	8
2017	11
2016	9
Prior to 2016	26
Revolving Loans	20
Revolving loans converted to term loans	1
Total loans, net of unearned income	$ 96

Loans and Leases - Loans by F_2

Loans and Leases - Loans by FICO Score Percentage, Consumer (Details) - Consumer	Dec. 31, 2019
HELOC | FICO score 740 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	62.00%
HELOC | FICO score 720-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	8.00%
HELOC | FICO score 700-719
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	8.00%
HELOC | FICO score 660-699
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	11.00%
HELOC | FICO score 620-659
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	5.00%
HELOC | FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	6.00%
HELOC | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	100.00%
RE installment loans | FICO score 740 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	72.00%
RE installment loans | FICO score 720-739
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	8.00%
RE installment loans | FICO score 700-719
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	6.00%
RE installment loans | FICO score 660-699
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	8.00%
RE installment loans | FICO score 620-659
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	3.00%
RE installment loans | FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	3.00%
RE installment loans | Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average refreshed FICO score (percent)	100.00%

Loans and Leases - Accruing And

Loans and Leases - Accruing And Non-Accruing Loans By Class (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	$ 58,232	$ 31,061
Allowance for loan and lease losses	963	200	$ 180	$ 189
Loans, net of unearned income	58,232	31,061
Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	57,730	30,841
Total Accruing	57,847	30,899
Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	100	36
Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	17	22
Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	205	100
Total Non-Accruing	386	162
Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	66	20
Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	115	42
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	33,104	20,051
Loans, net of unearned income	33,104
Commercial | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	33,104	20,051
Allowance for loan and lease losses	453	123	99	98
Commercial | Commercial and industrial | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	32,945	19,968
Total Accruing	32,960	19,977
Commercial | Commercial and industrial | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	15	7
Commercial | Commercial and industrial | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	2
Commercial | Commercial and industrial | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	88	36
Total Non-Accruing	144	74
Commercial | Commercial and industrial | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	12	14
Commercial | Commercial and industrial | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	44	24
Commercial | Commercial and industrial | C&I loans, excluding PCI loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	27,700	15,614
Commercial | Commercial and industrial | C&I loans, excluding PCI loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	27,541	15,533
Total Accruing	27,556	15,540
Commercial | Commercial and industrial | C&I loans, excluding PCI loans | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	15	7
Commercial | Commercial and industrial | C&I loans, excluding PCI loans | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Commercial | Commercial and industrial | C&I loans, excluding PCI loans | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	88	36
Total Non-Accruing	144	74
Commercial | Commercial and industrial | C&I loans, excluding PCI loans | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	12	14
Commercial | Commercial and industrial | C&I loans, excluding PCI loans | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	44	24
Commercial | Commercial and industrial | Loans to mortgage companies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	5,404	4,411
Loans, net of unearned income	5,400
Commercial | Commercial and industrial | Loans to mortgage companies | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	5,404	4,411
Total Accruing	5,404	4,411
Commercial | Commercial and industrial | Loans to mortgage companies | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Commercial | Commercial and industrial | Loans to mortgage companies | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Commercial | Commercial and industrial | Loans to mortgage companies | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	0	0
Total Non-Accruing	0	0
Commercial | Commercial and industrial | Loans to mortgage companies | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Commercial | Commercial and industrial | Loans to mortgage companies | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Commercial | Commercial and industrial | TRUPs
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan and lease losses	18	19
Loans, net of unearned income	210	218
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income		26
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		24
Total Accruing		26
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		2
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		0
Total Non-Accruing		0
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial and industrial | C&I Purchase Credit Impaired Loans | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial and industrial | C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	27,700	15,640
Nonaccrual, no allowance	101
Commercial | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	12,275	4,337
Allowance for loan and lease losses	242	36	31	28
Commercial | Commercial real estate | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		4,334
Total Accruing		4,335
Commercial | Commercial real estate | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		1
Commercial | Commercial real estate | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial real estate | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		0
Total Non-Accruing		2
Commercial | Commercial real estate | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		1
Commercial | Commercial real estate | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		1
Commercial | Commercial real estate | CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	12,275	4,332
Commercial | Commercial real estate | CRE | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	12,194	4,329
Total Accruing	12,217	4,330
Commercial | Commercial real estate | CRE | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	23	1
Commercial | Commercial real estate | CRE | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Commercial | Commercial real estate | CRE | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	10	0
Total Non-Accruing	58	2
Commercial | Commercial real estate | CRE | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	42	1
Commercial | Commercial real estate | CRE | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	6	1
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income		5
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		5
Total Accruing		5
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		0
Total Non-Accruing		0
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Commercial | Commercial real estate | CRE Purchase Credit Impaired Loans | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	11,725	6,177
Consumer | Consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	11,725	6,177
Allowance for loan and lease losses	242	28	37	53
Loans, net of unearned income	11,725
Consumer | Consumer real estate | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	11,474	6,048
Total Accruing	11,543	6,091
Consumer | Consumer real estate | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	53	25
Consumer | Consumer real estate | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	16	18
Consumer | Consumer real estate | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	106	64
Total Non-Accruing	182	86
Consumer | Consumer real estate | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	12	5
Consumer | Consumer real estate | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	64	17
Consumer | Consumer real estate | HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	2,420	1,287
Consumer | Consumer real estate | HELOC | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	2,336	1,217
Total Accruing	2,360	1,232
Consumer | Consumer real estate | HELOC | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	13	9
Consumer | Consumer real estate | HELOC | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	11	6
Consumer | Consumer real estate | HELOC | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	43	43
Total Non-Accruing	60	55
Consumer | Consumer real estate | HELOC | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	3	4
Consumer | Consumer real estate | HELOC | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	14	8
Consumer | Consumer real estate | RE installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	9,305	4,865
Consumer | Consumer real estate | RE installment loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	9,138	4,812
Total Accruing	9,183	4,834
Consumer | Consumer real estate | RE installment loans | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	40	13
Consumer | Consumer real estate | RE installment loans | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	5	9
Consumer | Consumer real estate | RE installment loans | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	63	21
Total Non-Accruing	122	31
Consumer | Consumer real estate | RE installment loans | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	9	1
Consumer | Consumer real estate | RE installment loans | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	50	9
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income		25
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		19
Total Accruing		25
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		3
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		3
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		0
Total Non-Accruing		0
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Consumer | Consumer real estate | RE Installment Purchase Credit Impaired Loans | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Consumer | Credit Card and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	1,128	496
Allowance for loan and lease losses	26	13	$ 13	$ 10
Loans, net of unearned income	1,128
Consumer | Credit Card and Other | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	1,117	491
Total Accruing	1,127	496
Consumer | Credit Card and Other | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	9	3
Consumer | Credit Card and Other | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	1	2
Consumer | Credit Card and Other | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	1	0
Total Non-Accruing	2	0
Consumer | Credit Card and Other | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Consumer | Credit Card and Other | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	1	0
Consumer | Credit Card and Other | Credit Card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	283	201
Consumer | Credit Card and Other | Credit Card | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	279	199
Total Accruing	283	201
Consumer | Credit Card and Other | Credit Card | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	3	1
Consumer | Credit Card and Other | Credit Card | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	1	1
Consumer | Credit Card and Other | Credit Card | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	0	0
Total Non-Accruing	0	0
Consumer | Credit Card and Other | Credit Card | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Consumer | Credit Card and Other | Credit Card | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Consumer | Credit Card and Other | Other Consumer Loans Class
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income	845	294
Consumer | Credit Card and Other | Other Consumer Loans Class | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	838	292
Total Accruing	844	294
Consumer | Credit Card and Other | Other Consumer Loans Class | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	6	2
Consumer | Credit Card and Other | Other Consumer Loans Class | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	1
Consumer | Credit Card and Other | Other Consumer Loans Class | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing	1	0
Total Non-Accruing	2	0
Consumer | Credit Card and Other | Other Consumer Loans Class | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	0	0
Consumer | Credit Card and Other | Other Consumer Loans Class | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing	$ 1	0
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans, net of unearned income		1
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		0
Total Accruing		0
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | Non-Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current, Accruing		0
Total Non-Accruing		0
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | Non-Accruing | 30-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		0
Consumer | Credit Card and Other | Other Purchased Credit Impaired Loans | Non-Accruing | 90+ Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due, Accruing		$ 0

Loans and Leases - Collateral-D

Loans and Leases - Collateral-Dependent Loans (Details) $ in Millions	3 Months Ended
	Dec. 31, 2020USD ($)
C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	$ 167
Financing receivable, allowance for credit loss, writeoff, collateral	36
Collateral dependent loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, allowance for credit loss, writeoff, collateral	26
HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	9
RE installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases receivable, collateral for secured borrowings	$ 26

Loans and Leases - Troubled Deb

Loans and Leases - Troubled Debt Restructuring Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings loans	$ 307	$ 206
Loan loss reserves	963	200	$ 180	$ 189
Allowance For TDRs To Recorded Investment Of TDRs
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss reserves	$ 12	$ 20
Ratio of the allowance for loan losses to loans	4.00%	10.00%
Loans Held For Sale, Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Troubled debt restructurings loans	$ 42	$ 51
Consumer | Consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDRS maturities	30 years
Loan loss reserves	$ 242	28	37	53
Consumer | Consumer real estate | Heloc And Real Estate Installment Classes
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR, reduction of interest rate by increment, basis points	25.00%
Modified interest rate increase	2.00%
Consumer | Permanent Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDR, reduction of interest rate by increment, basis points	25.00%
Modified interest rate increase	1.00%
TDRS maturities	40 years
Consumer | Credit Card and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss reserves	$ 26	$ 13	$ 13	$ 10
Consumer | Credit Card and Other | Credit Card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit card workout program, granted rate reduction	0.00%
Minimum | Consumer | Consumer real estate | Heloc And Real Estate Installment Classes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Modified interest rate	1.00%
Modified interest rate time period	5 years
Minimum | Consumer | Permanent Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Modified interest rate	2.00%
Modified interest rate time period	5 years
Minimum | Consumer | Credit Card and Other | Credit Card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment reductions, time period	6 months
Minimum | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forbearance agreements time period	6 months
Maximum | Consumer | Consumer real estate | Heloc And Real Estate Installment Classes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Modified interest rate time period	5 years
Maximum | Consumer | Permanent Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Modified interest rate time period	5 years
Maximum | Consumer | Credit Card and Other | Credit Card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payment reductions, time period	1 year
Credit card workout program, term extension	5 years
Maximum | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forbearance agreements time period	12 months

Loans and Leases - Schedule O_2

Loans and Leases - Schedule Of Troubled Debt Restructurings Occurring During The Year (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	368	267
Pre-Modification Outstanding Recorded Investment	$ 236	$ 35
Post-Modification Outstanding Recorded Investment	$ 228	$ 35
Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	181	178
Pre-Modification Outstanding Recorded Investment	$ 25	$ 20
Post-Modification Outstanding Recorded Investment	$ 24	$ 20
Consumer | Credit card and other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	56	85
Pre-Modification Outstanding Recorded Investment	$ 1	$ 1
Post-Modification Outstanding Recorded Investment	$ 1	$ 1
C&I | Commercial | C&I
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	112	4
Pre-Modification Outstanding Recorded Investment	$ 195	$ 14
Post-Modification Outstanding Recorded Investment	$ 188	$ 14
CRE | Commercial | Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	19	0
Pre-Modification Outstanding Recorded Investment	$ 15	$ 0
Post-Modification Outstanding Recorded Investment	$ 15	$ 0
HELOC | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	64	74
Pre-Modification Outstanding Recorded Investment	$ 5	$ 8
Post-Modification Outstanding Recorded Investment	$ 5	$ 8
RE installment loans | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	117	104
Pre-Modification Outstanding Recorded Investment	$ 20	$ 12
Post-Modification Outstanding Recorded Investment	$ 19	$ 12

Loans and Leases - Trouble Debt

Loans and Leases - Trouble Debt Restructuring modification (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Troubled debt restructurings loans	$ 307	$ 206

Loans and Leases - Schedule O_3

Loans and Leases - Schedule Of Troubled Debt Restructurings Within The Previous 12 Months (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	59	43
Recorded Investment | $	$ 2	$ 1
Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	26	11
Recorded Investment | $	$ 1	$ 1
Consumer | Credit card and other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	24	32
Recorded Investment | $	$ 0	$ 0
C&I | Commercial | C&I
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	9	0
Recorded Investment | $	$ 1	$ 0
HELOC | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	8	7
Recorded Investment | $	$ 0	$ 1
RE installment loans | Consumer | Consumer real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number | loan	18	4
Recorded Investment | $	$ 1	$ 0

Loans and Leases - Loans Acquir

Loans and Leases - Loans Acquired with Deteriorated Credit Quality (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Jul. 17, 2020USD ($)branch	Jul. 01, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par value (UPB)	$ 13,097
Allowance for loan and lease losses	(287)
(Discount) premium	(93)
Purchase price	12,717
SunTrust Banks, Inc. Branches
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of bank branches | branch		30
Loans and leases		$ 423
Finance receivables	423
IBERIABANK (IBKC)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of bank branches | branch		30
Loans and leases	25,900		$ 25,921
C&I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par value (UPB)	4,075
Allowance for loan and lease losses	(138)
(Discount) premium	(64)
Purchase price	3,873
CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par value (UPB)	6,435
Allowance for loan and lease losses	(100)
(Discount) premium	3
Purchase price	6,338
Consumer real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par value (UPB)	2,394
Allowance for loan and lease losses	(44)
(Discount) premium	(32)
Purchase price	2,318
Credit card and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Par value (UPB)	193
Allowance for loan and lease losses	(5)
(Discount) premium	0
Purchase price	$ 188

Loans and Leases - Certain Loan

Loans and Leases - Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Movement Schedule Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning of period	$ 13	$ 16
Accretion	(6)	(10)
Adjustment for payoffs	(2)	(4)
Adjustment for charge-offs	(1)	(1)
Increase/(decrease) in accretable yield	6	13
Other	0	(1)
Balance, end of period	$ 10	$ 13

Loans and Leases - Purchased Cr

Loans and Leases - Purchased Credit Impaired Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for credit losses	$ 503	$ 45	$ 8
Financial Asset Acquired with Credit Deterioration
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance - purchased credit-impaired loans		2
Allowance for loan and lease losses write-offs		6	7
Provision for credit losses		$ 1	$ 1

Loans and Leases - Schedule O_4

Loans and Leases - Schedule Of Acquired Purchase Credit Impaired Loans By Portfolio Segment (Details) $ in Millions	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value	$ 54
Unpaid balance	58
Commercial and industrial | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value	25
Unpaid balance	26
Commercial real estate | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value	5
Unpaid balance	5
Consumer real estate | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value	23
Unpaid balance	26
Credit card and other | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value	1
Unpaid balance	$ 1

Loans and Leases - Information

Loans and Leases - Information By Class Related To Individually Impaired Loans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Recorded Investment
Recorded Investment	$ 247
Unpaid Principal Balance
Unpaid Principal Balance	281
Related Allowance	26
Average Recorded Investment
Average Recorded Investment	270
Interest Income Recognized
Interest Income Recognized	6
Commercial
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	54
Recorded Investment	84
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	65
Unpaid Principal Balance	97
Related Allowance	6
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	72
Average Recorded Investment	89
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	1
Interest Income Recognized	1
Consumer
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	12
Impaired loans with related allowance recorded, Recorded investment	151
Recorded Investment	163
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	20
Impaired loans with related allowance recorded, Unpaid principal balance	164
Unpaid Principal Balance	184
Related Allowance	20
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	15
Impaired loans with related allowance recorded, Average recorded investment	166
Average Recorded Investment	181
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	0
Impaired Financing Impaired loans with related allowance recorded, Interest income recognized	5
Interest Income Recognized	5
Commercial and industrial | Commercial | C&I
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	53
Impaired loans with related allowance recorded, Recorded investment	30
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	64
Impaired loans with related allowance recorded, Unpaid principal balance	32
Related Allowance	6
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	61
Impaired loans with related allowance recorded, Average recorded investment	17
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	1
Impaired Financing Impaired loans with related allowance recorded, Interest income recognized	0
Commercial and industrial | Commercial | Loans to mortgage companies
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	0
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	0
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	9
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	0
Commercial real estate | Commercial | CRE
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	1
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	1
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	2
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	0
Consumer real estate | Consumer | HELOC
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	5
Impaired loans with related allowance recorded, Recorded investment	56
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	10
Impaired loans with related allowance recorded, Unpaid principal balance	59
Related Allowance	7
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	7
Impaired loans with related allowance recorded, Average recorded investment	61
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	0
Impaired Financing Impaired loans with related allowance recorded, Interest income recognized	2
Consumer real estate | Consumer | RE installment loans
Recorded Investment
Impaired loans with no related allowance recorded, Recorded investment	7
Impaired loans with related allowance recorded, Recorded investment	94
Unpaid Principal Balance
Impaired loans with no related allowance recorded, Unpaid principal balance	10
Impaired loans with related allowance recorded, Unpaid principal balance	104
Related Allowance	13
Average Recorded Investment
Impaired loans with no related allowance recorded, Average recorded investment	8
Impaired loans with related allowance recorded, Average recorded investment	104
Interest Income Recognized
Impaired loans with no related allowance recorded, Interest income recognized	0
Impaired Financing Impaired loans with related allowance recorded, Interest income recognized	3
Credit card and other | Consumer
Recorded Investment
Impaired loans with related allowance recorded, Recorded investment	1
Unpaid Principal Balance
Impaired loans with related allowance recorded, Unpaid principal balance	1
Related Allowance	0
Average Recorded Investment
Impaired loans with related allowance recorded, Average recorded investment	1
Interest Income Recognized
Impaired Financing Impaired loans with related allowance recorded, Interest income recognized	$ 0

Allowance for Credit Losses - N

Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan and lease losses		$ 963	$ 200	$ 180	$ 189
IBERIABANK (IBKC)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss, period increase (decrease)	$ 284
COVID-19 Deferrals
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan and lease losses		$ 1

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	$ 200	$ 180	$ 189
Charge-offs	(156)	(59)	(46)
Recoveries	36	32	30
Ending Balance	963	200	180
Loans, net of unearned income	58,232	31,061
Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	489	47	7
Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	6	7	5
Provision for credit losses	14	(1)	2
Initial reserve on loans acquired	41
Ending Balance	85	6	7
Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Loans, net of unearned income	33,104
Commercial | C&I
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	123	99	98
Charge-offs	(129)	(34)	(15)
Recoveries	9	7	4
Ending Balance	453	123	99
Commercial | C&I | PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Charge-offs	(237)
Commercial | C&I | Non-PCD Loans
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	147
Commercial | C&I | Paycheck Protection Plan
Allowance for Loan and Lease Losses [Roll Forward]
Loans, net of unearned income	4,100
Commercial | C&I | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	293	51	12
Commercial | C&I | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	4	4	3
Provision for credit losses	32	0	1
Initial reserve on loans acquired	12
Ending Balance	65	4	4
Commercial | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	36	31	28
Charge-offs	(5)	(1)	(1)
Recoveries	4	1	1
Ending Balance	242	36	31
Commercial | Commercial real estate | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	114	5	3
Commercial | Commercial real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	2	3	2
Provision for credit losses	(19)	(1)	1
Initial reserve on loans acquired	26
Ending Balance	10	2	3
Consumer | Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	28	37	53
Charge-offs	(8)	(8)	(10)
Recoveries	18	20	21
Ending Balance	242	28	37
Loans, net of unearned income	11,725
Consumer | Consumer real estate | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	67	(21)	(27)
Consumer | Consumer real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	0	0	0
Provision for credit losses	1	0	0
Initial reserve on loans acquired	3
Ending Balance	10	0	0
Consumer | Credit card and other
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	13	13	10
Charge-offs	(14)	(16)	(20)
Recoveries	5	4	4
Ending Balance	26	13	13
Loans, net of unearned income	1,128
Consumer | Credit card and other | Funded Commitments
Allowance for Loan and Lease Losses [Roll Forward]
Provision for credit losses	15	12	19
Consumer | Credit card and other | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	0	0	0
Provision for credit losses	0	0	0
Initial reserve on loans acquired	0
Ending Balance	0	0	$ 0
Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	107
Ending Balance		107
Adjustment | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	24
Ending Balance		24
Adjustment | Commercial | C&I
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	19
Ending Balance		19
Adjustment | Commercial | C&I | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	17
Ending Balance		17
Adjustment | Commercial | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	(7)
Ending Balance		(7)
Adjustment | Commercial | Commercial real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	1
Ending Balance		1
Adjustment | Consumer | Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	93
Ending Balance		93
Adjustment | Consumer | Consumer real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	6
Ending Balance		6
Adjustment | Consumer | Credit card and other
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	2
Ending Balance		2
Adjustment | Consumer | Credit card and other | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	0
Ending Balance		0
Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	307
Ending Balance		307
Adjusted Balance | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	30
Ending Balance		30
Adjusted Balance | Commercial | C&I
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	142
Ending Balance		142
Adjusted Balance | Commercial | C&I | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	21
Ending Balance		21
Adjusted Balance | Commercial | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	29
Ending Balance		29
Adjusted Balance | Commercial | Commercial real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	3
Ending Balance		3
Adjusted Balance | Consumer | Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	121
Ending Balance		121
Adjusted Balance | Consumer | Consumer real estate | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	6
Ending Balance		6
Adjusted Balance | Consumer | Credit card and other
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	15
Ending Balance		15
Adjusted Balance | Consumer | Credit card and other | Unfunded Commitment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	0
Ending Balance		$ 0
Financial Asset Acquired with Credit Deterioration
Allowance for Loan and Lease Losses [Roll Forward]
Initial allowance on loans purchased with credit deterioration	287
Additions in allowance for credit loss	287
Financial Asset Acquired with Credit Deterioration | Commercial | C&I
Allowance for Loan and Lease Losses [Roll Forward]
Initial allowance on loans purchased with credit deterioration	138
Financial Asset Acquired with Credit Deterioration | Commercial | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Initial allowance on loans purchased with credit deterioration	100
Financial Asset Acquired with Credit Deterioration | Consumer | Consumer real estate
Allowance for Loan and Lease Losses [Roll Forward]
Initial allowance on loans purchased with credit deterioration	44
Financial Asset Acquired with Credit Deterioration | Consumer | Credit card and other
Allowance for Loan and Lease Losses [Roll Forward]
Initial allowance on loans purchased with credit deterioration	$ 5

Premises, Equipment, and Leas_3

Premises, Equipment, and Leases - Summary of Premises and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Land	$ 182	$ 99
Buildings	594	429
Leasehold improvements	73	50
Furniture, fixtures, and equipment	269	205
Fixed assets held-for-sale	18	10
Total premises and equipment	1,136	793
Less accumulated depreciation and amortization	(377)	(338)
Premises and equipment, net	$ 759	$ 455

Premises, Equipment, and Leas_4

Premises, Equipment, and Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Impairment losses	$ 12	$ 27
Gain/(loss) on sale of properties, before applicable income taxes		$ 2
Direct financing and sale-type lease, interest income	$ 10
Direct financing lease, option to extend, term	12 months
Sales-type lease, option to extend, term	12 months
Minimum
Property, Plant and Equipment [Line Items]
Direct financing lease term	2 years
Sales-type lease term	2 years
Maximum
Property, Plant and Equipment [Line Items]
Direct financing lease term	23 years
Sales-type lease term	23 years

Premises, Equipment, and Leas_5

Premises, Equipment, and Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Operating lease right-of use assets	$ 367	$ 202
Finance lease right-of use assets	4	2
Total Lease Right-of Use Assets	371	204
Operating lease liabilities	407	223
Finance lease liabilities	4	3
Total Lease Liabilities	$ 411	$ 226
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Finance Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities

Premises, Equipment, and Leas_6

Premises, Equipment, and Leases - Weighted Average Remaining Lease Terms and Discount Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Remaining Lease Terms
Weighed average remaining lease terms - operating leases	12 years 5 months 26 days	12 years 4 months 9 days
Weighed average remaining lease terms - finance leases	11 years 5 months 12 days	9 years 7 months 9 days
Weighted Average Discount Rate
Weighted average discount rate - operating leases	2.39%	3.24%
Weighted average discount rate - finance leases	3.05%	4.77%

Premises, Equipment, and Leas_7

Premises, Equipment, and Leases - Lease Expense and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lease cost
Operating lease cost	$ 39	$ 25
Sublease income	(1)	0
Total lease cost	38	25
Other information
(Gain) loss on right-of-use asset impairment - operating leases	6	3
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	41	23
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	216	48
Finance leases	$ 2	$ 1

Premises, Equipment, and Leas_8

Premises, Equipment, and Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
2021	$ 52
2022	49
2023	44
2024	40
2025	38
2026 and thereafter	257
Total lease payments	480
Less lease liability interest	(69)
Total	$ 411	$ 226

Premises, Equipment, and Leas_9

Premises, Equipment, and Leases - Net Investment in Leases (Details) $ in Millions	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Abstract]
Lease receivable	$ 535
Unearned income	(99)
Guaranteed residual	92
Unguaranteed residual	68
Total net investment	$ 596

Premises, Equipment, and Lea_10

Premises, Equipment, and Leases - Maturities of Lease Receivables (Details) $ in Millions	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Abstract]
2021	$ 97
2022	92
2023	75
2024	54
2025	38
2026 and thereafter	179
Total future minimum lease payments	$ 535

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary Of Gross Goodwill And Accumulated Impairment Losses And Write-Offs Detailed By Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 1,433	$ 1,433	$ 1,387
Additions	78	0	46
Goodwill, Ending balance	1,511	1,433	1,433
Regional Banking
Goodwill [Roll Forward]
Goodwill, Beginning balance	802	802	773
Additions	78	0	29
Goodwill, Ending balance	880	802	802
Specialty Banking
Goodwill [Roll Forward]
Goodwill, Beginning balance	631	631	614
Additions	0	0	17
Goodwill, Ending balance	$ 631	$ 631	$ 631

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary Of Intangible Assets and Accumulated Amortization Included In The Consolidated Statements of Condition (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Intangible Assets [Line Items]
Gross Carrying Amount	$ 449	$ 241
Accumulated Amortization	(95)	(110)
Net Carrying Value	354	131
Core deposit intangibles
Intangible Assets [Line Items]
Gross Carrying Amount	371	157
Accumulated Amortization	(81)	(47)
Net Carrying Value	290	110
Client relationships
Intangible Assets [Line Items]
Gross Carrying Amount	37	78
Accumulated Amortization	(8)	(60)
Net Carrying Value	29	18
Other
Intangible Assets [Line Items]
Gross Carrying Amount	41	6
Accumulated Amortization	(6)	(3)
Net Carrying Value	$ 35	$ 3

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) $ in Millions	Jul. 01, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 17, 2020USD ($)branch	Dec. 31, 2017USD ($)
Goodwill [Line Items]
Goodwill		$ 1,511	$ 1,433	$ 1,433		$ 1,387
Purchase accounting gain		533	0	0
Amortization expense		40	$ 25	$ 26
IBERIABANK (IBKC)
Goodwill [Line Items]
Goodwill	$ (533)
Purchase accounting gain	$ 533	533
Number of bank branches | branch					30
IBERIABANK (IBKC) | Core deposit intangibles
Goodwill [Line Items]
Finite-Lived Intangible Assets, Net		207
IBERIABANK (IBKC) | Customer-Related Intangible Assets
Goodwill [Line Items]
Finite-Lived Intangible Assets, Net		14
IBERIABANK (IBKC) | Purchased Credit Card Intangible Assets
Goodwill [Line Items]
Finite-Lived Intangible Assets, Net		10
IBERIABANK (IBKC) | State Banking Licenses
Goodwill [Line Items]
Finite-Lived Intangible Assets, Net		10
SunTrust Banks, Inc. Branches
Goodwill [Line Items]
Goodwill		78			$ 78
Number of bank branches | branch					30
SunTrust Banks, Inc. Branches | Core deposit intangibles
Goodwill [Line Items]
Finite-Lived Intangible Assets, Net		$ 7

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule Of Estimated Aggregate Amortization Expense for Intangible Assets (Details) $ in Millions	Dec. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 56
2022	51
2023	48
2024	44
2025	$ 37

Mortgage Banking Activity - Res

Mortgage Banking Activity - Residential Mortgage Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	$ 57,269	$ 30,861
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Beginning Balance	594
Acquired	320
Originations and purchases	2,499
Sales, net of gains	(2,405)
Mortgage loans transferred to held for investment	(9)
Ending Balance	1,022
First Horizon Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans	55
Mortgage loans
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Beginning Balance	4
Ending Balance	$ 409

Mortgage Banking Activity - Mor

Mortgage Banking Activity - Mortgage Servicing Rights (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mortgage Banking [Line Items]
Gross Carrying Amount	$ 28
Accumulated Amortization	(3)
Net Carrying Amount	25
Mortgage banking and title income	129	$ 10	$ 11
Mortgage banking and title income
Mortgage Banking [Line Items]
Mortgage banking and title income	$ 2

Deposits - Narrative (Details)

Deposits - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Maturities of Time Deposits [Abstract]
Time deposits, at or above FDIC insurance limit	$ 1.4	$ 0.9

Deposits - Composition of Depos

Deposits - Composition of Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Maturities of Time Deposits [Abstract]
Savings	$ 27,324	$ 11,665
Time deposits	5,070	3,618
Other interest-bearing deposits	15,415	8,718
Interest-bearing deposits	47,809	24,001
Noninterest-bearing deposits	22,173	8,429
Total deposits	$ 69,982	$ 32,430

Deposits - Schedule of Maturiti

Deposits - Schedule of Maturities (Details) $ in Millions	Dec. 31, 2020USD ($)
Maturities of Time Deposits [Abstract]
2021	$ 3,952
2022	776
2023	157
2024	91
2025	62
2026	32
Total	$ 5,070

Short-term Borrowings - Narrati

Short-term Borrowings - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Short-term Debt [Line Items]
Federal home loan bank, advances, maturity period	90 days
Fixed Income Securities
Short-term Debt [Line Items]
Securities pledged to secure other short term borrowings	$ 2

Short-term Borrowings - Summary

Short-term Borrowings - Summary of Short-Term Borrowings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt [Line Items]
Short-term borrowings	$ 2,198	$ 3,518
Trading Liabilities
Short-term Debt [Line Items]
Average balance	457	503	$ 683
Short-term borrowings	353	506	335
Maximum month-end outstanding	$ 983	$ 754	$ 891
Average rate for the year	1.24%	2.48%	2.83%
Average rate at year-end	0.77%	2.07%	3.21%
Federal Funds Purchased
Short-term Debt [Line Items]
Average balance	$ 862	$ 738	$ 405
Short-term borrowings	845	548	257
Maximum month-end outstanding	$ 1,487	$ 1,282	$ 503
Average rate for the year	0.34%	2.08%	1.89%
Average rate at year-end	0.10%	1.55%	2.50%
Securities Sold Under Agreements to Repurchase
Short-term Debt [Line Items]
Average balance	$ 1,109	$ 701	$ 714
Short-term borrowings	1,187	717	763
Maximum month-end outstanding	$ 1,661	$ 772	$ 891
Average rate for the year	0.46%	1.89%	1.40%
Average rate at year-end	0.26%	1.72%	1.66%
Other Short-term Borrowings
Short-term Debt [Line Items]
Average balance	$ 626	$ 538	$ 1,047
Short-term borrowings	166	2,253	115
Maximum month-end outstanding	$ 4,061	$ 2,276	$ 2,229
Average rate for the year	0.92%	2.34%	1.82%
Average rate at year-end	0.09%	2.14%	2.48%

Term Borrowings - Schedule of I

Term Borrowings - Schedule of Information Pertaining To Term Borrowings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 1,670	$ 791
Loans, net of unearned income	58,232	31,061
First Horizon Bank | Senior Notes | Maturity date – May 1, 2030 - 5.75% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 447	0
Stated interest rate	5.75%
First Horizon Bank | Collateralized By Loans | 0.52% on December 31, 2020 and 2.19% on December 31, 2019 (b)
Debt Instrument [Line Items]
Term borrowings	$ 82	$ 81
Effective interest rate	0.52%	2.19%
First Horizon Bank | Collateralized By Loans | Other collateralized borrowings - SBA loans
Debt Instrument [Line Items]
Term borrowings	$ 15	$ 22
Debt, weighted average interest rate	3.90%	3.95%
First Horizon Corporation | Senior Notes | Maturity date – December 15, 2020 – 3.50% on December 31, 2019 (d)
Debt Instrument [Line Items]
Term borrowings	$ 0	$ 496
Stated interest rate		3.50%
First Horizon Corporation | Senior Notes | Maturity date – May 26, 2023 - 3.55% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 447	$ 0
Stated interest rate	3.55%
First Horizon Corporation | Senior Notes | Maturity date – May 26, 2025 - 4.00% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 348	0
Stated interest rate	4.00%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 28, 2035 - 1.90% on December 31, 2020 and 3.57% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 3	$ 3
Stated interest rate	1.90%	3.57%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 15, 2035 - 1.59% on December 31, 2020 and 3.26% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 18	$ 18
Stated interest rate	1.59%	3.26%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - March 15, 2036 - 1.62% on December 31, 2020 and 3.29% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 9	$ 9
Stated interest rate	1.62%	3.29%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - March 15, 2036 - 1.76% on December 31, 2020 and 3.43% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 12	$ 12
Stated interest rate	1.76%	3.43%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 30, 2036 - 1.56% on December 31, 2020 and 3.28% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 27	$ 26
Stated interest rate	1.56%	3.28%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - July 7, 2036 - 1.79% on December 31, 2020 and 3.54% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 18	$ 18
Stated interest rate	1.79%	3.54%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 15, 2037 - 1.87% on December 31, 2020 and 3.54% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 51	$ 51
Stated interest rate	1.87%	3.54%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - September 6, 2037 - 1.66% on December 31, 2020 and 3.32% on December 31, 2019
Debt Instrument [Line Items]
Term borrowings	$ 9	$ 9
Stated interest rate	1.66%	3.32%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - July 31, 2031 - 3.51% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 7	$ 0
Stated interest rate	3.51%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - November 15, 2032 - 3.50% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 9	0
Stated interest rate	3.50%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - March 26, 2033 - 3.40% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 5	0
Stated interest rate	3.40%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 17, 2033 - 3.40% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 9	0
Stated interest rate	3.40%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - March 17, 2034 - 3.02% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 6	0
Stated interest rate	3.02%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - September 20, 2034 - 2.25% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 8	0
Stated interest rate	2.25%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - October 7, 2036 - 1.88% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 6	0
Stated interest rate	1.88%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 30, 2036 - 1.84% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 10	0
Stated interest rate	1.84%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - September 15, 2037 - 1.65% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 7	0
Stated interest rate	1.65%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 15, 2037 - 2.97% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 10	0
Stated interest rate	2.97%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - December 15, 2037 - 2.76% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 10	0
Stated interest rate	2.76%
First Horizon Corporation | Junior Subordinated Debt | Maturity date - June 15, 2038 - 3.72% on December 31, 2020
Debt Instrument [Line Items]
Term borrowings	$ 6	0
Stated interest rate	3.72%
First Horizon Corporation | Notes Payable, Other Payables | New Market Tax Credit Investments
Debt Instrument [Line Items]
Term borrowings	$ 45	0
FT Real Estate Securities Company, Inc. | Cumulative Preferred Stock | Maturity date – March 31, 2031 – 9.50%
Debt Instrument [Line Items]
Term borrowings	$ 46	$ 46
Stated interest rate	9.50%	9.50%
Minimum | First Horizon Bank | Collateralized By Loans | Other collateralized borrowings - SBA loans
Debt Instrument [Line Items]
Debt term	2 years
Minimum | First Horizon Corporation | Notes Payable, Other Payables | New Market Tax Credit Investments
Debt Instrument [Line Items]
Stated interest rate	1.27%
Debt term	7 years
Maximum | First Horizon Bank | Collateralized By Loans | Other collateralized borrowings - SBA loans
Debt Instrument [Line Items]
Debt term	24 years
Maximum | First Horizon Corporation | Notes Payable, Other Payables | New Market Tax Credit Investments
Debt Instrument [Line Items]
Stated interest rate	4.95%
Debt term	35 years

Term Borrowings - Schedule of A

Term Borrowings - Schedule of Annual Principal Repayment Requirements (Details) $ in Millions	Dec. 31, 2020USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2021	$ 0
2022	0
2023	450
2024	0
2025 and after	$ 1,274

Term Borrowings - Narrative (De

Term Borrowings - Narrative (Details)	Nov. 30, 2017
Capital Bank Financial Corporation | Junior Subordinated Debt
Debt Instrument [Line Items]
Debt term	30 years

Preferred Stock - Narrative (De

Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2000	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	5,000,000		5,000,000
Preferred stock, shares outstanding (in shares)	26,250
Liquidation Amount	$ 488
Noncontrolling interest	$ 295		$ 295
Preferred stock, shares issued (in shares)	26,250		1,000
LIBOR | Beginning on or after August 1, 2025
Class of Stock [Line Items]
Basis spread on variable rate	4.262%
LIBOR | Beginning on or after May 1, 2026
Class of Stock [Line Items]
Basis spread on variable rate	4.92%
LIBOR | Beginning on or after May 1, 2024
Class of Stock [Line Items]
Basis spread on variable rate	3.859%
Series A
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)	1,000
Liquidation Amount	$ 100
Annual Dividend Rate	6.20%
Series B
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)	8,000
Liquidation Amount	$ 80
Annual Dividend Rate	6.625%
Series C
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)	5,750
Liquidation Amount	$ 58
Annual Dividend Rate	6.60%
Series D
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)	10,000
Liquidation Amount	$ 100
Annual Dividend Rate	6.10%
Series E
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)	1,500
Liquidation Amount	$ 150
Annual Dividend Rate	6.50%
Preferred Class A
Class of Stock [Line Items]
Annual Dividend Rate	3.75%
Liquidation preference per share (in dollars per share)	$ 1,000
Noncontrolling interest	$ 295		$ 295
Preferred stock, shares issued (in shares)	300,000
Preferred Class A | LIBOR
Class of Stock [Line Items]
Basis spread on variable rate	0.85%
Preferred Class B | FT Real Estate Securities Company, Inc.
Class of Stock [Line Items]
Annual Dividend Rate		9.50%
Stock issued (in shares)		50
Liquidation preference per share (in dollars per share)		$ 1,000,000
Preferred Class B | Non Affiliates | FT Real Estate Securities Company, Inc.
Class of Stock [Line Items]
Stock issued (in shares)		47

Preferred Stock - Non-Cumulativ

Preferred Stock - Non-Cumulative Perpetual Preferred Stock (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Liquidation Amount	$ 488
Carrying Amount, Issued	$ 470	$ 96
Preferred stock, shares outstanding (in shares)	26,250
Beginning on or after August 1, 2025 | LIBOR
Class of Stock [Line Items]
Basis spread on variable rate	4.262%
Beginning on or after May 1, 2026 | LIBOR
Class of Stock [Line Items]
Basis spread on variable rate	4.92%
Beginning on or after May 1, 2024 | LIBOR
Class of Stock [Line Items]
Basis spread on variable rate	3.859%
Series A
Class of Stock [Line Items]
Annual Dividend Rate	6.20%
Liquidation Amount	$ 100
Carrying Amount, Issued	$ 96	96
Preferred stock, shares outstanding (in shares)	1,000
Series B
Class of Stock [Line Items]
Annual Dividend Rate	6.625%
Liquidation Amount	$ 80
Carrying Amount, Issued	$ 77	0
Preferred stock, shares outstanding (in shares)	8,000
Series C
Class of Stock [Line Items]
Annual Dividend Rate	6.60%
Liquidation Amount	$ 58
Carrying Amount, Issued	$ 59	0
Preferred stock, shares outstanding (in shares)	5,750
Series D
Class of Stock [Line Items]
Annual Dividend Rate	6.10%
Liquidation Amount	$ 100
Carrying Amount, Issued	$ 93	0
Preferred stock, shares outstanding (in shares)	10,000
Series E
Class of Stock [Line Items]
Annual Dividend Rate	6.50%
Liquidation Amount	$ 150
Carrying Amount, Issued	$ 145	$ 0
Preferred stock, shares outstanding (in shares)	1,500

Regulatory Capital and Restri_3

Regulatory Capital and Restrictions - Schedule of Actual Capital Amounts and Ratios (Details) $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
First Horizon Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital, Actual Amount	$ 7,935	$ 4,155
Total Capital, Actual Ratio	0.1257	0.1122
Tier 1 Capital, Actual Amount	$ 6,782	$ 3,761
Tier 1 Capital, Actual Ratio	0.1074	0.1015
Common Equity Tier 1 Capital, Actual Amount	$ 6,110	$ 3,409
Common Equity Tier 1 Capital, Actual Ratio	9.68%	9.20%
Leverage, Actual Amount	$ 6,782	$ 3,761
Leverage, Actual Ratio	0.0824	0.0904
Total Capital, Capital Adequacy purposes, Amount	$ 5,051	$ 2,964
Total Capital, Capital Adequacy Purposes, Ratio	0.0800	0.0800
Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 3,788	$ 2,223
Tier 1 Capital, Capital Adequacy Purposes, Ratio	0.0600	0.0600
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 2,841	$ 1,667
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Ratio	4.50%	4.50%
Leverage, Capital Adequacy Purposes, Amount	$ 3,294	$ 1,663
Leverage, Capital Adequacy purposes, Ratio	0.0400	0.0400
First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital, Actual Amount	$ 7,819	$ 3,945
Total Capital, Actual Ratio	0.1252	0.1077
Tier 1 Capital, Actual Amount	$ 6,825	$ 3,729
Tier 1 Capital, Actual Ratio	0.1093	0.1018
Common Equity Tier 1 Capital, Actual Amount	$ 6,530	$ 3,434
Common Equity Tier 1 Capital, Actual Ratio	10.46%	9.38%
Leverage, Actual Amount	$ 6,825	$ 3,729
Leverage, Actual Ratio	0.0836	0.0912
Total Capital, Capital Adequacy purposes, Amount	$ 5,001	$ 2,930
Total Capital, Capital Adequacy Purposes, Ratio	0.0800	0.0800
Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 3,751	$ 2,198
Tier 1 Capital, Capital Adequacy Purposes, Ratio	0.0600	0.0600
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Amount	$ 2,813	$ 1,648
Common Equity Tier 1 Capital, Capital Adequacy Purposes, Ratio	4.50%	4.50%
Leverage, Capital Adequacy Purposes, Amount	$ 3,268	$ 1,635
Leverage, Capital Adequacy purposes, Ratio	0.0400	0.0400
Total Capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 6,251	$ 3,663
Total Capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.1000	0.1000
Tier 1 Capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 5,001	$ 2,930
Tier 1 Capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800	0.0800
Common Equity Tier 1 Capital. To Be Well Capitalized Under Prompt Corrective Action, Amount	$ 4,063	$ 2,381
Common Equity Tier 1 Capital. To Be Well Capitalized Under Prompt Corrective Action, Ratio	6.50%	6.50%
Leverage, To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 4,085	$ 2,043
Leverage, To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.0500

Regulatory Capital and Restri_4

Regulatory Capital and Restrictions - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jan. 01, 2021USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings	$ 2,261	$ 1,798
Dividend paid to parent company	$ 180	$ 345
First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 Capital, Actual Ratio	0.1093	0.1018
Retained earnings	$ 1,800
Percent of capital stock and surplus threshold for credit extension to parent and certain financial subsidiaries	10.00%
Maximum amount of credit bank may extend to parent and certain financial institutions	$ 804
Covered transactions	$ 1
Percent of capital stock and surplus threshold for credit extension to affiliates	20.00%
Maximum amount of credit bank may extend to all affiliates	$ 1,600
FHN Financial Securities Corp.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	394
First Horizon Advisors, Inc.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	42
All Affiliates Member
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Covered transactions	436
Minimum | First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash reserve required		$ 396
Vault cash included in cash reserves	$ 397
Subsequent Event | First Horizon Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Positive (negative) amount available for dividend payments			$ 897

Components of Other Comprehen_3

Components of Other Comprehensive Income (Loss) - Schedule of Changes in AOCI (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		$ 5,076	$ 4,786	$ 4,581
Net unrealized gains (losses)		92	126	(64)
Amounts reclassified from AOCI		7	11	11
Other comprehensive income (loss)		99	137	(53)
Ending balance		8,307	5,076	4,786
Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(96)	(1)
Ending balance			(96)	(1)
Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		4,980	4,785	4,581
Ending balance			4,980	4,785
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	[1]	(239)	(376)	(265)
Other comprehensive income (loss)	[1]	99	137	(53)
Ending balance	[1]	(140)	(239)	(376)
Balance, as adjusted for ASU					$ (323)
Accumulated Other Comprehensive Income (Loss) | Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	[1]			(58)
Accumulated Other Comprehensive Income (Loss) | Adjusted Balance
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	[1]	(239)	(376)	(323)
Ending balance	[1]		(239)	(376)
Securities AFS
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		31	(76)	(22)
Net unrealized gains (losses)		74	107	(49)
Amounts reclassified from AOCI		3	0	0
Other comprehensive income (loss)		77	107	(49)
Ending balance		108	31	(76)
Balance, as adjusted for ASU					(27)
Securities AFS | Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance				(5)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		3	(12)	(6)
Net unrealized gains (losses)		15	11	(6)
Amounts reclassified from AOCI		(6)	4	2
Other comprehensive income (loss)		9	15	(4)
Ending balance		12	3	(12)
Balance, as adjusted for ASU					(8)
Cash Flow Hedges | Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance				(2)
Pension and Post-retirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance		(273)	(288)	(237)
Net unrealized gains (losses)		3	8	(9)
Amounts reclassified from AOCI		10	7	9
Other comprehensive income (loss)		13	15	0
Ending balance		$ (260)	$ (273)	(288)
Balance, as adjusted for ASU					$ (288)
Pension and Post-retirement Plans | Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance				$ (51)
[1]	Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of Other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.

Components of Other Comprehen_4

Components of Other Comprehensive Income (Loss) - Schedule of Reclassification from AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Realized (gains) losses on cash flow hedges	$ 1,722	$ 1,394	$ 1,286
Amortization of prior service cost and net actuarial (gain) loss	172	150	183
Income tax expense	76	134	157
Total reclassification from AOCI	(857)	(452)	(557)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total reclassification from AOCI	7	11	11
Reclassification out of Accumulated Other Comprehensive Income | Securities AFS
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Realized (gains) losses on securities AFS	4	0	0
Income tax expense	(1)	0	0
Total reclassification from AOCI	3	0	0
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Realized (gains) losses on cash flow hedges	(8)	5	3
Income tax expense	2	(1)	(1)
Total reclassification from AOCI	(6)	4	2
Reclassification out of Accumulated Other Comprehensive Income | Pension and Post-retirement Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amortization of prior service cost and net actuarial (gain) loss	13	10	12
Income tax expense	(3)	(3)	(3)
Total reclassification from AOCI	$ 10	$ 7	$ 9

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Consolidated Statements of Income and Equity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 76	$ 134	$ 157
Net unrealized gains (losses) on pension and other postretirement plans	3	5	0
Net unrealized gains (losses) on securities available for sale	25	35	(16)
Net unrealized gains (losses) on cash flow hedges	3	5	(1)
Total	$ 107	$ 179	$ 140

Income Taxes - Schedule of Co_2

Income Taxes - Schedule of Components of Income Tax Expense/(Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 80	$ 106	$ 43
State	14	14	10
Deferred:
Federal	(15)	5	82
State	(3)	9	22
Total	$ 76	$ 134	$ 157

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax [Line Items]
Tax Act, tax benefit			$ (7)
Net deferred tax assets	$ 0	$ 69
Deferred tax assets after valuation allowance	471
Gross deferred tax liabilities	471	181
Unrecognized tax benefits	70	24	$ 20
Unrecognized tax benefits that would impact effective tax rate	29
Interest and income taxes accrued	11	3
Penalties and interest expense	8	$ 1
Domestic Tax Authority
Income Tax [Line Items]
Deferred tax assets after valuation allowance	47
Decrease in unrecognized tax benefits is reasonably possible	44
State and Local Jurisdiction
Income Tax [Line Items]
Deferred tax assets after valuation allowance	9
Decrease in unrecognized tax benefits is reasonably possible	$ 7

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal income tax rate	21.00%	21.00%	21.00%
Tax computed at statutory rate	$ 196	$ 123	$ 151
Increase (decrease) resulting from:
State income taxes, net of federal income tax benefit	9	15	25
Bank-owned life insurance	(6)	(5)	(4)
401(k) – employee stock ownership plan	(1)	(1)	(1)
Tax-exempt interest	(8)	(6)	(7)
Non-deductible expenses	13	11	8
LIHTC credits and benefits, net of amortization	(9)	(4)	(7)
Other tax credits	(5)	0	(3)
Other changes in unrecognized tax benefits	(9)	4	6
Purchase accounting gain	(112)	0	0
Effect of TCJA	0	0	(7)
Other	8	(3)	(4)
Total	$ 76	$ 134	$ 157

Income Taxes - Schedule of Oper

Income Taxes - Schedule of Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Tax Credit Carryforward [Line Items]
Deferred tax assets after valuation allowance	$ 471
Federal loss carryforwards	44	$ 44
State loss carryforwards	9	$ 1
Domestic Tax Authority
Tax Credit Carryforward [Line Items]
Deferred tax assets after valuation allowance	47
Domestic Tax Authority | Expiring 2026-2035
Tax Credit Carryforward [Line Items]
Federal loss carryforwards	44
Domestic Tax Authority | Expiring 2040
Tax Credit Carryforward [Line Items]
Federal loss carryforwards	3
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Deferred tax assets after valuation allowance	9
State and Local Jurisdiction | Expiring 2026-2040
Tax Credit Carryforward [Line Items]
State loss carryforwards	$ 9

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Loss reserves	$ 205	$ 58
Employee benefits	86	68
Accrued expenses	7	4
Lease liability	100	56
Federal loss carryforwards	44	44
State loss carryforwards	9	1
Other	20	19
Gross deferred tax assets	471	250
Deferred tax liabilities:
Depreciation and amortization	83	51
Investment in debt securities liabilities (ASC 320)	35	10
Equity investments	11	4
Other intangible assets	93	56
Prepaid expenses	15	10
ROU lease asset	89	50
Leasing	135	0
Other	10	0
Gross deferred tax liabilities	471	181
Net deferred tax assets	$ 0	$ 69

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 24	$ 20
Increases related to prior year tax positions	56	3
Increases related to current year tax positions	1	2
Settlements	(10)
Lapse of statutes	(1)	(1)
Ending balance	$ 70	$ 24

Earnings Per Share - Schedule O

Earnings Per Share - Schedule Of Reconciliation Of Net Income/(Loss) to Net Income/(Loss) Available to Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net income	$ 857	$ 452	$ 557
Net income attributable to noncontrolling interest	12	11	12
Net income attributable to controlling interest	845	441	545
Preferred stock dividends	23	6	6
Net income available to common shareholders	$ 822	$ 435	$ 539
Weighted average common shares outstanding - basic (in shares)	432,125	313,637	324,375
Effect of dilutive securities (in shares)	1,829	2,020	3,070
Weighted average common shares outstanding - diluted (in shares)	433,954	315,657	327,445
Net income/(loss) per share available to common shareholders (in dollars per share)	$ 1.90	$ 1.39	$ 1.66
Diluted income/(loss) per share available to common shareholders (in dollars per share)	$ 1.89	$ 1.38	$ 1.65

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule Of Anti-Dilutive Options and Awards (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average exercise price of stock options excluded from the calculation of diluted EPS (in dollars per share)	$ 17.47	$ 21.12	$ 24.33
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from the calculation of diluted EPS (in shares)	4,595	2,359	2,256
Other Equity Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from the calculation of diluted EPS (in shares)	3,639	2,224	608

Contingencies and Other Discl_2

Contingencies and Other Disclosures (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Estimated litigation liability	$ 1
Accrued losses on loan repurchase exposure	$ 16	$ 15

Pension, Savings, and Other E_3

Pension, Savings, and Other Employee Benefits - Pension Plan and Savings Plan, Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Minimum required outstanding par value to each issue of bonds	$ 300,000,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, benefit obligation	893,000,000	$ 836,000,000	$ 765,000,000
Fair value of plan assets	896,000,000	826,000,000	731,000,000
Employer contributions	$ 4,000,000	3,000,000
Qualified pension | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Estimated social security benefits age	65 years
Nonqualified pension | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected pension contribution	$ 5,000,000
Nonqualified pension | Pension Benefits | Forecast
Defined Benefit Plan Disclosure [Line Items]
Expected pension contribution				$ 5,000,000
Flexible Benefits Contribution
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 37,000,000	$ 28,000,000	$ 29,000,000
Qualified pension/ postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Expected time horizon	30 years
Defined benefit plan assumptions used calculating benefit obligation expected long term return on assets	3.45%
Qualified pension/ postretirement benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Term used for assumption calculation	30 years
Postretirement benefit (retirees prior to January 1, 1993)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation expected long term return on assets	0.90%
Postretirement benefit (retirees post January 1, 1993)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation expected long term return on assets	6.40%
Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Employer investment in qualified defined contribution plan	100.00%
Maximum percent of employee pre-tax contributions that may be matched by the Company (percent)	6.00%

Pension, Savings, and Other E_4

Pension, Savings, and Other Employee Benefits - Schedule of Assumptions Used in the Defined Benefit Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Minimum required outstanding par value to each issue of bonds	$ 300,000,000
Qualified pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	2.63%	3.31%	4.43%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	3.31%	4.43%	3.75%
Nonqualified pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	2.24%	3.08%	4.26%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	3.08%	4.26%	3.59%
Other nonqualified pension
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	1.41%	2.57%	3.83%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	2.57%	3.83%	3.19%
Postretirement benefits | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	1.92%	2.85%	4.03%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	2.87%	4.04%	3.35%
Postretirement benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating benefit obligation, discount rate	2.81%	3.44%	4.56%
Defined benefit plan assumptions used calculating net periodic benefit cost, discount rate	3.44%	4.56%	3.87%
Qualified pension/ postretirement benefits
Defined Benefit Plan Disclosure [Line Items]
Expected time horizon	30 years
Defined benefit plan assumptions used calculating net periodic benefit cost, expected long-term rate of return on plan assets	3.45%	4.80%	4.20%
Qualified pension/ postretirement benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Term used for assumption calculation	30 years
Postretirement benefit (retirees post January 1, 1993)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating net periodic benefit cost, expected long-term rate of return on plan assets	6.40%	6.85%	5.95%
Postretirement benefit (retirees prior to January 1, 1993)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan assumptions used calculating net periodic benefit cost, expected long-term rate of return on plan assets	0.90%	0.05%	2.15%

Pension, Savings, and Other E_5

Pension, Savings, and Other Employee Benefits - Projected Benefit Obligation Affected by Interest Crediting Ratings (Details) - Pension Benefits $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)pension_plan	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of plans affected by interest credit ratings | pension_plan	1
Defined benefit plan, benefit obligation | $	$ 15	$ 16	$ 17
Interest crediting rate	8.20%	9.66%	10.12%

Pension, Savings, and Other E_6

Pension, Savings, and Other Employee Benefits - Schedule Of Components Of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 24	$ 30	$ 28
Expected return on plan assets	(26)	(37)	(33)
Actuarial (gain) loss	13	10	12
Net periodic benefit cost	11	3	7
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1	1
Expected return on plan assets	(1)	(1)	(1)
Actuarial (gain) loss	0	0	0
Net periodic benefit cost	$ 0	$ 0	$ 0

Pension, Savings, and Other E_7

Pension, Savings, and Other Employee Benefits - Schedule of Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Change in benefit obligation
Benefit obligation, beginning of year	$ 836	$ 765
Interest cost	24	30	$ 28
Plan amendments	0	0
Actuarial (gain)/loss	70	103
Actual benefits paid	(37)	(38)
Premium paid for annuity purchase	0	(24)
Benefit obligation, end of year	893	836	765
Change in plan assets
Fair value of plan assets, beginning of year	826	731
Actual return on plan assets	103	154
Employer contributions	4	3
Actual benefits paid – settlement payments	(36)	0
Actual benefits paid – other payments	(1)	(38)
Premium paid for annuity purchase	0	(24)
Fair value of plan assets, end of year	896	826	731
Funded (unfunded) status of the plans	3	(10)
Amounts recognized in the Balance Sheets
Other assets	40	27
Other liabilities	(37)	(37)
Net asset (liability) at end of year	3	(10)
Other Benefits
Change in benefit obligation
Benefit obligation, beginning of year	42	35
Interest cost	1	1	1
Plan amendments	0	1
Actuarial (gain)/loss	4	7
Actual benefits paid	(1)	(2)
Premium paid for annuity purchase	0	0
Benefit obligation, end of year	46	42	35
Change in plan assets
Fair value of plan assets, beginning of year	20	18
Actual return on plan assets	3	3
Employer contributions	1	1
Actual benefits paid – settlement payments	(1)	(2)
Actual benefits paid – other payments	0	0
Premium paid for annuity purchase	0	0
Fair value of plan assets, end of year	23	20	$ 18
Funded (unfunded) status of the plans	(23)	(22)
Amounts recognized in the Balance Sheets
Other assets	20	18
Other liabilities	(43)	(40)
Net asset (liability) at end of year	$ (23)	$ (22)

Pension, Savings, and Other E_8

Pension, Savings, and Other Employee Benefits - Funded (Unfunded) Status of Plan (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 37	$ 37
Funded status of the plans	3	(10)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	43	39
Funded status of the plans	(23)	(22)
Qualified pension | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Funded status of the plans	$ 41	$ 27

Pension, Savings, and Other E_9

Pension, Savings, and Other Employee Benefits - Schedule of Balances Reflected in AOCI On a Pre-Tax Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial (gain) loss	$ 342	$ 363
Other Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net actuarial (gain) loss	$ 1	$ (2)

Pension, Savings, and Other _10

Pension, Savings, and Other Employee Benefits - Schedule of Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net actuarial (gain) loss arising during measurement period	$ (8)	$ (14)
Items amortized during the measurement period:
Actuarial (gain)/loss	(13)	(10)
Total recognized in other comprehensive income	(21)	(24)
Other Benefits
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net actuarial (gain) loss arising during measurement period	3	5
Items amortized during the measurement period:
Actuarial (gain)/loss	0	0
Total recognized in other comprehensive income	$ 3	$ 5

Pension, Savings, and Other _11

Pension, Savings, and Other Employee Benefits - Schedule of Expected Benefit Payment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Threshold amortization percentage of projected benefit obligation	10.00%
Threshold amortization, percentage of market-related value of plan assets	10.00%
Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	$ 41
2022	41
2023	43
2024	44
2025	45
2026-2030	231
Other Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	2
2022	2
2023	2
2024	2
2025	2
2026-2030	$ 12

Pension, Savings, and Other _12

Pension, Savings, and Other Employee Benefits - Schedule of Fair Value of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 896	$ 826	$ 731
Cash equivalents and money market funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	23	9
U.S. treasuries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	6	5
Corporate, municipal and foreign bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	488	515
Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	379	297
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	23	9
Level 1 | Cash equivalents and money market funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	23	9
Level 1 | U.S. treasuries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 1 | Corporate, municipal and foreign bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 1 | Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	873	817
Level 2 | Cash equivalents and money market funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 2 | U.S. treasuries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	6	5
Level 2 | Corporate, municipal and foreign bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	488	515
Level 2 | Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	379	297
Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 3 | Cash equivalents and money market funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 3 | U.S. treasuries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 3 | Corporate, municipal and foreign bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 3 | Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 0	$ 0

Pension, Savings, and Other _13

Pension, Savings, and Other Employee Benefits - Schedule of Retiree Medical Plan Assets By Asset Category (Details) - Other Benefits - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 23	$ 20	$ 18
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	23	20
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Equity mutual funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	15	13
Equity mutual funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	15	13
Equity mutual funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Equity mutual funds | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Fixed income mutual funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	8	7
Fixed income mutual funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	8	7
Fixed income mutual funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	0	0
Fixed income mutual funds | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 0	$ 0

Stock Options, Restricted Sto_3

Stock Options, Restricted Stock, and Dividend Reinvestment Plans - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	2,610,929
Award vesting period	3 years
Payment deferral period	2 years
Percent of performance condition achieved	100.00%
Value of annual equity awards to non employee directors	$ 85,000	$ 85,000
Total intrinsic value of options exercised	$ 3,000,000	$ 4,000,000	$ 3,000,000
Stock options granted or converted (in shares)	4,182,737	530,787	394,296
Grants in period, weighted average grant date fair value (in dollars per share)	$ 2.13	$ 2.69	$ 3.89
Stock-based compensation expense	$ 32,000,000	$ 22,000,000	$ 23,000,000
Total income tax benefits recognized	$ 8,000,000	6,000,000	6,000,000
Value Of Annual Equity Awards To Non Employee Directors, Future Periods				$ 122,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	0
Nonvested Restricted Stock Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 38,000,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 6 months
Total grant date fair value of shares vested	$ 24,000,000	$ 15,000,000	$ 13,000,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 1,000,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years 7 months 6 days
Employee Stock Option | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	7 years
Employee Stock Option | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Employee Stock Option | Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Employee Stock Option | Tranche 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	20 years
Phantom Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	659,597
Equity Compensation Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for new awards (in shares)	3,115,117
Number of shares available for grant (in shares)	2,311,791
Performance Condition Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Duration of performance evaluation		3 years	3 years
Performance Condition Awards | PSUs Granted After 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Post vest holding period	2 years
Percent of performance condition achieved	104.20%
Market Condition Award | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	7 years
Dividend Reinvestment Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly value of shares available for purchase under dividend reinvestment and stock purchase plan	$ 25
Dividend Reinvestment Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly value of shares available for purchase under dividend reinvestment and stock purchase plan	$ 10,000
Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for new awards (in shares)	10,558,375
Number of shares available for grant (in shares)	5,279,187

Stock Options, Restricted Sto_4

Stock Options, Restricted Stock, and Dividend Reinvestment Plans - Summary of Restricted and Performance Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares/ Units:
Beginning balance (in shares)	4,709,987
Shares/units converted from IBKC (in shares)	2,663,116
Shares/units granted (in shares)	2,610,929
Shares/units vested (in shares)	(1,551,877)
Shares/units cancelled (in shares)	(161,939)
Ending balance (in shares)	8,270,216	4,709,987
Weighted average grant date fair value (per share)
Nonvested beginning balance (in dollars per share)	$ 16.25
Shares/units converted from IBKC (in dollars per share)	9.40
Shares/units granted (in dollars per share)	9.89	$ 16.25	$ 18.70
Shares/units vested (in dollars per share)	15.15
Shares/units canceled (in dollars per share)	12.55
Nonvested ending balance (in dollars per share)	$ 12.47	$ 16.25
Percent of performance achieved for nonvested performance units	100.00%

Stock Options, Restricted Sto_5

Stock Options, Restricted Stock, and Dividend Reinvestment Plans - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Options Outstanding
Beginning of period, outstanding (in shares) | shares	4,931,781
Converted IBKC (in shares) | shares	3,597,856
Options granted (in shares) | shares	584,881
Options exercised (in shares) | shares	(597,686)
Options expired/cancelled (in shares) | shares	(767,750)
End of period, outstanding (in shares) | shares	7,749,082
Options exercisable (in shares) | shares	5,766,528
Options expected to vest (in shares) | shares	1,982,554
Weighted Average Exercise Price (per share)
Beginning of period, weighted average exercise price (in dollars per share) | $ / shares	$ 15.61
Converted IBKC (in dollars per share) | $ / shares	14.39
Options granted, weighted average exercise price (in dollars per share) | $ / shares	15.90
Options exercised, weighted average exercise price (in dollars per share) | $ / shares	11.55
Options expired/cancelled, weighted average exercise price (in dollars per share) | $ / shares	17.44
End of period, weighted average exercise price (in dollars per share) | $ / shares	15.20
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	15.02
Options expected to vest, weighted average exercise price (in dollars per share) | $ / shares	$ 15.70
Outstanding, weighted average contractual term	3 years 10 months 6 days
Outstanding, aggregate intrinsic value | $	$ 5,000
Options exercisable, weighted average contractual term	3 years 1 month 28 days
Options exercisable, aggregate intrinsic value | $	$ 4,000
Options expected to vest, weighted average remaining contractual term	5 years 10 months 9 days
Options expected to vest, aggregate intrinsic value | $	$ 0

Stock Options, Restricted Sto_6

Stock Options, Restricted Stock, and Dividend Reinvestment Plans - Summary of Assumptions to Estimate the Fair Value of Stock Options (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility range, minimum	23.32%	23.07%	23.95%
Expected volatility range, maximum	24.56%	26.45%	25.26%
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	3.77%	3.63%	2.57%
Expected weighted-average lives of options granted	6 years 3 months	6 years 2 months 26 days	6 years 2 months 15 days
Expected weighted-average volatility	23.94%	24.76%	24.61%
Risk-free interest rate	1.47%	2.53%	2.69%

Business Segment Information -

Business Segment Information - Amounts of Consolidated Revenue, Expense, Tax and Assets (Details) - USD ($) $ in Millions	Jul. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net interest income		$ 1,662	$ 1,210	$ 1,220
Provision for credit losses		503	45	8
Noninterest income		1,492	654	723
Noninterest expense		1,718	1,233	1,221
Income before income taxes		933	586	714
Income tax expense		76	134	157
Net income		857	452	557
Average assets		64,346	41,744	40,225
Depreciation and amortization		46	65	59
Expenditures for long-lived assets		379	49	38
Purchase accounting gain		533	0	0
Expenses associated with rebranding initiatives			21
Charitable foundation contributions		41	11
IBERIABANK (IBKC)
Segment Reporting Information [Line Items]
Purchase accounting gain	$ 533	533
Regional Banking
Segment Reporting Information [Line Items]
Net interest income		1,307	773	815
Provision for credit losses		392	24	4
Noninterest income		343	289	264
Noninterest expense		900	626	707
Income before income taxes		358	412	368
Income tax expense		77	94	82
Net income		281	318	286
Average assets		31,802	18,252	17,263
Depreciation and amortization		(46)	22	18
Expenditures for long-lived assets		283	29	36
Purchase accounting gain		0
Specialty Banking
Segment Reporting Information [Line Items]
Net interest income		583	444	417
Provision for credit losses		117	37	15
Noninterest income		576	318	210
Noninterest expense		491	351	302
Income before income taxes		551	374	310
Income tax expense		134	93	76
Net income		417	281	234
Average assets		19,713	15,508	14,420
Depreciation and amortization		3	14	19
Expenditures for long-lived assets		6	4	2
Purchase accounting gain		0
Corporate
Segment Reporting Information [Line Items]
Net interest income		(228)	(7)	(12)
Provision for credit losses		(6)	(16)	(11)
Noninterest income		573	47	249
Noninterest expense		327	256	212
Income before income taxes		24	(200)	36
Income tax expense		(135)	(53)	(1)
Net income		159	(147)	37
Average assets		12,831	7,984	8,542
Depreciation and amortization		89	29	22
Expenditures for long-lived assets		90	$ 16	0
Purchase accounting gain		$ 533
Visa Class B Shares
Segment Reporting Information [Line Items]
Gain on sale of investments				$ 213

Business Segment Information _2

Business Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Millions	Jul. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Fixed income		$ 423	$ 279	$ 168
Deposit transactions and cash management		148	132	133
Mortgage banking and title income		129	10	11
Brokerage, management fees and commissions		66	55	55
Trust services and investment management		39	30	30
Bankcard income		37	28	29
Securities gains (losses), net		(6)	0	213
Purchase accounting gain		533	0	0
Other income		123	120	84
Total noninterest income		1,492	654	723
IBERIABANK (IBKC)
Disaggregation of Revenue [Line Items]
Purchase accounting gain	$ 533	533
Visa Class B Shares
Disaggregation of Revenue [Line Items]
Gain on sale of investments				213
Underwriting, Portfolio Advisory, and Other Noninterest Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer		39	34	29
Regional Banking
Disaggregation of Revenue [Line Items]
Fixed income		1	0	0
Deposit transactions and cash management		131	114	110
Mortgage banking and title income		0	0	0
Brokerage, management fees and commissions		66	55	55
Trust services and investment management		39	30	30
Bankcard income		34	26	28
Securities gains (losses), net		0		0
Purchase accounting gain		0
Other income		72	64	41
Total noninterest income		343	289	264
Specialty Banking
Disaggregation of Revenue [Line Items]
Fixed income		422	278	164
Deposit transactions and cash management		11	11	17
Mortgage banking and title income		128	8	8
Brokerage, management fees and commissions		0	0	0
Trust services and investment management		0	0	0
Bankcard income		2	2	1
Securities gains (losses), net		0		0
Purchase accounting gain		0
Other income		13	19	20
Total noninterest income		576	318	210
Corporate
Disaggregation of Revenue [Line Items]
Fixed income		0	1	4
Deposit transactions and cash management		6	7	6
Mortgage banking and title income		1	2	3
Brokerage, management fees and commissions		0	0	0
Trust services and investment management		0	0	0
Bankcard income		1	0	0
Securities gains (losses), net		(6)		213
Purchase accounting gain		533
Other income		38	37	23
Total noninterest income		$ 573	47	249
Non Strategic
Disaggregation of Revenue [Line Items]
Gain on sale of TRUPs loans			$ 1	$ 4

Variable Interest Entities - Su

Variable Interest Entities - Summary of VIE Consolidated By FHN (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets:
Other assets	$ 4,072	$ 2,297
Total assets	84,209	43,311
Liabilities:
Other liabilities	1,699	990
Total liabilities	75,902	38,235
Rabbi Trusts Used For Deferred Compensation Plans
Assets:
Other assets	164	92
Total assets	164	92
Liabilities:
Other liabilities	142	71
Total liabilities	$ 142	$ 71

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - Variable Interest Entity, Not Primary Beneficiary $ in Millions	Dec. 31, 2020USD ($)
Single Asset Leasing Entity
Variable Interest Entity [Line Items]
Maximum Loss Exposure	$ 18
Proprietary Residential Mortgage Securitization Trusts
Variable Interest Entity [Line Items]
Maximum Loss Exposure	$ 1

Variable Interest Entities - _2

Variable Interest Entities - Summary of the Impact of Qualifying LIHTC Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
LIHTC credits and benefits, net of amortization	$ (9)	$ (4)	$ (7)
Low income housing tax credits
Variable Interest Entity [Line Items]
Amortization of qualifying LIHTC investments	23	15	11
LIHTC credits and benefits, net of amortization	(22)	(14)	(10)
Other tax benefits related to qualifying LIHTC investments
Variable Interest Entity [Line Items]
LIHTC credits and benefits, net of amortization	$ (10)	$ (6)	$ (7)

Variable Interest Entities - _3

Variable Interest Entities - Summary of VIE Not Consolidated By FHN (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Liability Recognized	$ 75,902	$ 38,235
Loans, net of unearned income	58,232	31,061
Trading securities:	1,176	1,346
Term borrowings	1,670	791
Securities available for sale at fair value	8,047	4,445
Variable Interest Entity, Not Primary Beneficiary | Single Asset Leasing Entity
Variable Interest Entity [Line Items]
Maximum Loss Exposure	18
Low income housing partnerships
Variable Interest Entity [Line Items]
Maximum Loss Exposure	338	238
Maximum loss exposure, contractual funding commitments	132	137
Low income housing partnerships | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	132	136
Low income housing partnerships | Other Assets
Variable Interest Entity [Line Items]
Maximum loss exposure, current investments	206	101
Other tax credit investments
Variable Interest Entity [Line Items]
Maximum Loss Exposure	64	6
Other tax credit investments | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	42	0
Small issuer trust preferred holdings
Variable Interest Entity [Line Items]
Maximum Loss Exposure	210	238
Small issuer trust preferred holdings | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	0	0
On-balance sheet trust preferred securitization
Variable Interest Entity [Line Items]
Maximum Loss Exposure	32	33
Loans, net of unearned income	112	112
Trading securities:	2	2
Term borrowings	82	81
On-balance sheet trust preferred securitization | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	82	81
Proprietary residential mortgage securitizations
Variable Interest Entity [Line Items]
Maximum Loss Exposure		1
Proprietary residential mortgage securitizations | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized		0
Holdings of agency mortgage-backed securities
Variable Interest Entity [Line Items]
Maximum Loss Exposure	7,063	4,538
Trading securities:	800	500
Securities available for sale at fair value	6,200	4,000
Holdings of agency mortgage-backed securities | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	0	0
Commercial loan troubled debt restructurings
Variable Interest Entity [Line Items]
Maximum Loss Exposure	186	45
Maximum loss exposure, contractual funding commitments	10	2
Loans, net of unearned income	176	43
Commercial loan troubled debt restructurings | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	0	0
Sale-leaseback transaction
Variable Interest Entity [Line Items]
Maximum Loss Exposure		18
Sale-leaseback transaction | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized		0
Proprietary trust preferred issuances
Variable Interest Entity [Line Items]
Maximum Loss Exposure	0	0
Proprietary trust preferred issuances | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Liability Recognized	$ 287	$ 167

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Collateral cash payables	$ 347,000	$ 145,000
Total trading revenues	371,000	228,000	$ 132,000
Term borrowings	1,670,000	791,000
Hedged amount of foreign currency denominated loans	12,000	18,000
Derivative asset	765,000	183,000
Derivative liabilities, other	125,000	44,000
Visa Class B Shares
Derivative Instruments, Gain (Loss) [Line Items]
Derivative liabilities related to sale	13,000	23,000
Additional Derivative Agreements | Derivative Instruments With Adjustable Collateral Posting Thresholds
Derivative Instruments, Gain (Loss) [Line Items]
Net fair value of derivative assets with adjustable posting thresholds	200,000	63,000
Net fair value of derivative liabilities with adjustable posting thresholds	5,000	6,000
Collateral received	320,000	149,000
Securities posted collateral	34,000	18,000
Additional Derivative Agreements | Derivative Instruments With Accelerated Termination Provisions
Derivative Instruments, Gain (Loss) [Line Items]
Net fair value of derivative assets with adjustable posting thresholds	216,000	63,000
Net fair value of derivative liabilities with adjustable posting thresholds	17,000	10,000
Collateral received	343,000	149,000
Securities posted collateral	53,000	23,000
Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Collateral cash payables	327,000	143,000
Derivative asset	702,000	162,000
Derivative liabilities, other	60,000	24,000
Interest Rate Contract | Cash Flow Hedges | Hedged Items
Derivative Instruments, Gain (Loss) [Line Items]
Variability in cash flows related to debt instruments (primarily loans)	1,500,000	900,000
Credit Risk Contract
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset, notional amount	233,000
Derivative liability, notional amount	464,000
Derivative asset	280
Derivative liabilities, other	820
Embedded Derivative Financial Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative asset	1,000
Derivative liabilities, other	1,000
Counterparties
Derivative Instruments, Gain (Loss) [Line Items]
Collateral cash receivables	280,000	137,000
Collateral cash payables	166,000	$ 53,000
Senior Subordinated Notes | Senior Debt Maturing In December 2019 | Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Long Haul Method
Derivative Instruments, Gain (Loss) [Line Items]
Term borrowings	400,000
Debt redeemed	400,000
Senior Subordinated Notes | Senior Debt Maturing In December 2020 | Long Term Debt Hedged With Fair Value Interest Rate Derivatives Using Long Haul Method
Derivative Instruments, Gain (Loss) [Line Items]
Term borrowings	500,000
Debt redeemed	$ 500,000

Derivatives - Derivatives Assoc

Derivatives - Derivatives Associated with Fixed Income Trading Activities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	$ 3,950	$ 2,698
Assets	207	66
Liabilities	7	7
Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	3,950	2,698
Assets	2	3
Liabilities	17	4
Option contracts purchased | Long
Derivative Instruments, Gain (Loss) [Line Items]
Notional		40
Assets		0
Liabilities		0
Forwards and futures purchased
Derivative Instruments, Gain (Loss) [Line Items]
Notional	10,795	9,217
Assets	62	17
Liabilities	0	3
Forwards and futures sold
Derivative Instruments, Gain (Loss) [Line Items]
Notional	11,633	9,403
Assets	1	4
Liabilities	$ 65	$ 17

Derivatives - Derivatives Ass_2

Derivatives - Derivatives Associated With Interest Rate Risk Management Activities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	$ 3,950	$ 2,698
Assets	207	66
Liabilities	7	7
Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	3,950	2,698
Assets	2	3
Liabilities	17	4
Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	6,868	3,044
Assets	436	90
Liabilities	1	4
Customer Interest Rate Contracts Hedging | Hedging Instruments And Hedged Items | Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	6,868	3,044
Assets	5	4
Liabilities	$ 35	10
Debt Hedging | Hedging Instruments And Hedged Items | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional		500
Liabilities		0
Debt Hedging | Hedging Instruments And Hedged Items | Par
Derivative Instruments, Gain (Loss) [Line Items]
Term borrowings		500
Debt Hedging | Hedging Instruments And Hedged Items | Cumulative fair value hedging adjustments
Derivative Instruments, Gain (Loss) [Line Items]
Term borrowings		(2)
Debt Hedging | Hedging Instruments And Hedged Items | Unamortized premium (discount) and issuance costs
Derivative Instruments, Gain (Loss) [Line Items]
Term borrowings		(1)
Debt Hedging | Hedging Instruments And Hedged Items | Term Borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Term borrowings		$ 497

Derivatives - Gains_(Losses) on

Derivatives - Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities (Details) - Hedging Instruments And Hedged Items - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Customer Interest Rate Contracts Hedging | Customer interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to interest rate derivatives	$ 357	$ 92	$ 2
Customer Interest Rate Contracts Hedging | Offsetting upstream interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to interest rate derivatives	(357)	(92)	(2)
Debt Hedging | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to interest rate derivatives	2	13	(2)
Debt Hedging | Term Borrowings
Derivative Instruments, Gain (Loss) [Line Items]
Gains/(losses) related to term borrowings	$ (2)	$ (13)	$ 2

Derivatives - Derivatives Ass_3

Derivatives - Derivatives Associated With Cash Flow Hedges (Details) - Hedging Instruments And Hedged Items - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash Flow Hedges | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Variability in cash flows related to debt instruments (primarily loans)	$ 1,500	$ 900
Cash Flow Hedges | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	1,500	900
Assets	32
Liabilities	0	$ 0
Mortgage Banking Hedges | Interest Rate Lock
Derivative Instruments, Gain (Loss) [Line Items]
Notional	667
Assets	20
Liabilities	0
Gain (loss) on derivative instruments	15
Mortgage Banking Hedges | Forward Sales Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional	725
Assets	0
Liabilities	6
Gain (loss) on derivative instruments	$ (37)

Derivatives - Gains_(Losses) _2

Derivatives - Gains/(Losses) on Derivatives Associated with Cash Flow Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) expected to be reclassified to earnings in the next twelve months	$ 28
Cash Flow Hedges | Hedging Instruments And Hedged Items
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), cash flow hedges	15	$ 11	$ (6)
Variability in cash flows related to debt instruments (primarily loans)	(6)	4	2
Cash Flow Hedges | Hedging Instruments And Hedged Items | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss), cash flow hedges	$ 3	$ 21	$ (6)

Derivatives - Derivative Assets

Derivatives - Derivative Assets And Collateral Received (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Gross amounts of recognized assets	$ 765	$ 183
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Statements of Condition	765	183
Derivative liabilities available for offset	(21)	(19)
Collateral received	(347)	(145)
Net amount	397	19
Derivative assets not subject to master netting agreements	4	0.1
Derivatives, interest rate contracts
Derivative [Line Items]
Gross amounts of recognized assets	702	162
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Statements of Condition	702	162
Derivative liabilities available for offset	(7)	(6)
Collateral received	(327)	(143)
Net amount	368	13
Forward contracts
Derivative [Line Items]
Gross amounts of recognized assets	63	21
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Statements of Condition	63	21
Derivative liabilities available for offset	(14)	(13)
Collateral received	(20)	(2)
Net amount	$ 29	$ 6

Derivatives - Derivative Liabil

Derivatives - Derivative Liabilities and Collateral Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Gross amounts of recognized liabilities	$ 125	$ 44
Gross  amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Statements of Condition	125	44
Derivative assets available for offset	(21)	(19)
Collateral pledged	(82)	(25)
Net amount	22	0
Derivative liabilities not subject to master netting agreements	22	23
Derivatives, interest rate contracts
Derivative [Line Items]
Gross amounts of recognized liabilities	60	24
Gross  amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Statements of Condition	60	24
Derivative assets available for offset	(7)	(6)
Collateral pledged	(31)	(18)
Net amount	22	0
Forward contracts
Derivative [Line Items]
Gross amounts of recognized liabilities	65	20
Gross  amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Statements of Condition	65	20
Derivative assets available for offset	(14)	(13)
Collateral pledged	(51)	(7)
Net amount	$ 0	$ 0

Master Netting and Similar Ag_3

Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions - Securities Purchased Under Agreements To Resell And Collateral Pledged By Counterparties (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Securities Purchased under Agreements to Resell [Abstract]
Gross amounts of recognized assets	$ 380	$ 587
Gross amounts offset in the Balance Sheets	0	0
Net amounts of assets presented in the Balance Sheets	380	587
Offsetting securities sold under agreements to repurchase	0	(21)
Securities collateral (not recognized on FHN’s Balance Sheets)	(379)	(563)
Net amount	$ 1	$ 3

Master Netting and Similar Ag_4

Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions - Securities Sold Under Agreements To Repurchase And Collateral Pledged By Company (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Securities Sold under Agreements to Repurchase [Abstract]
Gross amounts of recognized liabilities	$ 1,187	$ 717
Gross amounts offset in the Balance Sheets	0	0
Net amounts of liabilities presented in the Balance Sheets	1,187	717
Offsetting securities purchased under agreements to resell	0	(21)
Securities/ government guaranteed loans collateral	(1,187)	(696)
Net amount	$ 0	$ 0

Master Netting and Similar Ag_5

Master Netting and Similar Agreements - Repurchase, Reverse Repurchase, and Securities Borrowing Transactions - Schedule of the Remaining Contractual Maturity by Collateral Type of Securities Sold Under Agreements To Repurchase (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	$ 1,187	$ 717
Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	1,187	712
Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	5
U.S. treasuries
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	284	41
U.S. treasuries | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	284	41
U.S. treasuries | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Government agency issued MBS
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	616	346
Government agency issued MBS | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	616	341
Government agency issued MBS | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	5
Government agency issued CMO
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	10	55
Government agency issued CMO | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	10	55
Government agency issued CMO | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0	0
Other U.S. government agencies
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	151
Other U.S. government agencies | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	151
Other U.S. government agencies | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	0
Government guaranteed loans (SBA and USDA)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	126	275
Government guaranteed loans (SBA and USDA) | Overnight and Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	126	275
Government guaranteed loans (SBA and USDA) | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Securities sold under agreements to repurchase	$ 0	$ 0

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 1,176	$ 1,346
Loans held-for-sale	405	14
Loans held for investment	16	0
Total securities available for sale	8,047	4,445
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	405	14
Loans held for investment	16
Total securities available for sale	8,047	4,445
Total other assets	912	253
Total assets	10,556	6,058
Total other liabilities	149	67
Total liabilities	502	573
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	0	0
Loans held for investment	0
Total securities available for sale	0	0
Total other assets	206	90
Total assets	206	90
Total other liabilities	71	20
Total liabilities	71	20
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	393	0
Loans held for investment	0
Total securities available for sale	8,015	4,426
Total other assets	706	163
Total assets	10,290	5,934
Total other liabilities	64	24
Total liabilities	417	530
Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	12	14
Loans held for investment	16
Total securities available for sale	32	19
Total other assets	0	0
Total assets	60	34
Total other liabilities	14	23
Total liabilities	14	23
Deferred compensation mutual funds | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	118	47
Deferred compensation mutual funds | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	118	47
Deferred compensation mutual funds | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Deferred compensation mutual funds | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Equity, mutual funds, and other | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	25	23
Equity, mutual funds, and other | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	25	23
Equity, mutual funds, and other | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Equity, mutual funds, and other | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Derivatives, forwards and futures | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	63	20
Total other liabilities	71	20
Derivatives, forwards and futures | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	63	20
Total other liabilities	71	20
Derivatives, forwards and futures | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Total other liabilities	0	0
Derivatives, forwards and futures | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Total other liabilities	0	0
Derivatives, interest rate contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	702	163
Total other liabilities	60	24
Derivatives, interest rate contracts | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Total other liabilities	0	0
Derivatives, interest rate contracts | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	702	163
Total other liabilities	60	24
Derivatives, interest rate contracts | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0	0
Total other liabilities	0	0
Derivatives, other | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	4
Total other liabilities	18	23
Derivatives, other | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0
Total other liabilities	0	0
Derivatives, other | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	4
Total other liabilities	4	0
Derivatives, other | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total other assets	0
Total other liabilities	14	23
U.S. treasuries | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	613
U.S. treasuries | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0
U.S. treasuries | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	613
U.S. treasuries | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0
Government agency issued MBS | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	3,812	2,349
Government agency issued MBS | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Government agency issued MBS | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	3,812	2,349
Government agency issued MBS | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Government agency issued CMO | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	2,406	1,670
Government agency issued CMO | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Government agency issued CMO | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	2,406	1,670
Government agency issued CMO | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Other U.S. government agencies | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	684	306
Other U.S. government agencies | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Other U.S. government agencies | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	684	306
Other U.S. government agencies | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
States and municipalities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	460	61
States and municipalities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
States and municipalities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	460	61
States and municipalities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Corporate and other debt | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	40	40
Corporate and other debt | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Corporate and other debt | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	40	40
Corporate and other debt | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Interest-only-strips | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	32	19
Interest-only-strips | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Interest-only-strips | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	0	0
Interest-only-strips | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	32	19
Specialty Banking | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	1,176	1,345
Total trading liabilities	353	506
Specialty Banking | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0	0
Specialty Banking | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	1,176	1,345
Total trading liabilities	353	506
Specialty Banking | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0	0
Specialty Banking | U.S. treasuries | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	81	135
Total trading liabilities	307	407
Specialty Banking | U.S. treasuries | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0	0
Specialty Banking | U.S. treasuries | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	81	135
Total trading liabilities	307	407
Specialty Banking | U.S. treasuries | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0	0
Specialty Banking | Government agency issued MBS | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	633	268
Total trading liabilities	3
Specialty Banking | Government agency issued MBS | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0
Specialty Banking | Government agency issued MBS | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	633	268
Total trading liabilities	3
Specialty Banking | Government agency issued MBS | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0
Specialty Banking | Government agency issued CMO | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	212	250
Specialty Banking | Government agency issued CMO | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Specialty Banking | Government agency issued CMO | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	212	250
Specialty Banking | Government agency issued CMO | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Specialty Banking | Other U.S. government agencies | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	62	125
Specialty Banking | Other U.S. government agencies | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Specialty Banking | Other U.S. government agencies | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	62	125
Specialty Banking | Other U.S. government agencies | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Specialty Banking | States and municipalities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	7	121
Specialty Banking | States and municipalities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Specialty Banking | States and municipalities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	7	121
Specialty Banking | States and municipalities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Specialty Banking | Corporate and other debt | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	181	445
Total trading liabilities	43	99
Specialty Banking | Corporate and other debt | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	0	0
Specialty Banking | Corporate and other debt | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	181	445
Total trading liabilities	43	99
Specialty Banking | Corporate and other debt | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0	0
Total trading liabilities	$ 0	0
Specialty Banking | Equity, mutual funds, and other | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1
Specialty Banking | Equity, mutual funds, and other | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
Specialty Banking | Equity, mutual funds, and other | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1
Specialty Banking | Equity, mutual funds, and other | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
Trading securities—mortgage banking | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		1
Trading securities—mortgage banking | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
Trading securities—mortgage banking | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
Trading securities—mortgage banking | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		$ 1

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Summary Of Changes In Level 3 Assets And Liabilities Measured At Fair Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Acquisition	$ 0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	(23)	$ (32)	$ (6)
Total net gains (losses) included in net income	(1)	(4)	(5)
Purchases	0	0	(28)
Sales	0	0	0
Settlements	10	13	7
Net transfers into (out of) Level 3	0	0	0
Ending balance	(14)	(23)	(32)
Net unrealized gains (losses) included in net income	(1)	(4)	(5)
Trading securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1	2	2
Total net gains (losses) included in net income	(1)	0	1
Purchases	0	0	0
Sales	0	0	0
Settlements	0	(1)	(1)
Net transfers into (out of) Level 3	0	0	0
Ending balance	0	1	2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Acquisition	0
Net unrealized gains (losses) included in net income	0	0	0
Interest-only strips- AFS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	19	10	1
Total net gains (losses) included in net income	(6)	(5)	0
Purchases	6	0	0
Sales	(11)	(47)	(17)
Settlements	0	0	0
Net transfers into (out of) Level 3	24	61	26
Ending balance	32	19	10
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Acquisition	0
Net unrealized gains (losses) included in net income	(4)	(2)	(1)
Loans held for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	14	16	19
Total net gains (losses) included in net income	1	2	1
Purchases	0	0	0
Sales	0	0	0
Settlements	(3)	(4)	(4)
Net transfers into (out of) Level 3	0	0	0
Ending balance	12	14	16
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Acquisition	0
Net unrealized gains (losses) included in net income	1	2	$ 1
Loans held for investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0
Total net gains (losses) included in net income	0
Purchases	0
Sales	(4)
Settlements	(3)
Net transfers into (out of) Level 3	9
Ending balance	16	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Acquisition	14
Net unrealized gains (losses) included in net income	$ 0

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	$ 405	$ 14
Loans, net of unearned income	58,232	31,061
Non Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, net of unearned income	77	42	$ 48
Other real estate owned (OREO)	15	16	22
Other assets	9	11	9
Net gains (losses) loans, net of unearned income	(12)	(7)	(1)
Net gains (losses) other real estate owned	(1)	(1)	(2)
Net gains (losses) other assets	(2)	(2)	(5)
Net gains (losses) financial assets	(18)	(12)	(12)
Non Recurring | Other Consumer Loans Class
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale			19
Net gains (losses) loans held-for-sale			(2)
Non Recurring | SBAs and USDA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	509	494	578
Net gains (losses) loans held-for-sale	(3)	(2)	(2)
Non Recurring | First Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	1	1	1
Net gains (losses) loans held-for-sale	0	0	0
Non Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, net of unearned income	0	0	0
Other real estate owned (OREO)	0	0	0
Other assets	0	0	0
Non Recurring | Level 1 | Other Consumer Loans Class
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale			0
Non Recurring | Level 1 | SBAs and USDA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	0	0	0
Non Recurring | Level 1 | First Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	0	0	0
Non Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, net of unearned income	0	0	0
Other real estate owned (OREO)	0	0	0
Other assets	0	0	0
Non Recurring | Level 2 | Other Consumer Loans Class
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale			19
Non Recurring | Level 2 | SBAs and USDA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	508	493	577
Non Recurring | Level 2 | First Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	0	0	0
Non Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans, net of unearned income	77	42	48
Other real estate owned (OREO)	15	16	22
Other assets	9	11	9
Non Recurring | Level 3 | Other Consumer Loans Class
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale			0
Non Recurring | Level 3 | SBAs and USDA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	1	1	1
Non Recurring | Level 3 | First Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	$ 1	$ 1	$ 1

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Fair value, asset (liability), unrealized gain (loss), OCI	$ 0	$ 0	$ 0
Disposition of Acquired Properties | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment	7,000,000	5,000,000	4,000,000
Reversed asset impairment charges		1,000,000	$ 2,000,000
2020 Business Optimization | Disposition of Acquired Properties | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment	$ 6,000,000
2019 Business Optimization | Disposition of Acquired Properties | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment		2,000,000
2019 Business Optimization | Leased Assets | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment		14,000,000
Reversed asset impairment charges		1,000,000
Rebranding Initiative | Leased Assets | Corporate
Segment Reporting Information [Line Items]
Long-lived asset impairment		$ 7,000,000

Fair Value of Assets and Liab_7

Fair Value of Assets and Liabilities - Schedule Of Unobservable Inputs Utilized In Determining The Fair Value Of Level 3 Recurring And Non-Recurring Measurements (Details) $ in Millions	Dec. 31, 2020USD ($)month	Dec. 31, 2019USD ($)month	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	$ 8,047	$ 4,445
Loans held-for-sale	405	14
Derivative liabilities, other	125	44
Non Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	9	11	$ 9
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities, other	14	23
Loans net of unearned income	77	42
OREO, fair value	15	16
Level 3 | Non Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	9	11	$ 9
Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	1	1
Loans held for investment | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	16
Other Assets | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	$ 9	$ 11
Constant prepayment rate | Weighted Average | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0.11
Constant prepayment rate | Weighted Average | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.10	0.10
Constant prepayment rate | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0
Constant prepayment rate | Minimum | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.08
Constant prepayment rate | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0.26
Constant prepayment rate | Maximum | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.12
Bond equivalent yield | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.09
Bond equivalent yield | Weighted Average | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.07	0.09
Bond equivalent yield | Minimum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Non Recurring | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.07
Bond equivalent yield | Maximum | Discounted cash flow | Loans Held For Sale - SBA | Level 3 | Non Recurring | Small Business Administrations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.08
Prepayment speeds - First mortgage | Minimum | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.08
Prepayment speeds - First mortgage | Maximum | Discounted cash flow | Loans Held For Sale - SBA | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.12
Foreclosure losses | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.63	0.64
Foreclosure losses | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.59	0.50
Foreclosure losses | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.70	0.66
Loss severity trends - First mortgage | Weighted Average | Discounted cash flow | Loans held for investment | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0.11
Loss severity trends - First mortgage | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0
Loss severity trends - First mortgage | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	1
Constant default rate | Weighted Average | Discounted cash flow | Loans held for investment | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0.01
Constant default rate | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0
Constant default rate | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-investment, measurement input	0.14
Visa covered litigation resolution amount | Weighted Average | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input, value	$ 5,800	$ 5,800
Visa covered litigation resolution amount | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input, value	5,400	6,000
Visa covered litigation resolution amount | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input, value	$ 6,000	$ 5,400
Probability of resolution scenarios | Weighted Average | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.16	0.16
Probability of resolution scenarios | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.10	0.10
Probability of resolution scenarios | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.50	0.50
Time until resolution | Weighted Average | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input | month	19	29
Time until resolution | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input | month	3	15
Time until resolution | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input | month	27	39
Marketability adjustments for specific properties | Minimum | Appraisals from comparable properties | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans net of unearned income, measurement input	0	0
Other assets, measurement input	0	0
Marketability adjustments for specific properties | Maximum | Appraisals from comparable properties | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans net of unearned income, measurement input	0.10	0.10
Other assets, measurement input	0.25	0.25
Borrowing base certificates adjustment | Minimum | Other collateral valuations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans net of unearned income, measurement input	0.20	0.20
Borrowing base certificates adjustment | Maximum | Other collateral valuations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans net of unearned income, measurement input	0.50	0.50
Financial Statements/Auction values adjustment | Minimum | Other collateral valuations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans net of unearned income, measurement input	0	0
Financial Statements/Auction values adjustment | Maximum | Other collateral valuations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans net of unearned income, measurement input	0.25	0.25
Adjustment for value changes since appraisal | Minimum | Appraisals from comparable properties | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OREO measurement input	0	0
Adjustment for value changes since appraisal | Maximum | Appraisals from comparable properties | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
OREO measurement input	0.10	0.10
Adjustments to current sales yields for specific properties | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets, measurement input	0	0
Adjustments to current sales yields for specific properties | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets, measurement input	0.15	0.15
Residential Real Estate | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale	$ 13	$ 15
First Mortgages | Prepayment speeds - First mortgage | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.05	0.04
First Mortgages | Prepayment speeds - First mortgage | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.05	0.03
First Mortgages | Prepayment speeds - First mortgage | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.15	0.14
First Mortgages | Loss severity trends - First mortgage | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.12	0.14
First Mortgages | Loss severity trends - First mortgage | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.03	0.03
First Mortgages | Loss severity trends - First mortgage | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input	0.19	0.24
HELOC | Prepayment speeds - First mortgage | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.08
HELOC | Prepayment speeds - First mortgage | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0
HELOC | Prepayment speeds - First mortgage | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.12
HELOC | Loss severity trends - First mortgage | Weighted Average | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.50
HELOC | Loss severity trends - First mortgage | Minimum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0
HELOC | Loss severity trends - First mortgage | Maximum | Discounted cash flow | Loans Held For Sale, Residential Real Estate | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held-for-sale, measurement input		0.72
Interest-only strips- AFS | Available-for-sale Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total securities available for sale	$ 32	$ 19
Interest-only strips- AFS | Constant prepayment rate | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.12	0.12
Interest-only strips- AFS | Constant prepayment rate | Weighted Average | Discounted cash flow | Available-for-sale Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.12	0.12
Interest-only strips- AFS | Bond equivalent yield | Weighted Average | Discounted cash flow | Available-for-sale Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.15	0.16
Interest-only strips- AFS | Bond equivalent yield | Minimum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.15	0.16
Interest-only strips- AFS | Bond equivalent yield | Maximum | Discounted cash flow | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities, available-for-sale, measurement input	0.17	0.17

Fair Value of Assets and Liab_8

Fair Value of Assets and Liabilities - Summary Of Differences Between The Fair Value Carrying Amount Of Mortgages Held-For-Sale And Aggregate Unpaid Principal Amount (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale	$ 405	$ 14
Loans held for investment	16	0
Fair value carrying amount less aggregate unpaid principal - Total loans	(1)	(5)
Nonaccrual loans	1	4
Fair value carrying amount less aggregate unpaid principal - Nonaccrual loans	0	(3)
Held for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale	405
Fair value carrying amount less aggregate unpaid principal - Total loans	(37)
Nonaccrual loans	2
Fair value carrying amount less aggregate unpaid principal - Nonaccrual loans	(3)
Aggregate unpaid principal
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale		19
Loans held for investment	17
Nonaccrual loans	1	$ 7
Aggregate unpaid principal | Held for sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held-for-sale	442
Nonaccrual loans	$ 5

Fair Value of Assets & Liabilit

Fair Value of Assets & Liabilities - Changes In Fair Value Of Assets And Liabilities Which Fair Value Option Included In Current Period Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mortgage Banking Noninterest Income | Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value included in net income	$ 4	$ 2	$ 1

Fair Value of Assets and Liab_9

Fair Value of Assets and Liabilities - Summary Of Book Value And Estimated Fair Value Of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Total loans, net of unearned income and allowance for loan losses	$ 57,269	$ 30,861
Short-term financial assets:
Interest-bearing deposits with banks	8,351	482
Securities purchased under agreements to resell	380	587
Trading securities:	1,176	1,346
Loans held-for-sale	1,022	594
Securities available for sale at fair value	8,047	4,445
Gross amounts of recognized assets	765	183
Other assets:
Total assets	84,209	43,311
Liabilities:
Trading liabilities	353	506
Short-term financial liabilities:
Securities sold under agreements to repurchase	1,187	717
Term borrowings:
Other long term borrowings	1,670	791
Gross amounts of recognized liabilities	125	44
Total liabilities	75,902	38,235
Level 3 | FHLB-Cincinnati Stock
Term borrowings:
Restricted investments	61	76
Level 3 | FRB Stock
Term borrowings:
Restricted investments	202	131
Reported Value Measurement
Assets
Total loans, net of unearned income and allowance for loan losses	57,269	30,861
Short-term financial assets:
Interest-bearing deposits with banks	8,351	482
Federal funds sold	65	46
Securities purchased under agreements to resell	380	587
Total short-term financial assets	8,796	1,115
Trading securities:	1,176	1,346
Loans held-for-sale	1,022	594
Securities available for sale at fair value	8,047	4,445
Net loans and leases		10
Gross amounts of recognized assets	770	183
Other assets:
Tax credit investments	400	247
Deferred compensation mutual funds	118	47
Equity, mutual funds, and other	288	229
Total other assets	806	523
Total assets	77,886	39,077
Liabilities:
Defined maturity	5,070	3,618
Trading liabilities	353	506
Short-term financial liabilities:
Federal funds purchased	845	548
Securities sold under agreements to repurchase	1,187	717
Other short-term borrowings	166	2,253
Total short-term financial liabilities	2,198	3,518
Term borrowings:
Real estate investment trust-preferred	46	46
Term borrowings—new market tax credit investment	45
Secured borrowings	15	22
Junior subordinated debentures	238	145
Other long term borrowings	1,326	578
Total term borrowings	1,670	791
Gross amounts of recognized liabilities	149	67
Total liabilities	9,440	8,500
Reported Value Measurement | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	32,651	19,929
Reported Value Measurement | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	12,033	4,301
Reported Value Measurement | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,483	6,149
Reported Value Measurement | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	1,102	482
Reported Value Measurement | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	405	14
Reported Value Measurement | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	509	494
Reported Value Measurement | Other Consumer Loans Class
Short-term financial assets:
Loans held-for-sale	31	5
Reported Value Measurement | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	77	81
Estimate of Fair Value Measurement
Assets
Total loans, net of unearned income and allowance for loan losses	57,695	31,218
Short-term financial assets:
Interest-bearing deposits with banks	8,351	482
Federal funds sold	65	46
Securities purchased under agreements to resell	380	587
Total short-term financial assets	8,796	1,115
Trading securities:	1,176	1,346
Loans held-for-sale	1,025	597
Securities available for sale at fair value	8,047	4,445
Net loans and leases		10
Gross amounts of recognized assets	769	183
Other assets:
Tax credit investments	371	245
Deferred compensation mutual funds	118	47
Equity, mutual funds, and other	288	230
Total other assets	777	522
Total assets	78,285	39,436
Liabilities:
Defined maturity	5,083	3,631
Trading liabilities	353	506
Short-term financial liabilities:
Federal funds purchased	845	548
Securities sold under agreements to repurchase	1,187	717
Other short-term borrowings	166	2,253
Total short-term financial liabilities	2,198	3,518
Term borrowings:
Real estate investment trust-preferred	47	47
Term borrowings—new market tax credit investment	45
Secured borrowings	15	22
Junior subordinated debentures	223	142
Other long term borrowings	1,455	574
Total term borrowings	1,785	785
Gross amounts of recognized liabilities	149	67
Total liabilities	9,568	8,507
Loan commitments	2	4
Standby and other commitments	6	6
Estimate of Fair Value Measurement | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	32,582	20,096
Estimate of Fair Value Measurement | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	12,079	4,301
Estimate of Fair Value Measurement | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,903	6,334
Estimate of Fair Value Measurement | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	1,131	487
Estimate of Fair Value Measurement | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	405	14
Estimate of Fair Value Measurement | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	512	497
Estimate of Fair Value Measurement | Other Consumer Loans Class
Short-term financial assets:
Loans held-for-sale	31	5
Estimate of Fair Value Measurement | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	77	81
Estimate of Fair Value Measurement | Level 1
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Short-term financial assets:
Interest-bearing deposits with banks	8,351	482
Federal funds sold	0	0
Securities purchased under agreements to resell	0	0
Total short-term financial assets	8,351	482
Trading securities:	0	0
Loans held-for-sale	0	0
Securities available for sale at fair value	0	0
Net loans and leases		0
Gross amounts of recognized assets	63	20
Other assets:
Tax credit investments	0	0
Deferred compensation mutual funds	118	47
Equity, mutual funds, and other	25	23
Total other assets	143	70
Total assets	8,557	572
Liabilities:
Defined maturity	0	0
Trading liabilities	0	0
Short-term financial liabilities:
Federal funds purchased	0	0
Securities sold under agreements to repurchase	0	0
Other short-term borrowings	0	0
Total short-term financial liabilities	0	0
Term borrowings:
Real estate investment trust-preferred	0	0
Term borrowings—new market tax credit investment	0
Secured borrowings	0	0
Junior subordinated debentures	0	0
Other long term borrowings	0	0
Total term borrowings	0	0
Gross amounts of recognized liabilities	71	20
Total liabilities	71	20
Estimate of Fair Value Measurement | Level 1 | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 1 | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 1 | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 1 | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 1 | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	0	0
Estimate of Fair Value Measurement | Level 1 | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	0	0
Estimate of Fair Value Measurement | Level 1 | Other Consumer Loans Class
Short-term financial assets:
Loans held-for-sale	0	0
Estimate of Fair Value Measurement | Level 1 | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	0	0
Estimate of Fair Value Measurement | Level 2
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Short-term financial assets:
Interest-bearing deposits with banks	0	0
Federal funds sold	65	46
Securities purchased under agreements to resell	380	587
Total short-term financial assets	445	633
Trading securities:	1,176	1,345
Loans held-for-sale	935	501
Securities available for sale at fair value	8,015	4,426
Net loans and leases		0
Gross amounts of recognized assets	706	163
Other assets:
Tax credit investments	0	0
Deferred compensation mutual funds	0	0
Equity, mutual funds, and other	0	0
Total other assets	0	0
Total assets	11,277	7,068
Liabilities:
Defined maturity	5,083	3,631
Trading liabilities	353	506
Short-term financial liabilities:
Federal funds purchased	845	548
Securities sold under agreements to repurchase	1,187	717
Other short-term borrowings	166	2,253
Total short-term financial liabilities	2,198	3,518
Term borrowings:
Real estate investment trust-preferred	0	0
Term borrowings—new market tax credit investment	0
Secured borrowings	0	0
Junior subordinated debentures	0	0
Other long term borrowings	1,455	574
Total term borrowings	1,455	574
Gross amounts of recognized liabilities	64	24
Total liabilities	9,153	8,253
Estimate of Fair Value Measurement | Level 2 | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 2 | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 2 | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 2 | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	0	0
Estimate of Fair Value Measurement | Level 2 | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	393	0
Estimate of Fair Value Measurement | Level 2 | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	511	496
Estimate of Fair Value Measurement | Level 2 | Other Consumer Loans Class
Short-term financial assets:
Loans held-for-sale	31	5
Estimate of Fair Value Measurement | Level 2 | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	0	0
Estimate of Fair Value Measurement | Level 3
Assets
Total loans, net of unearned income and allowance for loan losses	57,695	31,218
Short-term financial assets:
Interest-bearing deposits with banks	0	0
Federal funds sold	0	0
Securities purchased under agreements to resell	0	0
Total short-term financial assets	0	0
Trading securities:	0	1
Loans held-for-sale	90	96
Securities available for sale at fair value	32	19
Net loans and leases		10
Gross amounts of recognized assets	0	0
Other assets:
Tax credit investments	371	245
Deferred compensation mutual funds	0	0
Equity, mutual funds, and other	263	207
Total other assets	634	452
Total assets	58,451	31,796
Liabilities:
Defined maturity	0	0
Trading liabilities	0	0
Short-term financial liabilities:
Federal funds purchased	0	0
Securities sold under agreements to repurchase	0	0
Other short-term borrowings	0	0
Total short-term financial liabilities	0	0
Term borrowings:
Real estate investment trust-preferred	47	47
Term borrowings—new market tax credit investment	45
Secured borrowings	15	22
Junior subordinated debentures	223	142
Other long term borrowings	0	0
Total term borrowings	330	211
Gross amounts of recognized liabilities	14	23
Total liabilities	344	234
Estimate of Fair Value Measurement | Level 3 | Commercial and industrial
Assets
Total loans, net of unearned income and allowance for loan losses	32,582	20,096
Estimate of Fair Value Measurement | Level 3 | Commercial real estate
Assets
Total loans, net of unearned income and allowance for loan losses	12,079	4,301
Estimate of Fair Value Measurement | Level 3 | Consumer real estate
Assets
Total loans, net of unearned income and allowance for loan losses	11,903	6,334
Estimate of Fair Value Measurement | Level 3 | Credit Card and Other
Assets
Total loans, net of unearned income and allowance for loan losses	1,131	487
Estimate of Fair Value Measurement | Level 3 | Mortgage Loans
Short-term financial assets:
Loans held-for-sale	12	14
Estimate of Fair Value Measurement | Level 3 | Government guaranteed loans (SBA and USDA)
Short-term financial assets:
Loans held-for-sale	1	1
Estimate of Fair Value Measurement | Level 3 | Other Consumer Loans Class
Short-term financial assets:
Loans held-for-sale	0	0
Estimate of Fair Value Measurement | Level 3 | Mortgage Loan - LOCOM
Short-term financial assets:
Loans held-for-sale	77	81
Contractual Amount
Term borrowings:
Loan commitments	20,796	12,355
Standby and other commitments	$ 751	$ 459

Restructuring, Repositioning,_3

Restructuring, Repositioning, and Efficiency (Details) - 2019 Business Optimization $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges	$ 40
Personnel expense
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges	11
Legal and professional fees
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges	16
Net occupancy expense
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges	1
Other
Restructuring Cost and Reserve [Line Items]
Total restructuring, repositioning, and efficiency charges	$ 12

Parent Company Financial Info_3

Parent Company Financial Information - Statements of Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses
Other assets	$ 4,072	$ 2,297
Total assets	84,209	43,311
Liabilities and equity:
Term borrowings	1,670	791
Total liabilities	75,902	38,235
Total equity	8,307	5,076	$ 4,786	$ 4,581
Total liabilities and equity	84,209	43,311
Parent Company
Assets:
Cash	827	369
Notes receivable	3	3
Allowance for loan losses
Bank	8,176	5,039
Non-bank	88	18
Other assets	274	171
Total assets	9,368	5,600
Liabilities and equity:
Accrued employee benefits and other liabilities	322	177
Term borrowings	1,034	642
Total liabilities	1,356	819
Total equity	8,012	4,781
Total liabilities and equity	$ 9,368	$ 5,600

Parent Company Financial Info_4

Parent Company Financial Information - Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividend income:
Other income	$ 123	$ 120	$ 84
Provision for credit losses	503	45	8
Interest expense:
Interest on term borrowings	64	53	53
Total interest expense	236	414	326
Personnel expense	1,033	695	658
Income tax benefit	76	134	157
Equity in undistributed net income (loss) of subsidiaries:
Net income attributable to controlling interest	845	441	545
Parent Company
Dividend income:
Bank	180	345	420
Non-bank	0	1	1
Total dividend income	180	346	421
Other income	0	1	0
Total income	180	347	421
Provision for credit losses	0	(1)	0
Interest expense:
Interest on term borrowings	39	31	31
Personnel expense	54	53	54
Total expense	93	83	85
Income before income taxes	87	264	336
Income tax benefit	(18)	(19)	(39)
Income before equity in undistributed net income of subsidiaries	105	283	375
Equity in undistributed net income (loss) of subsidiaries:
Bank	736	160	171
Non-bank	4	(2)	(1)
Net income attributable to controlling interest	$ 845	$ 441	$ 545

Parent Company Financial Info_5

Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income attributable to controlling interest		$ 845	$ 441	$ 545
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and other		46	65	59
Deferred income tax expense (benefit)		(18)	14	104
Stock-based compensation expense		32	22	23
Total adjustments		(685)	378	(323)
Net cash provided by (used in) operating activities		172	830	234
Securities:
Proceeds from sales and prepayments of securities		629	192	21
Purchases of securities
Net cash provided by (used in) investing activities		(4,967)	(2,390)	480
Preferred stock:
Proceeds from issuance of preferred stock		144	0	0
Cash dividends paid - preferred stock		(17)	(6)	(6)
Common stock:
Stock options exercised		7	9	5
Cash dividends paid		(222)	(171)	(139)
Repurchase of shares	[1]	(4)	(134)	(105)
Proceeds from issuance of term borrowings		1,249	0	0
Term borrowings:
Repayment of term borrowings		(1,570)	(406)	(69)
Net cash provided by (used in) financing activities		5,176	1,422	(761)
Net increase (decrease) in cash and cash equivalents		381	(138)	(47)
Cash and cash equivalents at beginning of period		1,267	1,405	1,452
Cash and cash equivalents at end of period		1,648	1,267	1,405
Total interest paid		261	411	308
Income taxes received from subsidiaries		105	71	43
Parent Company
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income attributable to controlling interest		845	441	545
Less undistributed net income of subsidiaries		740	158	170
Income before undistributed net income of subsidiaries		105	283	375
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, amortization, and other		0	(1)	0
(Gain) loss on derivative transactions		4	0	0
Deferred income tax expense (benefit)		5	4	3
Stock-based compensation expense		32	22	23
Other operating activities, net		21	28	7
Total adjustments		62	53	33
Net cash provided by (used in) operating activities		167	336	408
Securities:
Proceeds from sales and prepayments of securities		0	1	0
Purchases of securities
Purchases of securities		(5)	0	0
Sales (purchases) of premises and equipment		(2)	0	2
Cash received (paid for) business combination, net		103	0	(40)
Net cash provided by (used in) investing activities		96	1	(38)
Preferred stock:
Proceeds from issuance of preferred stock		144	0	0
Cash dividends paid - preferred stock		(17)	(6)	(6)
Common stock:
Stock options exercised		7	9	4
Cash dividends paid		(222)	(171)	(139)
Repurchase of shares		(4)	(134)	(105)
Proceeds from issuance of term borrowings		795	0	0
Term borrowings:
Repayment of term borrowings		(500)	0	(45)
Other financing activities, net		(8)	0	0
Net cash provided by (used in) financing activities		195	(302)	(291)
Net increase (decrease) in cash and cash equivalents		458	35	79
Cash and cash equivalents at beginning of period		369	334	255
Cash and cash equivalents at end of period		827	369	334
Total interest paid		33	29	29
Income taxes received from subsidiaries		$ 33	$ 43	$ 49
[1]	2019 and 2018 include $130 million and $99 million, respectively, repurchased under share repurchase programs.